Watches of Switzerland Group acquires Roberto Coin to strengthen luxury jewelry portfolio

The Watches of Switzerland Group (WOSG) has completed a significant acquisition, purchasing the entire share capital of Roberto Coin Inc. from Roberto Coin S.p.A., Pilar Coin, and Peter Webster for a total of $130 million. This strategic move aims to enhance the Group’s presence in the high-stakes luxury jewelry market in North America.

The acquisition, which includes a deferred payment of $10 million based on future profitability, positions the Watches of Switzerland Group to leverage its existing capabilities and further penetrate the branded jewelry segment, which has shown robust growth trends. This transaction is not only financially attractive but also strategic, enhancing the Group’s portfolio and retail presence across North and Central America.

Branded jewelry, a core pillar of WOSG’s growth strategy, accounted for 27% of the global market in 2024, reflecting a significant increase from 17% in 2019. The acquisition of Roberto Coin Inc. aligns with this trend and builds on a decade-long successful partnership between the entities. The integration promises to harness the Group’s operational and retail expertise, enhancing strategic positioning in the U.S., the world’s largest per capita luxury jewelry market.

Under the continued leadership of Peter Webster as President, Roberto Coin Inc. is set to expand its wholesale network and develop direct-to-consumer channels through WOSG’s retail boutiques and online platforms. This includes increasing showroom points-of-sale, utilizing CRM and clienteling capabilities to boost sales, and developing market-leading shop-in-shop display formats.

In 2022, Roberto Coin Inc. reported revenue of $146.2 million with a profit before taxation of $30.1 million. The acquisition, funded through a $115 million term loan, is expected to be margin enhancing and accretive to earnings per share from the acquisition date. This strategic expansion is anticipated to solidify WOSG’s market position by leveraging the Roberto Coin brand’s strong market presence and competitive edge against leading industry brands.

Brian Duffy, CEO of Watches of Switzerland, expressed enthusiasm for the acquisition, noting the brand’s potential for further growth and market penetration. Roberto Coin, the founder of the brand, highlighted the partnership’s strength and the shared vision for the future. The acquisition plan includes maintaining Roberto Coin Inc.’s operational independence while integrating it into the broader Group’s strategy, promising a seamless transition and continued innovation in design and retail experience.

This acquisition marks a pivotal step for Watches of Switzerland Group in its pursuit to dominate the luxury jewelry market in North America. With the integration of Roberto Coin Inc., WOSG is poised to enhance its market offerings, expand its customer base, and deliver increased value to its stakeholders. The future looks promising for the Group as it continues to build on its foundation of quality, luxury, and strategic growth.