Tourneau acquired by Swiss watch giant Bucherer
Swiss watch and jewelry retailer Bucherer has acquired Tourneau, the largest luxury watch retailer in the US. Bucherer will use the acquisition to introduce its brand to the US consumer.
Guido Zumbühl, CEO of the Bucherer Group said, “With this acquisition, we will immediately introduce the Bucherer brand to millions of potential customers in one of the most important global watch and jewelry markets."
Zumbühl stated that the acquisition "is also a great opportunity to firmly establish the Carl F. Bucherer brand in the US and introduce Bucherer Fine Jewellery into the North American market.”
Tourneau was founded in New York in 1900. It operates 28 retail store locations in 10 states as well as a fully integrated e-commerce site.
Ira Melnitsky, Chief Executive Officer of Tourneau, commented that Bucherer is an ideal partner as it brings 130 years of Swiss heritage in the industry.
Melnitsky said, "As our business continues to perform and grow, this is a natural next step for the Company."
Jörg G. Bucherer, owner and President of Bucherer, called the US one of the most important global markets for the company. He said the company's goals are "to inspire our American customers with outstanding choice and an impeccable Swiss service culture providing the very best shopping experience.”
Bucherer acquired Tourneau from an equity group which was led by Green Equity Investors IV, LP, an affiliate of Leonard Green & Partners, LP. Financial terms of the acquisition were not immediately disclosed.
Copyright © 2022 FashionNetwork.com All rights reserved.