FILE PHOTO: Superocean Heritage watches of Swiss watch manufacturer Breitling are displayed at the Baselworld watch and jewellery fair in Basel, Switzerland, March 21, 2018. REUTERS/Arnd Wiegmann/File Photo
FRANKFURT (Reuters) - Switzerland's Chronext is preparing an initial public offering (IPO) that could value the online marketplace for new and pre-owned luxury watches at up to 1 billion euros ($1.2 billion), people close to the matter said.
Luxury watch brands, which had long considered the market for second-hand watches as a potential threat to their business, have been shifting their stance in light of the insights it can provide on pricing and demand.
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