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Shares in Watches of Switzerland dropped more than a quarter on Friday after Rolex, the UK retailer’s main supplier of luxury timepieces, bought rival chain Bucherer. The Watches of Switzerland Group lost a quarter of its value on Friday morning, heading for the stock’s worst day ever, after luxury watchmaker Rolex announced a deal to . It comes after Watches of Switzerland was buffeted last year when Rolex acquired rival watch retailer Bucherer, raising fears that Rolex could sell .
The UK’s biggest seller of Rolex watches lost nearly a third of its value on Friday after the Swiss brand bought Bucherer AG, taking its first major step into retailing.LONDON, Aug 25 (Reuters) - Watches of Switzerland (WOSG.L) shares fell almost 30% on Friday, on course for the biggest one-day drop on record, as Rolex's purchase of retailer . FTSE 250-listed Watches of Switzerland plummeted on Friday on news that timepiece manufacturer Rolex is to enter the retail market. At 510.5p per share, the luxury . Shares in the Watches of Switzerland Group slumped this morning after Rolex bought one of its key rivals, Bucherer. The British retail group – which includes Goldsmiths, Mappin and b and Mayors in the United .
The UK’s biggest seller of Rolex watches lost nearly a third of its value on Friday after the Swiss brand bought Bucherer AG, taking its first major step into retailing. Watches of .
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One of Watches of Switzerland Group Plc’s biggest investors cut its stake in the UK-listed timepiece retailer less than 24 hours after Rolex SA decided to buy a rival, Bucherer . Shares in luxury watch retailer Watches of Switzerland plunged by 25 per cent on Thursday after the company became the latest luxury group to warn on profits. Watches of Switzerland said it had. Shares in Watches of Switzerland dropped more than a quarter on Friday after Rolex, the UK retailer’s main supplier of luxury timepieces, bought rival chain Bucherer. The Watches of Switzerland Group lost a quarter of its value on Friday morning, heading for the stock’s worst day ever, after luxury watchmaker Rolex announced a deal to buy watch retailer.
It comes after Watches of Switzerland was buffeted last year when Rolex acquired rival watch retailer Bucherer, raising fears that Rolex could sell more of its timepieces directly to.
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The UK’s biggest seller of Rolex watches lost nearly a third of its value on Friday after the Swiss brand bought Bucherer AG, taking its first major step into retailing.LONDON, Aug 25 (Reuters) - Watches of Switzerland (WOSG.L) shares fell almost 30% on Friday, on course for the biggest one-day drop on record, as Rolex's purchase of retailer Bucherer.
FTSE 250-listed Watches of Switzerland plummeted on Friday on news that timepiece manufacturer Rolex is to enter the retail market. At 510.5p per share, the luxury watch retailer was 26%.
Shares in the Watches of Switzerland Group slumped this morning after Rolex bought one of its key rivals, Bucherer. The British retail group – which includes Goldsmiths, Mappin and b and Mayors in the United States – saw its share price fall around 28 per cent at one point as investors reacted to Rolex’s acquisition of the Swiss . The UK’s biggest seller of Rolex watches lost nearly a third of its value on Friday after the Swiss brand bought Bucherer AG, taking its first major step into retailing. Watches of Switzerland Group Plc shares fell as much as 30%, wiping out almost £500 million (9 million) in market capitalization.
One of Watches of Switzerland Group Plc’s biggest investors cut its stake in the UK-listed timepiece retailer less than 24 hours after Rolex SA decided to buy a rival, Bucherer AG. Shares in luxury watch retailer Watches of Switzerland plunged by 25 per cent on Thursday after the company became the latest luxury group to warn on profits. Watches of Switzerland said it had. Shares in Watches of Switzerland dropped more than a quarter on Friday after Rolex, the UK retailer’s main supplier of luxury timepieces, bought rival chain Bucherer.
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The Watches of Switzerland Group lost a quarter of its value on Friday morning, heading for the stock’s worst day ever, after luxury watchmaker Rolex announced a deal to buy watch retailer. It comes after Watches of Switzerland was buffeted last year when Rolex acquired rival watch retailer Bucherer, raising fears that Rolex could sell more of its timepieces directly to.
The UK’s biggest seller of Rolex watches lost nearly a third of its value on Friday after the Swiss brand bought Bucherer AG, taking its first major step into retailing.LONDON, Aug 25 (Reuters) - Watches of Switzerland (WOSG.L) shares fell almost 30% on Friday, on course for the biggest one-day drop on record, as Rolex's purchase of retailer Bucherer. FTSE 250-listed Watches of Switzerland plummeted on Friday on news that timepiece manufacturer Rolex is to enter the retail market. At 510.5p per share, the luxury watch retailer was 26%.
Shares in the Watches of Switzerland Group slumped this morning after Rolex bought one of its key rivals, Bucherer. The British retail group – which includes Goldsmiths, Mappin and b and Mayors in the United States – saw its share price fall around 28 per cent at one point as investors reacted to Rolex’s acquisition of the Swiss . The UK’s biggest seller of Rolex watches lost nearly a third of its value on Friday after the Swiss brand bought Bucherer AG, taking its first major step into retailing. Watches of Switzerland Group Plc shares fell as much as 30%, wiping out almost £500 million (9 million) in market capitalization. One of Watches of Switzerland Group Plc’s biggest investors cut its stake in the UK-listed timepiece retailer less than 24 hours after Rolex SA decided to buy a rival, Bucherer AG.
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