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Bradley Drake is the founder of Lux Watch Supply, a company based in the United Kingdom that has spent the last few years putting high-end luxury timepieces on the wrists of his clients for less than 1% of their retail cost. Sounds too good to be true? Bradley has revolutionized the premium raffle sector, meaning his players need only purchase one ticket (around $77 USD) to win the watch of their dreams. We recently spoke with this creative entrepreneur to learn more about his story and company.
Bradley has always had a hustle about him, something that he put to use during his past ventures. But he wanted to combine his knack for entrepreneurship with his passion for luxury watches. After working out the logistics, marketing costs and profit margin, he launched Lux Watch Supply, and the company’s rapid success has been impressive: in less than two years, they’ve given away nearly $4 million worth of the world’s most sought after timepieces.
While most high-end jewelry and watch brands cater to upper echelon customers, Bradley wanted to give the average consumer the chance of owning an iconic timepiece. As such, Lux Watch Supply operates on an accessible model, sharing weekly raffles with prizes ranging from $15,000 to upwards of $50,000. He’s also ensured that the company seeks to do some good in the process, donating a portion of each sale to charity.
A large component of the company’s success has been Bradley’s dedication to making the raffles a personalized experience. He makes an effort to hand deliver as many watches as possible to the winner of the giveaway. He also personally hosts each drawing live on the company’s social media pages, using a randomizing software to show the results in real time.
When asked what advice he’d give to someone looking to get started in business, Bradley says, “Don’t let other people’s failure in a particular area stop you from pursuing something you want to do. The raffle space was struggling when I got into it, but I focused on how I can improve it and make it work for the business I had in mind.”
It’s clear that his willingness to take on the risk and disrupt a stagnated industry has paid off in a tremendous way, and Bradley is focused on expanding his success within the space. He says he has plans to blow out Lux Supply Group’s success with similar raffles for more premium goods, including handbags, wine and even automobiles.
Lux Watch isn’t just stopping there – they’ve partnered with Ecologi, planting 1 tree for every ticket sold, the plan is to plant at least 100,000 trees this year. On the company’s expansion, he says: “This is just the beginning. I think there are a ton of angles for this business model, and I have no plans of slowing down anytime soon.”