Watches of Switzerland Group Acquires Texas Jeweler Deutsch & Deutsch

Expanding U.S. Footprint

The Watches of Switzerland Group has announced the acquisition of a majority stake in Deutsch & Deutsch Jewelers, a four-store luxury watch and jewelry retailer based in Texas. The deal, which gives Watches of Switzerland 88 percent of Deutsch & Deutsch’s share capital with an option to acquire the remaining stake, marks a significant expansion of the group’s presence in the United States.

Deutsch & Deutsch, a family-owned business with roots dating back to the 1920s, operates showrooms in El Paso, Laredo, McAllen, and Victoria, Texas. The retailer is an authorized distributor for prominent brands including Rolex, Roberto Coin, Cartier, Omega, Tudor, TAG Heuer, Breitling, and IWC Schaffhausen. According to Watches of Switzerland, the four Texas showrooms generated a combined annual revenue of $67 million in the fiscal year ended December 31, 2024.

Maintaining Brand Identity and Leadership

In line with its strategy of preserving the local strength of acquired brands, Watches of Switzerland Group has stated that the stores will continue to operate under the Deutsch & Deutsch name. This approach reflects the brand’s near-centenary history and its established presence in its communities. Furthermore, the current leaders of Deutsch & Deutsch, Tad and Aladar “Ito” Deutsch, grandsons of founder Aladar Deutsch, will remain with the business and continue to play a key role in managing the showrooms post-acquisition.

Aladar Deutsch immigrated to the United States from Hungary during World War I and opened the precursor to Deutsch & Deutsch in Nuevo Laredo, Mexico, in 1929. The retailer has since grown into a respected name in Texas.

Strategic Growth in the U.S. Market

Brian Duffy, CEO of Watches of Switzerland Group, expressed his admiration for Deutsch & Deutsch, calling the acquisition a ‘value-accretive’ move that complements the group’s existing U.S. showroom network. He highlighted the intention to combine Deutsch & Deutsch’s local expertise with the strengths of Watches of Switzerland Group to further strengthen its leading position in the U.S. luxury watch and jewelry market. This acquisition is seen as a key pillar in the group’s growth strategy, with expectations of delivering attractive financial returns, consistent with previous successful acquisitions.

Following this latest acquisition, Watches of Switzerland Group now operates a network of 25 Rolex-anchored showrooms across the United States. The group’s U.S. portfolio also includes Watches of Switzerland-branded stores, Mayors, and three Betteridge stores. The company also owns the pre-owned watch retailer Analog Shift and the watch media platform Hodinkee.

Store Enhancements Planned

Watches of Switzerland Group also noted that two of the acquired Deutsch & Deutsch locations have recently undergone significant renovations and upgrades. Plans are in place to implement similar enhancements to the remaining two showrooms, ensuring they meet modern luxury standards and align with the group’s overall retail presentation.