GENEVA - There’s a new battle of the titans brewing in the world of European luxury. For years, rivalry between Bernard Arnault and François-Henri Pinault propelled the sales of expensive bags, clothes and shoes to ever greater heights. Now Rolex’s acquisition of Bucherer, Europe’s leading watch and jewelry distributor, creates a similar standoff in the world of hard luxury. The deal pits Rolex owner, the Hans Wilsdorf Foundation, squarely against the Rupert family at Richemont and the Hayeks of the Swatch Group. This new combination will have a substantial impact on the global watch industry, and hard luxury generally, for years to come.
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