WoS buys watch enthusiast platform Hodinkee

(Sharecast News) - Watches of Switzerland said it had bought Hodinkee, a specialist website for luxury watch enthusiasts, for an undisclosed sum. The company on Friday said the deal was part of its plan to leverage growth opportunities and grab market share, "particularly in the fast growing US market".

Headquartered in New York and founded in 2008, Hodinkee offers digital print and video content, limited edition watch collaborations alongside watch and jewellery insurance services. It has an audience of 22.2 million annual unique visitors to its website with more than one million social media followers, WoS said.

On completion of the deal, WoS will integrate Hodinkee's existing commercial activities, including its limited edition collaborations, with all retail traffic directed to Watches of Switzerland's US e-commerce site.

"This will give the group access to a captive and highly engaged luxury watch audience. The group will also integrate the functions behind Hodinkee's insurance agency business, which partners with global insurance provider Chubb, offering protection for luxury watches and jewellery," the company said.

Reporting by Frank Prenesti for Sharecast.com