The luxury brand watch industry was one of the many, many industries that felt the negative effects of the pandemic. This niche industry is typically associated with a wealthy consumer base, but the industry still suffered significant losses last year, with the market plummeting approximately 23%. One special luxury watch retailer, Watch Trading Co, used the pandemic as an opportunity to expand the business into retail, rather than just wholesale.
Watch Trading Co. specializes in luxury brand sports model watches, and the brand is known for the owner’s ability to find unique models. Much of the brand’s success is due to its loyal and authentic customer base, having amassed over 250k followers on Instagram. The company is recognized as a larger company with large-volume wholesale, so they have become known for their obscure and hard-to-find watch models.
The company has a natural ability to follow and stay up to date on the latest market trends. Watch Trading Co. brands range from a sporty Rolex to Audemars Piguet and Patek Philippe. Another asset that the company has been able to capitalize on is the importance of the global watch industry. Consumers sometimes limit their search to the domestic market, but Watch Trading Co. understands that global connections and resources are how to really reach the top of the industry.
The company’s owner says that they do not just ‘make prices up.’ Their prices are set globally, rather than just domestically, so some watches may be worth more overseas. “When a model is in demand, we sell wholesale higher in parts of the world for more than what we can get retail in the U.S. It almost makes my retail and wholesale business compete against each other in a way,” he said.