2023-08-24 18:54:00
Jeweler’s display with Rolex watches
The watch brand secures access to 100 retailers.
(Foto: Bloomberg)
Zurich The watch brand Rolex takes over the traditional Swiss jeweler Bucherer. This is reported by the Bloomberg news agency and the industry magazine “Watchpro”, citing a joint statement from both companies.
The chain of jewelers should act independently and the name Bucherer should be retained. The acquisition price is not known.
Entry into retail is a novelty for Rolex: apart from the parent company in Geneva, the luxury company does not operate any other stores of its own. Instead, Rolex works with a larger number of trading partners who are strictly controlled.
Strict demand management
In recent years, the brand has managed like hardly any other company to fuel the demand for its own products and to reduce the supply through strict control.
The market also reflects this: In order to buy popular Rolex models at list prices, watch fans sometimes had to wait for years. Rolex watches achieved record prices on the secondary market in 2022. Since then, however, prices have fallen significantly.
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But it is also a historic turning point for Bucherer: after 135 years, the jeweler is no longer family-owned.
No successors
“After Jörg Bucherer decided to sell his company’s business due to a lack of direct descendants, Rolex decided to take over the previously independent watch business,” the statement continues.
Bucherer operates around 100 jewelry stores worldwide. The largest market is the USA with 30 branches, while Bucherer operates 15 stores in its home market of Switzerland. The jeweler also has branches in Germany and France. The Bucherer management should remain unchanged. The aim of the takeover is to continue the successful partnership between the two companies that has existed since 1924.
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