The jeweler Kurz comes into new hands. The scepter is taken over by a successful Swiss jewelry entrepreneur who has made a name for herself with her Carat boutiques in the entry-level segment.
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Kurz remains short – even under the new owner.
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The Lucerne jewelry chain Bucherer separates from the Juwelier Kurz AG, which has been in its possession since 1989. The buyer is the Swiss family company IGS, which also operates jewelry stores under the name Carat. The sale is expected to close on September 1, a Monday announcement said.
Other strategic priorities
It was not publicly known that Bucherer was looking for a buyer for Kurz. However, the separation is understandable given the strategic priorities of the group. The company, which is run by the third generation of Jörg G. Bucherer, has rapidly developed into the world’s largest luxury watch and jewelry retailer in the past few years, with 36 locations in Europe and 32 stores in the USA (although not under the Names Bucherer run, but under Tourneau and Baron & Leeds) and a strong mainstay in the booming business with certified second-hand watches.
In this empire, which has 2400 employees, Kurz, with its 8 locations and 130 employees, was just a small fish, which you probably couldn’t and didn’t want to pay enough attention to, especially as Kurz is somewhat positioned among Bucherer, between the commercial and luxury segments.
Self-made entrepreneur with ambitions
This attention should not be missing shortly under the new owner, IGS AG or its sole owner Christine Stucki. IGS, founded in 1989, has developed over the past thirty years into a major player in the entry-level to mid-range segment of the Swiss jewelry and watch market. It counts 30 bijouteries under the Carat brand, which employ around 170 people. The boutiques can be found mainly in shopping centers, with a historically strong focus on French-speaking Switzerland.
The purchase of Kurz enables Stucki to enter a new segment, which the entrepreneur sees as a great opportunity. An opportunity that she also attributes to the corona virus, because without the lockdown she would hardly have taken the time to examine this offer in depth and develop concepts.
Briefly remains as a brand
It is already clear to Stucki that Kurz remains independent from the outside. The jewelry chain is in a first-class position, with shops in prime city locations such as Zurich’s Bahnhofstrasse. Continuity is also planned in terms of leadership: operational management under the new owner will continue to be carried out by today’s managing director Doris Mangari.
However, there will be synergies in the back office area. And when it comes to e-commerce, Kurz, who does not yet have his own online shop, will be able to benefit from the experience IGS has already gained with carat.ch.
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