“In order to preserve the long-standing partnership between the two companies and to continue in the vein of their historic alliance, Rolex has decided to take over Bucherer.” With these words, on August 24, the Swiss Maison announced to the world, completely by surprise, this incredible corporate transaction that sees Rolex acquiring Bucherer, a historic jewelry store and celebrated luxury watch retailer.

Bucherer is a Swiss family company founded in Lucerne by Carl-Friedrich Bucherer in 1888 and linked to Rolex since 1924, when the jewelry company became an official retailer of the Swiss house. Suffice it to say that Jörg Bucherer is the last person still in business to have known and worked with Hans Wilsdorf, the founder of Rolex. To date, Bucherer has more than 100 outlets worldwide, located in Switzerland, the United States, England, Germany, France, Denmark, and Austria, 53 of them Rolex dealers and 48 Tudor dealers (both brands, let us remember, owned by the Hans Wilsdorf Foundation). Bucherer is also an official after-sales service center for both brands, Rolex and Tudor.

Despite the transfer of ownership, Bucherer will continue to maintain its corporate name and operational independence. Jörg Bucherer, who is now 86 years old and has no heirs, will remain honorary chairman of the group. The transaction will take effect only once the relevant authorities have issued the necessary approvals. Unfortunately, the economic details of the acquisition are not yet known.

Rolex buys Bucherer: What will happen in the watch industry?

Beyond the astonishment of this sensational announcement, what are the consequences for the watchmaking world of such an operation?

Let us first recall that Rolex is not listed on the stock exchange but is controlled by the Hans Wilsdorf Foundation (named after its founder), unlike other brands owned by large publicly traded groups.

In the corporate market, it is not uncommon to witness operations by companies to purchase the retail outlets of goods produced by them (recall, in 2021, the acquisition of GrandVision by EssilorLuxottica). These operations allow the “parent” company (in this case Rolex) to gain greater and direct control over the entire supply chain, from production to retail distribution, with undoubted advantages. After all, this is not the first time that Rolex has shown interest in expanding its reach into retail as well. Recall that in December the Geneva-based Maison launched its new Rolex Certified Pre-Owned program, directed at allowing the purchase of used watches from the crowned house from official dealers.

However, the acquisition of Bucherer by Rolex has sparked rumors and speculation, especially from those who fear, given the already limited availability of Rolex watches, a concentration of distribution in Bucherer stores, to the detriment of others.

Watches of Switzerland, Rolex’s official UK reseller, has suffered a drop in its stock price on the London Stock Exchange and had to hasten to reassure the market in this regard, specifying in a note that this transaction will not result in any change in the allocation and distribution of retail watches by the parent company among the various dealers but is simply a move to bridge the succession issues of Bucherer, whose business, in the absence of direct heirs of Jörg Bucherer, needs to be divested.

One last thing to note is this: in addition to Rolex, Bucherer also retails more than 35 watch brands. With this acquisition, given the more than 100 outlets worldwide, Rolex gains willy-nilly a relevant influence on the sale of other watch brands as well.

Only time will tell how and to what extent this sensational news will change the watch market, which, again and again, continues to amaze and excite us as with this latest late summer twist.

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