Business · Companies · 1 day ago
Bucherer replaces manager of its flagship store in Lucerne
Beat Schmid has left his job leading Bucherer’s flagship store at Schwanenplatz in Lucerne, Switzerland.
He had been at Bucherer for 10 years after moving from rival jeweller Gübelin.
Jessica Ternes, who joined Bucherer in September, is taking over as managing director.
The change happened sooner than planned: Schmid was expected to stay in the role until the end of the year and then work on internal projects.
His departure comes amid staff departures and layoffs at Bucherer, as well as problems with a major IT project.
Schmid had faced allegations about his management, including claims that some customers received preferential access to Rolex watches.
Bucherer said earlier that it took the allegations seriously, but cited privacy when asked for more details.
The sources do not say what Bucherer plans to do next about the allegations or staff changes.
Bucherer has replaced Beat Schmid as head of its flagship store at Schwanenplatz in Lucerne.
Jessica Ternes, who joined Bucherer in September, is taking over the role.
Schmid was initially expected to stay in the post until the end of the year and then work on internal projects.
The report links the accelerated departure to staff departures and pressure over allegations about Schmid’s management and customer treatment.
Bucherer did not immediately respond to a request for comment, according to the report.
- Who
- Bucherer replaced store head Beat Schmid with Jessica Ternes.
- What
- Ternes is taking over the company’s flagship store in Lucerne.
- When
- Schmid’s last day was Friday, according to the report published on October 10, 2026. Ternes joined Bucherer in September.
- Where
- Bucherer’s flagship store at Schwanenplatz in Lucerne, Switzerland.
- Why
- The report says the change was accelerated amid staff departures and pressure over allegations concerning Schmid’s management and allocation of Rolex watches.
This story does not have two clearly opposing sides.
The protection of privacy and personal data
Schmid moved from competitor Gübelin to Bucherer, according to the report.
A whistleblower reported allegations about the allocation of Rolex watches to a luxury car dealer.
Bucherer’s spokesperson said the company took the case seriously and cited privacy and personal-data protections.
Bucherer management told staff that Schmid would leave.
Schmid had his last day, according to the report.
Ternes joined Bucherer after leaving the Tourismus Forum Luzern.
- Outgoing store head
- Beat Schmid
- Incoming store head
- Jessica Ternes
- Flagship location
- Schwanenplatz, Lucerne
- Schmid’s Bucherer tenure
- 10 years, after moving from Gübelin
- Reported Rolex allocation
- 53 watches to a luxury car dealer over 10 years, according to a whistleblower
- Company purchase limit
- A maximum of two Rolex watches per customer per year, according to the report
Sources
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