There’s a phrase that’s becoming increasingly common in the world of fine wristwatches — especially as the language and practice of sustainability becomes more and more important — and that phrase is ‘circular economy’. In short, pre-owned watches.
Capitalizing on this buzz, ReLuxury is a new kind of show, held in Geneva from the 4th to the 7th of November. More than 30 exhibitors will be showing off novelties on display that have been novelties before. Fabienne Lupo, ReLuxury’s Managing Director, explains, “There is luxury and re-luxury, that is to say, luxury that lives a second time and that perfectly corresponds to our need to consume more sustainably, for the sake of the planet and to face the climate emergency.” A host of important players in the pre-owned luxury sector are backing Lupo’s vision of a new kind of show. The founding partner is eBay — who have been bullish in moving into the luxury space, and Watchbox, one of the leading exhibitors, and offering two rare pieces, an F.P Journe and a De Bethune, for sale. In addition, Richard Mille and Zenith will be exhibiting, Alexandre Mille, CEO of Richard Mille explains that the brand has been involved with the certified pre-owned market since 2015, “Since then, we have experienced an exponential demand for historical pieces from the RM collection, and we are very happy to be able to offer this service to our customers in major markets. When Fabienne Lupo told us about ReLuxury, we seized the opportunity to participate in this show to showcase our Certified Pre-Owned distribution network.”
ReLuxury also offers ‘The Clinic’ a space dedicated to the repair and restoration of objects. The show will host a dozen artisans working in the fields of watchmaking, jewelry, leather goods and fashion. In addition there’s a Lab aimed at showcasing innovative initiatives aimed at reframing how we consume luxury.
Underlying the ethical and environmental imperatives of ReLuxury is, of course, big business. Patrik Hoffmann, Executive Vice President of Watchbox notes that the sector is booming “Certified Pre-Owned (CPO) luxury has grown in recent years. WatchBox’s global revenue passed the $300 million mark in 2021. For 2022, we are not releasing numbers yet, but we can confirm strong growth over 2021. We believe that the value of a brand’s CPO reflects and supports the value of the brand itself. Consumer demand for a transparent and professional CPO market in luxury watchmaking, in particular, as has been done in the automotive industry for decades already, has been heard by some market players such as WatchBox. The organizers and founders of ReLuxury recognized the need of end consumers and went a step further by creating the first edition in Geneva.”
In a very real way Luxury has always been about sustainability, with true luxury objects being repairable rather than replaceable. ReLuxury is reminding us of this truism and showcase some of the best examples in Geneva this week.
Find out more about ReLuxury.