Industry News: Bucherer Group to acquire Tourneau
The United States largest retailer to be acquired by the European conglomerate.
In a move that’s sure to send shockwaves through brick and mortar watch retailers, European based Bucherer Group has acquired Tourneau. With 28 stores in 10 states, Bucherer is getting a head start on the American market.
The acquisition is a welcome announcement for watch collectors and industry insiders, as Tourneau’s fortunes have waned in recent years. The retailer has struggled to compete with the influx of vintage resellers and brands offering e-commerce. With the advance of e-commerce, social media, and brand’s increased focus on boutiques, Tourneau has struggled to stay relevant.
I’m looking forward to seeing Bucherer’s Blue Editions available in the US market. As you may know, Watchonista is very partial to the novelties.
TUDOR Heritage Black Bay Bronze Blue Bucherer Edition
Bucherer Blue Editions Baume & Mercier Clifton Club Shelby Cobra
From the executives
(extracted from the press release)
“With over a century of expertise as the preeminent purveyor of fine watches in the U.S., Tourneau provides an exciting opportunity for the Bucherer Group to establish a footprint and extend our offering of fine watches and jewelry to the United States,” said Guido Zumbühl, CEO of the Bucherer Group. “With this acquisition, we will immediately introduce the Bucherer brand to millions of potential customers in one of the most important global watch and jewelry markets. This is also a great opportunity to firmly establish the Carl F. Bucherer brand in the US and introduce Bucherer Fine Jewelry into the North American market.”
Zumbühl continued, “As a retail brand, we stand for the rich tradition of the Swiss quest for perfection, warm hospitality and constantly inspiring customers with fascinating brands and products. We will do everything to continue to provide our local and international customers the very best shopping experience both online and in our stores and are delighted that Tourneau’s management will join our team to ensure both continuity and to help us drive the future success of Bucherer within the U.S.”
Ira Melnitsky, Chief Executive Officer of Tourneau, commented, “Bucherer is a dream partner for Tourneau. A Swiss company with 130 years of history in the industry, Bucherer understands fine watches like few others, making them the ideal partner for Tourneau. As our business continues to perform and grow, this is a natural next step for the Company. With the backing of one the world’s leading watch retailers, Tourneau’s customers, business partners and employees will benefit from Bucherer’s expertise, innovation, unmatched product selection and services. I am extremely proud to be joining the Bucherer ‘family’ and look forward to an exciting future with our team.”
Jörg G. Bucherer, owner and President of Bucherer, said, “I am very delighted to bring my family’s brand to the United States. This strengthens the leadership of our company and brings the Bucherer name to one of the most important markets in the world. We want to inspire our American customers with outstanding choice and an impeccable Swiss service culture providing the very best shopping experience.
Founded in Lucerne in 1888, Bucherer is a leading European retailer of watches and jewelery. The company has been active in watch and jewelry making for for decades. As one of the first retailers of Rolex, the Bucherer Group has established itself as a go-to source for collectors and enthusiasts. Bucherer operates 33 retail stores throughout Europe. The company is led by the third generation Jörg G. Bucherer, and employs over 1,750 people. Today, the Bucherer headquarters is still located in Lucerne. For more information, visit www.bucherer.com
Tourneau was founded in Eastern Europe in 1900 and has been active in the US since 1924. Today, Tourneau has 28 stores in 10 US states, and is easily the largest luxury watch retailer in North America.
Established in 1900, Tourneau is the largest luxury watch retailer in the United States with 28 retail locations across 10 states. Known for its extensive selection of new and Certified Pre-Owned watches and watch repair facilities. For more information, visit www.tourneau.com