Formula 1 sensation Charles Leclerc, in collaboration with his brother Lorenzo, has ventured into the luxury watch market by investing in Chrono24, the world’s largest online marketplace for high-end watches. This move highlights a strategic step beyond the Ferrari driver’s illustrious racing career, aligning with his personal passion for timepieces. Chrono24, which has previously attracted investments from global sports stars and major venture capital firms, welcomed the Leclerc brothers as they bring both their financial support and a shared enthusiasm for luxury watches to the table.
The Monegasque, notably securing his first victory at the recent Monaco Grand Prix, is currently second in the championship standings behind Max Verstappen. Off the track, alongside his brother, he operates ‘All Time,’ a family office that manages business interests for athletes, demonstrating their substantial business insight.
Chrono24 has become a significant player in the luxury goods market since a pivotal funding round in August 2022 raised $118 million, skyrocketing its valuation to over $1 billion and earning its status as a unicorn company. The platform’s vast array of investments includes contributions from Cristiano Ronaldo and major firms like Aglae Ventures and General Atlantic, highlighting its broad appeal and robust financial backing.
With this investment, Charles Leclerc not only diversifies his entrepreneurial endeavors but deepens his engagement with a field he is passionate about. Carsten Keller, CEO of Chrono24 who assumed his role in December 2023, praised the Leclercs’ involvement, indicating a significant endorsement from within the industry.
Chrono24’s founder Tim Stracke smiles alongside Ferrari F1 driver Charles Leclerc. The Monegasque has invested in the online timepiece market.
Chrono24
Charles Leclerc shared his enthusiasm:
“The watch world has long captivated me as one of my many passions.
“There’s a real unification between watch lovers around the world, and my brother and I are excited to be an even deeper part of that community through our investment involvement with Chrono24.”
Carsten Keller accentuated the positive impact of their collaboration:
“We are extremely proud to welcome Charles and Lorenzo into our Chrono24 adventure. These brothers are highly esteemed and share our passion for watches as well as our company’s drive for excellence. Their savvy is formidable, and together, we are poised to reach all-new heights.”
This investment by Charles and Lorenzo Leclerc stands at the intersection of luxury, celebrity influence, and entrepreneurship, highlighting a growing trend among athletes who extend their influence beyond the sports arena into wide-reaching business ventures. As the relationship between the Leclerc brothers and Chrono24 begins, the watch industry and its enthusiasts keenly anticipate the innovative directions this partnership will foster.
Uncommon Knowledge
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.