Watches of Switzerland Group Expands Luxury Portfolio

3 mins read

The Watches of Switzerland Group (WOSG) continues its expansion into the luxury jewellery market with the acquisition of Roberto Coin Inc., the American arm of the esteemed Italian jewellery brand. With a transaction valued at $130 million, this move marks a significant milestone in WOSG’s strategy to strengthen its presence in the luxury branded jewellery sector.

Founded in Vicenza, Italy, Roberto Coin S.p.A. is renowned for its handcrafted jewellery featuring a distinctive ruby signature. Its American subsidiary ranks as the sixth-largest jewellery brand in the US by retail value, holding exclusive perpetual rights for importing and distributing Roberto Coin’s jewellery across the US, Canada, Caribbean, and Central America.

Under the terms of the acquisition, Roberto Coin Inc. will operate as an independent business within WOSG, with the Coin family retaining a seat on the unit’s board and Peter Webster continuing as President. Leveraging its established partnership with Roberto Coin spanning over a decade, WOSG aims to capitalise on the brand’s strong market position and further drive growth in the luxury jewellery segment.

Despite watches constituting the primary revenue stream for WOSG, luxury branded jewellery represents a core pillar of its growth strategy. With the global luxury jewellery market increasingly favouring branded offerings, WOSG sees substantial opportunities for expansion and enhancement of the Roberto Coin brand in North and Central America.

The acquisition aligns with WOSG’s expertise in showcasing luxury brands across both watches and jewellery, enabling synergies in retail operations and strategic positioning. Plans include expanding wholesale distribution, growing the Roberto Coin Collection, and strengthening the online and offline retail presence.

With an eye on profitability, WOSG intends to optimise operational efficiencies and capitalise on growth opportunities, guided by Roberto Coin Inc’s strong financial performance. The deferred purchase price, contingent on future profitability, underscores WOSG’s commitment to maximising the brand’s potential.

CEO Brian Duffey expresses optimism about the acquisition, highlighting the brand’s popularity and growth trajectory. He emphasises WOSG’s dedication to leveraging retail expertise to accelerate Roberto Coin’s growth and elevate its proposition in the competitive North American luxury jewellery market.

The acquisition of Roberto Coin Inc. shows WOSG’s ambition and momentum in expanding its luxury portfolio, positioning the group for continued success in the evolving landscape of luxury retail.