European watch and jewellery retailer Bucherer announced yesterday (March 21) that it has acquired UK-based watch retailer The Watch Gallery.
With this acquisition, Swiss-based Bucherer has signalled its intention to establish its presence within the UK market, adding several boutiques in prime locations in central London.
Bucherer has also said that it intends to continue to employ all staff of The Watch Gallery and will eventually integrate each boutique under its own brand name.
Chief executive of Bucherer Guido Zumbühl said: “The Watch Gallery provides a very exciting opportunity for the Bucherer Group. This acquisition strengthens our position as the leading European retailer in fine watches and jewellery and expands our brand presence in a very important international capital city.
“We will do everything to give our local and international customers the very best shopping experience. We are delighted that The Watch Gallery’s management will join our team to ensure both continuity and to help us drive the future success of Bucherer within the UK.”
Chairman of The Watch Gallery David Coleridge added: “Bucherer is the perfect partner for us. With the backing of one the world’s leading watch retailers, The Watch Gallery’s customers, business partners and employees will benefit from their tremendous experience, innovation, improved product selection and services.
“Bucherer’s experience in prestige department stores will be particularly beneficial to the growth of our business in Selfridges’ Wonder Room.
“Bucherer are the world’s leading Rolex partner, uniquely competent to our advancement of our Rolex boutiques at One Hyde Park and in Selfridges. I am extremely proud to be joining the Bucherer ‘family’ and look forward to an exciting future with my team.”