Watches of Switzerland Group (WOSG) has acquired Deutsch & Deutsch, an authorised distributor of brands such as Rolex, Omega, Tag Heuer and Breitling.
WOSG is the UK’s largest luxury watch retailer and has stores and showrooms in London, Birmingham, Manchester and Sheffield.
Deutsch & Deutsch has four showrooms in Texas, USA, and two of the sites have recently undergone “significant expansion and refurbishment,” with planning underway for similar upgrades to its remaining showrooms.
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WOSG, which recently reported rising profits, said the showrooms were “highly complementary” to the firm’s existing presence in Texas and would continue to trade under the Deutsch & Deutsch name.
The company’s former owners Tad and Aladar Deutsch are set to remain with Deutsch & Deutsch and will “continue to play a key role” in leading the showrooms post-acquisition.
WOSG CEO Brian Duffy 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, strengthening our leading position in the luxury watch and jewellery market in the US.
“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.”
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