Marriage of two giants — luxury watch brand Rolex buys Bucherer
Switzerland — Rolex, by far the largest and most important Swiss watch brand, acquires Bucherer, by far the largest and most important Swiss Rolex dealer. This is the message Bucherer sent out a few days ago to the brands the Lucerne-based company sells in its own stores. This was announced by the Swiss “Handelszeitung”.
Bucherer patron Jörg Bucherer has no descendants and therefore sought a viable, synergistic solution for his empire. According to Bucherer, the takeover still has to be approved by the relevant competition authorities. This should be a mere formality, as Bucherer and Rolex operate in different markets — retail and watchmaking. The two traditional houses have been working closely together since 1924, and Bucherer sells Swiss luxury watches and offers the official repair service in over 100 specialist stores worldwide.
The company produces about one million watches a year, according to Morgan Stanley estimates, generating sales of more than 10 billion Swiss francs. By comparison, the second and third largest brands in terms of sales, Cartier (watches) and Omega, account for less than 3 billion Swiss francs. No other luxury watch brand produces anywhere near as many watches as Rolex.