The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Company That Bought Tourneau Snaps Up Another US Retailer
Bucherer USA now owns Baron & Leeds, which has stores and Rolex boutiques in Hawaii and California.
New York—Bucherer USA, the parent company of Tourneau and the U.S. arm of Swiss company Bucherer, announced late Monday that it has purchased U.S. retailer Baron & Leeds.
Terms of the transaction were not disclosed.
Founded in 2002, Baron & Leeds operates two Rolex boutiques, one at South Coast Plaza in California and the other at International Market Place in Honolulu, and two eponymous stores on Maui, one at Whalers Village in Lahaina and the other at The Shops at Wailea.
The Baron & Leeds stores carry Rolex, Tudor, Patek Philippe and Chanel watches as well as jewelry from Marco Bicego, Mikimoto, Lisa Nik, Como Italia and GIA-graded diamonds. The stores also sell pre-owned watches.
The company said that it is yet to be determined if the two Maui stores will continue to operate as Baron & Leeds or will become Bucherer or Tourneau stores. It did note it would be retaining Baron & Leeds employees though the sellers, Terry Weiner and David Baron, will be leaving to “pursue other interests.”
Tourneau CEO Ira Melnitsky said the acquisition of Baron & Leeds represents “an important step forward in the continued growth of Tourneau.”
“We are proud to be able to expand our customer relationships in both California and Hawaii. Baron & Leeds has always shared our passion for exceptional products and unparalleled customer service. and we are excited to welcome all of their employees to our team,” he said.
Bucherer bought Tourneau in February from Green Equity Investors IV LP, an investor group that included members of the Wexler family, which owned Tourneau for decades.
Based in Lucerne, Switzerland, Bucherer is a family-owned company that has more than 30 watch and jewelry stores in Europe and is the manufacturer of Carl F. Bucherer watches.
The purchase of Tourneau effectively doubled its retail footprint. Tourneau now has a total of 24 stores in the United States, after opting not to renew the leases on two stores earlier this year.
Editor's note: This story was updated post-publication to include information about the two gentlemen who sold Baron & Leeds.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.