Watches of Switzerland has bought US jeweller Roberto Coin for $130m (£104m) as it targets growth in the luxury branded jewellery category.

Roberto Coin website

Watches of Switzerland has bought US jeweller Roberto Coin

Roberto Coin is the sixth-largest jewellery brand in the US by sales at retail value and has approximately 400 points of sale in department stores, jewellery retailers and independent jewellers.

Watches of Switzerland said luxury branded jewellery is a “core pillar” of its growth strategy. It said branded jewellery accounted for 27% of the jewellery market in 2024, up from 17% in 2019.

Roberto Coin generated revenue of $146.2m (£117m) in 2022 when pre-tax profit came in at $30.1m (£24.1m).

The deal is expected to enhance margin and earnings per share immediately.

Watches of Switzerland sees growth opportunities in wholesale and direct-to-consumer through Roberto Coin, with which it already had a longstanding relationship – the brand was already on sale in 16 Watches of Switzerland showrooms in the US.

Roberto Coin will operate as an “independent, standalone company” within Watches of Switzerland. 

The Coin family will retain a seat on the board of Roberto Coin and co-founder Peter Webster will stay on as president.

Watches of Switzerland chief executive Brian Duffy said: “We have partnered with Roberto Coin for over a decade in the US. It is a hugely popular, growing brand occupying a strong position in the market, underpinned by product quality, design creativity and imagination.

“We believe there is significant opportunity to leverage our proven retail expertise in luxury branded jewellery. The luxury branded jewellery category has consistently outperformed the wider jewellery sector, and we see further strategic and operational opportunities for the business within the broader group.

“Today’s strategically and financially attractive acquisition is indicative of our ambition and the momentum we are building in this exciting category.

“It will allow us to take one of the fastest-growing jewellery brands in the US and use our retail and operational expertise to accelerate growth and further elevate the Roberto Coin proposition in North and Central America.”