The 1916 Company Market Research Report

Background

Overview

The 1916 Company is a premier global destination and community for collectible luxury watches and fine jewelry. Established in November 2023, it emerged from the merger of WatchBox, Govberg Jewelers, Radcliffe Jewelers, and Hyde Park Jewelers. This consolidation unites over a century of expertise in the luxury watch and jewelry industry, creating a comprehensive platform that bridges primary and secondary markets.

Mission and Vision

The company's mission is to reshape how collectors discover, purchase, and engage with timepieces and jewelry by uniting the primary and secondary markets with a collector-focused approach, engaging editorial, and trusted expertise. Its vision is to provide a welcoming, trusted global partner for both new and collectible pre-owned watches, as well as fine jewelry, supported by a dynamic media platform and a global network of Collector’s Lounges and boutiques.

Primary Area of Focus

The 1916 Company specializes in offering a curated selection of luxury watches and fine jewelry, encompassing both new and pre-owned timepieces from esteemed brands. It also provides a dynamic media platform and a global network of Collector’s Lounges and boutiques, supported by a dedicated team of Client Advisors.

Industry Significance

By merging leading entities in the luxury watch and jewelry sector, The 1916 Company has created a significant presence in the industry, offering a vast inventory of pre-owned collectible watches and fine jewelry. Its global network and comprehensive services position it as a key player in the luxury goods market.

Key Strategic Focus

Core Objectives

Expansion of Retail Footprint: Establishing a global presence through multi-brand salons and mono-brand boutiques in key watch markets worldwide.

Integration of Primary and Secondary Markets: Bridging the gap between new and pre-owned luxury watches and fine jewelry, offering a comprehensive selection to collectors.

Enhanced Customer Experience: Providing personalized services through dedicated Client Advisors and creating immersive brand experiences in their showrooms.

Specific Areas of Specialization

Luxury Watches: Offering a curated selection of timepieces from renowned brands, including Rolex, Patek Philippe, and independent watchmakers.

Fine Jewelry: Providing a range of high-end jewelry pieces, including engagement rings, necklaces, and bracelets from esteemed designers.

Collector’s Lounges and Boutiques: Establishing spaces for collectors to engage with the brand, view collections, and participate in events.

Key Technologies Utilized

Digital Platforms: Utilizing online platforms for showcasing inventory, facilitating sales, and engaging with the global community.

Mobile Application: Offering a redesigned mobile app that serves as a hub for discovery, community engagement, and collection management.

Primary Markets Targeted

North America: With locations in Philadelphia, Ardmore, Baltimore, Towson, Newark, Denver, Newport Beach, and Scottsdale.

Asia: Including lounges in Hong Kong, Singapore, Shanghai, and Dubai.

Europe: With a presence in Neuchâtel, Switzerland.

Financials and Funding

Funding History

Specific details regarding the total funds raised and recent funding rounds are not publicly disclosed. The formation of The 1916 Company through the merger of WatchBox, Govberg, Radcliffe, and Hyde Park Jewelers indicates a consolidation of resources and expertise, potentially enhancing financial stability and market reach.

Notable Investors

The 1916 Company is privately held, and specific investor information is not publicly available.

Utilization of Capital

The capital from the merger has been utilized to:

Expand Retail Presence: Opening new showrooms and boutiques in key markets.

Enhance Digital Platforms: Developing and revamping mobile applications and online platforms to improve customer engagement.

Invest in Inventory: Curating a diverse selection of luxury watches and fine jewelry to meet collector demand.

Pipeline Development

Key Pipeline Candidates

As a luxury watch and jewelry retailer, The 1916 Company focuses on curating a diverse inventory of timepieces and jewelry rather than developing pipeline candidates in the traditional sense.

Stages of Development

Inventory Acquisition: Sourcing new and pre-owned luxury watches and fine jewelry from reputable brands.

Showroom Development: Designing and opening new showrooms and boutiques to enhance customer experience.

Target Conditions

The company targets the luxury watch and jewelry market, focusing on collectors and enthusiasts seeking high-quality timepieces and jewelry.

Anticipated Milestones

Showroom Openings: Launching new locations in strategic markets.

Digital Platform Enhancements: Rolling out new features in mobile applications and online platforms.

Technological Platform and Innovation

Proprietary Technologies

Mobile Application: A redesigned app serving as a hub for discovery, community engagement, and collection management.

Significant Scientific Methods

Data Analytics: Utilizing data to understand customer preferences and optimize inventory and marketing strategies.

AI-Driven Capabilities

Personalized Recommendations: Employing algorithms to suggest timepieces and jewelry based on customer behavior and preferences.

Leadership Team

Executive Profiles

John Shmerler: Global CEO, previously U.S. CEO, now leading the company globally.

Justin Reis: Chairman, formerly Global CEO, now serving as Chairman.

Danny Govberg: Co-founder and Executive Chairman, focusing on vision and strategy.

Key Contributions

John Shmerler: Overseeing global operations and strategic direction.

Justin Reis: Providing leadership and vision for the company's future.

Danny Govberg: Guiding the company's strategic initiatives and maintaining industry relationships.

Competitor Profile

Market Insights and Dynamics

The luxury watch and jewelry market is characterized by high demand for both new and pre-owned timepieces, with collectors seeking authenticity, quality, and exclusivity. The market is expanding globally, with significant growth in Asia and North America.

Competitor Analysis

WatchBox: A global platform for buying, selling, and trading pre-owned watches, now part of The 1916 Company.

Govberg Jewelers: A Philadelphia-based jeweler specializing in luxury watches and fine jewelry, now part of The 1916 Company.

Radcliffe Jewelers: A Baltimore-based jeweler with a legacy of over 40 years, now part of The 1916 Company.

Hyde Park Jewelers: A Denver-based jeweler with locations in Denver, Newport Beach, and Scottsdale, now part of The 1916 Company.

Strategic Collaborations and Partnerships

Rolex: Authorized to sell Rolex Certified Pre-Owned watches, enhancing credibility and inventory.

TUDOR: Opened a dedicated TUDOR Boutique in Denver, Colorado, expanding brand presence.

Operational Insights

The 1916 Company's extensive network of boutiques and lounges, combined with its online presence, allows it to cater to a global clientele, offering personalized services and a vast selection of luxury watches and fine jewelry.

Strategic Opportunities and Future Directions