Indonesia's $6B Luxury Watch Market: Flecto.id Redefines Buying and Selling of These Coveted Collectibles
The luxury watch market in Indonesia is massive, with more than US$6-10B worth of watches in circulation in the country and more than US$600M worth of watches exchanged every year. Flecto, the leading Indonesian luxury watch online marketplace, is revolutionizing the way discerning buyers access premium watches. With an extensive collection of over 1,800 watches, Flecto proudly boasts the largest
- (1888PressRelease) June 07, 2023 - Recently, the value of luxury watches in Asia has skyrocketed and has outperformed stocks and crypto gains. For example, Rolex Submariner, the iconic watch that is well-known among watch enthusiasts, experienced a price increase of more than 50% above its official retail price in 2020 and 2021. This increase in demand is driven due to the availability of online literature about horology and also from investors looking to purchase watches as an investment asset with clear utility.
"We are thrilled to introduce Flecto as the premier luxury watch online marketplace in Indonesia," said Gary Lilardi, CEO and Co-Founder of Flecto. "Our goal is to provide discerning buyers with a curated selection of premium timepieces, supported by transparency, authenticity, and a seamless shopping experience. We believe that Flecto will redefine the way luxury timepieces are bought and sold in Indonesia."
One of the key differentiators of Flecto is its dedication to providing authentic luxury timepieces. Recognizing the importance of trust and confidence when purchasing pre-owned luxury watches, Flecto offers authentication services by its in-house team of Flecto Watch Specialists. This authentication process guarantees that each watch is genuine, relieving buyers of any concerns about authenticity.
The company offers secure escrow payment, insured shipping, and a transparent return policy. By prioritizing transparency, trust, and authenticity, Flecto establishes itself as a trusted partner for luxury watch enthusiasts across Indonesia.
Flecto's online marketplace boasts a range of curated selection of luxury watches from verified merchants. Authorized merchants and collectors can now showcase their inventory online and expand their reach to a wide group of luxury watch buyers and enthusiasts.
Flecto is committed to creating a dynamic marketplace that fosters collaboration and supports the growth of the luxury watch industry in Indonesia for both buyers and sellers.
Furthermore, to ensure the availability of brand new watches from trusted sources, Flecto has established partnerships with official brand authorized dealers. This strategic collaboration enables Flecto to offer a wide selection of brand new luxury watches, straight from authorized channels. By combining pre-owned and brand new watches, Flecto offers customers a comprehensive range of choices, catering to every preference and budget.
“When merchants join Flecto, they will have access to a unique set of features that is available only to Flecto merchants”. Remarked Nikolas Tjhin, COO and Co-Founder of Flecto. “Merchants are able to reach a wider audience, manage their watch inventory, and get access to financial service products such as working-capital loans”.
The value of luxury watches in circulation in Indonesia is estimated to be US$6-10B, which represents a large opportunity for Flecto to provide commerce and lending services on luxury watches as a commodity.
Flecto is slated to become the go-to destination for luxury watch enthusiasts in Indonesia, setting new industry standards for selection, transparency, and customer satisfaction. To date, the company has booked GMV of more than US$500,000, and watch inventory value of over US$8M from 30+ merchants on its platform. Visit the Flecto.id website today to explore the unrivaled collection of luxury watches and experience the future of luxury watch shopping.
For Media Inquiries, please contact:
Nikolas Tjhin
COO & Co-Founder
Nik ( @ ) flecto dot id
Press Kit: https://drive.google.com/drive/folders/1Dc7rhgNKIeHGQM_Vt8gqvL839O1VYc24
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