Bucherer agrees takeover of blockchain start-up

The blockchain technology developed by Adresta for forgery-proof ownership and authenticity verification of watches will, with immediate effect, be owned by the Lucerne-based Bucherer Group. With this takeover, the long-standing family company with a rich business tradition is seeking to offer its customers another digital service, further details of which can be found in an article published by startupticker.ch. “With the integration of Adresta AG, we are taking a few big steps forward in implementing our digital strategy”, comments Guido Zumbühl, CEO of the Bucherer Group.

Since being spun-off from Helvetia Insurance in 2019, Adresta has specialized in creating blockchain-based digital certificates for watches. These allow forgery-proof ownership and authenticity verification, especially for buyers of previously owned watches. For its part, Bucherer has also been one of the world’s leading providers in this segment since 2019. The company operates 70 proprietary retail stores in Switzerland, Germany, Austria, France and Denmark, as well as the UK and USA.

“In Bucherer, we have found the ideal partner for us to develop our solution further and establish it optimally on the market for the benefit of customers”, comments Mathew Chittazhathu, co-founder and CEO of Adresta, in the article, before adding: “Our platform solution not only offers easy access to blockchain-based certificates but is the basis for a continuously expandable ecosystem”. Bucherer now intends to expand this together with part of the founding team around Mathew Chittazhathu.