The global market for watches and luxury goods is highly attractive and is estimated to grow >5% CAGR (2022-27). A challenge in this market is to secure brand heritages and how to represent ownership. Innovative technologies such as the blockchain and Non-Fungible Tokens (NFTs) can add the needed trust as well as enable new business models.
In preparation for the acquisition, OMMAX supported Bucherer by a technical due diligence and examined Adresta’s technology, evaluating the product status, the IT organization, the software development lifecycle, the system architecture as well as the applied blockchain technology. Adresta shows a highly innovative approach for the luxury brands market, combining digitalization with blockchain and NFT technology.
We would like to congratulate Bucherer on their successful acquisition of Adresta, one of the leading Software as a Service businesses for the luxury goods industry. Adresta redefines the ownership of luxury goods by creating NFTs as digital identities of watches and other luxury items. The owners are more connected to the lifecycle of their items and participate in an ecosystem of value-added services. This acquisition highly complements Bucherer and extends their offering and services in the digital space.
Dr. Stefan Sambol, Partner & Co-founder
About Bucherer AG
Bucherer, founded in Lucerne in 1888, is one of the most renowned traditional houses in the European watch and jewelry industry and has built an exclusive reputation over the past 130 years with its exquisite jewelry lines and award-winning creations. Bucherer boutiques offer their international audience a wide range of luxury watches from major manufacturers. Bucherer holds 38 exclusive locations throughout Europe: 16 retail stores in Switzerland, 13 in Germany, a flagship boutique in Vienna, a retail store in Paris, one in Copenhagen and six more in London. In January 2018, Bucherer acquired U.S. luxury watch retailer Tourneau and has since also been represented by 31 retail stores in the United States. The family-owned company is managed by the third generation of the family, Jörg G. Bucherer, and employs more than 2,000 people. The headquarters are still located in Lucerne today.
For more information about Bucherer, please visit: bucherer.com
About Adresta AG
Adresta AG builds Software-as-a-Service for the luxury goods industry, together with the manufacturers, distributors, retailers and owners. Brands redefine the ownership experience by creating NFTs for their physical products. The NFT connects the brand, owner, and third parties to a mobile-first digital ecosystem providing facilitated after-sales processes and value-added services, such as insurance.
For more information about Adresta, please visit: adresta.ch
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