Braunstone, England—Renowned timepiece retailer Watches of Switzerland has successfully commenced the rollout of its Rolex Certified Pre-Owned program in the United States, reporting an initial encouraging response.
The United Kingdom-based horological establishment revealed this strategic move while concurrently releasing its financial results for the first quarter of fiscal year 2024, culminating on July 30. Notably, this period exhibited robust growth within the United States, where revenue experienced a commendable 10 percent uptick at constant exchange rates, amounting to £163 million ($207 million). The surge in revenue was primarily propelled by an augmented sales volume.
A pivotal addition to Watches of Switzerland’s offerings was the launch of the Rolex Certified Pre-Owned (CPO) initiative in the U.S. during mid-July. Rolex SA, the revered luxury watch manufacturer, unveiled its intention to embark on certifying pre-owned timepieces in late 2022, marking a substantial policy shift and generating ripples in the thriving secondhand watch market.
Rolex’s rigorous certification criteria encompass watches that have aged a minimum of three years. These authenticated timepieces are exclusively available for purchase through authorized Rolex retailers, reaffirming the brand’s commitment to quality and authenticity.
The Rolex Certified Pre-Owned program debuted within Bucherer boutiques across Europe and the United Kingdom, subsequently extending its presence to Tourneau/Bucherer establishments in the United States earlier this spring.
Watches of Switzerland has eagerly noted a positive reception among its clientele for the Certified Pre-Owned seal, which signifies both the genuineness and assured quality of the timepieces. The program’s forthcoming launch at Watches of Switzerland’s U.K. stores in September reflects its steady expansion.
In addition to introducing the Certified Pre-Owned program, Watches of Switzerland has made notable strides in the United States during the first quarter. A new multi-brand store was inaugurated at the American Dream mall in New Jersey, enhancing the brand’s presence. Furthermore, a rejuvenated and expanded Mayors store emerged in Dadeland, Florida, to offer an elevated shopping experience. Notably, the establishment also unveiled dedicated TAG Heuer and Grand Seiko boutiques in Topanga, California, further underlining its commitment to luxury horology.
