Montreal-based luxury jeweler Birks Group has made a bold move by acquiring European Boutique, a high-end watch and jewelry retailer in the Toronto area, for C$9 million (about US$6.5 million). Known for housing Omega, Breitling, and Montblanc boutiques, the acquisition strengthens Birks’ presence in key malls across Greater Toronto.
Alongside the deal, Birks secured a CDN$13.5 million loan from SLR Credit Solutions to support both the purchase and ongoing operations. As part of the expansion, Birks will also manage the Canadian brand “Diamonds Direct” through a new licensing agreement—though this brand is not affiliated with Signet’s U.S.-based Diamonds Direct chain.
President Jean-Christophe Bédos emphasized that the newly acquired stores will “complement Birks Group’s offering” by enhancing their luxury brand portfolio.