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Rolex to Acquire Longtime Partner Bucherer
The watch retailer, which has more than 100 stores, will keep its name and continue to run its business independently, said Rolex.
The Bucherer 1888 TimeDome store in Las Vegas. Rolex plans to acquire the Swiss watch retailer for an undisclosed amount.
Geneva—Rolex plans to acquire watch and jewelry retailer Bucherer, the brand announced on Thursday afternoon.
The amount of the acquisition was not disclosed.
Jörg Bucherer, chairman of the board of directors and great-grandson of the retailer’s founder, has no direct descendants and was looking to sell the business, which was an independent entity until now.
The two companies have worked together for nearly 100 years, said Rolex. Jörg Bucherer was one of the last people to have known and worked with Rolex founder Hans Wilsdorf, who died in 1960.
“The professional relationship, friendship ties and mutual respect have endured to this day,” said Rolex.
Carl-Friedrich Bucherer and his wife, Luise, founded Bucherer in Lucerne, Switzerland, in 1888. It was one of the city’s first specialist watch and jewelry stores.
The company since has expanded to a worldwide, multi-brand retailer with stores in Switzerland, the United States, England, Germany, France, Denmark and Austria.
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The amount of the acquisition was not disclosed.
Jörg Bucherer, chairman of the board of directors and great-grandson of the retailer’s founder, has no direct descendants and was looking to sell the business, which was an independent entity until now.
The two companies have worked together for nearly 100 years, said Rolex. Jörg Bucherer was one of the last people to have known and worked with Rolex founder Hans Wilsdorf, who died in 1960.
“The professional relationship, friendship ties and mutual respect have endured to this day,” said Rolex.
Carl-Friedrich Bucherer and his wife, Luise, founded Bucherer in Lucerne, Switzerland, in 1888. It was one of the city’s first specialist watch and jewelry stores.
The company since has expanded to a worldwide, multi-brand retailer with stores in Switzerland, the United States, England, Germany, France, Denmark and Austria.
Bucherer has more than 100 sales outlets, including 53 that offer Rolex and 48 that sell Tudor watches, a Rolex-owned brand. It’s also an official after-sales service center for both brands.
The Swiss watch and jewelry retailer acquired Tourneau in 2018 and began to gradually transition those stores to using the Bucherer name.
It recently reopened its Las Vegas flagship, redesigning the former Tourneau location. The store carries certified pre-owned Rolex watches as part of Rolex’s new program.
“The Rolex group is convinced this acquisition is the best solution not only for its own brands but also for all the watch and jewelry partner brands, as well as for all the employees of the Bucherer group,” said Rolex.
Bucherer will retain its name and continue to independently run its business.
The company did not respond to a request for comment on the acquisition, directing inquiries to Rolex’s statement.
The acquisition, followed by an integration into the Rolex group, will be effective upon approval of the transaction by competition authorities, said Rolex.
It also noted the acquisition will not change anything about its relationships with the other official retailers in its distribution network.
Jörg Bucherer will remain with the company as honorary president of the Bucherer Group.
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