Adresta gets acquired by the Bucherer Group
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Adresta developing a counterfeit-proof proof of ownership and authenticity for watches will be fully integrated into the Bucherer Group, one of the world's largest retailers of luxury watches and jewelry, with immediate effect. Adresta participated in Venture Leaders Mobile in early 2022.
Zurich -based Adresta has successfully evolved since its spin-off from Helvetia Insurance in December 2019 and has specialized in the creation of blockchain-based, digital certificates for watches. The certificates are accessible to users at any time on a SaaS platform and via a mobile app. This enables forgery-proof proof of ownership and authenticity, especially for buyers of previously owned watches. With its Certified Pre-Owned (CPO) watches, Bucherer has been one of the world's leading suppliers in this segment since 2019.As part of the company takeover, part of the dynamic founding team around Adresta CEO Mathew Chittazhathu will be employed at Bucherer to drive development work and the further expansion of the software into a digital ecosystem. In the final phase, Bucherer customers will have digital access to an exclusive shopping experience with additional services. The digital offer supplements Bucherer's existing services in almost 70 of its own boutiques in Switzerland, Germany, Austria, France, Denmark, the UK, and the USA.
«With the integration of Adresta AG, we are taking a few big steps forward in implementing our digital strategy. We want to offer our customers a comprehensive shopping experience, which increasingly also includes digital services. We look forward to integrating this innovative company into the Bucherer Group." comments Guido Zumbühl, CEO of the Bucherer Group.
"In Bucherer, we have found the ideal partner for us to develop our solution further and establish it optimally on the market for the benefit of customers," says Mathew Chittazhathu. «Our platform solution not only offers easy access to blockchain-based certificates but is the basis for a continuously expandable ecosystem. We look forward to the challenge under the Bucherer umbrella.”
Adresta participated in Venture Leaders Mobile in early 2022.
Adresta co-founder and CEO Mathew Jobin Chittazhathu pitching in Barcelona during Venture Leaders Mobile 2022
Source: Adrestra Press Release
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