Richemont Unveils Platform to Reduce Jewelry and Watch Theft

Richemont has launched a digital platform where multiple parties can upload and share information on watches and jewelry in an effort to limit industry-related crime.

The Swiss luxury conglomerate created the Enquirus platform in collaboration with watch and jewelry manufacturers, law enforcement agencies, insurance companies, the pre-owned market, and clients, it said last week. It is open to all luxury brands and allows different users to upload, search and share data on every piece.

The retailer intends to recruit as many industry members as possible, as well as the police departments of all major cities globally, explained Frank Vivier, chief transformation officer at Richemont. It currently has more than 175 luxury watch brands and several top jewelry brands signed up to the platform, including Richemont labels and others in the trade. “Thousands” of customers have already uploaded their collections to the site, with over 28,000 pieces registered as lost or stolen, according to the company.

“By providing free access for customers and industry partners, the opportunity to sell stolen watches becomes more prohibitive, with the ultimate objective of reducing the incentive to steal watches in the first place,” said Richemont CEO Jérôme Lambert.

Image: A display of luxury watches from Richemont-owned brand Piaget. (Shutterstock)