Luxury Time, South Africa’s Premier Watch Retailer, Attracts Investment from Fledge Capital
Luxury Time, a premium online watch retailer based in South Africa, has drawn the interest of Fledge Capital, a well-known independent investment firm. Celebrating its 19th anniversary, Luxury Time was founded by entrepreneur Adriaan Rootman and has established a strong reputation in the luxury watch industry. The company specializes in selling pre-owned authentic watches from top-tier brands such as Rolex, Omega, and Cartier.
Fledge Capital is recognized for investing in consumer brands with unique appeal and a solid foundation. They see Luxury Time as a fitting addition to their investment portfolio due to its alignment with their investment philosophy.
Rootman’s interest in watches began in his childhood, inspired by his father’s passion for timepieces. His entrepreneurial drive emerged during his teenage years when he recognized the potential of online selling. The turning point came when he noticed a significant price difference between a watch he purchased in Dubai for his mother and its retail price in South Africa. This revelation prompted Rootman to start acquiring luxury watches in bulk from local stores and initiate his online trading journey.
read also MTN Partners With Walt Disney to Offer Disney+ in South Africa
“In the past, there were concerns about online credibility,” recalls Rootman. “Nineteen years ago, people were hesitant to buy high-end products online.” This led Luxury Time to adopt a consignment-based model, where Rootman successfully sold watches on behalf of customers, earning both stock and a small commission.
By 2014, Luxury Time had built a loyal customer base, and with increasing demand for pre-owned watches, Rootman began purchasing watches directly. The establishment of a boutique office in Pretoria allowed customers to view their selected timepieces in person.
Today, Luxury Time operates with a customer-first approach. Prospective buyers can browse the online inventory and arrange to view watches in person at one of the company’s offices nationwide.
read also South Africa’s Commission to Release Online Markets Report on Monday
However, the journey to success wasn’t without its challenges. Rootman recognized the need for additional working capital to expand the business. While several investors showed interest, it was through an introduction to Fledge Capital that Rootman found the right partner.
Fledge Capital, founded by property investor Louis van der Watt and investment banker Konrad Fleischhauer, focuses on long-term potential and boasts an impressive investment portfolio. This portfolio includes partnerships with significant names such as King Price, Atterbury Property Investment, Oasis Water, and We Buy Cars.
With the infusion of investment from Fledge Capital, Luxury Time is poised for growth. The company plans to expand its inventory, enhance its online presence, and improve customer service capabilities.
Van der Watt and Fleischhauer share their optimism about this collaboration, stating, “Luxury Time is an exceptional business with innovation, growth potential, and a proven business model. With its appealing markets and data-driven strategies, it’s well-positioned for sustainable and profitable growth. We’re excited about working with Adriaan to unlock Luxury Time’s full potential.” This reflects the confidence they have in their latest investment venture.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard