Rolex SA, Swiss watchmaking giant, to buy luxury retailer Bucherer

In this deal, Rolex, largest Swiss watch brand, will secure notable foothold in consumer market — a new avenue for the company.

Web Desk

August 24, 2023

Watches of Swiss watch designer and manufacturer Rolex are displayed on the opening day of the Watches and Wonders Geneva show, in Geneva on March 30, 2022.—AFP/File

Rolex SA is all set to acquire luxury retailer Bucherer, a significant move that marks the prominent Swiss watchmaker's entry into consumer sales, Bloomberg reported Thursday.

In this deal, Rolex, renowned as the largest Swiss watch brand, will secure a notable foothold in the consumer market, a new avenue for the company.

Bucherer, a Swiss entity boasting a global presence with over 100 stores, will maintain its operational autonomy and brand identity according to a statement released by Rolex.

The financial details of the transaction have not been disclosed.

This acquisition holds the key to Rolex's foray into extensive watch sales within its own retail outlets, a departure from its existing model.

At present, Rolex solely owns and manages a solitary store, situated in its birthplace of Geneva.

Having amassed an annual revenue exceeding 9 billion Swiss francs (equivalent to $10.2 billion), Rolex stands as the preeminent Swiss watch brand, crafting in excess of 1 million timepieces each year.