Watchbox Acquires Controlling Stake in De Bethune

[vh2k]

Watchbox Acquires Controlling Stake in De Bethune


WatchBox describes itself these days as “the global leader in collectible luxury timepieces”, a deliberate repositioning above the clutter of watch traders that add up to a global pre-owned and grey market sector recently valued at $18 billion by McKinsey & Co.

That elevation has been bolstered today with the news that WatchBox has acquired a significant stake in Swiss independent watchmaker De Bethune.

Details of the deal have not been disclosed but Swiss newspaper Le Temps, says WatchBox has secured a controlling interest in the watchmaker.

CEO Pierre Jacques and Denis Flageollet, COO and master watchmaker, will remain on De Bethune’s board of directors to ensure continuity and will continue to lead the teams in Geneva and L’Auberson.

De Bethune, like other independent watchmakers, has enjoyed a surge in demand in recent years, and the pandemic has pushed this even higher.

In a meeting with De Bethune at Geneva Watch Days yesterday, WATCHPRO was told that every watch in production for 2021 has already been sold.

Mr Jacques says the company usually produces around 150 watches per year with an average price of around CHF 120,000 and, despite increasing the size of the team from 13 to 40 in the past four years, its order book is full.

The investment from WatchBox is expected to be put to work increasing production, but not at the price of exclusivity.

Mr Jacques hopes to make up to 250 watches within two years.

WatchBox, which has a world-wide network of trading offices and stores in Philadelphia, Neuchatel in Switzerland, Hong Kong, Singapore, Hong Kong and Dubai in joint venture with Ahmed Seddiqi & Sons, has established itself as a leader in sourcing and selling rare watches, particularly from independent watchmakers like F. P. Journe, H. Moser & Cie and De Bethune.

It also has a reputation for spotting the next big thing, and has been talking up De Bethune for a number of years.

WatchBox’s scale also gives it the ability to control markets for small independent watchmakers by acquiring and holding watches so that supply tightens and prices rise.

“WatchBox has been a trusted partner of ours and a dynamic supporter of De Bethune for years,” a statement from De Bethune’s Mr Flageollet and Mr Jacques says.

“We have long admired their desire and commitment to educate the global watch community on the art of watchmaking and are delighted to now join together. WatchBox’s investment will enable De Bethune to fulfill our long-term vision of advancing and reinterpreting watchmaking.”

https://usa.watchpro.com/breaking-ne...in-de-bethune/

So, we can look forward to Watchbox incessantly pushing Lange, Moser, and (now) De Bethune.

[Russell996]

Originally Posted by vh2k

Watchbox Acquires Controlling Stake in De Bethune



So, we can look forward to Watchbox incessantly pushing Lange, Moser, and (now) De Bethune.

I think you’ll find it’s FPJ that been incessantly pushed.

[texasmade]

Originally Posted by Russell996

I think you’ll find it’s FPJ that been incessantly pushed.

They've been pushing Moser and ALS quite a bit the past year or so.

[Yobrooks]

ALS is fantastic brand and does not need to be "pushed" by Watchbox. I'll give you Moser and FPJ, but not ALS. I've dealt with Watchbox for years and the "experts" in the company are true to their feelings about the watches they review so highly; they would not risk their reputation to "push" a less than stellar brand IMO.

[ReturningSon]

I love Denny's work and glad they have some cool backing. As long as they dont force DB to do Watchbox LEs or some other hokey branded stuff, they should be fine.

[_speedmaster_]

It is clear that Watchbox and Govberg have favorites (FPJ, Moser, DB, ALS). They also control a large portion of the grey market for FPJ, Moser and DB (unsure about ALS). Take what they say with a grain of salt.

That aside, this venture will do wonders for DB, for which I am happy.

[DoraTheExplorerII]

I won’t be surprised if there’s gonna be a rush of speculation on independents because people are thinking that at some point or another a sleeper brand that’s been around for a while will eventually be market-manipulated and hyped up since it’s so easy now.

[GB-man]

Originally Posted by DoraTheExplorerII

I won’t be surprised if there’s gonna be a rush of speculation on independents because people are thinking that at some point or another a sleeper brand that’s been around for a while will eventually be market-manipulated and hyped up since it’s so easy now.

Watchstreetbets

[Etschell]

monetization of the watch industry is one of the worst things that has happened in a while for collectors. right now for many many brands your dollar goes nowhere.

it is great for insiders of the industry and those who make their bread from it.

mortgages in 2006
poker in 2011
crypto in 2017

it will pop at some point. yes, it may go higher long term but the bubble always pops before it resumes upward.

watchbox is simply diversifying and quite frankly being a watch manufacturer of a saleable brand is far more powerful and valuable than being a secondary seller. it is not even close.

[GreenLantern]

There was a Poker bubble in 2011?

[Chiboy]

Originally Posted by GreenLantern

There was a Poker bubble in 2011?

Don't you remember? There was a shortage and $100 chips were going for $140 and up!

[enjoythemusic]

Originally Posted by Etschell

monetization of the watch industry is one of the worst things that has happened in a while for collectors. right now for many many brands your dollar goes nowhere.

it is great for insiders of the industry and those who make their bread from it.

Reminds me of the music business today.

Agreed, it seems certain brands, and perhaps conglomerates, are cashing in. Richemont's Panerai brand is a good example of highly optimistic monetizatiin of their intellectual property.

[DoraTheExplorerII]

Originally Posted by GB-man

Watchstreetbets

Yes! or watchboxbets

[FrugalGreubel]

I love the brand so I’m glad this will provide them with more stability. Only thing I hope that’ll change is smaller sized watches. My wrists are just too damn small for their current product line.

[floydanderson]

I think this is a great development. Love De Bethune and this clearly puts them on stronger footing and that's a good thing. Yes Watchbox is a commercial establishment but amongst all watch dealers that I've dealt with, they are right up there in their passion, sincerity and honesty.

[uniqueMR]

I am not surprised.
Small independent watchmakers will be HIGHLY collectable pretty soon.

[Cwillis0001]

Makes sense. Tim Mosso has been going on about this being his favorite brand for some time. A little preemptive advertising, I guess.