Cristiano Ronaldo invests in Chrono 24 watch platform from Karlsruhe

Cristiano Ronaldo invests in Chrono 24 watch platform from Karlsruhe

Not only is Cristiano Ronaldo rich, the Portuguese soccer star also collects watches. It is therefore “a pleasure” for him to become a partner in the Karlsruhe company Chrono 24. At least that’s what the company claims to be the largest online marketplace for watches and proudly shows a photo of the five-time world footballer of the year with company boss Tim Stracke. Both do not reveal how much money Ronaldo has invested in the company through his investment company CR7 SA, but the investment is significant.

A unicorn from Karlsruhe

Bernd Freytag

Business correspondent Rhein-Neckar-Saar based in Mainz.

The business with used luxury watches is a big one and after a few rounds of financing, Chrono 24 is already valued at more than one billion dollars, according to its own statements, so it is considered a so-called unicorn among investors. The list of investors is therefore impressive: in addition to several corporations, the French billionaire and major shareholder of the luxury goods group LVMH Bernard Arnault has also invested in the company, as has Gianni Serazzi, former CEO of the Swiss luxury goods group Richemont.

Chrono 24 boss Stracke, former management consultant and serial founder, took over the platform founded in 2003 with partners in 2010 and focused on growth. Today he leads the company together with the former Team-Viewer CEO Holger Felgner.

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According to its own statements, the platform gathers nine million users, and more than 500,000 watches are offered for sale by private individuals and dealers every month. In its own “Watch Collection”, in which collectors present their luxury watches, 3.7 million watches worth 46.6 billion euros have now been uploaded by 1.3 million collectors.

However, after a rapid increase in 2021, the prices for luxury watches have fallen, in some cases significantly. According to the Bloomberg news agency, the market for used luxury watches is still promising after the dip. Accordingly, the consulting firm Deloitte expects growth of three quarters to more than 36 billion euros by the end of the decade.

Company boss Stracke said Ronaldo’s “astute knowledge of luxury and technology coupled with his passion for watch collecting makes him the perfect partner for further global expansion”. Ronaldo said he is very excited to be part of Chrono 24 from now on.

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