Expanding Horizons: Watches of Switzerland's Strategic US Market Growth
Watches of Switzerland's Latest Acquisition: Deutsch & Deutsch Jewelers
In a significant corporate development, the Watches of Switzerland Group has successfully completed the acquisition of Deutsch & Deutsch Jewelers, a prominent retail chain boasting four locations across Texas. This strategic takeover marks another step in the luxury retailer's ongoing expansion efforts within the United States.
Continuity and Leadership Transition in the Acquired Entity
Following the acquisition, the newly integrated Deutsch & Deutsch showrooms, situated in El Paso, Laredo, McAllen, and Victoria, are slated to retain their original branding. Furthermore, key leadership figures, Tad and Aladar Deutsch, will continue their involvement, guiding the operations of these stores post-merger, ensuring a smooth transition and consistent management.
Financial Details and Market Impact of the Deal
The agreement grants Watches of Switzerland a controlling 88% stake in Deutsch & Deutsch's share capital, with provisions for acquiring the remaining shares in the future. Financial disclosures indicate that the four Deutsch & Deutsch locations collectively generated an impressive annual revenue of $67 million in the year 2025, highlighting the significant value this acquisition brings to the Watches of Switzerland Group.
Deutsch & Deutsch's Prestigious Brand Portfolio and Historical Roots
Deutsch & Deutsch Jewelers is renowned for its authorized distribution of an array of luxury watch and jewelry brands, including Rolex, Roberto Coin, Cartier, Omega, Tudor, TAG Heuer, Breitling, and IWC Schaffhausen. The company's rich history dates back to the 1920s, originating as a modest tourist shop in Mexico before evolving into a distinguished luxury retailer.
Reinforcing Watches of Switzerland's North American Presence
With the integration of Deutsch & Deutsch, the Watches of Switzerland Group's portfolio of Rolex-anchored showrooms in the United States will expand to 25. This expansion not only broadens its geographical reach but also strengthens its market dominance in the luxury watch segment.
Leadership Changes in Watches of Switzerland's North American Division
Concurrent with the acquisition news, there have been significant leadership changes within Watches of Switzerland's North American division. Jack Gaffaney, previously a senior vice president at Prada for the Americas, has been appointed as the new president for North America. He succeeds David Hurley, who, after serving as president of the North American division and deputy CEO since 2022, will continue in his role as deputy CEO for the compan