Luxury Goods Retailer Bucherer Acquires Digital Authentication Startup Adresta
by Fintechnews Switzerland October 5, 2022Swiss digital authentication startup Adresta has been acquired by Bucherer Group, one of the world’s largest luxury watch and jewellery retailers, effective 30 September 2022.
A spin-off from Helvetia Insurance, Adresta develops blockchain-based digital certificates for luxury goods. Users can then access said certificates at any time on the Adresta website and app.
This enables, among other things, forgery-proof proof of ownership and authenticity especially for buyers of pre-owned watches.
Adresta will be fully integrated into the Bucherer Group immediately, with its technology expected to complement Bucherer’s existing “certified pre-owned” service which was launched in 2019 as well as bolster the retailer’s online shopping experience.
Guido Zumbühl
“We are taking a few big steps forward in implementing our digital strategy with the integration of Adresta to offer our customers a comprehensive shopping experience. We look forward to integrating this innovative company into the Bucherer Group,”
said Guido Zumbühl, CEO, Bucherer Group.
Mathew Chittazhathu
“Our platform solution not only offers easy access to blockchain-based certificates but is the basis for a continuously expandable ecosystem. We have found the ideal partner in Bucherer for us to develop our solution further and establish it optimally on the market for the benefit of customers,”
said Mathew Chittazhathu, Co-Founder and CEO, Adresta.
