Watches of Switzerland Snaps Up Roberto Coin for $130M

Watches of Switzerland has acquired the distribution rights to jeweler Roberto Coin’s North American markets for $130 million, with plans to expand its wholesale business to independent retailers and beyond the US. 

The deal comes following a more than 10-year relationship between the Rolex owner — which also offers brands including Breitling and TAG Heuer — and Roberto Coin, with the latter’s jewelry already available in 16 Watches of Switzerland showrooms in the US. The move will “significantly enhance” Watches of Switzerland’s strategic positioning in the luxury branded jewelry space in the US, it said Thursday. 

Watches of Switzerland will grow the wholesale business of Roberto Coin Inc., the jeweler’s US-associated operation, it noted. That includes expanding its presence with independent retailers and growing its international market. It will also increase the number of its own stores that carry the jewelry brand, as well as open mono-brand boutiques and franchise stores. 

The Coin family will retain a seat on the company’s board of directors, and Peter Webster, cofounder of Roberto Coin, will remain president of the jewelry brand. He will report to David Hurley, North American president and deputy CEO of Watches of Switzerland. 

“We have partnered with Roberto Coin for over a decade in the US, retailing its elegant jewelry in a number of our Mayors showrooms,” said Brian Duffy, CEO of Watches of Switzerland. “It is a hugely popular, growing brand, occupying a strong position in the market. We believe there is significant opportunity to leverage our proven retail expertise in luxury branded jewelry. The luxury branded jewelry category has consistently outperformed the wider jewelry sector, and we see further strategic and operational opportunities for the business within the broader group.” 

In 2022, Roberto Coin Inc. reported annual revenue of $146.2 million and profit before tax of $30.1 million. Preliminary 2023 results indicate revenue of $138.7 million and $30.2 million in profit before tax, Watches of Switzerland added. 

Image: Jewelry from Roberto Coin’s Fleur de Lis collection. (Watches of Switzerland)