(Bloomberg) -- Chronext AG plans to list on the Swiss stock exchange as the online luxury-watch retailer enjoys a boom in demand led by younger generations.
The initial public offering is expected to include a primary component of about 250 million francs ($273 million) as well as a secondary component from existing shareholders, the company said in a statement.
Founded in 2013, Chronext is a marketplace that sells both new and second-hand watches, mostly from third-party distributors. The proceeds from the initial public offering will be used for technological investments and to expand into new markets, such as the U.S. and Asia, via potential M&A deals. The company’s business is mainly focused on Germany, Austria and Switzerland.
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