First step towards a ‘Circular Economy’

Richemont’s acquisition of Watchfinder in 2018 represents a step into the market of pre-owned luxury goods, specifically watches. In addition to learning more about our customers’ motivations, this acquisition provides our customers with a professional, trustworthy and transparent platform for bringing products back into circulation. The depth of understanding about when and why a current customer wishes to sell a watch, and why a new customer wishes to acquire a pre-owned watch, strengthens our customer relationships. Richemont’s acquisition of a circular economy company like Watchfinder represents a real business model innovation.