Tourneau Sold To Bucherer

Tourneau Sold To Bucherer

Postby TemerityB » February 2nd 2018, 4:34pm

Big news in this area. Sorta kinda news for me as well, as I've shopped their Manhattan "Time Machine" hub and their store in Long Island for years. I actually want to reserve comment until I talk to the people I know locally that have worked there for years. From Forbes:

For an undisclosed sum, European retail giant, Bucherer Group, has purchased Tourneau from Green Equity Investors IV. Tourneau, an American retail institution since it opened its first doors in the United States in 1930, had been a privately owned family business until 2006, when it was sold to Leonard Green & Partners. That sale was made for the sum of $355 million. Expert estimates say this new sale of the American retail giant to the European retail giant could be just a wee bit more. Currently, Tourneau has nearly 30 Tourneau brick-and-mortar locations across the country, as well as sub-stores, and a huge on-line business.

The Tourneau retail operation dates back to 1900, with the Wexler family opening a store first in Europe before moving to America and starting the business there. The family, and later the Green Equity owners, focused squarely on selling luxury timepieces. Not only does the brand sell dozens upon dozens of watch brands, but it also has a very strong business in certified pre-owned watches.

Similarly, the Lucerne, Switzerland-based Bucherer Group has roots dating back to 1888, when Carl-Friedrich Bucherer and his wife opened the family's first jewelry and watch store in Lucerne. Since, then, the brand has been family owned and operated, and has grown substantially. Not only can the group boast the largest retail watch and jewelry store in Scandinavia, but also it has a host of Bucherer stores around the world. Last year, the company expanded its portfolio by purchasing The Watch Gallery stores in London.



This new US purchase affords the brand the opportunity to spread its wings in America. With the purchase of the Tourneau inventory and the stores, it is expected that the Bucherer Group -- one of the largest retailers of Rolex in the world -- will evaluate all Tourneau stores and opt to keep only the most successful locations. Whether or not, or when, the Group will change the Tourneau name to Bucherer remains to be seen. However, if the Group plans to have a cohesive global brand and name recognition, it will need to find a way to integrate Bucherer and Tourneau names.

In a news announcement posted on the Bucherer Group's website on January 31, the CEO, Guido Zumbühl, said, “With over a century of expertise as the preeminent purveyor of fine watches in the U.S., Tourneau provides an exciting opportunity for the Bucherer Group to establish a footprint and extend our offering of fine watches and jewelry to the United States. With this acquisition, we will immediately introduce the Bucherer brand to millions of potential customers in one of the most important global watch and jewelry markets. This is also a great opportunity to firmly establish the Carl F. Bucherer brand in the US and introduce Bucherer Fine Jewellery into the North American market.”

Indeed, in addition to selling dozens of luxury watch brands with well-known names, the Bucherer Group also owns its own Swiss watch brand: Carl F. Bucherer. Also a globally distributed brand, Carl F. Bucherer creates timepieces for men and women, with styles ranging from the sporty Scuba-Tec (with conservation involvements) to the classically elegant Manero.


https://www.forbes.com/sites/robertanaa ... 44d11e5d00

From A Timely Perspective (dot com, naturally):

So, what does it mean for Tourneau followers and fans? And, more importantly, what does it mean for American watch retailers? While it remains to be seen, we think this acquisition is both good and bad. For fans and shoppers of Tourneau, it means only good things. After all, the Bucherer Group is a stalwart retailer with stores through out Europe operating for decades upon decades. The brand is known for its service and its selection. The same has been true of Tourneau, so the synergies are nice.

Additionally, Bucherer Group may be able to introduce some new brands to America via Tourneau stores, or at least via the incredible on-line reach of the Tourneau e-commerce platforms. It seems a win / win for the Bucherer Group, as well, which has indicated that the Group may put a renewed and stronger focus on its Carl F. Bucherer watch line, which has not been a household name among Americans to date. Provided Bucherer Group continues its smart business practices here, we expect “Tourneau” to continue strong.

Still, one must wonder what this means for the state of American watch retailing and global growth of on-line e-commerce. American brick-and-mortar retailers are already working diligently to keep their customers especially with e-commerce on the rise. Having a very well-organized, well-oiled machine like the Bucherer Group coming into key major cities may have certain retailers rethinking their strategies and trying to figure out how to compete.


http://www.atimelyperspective.com/blog/ ... rneau.html
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Re: Tourneau Sold To Bucherer

Postby foghorn » February 2nd 2018, 4:42pm

I haven't shopped at the local Tourneau for a few years. They are everything an AD should not be. I think they've gone way downhill.
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Re: Tourneau Sold To Bucherer

Postby Thunder1 » February 2nd 2018, 4:56pm

We'll see, we'll see..
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Re: Tourneau Sold To Bucherer

Postby TemerityB » February 4th 2018, 6:23pm

I talked to a couple of employees this weekend and they actually didn't think it was going to change things all that much.

What I'd like to see, as a consumer: Tourneau was better in my area when the stores had a bigger selection of brands. The Time Machine store, the NYC big one, is the best of all their area stores because you can pick up less expensive brands such as Oris, Hamilton, Tissot, G-Shock, Victorinox, etc.

Yet ... if you get anything off MSRP at Tourneau, it's usually on either pre-owned or on something that's laid around the store for ages (case in point: the Oris Chet Baker I picked up last year). How about a friggin' sale once in a while - yeah, an advertised sale?

While Bucherer operates stores in Europe and and does well, the U.S. clearly has price-reactive consumers, even in the "luxury" sector. We are educated to never pay list price for anything, from cars to chicken nuggets - so if Bucherer tries to turn Tourneau into a chain of tuxedos and Swiss chocolates and champagne, they'll last about, oh, 18 months. After two years of listening to people moan about how watch sales were down, doin' the snooty-poot first and foremost ain't gonna cut it in an era where Fitbit is on the lips of just about everybody, and you can pick up Apple Watches at Target. Even with a better economy (barely), retailing is changing, and brick and mortar, as much as I prefer it, means less every single day.
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Re: Tourneau Sold To Bucherer

Postby tiktok » February 4th 2018, 9:27pm

I am the king of Wall Street. Two days ago I traded my watch for this CF Bucherer.

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Now CF Bucherer takes over Torneau. I think I'll bet on the Eagles tomorrow morning.

I too cringe at Tourneau. It must be a horrible place to work with people using it as a live "changing room" to try watches on before buying online. One friend in the industry said Torneau is very slow at paying its bills. I have gotten some good prices buying from Germany but have no idea if CFB will move to a more dynamic sales approach.
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