Re-branding said to have boosted online sales of luxury timepieces.
Watchfinder, the site dedicated to selling pre-owned luxury watches, has reported a 39% increase in sales following its recent re-brand to WF&Co.
A release from Watchfinder yesterday shows that the sales increase relates to September, October and November 2011.
The figures follow a year of “significant internal investment” that has seen WF&Co’s staff numbers grow to 40 people, as the brand expands with a re-designed website and online watch magazine.
Managing director Stuart Hennell said the figures were in-line with the company’s expectations. “To generate this volume of sales growth in what can only be described as challenging trading conditions is pleasing, but it’s in line with our expectations.
“If you consider that our customer service rating has also improved to 92% it tells me we’re heading in the right direction.”
Watchfinder said the growth can be attributed at least in part to the increasing popularity of pre-owned watches, offering that, as consumers think more about luxury spending, an item which is of similar quality to a new watch costs less and has the potential to appreciate in value has obvious appeal.
Co-founder Matthew Bowling said: “We’re trying to change the way people think about pre-owned watches and as buyers see how favourably our products compare to the brand new alternative, we expect the market to continue to grow.”
The company will launch a members’ club in the new year, with watch rental available in 2012 and a flagship pre-owned watch boutique due to open next year.