Top Online Watch Reseller, Chrono24, Appoints Former Zalando Leader as CEO

Chrono24, the largest online seller of fancy watches, has chosen Carsten Keller as its new CEO. Keller was a big shot at Zalando, an online store. He created Zalando's connected retail business and worked as the vice-president of direct-to-consumer. According to the company's statement, Keller will start his new role in January. The current CEOs, Tim Stracke and Holger Felgner, are stepping down, but they will still be part of the company as shareholders and board members. Stracke will now be the chairman of the board. This change is a significant shift for the German company, Chrono24, which is worth more than $1 billion and had thought about becoming a publicly traded company. The prices of fancy watches, like Rolex, Patek Philippe, and Audemars Piguet, started dropping in April 2022 after reaching record highs during the pandemic. Because of this, Chrono24 has noticed a slowdown in how much they are selling. Stracke mentioned in a recent interview that the sales volume for the upcoming year is expected to grow by about 3 percent. In the United States, they anticipate an 11 percent growth, and in the European Union, a 6 percent growth. So, in a nutshell, Chrono24 has a new CEO, Carsten Keller, who used to work at Zalando. The current CEOs, Tim Stracke, and Holger Felgner, are still staying on but in different roles. The company's value is over $1 billion, and it's been thinking about going public. The prices of fancy watches have been going down, affecting Chrono24's sales, which are expected to grow by 3 percent next year. In the U.S., they think it will grow by 11 percent, and in the European Union, by 6 percent.