Watches of Switzerland acquires US family-owned retailer
Watches of Switzerland Group has acquired Deutsch & Deutsch, the US family-owned luxury watch and jewellery retailer.
The group has purchased 88% of the business and has an option to buy the remaining share capital.
Subscribe to TRBOperating in Texas since the 1920s, Deutsch & Deutsch is an authorised distributor of Rolex, Roberto Coin, Cartier, Omega, Tudor, Tag Heuer, Breitling and IWC Schaffhausen.
It has four showrooms in El Paso, Laredo, McAllen and Victoria, which Watches of Switzerland said are highly complementary to its existing presence in Texas. Two of the locations have recently been expanded and refurbished.
In the year to 31 December 2024, the showrooms generated a combined annual revenue of $67 million. They will continue to trade under the Deutsch & Deutsch name while Tad and Aladar Deutsch will remain with the business post-acquisition.
The move means Watches of Switzerland Group will operate 25 Rolex anchored showrooms in the US.
Brian Duffy, chief executive of the Watches of Switzerland Group, 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.”
