Bucherer USA, the American subsidiary of the Swiss retail group that bought Tourneau earlier this year, has acquired Baron & Leeds, a premier luxury retailer of fine watches and jewellery in California and Hawaii.
Terms of the transaction were not disclosed.
Baron & Leeds operates Rolex branded boutiques and two multi-brand stores. It is also a Patek Philippe partner.
Ira Melnitsky, chief executive officer of Tourneau, says: “The acquisition of one of the country’s leading retailers of fine watches and jewellery represents an important step forward in the continued growth of Tourneau. We are proud to be able to expand our customer relationships in both California and Hawaii. Baron & Leeds has always shared our passion for exceptional products and unparalleled customer service and we are excited to welcome all of their employees to our team.”
Guido Zumbühl, CEO of the Bucherer Group, adds: “We take great pride in partnering with companies who complement and align with our quest for perfection, warm hospitality and constantly aspire to delight customers with fascinating brands and products. Baron & Leeds meets all of these criteria and we are excited to welcome them to the Bucherer family.”
European giants Bucherer and The Watches of Switzerland Group (formerly Aurum Holdings) are in a neck and neck race to build a network of luxury showrooms across the United States.
Bucherer’s initial acquisition of Tourneau was for a chain of 24 boutiques, so the Baron & Leeds purchase takes the number to 28.
Watches of Switzerland has owned Mayors, with 19 boutiques in Florida and Georgia, since summer of last year. It has since taken over three doors in Las Vegas and is building a further three in New York.