In an astonishing twist in August, the world’s most prestigious watchmaker acquires a venerable retail establishment.
Here’s an utterly astonishing development that took us all by surprise on an otherwise uneventful Thursday in August (typically the quietest month in the watch industry). The news has just broken that Rolex is set to acquire the renowned retailer Bucherer. Yes, you read that correctly. After an authorized retailer relationship spanning nearly a century between these two esteemed brands, Rolex is poised to become the owner of Bucherer.
Naturally, a story of this magnitude raises a plethora of questions, and we will keep you updated as we gather more information. However, there are a few key points we can share based on the announcement made by Rolex earlier today.
As many are aware, Rolex is the owner of the Tudor brand, which operates independently with its own CEO and manufacturing facility in Le Locle. It remains to be seen how the organizational dynamics between Rolex and Bucherer will evolve under this new ownership arrangement with the global retailer.
According to the press release, Bucherer boasts a presence in over 100 locations worldwide. Among these, 53 locations are Rolex retailers, and 48 offer Tudor timepieces. Additionally, Bucherer holds the esteemed role of being an official after-sales service center for both of these renowned brands.
It’s important to mention that Bucherer acquired Tourneau in 2018.
This development is of significant importance in our industry, and we will be closely following its evolution. Stay tuned to Hodinkee for further updates as they become available.