In the world of luxury wristwatches, Rolex is the most recognizable name. Geneva is its headquarters, but it has over 4,000 watchmakers in over 100 countries. In 1926, the company invented the world’s first waterproof watch.
There are many endorsements by Rolex in the sports world, including golf, tennis, motor sports, and yachting. Rolex watches are marketed by several high profile athletes, including Phil Mickelson, Tiger Woods, Lindsey Vonn, and Roger Federer. Approximately 800,000 Rolex watches are made every year.
|Founded||1905 in London, United Kingdom|
|Rolex at Amazon||Rolex|
|Rolex net worth||$7.9 Billion (Last Updated 2022)|
Rolex net worth
Rolex brand’s exact net worth as of 2021 is unknown; however, in 2020, the brand was valued at approximately 7.9 billion U.S. dollars. According to its 2018 valuation, the brand was worth 6.4 billion U.S. dollars.
The early history
In 1905, Hans Wilsdorf and Alfred Davis established the ‘Wilsdorf and Davis’ company, which later became Rolex SA in London, England. As part of Wilsdorf and Davis’ business, Hermann Aegler’s Swiss movements were imported to England and placed in Dennison and other watch cases. Jewellers bought these early watches and engraved their names on the dials. Inside the caseback of the earliest Wilsdorf and Davis watches was usually inscribed “W&D”.
A trademark “Rolex” was registered by Wilsdorf in 1908, which has become a brand name for watches from Wilsdorf and Davis. A new office was opened in La Chaux-de-Fonds, Switzerland. Willsdorf wanted a name that could be effortlessly pronounced worldwide and that would fit easily on the face of a watch. Also, Rolex sounded like a watch winding, so he thought it was onomatopoeic.
Hans Wilsdorf Foundation owns Rolex SA, which is operated as a non-profit and is not subject to corporate income tax. The Rolex company refused to provide proof of the charitable contributions Wilsdorf Foundation made in 2011, a fact that sparked many scandals due to its lack of transparency. It is reported that the company has given two housing buildings to Geneva’s social institutions, among other things.
The Rolex watch continues to be considered a status symbol. The company produces more than one million timepieces annually. There is a saying:
“The power of the Crown is never more felt than when trying to negotiate space in a retail environment for the product of another brand”.