Rolex is a Swiss watchmaking and jewelry company that was founded in 1905. It has been a leading brand in the field of luxury watches for over 100 years. Rolex is also one of the most expensive brands with prices ranging from $ 5,000. to over $ 1 million for a watch! They are known for their quality, durability and innovation – they were the first to create the automatic winding mechanism. Today we are going to talk about how Rolex became such a big name in fashion and why they have stayed on top from day one!
Rolex was founded by Hans Wilsdorf and Alfred Davis in 1905. The company released its first Rolex watch, the Oyster, in 1926, which featured an automatic winding mechanism. Thanks to this innovation, they have managed to change the way watches are made forever! In 1933, the company released another groundbreaking model called “Perpetual” – a wristwatch that not only kept time but also controlled dates. For this purpose, a rotating ring with numbers around the circumference was used, marked in increments of 0 to 36, both for days and months (eg IIII). This allowed its wearers to immediately determine the date or day without having to remember math formulas or look at the calendar !!!
In the 1950s, a new generation of Rolex models appeared. These included the Datejust (an auto-changing date watch), the Submariner (the first diving watch) and the Explorer II (mountain climbing).
Rolex has always been at the forefront of innovation that made watches more accurate – it is known as the “presidential watchmaker” because so many US presidents have worn their products! Today, some people only wear them because they are expensive, and not because of what’s under the hood.
While it is not known how much money Rolex makes each year from sales or profits, we can imagine it by looking at their stock price information – according to Yahoo Finance, on April 24, 2017, the stock was worth $ 5.00 per share.
The future of the Rolex brand is unknown as it is a private company and information about the inner workings of a Rolex is hard to come by.