Luxury re-commerce platform ShopWorn announced a program with Graham Watches to support the premium Anglo-Swiss heritage brand’s relationships with retail partners. Through the ShopWorn BuyBack Partnership Program, Graham can assure retailers that whatever products don’t sell after some time will be bought by ShopWorn.
Retailers will no longer be left with past season’s Graham watches and can better experiment with different product assortments without risk. In a first for the Swiss watch secondary market, ShopWorn is now the only platform officially sanctioned with exclusive rights to sell the watch brand’s aged inventory.
“ShopWorn is a key contributor to the economic development of luxury watchmaking in the USA,” said Eric Loth, founder of Graham Watches. “Building a trustworthy digital platform and collaborating with them to create a win-win-win situation helps the brand and retailers to keep the market clean and supply at optimal cost. Effectively keeping the market à jour and offering the brand added value for their clients, Shopworn points out the need to transform the business of luxury goods.”
“The COVID-19 pandemic has created challenges for a lot of our retail accounts,” added Patric Zingg, managing director of Graham. “But thanks to this partnership, we have been able to work together with our retailers and re-seller to reduce our excess inventory from three years down to one. As we continue working with ShopWorn, we hope to see that number decline further to under six months.”
ShopWorn was launched in 2015 by CEO Larry Birnbaum as an avenue for luxury brands and authorized retailers to recover some of their investments from unsold inventory.
“We’re honored to have such an esteemed brand as Graham entrust us with the proper distribution of their past seasons’ inventory,” said Birnbaum. “We welcome luxury brands seeking sustainable, cost-saving measures to reduce their unsold stock while partnering with a company that prioritizes transparency, long relationships and above-board dealings. The ShopWorn BuyBack partnership is open to all who wish to join us as the retail business evolves.”