Rolex is set to acquire Bucherer, the well-established watch retailer boasting a presence in over 100 sales outlets across the world, IDEX Online reports. Rolex did not disclose specific financial terms of the transaction.
Bucherer, headquartered in Lucerne, retails Rolex timepieces in more than half of its locations, in addition to an array of other prestigious brands, including its proprietary label, Carl F. Bucherer.
The decision to divest the family-run business, which was established in 1888, was made by 87-year-old Chairman Jorg G. Bucherer, as there were no direct heirs to succeed him.
Rolex has promised that Bucherer will retain its name and operate autonomously following the completion of the acquisition, pending approval. Having jointly operated for nine decades, Rolex stated that this acquisition will “perpetuate their shared history and uphold the enduring partnership between the two companies.”
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