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Watches Of Switzerland Group Acquires Roberto Coin Inc. For $130 Million

HighLifeChannel May 14, 2024

Some exciting news out of the jewelry world today at the Watches of Switzerland Group PLC (WOSG) has taken a bold step in solidifying its presence in the luxury jewelry market with the acquisition of Roberto Coin Inc., a U.S.-associated company of Roberto Coin S.p.A. This acquisition, valued at approximately $130 million, secures exclusive distribution rights for the Roberto Coin brand across North America, encompassing the USA, Canada, Central America, and the Caribbean.

The acquisition builds upon WOSG’s proven capabilities in the luxury jewelry sector and marks a significant milestone in its strategy to accelerate growth in this category in the U.S., the world’s largest and fastest-growing luxury jewelry market. With a portfolio of 57 showrooms across the United States, WOSG aims to leverage its retail and digital expertise to elevate the Roberto Coin brand.

Watches of Switzerland Group Acquires Roberto Coin Inc. for $130 Million

Under the new ownership structure, Roberto Coin Inc. will retain its leadership team, with Peter Webster remaining as President and the Coin family maintaining a seat on the Board of Directors. The acquisition will allow WOSG to apply its expertise in digital and in-store retailing to enhance the Roberto Coin brand, develop a mono-brand boutique network, and expand into franchised boutiques with new and existing wholesale partners.

For Brian Duffy, the CEO of Watches of Switzerland Group, the acquisition was a no-brainer: “We have been long-term admirers of the Roberto Coin brand and are delighted to welcome Roberto Coin Inc. colleagues into our Group. 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. As the owner of luxury jewelry retailers, including Mayors and Betteridge in the U.S., and Mappin & Webb and Goldsmiths in the U.K., the Watches of Switzerland Group has a unique appreciation of the exquisite design and quality of the Roberto Coin product. We look forward to bringing our considerable retail expertise to nurture and grow the Roberto Coin brand.”

The acquisition was financed through a new $115 million term loan facility. As a result, the Group’s leverage increased to approximately 0.8x Net Debt/Adjusted EBITDA. The acquisition is expected to be margin-enhancing and EPS-accretive from day one, further solidifying WOSG’s financial position.

The Watches of Switzerland Group is committed to a flawless integration of Roberto Coin Inc., ensuring that the brand continues to operate independently while benefiting from the Group’s vast retail expertise. This acquisition represents WOSG’s ambition to build momentum in the luxury branded jewelry market, providing Roberto Coin with the tools and support needed to accelerate growth and further elevate its brand proposition in North America. By combining their strengths, WOSG and Roberto Coin are poised to reshape the luxury jewelry market in the U.S., leveraging creativity, innovation, and operational excellence to drive future success.


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