Bucherer, the leading European retailer of fine watches and jewellery, announced that it has just acquired Tourneau LLC, the largest U.S. based luxury watch retailer. With 28 points of sale across 10 states and a fully integrated e-commerce website, Bucherer will thus reinforce its presence around the world and benefit from a top-tier partner in America.
Bucherer group has around 1,600 employees. The Bucherer retail chain itself has 16 stores in Switzerland, 10 in Germany, 4 in England and 1 each in Austria, Denmark and France (the Parisian boutique being the largest watch store in the world). Other Group members include KURZ AG Jewelers with 12 branches, the three SWISS LION AG stores and a number of brand-specific boutiques. Earlier in 2017, Bucherer had announced the acquisition of the Watch Gallery (a trailblazer for omnichannel retail for luxury watches) establishing the Group presence in the UK market.
The acquisition of Tourneau LLC by Bucherer sends a strong signal at a time when distribution is at crossroads. Traditional retail is facing new realities, in particular, digitation. The old distribution and retailing model needs to adapt to the changing profile of consumers and behaviours. Consolidation seems inevitable.
To read Bucherer press release: Bucherer Press.