Stuart Hennell, Watchfinder’s Founder, Invests in British Pre-Owned Watch Specialist Subdial

In a surprising turn of events in the pre-owned luxury watch market, Stuart Hennell, the founder of Watchfinder, has made a significant investment in Subdial, a British competitor that started in 2018. Hennell, who played a pivotal role in establishing Watchfinder as a leading force in the pre-owned watch market before its acquisition by Richemont in 2018, led a £1.5 million funding round for Subdial.

Subdial, known for its data-driven approach and strong focus on collectors, seems to have caught Hennell’s eye not just for what it has achieved but for its future potential in the luxury watch market. Unlike Watchfinder, which recently reported a significant downturn in its financial year ending March 2023, Subdial has demonstrated a stable increase in sales and is now reaching an annualised run rate of around £30 million.

Despite the challenging times for secondary market specialists, particularly after a peak and subsequent fall in prices for high-value watches like those from Rolex and Audemars Piguet in early 2022, Subdial’s resilience and innovative strategy appear promising. The company, currently based in London’s Hoxton, plans to relocate to a larger headquarters in Farringdon, further expanding its capacity to engage with its growing base of watch collectors.

This investment marks a significant endorsement for Subdial from one of the industry’s most respected figures, who believes the company could potentially exceed the achievements of Watchfinder. As the market for pre-owned luxury watches continues to evolve, industry watchers will be keenly observing how Subdial leverages this new partnership to scale new heights in the competitive landscape.