It’s been hurt by location and other factors.
Tourneau, which sells high-end watch brands such as Rolex, Patek Philippe and Cartier, is for sale, according to media reports.
Leonard Green & Partners, owner of the retailer, has engaged Houlihan Lokey to sell the company, Debtwire reported, citing “two sources close to the situation.”
But after three months, there’s been little success in attracting a buyer, according to Debtwire.
Tourneau and other companies in the luxury watch business are being hurt by a declining market for watch exports. The popularity of smartphones has “without a doubt eaten into the market share of global timepieces,” Debtwire notes.
But the New York Post identified another problem facing Tourneau: the proximity of the retailer’s New York flagship to Trump Tower. Traffic in the area since the election has caused the store to lose about $2 million in revenue, the Post reported, citing “a source close to the company.”
Advertisement
A Tourneau spokesman would not comment, the Post reported.
The company has 31 locations in all.
Read more at Debtwire and the New York Post
Ready to Relocate? Wilkerson Makes Your Move Seamless
When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time.
"We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them.
Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."
