Watches of Switzerland Group has acquired Roberto Coin Inc. for $130 million.
Roberto Coin Inc. holds exclusive rights to import and distribute Roberto Coin jewelry throughout the U.S., Canada, the Caribbean and Central America. Watches of Switzerland Group bought the company from Roberto Coin S.p.A., Pilar Coin and Peter Webster, co-founder and president of Roberto Coin Inc.
Webster will remain as president of Roberto Coin Inc., reporting to David Hurley, president North America and deputy CEO of Watches of Switzerland Group. The Coin family will retain a seat on the board of directors of Roberto Coin Inc.
Roberto Coin Inc. sells to major department stores, jewelry chains and independent jewelers at more than 400 points of sale.
Brian Duffy, CEO of Watches of Switzerland Group, said:
“We have partnered with Roberto Coin for over a decade in the US, retailing its elegant jewellery 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.
“We believe there is significant opportunity to leverage our proven retail expertise in luxury branded jewellery. The luxury branded jewellery category has consistently outperformed the wider jewellery sector, and we see further strategic and operational opportunities for the business within the broader Group. We are committed to our new wholesale partners and excited to work with them and help them grow with Roberto Coin.
“Today’s strategically and financially attractive acquisition is indicative of our ambition and the momentum we are building in this exciting category. It will allow us to take one of the fastest growing jewellery brands in the US and use our retail and operational expertise to accelerate growth and further elevate the Roberto Coin proposition in North and Central America.
“It has been a great pleasure getting to know Roberto and Peter over the last 18 months while we have been discussing this exciting opportunity. We are enormously appreciative of the trust Roberto, his family and Peter Webster have placed in us for this important next stage of the brand’s development. We are delighted to welcome Roberto Coin Inc. colleagues into the Group and look forward to working closely with Roberto and Peter going forwards.”
Roberto Coin, Founder and CEO of Roberto Coin, said:
“Today’s announcement marks a significant step change in the development of Roberto Coin Inc.
“Roberto Coin is synonymous with design creativity, diversity, innovation and imagination. We are delighted to have partnered with the Watches of Switzerland Group, who have a real understanding and appreciation of our unique, world-class brand and products, and can accelerate our retail strategy in North and Central America.
“We look forward to benefitting from their wealth of luxury retail and digital experience to unleash the growth potential of the Roberto Coin brand across our chosen markets.”
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