Shares of watches of Switzerland decline following Rolex's Bucherer Acquisition

Shares of Watches of Switzerland experienced a 30% decline on Friday, marking its largest single-day drop on record. The decrease followed Rolex's acquisition of retailer Bucherer, prompting concerns about the future outlook for the watch company. Watches of Switzerland, renowned for selling Rolex, Audemars Piguet, and Cartier watches, assured in a statement that Rolex's purchase would not lead to any alterations in product allocation or distribution processes.

On Thursday, Rolex made an announcement regarding its acquisition of the luxury watch retailer Bucherer. The exact amount of the transaction remains undisclosed. It was noted that Bucherer will maintain its independent operations despite the acquisition.
The company has a global presence with over 100 sales outlets across the world.. Among these, 53 outlets are dedicated to the distribution of Rolex, while 48 outlets distribute the Tudor brand.