Swiss watch designer Rolex has acquired watch and jewellery retailer Bucherer, but the latter will still keep its name and operate independently.

The acquisition, which will be effective after the takeover transaction is approved, followed Jörg Bucherer’s decision to sell his business in the absence of direct descendants. 

Bucherer’s management team will remain unchanged, while Rolex’s collaboration with other official retailers in its sales network will not be affected. 

Rolex says the move is to “preserve” the long-standing partnership between the two companies, which started when Bucherer became an official retailer of Rolex in 1924.

Bucherer now accounts for more than 100 outlets worldwide, of which 53 distribute the Rolex brand. The watch retailer is also an official after-sales service centre for Rolex.