Watches of Switzerland acquires Roberto Coin for US$130m

Watches of Switzerland, a luxury watch and jewellery retailer, has acquired the North American division of Italian jewellery brand Roberto Coin, for $130 million. The deal, announced on Thursday, gives Watches of Switzerland exclusive distribution rights and ownership of the Roberto Coin brand in the US, Canada, Central America and the Caribbean.

Transaction snapshot

  • Deal value: US$130 million
  • Deal type: Acquisition
  • Investors: Watches of Switzerland Group (WOS)

WOS financed the acquisition with a $115 million term loan facility. Roberto Coin Inc. will continue to operate independently within the Watches of Switzerland Group, with the Coin family retaining a board seat and Peter Webster remaining as president.

Roberto Coin is the sixth largest jewellery brand in the US by retail sales, with over 400 points of sale including department stores, jewellery chains and independent jewellers. In 2022, it had revenue of $146.2 million and pre-tax profit of $30.1 million. Preliminary 2023 figures show $138.7 million in revenue and $30.2 million pre-tax profit.

WOS aims to elevate the brand's in-store presence, enhance digital and online sales, develop mono-brand stores, and expand wholesale distribution. CEO Brian Duffy noted the acquisition aligns with WOS's strategy, as branded jewellery grew from 17% to 27% of the global luxury jewellery market between 2019 and 2024.

The deal comes just a day after Richemont acquired Italian jeweller Vhernier, signalling strong interest in the branded luxury jewellery segment. For WOS, the Roberto Coin acquisition is a strategic move to accelerate growth in a category that currently comprises only 7% of its sales mix.

📌 if you're looking to learn more about how to go about your own exit, or would like to learn more about the M&A landscape in Australia, click here to book in a free confidential consultation.

Back to blog