WatchBox, the global platform for pre-owned luxury timepieces, announced a partnership with Swiss watch retailer Les Ambassadeurs. The partnership brings expertise in the secondary watch market to one of the industry’s most esteemed luxury watch sellers. Les Ambassadeurs represents the first retail institution in Switzerland to formalize a program for the thriving pre-owned category, and with this announcement, WatchBox further extends its global presence across Switzerland’s most historic and vibrant cities.

The worldwide secondary apparel market–both buying and selling pre-owned items–has experienced remarkable growth in recent years, with expectations to reach USD $41 billion by 2021. Financial consultancy Kepler Cheuvreux estimates the current global market for pre-owned watches alone to be worth upward of USD $15 billion annually, and WatchBox has earned its position in this luxury watch category. With showrooms and trading floors in the United States, Hong Kong, South Africa, and Neuchâtel, Switzerland, WatchBox formally launched an authorized dealer network in the United States in December 2018 with California-based Hing Wa Lee Jewelers. The partnership with Les Ambassadeurs represents the next phase of strategic growth for the company.