Pre-owned watch specialists accelerate their land grab race
Speculation is rife that the pre-owned watch market will continue to consolidate this year, with Chrono24 and Chronext both rumoured to be courting acquirers or preparing for initial public offerings.
05/07/2021 WatchPro
Open the file This would come after two significant acquisitions in the United States in the past 12 months: Crown & Caliber by Hodinkee and Analogue Shift by Watches of Switzerland Group.
News of the latest deal broke this morning with Watchmaster, a major pre-owned specialist headquartered (like Chrono24 and Chronext) in Germany, acquiring Paris-based Montres Modernes et de Collection (MMC).
Watchmaster CEO Tim-Hendrik Meyer commented: “With our newly-established local presence, we want to accelerate this growth trend in France. I would like to particularly thank our investor OLMA who introduced us to MMC and helped to negotiate the acquisition.”
