7-9-2021
Pre-owned watch e-commerce platform WatchBox has bought a majority stake in the Swiss independent watch manufacturer De Bethune.
WatchBox said in a statement, De Bethune has put their hearts into “classic watchmaking skills and craftsmanship with a contemporary technical process”. As part of the agreement, Denis Flageollet (COO and Master Watchmaker) who founded the brand in 2002, and Pierre Jacques (CEO) will continue to lead the brand.
“In the past, WatchBox has demonstrated support for the independent watchmaking segment primarily through inventory ownership. By purchasing inventory, it brings liquidity to the global pre-owned market, and supports the underlying value of the product,” Patrik Hoffmann, executive vice-president for WatchBox Switzerland said.
De Bethune produces about 200 watches a year, with an average price of US$100,000 to US$120,000. “We have long admired their desire and commitment to educating the global watch community on the art of watchmaking and are delighted to now join together. WatchBox’s investment will enable De Bethune to fulfil our long-term vision of advancing and reinterpreting watchmaking,” Flageollet and Jacques said.
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