Living the luxury life just got cheaper, albeit for a brief period of time. Luxury watch manufacturer DuBois et fils is leveraging the sharing economy in a disruptive move that appears aimed at reaching new consumers.
The Swiss brand will officially launch a watch rental scheme on July 1. The online reservation system allows consumers with limited disposable income access to a piece of wrist candy. For as little as CHF80 (about Dh300) per month, consumers can rent a limited-edition watch from one month to a year. A one-time membership and processing fee of CHF250 applies to all overseas orders.
For the first six months, the scheme is limited to the 850 shareholders from 31 countries who helped revive the brand in 2013. However, a publicist for the brand says the company is in talks with a partner in the UAE, and the rental pieces are is expected to be available in Dubai from January 1, 2017.
"In our digitised, global company, ownership is increasingly seen as a burden. Sharing is becoming the new norm, access more important than ownership,” CEO Thomas Steinemann said in a media statement.
“Even in the luxury price segment the rise in the sharing economy continues inexorably. The watch industry seems to have closed its eyes to this new development; not so at DuBois et fils," he added.
DuBois et fils produces highly limited watch collections, with a maximum of 99 pieces per model. Founded in 1785, it is the oldest watch factory in Switzerland.
