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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.”
