Watchmaster buys MMC

The German start-up for used watches is thus taking over a French competitor. It's a step towards the offline world.

Watchmaster, founded in 2015, is acquiring French competitor Montres Modernes et de Collection (MMC) for an initially undisclosed price. The companies made the announcement on Monday.

Both companies sell so-called "Certified Pre-Owned timepieces" (CPO), i.e. particularly expensive luxury watches with the necessary certificates. The difference, however, is that the French have so far sold them mainly via analogue channels, while the German start-up has mostly sold them via the internet. The takeover should change that; Watchmaster wants to benefit from MMC's retail experience and open more stores in the future. Meanwhile, it has already taken steps in that direction itself, opening a showroom in London.

The deal is believed to have been brokered by Watchmaster investor Olma, a private equity fund specialising in luxury goods. "We believe not only in the combination of online and offline, but also in the cooperation between young companies and established family businesses," Tim-Hendrik Meyer, CEO of Watchmaster, told Handelsblatt.