ucherer has announced its acquisition of the Danish tradition house Klarlund. The takeover took effect on 4 January 2023 and will enable the Bucherer Group to substantially expand its market share in Denmark.

With the acquisition, the Swiss luxury retailer takes over the two boutiques and the service center of the Danish company and as such, gains access to new customer segments. This will comes in addition to the existing clientele in Bucherer’s current established boutique at Copenhagen’s popular Illum department store.

Founded in 1947 by a Danish watchmaker, Klarlund soon established itself as the leading company for watch enthusiasts, collectors and jewellery lovers in Denmark. In 1955, the family-owned business became the first official Rolex retailer in the country. Since 1989, the foundation-owned investment company “Pitzner Gruppen Holding” has been running the successful luxury watch retailer.

Today, Klarlund operates two boutiques in prime locations in Copenhagen with around 70 employees overall. The retailer also runs the largest certified workshop in the Nordics with experienced watchmakers performing services and repairs for all marketed brands. This further underpins Klarlund’s area of expertise in the fields of watchmaking and pre-owned watches.

For Bucherer, the acquisition is an important addition to its existing market presence in Copenhagen. Bucherer currently operates a large boutique in the Illum department store. Klarlund’s state-of-the-art boutiques will enable Bucherer to tap into new customer segments. Having recently introduced its curated “Bucherer Certified Pre-Owned” selections to the Danish market, the Swiss luxury retailer is also fully committed to the large Klarlund watchmaker’s workshop. Another shared passion of the two companies is the jewellery division, where Bucherer draws on a history dating back to its founding years. Needless to say, that Klarlund’s jewellery expertise fits perfectly with Bucherer’s ideas and growth targets in this segment.

“We are happy and proud to welcome Klarlund in the Bucherer family. Klarlund’s history and achievements are impressive and we have the greatest respect for this family-owned company. All the more being a family-run company ourselves and having so many mutual values such as attention to detail and the focus and passion for excellent craftsmanship. Bucherer fully acknowledges the achievements and importance of Klarlund’s employees for its past success and intends to build on the current staff also for the future together. This acquisition fits into our strategy to strengthen our presence in Denmark further and to follow up on our market entry in 2016 with our first boutique at the Illum department store,” said Guido Zumbühl, CEO of the Bucherer Group.

Morten Pitzner, previous owner and chairman of the Pitzner Foundation, stated: “It was important to us to find a new owner whom we share common values with and who understands Klarlund both from a watch and a jewellery retailer’s perspective. With Bucherer, we have found just that. They bring in the expertise and understanding we have been looking for. At Klarlund, tradition and local principles have always been key. With Bucherer, we now have a strong international partner that is still family-run and thus upholds these values.” The two parties have agreed not to disclose the financial details of the transaction.