Bradley Drake is the founder of Lux Watch Supply, a UK-based raffle-style supplier of luxury timepieces. Bradley has years of prior experience in both personnel recruiting and venture capital, and he has applied his entrepreneurial expertise to scale Lux Watch Supply into a major player in the watch industry. We sat down with him to learn more about the company and what his future plans are, and he had some key insights to share with us.
The Logistics Behind Lux Watch Supply
The idea behind his latest company was to give the average consumer the chance to own an iconic timepiece, and Bradley made it possible by way of raffles. Speaking on the topic, he says, “There were a few companies trying to do raffles in the UK, but none of them had really taken off. But I liked the concept and thought ‘what else could I give away using this model?’ And high-end watches were staring me in the face.”
Many people often wonder what the catch behind this business model is, but it’s as simple as it sounds. Buyers can purchase a ticket for around $77 USD, with the option to scale up to 25. Winners are selected via a randomizing software that is shown on a weekly Livestream, with each drawing being hosted by Bradley personally. So far, the company has given away nearly $4,000,000 in luxury watches that fanatics dream of owning - brands include Rolex, Patek Philippe, Audemars Piguet, Tudor and more. The company has also made it a priority to give back to various charities with each ticket sold. They have partnered with Ecologi to plant a tree for every ticket sold in his raffles, and are on track to plant over 100,000 this year alone.
Bradley’s Plans To Take Over the Raffle Space
Lux Watch Supply’s watches range from $15,000 to $50,000 in value, but Bradley has plans for even bigger giveaways with his next venture. Lux Car Supply is his next move, and he has plans to give away high-end sports and luxury vehicles under the same business model that has garnered such rapid success.
He says, “We want to blow out Lux Supply Group. We have our first car competition live at Lux Car Supply, and one person will win a brand new Tesla Model 3 Performance Edition.” Bradley is confident that there are many angles to take with this type of business model and feels he is only just getting started scaling.
Published by Jason Steinberg