WoS Group announces acquisition of Deutsch & Deutsch
The Watches of Switzerland Group continues its relentless march across US soil with its latest acquisition of Deutsch & Deutsch.
The family-owned retailer has four showrooms in Texas in El Paso, Laredo, McAllen, and Victoria, with two of the locations recently undergoing significant expansion.
Collectively, the four stores generated an annual revenue of $67m in the year ending 2024, with profitability in line with the Watches of Switzerland Group’s existing US retail business.
The retailer currently distributes Rolex, Roberto Coin, Cartier, Omega, Tudor, TAG Heuer, Breitling, and IWC Schaffhausen.
The acquisition sees Watches of Switzerland purchase 88% of the retailer, with the option to buy the remaining share capital.
Deutsch & Deutsch will continue to operate the showrooms under its name and Tad and Aladar Deutsch will stay on to play a key role in leading the business.
Watches of Switzerland says it plans to further enhance the product line-up, introducing access to brands it sells.
The acquisition notably sees the Group officially operate 25 Rolex anchored showrooms in the US.
Brian Duffy, Chief Executive Officer of the Watches of Switzerland Group, said: “We have admired Deutsch & Deutsch for many years and see this value-accretive acquisition as an excellent complement to our existing US showroom network.
“We look forward to combining Deutsch & Deutsch’s local expertise with the strengths of the Watches of Switzerland Group as we continue to grow our presence in this key market.”
The US market will continue to be a key driver of business growth for the Group, after it announced underwhelming financial results for the most recent financial year for its UK operation.
