As high net worth individuals and corporations including Tom Brady, LVMH Luxury Ventures and TCG step in, Hodinkee founder Benjamin Clymer will cede CEO duties after more than a decade at the center of the watch world.
On Wednesday, Hodinkee announced that it raised $40 million from a group of investors that include TCG, LVMH Luxury Ventures, True Ventures, Grammy-award winning musician (and major watch nerd) John Mayer, and six-time Super Bowl champion, Tom Brady. The investment values Hodinkee at more than $100 million, according to a person familiar with the matter.
Mr. Clymer is stepping aside as CEO of Hodinkee more than a decade after founding the company.
In that time, he’s become the watch world’s version of a celebrity, a bespectacled guru who’s cracked the complications of luxury horology and given everyday…