Dubaiuncovered

Luxury watch retailer Bucherer has agreed to a surprising deal with Rolex, in which the well-known brand will sell Bucherer AG to Rolex. This unexpected move has caused a stir in the world of high-end watch retailing. The family-owned company, founded by his grandfather and known for selling expensive timepieces and jewels to the rich and famous for over a century, has generated immense interest and speculation due to the intense secrecy surrounding the deal.

The terms of the deal have not been disclosed, as both companies are famously secretive about their financial standings. Bucherer remains the retailer’s “honorary president” under the agreement, which was made in light of the absence of direct descendants. However, it is uncertain whether the deal has been finalized or what Bucherer plans to do with the proceeds from the sale.

The passing of JArg Bucherer, the third-generation leader of the family business, marks the end of dynastic control over the luxury jewelry and watch brands under the Bucherer umbrella. This decision, although unanticipated, follows the company’s expansion efforts, including the opening of flagship stores in Paris, London, Copenhagen, and the US.

The Bucherer company has deep historical roots, tracing back to 1888 when Carl-Friedrich Bucherer and his wife Luise founded a shop in Lucerne. Under the leadership of their sons, Ernst and Carl Eduard, the company began selling Rolex watches in the 1920s, solidifying an enduring relationship between the two iconic brands.

JArg Bucherer, known for his discretion and aversion to media attention, has steered the company’s growth and expansion without public fanfare. The sale of Bucherer AG to Rolex represents a significant milestone in the history of the company and signals a shift away from dynastic control. While the deal requires regulatory approval and the finalization remains uncertain, the luxury retail market eagerly awaits what’s next for Bucherer and Rolex.