WATCHFINDER & CO.
Watchfinder & Co.has spearheaded the development of the market for pre-owned luxury watches.
Watchfinder, founded in 2002 by Stuart Hennell and Lloyd Amsdon, built one of the first platforms for watch enthusiasts to buy, sell and service pre-owned watches. Its leadership has built a substantial and loyal base of customers in the U.K. and it had scaled to become the country’s fourth largest watch retailer by 2018.
The company has spearheaded the development of the market for pre-owned luxury watches, delivering over £275m in sales since foundation, trading in luxury brands such as Rolex, Cartier, Tag Heuer, Breitling, Omega, and Patek Philippe, as well as rare and vintage models.
Beringea invested in Watchfinder in 2014 to support its ambition to harness this market opportunity and create an international platform for pre-owned luxury watches. Beringea offered strategic expertise alongside insights from its portfolio of retail investments to advise Watchfinder as it sought to scale its online platform, expand its retail footprint, and lay the foundations for its international presence.
Over the course of the investment, Watchfinder grew substantially and rapidly – turnover trebled between 2015 to 2018. Supported by Beringea, Watchfinder launched five boutiques during this period – providing valuable exposure for the brand and an important revenue stream that generated significant topline growth.
The pre-owned watch specialist – which sells and distributes beyond the U.K. through its online platform – is now well positioned to expand its international presence. In June 2018, Beringea completed the sale of its stake in Watchfinder.co.uk to Richemont, the Swiss luxury goods group. will provide Watchfinder with significant opportunities for further growth.