PARIS — Dickson Poon has quietly ticked off his first acquisition of the year, pocketing the Swiss luxury watch firm Bertolucci.
Charles M. Jayson, president and chief executive officer of Dickson North America, disclosed the transaction to WWD Monday from the Basel Watch Fair and vowed to swiftly expand Bertolucci’s product offering and “redeploy” the business.
“We will fortify the creative and management teams to further build on this world-class women’s brand,” said Jayson, who also becomes chairman of Bertolucci SA, based in Marin, Switzerland, near Neuchatel. Marc Bernhardt continues as chief operating officer.
Terms of the deal were not disclosed. Hong Kong-based Dickson Concepts International Ltd. bought Bertolucci from Andreas Gembler, who acquired the firm from Remo Bertolucci four years ago.
A niche brand, Bertolucci, which is prized for its Italian roots and strong female appeal, is believed to generate wholesale volume approaching $10 million.
Founded in 1987, Bertolucci is perhaps best known for its signature bracelet of links inspired by the pebbles that line Mediterranean beaches. More recently, the brand has made inroads with younger customers with its funky oval-faced Serena style and others, like the new Fascino, with a rectangular face studded with about 100 diamonds.
Bertolucci timepieces retail from $2,000 to $30,000, with an average selling price of around $5,000, Jayson said, adding, “They’re selling very well.”
Poon is extremely familiar with the Bertolucci brand, having sold it for years via his network of Dickson Watch & Jewelry shops in Hong Kong, Taiwan and Southeast Asia.
The brand is distributed internationally via 19 exclusive agents, with the U.S., Asia and the Caribbean ranking as the top markets, Jayson said. Key U.S. retailers carrying the line include Tourneau in New York, Feldmar in Los Angeles, Thalheimers in Florida, Radcliffe in Maryland and Govberg in Philadelphia.
Jayson said an expanded product range, including a bigger selection of jewelry, would be readied for next year’s Basel fair. The plan is to leverage Bertolucci’s Italian flair and luxury positioning “in a modern way,” he added.