UK Rolex Dealer Buys Watch Site Backed by LVMH, Tom Brady

Watches of Switzerland Group Plc is buying Hodinkee Inc., a US watch enthusiast site backed by LVMH and Tom Brady that racked up losses after an ill-timed foray into selling used models online.

The British company, which is the top seller of Rolex watches in the country and a major retailer in the US, said the deal will help capture market share, particularly online in the US, according to a statement Friday. Financial terms were not disclosed.

The sale marks an end to New York-based Hodinkee’s troubled entry into online used watch sales. Founded in 2008, the company produces ...