BREAKING: Richemont Buys Watchfinder
Richemont, the Swiss luxury goods group, has just announced that it has reached agreement to acquire 100% of the share capital of Watchfinder.co.uk Limited.
Commenting on the transaction, Mr Johann Rupert, Chairman of Richemont, said: “Sixteen years ago, Watchfinder’s founders foresaw the need for an online marketplace for premium pre-owned timepieces. Watch enthusiasts themselves, they established Watchfinder to provide excellence in customer experience. We believe there are substantial opportunities to help grow the Company further.”
Together with YOOX NET-A-PORTER and Dufry, the acquisition of Watchfinder is another step in Richemont’s strategy.
The transaction is expected to close in the summer of 2018.
Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.