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LEICESTER, U.K. and Laredo, TX--The Watches of Switzerland Group said Friday that it has completed the acquisition of Deutsch & Deutsch, a family-owned luxury watch and jewelry retailer that has been operating in Texas since the 1920s. The business is an authorized distributor of Rolex, Roberto Coin, Cartier, OMEGA, TUDOR, TAG Heuer, Breitling and IWC Schaffhausen.

Watches of Switzerland Group now owns 88% of Deutsch & Deutsch shares with an option to buy the remaining share capital.

Deutsch & Deutsch has four showrooms operating in Texas: El Paso, Laredo, McAllen and Victoria. Two of these locations have recently undergone expansion and refurbishment, with planning underway for similar upgrades to the remaining showrooms, Watches of Switzerland said in a statement, adding that the retail business compliments Watches of Switzerland’s existing business in Texas.

The retailer will continue to operate under the Deutsch & Deutsch name, “reflecting the local strength of the brand as it approaches its centenary,” Watches of Switzerland said. Tad and Aladar Deutsch will remain with the business and continue to play a key role in leading these showrooms post-acquisition. 

For the financial year ended December 31, 2024, the four showrooms generated a combined annual revenue of $67 million with profitability in line with the Group’s existing U.S. retail business, according to the statement. In addition, Watches of Switzerland expects to add new watch brands to the retailer’s portfolio of timepieces.

With this acquisition, the Watches of Switzerland Group now operates 25 Rolex anchored showrooms in the U.S.

"We have admired Deutsch & Deutsch for many years and see this value-accretive acquisition as an excellent complement to our existing U.S. showroom network, strengthening our leading position in the luxury watch and jewelry market in the U.S., said Brian Duffy, CEO of the Watches of Switzerland Group.