Acquisition in the Watch Industry
Rolex is allowed to buy Bucherer
The Geneva-based luxury watchmaker Rolex can definitely acquire the Lucerne-based watch and jewelry retailer Bucherer.
Rolex has received the green light to acquire the traditional watch and jewelry retailer Bucherer. After the EU competition authorities had already approved the deal, the Swiss Competition Commission (Weko) has now also confirmed the acquisition without conditions. Thus, the regulatory hurdles for the purchase have been cleared, and the sale can be finalized.
The sale of Bucherer became necessary because the longtime patron Jörg Bucherer found no successor and the company was put up for sale. Rolex decided to buy to prevent a sale to a third party and to secure the existing close cooperation. Bucherer plays an important role in the distribution and service of Rolex watches.
The acquisition marks a significant change in Rolex's business strategy. Until now, the company had strictly separated various business areas: design at the Geneva headquarters, production at a subsidiary in Biel, and sales through third-party companies. These principles were already loosened a few years ago with the integration of the watch movements. With the now completed acquisition of Bucherer, everything at Rolex will now come from a single source.
The Bucherer group includes, in addition to watch and jewelry stores, its own watch brand, 'Carl F. Bucherer.' Jörg Bucherer passed away last November, before the sale could be finalized.
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