Watches of Switzerland Acquires Hodinkee

Watches of Switzerland Group Plc is buying Hodinkee Inc., a US watch enthusiast site backed by LVMH and Tom Brady that racked up losses after an ill-timed foray into selling used models online.

The British company, a top seller of Rolex watches in the country and a major retailer in the US, will capture greater market share, particularly online in the US, following the deal, Watches of Switzerland chief executive officer Brian Duffy said in an interview. Financial terms were not disclosed. Read more at Business of Fashion