Bucherer: A Swiss Luxury Brand Ahead Of Its Time
Date
8/29/2023 2:20:36 PM
(MENAFN- Swissinfo) On August 25, Rolex announced its decision to acquire Bucherer – a shrewd move given that Bucherer's 87-year-old chairman Jörg G. Bucherer, a third-generation scion of the family, did not have any direct descendants and was looking to sell the business. The Lucerne-based firm has more than 100 sales outlets worldwide, over half of which distribute Rolex watches. Bucherer also sells luxury watches manufactured by Rolex's competitors, as well as timepieces under its own brand Carl F. Bucherer. Thus, by acquiring Bucherer, Rolex is able gain control of its distribution network, access Bucherer's VIP clients and obtain information on its competitors' sales. When contacted, Bucherer did not wish to comment on the takeover.
SWI swissinfo.ch decided to dive into what makes Bucherer such a unique company.
Sniffing an opportunityBucherer's origins go as far back as 1888 when Carl Friedrich Bucherer and his wife Luise opened a watch and jewellery shop in Lucerne. They wanted to seize the opportunity offered by an influx of wealthy tourists who came from all over Europe to admire the Alps and take in the fresh mountain air. The gamble paid off and they were able to open their second boutique only a few years later.
External Content International expansionTo grow the business Carl Friedrich Bucherer got his two sons trained in the main trades: Ernst Bucherer learned the watchmaking business while Carl Eduard Bucherer trained in goldsmithing. In 1913, the two brothers joined the family business and quickly set out to open stores outside Switzerland starting with Berlin followed by Santiago in Chile. One of the drivers behind this international expansion was Carl Eduard's wife Wilhelmina Bucherer-Heeb.
“Her smart business sense and entrepreneurial advice help to pave the way for developing the firm into a cosmopolitan brand,” says the company's website.
She tragically died in a shipwreck when travelling from Argentina to Chile. The company paid homage to her memory by releasing a special edition watch in her name in 2005 limited to 70 pieces. Wilhelmina's death put a spoke in international expansion plans and her husband and his brother returned to Lucerne and focused on growing in Switzerland. Bucherer would only venture abroad again in the 1980s when current chairman Jörg G. Bucherer expanded into Austria.
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