The Watches of Switzerland Group has acquired Analog Shift, its pre-owned and vintage watch trading partner since 2018.
Financial details of the acquisition have not been disclosed.
When the first Watches of Switzerland showroom opened in New York two years’ ago, Analog Shift provided a selection of pre-owned watches and the two companies have been expanding their relationship ever since.
“As we began our entry into the US market back in 2018, we saw the pre-owned and vintage segment as a significant area of opportunity and Analog Shift as the ideal partner to help us realise that,” states Brian Duffy, CEO of Watches of Switzerland Group.
“Our relationship has had a very natural progression. It’s two liked-minded brands working together in a space that is poised for exceptional growth. Having them as the official pre-owned and vintage resource for The Watches of Switzerland Group offers a multitude of possibilities and will bring tremendous value to our clients.”
For major competitors like Tourneau, now owned by Bucherer, pre-owned watches are the second largest revenue generator after Rolex in most stores and online.
Analog Shift is a comparatively niche player in comparison to Watchfinder, the Richemont-owned pre-owned specialist from Maidstone in Kent.
For comparison, Analog Shift has 68 Rolex watches and three Audemars Piguets listed for sale on its site today while Watchfinder has 506 Rolexes and 47 APs.
Analog Shift helped Watches of Switzerland get a foothold in the vintage market by offering a curated selection in New York. The continually evolving collection quickly became one of the strongest performing segments within the downtown location, WoSG said today.
“Since opening our first US flagship in 2018, the company has taken great pride in offering visitors the most comprehensive and rewarding experiences,” David Hurley, EVP of Watches of Switzerland Group USA says. “With the pre-owned and vintage markets often feeling uncertain for consumers, the trust in Analog Shift’s expertise and authenticity, firmly now residing within the Watches of Switzerland Group, will allow enthusiasts to purchase pre-owned pieces with the confidence they have come to expect through Watches of Switzerland.”
James Lamdin (pictured top), founder of Analog Shift, becomes Watches of Switzerland’s director of vintage and pre-owned timepieces following the acquisition.
“Very early on we realized the shared vision between our two companies to be best-in-class while not ascribing to industry norms,” Mr Lamdin says. “Both brands look to bring character into watch purchasing and with our ability to tap into Watches of Switzerland’s premier retail organization, Analog Shift will be able to exponentially expand our services, bringing a cutting edge understanding of the secondary market exclusively to the Watches of Switzerland customer.”
On the day the acquisition was announced, Mr Duffy and Mr Lamdin held an Instagram live conversation to discuss the opportunity.
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