Eleven James Reinvents Modern Luxury for the Subscription Economy

NEW YORK, Nov. 20, 2017 /PRNewswire/ -- Eleven James, the membership brand for timepiece enthusiasts founded in 2014, is driving the experiential luxury paradigm forward with the launch of a new platform. Starting today, Eleven James' Watch and Earn™ service and 'Curated Collections' will transform how people access and indulge in the beauty and experience of luxury goods.

In an industry first, the company is introducing Watch and Earn—a consignment program designed to provide a centralized service for timepiece enthusiasts to monetize underutilized assets and earn an ongoing return on their watches. Taking a page from "sharing economy" brands like Airbnb and Uber, Watch and Earn allows collectors to consign one or more timepieces from their personal collections to Eleven James, in exchange for a monthly cash payment or subscription membership. Consignors also have access to appraisal, insurance, and care management from a single provider, plus the opportunity to sell their watches, if they so choose. Watch and Earn aims to remove the friction and effort currently required by timepiece owners to actively manage collections big and small.

"Eleven James is moving beyond just exploring how the sharing economy can democratize access to luxury," said new CEO Olivier Reza. "We are pioneering a paradigm shift, from ownership to experiential luxury, and bringing variety and choice to the category for the first time ever—helping our members explore the beauty and artistry of high-end goods, and select what naturally matches their unique desires and ever changing lifestyles. It really is permission to play with a modern, elevated way of living."

Mr. Reza, president and chairman of Reza, brings a deep understanding of the economics of high-end durable luxuries from years at the helm of his family's world-renowned jewelry business, as an investment banker, and as a director of Sotheby's, the international auction house. His vision for how the digital subscription model can truly revolutionize the luxury goods experience supported his move to become the CEO of Eleven James earlier this year.

In addition to Watch and Earn, Eleven James today introduces new Curated Collections, which provide members with a guided experience, starting with eight curated themes based on different consumer personas. Recognizing the intimidation factor that often exists when choosing a watch, Eleven James' in-house team of timepiece and luxury experts has pre-selected these unique collections to help guide members in their desire to discover timepieces that effortlessly fit their personal preferences.

"We've built our collections to be unexpected and fun and, of course, luxurious and elegant," says Chief Curator and avid watch collector David Lee. "We offer members the chance to go beyond traditional notions of ownership by maximizing the experience of anticipating, unboxing, and enjoying timepieces without the burdens of financial protection and upkeep. This gives everyone the opportunity to indulge in a new way to discover and appreciate storied timepieces, and casts off the constraints of this industry's dated, single path to purchase business model."

Eleven James will continue to offer Bespoke memberships for those who prefer to discover and choose their rotating timepiece collection on their own, and all members have access to specialists who will help them fill their virtual "watch box." Members can update and adjust their choices over time, and all watches are carefully inspected and maintained by a team of certified master watchmakers. A newly designed login portal lets members track their timepiece selections and bookmark for future rotations. Members can also review, redeem and track points, including those they earn for referring new members, as part of the Eleven James Rewards Program.

Eleven James partnered with BGIN, a division of The Burns Group, which is dedicated to brand transformations for startups across different industries. BGIN played an integrated role, acting as a strategic partner on work from brand strategy and identity, to messaging and creative, to user experience and packaging.

About Eleven James

Eleven James is a luxury timepiece membership brand that is driving the paradigm of experiential luxury forward. Through its subscription model, the company allows members to discover the world's most beautiful timepieces, enabling an experience that circumvents the traditional restrictions of luxury. Eleven James maintains collections of thousands of timepieces from over 30 prestigious brands, curated by a team of watch experts. Members can choose from different styles that enable them to experience, enjoy, and exchange luxury goods without financial or long-term commitment. Founded in 2014, the company has raised over $40 million in capital. For further information, please visit www.elevenjames.com.

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SOURCE Eleven James

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