Rolex has bought Bucherer, one of the biggest luxury watch retailers in the world.
Bucherer has 15 showrooms in Switzerland stores, over 30 stores in the United States, five in Germany, five in the UK and some of the most prestigious properties in France, Austria and Denmark.
In total, Bucherer has over 100 points of sale worldwide, half of which sell Rolex and 48 have Tudor.
Bucherer will continue to trade under its own name and operate independently, a statement from Rolex shared with WatchPro today says.
“Following the choice made by Jörg Bucherer, in the absence of direct descendants, to sell his company’s business, Rolex has decided to acquire the watch retailer, which was until now an independent entity,” the statement reads.
Bucherer’s management will remain unchanged, but the company will be integrated into the Rolex group operation once competition authorities have approved the takeover.
“This move reflects the Geneva-based brand’s desire to perpetuate the success of Bucherer and preserve the close partnership ties that have linked both companies since 1924.”
Is this another nail in the coffin for the independent watchmaker?