(Photo credit: Watches of Switzerland)
Rolex opened last week its largest European boutique on London’s Old Bond Street, a four-story, 670-square-meter flagship operated by Watches of Switzerland. Hodinkee offers a detailed look at the new boutique with excellent photos here.
The importance of the launch was underscored by the presence of Rolex CEO Jean-Frédéric Dufour, who traveled to London alongside his wife, Anne-Carole Dufour, and Head of Communications Arnaud Boetsch.
Beyond its impressive scale, the new London boutique offers insight into Rolex’s broader retail strategy. Since the brand’s acquisition of Bucherer, industry observers have speculated about Rolex’s long-term intentions — whether it might shift toward a vertically integrated model, selling directly through Bucherer and limiting the role of independent retailers. After Rolex announced its acquisition of Bucherer, Watches of Switzerland Group saw its stock drop by about 27% on Aug. 25, 2023, marking its largest single-day loss.
But by partnering with Watches of Switzerland — a key competitor of Bucherer — for its largest boutique in Europe, Rolex is signaling that it sees value in maintaining a diverse retail ecosystem. This approach allows the brand to balance control over its distribution while continuing to leverage the expertise and customer relationships of long-standing retail partners. Watches of Switzerland also opened a Rolex boutique in Atlanta, Ga., last month and will open one in Plano, Tex., next week.
For independent Rolex dealers, the new London boutique provides reassurance that Rolex’s expansion strategy is not a departure from its established business model but rather an evolution, one that continues to prioritize a global network of trusted retailers.