Subdial Secures Major Investment from Watch Industry Veteran
Subdial, the innovative trading platform for watch enthusiasts, has recently made headlines with the announcement of a significant investment from industry veteran Stuart Hennell. Known for his role as Co-Founder and Ex-CEO of WatchFinder, Hennell has acquired a substantial minority interest in Subdial, joining forces with Active Partners, a private equity firm that has been a key investor since 2021. With Hennell's extensive experience in the watch industry, he is poised to become both an investor and advisor for Subdial, aiming to elevate the platform's status and capabilities in the ever-evolving luxury watch market.
Founded in 2018 by Ross Crane and Christy Davis, Subdial was born out of a genuine passion for watches and an ambition to establish a trustworthy and transparent marketplace for watch collectors.
Since its inception, Subdial has experienced astounding growth, increasing its weekly watch drops by over 230% since 2021, which now sees around 100 unique timepieces released every week. Within the last two years, the company has seen its annualized turnover quadruple to approximately £30 million, underscoring its strong business fundamentals and the unique value it offers to its users. The platform, designed specifically for a new generation of collectors, is not just about trading; it leverages data and technology to simplify the process, making trading enjoyable and accessible for enthusiasts worldwide.
Subdial’s commitment to combining technology with watch trading has positioned it as a key player in the industry. With its proprietary trading platform launched just a year ago, it has attracted a global network of collectors who can manage their collections and access live market valuations. The incorporation of data is paramount, powering tools like the Bloomberg-Subdial Watch Index, which tracks the market trends of high-end timepieces in a manner akin to traditional financial indices. As the pre-owned watch market continues to expand, with an estimated value forecasted to reach $85 billion by 2033, Subdial stands at the forefront of this transformation, paving the way for a new era of watch trading that is as exciting as the timepieces themselves. Christy Davis expresses an optimistic outlook, noting that with Hennell's involvement, Subdial is ready to scale operations further and make trading as exhilarating as the watches they represent.
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