How shopping for watches online went mainstream
DM London chairman David Coleridge tells us how the watch retail industry is changing with the times
DAVID Coleridge has always been a man with a vision; one of those people who are ahead of the curve, a leader rather than a follower.
It sounds hyperbolic but without him, in his auspices as chairman of DM London, the umbrella company that incorporates The Watch Gallery and The Watch Hut, we probably wouldn’t be as comfortable as we now are spending over £30,000 at the click of a mouse.
“We have now been selling watches online for more than five years,” explains Coleridge. “It began with designer watches and has now evolved into luxury Swiss watches. Generally, buying a beautiful watch is a decision reached over quite a long period of time. Having decided they would like to buy a watch for themselves, or as a gift, people start their research online. As trust in the online marketplace has developed many will want to purchase online for the convenience it provides and the time it saves. Established sites such as ours build trust and awareness with customers, which gives them confidence to purchase more and more expensive items.”
One of the ways in which The Watch Gallery has been clever in persuading people to part with their hard-earned bonuses is by adopting the Net-a-Porter model and introducing a same-day delivery service.
“The market is competitive and we needed to offer a better service than other retailers,” says Coleridge. “The convenience of not having to get in your car and drive to the store has a great appeal to customers with little free time.”
And it’s not just the buying public who are knocking on The Watch Gallery’s door – the brands are also keen to work with them on exclusive limited editions. Previous collaborators include Bremont, Bell & Ross and Zenith, while the most recent to join the list is Hublot.
“We share a lot of the same values – the right people and the right level of service,” says Jean-Claude Biver, board chairman of Hublot, which collaborated on a limited edition Fusion with the Watch Gallery, featuring a blue second hand and a blue sapphire case back, in the store’s signature shade.
“We always try to team up with brands that share the same values as The Watch Gallery,” says Coleridge. “And we feel that these collaborations cement our reputation as a world-leading retailer in terms of watches.”
OTHER TOP WATCH RETAILERS
Wempe (New Bond Street) – specialises in: Patek Philippe, Rolex, A Lange & Sohne (wempe.com)
Harrods (Knightsbridge) – specialises in: Richard Mille, Panerai, Audemars Piguet
David M Robinson (Canary Wharf) – specialises in: Patek Philippe, Rolex, Omega
William & Son (Mount Street) – specialises in: Breguet, H Moser & Cie, FP Journe
Marcus (New Bond St) – specialises in: Hublot, MB&F, Franck Muller
Watches of Switzerland (Royal Exchange) – specialises in: Patek Philippe, Rolex, Breitling