Prestigious luxury watch retailer Chrononet has recently aligned with and taken over Global Art Group. Established watch retailer Chrononet has recently rebranded as Global Art Group after working closely with the company and expanding their interests into the art market, leading to a fully-fledged takeover of Global Art Group.
What had previously been something of a supplementary business line for Chrononet, quickly began to take over their trade lines and due to their rapid growth in their ‘secondary’ market, Chrononet felt that they required a global partner in order to match their ambitions and increase their reach in this market.
Global Art Group, established in 1997, well over 20 years ago, have the background and market expertise that matched with Chrononet’s desire and forward thinking, creating a strong partnership that will potentially disrupt the established players currently strong-arming the art industry.
Utilising Chrononet’s current logistical prowess and drive, combined with the experience and know-how from Global Art Group’s years in the business, the merge will take the company to the next tier in the industry.
Chrononet’s current top-level experience in the luxury market is a natural segue into the art industry, with many of the same contacts and professionals working in both sectors, making the transition and continuation of business seamless.
Chrononet have purchased all aspects of Global Art Group, including their staff and infrastructure; Chrononet were very keen to emphasise that there have been no redundancies and they have acquired Global Art Group for their whole business, and not just to utilise the company name.
A spokesman for Global Art Group said “this is an incredibly exciting time for us as a company, and is a transition we have been itching to make for some time, but the right partner for us just never seemed to materialise – but with Global Art Group’s experience and Chrononet’s business and market acumen, we were 100% sure this was the perfect marriage”.
“The art market is huge, and in recent months we have found our enquiries leaning more and more towards broaching both markets – this transition will enable us to take new, and existing investors with Chrononet, into the art market with us, and all the limitless possibilities that the market provides”.
The rebranding of Chrononet has taken immediate effect, and Chrononet will hereafter be trading as Global Art Group.