Traditional watchmaker Beyer in Zurich is closing – Patek Philippe is taking over
Beyer, Switzerland’s oldest and arguably best-known watch retailer, which has been continuously family-owned since its founding in 1760, will cease operations at the end of December 2026. However, business will continue on Zurich’s Bahnhofstraße: Patek Philippe will take over the premises and operate a monobrand store there starting in early 2027.
Succession settled early
It was only about a year ago that René Theodor Beyer, known as the “Watch King of Zurich,” passed away at the age of just 61. However, he had already made arrangements for his succession long before his death.
Since there was no succession plan within the family, sole owner René Theodor Beyer and the Geneva-based watchmaker Patek Philippe concluded that a takeover by the long-established Swiss company was in the best interests of both parties.
Partnership with Patek Philippe
The solution is based on a partnership between two family-owned companies that has developed over decades and spanned generations. Patek Philippe had already begun gradually acquiring a minority stake in Beyer Chronometrie AG as early as 2024.
Since René Beyer fell ill, his sister Muriel Zahn-Beyer took over the day-to-day management of the company in 2024 at his request. Following her brother’s death, she continues to consistently implement the succession plan he established in her role as Chair of the Board of Directors.
Muriel Zahn-Beyer says: “My brother gave serious thought to the future of the company at a very early stage. The arrangement with Patek Philippe was, for him, the logical outcome of a partnership that had developed over decades and an expression of his commitment to the company, its employees, and the Zurich location.”
The future of the watch museum remains uncertain
The Beyer Watch Museum, which houses one of the world’s most significant watch collections in the store’s basement, is not part of the transaction. The museum is a major cultural and tourist attraction. Muriel Zahn-Beyer is currently working on a viable solution for its future at a different location, preferably in the city of Zurich.
Patek Philippe President on the Beyer Acquisition
In an interview with the NZZ, Patek Philippe President Thierry Stern said at Watches & Wonders 2026: “We knew that René didn’t have any children, and we had been discussing a possible takeover for years. Zurich is a key location for us—so in that sense, the move makes sense. But if Beyer hadn’t been looking for a successor, it might never have come to this.”
The purchase was also an emotional decision: “The Beyers are practically family to us. I grew up with René; we were close friends, and so were our fathers. It was important to us that the business didn’t go to just anyone.”
Impact on specialty retailers
However, Stern emphasizes in an interview with the NZZ that the company will not turn its back on its retail partners: “We are not following Rolex’s path with Bucherer and becoming a retailer ourselves. Our focus remains on watchmaking. At the same time, I have always told our retailers that we reserve the right to seize opportunities.”
This could now directly affect Gübelin. The store with the Patek Philippe concession is located right next to the future Patek Philippe store in Zurich. When asked whether there is room for two retailers there, Stern said: “Gübelin is directly across from our future salon. In such a small area, that hardly makes sense. (…) The future of our partnership with Gübelin in Zurich is currently under discussion; therefore, there is no decision yet that we can announce.”
