Applying data science to the pre-loved luxury timepiece market, London's Subdial raises £4 million

London’s platform for the trading of pre-loved luxury watches, Subdial has raised £4 million in new funds via Active Partners alongside existing angel investors, including Revolut seed investor John Ayton, Philip Morris UK and Ireland managing director Christian Woolfenden, and Matt Barker. With forced closures of physical retail locations, weaknesses and a reluctance to digitise in the luxury watch business became readily apparent: a 25 to 30 percent drop in revenues. So much so, that in July of this year, McKinsey issued a report citing that pre-owned was the fastest-growing segment in the fine jewelry and watches sector, with sales predicted to reach a staggering $29 to $32 billion by 2025. As a testament to Subdial’s offer, since its founding in 2018, the company has doubled its top-line revenue every six months, has a nearly perfect 5 out of 5 rating on Trustpilot, and appraised over 22,000 timepieces. At present, Subdial reports the addition of approximately 30 watches to the platform on a weekly basis, a number it plans to more than triple over the coming year.