Luxury watch and jewellery retailer, Watches of Switzerland, has acquired Roberto Coin Inc., the North America business division of the renowned Italian jewellery brand, for $130 million. The deal was announced Thursday.
Roberto Coin attends the opening of The Roberto Coin Flagship Store In Miami in 2016. (Photo by Alexander Tamargo/Getty Images for DuJour)
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Under the terms of the agreement as revealed by the two companies, Watches of Switzerland (WOS) will have exclusive distribution rights and ownership of the Roberto Coin brand for its North American markets, which includes U.S., Canada, Central America and the Caribbean.
WOS, in its statement, said the acquisition was financed by a $115 million term loan facility.
The acquisition comes two days after the Richemont Group acquired Italian jewelry brand, Vhernier.
Watches of Switzerland Group has 222 retail operations in the U.K., U.S. and Europe. Its U.S. business consists of 47 retail operations and includes fine jewelry retailers, Mayors and Betteridge. It has sold Roberto Coin jewelry in the U.S. for more than a decade.
“As the owner of luxury jewelry retailers including Mayors and Betteridge in the U.S., and Mappin & Webb and Goldsmiths in the UK, the Watches of Switzerland Group has a unique appreciation of the exquisite design and quality of the Roberto Coin product,” said Brian Duffy, CEO of UK-based Watches of Switzerland. “
We look forward to bringing our considerable retail expertise to bear to nurture and grow the Roberto Coin brand. This will be achieved by elevating the brand’s in-store presence, leveraging the Group resources to enhance the brand’s digital presence and online sales, and with the development of a mono-brand network and franchised boutiques with the support of current and new wholesale partners. This is an outstanding brand with significant growth potential.”
Duffy also noted that the acquisition is in line with the company’s growth strategy, saying the trend in the global luxury jewelry market is towards branded jewelry, which made up 27% of the market in 2024, up from 17% in 2019.
The statement adds that the U.S. fine-jewelry market is “by far the world’s largest jewelry market.” Roberto Coin Inc., the brand’s U.S. division, has a strong position in this market, according to WOS research. It has more than 400 points-of-sale with department stores, jewelry chains and independent jewelers. This includes 16 WOS retailers in the U.S. It is the sixth largest jewelry brand in the U.S. by sales at retail value, placing it in the same company as Cartier, Tiffany, Van Cleef & Arpels, Bulgari and David Yurman.
According to the statement, Roberto Coin Inc.’s annual revenue was $146.2 million and profit before taxation of $30.1 million for the financial year ended December 31, 2022. Gross assets were $87.9 million. Preliminary and unaudited revenue for 2023 was $138.7 million and profit before taxation was $30.2 million.
Roberto Coin S.p.A., founded in Vicenza, Italy, in 1996, is co-owned by Roberto Coin, CEO and founder. It is one of the most recognized fine jewelry brands in the world, with operations in 60 countries. The company is known for its ability to balance creative Italian design with commerce.
The statement says Roberto Coin Inc. will continue to operate as an independent, standalone company within the Watches of Switzerland Group. The Coin family will retain a seat on the board of directors of Roberto Coin Inc. and Peter Webster will remain as president of Roberto Coin Inc.
“Today’s announcement marks a significant step change in the development of Roberto Coin Inc., Roberto Coin said in the statement. “The Roberto Coin brand 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 Central and North America.”
