The Watches of Switzerland group has announced the acquisition of the luxury jewelry brand Roberto Coin. This transaction is part of the strategy of the British retailer specializing in watchmaking to position itself in the jewelry market, especially in North America.
The Watches of Switzerland group has just finalized the acquisition of the Italian jeweler Roberto Coin. Based in London, the retailer specializing in the watchmaking sector aims to consolidate its position in the highly competitive luxury jewelry market.
The union between these two companies is not unexpected. “We have been partnering with Roberto Coin for over a decade in the United States, selling their elegant jewelry in a number of our showrooms,” said Brian Duffy, CEO of Watches of Switzerland. “It is an extremely popular and growing brand, holding a strong position in the market, supported by the quality of the products, creativity, and imagination of their design.”
Valued at approximately $130 million, the transaction guarantees Watches of Switzerland the exclusive distribution rights of the Italian brand in North America, Canada, Central America, and the Caribbean.
Post-acquisition conditions have also been established, with $10 million of the total payment deferred by one year, subject to the fulfillment of certain financial conditions.
Beneficial Transaction for Both Parties
It has been announced by the jewelry brand Roberto Coin that its current president, Peter Webster, will remain at the helm of the company to ensure the management and continuity of its artistic identity. On the other hand, the Coin family will retain a seat on the board of directors.
By adding Roberto Coin to its portfolio, Watches of Switzerland aims to leverage the Italian company with its expertise in digital and in-store retailing to accelerate its growth. This strategy marks a new milestone for the British group, which aims to further establish itself in the luxury jewelry market, one of the largest in the world.
Roberto Coin, a Flourishing Jeweler
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Featured Photo: © Roberto Coin
