Rolex

Rolex Submariner

Alfred Davis and his brother-in-law Hans Wilsdorf founded Wilsdorf and Davis, the company that would eventually become Rolex S.A., in London, England in 1905.[16] Wilsdorf and Davis' main commercial activity at the time involved importing Hermann Aegler's Swiss movements to England and placing them in watch cases made by Dennison and others. These early wristwatches were sold to many jewellers, who then put their own names on the dial. The earliest watches from Wilsdorf and Davis were usually hallmarked "W&D" inside the caseback.

In 1908, Wilsdorf registered the trademark "Rolex", which became the brand name of watches from Wilsdorf and Davis. He opened an office in La Chaux-de-Fonds, Switzerland.[5][16][17] Wilsdorf wanted the brand name to be easily pronounceable in any language, and short enough to fit on the face of a watch.[4][18] He also thought that the name "Rolex" was onomatopoeic, sounding like a watch being wound.[4][18]

In 1914, Kew Observatory awarded a Rolex watch a Class A precision certificate, a distinction normally granted exclusively to marine chronometers.[4][18] In November 1915, the company changed its name to Rolex Watch Co. Ltd.[7] In 1919, Hans Wilsdorf moved the company from England to Geneva, Switzerland because of heavy post-war taxes levied on luxury imports and high export duties on the silver and gold used for the watch cases. In 1920 the company's name was officially changed to Montres Rolex S.A. and later to Rolex S.A.[9][11][16]

With administrative worries attended to, Wilsdorf turned the company's attention to a technical challenge: the infiltration of dust and moisture under the dial and crown, which damaged the movement. To address this problem, in 1926 Rolex developed and produced a waterproof and dustproof wristwatch, giving it the name "Oyster". The watch featured a hermetically sealed case which provided optimal protection for the movement.[19]

Consumers at the time remained skeptical of a fully waterproof watch. As a demonstration, Rolex submerged Oyster models in aquariums, which it displayed in the windows of its main points of sale. In 1927, British swimmer Mercedes Gleitze swam across the English Channel with an Oyster on her necklace, becoming the first Rolex ambassador. To celebrate the feat, Rolex published a full-page advertisement on the front page of the Daily Mail proclaiming the watch's success during the ten hour plus swim.[20]

In 1931, Rolex patented a self-winding mechanism called a Perpetual rotor, a semi-circular plate that relies on gravity to move freely. Its system was the first wristwatch to use a 360° winding rotor and would become the basis of all future automatic watches throughout the industry. In turn, the Oyster watch became known as the Oyster Perpetual.[21]

Upon the death of his wife in 1944, Wilsdorf established the Hans Wilsdorf Foundation, a private trust, in which he left all of his Rolex shares, ensuring that some of the company's income would go to charity. Wilsdorf died in 1960, and since then the trust has owned and run Rolex S.A.[11]

In December 2008, following the abrupt departure of Chief Executive Patrick Heiniger for "personal reasons", Rolex SA denied that it had lost 1 billion Swiss francs (approx £574 million, $900 million) invested with Bernard Madoff, the American asset manager who pleaded guilty to an approximately £30 billion worldwide Ponzi scheme fraud.[22] The company announced Heiniger's death on March 5, 2013.

Rolex SA is owned by the private Hans Wilsdorf Foundation, which is registered as a charity and does not pay corporate income taxes. In 2011, a spokesman for Rolex declined to provide evidence regarding the amount of charitable donations made by the Wilsdorf Foundation.[23] In Geneva where the company is based, it is said to have gifted, among many things, two housing buildings to social institutions of Geneva.[24]

According to the 2017 Brand Z report, the brand value is estimated $8.053 billion.[5] Rolex watches continue to have a reputation as status symbols.[25][26][27][28] It produces more than 800,000 timepieces each year.[1] It is said that "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".[29]

Wristwatch Tudor Prince Date Day, Ref.: 76200

Rolex SA offers products under the Rolex and Tudor brands. Montres Tudor (SA) has designed, manufactured and marketed Tudor watches since 6 March 1946.[30] Rolex founder Hans Wilsdorf conceived of the Tudor Watch Company to create a product for authorized Rolex dealers to sell that offered the reliability and dependability of a Rolex, but at a lower price.[31] The number of Rolex watches was limited by the rate that they could produce in-house Rolex movements, thus Tudor watches were originally equipped with off-the-shelf movements while using similar quality cases and bracelets.[32]

Historically, Tudor watches have been manufactured by Montres Tudor SA using movements supplied by ETA SA. Since 2015 Tudor has begun to manufacture watches with in-house movements. The first model introduced with a in-house movement was the Tudor North Flag. Following this, updated versions of the Tudor Pelagos and Tudor Heritage Black Bay have also been fitted with an in-house caliber.[33][32]

Tudor watches are marketed and sold in most countries around the world. Montres Tudor SA discontinued sales of Tudor-branded watches in the United States in 2004, but Tudor returned to the United States market in the summer of 2013 and to the UK in 2014.[34][35]

Among the company's innovations are:

• In 1910, the first watchmaker to earn chronometer certification for a wristwatch.[11]
• In 1926, produced a waterproof wristwatch, Rolex Oyster.[42] But it was far from the first company to do (see, for example, the "Submarine Watch" from the First World War, which was made by Tavannes and retailed by Brook & Son in Edinburgh). Wilsdorf even had a specially made Rolex watch (the watch was called the "DeepSea") attached to the side of Trieste, which went to the bottom of the Mariana Trench. The watch survived and tested as having kept perfect time during its descent and ascent. This was confirmed by a telegram sent to Rolex the following day saying "Am happy to confirm that even at 11,000 metres your watch is as precise as on the surface. Best regards, Jacques Piccard".[11]
• In 1931, a self-winding Rolex wristwatch was offered to the public (the so-called the "bubbleback" due to the large caseback). However, as with so many alleged Rolex "firsts" it was, in fact, not the first and was preceded to the market by Harwood which patented the design in 1923 and produced the first self-winding watch in 1928. This was powered by an internal mechanism that used the movement of the wearer's arm. As well as making watch winding unnecessary, it also kept the power from the mainspring more consistent, resulting in more reliable timekeeping.
• In 1945, introduced a wristwatch with an automatically changing date on the dial (Rolex Datejust Ref. 4467).[18] Again, it was not the first company to do so: Mimo made them in the 1930s -- some twenty years earlier.
• In 1953, released the first wristwatch case waterproof to 100 m (330 ft) (Rolex Oyster Perpetual Submariner Ref.6204, 1953)[43]
• In 1954, produced a wristwatch which showed two time zones at once (Rolex GMT Master ref.6542, 1954)[44] Yet again, it was not the first company to do so, as the Longines DualTime preceded the GMT by a full quarter of a century.
• In 1956, made a wristwatch with an automatically changing day and date on the dial (Rolex Day-Date, 1956)[45]

Rolex watches are frequently counterfeited, and these are often illegally sold on the street and online. Counterfeit Rolex watches vary in quality: some use the cheapest of movements, while others use automatic movements, and some use an ETA movement. O. J. Simpson wore a counterfeit Rolex during his 1994 murder trial.[46][47]

Top 5 gold producing nations

In December 2018, World Wide Fund for Nature (WWF) released an official report giving environmental ratings for 15 major watch manufacturers and jewelers in Switzerland.

There are concerns over the lack of transparency in manufacturing activities and the sourcing of precious raw materials such as gold, which is a major cause of environmental issues such as pollution, soil degradation and deforestation.

Rolex Daytona chronograph stainless steel, white dial (ref. 6263)

• On October 26, 2017, a Rolex Daytona (Ref. 6239) wristwatch, manufactured in 1968, was sold by Phillips in its New York auction for US$17.75 million.[49][50][51] The watch was originally purchased by Joanne Woodward in 1968 and was given by Joanne to her husband Paul Newman as a gift.[52] The auction price set a record at $15.5-million, plus buyer's premium of 12.5%, for a final price of $17,752,500 in New York City.[53] As of 2018, it is the most expensive wristwatch and the second most expensive watch ever sold at auction.[54][51][55] Notably, "[a]t the time that Newman gave the watch to James Cox [as a gift], the watch was selling for about $200."[56][57]
• On May 28, 2018, a Rolex Daytona "Unicorn" Ref. 6265 was sold in auction by Phillips for US$5.937 million in Geneva, making it the second most expensive Rolex timepiece ever sold at auction (as of 2018).[58][59]
• The most expensive Rolex (in terms of retail price) ever produced by the Rolex factory was the GMT Ice reference 116769TBR with a retail price of US$485,350. A Forbes magazine article on the Swiss watch industry compared the retail value of Rolex to that of competing brands Corum, Universal Genève and IWC.[60]

Rolex founder Hans Wilsdorf created the Air-King line to honor RAF pilots of the Battle of Britain, releasing the first model in 1958. By 2007, the 1142XX iteration of the Air-King featured a COSC-certified movement in a 34mm case, considered by some a miniaturized variant of the 39mm Rolex Explorer as both watches featured very similar styling cues; the 34mm Air-King lineup was the least expensive series of Oyster Perpetual. In 2014 the Air-King was dropped, making the Oyster Perpetual 26/31/34/36/39 the entry-level Rolex line. In 2016 Rolex reintroduced the Air-King, available as a single model (number 116900), largely similar to its predecessors but with a larger 40mm case, and a magnetic shield found on the Rolex Milgauss; indeed the new 40mm Air-King is slightly cheaper than the 39mm Explorer (the Explorer lacks the magnetic shield but its movement has Paraflex shock absorbers that are not found in the Air-King's movement).[61][62][63][64][65]

The name of the watch line in catalogs is often "Rolex Oyster ______" or "Rolex Oyster Perpetual ______"; Rolex Oyster and Oyster Perpetual are generic names and not specific product lines, except for the Oyster Perpetual 26/31/34/36/39/41 and Oyster Perpetual Date 34.The Rolex Oyster Perpetual watch is a direct descendant of the original watertight Rolex Oyster watch created in 1926.

Within the Oyster Perpetual lineup, there are three different movements; the 39 features the Caliber 3132 movement with the Parachrom hairspring and Paraflex shock absorbers (the Oyster Perpetual 39 is a less sporty variant of the Rolex Explorer 39mm as they share the same case, same bracelet and buckle, same bezel and same movement, with a different dial and different hands), while the 34 and 36 models have the Caliber 3130 featuring the Parachrom hairspring, and the smallest 28 and 31 models have Calibre 2231.[66][67] The Oyster Perpetual Date 34 (or simply Date 34) adds a date display and date movement, plus the options of a white gold fluted bezel and diamonds on the dial.

Certain models from the Date and Datejust are almost identical, however the Datejust have 36 mm and 41 mm cases paired with a 20 mm bracelet, compared to the Date's 34 mm case and 19 mm bracelet. Modern versions of the Oyster Perpetual Date and Datejust models share Rolex's 3135 movement, with the most recent change to the 3135 movement being the introduction of Rolex's "parachrom bleu" hairspring, which provides increased accuracy. As the Date and Datejust share a movement, both have the ability to adjust the date forward one day at a time without adjusting the time; this feature is not confined to the Datejust. Compared to the Date, the Datejust has a much wider range of customization options, including other metals beyond stainless steel, various materials for the dial, and optional diamonds on the dial and bezel. The Datejust II, which was released in 2009, has a bigger case (41mm diameter) than the standard Datejust and it also features an updated movement, being only available in steel with white, yellow or rose gold on an Oyster bracelet.[68] In 2016, Rolex released the Datejust 41, which has the same 41mm diameter case as the Datejust II, however the Datejust 41 has smaller indexes and a thinner bezel compared to the Datejust II.[69]

Rolex Sea Dweller Deepsea with 3,900 m depth rating (ref. 116660)

Rolex produced specific models suitable for the extremes of deep-sea diving, caving, mountain climbing, polar exploration, and aviation. Early professional models included the Rolex Submariner (1953) and the Rolex Sea Dweller (1967). The latter watch has a helium release valve, co-invented with Swiss watchmaker Doxa, to release helium gas build-up during decompression.

The Explorer (1953) and Explorer II (1971) were developed specifically for explorers who would navigate rough terrain, such as the world-famous Mount Everest expeditions. Indeed, the Rolex Explorer was launched to celebrate the successful ascent of Everest in 1953 by the expeditionary team led by Sir John Hunt.

The 39 mm Rolex Explorer was designed as a "tool watch" for rugged use, hence its movement has Paraflex shock absorbers which gives them higher shock resistance than other Rolex watches.[65] The 42mm Rolex Explorer II has some significant differences from the 39mm Explorer; the Explorer II adds a date function, and an orange 24-hour hand which is paired with the fixed bezel's black 24-hour markers[70] for situations underground or around the poles where day cannot be distinguished from night.

Another iconic model is the Rolex GMT Master (1955), originally developed at the request of Pan Am Airways to provide its crews with a dual time watch that could be used to display GMT (Greenwich Mean Time), which was the international time standard for aviation at that time (and still is) and was needed for Astronavigation during longer flights.[11]

By the start of World War II Royal Air Force pilots were buying Rolex watches to replace their inferior standard-issue watches. However, when captured and sent to prisoner of war (POW) camps, their watches were confiscated.[18] When Hans Wilsdorf heard of this, he offered to replace all watches that had been confiscated and not require payment until the end of the war, if the officers would write to Rolex and explain the circumstances of their loss and where they were being held. Wilsdorf was in personal charge of the scheme.[71][72] As a result of this, an estimated 3,000 Rolex watches were ordered by British officers in the officer camp Oflag VII-B in Bavaria alone.[71] This had the effect of raising the morale among the allied POWs because it indicated that Wilsdorf did not believe that the Axis powers would win the war.[71][73] American servicemen heard about this when stationed in Europe during WWII and this helped open up the American market to Rolex after the war.[18]

On 10 March 1943, while still a prisoner of war, Corporal Clive James Nutting, one of the organizers of the Great Escape, ordered a stainless steel Rolex Oyster 3525 Chronograph (valued at a current equivalent of £1,200) by mail directly from Hans Wilsdorf in Geneva, intending to pay for it with money he saved working as a shoemaker at the camp.[71][73][74] The watch (Rolex watch no. 185983)[74][75] was delivered to Stalag Luft III on 10 July that year along with a note from Wilsdorf apologising for any delay in processing the order and explaining that an English gentleman such as Corporal Nutting "should not even think" about paying for the watch before the end of the war.[71][73] Wilsdorf is reported to have been impressed with Nutting because, although not an officer, he had ordered the expensive Rolex 3525 Oyster chronograph while most other prisoners ordered the much cheaper Rolex Speed King model which was popular because of its small size.[71] The watch is believed to have been ordered specifically to be used in the Great Escape when, as a chronograph, it could have been used to time patrols of prison guards or time the 76 ill-fated escapees through tunnel 'Harry' on 24 March 1944.[71][73][76] Eventually, after the war, Nutting was sent an invoice of only £15 for the watch, because of currency export controls in England at the time.[73] The watch and associated correspondence between Wilsdorf and Nutting were sold at auction for £66,000 in May 2007, while at an earlier auction in September 2006 the same watch fetched A$54,000.[73][75] Nutting served as a consultant for both the 1950 film The Wooden Horse and the 1963 film The Great Escape.[71] Both films were based on actual escapes which took place at Stalag Luft III. It was also reported that in November 2013 the Rolex Speed King owned by Flight Lieutenant Gerald Imeson during the Great Escape was sold for £60,000.[77]

In a famous murder case, the Rolex on Ronald Platt's wrist eventually led to the arrest of his murderer, Albert Johnson Walker—a financial planner who had fled from Canada when he was charged with 18 counts of fraud, theft, and money laundering. When the body was found in the English Channel in 1996 by a fisherman named John Coprik,[78] a Rolex wristwatch was the only identifiable object on the body.[78] Since the Rolex movement had a serial number and was engraved with special markings every time it was serviced, British police traced the service records from Rolex and identified the owner of the watch as Ronald Platt. In addition, British police were able to determine the date of death by examining the date on the watch calendar. Since the Rolex movement was fully waterproof and had a reserve of two days of operation when inactive, they were able to determine the time of death within a small margin of error.[78][79]