British retailer Watches of Switzerland Group recently announced its acquisition of the U.S. division of Italian jewellery brand Roberto Coin Inc. For a hefty sum of US$130 million (approximately C$177 million), Watches of Switzerland gains exclusive distribution rights to Roberto Coin jewellery across the United States, Canada, the Caribbean, and Central America.
As per National Jeweler, the deal’s announcement cites Roberto Coin Inc. as the sixth-largest jewellery brand in the United States by sales, boasting an annual revenue of US$146.2 million (C$199.1 million) and pre-tax profits of US$30.1 million (C$41 million) during the 2022 fiscal year.
Watches of Switzerland Group CEO Brian Duffy says, “We have partnered with Roberto Coin for over a decade in the U.S., retailing its elegant jewelry in a number of our Mayors’ showrooms. It is a hugely popular, growing brand, occupying a strong position in the market, underpinned by product quality, design creativity, and imagination.”
