Soccer superstar Cristiano Ronaldo has invested in online luxury watch marketplace Chrono24, the company announced.
Known as CR7, Ronaldo topped Forbes’ 2023 list of highest-paid athletes, earning $136 million from sponsorships and contracts with soccer teams Manchester United and Al Nassr. He is an avid watch collector.
Chrono24 didn’t specify how much Ronaldo’s holding company, CR7 SA, invested, but his cash infusion came with new investments from a majority of existing shareholders.
Past investors in the company include the family of LVMH chairman Bernard Arnault, former Richemont director Gianni Serazzi, and Yoox Net-a-Porter founder Alberto Grignolo. Based in Karlsruhe, Germany, Chrono24 has been valued at over $1 billion.
“No one brings passion for luxury watches to the world stage quite like Cristiano,” said co-CEO Tim Stracke, who founded Chrono24 in 2003, in a statement. “[That] makes him the perfect teammate as our company moves further into global expansion and our next chapter.”
Top: Chrono24 CEO Tim Stracke and new business partner Cristiano Ronaldo (photo courtesy of Chrono24)
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