Richemont has been deepening the integration between its brands and retailers in the watch business over a number of years and has now revealed another stage in a long term master plan with a deal that puts Watchfinder at the heart of Net-A-Porter and Mr Porter’s luxury fashion platforms.
It is the first time that the two primary ecommerce retailers have worked in the secondary market for second hand luxury watches, and plays into their mission to adopt more sustainable and circular practices.
The partnership launches in the United States where customers are able to buy from a curated capsule collection of 108 watches from 15 brands, but the agreement also includes a trade-in service in the UK and USA so people can buy new watches, fashion or accessories from Mr Porter using part exchange cash from their own timepieces.
Watch brands included in the launch collection include Bulgari, Christian Dior, Franck Muller, Breguet, Omega, Hublot, Patek Philippe, Rolex and Tudor.
There is a dedicated “Pre-owned by Watchfinder & Co.” area on both Mr Porter and Net-A-Porter where customers will be able to get advice from watch specialists and personal shoppers around the clock on buying and selling pre-owned watches.
Every watch sold will have a 24-month Watchfinder & Co. warranty as standard.
New York-based customers can buy and receive their chosen timepieces within hours, thanks to the etailers’ same-day delivery service, while next-day delivery will be available to all other US customers.
“Having developed our curated fine watch offering over the past few years, this collaboration represents an important next step in offering our customers a wide selection of quality timepieces from the growing pre-owned watch market, while advancing our commitment to circularity and sustainability. As a highly trusted resource in pre-owned luxury watches, Watchfinder & Co. is an ideal brand for us to work with in order to provide customers with vintage, limited-edition timepieces, alongside superior service,” says Alison Loehnis, president, luxury and fashion for Net-A-Porter, Mr Porter and The Outnet.
Arjen van de Vall, chief executive officer of Wathfinder adds: “The US is a hugely important market for us and this new partnership is a significant evolution for both our business and the Watchfinder brand.”