FRIDAY WIND DOWN: Rolex acquires venerated multi-brand retailer Bucherer
Zach BlassAs if Rolex needed anymore speculation surrounding the brand, news broke that the Crown has acquired Bucherer – a multi-brand retailer with over 100 locations around the world, 53 of which distribute Rolex watches. But, before we dig into this big international news I first want to discuss something a closer to home.
NOW Magazine Issue 7 is now available – both print and digital!
It is with great pleasure that we present the latest issue of our NOW Magazine. With issue 7, those familiar with our print magazine can expect the same great content that includes a variety of in-depth stories including an intimate story about the Ingenieur and its Genta heritage, as told by IWC Creative Director Christian Knoop. And, of course, issue 7 hosts our latest buying guide – an elaborate listing of [insert exact number] releases of the past year that details what you need to know about each watch and its price. In an exciting twist, however, issue 7 will be available in both print and digital formats. We hope you enjoy this latest edition of our NOW Magazine.
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Rolex acquires Bucherer
So, of course this news is leading everyone to wonder what will change? Like the debut of Rolex CPO, which also made big headlines, I personally suspect that not much will really change here from a consumer standpoint. Rolex claims Bucherer will still run independently, under its same name and with the same management staff. So, from a consumer experience standpoint it seems it will be business as usual – at least for brands other than Tudor and Rolex. With Rolex taking over Bucherer, it remains to be seen if this will shakeup accessibility at retail and any changes to the “game playing” buyers feel when inquiring about a new Rolex down the line. We will ultimately have to wait and see how all of this develops. What I find interesting, though, is that Rolex now stands to not only profit from the sale of their own watches but other brands as well. And, Bucherer sales data would be a treasure trove for Rolex to get inside information on competitor brands. This is why I am curious to see if the Swiss competition authorities approve the takeover.
You can read the press release from Rolex in full below.
“To preserve the long-standing partnership between the two companies and perpetuate their shared history, Rolex has decided to acquire Bucherer. The watch retailer will keep its name and continue to operate independently. Its integration into the Rolex group will be effective once the competition authorities have approved the takeover transaction.
Geneva, 24 August 2023 – Following the choice made by Jörg Bucherer, in the absence of direct descendants, to sell his company’s business, Rolex has decided to acquire the watch retailer, which was until now an independent entity. This move reflects the Geneva-based brand’s desire to perpetuate the success of Bucherer and preserve the close partnership ties that have linked both companies since 1924.
For more than 90 years, the two businesses have worked alongside one another and have each contributed to the other’s achievements and growth. Today, Rolex stands as one of the leaders of the Swiss luxury watchmaking sector. Bucherer has become an internationally renowned multibrand retailer, with stores located in Switzerland, the United States, England, Germany, France, Denmark and Austria.
Bucherer accounts for more than 100 sales outlets worldwide, of which 53 distribute the Rolex brand and 48 distribute the Tudor brand. The watch retailer is also an official after-sales service centre for both brands. Its watch servicing workshops employ watchmakers who have been trained by the company itself and are highly qualified.
The Rolex group is convinced that this acquisition is the best solution not only for its own brands but also for all the watch and jewellery partner brands, as well as for all the employees of the Bucherer group.
Bucherer will keep its name and continue to independently run its business. The Group’s management team will remain unchanged. Bucherer’s integration into the Rolex group will be effective once the competition authorities have approved the takeover transaction.
The fruitful collaboration between Rolex and the other official retailers in its sales network will remain unchanged.”
Hope you all have a wonderful weekend!
Zach
Watch meme of the week: A reflection on all watch collectors
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Do not kid yourself, we are all guilty of this one. I know, being in NYC, there are too many windows to resist temptation.
Wrist shot of the week: Skipper strap switch-up
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I tend to stick with factory straps, but seeing @dialdaily put his TAG Heuer Carrera Skipper on an orange rubber strap is a prime example of aftermarket done right.
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