Rolex acquires the watch retailer Bucherer
25 August 2023 11:12
In the absence of direct descendants, Jörg Bucherer has decided to sell Bucherer, his Lucerne-based family company, to Rolex. The two companies are bound by a long-standing partnership, with Bucherer having been the official retailer of the Rolex manufacture since 1924. The two partners have contributed to each other’s success and growth, according to a press release issued by Rolex: “This move reflects the Geneva-based brand’s desire to perpetuate the success of Bucherer and preserve the close partnership ties”.
The watch and jewelry retailer will, according to the information in the press release, retain its name and continue to operate on an independent basis, while the management team will remain unchanged as well. “Jörg Bucherer is the last person still in activity to have known and worked with Hans Wilsdorf, the founder of Rolex. He will remain as honorary president of the Bucherer group”, Rolex writes. Moreover, no changes will be made to the sales network either. The integration of Bucherer in the Rolex Group will become effective upon approval from the competition authorities.
Jörg G. Bucherer is the third generation of his family to head up the company as Chairman of the Board of Directors. The company sells luxury watches and jewelry at 36 select locations in Europe. In 2013, Bucherer opened the world’s largest watch and jewelry store in Paris. The company operates 32 stores in the US market under the Tourneau brand. The sales outlets of Swiss Lion AG and various brand boutiques also form part of the Bucherer Group. ce/mm