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Cristiano Ronaldo (38) loves to show off what he has. With nearly 600 million followers, her Instagram account is a true parade of luxury. The football billionaire flaunts his well-trained luxury body, numerous luxury cars, villas and yachts. And in each picture, a watch studded with diamonds and other precious stones shines on Ronaldo’s wrist. Most of the watches Ronaldo wears have six or even seven digits.
But Ronaldo isn’t just spending a lot of money. He is also trying to increase it. He operates in the hotel industry as an entrepreneur and investor, stands behind his clothing and underwear brand, and gives his name to perfume. He owns a hair care chain and rents his private jet when not in use.
And now Ronaldo has also become a shareholder in the world’s largest trading platform for pre-owned watches. Investment firm CR7 joins German Chrono 24 as an investor. However, nothing is known about the level of commitment.
Chrono 24 wants to expand with Ronaldo’s millions
“As a long-time watch collector and regular user of Chrono24, it’s my pleasure to partner with the company,” the football star said in a statement. Tim Stracke, founder and boss of Chrono 24, is of course happy: “No one has brought the passion for luxury watches to the world stage like Cristiano,” he says. As an investor, Ronaldo demonstrates “a keen knowledge of luxury and technology.” Combined with his passion for the watch collection, Stracke continues to make Ronaldo “the perfect partner for further global expansion and the next installment of Chrono 24”.
Cristiano Ronaldo is not the only leading investor in Chrono 24. In August 2021, Aglaé Ventures, the family investment firm of LVMH mastermind Bernard Arnault (74), starred in a financing round of over 100 million euros. That’s when it became clear: Chrono 24 is a unicorn, a listed company valued at over a billion dollars.
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This article was originally published on the paid service of handelszeitung.ch. Blick+ users have exclusive access as part of their subscription. You can find more exciting articles at www.handelszeitung.ch.
Chrono 24 shareholders include various technology investors, as well as former Richemont executive Gianni Serazzi and Alberto Grignolo, co-founder of online fashion retailer Yoox Net-a-Porter.
Worldwide watch value around 700 billion euros
Chrono 24 turns twenty this year. Approximately 530,000 watches from 3,000 dealers and 30,000 private sellers are currently sold in the online marketplace. About 9 million people use the platform every month. 1.3 million watch collectors have entrusted their watches to Chrono24 to track their performance in the second-hand market. Approximately 3.7 million hours with an estimated value of approximately 47 billion euros. In terms of value, this equates to about 7 percent of all watches worldwide. It is estimated that all watches in the world are worth about 700 billion euros.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
