on The Platform Group AG (isin : DE000A2QEFA1)
The Platform Group AG Acquires CHRONEXT Group
The Platform Group AG, a leading software company, announced the acquisition of the CHRONEXT Group, a major luxury watch retailer in Germany. The asset deal includes Chronext's assets, inventories, brand rights, and online stores. The transaction is expected to close in December 2024, with specific financial details undisclosed.
Chronext has become a renowned name in luxury watch retail, working with brands such as Rolex and Cartier. It has served 175,000 customers in 60 countries, with over 40% of sales from repeat customers.
The merger aims to expand Chronext's platform strategy with certified dealers. From January 2025, efforts will focus on expanding the product range and customer base. The management team will include Philipp Weiner, Frederike Knop, and Frederic von Borries.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all The Platform Group AG news