The Watches of Switzerland Group has acquired Analog Shift, its pre-owned and classic watch buying and selling associate since 2018.
Monetary particulars of the acquisition haven’t been disclosed.
When the primary Watches of Switzerland showroom opened in New York two years’ in the past, Analog Shift supplied a collection of pre-owned watches and the 2 corporations have been increasing their relationship ever since.
“As we started our entry into the US market again in 2018, we noticed the pre-owned and classic phase as a big space of alternative and Analog Shift as the perfect associate to assist us realise that,” states Brian Duffy, CEO of Watches of Switzerland Group.
“Our relationship has had a really pure development. It’s two liked-minded manufacturers working collectively in an area that’s poised for distinctive progress. Having them because the official pre-owned and classic useful resource for The Watches of Switzerland Group affords a mess of potentialities and can carry super worth to our purchasers.”
For main opponents like Tourneau, now owned by Bucherer, pre-owned watches are the second largest income generator after Rolex in most shops and on-line.
Analog Shift is a relatively area of interest participant compared to Watchfinder, the Richemont-owned pre-owned specialist from Maidstone in Kent.
For comparability, Analog Shift has 68 Rolex watches and three Audemars Piguets listed on the market on its website at the moment whereas Watchfinder has 506 Rolexes and 47 APs.
Analog Shift helped Watches of Switzerland get a foothold within the classic market by providing a curated choice in New York. The regularly evolving assortment shortly turned one of many strongest performing segments inside the downtown location, WoSG mentioned at the moment.
“Since opening our first US flagship in 2018, the corporate has taken nice pleasure in providing guests probably the most complete and rewarding experiences,” David Hurley, EVP of Watches of Switzerland Group USA says. “With the pre-owned and classic markets typically feeling unsure for shoppers, the belief in Analog Shift’s experience and authenticity, firmly now residing inside the Watches of Switzerland Group, will enable lovers to buy pre-owned items with the boldness they’ve come to count on by means of Watches of Switzerland.”
James Lamdin (pictured high), founding father of Analog Shift, turns into Watches of Switzerland’s director of classic and pre-owned timepieces following the acquisition.
“Very early on we realized the shared imaginative and prescient between our two corporations to be best-in-class whereas not ascribing to trade norms,” Mr Lamdin says. “Each manufacturers look to carry character into watch buying and with our skill to faucet into Watches of Switzerland’s premier retail group, Analog Shift will have the ability to exponentially broaden our providers, bringing a innovative understanding of the secondary market solely to the Watches of Switzerland buyer.”
On the day the acquisition was introduced, Mr Duffy and Mr Lamdin held an Instagram stay dialog to debate the chance.
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