Last Updated on August 24, 2023 by Ch David
This research article delves into Rolex‘s revenue, valuation, growth, customer demography, number of employees, and more.
|Key Stat||Key Info|
|Founder(s)||Hans Wilsdorf & Alfred Davis|
|Owners||Hans Wilsdorf Foundation|
|CEO (current)||Jean-Frédéric Dufour|
In 2022, Rolex’s brand value reached $8.3 billion, compared to $7.94 billion in 2021 and $7.9 billion in 2020.
In 2022, Rolex’s revenue was $9.7 billion, compared to $13 billion in 2021, $5.1 billion in 2020, $6 billion in 2019, $11.6 billion in 2018, and $4.6 billion in 2017.
Rolex produces approximately 1 million watches annually, with a reported output of 1.24 million timepieces in 2021. The brand’s commitment to precision and top-notch craftsmanship justifies their relatively high but controlled production volume.
In 2021, the Classic collection accounted for 54.6% of all Rolex watches, while the Professional collection comprised the remaining 45.4%. The Daytona had the highest proportion among the Professional collection, closely followed by the Submariner and GMT-Master. In contrast, the Datejust model significantly surpassed all other models within the Classic collection. The Cellini line had the lowest production volume, aligning with Rolex’s emphasis on sports and tool watches.
Below is a table summarizing the production share of each collection:
|Collection||Watches Included||Production Share|
|Classic||Datejust, Day-Date, Oyster Perpetual, Sky-Dweller, and Cellini||54.6%|
|Professional||Submariner, GMT-Master, Daytona, Yacht-Master, Sea-Dweller, Air-King, Explorer, and Milgauss||45.4%|
Rolex offers a wide range of watch models, organized into 13 different collections:
Each collection includes a variety of models with distinct designs, functions, and features, catering to different tastes and preferences of customers.
Rolex is renowned for crafting some of the most sought-after watches globally, and in 2023, GQ highlighted the top 10 rated Rolexes that have captivated enthusiasts and collectors alike.
The list includes iconic models such as the Rolex Oyster Perpetual, Explorer/Explorer II, GMT-Master II, Datejust, Day-Date, and Daytona.
For divers and adventurers, the Submariner and Yacht-Master are popular choices, while the Sky-Dweller offers an innovative dual time zone function.
Completing the lineup is the elegant Air-King, with its aviation heritage. These highly-rated Rolex watches are admired for their exceptional craftsmanship, heritage, and style. They are the ultimate statement piece for watch enthusiasts worldwide.
As of 2022, Rolex has a worldwide network of 1816 authorized retailers in 118 countries. The United States, France, Great Britain, Germany, and Italy have the highest number of official Rolex retailers, making them prominent hubs for luxury watch enthusiasts.
This extensive global presence reflects the brand’s widespread appeal and popularity among watch enthusiasts and collectors around the world.
Source: Millenary Watches
With a 25% market share, Rolex commands a strong position in the watchmaking business. It is tied for first place with Swatch Group, with each company controlling a quarter of the market.
Richemont is second with 10%, followed by Fossil Group and Patek Philippe, each with 5%. The remaining 30% is divided among different watch companies.
Rolex’s substantial market presence demonstrates the brand’s success and attraction among customers and collectors all over the world.
The most expensive Rolex ever sold is Paul Newman’s Rolex Daytona, which sold for an astounding $17.75 million at Phillips Auction House in New York at a historic auction in 2017.
This amazing timepiece has become famous in the watch-collecting world and is a testament to Rolex watches’ enduring value and distinction.
The typical Rolex price varies greatly according to the model, materials, and other aspects. New Rolex watches can cost anywhere from $7,000 to several hundred thousand dollars.
Rolex’s classic and popular models, including the Rolex Submariner, Datejust, and Oyster Perpetual, often fall in the lower to mid-range of this price range.
Limited-edition or rare vintage Rolex watches, on the other hand, can command much higher prices and can even fetch millions at auction. When choosing a Rolex, it’s critical to consider personal preferences, style, and budget, as there are selections to meet a wide range of likes and budgets.
Source: Wrist Advisor
The cheapest Rolex watches are generally from the Oyster Perpetual collection. Starting at around $5,000 to $10,000 for some entry-level models from the Oyster Perpetual collection.
These watches are known for their classic and timeless design and are often more affordable compared to other Rolex models.
However, please note that prices for Rolex watches can vary based on factors such as location, model, condition, and market demand.
Source: Wrist Advisor
A Rolex watch takes approximately a year to create, from the initial design and engineering stages to machining, polishing, assembling, and testing. Every component of the watch, such as the movement, case, dial, and bracelet, is carefully crafted and subjected to stringent quality control measures to ensure the highest level of precision and reliability.
The manufacturing time for a Rolex watch varies depending on the model and its complexity. Rolex watches are highly regarded for their meticulous craftsmanship and attention to detail, with each one being handcrafted by skilled watchmakers.
Source: Luxe Watches
Rolex’s customer base is predominantly male, accounting for approximately 67.83% of the audience visiting rolex.com. However, the brand also attracts a significant female audience, making up around 32.17% of its customers.
This data reflects the brand’s appeal to both men and women, showcasing its widespread popularity among diverse demographics.
A UK survey reveals that the average age of Rolex owners is 68, indicating that the majority of customers are retirees. However, the age distribution of website visitors is different.
The following age groups are observed among website visitors:
|18 – 24||19.97%|
|25 – 34||31.10%|
|35 – 44||20.53%|
|45 – 64||14.26%|
|55 – 64||8.83%|
These figures suggest that while most Rolex owners are older, the brand’s website attracts a diverse range of age groups, with a significant percentage of visitors falling within the younger age brackets.
This indicates that Rolex’s online presence appeals to a broader audience beyond its traditional customer base.
This statistic provides insight into the ownership of Rolex watches among Americans based on their average monthly net income in 2018. The results reveal that individuals with higher average monthly net income are more likely to own Rolex watches.
The percentage of Rolex ownership decreases as the income range decreases, with the lowest reported percentage at 13.86% for individuals earning between $3,000 and $4,000.
This data indicates a relationship between income level and Rolex ownership among the surveyed American population in 2018.
Below is a breakdown of Rolex ownership by income range:
|Monthly Income Range||Distribution|
|More than $10,000||26.03%|
|Between $9,000 and $10,000||17.78%|
|Between $8,000 and $9,000||28.13%|
|Between $7,000 and $8,000||33.33%|
|Between $6,000 and $7,000||30.86%|
|Between $5,000 and $6,000||24.72%|
|Between $4,000 and $5,000||15.79%|
|Between $3,000 and $4,000||13.86%|
|Between $2,000 and $3,000||19.64%|
Rolex takes a subtle yet impactful approach to advertising its watches, focusing on prestige and exclusivity. The company’s marketing strategy revolves around promoting exclusivity and prestige through strategic sponsorships, partnerships, and high-profile events.
Rolex aligns itself with prestigious sports such as tennis, golf, yachting, motorsports, and equestrianism, as well as iconic personalities.
The company maintains an air of exclusivity through limited digital marketing and curated social media content that highlights its craftsmanship and heritage.
Print advertisements in reputable publications further enhance their image as a symbol of success and achievement.
Rolex was founded by Hans Wilsdorf in 1905. At 24 years old, he established a company in London specializing in timepiece distribution and had a vision of creating elegant and reliable wristwatches, setting the foundation for the iconic brand we know today.
Rolex is a privately held company, and its ownership is not publicly disclosed.
Although the Hans Wilsdorf Foundation holds ownership of Rolex, the exact identity of the current owner or owners is not widely known.
|Jean-Frederic Dufour||CEO / President|
|Luca Bernasconi||CEO and President, Rolex Watch U.S.A.|
|Thierry Penet||SVP, Corporate Software Solutions|
Source: The Org
|Rolex Acacias (HQ)||Rue François-Dussaud 3-5-7, 1211, 26 Genève, Switzerland|
|Rolex Plan-les-Ouates||Chem. du Pont-du-Centenaire 113, 1228 Genève, Switzerland|
|Rolex Chêne-Bourg||Rte de Jussy 15, 1225 Chêne-Bourg, Switzerland|
|Rolex Bienne||David-Moning-Strasse 9, 2504 Biel, Switzerland|
Rolex is a prominent luxury watchmaker with an estimated total of 5001 to 10000 employees worldwide. In its Spanish division, Rolex España S.A., the number of employees has varied slightly over the years, with 58 employees in 2021, 59 employees in 2020, and 62 employees in 2010.
|Year||Number of employees|
Rolex has a team of watch creators who are involved in the production and assembly of their timepieces. Each Rolex watch is carefully crafted and assembled in Switzerland.
More than 2000 people are employed by Rolex at its Bienne site to produce the movements for their watches.
Source: Luxe Watches
Rolex focuses primarily on crafting luxury wristwatches known for their precision and craftsmanship.
In addition, Rolex offers a select range of accessories and merchandise, which includes:
It’s essential to note that Rolex remains committed to its primary focus of crafting luxury watches, and its accessory and merchandise offerings are relatively limited compared to other luxury brands.
Rolex has announced the release of a new lineup of watches in 2023, which is expected to excite watch enthusiasts and collectors.
The anticipated releases include the iconic Cosmograph Daytona, 1908, Yacht-Master 42, Sky-Dweller, GMT-Master II, Explorer 40, Oyster Perpetual, and Day-Date 36.
These new releases are expected to showcase the brand’s commitment to innovation, craftsmanship, and timeless elegance as Rolex continues to push the boundaries of watchmaking excellence.
Rolex usually unveils its latest watches and announces its novelties at the “Baselworld” watch fair, which used to be held in Basel, Switzerland, in late March or early April each year.
However, the historic and iconic Baselworld watch fair has been replaced by Watches and Wonders. In 2023, Rolex unveiled its new watch in March at Watches and Wonders.
Rolex is planning a significant expansion in Switzerland with a $1 billion investment. The company intends to construct a new watch-making facility in Bulle, which has the potential to generate approximately 2,000 job opportunities.
Reports indicate that the deal for this expansion is expected to be signed next month, demonstrating Rolex’s dedication to advancing growth and innovation in the watch industry.
Yes, there is often a waiting list for new Rolex watches. Due to the high demand and limited production capacity, some popular Rolex models can be difficult to obtain directly from authorized dealers.
As a result, customers may have to join a waiting list to secure their desired timepiece.
The waiting lists can vary in length, and it is not uncommon for certain Rolex models to have extended wait times, especially for highly sought-after limited editions or newly released models.
|Air-King||6 to 12 months|
|Datejust||3 to 12 months|
|Day-Date||Over 3 years|
|Daytona||Over 5 years, occasionally much longer|
|Deepsea||Over 2 years|
|Explorer I||6 to 18 months|
|Explorer II||1 to 2 years|
|GMT-Master II||Over 5 years, occasionally much longer|
|Milgauss||6 to 12 months|
|Oyster Perpetual||6 to 12 months|
|Sky-Dweller||Over 3 years|
|Submariner||1 – 2 years|
|Yacht-Master||6 to 18 months|
|Yacht-Master II||6 to 18 months|
The waitlist for the Rolex Daytona in 2023 is expected to be quite long, possibly lasting at least 5 years.
The demand for this iconic timepiece is incredibly high, leading to extended waiting periods for customers looking to purchase one.
Source: Chrono Hunter