2023-08-27 23:31:17
watchmaking
Rolex: The watchmaker acquires Bucherer and takes a first step in the distribution of watches
Rolex recently announced the acquisition of luxury goods retailer Bucherer AG, giving it a strong presence in the retail sector.
With more than 100 points of sale around the world, Bucherer has established itself as a pillar of the watch/jewelry industry. Founded in 1888 in Switzerland by Carl-Friedrich Bucherer, the brand has specialized in the retail sale and, in particular, of the famous models of the manufacture to the crown and has been doing so for 100 years now.
Indeed, the two houses began their close relationship dating back to 1924 and, over the years, Bucherer has expanded the distribution of Rolex watches, with 53 of the 100 Bucherer boutiques selling Date Rolex watches and 48 Tudor watches, while serving as the official service center for the group’s two brands.
”Following the choice of Jörg Bucherer, in the absence of direct descendants, to sell the activity of his company, Rolex decided to take over the watch retailer that had been independent until then. This decision is part of the Geneva brand’s desire to perpetuate the success of Bucherer, as well as the close partnership between the two companies.“ – Rolex press release
This acquisition, the financial details of which have not been disclosed, constitutes an important change in strategy on the part of the world’s largest luxury watch brand and might in the long term have an impact on the entire Swiss watch industry. Analyst Jean-Philippe Bertschy of Vontobel adds that “This news represents an earthquake for the watch industry and will have long-term consequences for manufacturers and retailers of timepieces”.
The company also specifies in its press release that relations with the other official retailers of its sales network will remain unchanged and that the Bucherer brand (and its points of sale) will keep its name and continue to carry out its activity in a completely autonomous manner.
While, according to a statement from Watches of Switzerland, this acquisition “does not represent a strategic move by Rolex to enter the watch retail sector”, it is difficult to say at this time what the true intentions are. from the brand of the luxury watchmaking juggernaut, whose models are regularly out of stock at official retailers and which faces increasingly long waiting lists for the acquisition of certain models in high demand.
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