Richemont buys Watchfinder, a specialist in second-hand watches


© Reuters. RICHEMONT BUYS WATCHFINDER, a SPECIALIST in second-hand WATCHES

ZURICH (Reuters) – Richemont (SIX:CFR) announced Friday the acquisition of the uk Watchfinder, the swiss group luxury, thus strengthening its presence on the market of second-hand watches in which some watchmakers predict a strong growth.

Richemont has not specified the amount of the transaction.

Based in Britain, Watchfinder offers a platform for finding, buying, and selling watches occasion high-end via an internet site and seven shops, highlights Richemont in a press release. It employs approximately 200 people.

The transaction is expected to be completed during the summer, adds Richemont, which is not expected to have any impact on its consolidated net assets or operating income of the fiscal year, which ends in march 2019.

(John Miller; Bertrand Boucey for the French service)

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