The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The US-based e-commerce platform, which also counts stores in Dubai and Hong Kong among other locations, announced a funding round led by The Radcliff Companies and The Spruce House Partnership.
Watchbox was founded in 2017 by Justin Reis, Tay Liam Wee, and Danny Govberg and has raised $260 million to date, following fast growth in the pre-owned watch market. It expects to generate $300 million in revenue this year.
Learn more:
The Future of Watches and Jewellery: Adapting to Rapid Change
The inaugural edition of The State of Fashion: Watches and Jewellery Report by The Business of Fashion and McKinsey & Company forecasts a shake-up in priorities for hard luxury as well as different recovery scenarios across geographies and consumer segments.
Fashion brands are edging in on the world’s largest gathering of design professionals and their wealthy clients, but design companies still dominate the sector, which is ripe for further consolidation, reports Imran Amed.
Blocking the deal would set a new precedent for fashion M&A in the US and leave Capri Holdings in a precarious position as it attempts to turn around its Michael Kors brand.
After preserving his fashion empire’s independence for decades, the 89 year-old designer is taking a more open stance to M&A.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.