This Swedish crowdfunding hit is taking on Daniel Wellington – by letting you design a personalized luxury watch
(Jan 2017: http://nordic.businessinsider.com/this-swedish-crowdfunding-hit-is-taking-on-daniel-wellington—by-letting-you-design-your-own-scandinavian-made-luxury-watch-2017-1/)
Daniel Wellington, the Swedish watch empire headed by Filip Tysander, defined the watch trends for millenials in the post 2010-era.
A social media-savvy marketing strategy, combined with an accurate reading of prevailing trends and a seamless supply chain made the company’s revenues explode from 0 to $100+ million within five years.
But now there’s a new kid on the block, called BOOM Watches, and they’re openly inspired by Tysander’s achievements.
“There is a generation change in the industry where fashion brands have managed to reach tremendous success” says the company’s pitch on FundedByMe, a crowdfunding site.
But while Daniel Wellington built its brand and sales through social media influencers, this newcomer is instead focusing on crowdfunding. BOOM‘s campaign, which ended recently, managed to raise more than 5 million SEK ($550k) from more than 100 investors.
Another key differentiator is that BOOM’s customers will be able to tailor their own timepiece according to personal preferences.
“Today’s trends are increasingly moving towards customization and personalization, where individuals strive to create new looks and develop their own unique style” says BOOM.
- BOOM Watches
BOOM’s watches are made from four different components that can be combined in any way the customer chooses. And if you change your mind after purchase, you will be able to update your watch with new components as your tastes shift.
The company sells its watches both through a global network of distributors as well as its e-commerce platform.
Now it’s up to the Swedish upstart to prove itself among stiff competition – not least from its forerunner, Daniel Wellington.