Watches of Switzerland Group PLC (GB:WOSG) has released an update.
Watches of Switzerland Group PLC has announced the acquisition of Hodinkee, a leading online platform for luxury watch enthusiasts, aiming to strengthen its online presence, particularly in the lucrative US market. The merger will integrate Hodinkee’s commercial activities, including its insurance services, into the Group’s ecommerce offerings and maintain Hodinkee’s editorial independence to continue delivering high-quality content. The acquisition, which is set to bolster WOSG’s brand portfolio and market share, is funded through existing financial facilities without materially impacting leverage.
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