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When most people think about the suppliers within the luxury watch industry, they get the impression that the major players in the space have been around for decades, and have a pedigree that has spanned generations. Bradley Drake, an entrepreneur from the United Kingdom, had a much different idea in mind.
He’s the founder of Lux Watch Supply, a company that’s been able to give away nearly $4,000,000 in luxury watches to everyday consumers by way of a raffle system. On the idea of starting this business, Bradley says, “I had a hard time selling an apartment of mine, so I had the idea of raffling it off. There were a few companies that had the idea of raffling off expensive items, but none of them had really taken off. But, I liked the concept, and the idea of ‘giving away’ high-end watches for a relatively small entry price was staring me in the face.”
The business model is surprisingly simple once Bradley broke it down to us: he allows consumers to buy tickets for around $77 USD each, and if you’re lucky, you may just be the owner of an iconic Rolex, Audemars Piguet, or Patek Philippe. Once the raffle sells out, a winner is selected live on Facebook and Instagram. The simplicity and authenticity of the company paired with the iconic status of the watches given away have made the company a smashing success.
Not only is the idea brilliant, but so is Bradley’s execution. He says, “With our first few dozen winners, I really made an effort to hand-deliver them to the winners. It put a face to the brand, but it also instilled confidence in our customer base. People wonder what the catch is with this business, but there truly isn’t one.”
With how quickly the company has taken off, Bradley has taken a great initiative to give back to the community. Lux Supply has partnered with Ecologi, planting 1 tree for every ticket sold. The plan is to plant at least 100,000 trees this year.
As for what’s next, Bradley has major plans. He says, “We want to blow out Lux Supply Group. Our first raffle is now live, and it’s a beautiful Tesla Model 3 Performance. I think there are many angles for this business model, and I know I’m only just getting started.” Based on Bradley’s current track record, it’s not hard to believe him.