Story Highlight
– Watches of Switzerland shares rose 6% after acquisition.
– Acquired Deutsch & Deutsch expands Texas retail footprint.
– Deutsch & Deutsch generated $67 million in 2024 sales.
– Acquisition adds three Rolex stores to WoSG network.
– WoSG plans upgrades for remaining Deutsch & Deutsch showrooms.
Full Story
Shares of Watches of Switzerland Group (WoSG) experienced a 6% increase following the announcement of its acquisition of Deutsch & Deutsch, a family-owned jeweller operating four stores in Texas.
This acquisition enhances WoSG’s presence in Texas, bringing its total to five locations. This follows the 2021 acquisition of Timeless Luxury Watches in Plano, which has been converted into a showroom anchored by Rolex.
In the financial year 2024, Deutsch & Deutsch reported sales of $67 million. The company will continue to operate under its established name, with owners Tad and Aladar Deutsch remaining actively involved in the business.
WoSG’s portfolio now includes locations in El Paso, Laredo, McAllen, and Victoria in southern Texas.
Three stores within the Deutsch & Deutsch chain feature Rolex as a key brand, alongside offerings of bridal and fine jewellery, with other luxury brands including Fope, Roberto Coin, Cartier, Omega, Tudor, TAG Heuer, Breitling, and IWC Schaffhausen.
Recent refurbishments have been completed in two stores, and plans are in place to update the remaining showrooms to enhance their appeal.
However, it is worth noting that the deal does not encompass Deutsch Fine Jewelry in Houston, which is separately owned by Lance Deutsch, a descendant of the original founder of Deutsch & Deutsch.
With this latest acquisition, Watches of Switzerland Group expands its total number of Rolex outlets in the US to 25. Additionally, the company is introducing Rolex Certified Pre-Owned services across its locations.
Brian Duffy, CEO of Watches of Switzerland Group, expressed enthusiasm about the acquisition, saying, “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.”
