Watch News of the Year: Rolex Takes Ownership of Bucherer
It is an earthquake that will change this industry like few others before: the world’s most important watch brand, Rolex, is taking over the world’s most important luxury watch retailer, Bucherer.
As explained in a statement released by Rolex in the USA, “Following Jörg Bucherer’s decision to sell his business in the absence of direct descendants, Rolex has decided to acquire the previously independent watch business.”
From the knowledge acquired thus far, it is confirmed that Bucherer will continue to trade independently under its own name. According to US site WatchPro, Bucherer’s management will also continue to operate unchanged, however the company is to be fully integrated into the Rolex Group as soon as the competition authorities have approved the takeover.
Bucherer’s flagship store in New York, USA
The company’s statement, obtained by Swisswatches, added: “This move reflects the Geneva-based brand’s desire to continue Bucherer’s success and preserve the close partnership ties that have united the two companies since 1924.”
According to the WatchPro website, Bucherer operates 15 showrooms in Swiss shops, over 30 shops in the US, five in Germany, five in the UK, as well as within several prestigious properties in France, Austria and Denmark. Globally, Bucherer now has more than 100 points of sale worldwide, half of which carry the Rolex brand and 48 of which carry its subsidiary brand Tudor.
The impact that this move will have on other brands and retailers remains to be seen. For one thing, Rolex, whose parent company is a foundation, is by no means known for rushing things. Large Rolex dealers such as the German-based family business Wempe, which operates numerous boutiques together with Rolex and has helped support the horology house’s success in the country since 1953, will certainly not want to be neglected as a result of the takeover. Experts are already speculating that Rolex wanted to prevent a large financial investor from taking over Bucherer.
In any case, this step gives the world’s most important watch manufacturer access to valuable customer data of many third-party brands that Bucherer carries. Competitors such as the Richemont Group and the Swatch Group are not likely to like this move at all, and it could lead to these groups turning away from Bucherer and increasingly relying on their own distribution channels. Although this step requires high initial investments, boutiques regularly provide brands with higher margins if they also act as retailers.
In the end – takeover or not – it is the customer who decides where he gets the best service, the best advice and the best watch selection. With its concept of certified pre-owned watches (Bucherer Certified Pre-Owned) – first introduced at Bucherer – Rolex has already proven once that it is willing to invest a lot to give the customer more choice.
Watchmaker Vacheron Constantin is teaming up with a car producer of equally high calibre to create a unique watch destined for the dashboard of a Rolls Royce. The formidable collaboration came about thanks to a client with a passion for luxury cars and fine watches alike. https://www.youtube.com/watch?v=CAqWLoipIUc The unique timepiece, christened Les Cabinotiers Armillary Tourbillon,…
The MCH Group, organiser of Baselworld, has responded to the news that leading brands Rolex, sibling Tudor, Chanel, Patek Philippe and Chopard have left the international trade show. The companies made the move in favour of a new fair that is to take place alongside Watches & Wonders in Geneva. Baselworld's organiser was neither aware…
Due to the ongoing health crisis, Watches & Wonders 2021 is shifting from being an in-person fair to an online event. It will still take place from April 7 to April 13, but will now be a solely online, interactive experience. The decision to move online was taken by the Watches and Wonders Geneva Exhibitor…
A. Lange & Söhne has been a partner of the Concorso d'Eleganza Villa d'Este since 2012 and is once again awarding a special edition to the winner of the competition for classic automobiles this year. From 24 to 26 May, lovers of outstanding classic vehicles will meet in Cernobbio in northern Italy with a view…
Where best to celebrate the beginning of summer than by the sea? For fifteen days in mid-June, Richard Mille will host its very own regatta on both sides of the Channel for the first time. The first edition of the Richard Mille Cup takes place from the 10th to the 25th June and many more…
Swiss Jura-based manufacture Jaeger-LeCoultre is settling into its new Bavarian home as it opens a boutique at Munich's most prestigious address, on the glamorous Maximilianstrasse 24. The world-renowned shopping street in Germany, which comprises one of Munich's four royal avenues, counts the likes of Chanel, Hermès, Omega and Ralph Lauren amongst its affluent residents, while…
On 2 October, what had long been rumoured became a reality: LVMH and Formula 1 have entered into a partnership. As Formula 1 prepares for its 75th anniversary in 2025, this global partnership not only marks the end of one era but also heralds a new beginning. In this billion-euro deal, which binds LVMH to…
Last Saturday, the Only Watch 2021 auction took place. At Christie's in Geneva, 53 unique pieces designed especially for the event were put up for auction. The proceeds will go towards research into Duchenne muscular dystrophy. In the following, we present the TOP 10 highest proceeds of the auction. 10. Zenith x Felipe Pantone Defy…
Fans of Audemars Piguet can now visit the horology house's brand new museum, the Musée Atelier, in Le Brassus. The museum, following its opening in June 2020, offers a chance to uncover the brand's heritage and craftsmanship, with over 300 watches on display. The Musée Atelier's architecture, designed by BIG (Bjarke Ingels Group), is also…
In a few days’ time and under its new motto ‘Bold and Confident’, trade fair Inhorgenta will reopen its doors at Messe München. From the 16 to 19 February, visitors can admire jewellery, precious stones, and timepieces while celebrating the 50th anniversary of the trade fair together with the exhibitors. To mark this special jubilee,…
The organisers of the Watches and Wonders fair present their concept for this year's event. Watches and Wonders 2022 will take place physically, but will also allow for remote participation. For this purpose, a large part of the programme will be available on the W&W platform together with exclusive content for the internet. This year,…
Ressence and Sotheby's have announced the winner of their #WatchesAgainstCovid19 competition. Numerous watch enthusiasts designed their own creative interpretations of Ressence’s Type 1 Slim. The winning watch is a highly colourful piece and its designer is an English father-of-two, Yorkshireman Raymond Ramsden. Throughout the competition, the dial was designed by an array of competitors from around…
This year's ‘Only Watch’ charity-auction has become a double record breaker. Not only that it has in its 8th edition collected almost as much proceeds as in the past 13 years together: Also, the most expensive watch was sold, that ever went on auction. A unique piece from Patek Philippe in steel. Sold for 31…