August 28, 2023: On Friday, Watches of Switzerland decreases 26% after Rolex-Bucherer agreement.
Rolex said the acquisition for an unknown sum observed the decision of Bucherer proprietor Jorg Bucherer, the grandson of founder Carl Bucherer, to market the business without any direct children to take the reins.
“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,” Rolex stated.
“The Rolex group is convinced that this acquisition is the best solution not only for its brands but also for all the watch and jewelry partner brands, as well as for all the employees of the Bucherer group.”
Swiss retailer Bucherer has more than 100 stores worldwide and has closely partnered with compatriot manufacturer Rolex since 1924. The deal gives Rolex a presence in consumer sales for the first time.
Bucherer will retain its name and brand, and its management team will remain unchanged, Rolex confirmed, with its integration into the Rolex business set to complete once competition regulators approve the takeover.
In a subsequent statement Friday, Watches of Switzerland attempted to soothe apparent market concerns that Bucherer, the world’s largest luxury watch retailer, will seize more market share through its tie-up with the iconic brand.
Watches of Switzerland insisted the acquisition was solely about succession planning for Bucherer and that Rolex breaking with its modus operandi of acting solely as a manufacturer is not making a “strategic move” into the retail market.
In its statement, Watches of Switzerland noted that Jorg Bucherer “has no family succession, and his wishes are to form a legacy foundation with the proceeds of this transaction.”
“This is not a strategic move into retail by Rolex. This is the best-judged reaction to the succession challenges of Bucherer SA,” Watches of Switzerland added.
“There will be no operational involvement by Rolex in the Bucherer business. Rolex will set non-executive Board members. Due to this acquisition, there will be no change in the Rolex processes of product allocation or distribution products.”
Nevertheless, shares of the London-listed group plunged by as much as 29% in early trade before paring losses.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Loud leaders once ruled the boardroom. Charisma was currency. Big talk drove big valuations.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
May 27, 2025: Greek Coastguards Charged Over 2023 Pylos Migrant Shipwreck That Killed Hundreds
May 27, 2025: Volvo to Cut 3,000 Jobs in Europe as Part of $1.9B Restructuring Amid EV Slowdown and Tariff Pressures.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
May 23, 2025: Net migration to the UK has dropped by nearly 50% in 2024, and Indian nationals are at the center of this shift, leading to both the fall in new arrivals and the rise in emigration.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
