Boston-based European Watch Company has acquired Crown & Caliber, the pre-owned watch retail brand, from Hodinkee. While Watches of Switzerland Group recently purchased Hodinkee’s media business, Crown & Caliber was not included in the deal, likely because the group already owns its own certified pre-owned brand, Analog Shift.

JOSH AND ALBERT GANJEI
Joshua Ganjei, CEO of European Watch Company (left) with Albert Ganjei, Founder of European Watch Company.

Crown & Caliber, once one of the largest pre-owned watch traders in the U.S., was acquired by Hodinkee in 2021 after raising $40 million in a Series B funding round. The acquisition was reported to cost up to $46 million. However, as the pre-owned market softened and prices dropped, Crown & Caliber became a financial burden for Hodinkee, prompting the sale.

European Watch Company’s purchase of Crown & Caliber includes only its digital assets, not its inventory, and products will no longer be sold through the Crown & Caliber website, according to Bloomberg. Founded in 1993 by Albert Ganjei and now led by his son, Joshua Ganjei, European Watch Company continues to expand its footprint in the luxury watch market.