Swiss luxury goods conglomerate Richemont led by South African billionaire Johann Rupert is developing a digital platform dubbed Enquirus aimed at assisting law enforcement agencies worldwide in their endeavors to combat the rampant theft of luxurious watches and jewelry.
The platform, already boasting 175 leading luxury watchmakers and multiple jewelers preloaded, is now accessible to the entire luxury industry. Owners can now register their collections seamlessly on the platform using brand and serial numbers.
The digital platform, developed by the Rupert-led company, offers a gamut of features that enable owners of exquisite timepieces and jewelry to report theft or loss with ease.
Customers can conveniently verify the authenticity of the items they intend to purchase by checking whether the product has been flagged as stolen on the platform.
Thefts of luxurious watches and jewelry are on the rise
The Rupert-helmed Richemont’s unveiling of Enquirus could not have come at a more crucial time.
According to the LA County Sheriff’s Department, there have been more than 200 watch thefts worth $5,000 or more reported between January and mid-November 2022, representing an alarming 30-percent increase in watch-related robberies.
Several major cities, including London, Paris, and New York, have also witnessed a significant surge in violent high-end watch robberies over the past year, posing a grave threat not only to consumers but also to the Swiss conglomerate.
With consumers possibly reconsidering wearing their watches for safety reasons, Richemont’s sales — which surpassed €15 billion ($16.3 billion), in the first nine months of its 2023 fiscal year — could suffer a substantial blow.
Enquirus platform adoption skyrockets with impressive early results
Bloomberg reports that the Paris and Geneva police forces have joined the growing list of authorities registering with the groundbreaking platform.
Notably, the UK police have officially endorsed the platform as a security initiative, marking a significant milestone for the prestigious Swiss company, Richemont.
According to Richemont, thousands of customers have already seized the opportunity to upload their data to the platform, with more than 28,000 timepieces and jewelry items registered as lost or stolen.
