The Rapaport Group, has announced an acquisition of a controlling stake in the Watch Dealers Network (WDN). This venture has marked Rapaport’s foray into the watch trading segment, as till date it was a prominent industry driver for its diamond price lists.
The WDN functions as an electronic B2B platform for its registered members only comprising of watch manufacturers, professional watch dealers and jewellery retailers. It has a unique Watch Wizard programme, which helps leverage information sharing. Its proprietary online trading software is integrated with the databases, and when a prospective trading opportunity arises, members are informed through alerts like instant messages, text messages and e-mails.
WDN is into partnership with the International Watch and Jewelry Guild (IWJG). Following which, around 4,000 IWJG members are expected to join WDN, soon, which will create a stronger membership.
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