Amidst the plethora of watchmaking company slogans that bombard us year after year, Carl F. Bucherer’s understated motto, ‘Made of Lucerne,’ stands out as a true gem. It epitomises a watch brand deeply entrenched in the heritage of its hometown — a labyrinthine tapestry of medieval architecture, charming town squares, all framed by the backdrop of snow-capped peaks and the pristine lake that shares its name. Despite these enduring symbols of Swiss culture and history, perhaps the most captivating aspect of this city is its remarkably modern sensibilities, a notion that surely must have crossed the minds of two friends as they strolled past ancient churches and frescoes that still grace Lucerne today.  

In the early 1920s, the sons of Carl-Friedrich and Luise Bucherer, Ernst and Carl Eduard Bucherer, joined the family business. With their wealth of experience, they steered the company to even greater heights. Ernst Bucherer, in particular, entered into a highly fruitful partnership with Rolex founder, Hans Wilsdorf, in 1924, adding the fledgling watch brand to the Bucherer portfolio.  

It’s almost poetic that nearly a century since that momentous handshake, history has taken an unexpected turn. Rolex has now assimilated the very identity of the company that once played a pivotal role in its rise during the mid-1920s. The outcome is a fascinating blend of excitement and sentiment among Swiss watch aficionados. Many view this development as a brilliant business manoeuvre and a touching testament to the enduring loyalty between long-time partners.  

Swiss Precedent  

Let’s be unequivocal — Rolex is not a brand that dilutes its exclusivity. Over its century-long history, the Hans Wilsdorf Foundation has privately owned and operated only two marques: Rolex and its sibling brand, Tudor. The two brands were founded by Wilsdorf in 1926 to provide Rolex-quality watches at a more accessible price point. Much like esteemed brands such as Ferrari, Rolex meticulously guards its aura of exclusivity and its relationship with buyers. It’s not uncommon for a used Rolex in good condition to fetch a higher price than a new model, and prospective buyers often endure a long wait, ranging from months to years, to secure a coveted timepiece. While Rolex does have plans to expand production lines post-2025, the tangible effects of this expansion are still several years away.   

Meanwhile, the Bucherer move has certainly stirred things up for Rolex’s largely decentralised distribution network. The UK-based ‘Watches of Switzerland Group’, responsible for a significant portion of the global Rolex distribution, has seen its year-to-date stock price plummet by 36.5 per cent, largely after the 2023 August buyout. Investor sentiment has notably shifted towards Bucherer, which boasts of an extensive network of approximately 100 sales outlets across Europe and the United States. Out of these, 53 carry Rolex watches, and 48 offer Tudor timepieces. Bucherer also serves as an official after-sales service centre for both brands.  

Currently, the sole Rolex store directly owned and operated by the brand is located in its hometown, Geneva. Therefore, Rolex’s projected consumer sales footprint has, almost overnight, expanded exponentially, marking a profound strategic shift. With only half of Bucherer’s retail locations currently offering Rolex watches, this presents an enticing opportunity for deeper collaboration with the Swiss retailer, potentially leading to increased availability, a blow to the grey market and closer synergy between CFB and Rolex’s design teams.  

Old Bonds  

While Rolex readies itself for significant development in the latter half of this decade, the enigmatic 87-year-old Swiss billionaire, Jörg G. Bucherer, watches closely from the shadows. Rolex’s press release served as a reminder that this octogenarian, who has famously never granted an interview, is one of the last remaining watchmaking stalwarts to have personally known Hans Wilsdorf. Like Wilsdorf, Bucherer has no direct descendants to carry forward the Bucherer legacy — giving the change of hands an oddly poetic quality, mirroring the events of a century ago.   

In many ways, it appears that Rolex has acquired the company as a defensive manoeuvre, intending to safeguard the Bucherer legacy within familiar confines before it potentially falls into the hands of a more opportunistic competitor. This strategic move is likely to resonate with sentimental CFB fans; a thought reinforced by positive online reactions to the move. However, for many, this acquisition has raised amusing questions such as, “Will there be another store where I can go without being offered a Rolex?” Of course, time will tell as always with this historic brand…