Watches of Switzerland has completed a US acquisition that will see it run four new showrooms in the country
The luxury retailer has bought Deutsch & Deutsch, a distributor of Rolex, Roberto Coin and Cartier, among other luxury brands.
The family-owned business has been operating as an authorised distributor of the brands across four showrooms in Texas, El Paso, Laredo, McAllen and Victoria.
Watches acquired 88% of the Deutsch & Deutsch, with an option to buy the remaining share capital. It will continue to run the showrooms under the original branding, with founders Tad and Aladar Deutsch remaining with the business.
The acquisition means the luxury retailer now operates 25 Rolex-anchored showrooms in the US.
Watches of Switzerland chief executive Brian Duffy said: “We have admired Deutsch & Deutsch for many years and see this value-accretive acquisition as an excellent complement to our existing US showroom network, strengthening our leading position in the luxury watch and jewellery market in the US. We look forward to combining Deutsch & Deutsch’s local expertise with the strengths of the Watches of Switzerland Group as we continue to grow our presence in this key market.”
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