In breaking news, Rolex has acquired major luxury watch retailer, Bucherer overnight in a bold move that’s sure to set the industry alight and talking!
The long standing partnership between Rolex and leader luxury watch and jewellery retailer, Bucherer is set to be cemented with news breaking overnight the biggest watch brand is set to buy out Bucherer and it’s associated entities. Bucherer and Rolex have had an association since 1924, and this almost 100 year relationship will continue with Bucherer being brought into the Rolex fold.
Jorg Bucherer made the decision to sell the business in light of having no direct decedents to pass the company onto. And in a statement from Rolex, says that “this will preserve the close partnership ties that have linked both companies since 1924″. It’s an interesting move to say the least, given that Bucherer was one of the first retailers to put in place Rolex’s Certified Pre Owned program in Europe and now the U.S.
Bucherer has over 100 sales outlets worldwide, of which 53 distribute Rolex and 49 distribute Tudor. It is also an official after sales service centre for both brands and employs watchmakers who have been trained by the company (Rolex) itself and are highly qualified.
Also in a statement from Rolex:
“this acquisition is the best solution not only for its own brands but also for all the watch and jewellery partner brands, as well as for all the employees of the Bucherer group. Bucherer will keep it’s name, and continue to independently run its business. The group’s management team will remain unchanged.”
So it seems that Rolex don’t have major plans at this point in time for the company other than taking it over and letting it run as it has been. But this won’t stop the speculation that comes from this announcement, and already this morning, the watch world and online forums have already been talking about this move and what it could mean.
Whilst this would have little impact in Australia, it could pave the way for other multi-brand ADs that are official Rolex dealers to potentially sell, or be bought out in other markets, however, at this point in time, we will wait and see!
What are your thoughts on this move by Rolex? Leave your thoughts in the comments below.
