The acquisition of Hodinkee by Watches of Switzerland marks a significant expansion in the online luxury watch market.
- This strategic move involves the integration of a renowned media and e-commerce site focused on wristwatches.
- Hodinkee’s established audience of 22.2 million visitors enhances Watches of Switzerland’s market presence.
- CEO Brian Duffy highlights long-term goals aligned with the acquisition’s objectives.
- Hodinkee’s operations, including collaborations and insurance services, will merge into the Watches of Switzerland ecosystem.
Watches of Switzerland has strategically acquired New York-based Hodinkee, a prominent media company with a keen editorial focus on wristwatches, as part of its vision to bolster its online growth. The acquisition, noted for its potential to enhance market share particularly in the United States, was executed without disclosing financial details. This move aligns with Watches of Switzerland’s overarching long range plan objectives, as reported by City AM, intending to cultivate a heightened online presence.
Hodinkee is well-regarded within the luxury watch community, boasting an impressive engagement of 22.2 million unique visitors annually to its website, and amassing over a million followers across various social media platforms. This vast audience base offers Watches of Switzerland a substantial opportunity to tap into a dedicated segment of luxury watch enthusiasts.
Brian Duffy, the CEO of Watches of Switzerland, has expressed longstanding respect and admiration for Hodinkee. He acknowledged the media company’s success and its role as a pivotal destination for luxury watch aficionados. This sentiment was reciprocated by Hodinkee’s founder, Ben Clymer, who highlighted the disruptive and innovative spirit shared by both entities in their respective markets.
As part of the acquisition, Hodinkee’s existing commercial pursuits, such as exclusive luxury watch collaborations, will be woven into the broader framework of Watches of Switzerland. Retail web traffic originating from Hodinkee will now redirect to Watches of Switzerland’s U.S. e-commerce platform, streamlining consumer access and enhancing operational synergy.
Additionally, Hodinkee’s insurance agency, which partners with renowned global provider Chubb, will also be integrated into Watches of Switzerland’s services. This collaboration extends coverage for luxury watches and jewellery, offering a comprehensive service ecosystem to their clientele. The financial aspects of the acquisition are managed through existing financial facilities, ensuring that Watches of Switzerland’s leverage position remains stable.
The acquisition of Hodinkee by Watches of Switzerland strategically strengthens its market position while integrating valuable assets and expertise.
