Rolex is to buy Bucherer, the long-established watch retailer with over 100 sales outlets worldwide. Two historic names in the watch industry have now become partners. Iconic Swiss watchmaking brand, Rolex, announced it will acquired Bucherer, one of the world’s largest watch retailers.
In a statement, Rolex said Bucherer will keep its name and continue to operate as an independent company. Bucherer’s management team will remain unchanged. Financial terms were not disclosed.
The move will shake up the luxury watch market, giving Rolex far greater control over its distribution network and better intelligence on its competitors.
Bucherer, based in Lucerne, sells Rolex watches at over half its outlets, together with other luxury brands, including its own brand, Carl F. Bucherer.The decision to sell the family business, founded in 1888, was taken by 87-year-old chairman Jorg G. Bucherer, who has no direct descendants to take it over.
The two companies have worked alongside each other for 90 years, said Rolex, and the purchase will "preserve the long-standing partnership between the two companies and perpetuate their shared history".
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