Rolex Will Skip Watches and Wonders Shanghai

(Image credit: Watches and Wonders)

Geneva's annual fair Watches and Wonders is struggling to get enough brands to invest in a big event it is planning in Shanghai at the end of August. Last year, some 14 brands participated. This year, the number is expected to drop to around nine, of which eight belong to Richemont.

Rolex will not attend the Shanghai edition of Watches and Wonders though Rolex CEO Jean-Frédéric Dufour chairs the fair’s foundation. (Cartier CEO Cyrille Vigneron serves as its vice-chairman, and Cartier will be present at the fair.)

China is no longer the Eldorado that once powered the luxury watch industry. According to the Federation of the Swiss Watch Industry, exports to China dropped -18% in the first half of 2024, when compared to the same period in 2023, while exports to other countries in the region — Japan, South Korea, Taiwan, Singapore — went up. Exports to South Korea jumped +17.3%, five times more than the U.S.’s.

Hong Kong was not spared by the slump, as Swiss watch exports to the Chinese city dropped a staggering -19.2%.

Rolex's New Wimbledon Video Will Focus on Heritage

Rolex will release a new Wimbledon video on its social media channels next week, as the brand marks almost half a century of sponsoring the oldest tennis tournament in the world.

Rolex’s new video, which contains shots of Rolex Testimonee Carlos Alcaraz, winner of last year's edition, will urge the viewers to “Respect [the tournament’s] heritage, bow to its majesty, honor the legend, uphold the discipline, don't change the rules, change the game.”

The clip contains shots of previous Wimbledon winners and ambassadors of the brand — Rod Laver, Björn Borg, Chris Evert, Stefan Edberg, Roger Federer — and finishes with a Wimbledon-dial Datejust on Oyster bracelet.

In a Discreet Move, Rolex to Invest in Tech Start-Ups

A new foundation announced at the Swiss Economic Forum earlier this month has an unlikely backer: Rolex.

The Deep Tech Nation Switzerland Foundation, which is also backed by Swisscom, UBS and Sicpa, wants to injects 50 billion francs into Swiss tech start-ups, as a lack of venture capital in the country — and in Europe in general — hinders innovations from scaling up and succeeding on a global scale.

Switzerland's 2,500 start-ups, which employ 30,000 people, are currently financed at 80% by foreign investments. The new foundation backed by Rolex wants to double the capital available from 2.5 billion to 5 billion francs per year until 2030.

Except for a small Rolex logo on the foundation’s website, Rolex’s involvement is discreet, and no press releases were issued by the watchmaker — a sharp contrast from its sponsorships elsewhere, as recorded in these pages.

After the U.S. Open in golf ended last week, a championship sponsored by Rolex and won by a Rolex Testimonee, the brand is gearing up for one of its most conspicuous sponsorships of the year: Wimbledon.

Rolex Updates Digital Wallpapers With 2024 Collection

(From Rolex.com)

Rolex has updated the watches of its digital wallpapers, which are available for download on the brand’s website.

The new wallpapers include the steel GMT-Master II in black and grey, the platinum Cellini, the yellow-gold Deepsea, the Sky-Dweller on Jubilee, and the ombré-dial Day-Date, which was first made public at the Oscars.

The wallpapers can be used for phones or computers — with formats available at 1170x2532 px, 1920x1080 px and 2048x1536 px.

Unfortunately, some previous wallpapers, like the platinum Daytona or the two-tone GMT-Master II, are no longer available for download.

Move Over Daytona, There's a New King of Sports Rolex

(Data: WatchCharts)

It's been a year since the Yacht-Master 42 in titanium has been released, and the watch continues to register the most value retention of all professional Rolex models currently in production, including the steel Daytona and GMT-Master II Pepsi.

Given the titanium Yacht-Master's retail price of $14,050 and market price of $34,276, the Rolex 226627 has a value retention of +144.0%, compared to +117.1% for the Panda Daytona. That's according to the latest data available from WatchCharts.

Last week, Roger Federer donned a Yacht-Master 42 in titanium with his three-piece suit — not a Daytona, as he is often seen with — to attend the première of a documentary about his final tournament, “Twelve Final Days.”

Winners of Le Mans Won't Be Awarded a Rolex 'Le Mans'

(Photo credit: Motorsport)

On June 15th at 4.00 p.m. local time, 186 drivers across 62 cars will contest motor sport’s legendary race against the clock, the 24 Hours of Le Mans.

Rolex, which has supported the French race since 2001, uploaded a one-minute clip Saturday. And though the video features a two-tone Daytona, it’s not the watch that will be awarded to the triumphant drivers gracing the podium, we've been told.

It won't be the Rolex Daytona “Le Mans” either — which comes in precious metal only — but the black-dial Daytona in steel, reference 126500LN, the same model that’s been awarded to drivers last year.

Rolex Reaches Tennis Summit Again

(Photo credit: Rolex & Jannik Sinner’s Instagram)

Jannik Sinner, a 22-year-old brand ambassador for Rolex, has become the No. 1-ranked tennis player in the world dethroning Novak Djokovic who has held that spot for 428 weeks in his career.

Sinner, the first Italian to become No. 1 in tennis, was wearing a two-tone Rolex GMT-Master II on Tuesday, when he was awarded the ATP World No. 1 trophy by the association.

Rolex holds both top spots in tennis now that Sinner and female player Iga Świątek are ranked first. Rolex has been recruiting players increasingly young, as these pages reported, sometimes in their teens. When Sinner was signed by Rolex, in early 2020, the 18-year-old Italian had never reached past the second tour of any Grand Slam tournament.

Rolex's position at the peak of tennis seems secure, at least for a while, as the No. 2 spots for both men and women — Carlos Alcaraz and Coco Gauff — are also Rolex Testimonees in their early twenties.

Rolex's Real Estate Empire Grows... in Subsidized Housing

The first two buildings in this rendering were bought by Rolex. (Image credit: Favre et Guth SA)

Rolex’s real estate arm has acquired two apartment buildings out of the five that are projected to be built in Lancy, Switzerland, near Geneva, a 33-million-franc investment, according to la Feuille d’Avis Officielle, Geneva’s public notices.

Rolex's real estate portfolio has been well documented, including in these pages. The acquisition in Lancy is the latest sign the Hans Wilsdorf Foundation, a non-profit organization and the sole owner of Rolex SA, still has millions to park despite the projected decline in the Swiss watch industry and Rolex’s upcoming 1-billion-franc tab for a fifth facility slated in Bulle.

Still, if Rolex watches appear more luxurious than ever, its real estate empire provides an interesting contrast. In 2022, the Crown bought three hotels and turned them over to a group of charities to help the unhoused. For this acquisition in Lancy, only 10% of the apartments will be condos for sale while the majority will provide government-subsidized housing: 60% of the apartments will be rent-free; 30%, low-rent.

Rolex Reshuffles Leadership After Employee Complaints

(Photo credit: Rolex)

Rolex said it has reshuffled the department which oversees warranty care worldwide after employee reports of harassment at the “highest level” prompted the brand to cancel job contracts, a rare peek inside the watchmaker's employment practices.

“After noticing a breakdown in one of its services, Rolex immediately took the necessary measures to put an end to the situation,” a spokesperson at Rolex said. “The measures taken led to contract terminations at different levels of the hierarchy, including at the highest, and resulted in the complete reorganization of the service in question.”

According to Unia, the largest labor union in Switzerland, Rolex employees who work at the World Service department had reported a drop in work conditions — prompting some to quit, go on sick leave or retire early — after a change in leadership in 2016.

Still, the union said Rolex had been good to communicate with. “Rolex SA, signatory of the watchmaking CCT [Labor Collective Agreement], has provided a stable social partnership, one that has even improved in recent years in Geneva,” Unia said.

What a Weekend for Rolex

Rolex is more omnipresent in sports than ever, the latest sign the brand’s long-term marketing strategy to be the mark of success — as it breaks record earnings — seems to be paying off.

In a Grand Slam tennis tournament sponsored by Rolex, both Men's Singles and Women’s Singles were won this weekend by Rolex ambassadors, raising trophies with a Daytona and a Datejust, respectively.

Meanwhile, the No. 1 golf player in the world, Scottie Scheffler, a Rolex ambassador, logged his 5th PGA Tour win of the season, also wearing a Datejust, in an event attended by legendary player Jack Nicklaus, a Rolex ambassador for more than five decades.

Jamie Chadwick, a 26-year-old car racer recruited by Rolex two years ago, won the Grand Prix of Road America also on Sunday, the first woman to win an INDY NXT road race since 2010. Rolex ambassador Kent Farrington logged his first victory in the CSIO Jumping International de La Baule, an event sponsored by the brand.

And that’s just for this weekend. The world’s leading monohull yacht racing circuit, the 52 Super Series, began Monday, an event sponsored by… you guessed it… Rolex.

New Discovery Reveals Mystery Rolex in Hands of Founder

(Photo credit: Jake’s Rolex World)

A mystery Rolex featured in a famous photo of Rolex founder Hans Wilsdorf was finally identified. The discovery was made by Jake Ehrlich of Jake’s Rolex World after coming across a 1943 edition of the Revue Internationale de l'Horlogerie.

The Rolex reference 4257 — a ghost if you research it on the internet — has a design so bizarre that Rolex has altered the famous photo and replaced the watch in the hands of its founder in “The Man Behind the Crown” video released last November.

(Screenshot from Rolex.org)

Rolex 4257 features a wavy bracelet that contains a small square dial concealed by a clasp, as seen on page 23 of the Revue Internationale de l'Horlogerie from 1943.

Rolex Reveals Details of Bulle Project

(Image credit: Rolex)

Rolex has revealed new details ahead of an application for a building permit published Friday in the Feuille officielle du canton de Fribourg, including the first rendering of the project, which is estimated to top one billion Swiss francs.

No fewer than eleven cranes will be used to build the new manufacture, Rolex’s fifth, in Bulle, Switzerland, a project that will be completed in phases by 2030. The manufacture will span 380 meters, or 415 yards. Rolex said the idea is to give it a “campus feel.”

All four buildings will be used for production and be connected for “administration, support, catering, meeting and rest areas,” Rolex said. At the southern tip, a fifth building will house the main entrance to the site.

Rolex will also set up a system to collect and treat rainwater for the grounds; no drinking water will be used for the 32,000 square meters [7.9 acres] of landscaping planned. The brand will also add 2,750 square meters [0.7 acres] of “wet surface friendly to amphibians.” Rolex will plant 500 trees, and all roofs will be equipped with solar panels.

Rolex Readies Video Launch for World Oceans Day

(Credit: Rolex)

Rolex will release a new video on its social media channels for World Oceans Day on June 8.

The 1:17 video will highlight explorers and oceanographers leading the discovery and protection of the seas — and Rolex's involvement to support them. The video, which opens with Trieste’s deepest dive in 1960, will emphasize how the brand has switched from supporting exploration projects for the thrill of discovery to one for the protection of the planet.

“As we discovered more, we found a greater purpose: not only to explore but to protect,” Rolex said in the video.

Stallone's Rolex Sells for Nearly $100K

(Image credit: Sotheby’s)

Sylvester Stallone's Rolex has exceeded experts’ expectations. As reported in these pages, the Academy Award-winning director and actor is letting go of his collection, including a 2016 olive-green-dial Rolex Day-Date in rose gold with "SLY" engraved on the caseback.

Auction house Sotheby's estimated Stallone’s timepiece to go from $25,000 to $50,000. But it sold for almost double that — $96,000 plus auction fees, the latest sign watch provenance still wields power at auctions.

“This watch provided hours and hours of joy,” Stallone said in a video by Sotheby's.

Swiss Watch Exports 'Surprisingly Strong'

(Photo credit: Jake’s Rolex World)

The monthly statistics presented Thursday by the Federation of the Swiss Watch Industry surprised luxury experts. The decline recorded in the first quarter did not continue in April. Watch exports for April are up 4.3% compared to the same month in 2023.

At the opening of Watches and Wonders last month, Rolex CEO Jean-Frédéric Dufour predicted 2024 would “be a challenge. A phase in which all manufacturers were doing well is coming to an end,” Dufour told Swiss newspaper NZZ.

Jean-Philippe Bertschy, a luxury goods analyst at Vontobel, a private banking and investment management group based in Zurich, said in his morning notes on Thursday: “The April statistics turned out to be surprisingly strong, at +4.5%. We expected a decline of 10%.”

China was the only one of the top ten export markets to show a drop, at -7.5%, a decline that was less than expected. The Swiss leading market, the United States, was up a robust 11.6% year-over-year. Japan registered the highest increase of all markets, at 13.6%.

In New Louis Vuitton Ad, Roger Federer Sports Rolex

(Photo credit: Annie Leibovitz/LV)

Tennis legend and Rolex brand ambassador Roger Federer rocked a Rolex Daytona next to Rafael Nadal during Louis Vuitton’s latest ad campaign shot by renowned photographer Annie Leibovitz.

The newly released campaign features the tennis champions in a “rare off-the-court pairing, ascending to the summit of Italy’s Dolomites mountain range,” according to Louis Vuitton. Besides the white-gold Daytona on Federer’s wrist, the tennis players were sporting LV bags.

For the campaign, Nadal and Federer are “not competitors but instead companions for one another on the journey up the mountain — a visual metaphor for their careers,” the luxury brand said. Federer’s meteorite-dial Daytona sits prominently on his wrist while it’s unclear if the Spaniard is wearing a Richard Mille, a brand with which he’s had a partnership.

Kevin Costner Rocks Rolex 'Pepsi' for GQ

(Photo credit: Fanny Latour-Lambert/GQ)

The cover star of GQ’s Summer 2024 issue is Kevin Costner in a bright orange anorak — a callback to the actor’s first appearance on GQ's cover in May 1987 — with a Rolex GMT-Master II ‘Pepsi’ 126710BLRO on the actor’s wrist.

Costner is the first star on GQ's cover to wear a watch since Donald Glover wore a Jaeger-LeCoultre Reverso in April of 2023.

The Rolex GMT is not part of Costner's personal collection, we've been told, just an accessory that accompanied Costner throughout the shoot for the magazine’s main feature, where he’s interviewed about “Horizon,” his latest project.

The Rolex is featured with Costner’s cable-knit cardigan as he’s enjoying a beer and again when he gazes into the Pacific Ocean in a faded crewneck sweatshirt. See more photos here.