Watches of Switzerland Group shares rose by 6% yesterday as it announced the acquisition of Deutsch & Deutsch, a four-store family jeweller in Texas.
The retailer expands WoSG’s footprint in Texas to five stores, adding to the 2021 purchase of Timeless Luxury Watches in Plano, which has since been remodelled as a Rolex-anchored Watches of Switzerland showroom.
Deutsch & Deutsch, which generated sales of $67 million in 2024, will retain its name and its owners, Tad and Aladar Deutsch, will remain with the business and continue to play a key role, WoSG says.
Watches of Switzerland now has flags in the map in the Southern Texas cities of El Paso, Laredo, McAllen and Victoria.
Three of the Deutsch & Deutsch stores represent Rolex and the business also offers bridal and fine jewellery, Fope, Roberto Coin, Cartier, Omega, Tudor, TAG Heuer, Breitling and IWC Schaffhausen.
Two stores have recently been refurbished, and there are plans for similar upgrades to the remaining showrooms.
The deal does not include Deutsch Fine Jewelry in Houston, owned by Lance Deutsch, who is descended from the same founder as Deutsch & Deutsch.
Watches of Switzerland Group’s latest acquisition extends its network of US-based Rolex doors to 25. The company is also rolling out Rolex Certified Pre-Owned across its estate.
“We have admired Deutsch & Deutsch for many years and see this value-accretive acquisition as an excellent complement to our existing US showroom network, strengthening our leading position in the luxury watch and jewellery market in the US. We look forward to combining Deutsch & Deutsch’s local expertise with the strengths of the Watches of Switzerland Group as we continue to grow our presence in this key market,” says Brian Duffy, CEO of Watches of Switzerland Group.
