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Category: Retailers

Created on Thursday, 15 December 2011 11:59

Written by Naida Ally

Online retailer Watchfinder has reported that like-for-like sales of pre-owned watches are up 39 per cent following the recent WF&Co rebranding.

The figures, which relate to sales in September, October, and November, follow a year of internal investment which has seen the number of staff grow to over 40; the introduction of the WF&Co group; a re-designed website; and a magazine.

Managing director Stuart Hennell explained: "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."

The growth has been, in part, attributed to the increasing popularity of pre-owned watches. 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 added: "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."