With the help of a £5m funding package from HSBC, Watchfinder, the pre-owned luxury watch retailer has opened a new store in Canary Wharf, creating 13 new jobs
The funding from HSBC was part of a larger investment in Watchfinder, allowing an enhanced and increased range of luxury watch supply available to its online customers and stores across the UK. The new store in Canary Wharf joins their existing stores in The Royal Exchange, The Village Bluewater, Victoria Quarter in Leeds, The Burlington Arcade and Invicta House in Maidstone.
The investment package from HSBC has enabled the business to use its own funds to open the Canary Wharf store. In addition to this, Watchfinder will be investing in its own training programme and moving the business to new international markets with the launch of US and Australian websites.
Matt Povey, HSBC’s Relationship Director for Corporate Banking in Kent, said: “Three years ago Watchfinder was a small online business with a team of just 40 people. The business now has specialist, niche retail stores across the UK, over 100 employees and is expanding internationally. With a constantly growing profile, it was clear the company needed funding to meet its ambitious growth plans.”
“HSBC provided support and guidance to Watchfinder throughout the company’s journey, allowing the business to invest in its ambitious business plan, including making the watchmaking trade popular again through investing in young apprentices with a new training programme. This is a fantastic example of how HSBC supports the local economy, SMEs and employment opportunities and we very much look forward to assisting the business’s growth for many years to come.”
Stuart Hennell the MD and Co-Founder of Watchfinder, added: “We were thrilled to have officially opened our new store in Canary Wharf in time for Christmas. We have seen that there has been a recent flourish in demand for luxury watches and believe Watchfinder meets this demand with specialist, high-end watches in-store and online. We want to bring the art and craftsmanship of watchmaking back and preserve its heritage, which is why we are investing in specialist training for our apprentices. We have grown so quickly over the past few years and none of this would have been possible without the support of HSBC.”
Watchfinder – Where and how
Watchfinder is an online and small frontline retailer of luxury watches in the UK and internationally, selling high-end watches with brands including Rolex, Omega, Tag Heuer and Cartier. The company was recently shortlisted for The Times award as one of the 100 fastest growing companies in the UK.
You can view their current timepieces for sale on the company website here: www.watchfinder.co.uk