Observations on Watchfinder acquisition by Richemont
The “resale” (sale of pre-owned goods) is becoming a key element in the global strategy of luxury groups.The secondary market of luxury products has become a playground that leading luxury houses are no longer reluctant to invest. The takeover of Watchfinder by Richemont is emblematic of this phenomenon. The acquisition of this platform dedicated to the purchase and resale of high-end timepieces reflects the willingness of luxury groups to attract new customers, to retain them as loyal clients and eventually to create value over the long term. According to us, this switch towards the resale market is gathering pace.