Watches of Switzerland Acquires Deutsch & Deutsch

Watches of Switzerland has signed an agreement to buy a stake in luxury watch and jewelry retailer Deutsch & Deutsch.

The purchase comprises 88% of the company, with an option to buy the remaining share, Watches of Switzerland said last week.

Deutsch & Deutsch, a family-owned business, has been running four showrooms in Texas, and is an official distributor of Rolex, Roberto Coin, Cartier, Omega, Tudor, TAG Heuer, Breitling and IWC Schaffhausen. The group will continue to operate under the Deutsch & Deutsch brand, while Tad and Aladar Deutsch maintain a central leadership role across the showrooms.

“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 jewelry market in the US,” said Watches of Switzerland CEO Brian Duffy. “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.”

As a result of the acquisition, Watches of Switzerland will operate a network of 25 Rolex-anchored showrooms in the US.

Image: A Deutsch & Deutsch store in El-Paso, Texas. (Deutsch & Deutsch)