Tourneau is Acquired by Bucherer and Loses Its Name…
Tourneau’s first store opened in 1930 / Credit: Tourneau
Given the recent news of the Tourneau brand being wound down by its new owner, Bucherer, we wanted to take a look at the history of the American retail brand – before it’s too late!
For over a century the Tourneau name has been at the forefront of luxury watch sales in the United States. Some might say the brand was synonymous with luxury watches in certain regions. Alas, it was recently announced that Bucherer would be phasing out the use of ‘Tourneau’, first shifting to ‘Tourneau Bucherer’ and eventually rebranding completely; solely to Bucherer. What was once called a “possibility” by Bucherer is now becoming reality. Both are storied brands but it seems Bucherer has taken the initiative in expanding its footprint outside of Europe, with Tourneau being the main American target.
Tourneau’s story goes back to in 1900 when the Wexler family opened their first store in Eastern Europe, the very same that still had interest in Tourneau at the time of its acquisition. Between 1924 and 1925 the real Tourneau was opened in New York City by two French brothers who had immigrated from France. They opened a kiosk inside the Berkshire Palace Hotel – which eventually became the well-known Madison Avenue location. 1930 was when the first store was opened by Tourneau, at 49th Street and Madison Avenue, increasing their popularity in the surrounding area and their growth, with more locations in Manhattan. In 1940, the brothers opened a second location across the street from Penn Station.
Tourneau’s flagship TimeMachine store at 57th and Madison in New York City / Credit: National Jeweler
The Wexler family comes back into the mix only in 1975 when they acquired Tourneau and expanded into new markets, specifically south and west in the United States.
In 2005, Tourneau broke a Guinness World Record for having the largest watch store – the Time Dome in Las Vegas. The following year, Tourneau was acquired for more than $300 million USD by a group of investors including the Wexler family, the very same that sold it now to Bucherer – Green Equity Investors IV that is related to Leonard Green & Partners from Los Angeles. And so, here we are again, in 2018 Bucherer acquired the brand, another acquisition in the long history of Tourneau. The strategic move by Bucherer, to ease its entry into the American market, will also result in the end of Tourneau after 121 years.
By: Andres Ibarguen
Read more:
Bates, Rob. “Tourneau Changing Its Name To Bucherer.” JCK Online, June 29th, 2021, https://www.jckonline.com/editorial-article/tourneau-changing-bucherer.
Graff, Michelle. “Tourneau Acquired by European Watch Retailer.” National Jeweler, February 2nd, 2018, https://www.nationaljeweler.com/articles/3926-tourneau-acquired-by-european-watch-retailer.
“Tourneau History.” Tourneau, https://www.tourneau.com/about-tourneau/history.html.
National Jeweler, “TOURNEAU TO CHANGE HANDS IN $300 MILLION DEAL.” Europa Star, September, 2006, https://www.europastar.com/news/1003120758-tourneau-to-change-hands-in-300-million-deal.html.
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