2023-08-25 19:00:00
The Swiss watch manufacturer Rolex comes up with a bang: The long-established company based in Geneva takes over the jewelry and watch chain Bucherer and is thus for the first time directly involved in business with end customers. Rolex SA announced this without disclosing the financial details of the transaction. That fits the picture. Rolex is considered the world champion of secrecy. Founded at the beginning of the 20th century by the German Hans Wilsdorf and now owned by a foundation, the company does not even reveal how many watches it sells a year. Analysts estimate that there could be up to 1.2 million units. With an average sales price of 10,000 francs, this would result in annual sales of up to 12 billion francs. This makes Rolex by far the largest premium watch brand in the world.
The company, which employs around 14,000 people, can now further expand this position with the help of Bucherer. Founded in Lucerne in 1888, the specialist retail company operates more than 100 stores, including 15 in Switzerland, more than 30 in the United States and five in Germany. In around half of the branches, Bucherer also sells Rolex watches and timepieces from the cheaper Rolex secondary brand Tudor. Rolex and Bucherer have had a close partnership since 1924. Jörg Bucherer, the previous sole owner of the luxury chain, was personally acquainted with the Wilsdorf family that founded Rolex. The mutual respect was very high.
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