Secondary market watch specialist WatchBox has struck a deal with Les Ambassadeurs, one of Switzerland’s most respected multi-store watch and jewelry retailers, that will bring together new and pre-owned luxury watches under one umbrella.
It makes Les Ambassadeurs one of the first retail institution in Switzerland to formalize a strategy for the pre-owned watch category while extending Watchbox’s reach into the five major Swiss cities where the retailer has stores.
Les Ambassadeurs has boutiques in Zurich, Geneva, Lucerne, St Moritz and Lugano.
Watchbox has made Switzerland and the wider European market a key target for growth, and opened a Swiss headquarters last year.
The office is run by executive vice-president Patrik Hoffmann, a former chief executive of Ulysse Nardin and veteran of the primary market for luxury Swiss watches.
WatchBox global president and chief operating officer, Amanda Ellison, says it is important to create a global network of retail partners who can take luxury watch trade-ins to build inventory and act as points of sale for pre-owned watches.
“The vision for WatchBox is to create a truly connected global marketplace, instituting a standard of excellence for both product and service within the pre-owned category,” Ms Ellison says.
“By bringing WatchBox to a global stage, we can offer a broader inventory to a greater network of consumers, while hiring and partnering with the most talented traders and retailers in the industry, and achieving economies of scale. We are delighted to forge ahead with Les Ambassadeurs as a strong, forward-thinking partner,” she adds.
Danny Govberg, co-founder and CEO of WatchBox, says he is thrilled to bring the group’s pre-owned buying, selling, and trading practices to Les Ambassadeurs. “Their well-earned reputation extends far beyond Switzerland, and their embrace of the pre-owned market supports WatchBox’s founding thesis that the future of the watch industry is in the true merging of the primary and secondary watch markets,” he adds.
As an authorized WatchBox dealer, Les Ambassadeurs will offer comprehensive services and consultation for watch trading and buying, as well as access to browse and purchase from WatchBox’s inventory of certified pre-owned watches.
Les Ambassadeurs’ buying, selling, and trading services commence in early May at the company’s five stores and online at lesambassadeurs.ch, which will launch a WatchBox Digital Corner.
“We are thrilled to enter into this innovative partnership with WatchBox,” Joachim Ziegler, CEO of Les Ambassadeurs, says. “It was very important for us to not just be a first mover in Switzerland in the pre-owned market, but to also offer an unparalleled service for our clients. They will thus be able to buy, sell, and trade pre-owned watches in our boutiques as well as online, all backed by a 15-month warranty and the trusted expertise of two industry leaders.”