Chronext, an independent online platform for vintage and certified used watches, has been strengthened by the addition of new investors: the Swiss private equity firm Helvetica Capital and the watch expert Linus Fuchs have now invested in Chronext, further details of which can be found in a press release.
Linus Fuchs will also join the company as a new member of the Board of Directors. Fuchs boasts extensive industry experience, having worked as the Managing Director of IWC Switzerland, among other notable roles. Moreover, he is also well versed in areas such as marketing and sales.
“I am convinced of the great potential of Chronext”, Fuchs states in the press release, before expressing his delight at this opportunity to support the company with his expertise and knowledge. For its part, Helvetica Capital is “impressed by Chronext's market-leading position”, according to its Managing Partner Johannes Suter. “We are convinced that together with the Chronext team we will be able to further expand the business”, he explains.
Chronext was founded in 2013. The company is headquartered in Zug and operates out of Cologne in Germany as well. According to information from the company itself, it generated “annual sales in the triple-digit millions” in 2022.
In April 2023, Chronext announced that a Swiss investor consortium had acquired a majority shareholding in the company. The new CEO is Philippe Roten, who was most recently CEO at Favre-Leuba. Prior to that, Roten held leadership positions at LVMH and Swatch. The acquisition came on the back of a challenging financial year for the company. According to Chronext, its repositioning is centered around developing the primarily digital platform into a model based on an innovative combination of online and offline presence. ce/mm
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