Watches of Switzerland has strategically acquired Hodinkee, aiming to enhance its presence in the luxury watch sector.
- The acquisition aligns with Watches of Switzerland’s objectives to broaden its online reach, focusing on the US market.
- Hodinkee, a reputable media company with a significant following, offers Watches of Switzerland access to an engaged audience.
- Watches of Switzerland plans to integrate Hodinkee’s commercial ventures, including collaborations and insurance partnerships.
- This move is financially backed by existing resources and will not affect Watches of Switzerland’s financial leverage.
Watches of Switzerland, a prominent name in the luxury watch retail industry, has strategically acquired the US-based media company, Hodinkee. Known for its editorial focus on wristwatches, Hodinkee is expected to bolster Watches of Switzerland’s online growth ambitions.
The move is especially targeted towards expanding Watches of Switzerland’s market footprint in the United States. By acquiring Hodinkee, the company aims to leverage its strong online presence and dedicated audience, which includes 22.2 million unique annual visitors and over a million followers on social media platforms.
Hodinkee is lauded as an influential entity in the media space concerning new and vintage wristwatch enthusiasts. This acquisition will allow Watches of Switzerland to integrate Hodinkee’s existing commercial activities into its operations, providing a seamless connection for customers to Watches of Switzerland’s US ecommerce domain.
According to Brian Duffy, CEO of Watches of Switzerland, the acquisition reflects long-term strategic objectives, enriching their brand by associating with a team applauded for redefining luxury watch coverage. This sentiment was echoed by Ben Clymer, founder of Hodinkee, who appreciated Watches of Switzerland’s disruptive influence in the watch retail sector.
Beyond editorial and ecommerce growth, the acquisition includes Hodinkee’s insurance agency operations, which collaborate with global insurance provider Chubb. These services offer coverage for luxury watches and jewellery, enhancing the combined entity’s service offerings.
Financially, the acquisition is supported through existing resources, ensuring no significant impact on the existing financial leverage of Watches of Switzerland.
This acquisition marks a significant step for Watches of Switzerland in enhancing its online market presence and service offerings.
