news

rolex is about to open its first directly-operated store in china, located in taikoo hui, shanghai, and is nominally owned by the watch retailer bucherer group acquired last year. according to known information, an officially authorized rolex second-hand store will be opened on the second floor of this store, which will not only sell new and second-hand rolexes, but also undertake rolex recycling business.

source: rolex

for the chinese market, rolex had no direct-operated stores before, and all stores were dealer franchise stores. now through bucherer, rolex will have a directly-operated store in taikoo hui, shanghai.

acquisition of carl f. bucherer to expand sales network

in august 2023, rolex officially completed the acquisition of bucherer, the world's leading watch dealer, ending a year-long acquisition process and making bucherer its subsidiary.

after the rolex group acquired bucherer, it broke its sales model of more than 100 years, expanded its sales network, and strengthened its market voice.

bucherer stores opened around the world source: watch home

according to reports, bucherer has more than 100 sales points around the world, of which 53 are rolex stores and 48 are tudor watch stores under the rolex group. rolex said that after the acquisition is completed, the bucherer name will be retained and the original stores will continue to operate independently.

this acquisition gives rolex a key step in brand distribution, which will not only help increase profits but also control market share and sales more effectively. from a brand perspective, the alliance between the world's top watch manufacturers and the world's largest watch retailers will also help enhance brand value and lay the foundation for future acquisitions of other brands, including top luxury brands such as patek philippe.

it is expected to close dealer stores and open more brand-operated stores

after acquiring bucherer, rolex quickly launched its personnel layout for bucherer.

nicolas brunschwig, chairman of rolex, will also serve as chairman of bucherer, and jean-frédéric dufour, ceo of rolex, will serve as vice chairman of bucherer. rolex’s chief financial officer and rolex board members have also joined bucherer’s board of directors. however, bucherer’s current ceo guido zumbühl will remain in office.

industry insiders said that this acquisition paves the way for rolex’s strategic layout in the chinese market. in the future, rolex may accelerate the closure of existing dealer stores and open more brand-operated stores under the name of bucherer group.

source: rolex

under the direct operation model, the only brands sold in the store are rolex, tudor and bucherer, and there is a high probability that only bucherer is allowed for tie-in sales. in this way, tudor, which has long relied on rolex for tie-in sales, may face a certain degree of sales decline. , and bucherer, which is paired with rolex, will be a "hot seller" on the counter.

for consumers, the real concern is whether they can buy popular rolex models at fair prices in direct stores in the future.

source: chao news