In early October, The Watches of Switzerland surprised the world of luxury watchmaking by acquiring Hodinkee. This acquisition of the platform dedicated to timepiece enthusiasts enables the retail giant to strengthen its online presence, particularly in the flourishing jewelry sector.
In the luxury goods sector, anyone wishing to ensure their future, especially in these uncertain times, must opt for both physical and digital distribution.
On October 4,The Watches of Switzerland announced the acquisition of Hodinkee, an e-commerce and editorial platform dedicated to collectors and enthusiasts of luxury watchmaking, founded 16 years ago.
This merger should enable The Watches of Switzerland to capitalize on the authority figure the platform has acquired since its creation, as well as to aggregate qualified traffic to its website. A strategic move at a time when competition has become fiercer since the takeover of the physical Bucherer AG brand by the watchmaker Rolex.
Customer service that makes the difference
In the space of fifteen years,Hodinkee has gone from being a simple e-tailer specializing in the sale of watch straps to an authorized retailer for some fifteen watch brands, including Rolex, Patek Philippe, Omega and Audemars Piguet.
As an e-tailer, Hodinkee has made a name for itself in the content production market, developing a medium renowned for its entertaining and popular articles. An editorial line that has met with success, generating 22.2 million unique visitors by 2023 on its e-commerce site and over a million followers on social networks. Aware of the importance of preserving the trust of the platform’s audience, The Watches of Switzerland is committed to maintaining Hodinkee’s editorial independence.
At the same time, the Swiss conglomerate plans to integrate Hodinkee’s commercial activities. Following the takeover, the parent company also plans to redirect all traffic to its US website, which should give it access to a “captive audience highly committed to luxury watchmaking.” The Watches of Switzerland also incorporates the function of the insurance agency representing Chubb to protect watches and jewelry.
Hodinkee offloads loss-making business
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Featured Photo: Hodinkee/The Watches of Switzerlan
