REG - Watches of Switzlnd. - Acquisition of four new US showrooms

Watches of SwitzerlandAnnouncement

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RNS Number : 0285Q  Watches of Switzerland Group PLC  22 January 2026

22 January 2026

 

Acquisition of four new US showrooms

Acquisition of Deutsch & Deutsch, an official distributor of Rolex,
Roberto Coin, Cartier, OMEGA, TUDOR and other key luxury brands

 

The Watches of Switzerland Group ('the Group') is pleased to announce that it
has completed the acquisition of Deutsch & Deutsch.

 

Deutsch & Deutsch is a family-owned luxury watch and jewellery retailer
that has been operating in Texas, US since the 1920s. The business is an
authorised distributor of Rolex, Roberto Coin, Cartier, OMEGA, TUDOR, TAG
Heuer, Breitling and IWC Schaffhausen.

 

Deutsch & Deutsch has four showrooms operating in Texas: El Paso, Laredo,
McAllen and Victoria. Two of these locations have recently undergone
significant expansion and refurbishment to the highest standards of modern
luxury, with planning underway for similar upgrades to the remaining
showrooms. The showrooms are highly complementary to the Group's existing
presence in Texas and will continue to trade under the Deutsch & Deutsch
name, reflecting the local strength of the brand as it approaches its
centenary. Tad and Aladar Deutsch will remain with the business and continue
to play a key role in leading these showrooms post-acquisition.

 

For the financial year ended 31 December 2024, the four showrooms generated a
combined annual revenue of $67 million with profitability in line with the
Group's existing US retail business. We see opportunity to further enhance the
product line-up by introducing further access to the wide range of luxury
watch and jewellery brands sold by the Watches of Switzerland Group.

 

Following this acquisition, the Watches of Switzerland Group operates 25 Rolex
anchored showrooms in the US.

 

The acquisition comprised the purchase of 88% of Deutsch & Deutsch, with
an option to buy the remaining share capital. Strategic acquisitions are a key
pillar of the Group's growth strategy and capital allocation framework. We
expect this transaction to deliver attractive financial returns, in line with
our successful track record of previous showroom acquisitions.

 

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, 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."

 

Q3 FY26 Trading Update

The Group will publish its Q3 FY26 Trading Update on 4 February 2026. A
webcast conference call for analysts and investors will be held at 9.00am (UK
time) on that date.

 

Contacts
 The Watches of Switzerland Group
 Anders Romberg, CFO                                                             +44 (0) 207 317 4600
 Caroline Browne, Group Finance and Investor Relations Director                  +44 (0) 116 281 7420
 investor.relations@thewosgroup.com (mailto:investor.relations@thewosgroup.com)

 Headland
 Lucy Legh / Rob Walker / Scarlett Hateley                                       +44 (0) 203 805 4822
 wos@headlandconsultancy.com (mailto:wos@headlandconsultancy.com)

 
About the Watches of Switzerland Group

The Watches of Switzerland Group is the UK's largest luxury watch retailer,
operating in the UK and US comprising eight prestigious brands; Watches of
Switzerland (UK and US), Mappin & Webb (UK), Goldsmiths (UK), Mayors (US),
Betteridge (US), Deutsch & Deutsch (US), Analog:Shift (US) and Hodinkee
(US), with a complementary jewellery offering. Since 8 May 2024, the Group has
also owned the exclusive distribution rights for Roberto Coin in the US,
Canada, Central America and the Caribbean.

 

As at 22 January 2026, the Watches of Switzerland Group had 200 showrooms
across the UK and US including 83 dedicated mono-brand boutiques in
partnership with Rolex, OMEGA, TAG Heuer, Breitling, TUDOR, Longines, Grand
Seiko, Roberto Coin, BVLGARI and FOPE and has a leading presence in Heathrow
Airport with representation in Terminals 2, 3, 4 and 5 as well as seven retail
websites.

 

The Watches of Switzerland Group is proud to be the UK's largest retailer for
Rolex, OMEGA, Cartier, TAG Heuer and Breitling watches.

www.thewosgroupplc.com (http://www.thewosgroupplc.com)

 

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