Industry News: Rolex Acquires Bucherer

Rolex made an announcement today about its acquisition of Bucherer, a prominent global luxury watch retailer known to be associated with the brand since 1924. As per the official statement, the Swiss jewelry company, based in Lucerne, will retain its independence and name. However, the full integration into the Rolex group is subject to approval from competition authorities.

Jörg G. Bucherer has been in charge of the family-owned business for the past four decades. During his tenure, the company has grown and expanded into Austria, Germany, and other European countries. In 2018, Bucherer acquired Tourneau, a renowned luxury retailer with 28 stores in the United States, effectively establishing a successful presence in the American market. Currently, Bucherer operates over 100 retail stores worldwide, with a significant number already offering the sought-after Rolex and Tudor collections.

As per the statement, Rolex's decision to unite is a response to Jörg Bucherer's decision to offload his company's operations due to the lack of direct heirs.

After Jörg Bucherer made the choice to sell his company due to not having any children to pass it on to, Rolex has made the decision to purchase the watch retailer that was once independent. By acquiring this business, the luxury watch brand based in Geneva plans to carry on the tradition of success established by Bucherer and maintain the strong relationship that has been in place between the two companies since 1924. The official statement from Rolex states, "For over 90 years, the two businesses have been working together as partners, mutually contributing to each other's achievements and expansion."

The blog asserts that the Rolex Group firmly believes that this purchase is the optimal resolution for its own labels and for the overall collection of timepieces and accessories from other collaborating brands. Additionally, it is deemed beneficial for the members of the Bucherer Group's workforce.

The conclusion of 135 years of familial possession signifies the conclusion of a significant period. The foundation of the family enterprise was established as far back as 1888, when the trader and visionary Carl-Friedrich Bucherer and his spouse Luise inaugurated the initial store for watches and jewelry in Lucerne, Switzerland. As per Rolex, Jörg Bucherer is the final entrepreneur to have directly acquainted and collaborated with the founder of Rolex, Hans Wilsdorf. He continues to hold the esteemed position of honorary president within the Bucherer Group.

For further information, you can check out Rolex's website here and Bucherer's website here.