Three generations of Bucherers built one of the most exclusive retailers in the world, selling expensive time pieces and glittering gems to the global rich and famous.
Over more than a century, three generations of Bucherers built one of the most exclusive watch and jewellery retailers in the world, selling expensive time pieces and glittering gems to the global rich and famous.
Joerg Bucherer’s decision to dispose of the closely held family business has taken the industry by surprise.The companies didn’t disclose the terms of their deal and arriving at an estimate isn’t easy since neither Switzerland-based firm publishes financial results. The octogenarian Bucherer’s decision to dispose of the closely held family business took the industry by surprise partly because of the intense secrecy surrounding himself and the two watchmakers, whose histories have been closely entwined for decades. In a statement about the agreement, Rolex said his choice was made “in the absence of direct descendants.”
What’s clear is that the move will put an end to dynastic control over the purveyor of pricey jewellery and watch brands including Rolex, its own Carl F. Bucherer, Chopard and Blancpain. The business traces its roots to 1888 when entrepreneur Carl-Friedrich Bucherer and his wife Luise opened a shop in Lucerne, according to the company’s website.
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