WatchBox Expands Global Footprint in Partnership with Leading Swiss Watch Retailer Les Ambassadeurs

WatchBox opens the doors for buying, selling, and trading certified pre-owned timepieces in Zurich, Geneva, Lucerne, and Lugano in partnership with Les Ambassadeurs, expanding the WatchBox Authorized Dealer network.

WatchBox Partners with Les Ambassadeurs

Philadelphia, PA (April 24, 2019) – WatchBox, the leading global platform for pre-owned luxury timepieces, today announced a partnership with Swiss watch retailer Les Ambassadeurs. The partnership brings expertise in the secondary watch market to one of the industry’s most esteemed luxury watch sellers. Les Ambassadeurs represents the first retail institution in Switzerland to formalize a program for the thriving pre-owned category, and with this announcement, WatchBox further extends its global presence across Switzerland’s most historic and vibrant cities.

The worldwide secondary apparel market–both buying and selling pre-owned items–has experienced remarkable growth in recent years, with expectations to reach USD $41 billion by 20221. Financial consultancy Kepler Cheuvreux estimates the current global market for pre-owned watches alone to be worth upward of USD $15 billion annually, and WatchBox has earned its position as the front runner for the luxury watch category. With showrooms and trading floors in the United States, Hong Kong, South Africa, and Neuchâtel, Switzerland, WatchBox formally launched an authorized dealer network in the United States in December 2018 with California-based Hing Wa Lee Jewelers. The partnership with Les Ambassadeurs represents the next phase of strategic growth for the company.

WATCHBOX VISION

WatchBox Global President and Chief Operating Officer, Amanda Ellison, remarked, “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. 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.”

LES AMBASSADEURS PARTNERSHIP

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 unsurpassed inventory of certified pre-owned watches. Les Ambassadeurs’ buying, selling, and trading services commence in early May at the company’s locations in Zurich, Geneva, Lucerne, and Lugano, Switzerland. And WatchBox’s extensive inventory will soon be presented on lesambassadeurs.ch in the WatchBox Digital Corner, as well as through interactive digital showcases in Les Ambassadeurs’ boutiques across Switzerland’s most prominent cities.

“We are thrilled to enter into this innovative partnership with WatchBox,” Joachim Ziegler, CEO of Les Ambassadeurs, shared. “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.”

WatchBox’s partnership with Les Ambassadeurs signifies a strategic investment in the growth of the category, uniting the primary and secondary watch markets at their highest levels; an in-store presence with incredible digital support, and a customer-first mindset built upon trust, transparency, and education.

Danny Govberg, co-founder and CEO of WatchBox, affirmed, “WatchBox is thrilled to bring our 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.”

Translations: Access French and German versions: http://bit.ly/2VoyalN
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PRESS CONTACTS

Susanne Hurni | shurni@thewatchbox.com | +41 32 722 12 80
Caroline Kallman Joffe | caroline@thewatchbox.com | +1 717 951 2259

 

1 GlobalData Consumer Survey, 2018

WatchBox Introduces Specialty Financial Services Through Partnership with Luxury Asset Capital

Global pre-owned watch platform’s service offerings include buying, selling, trading, and now borrowing against the value of pre-owned luxury timepieces

WatchBox Expands Service Offerings in Partnership with Luxury Asset Capital

Philadelphia, PA; Denver, CO (December 5, 2018) – WatchBox, the leading global platform for the buying, selling, and trading of pre-owned luxury timepieces, and Luxury Asset Capital, a leader in the alternative financing market, today announced a specialty financial services partnership that enables WatchBox’s clients to quickly access capital backed by luxury timepieces or other luxury assets held as loan collateral by Luxury Asset Capital.

WatchBox has achieved global recognition for its trustworthy, easily accessible, and efficient solution for monetizing pre-owned watches. While many parallels can be drawn between collectible art and fine watches, auction houses and financial institutions alike have long offered financial services for the art market, while the watch market has historically not had the transparency nor liquidity to support comparable services. WatchBox and Luxury Asset Capital’s specialty financial services enable clients to realize a broader range of options for their timepieces.

“Our strategy at WatchBox is to deliver a full suite of services for the luxury watch buyer and collector,” said David Kaplan, Chief Marketing Officer for WatchBox. “We buy, sell, and trade thousands of watches every year. Our partnership with Luxury Asset Capital allows clients to tap into the equity of their luxury assets without forfeiting ownership or future appreciation.”

The financial services offered in partnership with Luxury Asset Capital represent another avenue to ‘unlock’ the value in one’s personal watch collection. “At Luxury Asset Capital, we enable clients to quickly and easily borrow against their past purchases, instead of leveraging their future by selling stocks or other securities,” added Dewey Burke, President and CEO of Luxury Asset Capital. “There is a natural fit between Luxury Asset Capital and WatchBox. Luxury watches are consistently among the most popular assets our clients use as loan collateral because they retain so much of their value, and thanks to companies such as WatchBox, enjoy a vibrant secondary market.”

HOW IT WORKS

Prospective clients initiate the loan process through an inquiry on WatchBox’s website, similar to the process of selling one’s watch. After receiving a loan quote from Luxury Asset Capital, the client receives free insured shipping to Luxury Asset Capital’s secure facility. Upon inspection of the watch, Luxury Asset Capital offers financing in amounts up to USD 5 million. Funds can be wired immediately upon agreement of loan terms, and owners can redeem their collateral – watches or other luxury goods – at any time by paying off the loan principal plus service fees incurred.

LEARN MORE: www.thewatchbox.com/financial-services

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Press Contacts

WatchBox | Caroline Kallman Joffe | caroline@thewatchbox.com | +1 717 951 2259
Luxury Asset Capital | Rick Keating | rjk@keatingco.com | +1 917 767 2400

WatchBox Launches Authorized Dealer Network, Strengthening Position in US Market

Partnership between Hing Wa Lee Jewelers and WatchBox empowers retailer to offer pre-owned buying, selling, and trading services in store.

WatchBox Launches Authorized Dealer Network

Philadelphia, PA (December 5, 2018) – WatchBox, the leading global destination for pre-owned luxury timepieces, today announced the launch of its Authorized Dealer network, and welcomed Hing Wa Lee Jewelers as its inaugural partner. As an authorized WatchBox dealer, Hing Wa Lee will offer clients comprehensive services and consultation for watch trading and buying, as well as access to browse and purchase from WatchBox’s global inventory or certified pre-owned watches.

David Lee, Chairman and CEO of the Hing Wa Lee Group, remarked, “Hing Wa Lee Jewelers is excited to partner with WatchBox to provide trading and selling services of pre-owned watches to our clients.”

WatchBox’s founders and leadership believe that physical locations and high-touch personal service in key global markets are invaluable to the widespread acceptance and understanding of the luxury pre-owned watch category. Having successfully launched WatchBox divisions in Hong Kong, South Africa, and Switzerland, the expansion within the United States represents the next phase of strategic growth for the company. The recent acquisition of Chronofy, the valuation subscription service for pre-owned watches, provides WatchBox with the infrastructure and technology to take its services to a network of hand-selected retailers who meet the WatchBox standard for client service.

Global President and Chief Operating Officer of WatchBox, Amanda Ellison, added, “WatchBox is thrilled to bring our pre-owned buying, selling, and trading practices to Hing Wa Lee Jewelers. Their stellar reputation and standard of excellence make Hing Wa Lee the perfect inaugural partner for our network. Through this partnership, WatchBox formalizes the intersection of the primary and secondary watch markets, which means that Hing Wa Lee is now equipped to offer what today’s watch consumer is seeking – a trustworthy partner for the buying, selling and trading of both new and pre-owned timepieces under one roof.”

Hing Wa Lee’s buying, selling and trading services commence today at the company’s locations in San Gabriel and Walnut, CA. WatchBox’s extensive inventory is now presented on www.hingwaleejewelers.com/watchbox in the WatchBox Digital Corner, as well as through interactive digital showcases in each of Hing Wa Lee’s stores.

A celebratory launch and trade-in event is scheduled for Saturday, December 8 at Hing Wa Lee’s Walnut location, during which a selection of exceptional pre-owned watches will be exhibited and available for sale, and WatchBox representatives will be onsite for complimentary valuations.

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Press Contacts

Caroline Kallman Joffe | caroline@thewatchbox.com | +1 717 951 2259

WatchBox Acquires Chronofy, the ”Blue Book” for the Pre-Owned Watch Category

WatchBox launches pre-owned trade-in solution for independent watch retailers; backed by Chronofy’s multi-media pricing resource and WatchBox’s authentication and buying services.

WatchBox Acquires Chronofy

WatchBox launches pre-owned trade-in solution for independent watch retailers; backed by Chronofy’s multi-media pricing resource and WatchBox’s authentication and buying services

WatchBox today announces the acquisition of Chronofy, the industry-leading valuation subscription service for the secondary watch market. Comprised of a mobile application, user-friendly desktop platform, and the printed Chronofy Watch Guide, the company enables subscribers to identify, value, authenticate, and sell pre-owned timepieces.

Launched in 2013 and delivering instant transparency and pricing confidence to jewelers, independent watch dealers, and pawnbrokers, Chronofy now serves as the foundation for WatchBox’s newly launched business unit. Within the new Chronofy division, WatchBox addresses the fundamental barriers to entry in the secondary watch market: pricing knowledge, authenticity, inventory risk, and available capital. Through Chronofy, WatchBox offers a ‘pre-owned solution’ for independent watch retailers, allowing them to accept trade-ins and offer purchasing services to their clients. For a nominal annual fee, retailers can subscribe to Chronofy and immediately gain access to a comprehensive pricing database and dedicated support team for on-the-spot pricing guidance. Chronofy stands behind the prices in its guide with a purchase guarantee for all models featured within its active database.

“The growth of the secondary watch market has led to a rising demand from consumers for services to more easily sell or trade their unworn watches,” WatchBox CEO Danny Govberg stated. “Few authorized watch retailers have the ability to price, authenticate, and sell watches that are traded in. Chronofy’s ‘toolbox’ will be a welcomed resource for these retailers.”

“It is really about putting the customer first,” added WatchBox President and Chief Operating Officer, Amanda Ellison. “Today’s customer wants to be able to buy, sell and trade their watches in one fell swoop, and Chronofy’s purchase guarantee allows jewelers to confidently accept trades without assuming the inventory risk. Combined with WatchBox’s ability to buy pre-owned watches, we now empower retailers to meet the needs of clients that are currently being driven to other channels.”

On this acquisition, Chronofy founder Joe Akar said, “The synergy between our companies makes this acquisition a natural fit. We share in the mission to bring authenticity, pricing transparency and confidence to the pre-owned category; ultimately to elevate the client experience and the global pre-owned perception.”

By leveraging technology, data systems and market expertise, WatchBox actively supports the growth of the pre- owned watch category. Interested retailers and watch dealers can enjoy a free trial of Chronofy membership by visiting www.chronofy.com.

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Press Contacts

Caroline Kallman Joffe | caroline@thewatchbox.com | +1 717 951 2259

WatchBox Unveils Swiss Headquarters & Trading Floor in Neuchâtel

Following the success of its US and Hong Kong divisions, the global e-commerce platform heightens commitment to international watch consumer with opening of Swiss location.

WatchBox Switzerland Opens Its Doors

Philadelphia, PA (September 26, 2018) WatchBox, the leading global platform for pre-owned luxury timepieces, today announced the opening of its Swiss headquarters at Rue de la Promenade-Noire 5 in Neuchâtel. This site marks the company’s third physical location, complementing showrooms and trading floors in the United States and Hong Kong. On the heels of a strategic partnership launch with Topwatch in South Africa earlier this summer, WatchBox’s foray into Switzerland is an important step in the company’s march towards true global connectedness and delivery of a revolutionary pre-owned luxury watch experience.

Born in the digital space, WatchBox offers consumers a trustworthy and efficient solution for buying, selling, and trading pre-owned timepieces; uniting technology, market expertise, pricing transparency, and high-touch client service initiatives. Under the leadership of Executive Vice President Patrik Hoffmann, the opening of WatchBox Switzerland elevates the company’s global visibility and reinforces its commitment to the international watch consumer with multi-lingual watch experts, an engaging community, and an array of professional services.

THE NEUCHÂTEL LOUNGE

WatchBox’s Swiss headquarters includes a showroom for private appointments, events, and relaxed browsing – the Neuchâtel Lounge – with the company’s now-signature ‘trading floor’ framework. Here, the historic and modern realms are seamlessly fused together; a contemporary atmosphere within a historic Neuchâtel building. Paintings and engravings by Neuchâtel artist Antonio Coï adorn the walls of the Lounge, adding character and elegance to the space. Local watch enthusiasts, consumers, and international visitors can expect a curated inventory of pre-owned timepieces for sale, streamlined access to an ever-expanding global inventory, and to receive fair market value on all watches traded or sold. The Swiss headquarters also includes a professionally designed WatchBox Studios onsite to produce live-stream broadcasts, hands-on watch reviews, podcasts, interviews, and creative film content from the heart of the Swiss watch industry.

WatchBox Switzerland’s buying, selling and trading services commence today; and hereafter, the Neuchâtel Lounge will be open to the public on weekdays between 8.30am to 4.30pm. Private appointments are readily available outside of stated hours, and monthly events and collector gatherings will be hosted the first Thursday of each month, beginning on October 4. An exceptional selection of pre-owned Patek Philippe timepieces has been curated for the launch and will be showcased for private sale until October 10.

“The opening of our Swiss location brings WatchBox’s expertise in the secondary watch market to the epicenter of the industry,” remarked Hoffmann. “We’ve developed a ‘high-tech meets high-touch’ model to support the evolving needs of the modern watch consumer, and we believe this approach will strengthen and accelerate the acceptance of certified pre-owned across the industry.”

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Press Contacts

Susanne Hurni | shurni@thewatchbox.com | +41 (0) 32 722 12 80
Caroline Kallman Joffe | caroline@thewatchbox.com | +1 717 951 2259

WatchBox Enters South African Market

Following successful launches in Hong Kong and Switzerland, the e-commerce platform continues global expansion in partnership with Topwatch.

WatchBox Expands into South Africa

Philadelphia, PA (July 11, 2018) – WatchBox, the global leader in pre-owned luxury watches, today announces its expansion into South Africa through a strategic partnership with Topwatch, the region’s premiere purveyor of pre-owned luxury watches. WatchBox has pursued focused expansion of e-commerce operations in key markets since the company’s 2017 founding. As of today, Topwatch is now “Powered by WatchBox,” and offers an expanded selection of inventory while leveraging the global WatchBox marketing, operations, technology, and buying capabilities to grow its presence in the region.

“We are making significant investments to drive WatchBox’s long-term vision to be the preeminent global buyer, seller, and trader of certified pre-owned timepieces, uniting tech-aided convenience with high-touch personal service,” said WatchBox co-founder and CEO, Danny Govberg. “Topwatch adds a fourth continent to our portfolio as we build our global platform to serve the growing market for pre-owned luxury watches.”

According to a global luxury report by Deloitte, Sub-Saharan Africa is second only to Asia Pacific in the rate of growth of consumer markets. “South Africa’s expanding luxury market, coupled with the growth of e-commerce and digital marketing, ushers in a massive growth opportunity for WatchBox,” stated South African-born Amanda Ellison, WatchBox’s global President and Chief Operating Officer.

Topwatch has served the South African watch community for close to ten years and is recognized as the region’s pioneer of the pre-owned space. Under the leadership of Johan Dreyer, a driven entrepreneur and watch enthusiast, Topwatch has seen positive demand for its client services and premium pre-owned inventory and was honored by National Business Awards as one of the country’s top performing companies. Topwatch’s offerings include a high-traffic e-commerce website, a private buying office in Johannesburg, and a retail location and state-of-the-art watchmaking facility in Cape Town’s Double Tree Hilton hotel.

Dreyer shared, “The partnership with WatchBox empowers Topwatch to expand our inventory, buying capacity, and market influence to attract more clients as we continue to deliver the highest levels of quality and service. We are proud to support the collecting behaviors of the growing South African watch community, now as a part of the global WatchBox platform.”

“In a very short amount of time, WatchBox has pushed the boundaries of the pre-owned luxury watch market, elevating the category’s perception around the world. As an emerging luxury market, Africa is of great strategic importance, and we are excited to welcome Johan and the Topwatch team to WatchBox,” said Ellison.

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Press Contacts

Johan Dreyer | johan@topwatch.co.za | +27 82 858 9343
Caroline Kallman Joffe | caroline@thewatchbox.com | +1 717 951 2259

WatchBox Expanding to Switzerland with Patrik Hoffmann as Executive Vice President

The global e-commerce platform, WatchBox, adds watch industry depth to its leadership team with the appointments of Herbert Gautschi & Susanne Hurni to Swiss executive team.

Introducing WatchBox Switzerland

Philadelphia, PA (May 8, 2018) – WatchBox, the premiere global platform for pre-owned luxury watches, today announces the appointment of Patrik Hoffmann as the Executive Vice President of the company’s Swiss division, Herbert Gautschi as its Vice President of Business Operations, and Susanne Hurni as the division’s Vice President of Marketing. The expansion into Switzerland with a high-level team with invaluable experience in the Swiss watch industry, signals the next phase of strategic growth for WatchBox and reinforces the company’s commitment to elevate and revolutionize the pre-owned luxury watch category.

Founded in 2017 by Danny Govberg, Liam Wee Tay and Justin Reis; WatchBox affirms that physical locations in key markets are critical to support its global e-commerce platform. The newly established Swiss division complements the buying, selling, and trading operations in the United States and Hong Kong, and serves as a bridge to the epicenter of the Swiss watch industry.

PATRIK HOFFMANN

Patrik Hoffmann, who served Ulysse Nardin in varied leadership roles for nearly 20 years, most recently as CEO, was tapped for the executive vice president role, following a dynamic three-decade career in the watch industry.

Hoffmann’s tenure with Ulysse Nardin, and prior roles with Oris SA and the watch distribution company Swiss Prestige Ltd., granted him extensive experience in the Americas, Asia and other major markets for the luxury watch industry. He oversaw global sales and marketing efforts and steered Ulysse Nardin through continuous innovation, without losing sight of the brand’s rich heritage or long-term objectives. With a thoughtful style of leadership, Hoffmann powerfully communicated a narrative of tradition, design, and technology that propelled both his career and the global profile of Ulysse Nardin, ultimately overseeing the acquisition by the Kering Group and a successful transition.

He brings to WatchBox a constant drive for innovation, relishes disruption and communicates his vision for the evolution of the watch category with passion and purpose. “The pre-owned timepiece segment has been long neglected and it is our vision to provide a professional service in pioneering change in the luxury watch industry,” stated Hoffmann. “We are embracing technological tools, fulfilling the needs of today’s informed consumer and visionary retailers.“

Danny Govberg, co-founder and CEO of WatchBox shared, “Patrik brings considerable strength, knowledge and perspective of the watch industry to WatchBox. He worked alongside, collaborated with, and learned from one of the more creative watch entrepreneurs of our time, Rolf Schnyder; and he experienced the transition from a family business to a true global powerhouse. This experience is unmatched in our industry, enriching WatchBox’s mission to drive change in the pre-owned category.”

SUSANNE HURNI

Susanne Hurni joins WatchBox Switzerland as its Vice President of Marketing, having served as the head of marketing and communication for Ulysse Nardin for more than 30 years. Hurni’s extraordinary industry experience and proficiency in branding, communications, and public relations will be instrumental to the global growth of the WatchBox brand.

“We are delighted to welcome Patrik, Susanne, and Herbert to WatchBox’s global team,” remarked Amanda Ellison, President and Chief Operating Officer of WatchBox. “The Swiss team embodies all of the qualities I look for in a team. They bring talent and experience, operate with proficiency, creativity, passion and attention to detail. And they are unwaveringly committed to results.”

HERBERT GAUTSCHI

Herbert Gautschi joins WatchBox Switzerland as its Vice President of Business Operations, bringing with him over 30 years of experience in the watch industry and a proficiency for organizational management, marketing, and sales, having worked extensively with major luxury brands throughout his career. Gautschi was instrumental in developing the Gucci Timepiece division in its formative years, served as CEO of a multi-client private watch manufacturer, founded NHC with master watchmaker Vincent Calabrese, and initiated the business plan and acquisition of Vincent Bérard SA by the Timex Group. Gautschi supported the re-launch of niche brand Julien Coudray 1518 in 2011 before founding his own company to design luxury consumer goods experiences worldwide. His considerable experience, creativity, business acumen and nimble approach are invaluable to WatchBox’s Swiss expansion.

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Press Contacts

Susanne Hurni | shurni@thewatchbox.com | +41 (0) 32 722 12 80
Caroline Kallman Joffe | caroline@thewatchbox.com | +1 717 951 2259