In a significant development for the luxury timepiece industry, Rolex made a formal announcement on Thursday confirming its acquisition of Bucherer, one of the world’s largest watch retailers boasting an extensive network of over 100 stores. While the financial details of the transaction were not disclosed, Rolex expressed its commitment to finalizing the deal once regulatory authorities provide their approval.
The acquisition represents a pivotal moment for both companies, as Rolex moves forward to purchase the Bucherer business from its 87-year-old Chairman, Jorg Bucherer. The decision to sell is attributed to Jorg Bucherer’s absence of direct descendants, emphasizing his desire to entrust the legacy of Bucherer to a trusted partner.
This move underscores Rolex’s dedication to perpetuating the remarkable success of Bucherer and preserving the close and enduring partnership ties that have linked the two companies for nearly a century. Indeed, Bucherer’s stores have proudly served as authorized Rolex dealers since as far back as 1924.
Despite this acquisition, Bucherer will retain its distinctive identity and continue to operate independently. The integration of Bucherer into the Rolex group will be implemented upon receiving the necessary approvals from competition authorities. This strategic acquisition promises to further solidify the Swiss watchmaking giant’s position in the industry while preserving the rich heritage and reputation of both Rolex and Bucherer.