Bucherer USA has bought Leeds & Son, a prestigious watch and jewelry retailer anchored by Rolex and Patek Philippe in Palm Desert, California.
It expands the network of stores owned by Bucherer since the Swiss jeweler acquired Tourneau and Baron & Leeds in 2018.
All Tourneau showrooms are being converted to Bucherer, a process that began most notably with the reopening of Time Machine in Manhattan.
Leeds & Son was founded in 1947, and is now run by brother and sister team Terry Weiner and Riki Stein.
It sits among the designer boutiques of El Paseo in Palm Desert near Palm Springs in California’s Coachella Valley.
Ira Melnitsky, CEO of Tourneau and president of Bucherer USA, says: “We’re excited to welcome the Leeds & Son team to the Bucherer family and expand our customer relationships in California. The Leeds & Son team has worked tremendously hard to foster a loyal community and we are looking forward to building on that success.”
Watches and Switzerland and Bucherer, both European giants, have been on an acquisition spree in recent years, with a focus on buying businesses with Rolex and/or Patek Philippe as anchor brands.
Typical operating practice is that both watchmaking brands clear these purchases as their authorised dealer agreements can be withdrawn with a change of ownership.
In 2018, Bucherer bought Tourneau and Baron & Leeds, which has stores in Costa Mesa and Hawaii.
In 2021, Watches of Switzerland acquired Betteridge in Greenwich, Connecticut, Timeless Luxury in Plano, Texas, and one of Ben Bridge’s boutiques in Mall of America outside Minneapolis.
