2023-08-24 17:14:47
No one expected it, and yet it’s not surprising: the world’s leading watch brand has just acquired the world’s leading watch retailer.
In the midst of summer torpor, the day following the takeover of Swiss watchmaking, Rolex has just announced the surprise acquisition of watch retailer Bucherer. It must be said that the brand with the crown was already the most important partner of the Bucherer house.
The integration of Bucherer into the Rolex group will be effective once the competition authorities have validated the takeover operation. “This decision follows the choice of Jörg Bucherer, in the absence of direct descendants, to sell the activity of his company”, we explain on the side of the brand at the crown. Jörg Bucherer is also the last person still active having known and collaborated with Hans Wilsdorf, the founder of Rolex. He will remain the honorary chairman of the Bucherer group.
The proximity between the two houses is anything but new: it dates back to 1924, nearly a century. But it was in 1888 that businessman and entrepreneur Carl-Friedrich Bucherer and his wife Luise opened their first watch and jewelry store in Lucerne. The sons of Carl-Friedrich and Luise Bucherer joined the family business in the early 1920s. Thanks to their great experience, Ernst and Carl Eduard Bucherer increased the company’s prosperity. In 1924, Ernst Bucherer entered into a partnership with Hans Wilsdorf, the founder of Rolex, which would prove to be particularly interesting: he added the barely established watch brand to his assortment.
Rolex announces the surprise acquisition of Bucherer. Judikael Hirel
“Today, Rolex is one of the recognized leaders in the Swiss luxury watchmaking sector, explains the Swiss house in a press release. Bucherer has successfully established itself as an internationally renowned multi-brand retailer with outlets in Switzerland, the United States, England, Germany, France, Denmark and Austria. » Indeed, Bucherer now has more than 100 points of sale worldwide, including 53 distributing the Rolex brand and 48 distributing the Tudor brand. We also remember that, recently, Rolex had made Bucherer its privileged partner for the launch of its offer of certified and revised second-hand watches, Rolex Certified Pre Owned (RCPO).
Just ten years ago, in 2013, Bucherer celebrated its 125th anniversary and opened the world’s largest watch and jewelry boutique in Paris. In 2017, four London boutiques were added due to the acquisition of The Watch Gallery. Finally, in January 2018, Bucherer took over the American luxury watch distributor Tourneau, with its 28 stores in the United States, notably in New York and Las Vegas. Now with a global reach, Bucherer is today the first and largest watchmaker and jeweler in Europe.
Rolex announces the surprise acquisition of Bucherer. Judikael Hirel
The Rolex group says to itself “convinced that this takeover is the best solution for its own brands but also for all partner watch and jewelry brands, as well as for all employees of the Bucherer group. » He also asserts that Bucherer will keep its name and continue to operate independently. Moreover, this takeover may raise the question, “Rolex’s fruitful collaboration with the other official retailers in its sales network will remain unchanged. »
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