Philadelphia – There’s a new watch and jewellery brand in town, created by the combination of some familiar industry names.
Watch platform WatchBox and independent jewellers Govberg Jewelers (WatchBox’s parent company), Hyde Park Jewelers and Radcliffe Jewelers have merged to form The 1916 Company.
Prior to the merger announcement, WatchBox founders Justin Reis, Tay Liam Wee and Danny Govberg, third generation owner of Govberg Jewelers, acquired Hyde Park Jewelers and Radcliffe Jewelers.
By combining several prominent watch retailers, the new company aims to be a leading global platform and community for watch collectors.
It takes its name from the year Albert Govberg founded Govberg Jewelers, 1916.
Danny, Albert’s grandson, described the new company as a “107-year-old start-up”.
“The principles of our business are rooted in enduring relationships, while our commitment to innovation and transformative change drives us to anticipate the ever-evolving needs of discerning watch collectors today and tomorrow.”
The rebranding will take place via a phased rollout, with all companies eventually being renamed The 1916 Company, a spokesperson confirmed.
WatchBox co-founder Reis will serve as global CEO, while John Shmerler of Hyde Park Jewelers and Damon Gross of Radcliffe Jewelers will lead the company’s authorised retail network. Govberg will serve as executive chairman.
The merger combines “the strengths and heritage of the largest pre-owned platform with three independent jewellers. Hospitality, warmth, generations of experience and long-standing partnerships with the most respected luxury watch brands, including Rolex and Patek Philippe, set the tone for this next chapter,” the company said.
The 1916 Company is also part of the official network authorised to sell Rolex-certified pre-owned watches.
Govberg Jewelers, Radcliffe Jewelers and Hyde Park Jewelers were all authorised Rolex retailers prior to the merger.
The newly formed company has 13 locations, including eight multi-brand salons and five mono-brand boutiques in Philadelphia and Ardmore, Pennsylvania; Baltimore and Towson, Maryland; Newark, Delaware; Denver, Colorado; Newport Beach, California; and Scottsdale, Arizona.
It also operates lounges in New York, Los Angeles, Miami and Boca Raton, Florida, as well as in Switzerland, Hong Kong, Singapore, Shanghai and Dubai.
“We want collectors and enthusiasts to enjoy visiting us around the world [and] to feel part of our extended family and ‘Collector’s Circle’ as they discover The 1916 Company’s uniquely personal approach to collecting and our exceptional watch and jewellery collections,” said Shmerler.
Its collection of watches, both in-store and online, is valued at $200 million, the company said, with a focus on “ultra-rare, collectible timepieces” and “artisanal, independent” watches.
WatchBox was founded by Govberg, Reis and Wee to improve the experience of collecting, selling and trading watches while connecting watch enthusiasts.
This new venture will continue that work, says Reis, by providing collectors with a place for new and pre-owned watches and fine jewellery, as well as a network of lounges and boutiques, and a media platform.
“Watches have the power to bring people together,” says Reis.
“Over the years, we’ve seen that our collectors want not only digital connectivity, but also the rich experience of physical interaction – they value the bonds they form with our dedicated customer advisors and the friendships they’ve made in our community.”
The new company is “a natural progression for us”, he said, informed by his clients.
“With The 1916 Company, we’re strengthening the sense of community rooted in our existing relationships, while eagerly embracing the opportunity to forge new ones. Our vision begins and ends with our customers.
New and existing customers of WatchBox, Govberg, Radcliffe and Hyde Park Jewelers will be introduced to The 1916 Company over the next six months, the company said.
