- Digital Brand
Created in 2012, Red Luxury is a watch and jewelry company with a strong digital approach. It aims to disrupt the traditional watch and jewelry business by promoting differentiating products through alternative distribution networks. Red Luxury uses social media and Web Marketing tools to design and distribute its collection worldwide. The company has received great traction so far, and they have now operations in 12 countries while 87% of their revenue is made online.
Avolta Partners has advised Red Luxury in their fund raising led by Newfund. The fund raised will be used to sign new clients while expanding their product range. According to Romain Benichou, Red Luxury’s co-founder: ” This fundraising is the opportunity to develop our business on the connected watch segment, a market in great expansion. Our first smart watch will be launched late 2014 with our collaborator Vuarnet. ” And Red Luxury’s co-founder David-Emmanuel Cohen to add ” We are very excited to welcome a prestigious partner such as Newfund. Their expertise will help to consolidate our innovative business model while improving our clients’ profitability. “
Avolta Partners has also advised Red Luxury in the acquisiton of Timefy, the leading marketplace for design and urban watches lovers. The amount of the transaction has not been disclosed.