Step inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
Tourneau Acquired by European Watch Retailer
Bucherer, a Swiss company, bought Tourneau from the investor group that’s owned it since 2006.
New York--Swiss watch and jewelry retailer Bucherer has purchased Tourneau for an undisclosed sum, the companies announced this week.
Bucherer is buying Tourneau from Green Equity Investors IV LP, an investor group that is an affiliate of private equity firm Leonard Green & Partners and includes members of the Wexler family. Bucherer confirmed to National Jeweler via email that the purchase marks the exit of the Wexler family from the business.
Based in Lucerne, Switzerland, Bucherer is a retailer—the company has 33 watch and jewelry stores across Europe—and is the manufacturer of Carl F. Bucherer watches.
The purchase of 28-store chain Tourneau will effectively double its retail footprint, and also give it a presence in the United States.
In a news release issued Wednesday announcing the transaction, Bucherer CEO Guido Zumbühl said buying Tourneau gives the company an “exciting opportunity” to enter the U.S. market, “firmly establish” the Carl F. Bucherer brand here and introduce its jewelry line, Bucherer Fine Jewellery, to the market as well.
Tourneau already sells some Carl F. Bucherer watches but will expand its selection with the acquisition.
Bucherer said that Tourneau’s management team will remain in place and that it “looks forward to welcoming Tourneau’s employees into the Bucherer family in the coming months.” The company has a total of 600 workers.
As for changing the name of the Tourneau stores to Bucherer, which a Bucherer executive said was a “possibility” in an interview with JCKOnline.com, Bucherer said Thursday: “We will review the best way forward together with Tourneau’s management in the coming months.”
Tourneau has a total of 28 stores in 10 states, landing it at No. 28 on National Jeweler’s Top 50 Specialty Jewelers in North Americalist in the 2017 State of the Majors report.
Though the company will not comment publicly on sales figures, researcher Edahn Golan had Tourneau’s 2016 sales at $442 million in the $100 Million Supersellers list.
Tourneau traces its history back to 1900 when the Wexler family opened their first jewelry store in Eastern Europe.
Between 1924 and 1925, M. Wexler Watchmakers & Jewelers opened in Manhattan, and the Tourneau family emigrated from Paris to New York and opened a watch counter in the Berkshire Palace Hotel.
Tourneau
Bucherer dates back to 1888, when Carl-Friedrich Bucherer and wife Luise opened a jewelry store on Lake Lucerne in Switzerland. Today, the company is helmed by third-generation owner Jörg G. Bucherer, who is also president, and Zumbühl.
Bucherer is the second European company to make a purchase in the U.S. market in recent months.
U.K.-based Aurum Holdings Ltd. acquired Mayors jewelry stores from Birks Group in October.
The Latest
These punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
The company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
Sponsored by Tasha R
Three Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
Cynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
The auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
The four finalists will present their pieces at the 2025 JCK Las Vegas show.
The “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
The money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
The event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
Local reports identified the woman as the wife of the jewelry store owner.
A collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
The Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
Hampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
The group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
The collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
This year’s theme asks designers to take inspiration from classic fairy tales.
Senior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
The latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
No. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
Sotheby’s sold the necklace, which potentially has ties to Marie-Antoinette, for $4.8 million to a woman bidding via phone.