PARIS —+.
Leclerc expressed his enthusiasm for the watch world, stating, “The watch world has long captivated me as one of my many passions. There’s a real unification between watch lovers around the world, and my brother and I are excited to be an even deeper part of that community through our investment involvement with Chrono24.”
Tim Stracke, the founder and chairman of the board of Chrono24, described Leclerc’s investment as thrilling, highlighting his achievements and passion for performance.
Leclerc, a 26-year-old Monegasque, currently competes for the Scuderia Ferrari team in Formula 1 and is ranked second in the 2024 championship. He recently won the 2024 Monaco Grand Prix, his first victory on his home turf.
Apart from his racing career, Leclerc serves as an ambassador for brands like jeweler Apm Monaco and Swiss watchmaker Richard Mille. He has also ventured into other businesses, such as launching a range of calorie-reduced ice creams called Lec in April and co-founding the All Time family office dedicated to athletes with his brother Lorenzo Leclerc in 2022.
Chrono24, based in Karlsruhe, Germany, did not disclose the exact size of the investment made by the Leclerc siblings. However, its CEO, Carsten Keller, expressed excitement about the partnership, noting the shared passion for watches and drive for excellence.
While the secondary luxury watch market has seen stabilization after a post-pandemic bubble, it is projected to grow significantly in the coming years. Chrono24, in its report on the first quarter of 2024, noted increased demand for luxury watches and rising prices for several brands.
In April, the platform launched a certified authenticity program for watches priced at 1,000 euros and above, aiming to reassure buyers and sellers. Cristiano Ronaldo is also among the investors in Chrono24.
With a 2021 Series C round raising over 100 million euros, Chrono24 achieved a valuation of $1 billion. The fundraising was led by private equity firm General Atlantic and included investors such as Aglaé Ventures, Insight Partners, and Sprints Capital, among others.
