A secret collaboration between some of America’s most respected family jewelers has burst into the light today with the launch of Troverie, an online store front for luxury watches backed by 26 leading brick and mortar retailers.
Troverie is the consumer-facing brand of Authorized Luxury Group, an organization committed to making it easier and more enjoyable for consumers to browse, study and buy luxury watches from authorized retail partners of brands including Bell & Ross, Blancpain, Breguet, Breitling, Bvlgari, Girard-Perregaux, Hamilton, Longines, Movado, Nomos, Omega, Raymond Weil, Tag Heuer, Ulysse Nardin, and Zenith.
The venture aims to solve what its founders see as a long-standing problem for traditional retailers and modern consumers of prestige watches. Namely, the difficulty of finding watches in a local market that can be found online and bought either with a click and a credit card, or in the store of an authorized retail partner.
“Steeped in tradition, the luxury watch industry can be difficult to understand and access for the average luxury watch consumer,” said Fred Levin, Troverie CEO and founder. “With Troverie, we are targeting one of the few remaining merchandise categories yet to be adequately represented online and helping generations-old family-owned businesses expand their reach and enhance their digital presence in a seamless omni-channel platform.”
Research by Authorized Luxury Group suggests there is a vast community of customers that are frustrated by the difficulty of following their online research about luxury watches with a purchase.
The Swiss watch industry’s biggest names agree. Georges Kern, chief executive of Breitling and former head of watchmaking at Richemont, says that Troverie has an important role to play.
“The watch industry has been desperate for an omnichannel sales vehicle led by true experts to properly bridge the gap between online and in-store sales. Troverie is just what Breitling and our authorized retailers have needed,” says Mr Kern. “With Troverie, consumers can rest assured that they are looking at an expertly curated collection of authorized watches and complete their purchase with ease and peace of mind, knowing the source is authentic.”
Patrick Pruniaux, CEO of Ulysse Nardin, agrees. “Troverie expresses digitally the watch industry’s business model. It puts together a great product offering from top watch retailers and elevates the experience of finding the perfect timepiece. For a brand like Ulysse Nardin, partnering with Troverie provides additional visibility as well as the perfect environment to find our clients online. We are proud of being part of such a project, a true trademark between today’s traditional brick-and-mortar world and tomorrow’s pure digital experience.”
Troverie launches with over 800 watches on sale from 16 brands that are stocked by 26 authorized dealers in the United States. Many have multiple brick and mortar stores, so customers have a choice of more than 70 stores in 22 states that they can visit to try on the watches.
Hyde Park Jewelers, which has stores in Denver, Pheonix and Newport Beach, believes the new online storefront will improve the experience for customers. “Troverie represents a strategic opportunity to create the industry’s first premier authorized luxury watch online experience – with official watch jewelers as a critical component of the solution,” said Michael Pollak, CEO and founder of Hyde Park Jewelers in Denver and Phoenix.
“Through the Troverie platform, Hyde Park can now offer clients flexible choices for their purchase, including buy online, buy online/pick up in-store or view in-store.”
Mark Udell, CEO, London Jewelers in New York, is excited at the greater reach that Toverie can bring to his business. “As our business continues to grow, selling online will be a bigger and bigger part of that. We believe in delivering a true omni-channel experience for our customers and have always put a high priority on being able to do that in a way that is fully authorized by the brands we represent. We see Troverie as the next step in being able to serve our customers.”
Along with a prestigious line up of family jewelers supporting Troverie, there is also an advisory board with experience across retail, finance, ecommerce and luxury watch businesses. The board includes Ulrich Wohn, former CEO of Tag Heuer and LVMH Watch & Jewelry; Michael Lucciola, CEO of Firefly Group and Brian Watkins, co-founder and CEO of Rep The Squad. Hyde Park Jewelers’ Mr Pollak is also on the advisory board.