Watches of Switzerland buys New York-based watch enthusiast platform Hodinkee

High-street giant Watches of Switzerland has bought Hodinkee, the New York-based watch aficionado platform, vowing to uphold "impartial journalism" and continue coverage of brands it doesn't stock.

The Rolex retailer is banking on the acquisition to boost its footprint in the US market. Originally kicked off as a blog by Ben Clymer in 2008, Hodinkee has since clocked up an annual audience of over 20 million people.

It also boasts a virtual shopfront showcasing exclusive high-end watches. Although Mr Clymer took a step back in 2020, the takeover will see him wind back the clock, returning as president.

Listed on the London Stock Exchange, Watches of Switzerland plans to mesh Hodinkee's selling initiatives with its operations, pointing customers to their American online store for purchase routes. "This will give the group access to a captive and highly engaged luxury watch audience," they announced. However, they're keen to ensure the authenticity of Hodinkee’s reporting remains untouched, promising that its editorial arm will operate liberally to produce content, whilst the sales side shifts under Watches of Switzerland's umbrella.

In a personal statement on the Hodinkee platform, Mr Clymer affirmed: "Will we cover brands that Watches of Switzerland doesn’t sell? Absolutely. Will we cover interesting retailers that have nothing to do with Watches of Switzerland? Absolutely." That said, he disclosed plans to occasionally play host to events at the retailer’s global boutiques and showrooms.

Watches of Switzerland, the UK's leading retailer for luxury brands like Rolex and Omega with 15 showrooms nationwide, has secured a deal geared towards bolstering its online presence.

Brian Duffy, the Chief Executive, remarked: "The acquisition of Hodinkee directly supports our ecommerce business, driving traffic and brand awareness across our markets, and particularly in the US, further enhancing our sector leadership online."

The acquisition was funded by the group’s existing finance, and it did not disclose the value of the deal.