SJX Watches
Breaking News: Rolex Acquires Watch Retailer Bucherer
In a surprising move, Rolex has just announced the takeover of Bucherer, the Swiss watch retailer that is the largest seller of Rolex watches worldwide. Long the odd one out amongst luxury watch brands for not having its own retail network – hitherto Rolex owned just one store in Geneva – Rolex now owns the world’s biggest watch retailer outside of China and Hong Kong. Though headquartered in the quaint mountain town of Lucerne, Bucherer is a global giant with 100 points of sale in Europe and the United States, with Rolex and Tudor represented in half of them. A Rolex retailer since 1924, Bucherer boasts annual sales of almost CHF2 billion, with almost two-thirds of that from the sales of Rolex and Tudor watches. As a result, Bucherer is the largest retail partner for Rolex, accounting for almost 10% of Rolex’s estimated CHF10 billion in turnover. It was no coincidence that Bucherer was the first retailer in the world to embark on the Rolex Certified Pre-Owned programme. Bucherer will remain as an independent business after the takeover, which has to be approved by competition authorities. The terms of the sale were undisclosed. A logical surprise Although the news of the takeover was unexpected, it is a logical progression of events. Established in 1888, Bucherer has been in the hands of its founding family since then, with the company currently led by Jorg G. Bucherer, grandson of founder Carl F. Bucherer. Now almost 90 years old, Mr Bucherer is an industry legen...
