IGS AG ANNOUNCES THE ACQUISITION OF JUWELIER KURZ AG
IGS AG announed the acquisition of Juwelier Kurz AG, owned by the Bucherer Group since 1987, effective September 1, 2020.
IGS AG, based in Wollerau and owned by sole shareholder Christine Stucki, now operates throughout Switzerland under the Carat brand with 30 sales outlets as well as e-commerce. Since its launch in 1989, the company has established a strong position in the entry-level to mid-range segment of the jewelry and watch market with a focus on diamonds. The jewellery shops under the Carat brand employ around 170 people in Switzerland.
Juwelier Kurz AG, founded in 1948, had been owned by the Bucherer Group since 1989. Today, it operates stores in eight premium locations in Swiss cities as well as shopping centers and employs some 130 people.
"For IGS, Juwelier Kurz AG represents a unique opportunity for a market presence between the commercial and luxury segments," said Christine Stucki, President and Delegate of the Board of Directors of IGS AG. "The first-class positioned jewellery stores in city locations are an exclusive value and will strategically strengthen our reach in the Swiss market. This acquisition will enable us to integrate a renowned jewellery brand of the best reputation into our Group, thereby further expressing our commitment to high quality. In short, the Swiss "purveyor to the court" for all the important moments in life."
Guido Zumbühl, CEO of the Bucherer Group, commented: "We are delighted to have found in IGS AG a Swiss entrepreneur with a strong vision who will continue to write the history of Juwelier Kurz AG. This step will enable the Bucherer Group to focus even more strongly on the further development of the Bucherer brand".
The operational management of Juwelier Kurz AG will continue to be headed by Doris Mancari, CEO Kurz AG.
The two parties have agreed not to disclose financial details.