PARIS — The novelty at Galeries Lafayette is pre-owned watches and jewels, with the opening of a dedicated shop-in-shop in the department store’s Haussmann flagship.
The 3,200-square-foot space, which bowed in mid-July on the ground floor, is called Hojo Vintage, a moniker inspired by “horlogerie-joaillerie,” the French terms for watches and jewelry.
Dovetailing with the recent overhaul of the Galeries Lafayette Haussmann store’s luxury offering, this addition was a year-and-a-half in the making, said Stéphanie Hernandez Barragan, buying and marketing director of the watches and jewelry division of the French department store.
The Rolex certified pre-owned space in Hojo Vintage.
Courtesy of Galeries Lafayette
“There were real expectations, many things that already exist on the market and a number of digital platforms, and we believe that the Galeries Lafayette have a real role to play in the secondhand market,” she told WWD. “Given our position, it was unthinkable not to go into that market. It was logical and, in our opinion, very complementary to the rest of our offer today in watches and jewelry.”
Given the complexity of the market, often considered a gray one particularly in terms of authenticity, the department store did not go at it solo.
“We want to make sure there can be no doubt in clients’ minds about our second-hand watch and jewelry offer,” Hernandez Barragan said.
It signed a trio of partners for the occasion: Rolex and its certified pre-owned (CPO) program, becoming the first department store to offer it; French luxury secondhand watch specialist Kronos 360, and Castafiore, a two-year-old platform launched by Anne Borne, who worked at Cartier for two decades, and Charlotte Rey, a veteran of the auction world.
Sitting catty-corner to Rolex’s store, the Hojo boutique is organized in two areas, one with six displays dedicated to Rolex’s timepieces on the left. On the right are the four dedicated to the brands offered by Kronos 360 and two displays for jewelry sourced through Castafiore.
The offer was made even more complementary by the brands in the secondhand selection. Save for Rolex, watchmakers currently present in the store will not be offered at Hojo.
In jewelry, where brands are less involved in CPO programs for now, houses such as Van Cleef & Arpels, Cartier and Boucheron have agreed to see pre-owned designs offered, provided these are more than 20 years old and not currently available in their catalogues, Hernandez Barragan said.
For now, the offer spans around 40 references in jewelry, ranging from 500 euros up to 35,000 euros.
For Hernandez Barragan, not only is this an additional offer for existing clients or those keen to get their hands on hard-to-find timekeepers, it is also a good way to break down barriers for new clients.
Inside the Hojo Vintage space.
Courtesy of Galeries Lafayette
“It’s a good way to attract a new clientele that may not dare push the door of these major brands. We often say we are a good alternative to Place Vendôme because it’s easier to enter Galeries Lafayette [than a jewelry flagship],” she said.
There is also the enduring interest in the secondhand market from younger shoppers, particularly the Gen-Z demographic.
Coming next could be a buyback program or a concierge service to help clients find the piece of their dreams. “The idea is to learn over time and adjust the offer depending on our clients’ expectations and requirements,” said Hernandez Barragan.
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