Thursday, June 20, 2024

F1 Star Charles Leclerc Invests in Luxury Watch Marketplace Chrono24

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Formula One driver Charles Leclerc invests in luxury watch marketplace Chrono24, supporting the company’s global expansion amid the secondhand timepiece boom.

Monaco’s Formula One racing driver Charles Leclerc has become the latest investor in Chrono24, the leading online marketplace for luxury watches. Leclerc, who is currently second in this year’s Formula One championships and recently won his home race at Monte Carlo, is contributing to Chrono24’s global growth both as a young investor and a dedicated watch enthusiast.

Leclerc, along with his brother Lorenzo, invested in Chrono24 through their family office, All Time, which focuses on supporting athletes’ entrepreneurial ventures. The Leclerc brothers join a group of notable Chrono24 investors, including international football star and watch collector Cristiano Ronaldo, Bernard Arnault’s Aglae Ventures, and major investment firms like General Atlantic, Insight Partners, and Sprints Capital. Chrono24, with a $1 billion valuation, has raised €100 million, including a Series B of €43 million in 2019 and a Series A of €37 million in 2015.

Chrono24 Tim Stracke and Charles Leclerc.
Chrono24 Tim Stracke and Charles Leclerc | Courtesy

“The watch world has long captivated me as one of my many passions,” Leclerc said in a statement. “There’s a real unification between watch lovers around the world, and my brother and I are excited to be an even deeper part of that community through our investment involvement with Chrono24.”

Tim Stracke, Chrono24 founder and Chairman of the Board, highlighted the significance of Leclerc’s involvement. “The idea of a sporting legend like Charles Leclerc joining Chrono24 as an investor is thrilling. He has achieved an incredible legacy already very early in his life, and his prowess as a young investor is a great example of his passion for performance.”

Chrono24 CEO Carsten Keller also expressed his enthusiasm about the Leclerc. “We are extremely proud to welcome Charles and Lorenzo into our Chrono24 adventure. These brothers are highly esteemed and share our passion for watches as well as our company’s drive for excellence. Their savvy is formidable, and together, we are poised to reach new heights.”

Since its founding in 2003, Chrono24 has established itself as the premier global online marketplace for luxury watches. Serving commercial watch dealers, private sellers, and watch enthusiasts across 120 countries in 22 languages, Chrono24 allows users to track the value trajectories of their timepieces, even if they were not purchased through the platform. The total value of watches tracked on Chrono24 exceeds $50 billion, accounting for eight percent of the estimated $750 billion worth of watches worldwide.

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