16.11.2016

Luxury: IWC to sell watches online on YNAP's websites

400IWC Schaffhausen watches costing as much as $121,000 will go on sale at Mr Porter and Net-A-Porter on November 18, as the Swiss watchmaker tests whether online shoppers might help pull it out of an industry slump.

IWC has never before partnered with an online-only luxury retailer; Net-A-Porter will launch with a curated selection of timepieces across the Pilot’s Watches and Portofino families.

“We are very pleased to announce our partnership with the leading Swiss watch manufacturer IWC Schaffhausen which will further strengthen Net-A-Porter and Mr Porter’s unparalleled luxury shopping experience. This step forward will propel our Fine Watches and Jewellery category to the next level,” said Federico Marchetti, CEO of Yoox Net-A-Porter Group.

IWC sees the partnership with the world’s biggest luxury online retailer as an important move to secure a new generation of customers. “This is a great opportunity for us to make  our  products  more  easily  accessible for  a  younger  generation  of  watch lovers who are used to shopping online,” said Georges Kern, CEO of IWC Schaffhausen.

YNAP's watch and jewelry sales are expected to reach €100 million ($110 million) by 2020, Marchetti said. The highest priced watches on Mr. Porter's site so far are brands such as Zenith and Bremont that sell for more than $20,000.

YNAP reported organic sales growth of 19 percent in the third quarter, with revenue reaching €435.4 million. "Watchmakers are becoming more open to the idea of e-commerce," YNAP's Marchetti said.
 


Events


Semptember 2015
  • 24
    Jan

    The constant and fast growth of impact investing during the last few years shows the economic signif

  • 25
    Jan

    Why Malta – a vibrant economic environment in a dynamic jurisdiction

  • 25
    Jan

    The Paris Fintech Forum 2017, organized by Altéir with the support of 60+ international partners, a

  • 26
    Jan

    I presidi informativi in fase di implementazione a livello internazionale ed europeo attraverso le m

  • 26
    Jan

    Im Banking steht der Kunde im Zentrum, das war schon immer so. In einem sich stark verändernden Umf

See All

newsletter

Updates and news from MarketPlus

Market Overview
SMI PR8229.01-0,56 %
LYXOR DAX INAV110.603-0,73 %
FTSE MIB Index19328.41-0,78 %
FTSE 1007151.18-0,66 %
CAC 404821.41-0,61 %
S&P 5002265.85-0,24 %
NASDAQ Composite5553.57-0,03 %
HANG SENG INDEX22898.520,06 %
Powered by Yahoo Finance