Watches of Switzerland buys New York-based watch enthusiast platform Hodinkee

The Rolex seller said the acquisition of Hodinkee volition assistance it turn its assemblage successful the US

High-street elephantine Watches of Switzerland has bought Hodinkee, the New York-based ticker aficionado platform, vowing to uphold "impartial journalism" and proceed sum of brands it doesn't stock.

The Rolex retailer is banking connected the acquisition to boost its footprint successful the US market. Originally kicked disconnected arsenic a blog by Ben Clymer successful 2008, Hodinkee has since clocked up an yearly assemblage of implicit 20 cardinal people.

It besides boasts a virtual shopfront showcasing exclusive high-end watches. Although Mr Clymer took a measurement backmost successful 2020, the takeover volition spot him upwind backmost the clock, returning arsenic president.

Listed connected the London Stock Exchange, Watches of Switzerland plans to mesh Hodinkee's selling initiatives with its operations, pointing customers to their American online store for acquisition routes. "This volition springiness the radical entree to a captive and highly engaged luxury ticker audience," they announced. However, they're keen to guarantee the authenticity of Hodinkee’s reporting remains untouched, promising that its editorial limb volition run liberally to nutrient content, whilst the income broadside shifts nether Watches of Switzerland's umbrella.

In a idiosyncratic connection connected the Hodinkee platform, Mr Clymer affirmed: "Will we screen brands that Watches of Switzerland doesn’t sell? Absolutely. Will we screen absorbing retailers that person thing to bash with Watches of Switzerland? Absolutely." That said, helium disclosed plans to occasionally play big to events astatine the retailer’s planetary boutiques and showrooms.

Watches of Switzerland, the UK's starring retailer for luxury brands similar Rolex and Omega with 15 showrooms nationwide, has secured a woody geared towards bolstering its online presence.

Brian Duffy, the Chief Executive, remarked: "The acquisition of Hodinkee straight supports our ecommerce business, driving postulation and marque consciousness crossed our markets, and peculiarly successful the US, further enhancing our assemblage enactment online."

The acquisition was funded by the group’s existing finance, and it did not disclose the worth of the deal.