“Rolex stopped talking about its products and started talking about its consumers.” That line neatly captures one of the central themes in “The Making of a Status Symbol: A Business History of Rolex,” a forthcoming book by Dr. Pierre-Yves Donzé, professor at the Graduate School of Economics at Osaka University.
Scheduled for release on Jun. 3, 2025, but already available for pre-order, the 272-page volume explores how Rolex transformed from one of many respected Swiss watchmakers into a brand closely associated with success. Originally published in French in 2024 as “La Fabrique de l’excellence,” the English edition includes minor updates, Donzé told me.
Dr. Pierre-Yves Donzé. (Photo credit: RTS)
Donzé, a native French speaker who grew up in La Chaux-de-Fonds — one of Switzerland’s historic hubs of watchmaking — brings both scholarly expertise and regional perspective to the story. He previously authored “The Business of Time: A Global History of the Watch Industry,” and here he returns with a deep dive into Rolex’s brand-building, market strategy and global expansion.
Before beginning the project, Donzé said he had informed Rolex CEO Jean-Frédéric Dufour of his plans to write on the history of the brand. They had an amicable conversation on the phone for an hour, he said, and Rolex gave him “carte blanche.”
Rolex didn't review the manuscript before publication but, in a rare move, issued a public statement noting: “The brand respect the work carried out by Pierre-Yves Donzé, a recognized expert in the field of watchmaking, for the seriousness and credibility of his work.”
Rolex advertisement, 1956. (Credit: Jake’s Rolex World)
The book covers over 120 years of Rolex history and shows how its leadership redefined what a watch could mean to consumers. While other Swiss brands focused on precision, Rolex gradually leaned into something more aspirational. “Rolex was adopting an innovative approach based on social distinction and individual success,” Donzé writes.
Through partnerships with advertising agencies like J. Walter Thompson (JWT) and De Garmo, the brand developed a new message — one that spoke less about the machinery inside the watch and more about the people who wore it. That shift would prove critical decades later, when it helped Rolex weather the quartz crisis that upended much of the Swiss watch industry.
The U.S. market played an important role in that evolution. Rolex reorganized its American business in 1948 and named René P. Dentan, a Swiss national based in New York, to run the new American Rolex Watch Corporation.
Dentan built strong retail relationships and helped expand the brand’s presence. A 1953 memo from JWT’s London office published in the book praised the American operation: “Your American organisation is impressive. We believe that it has done a remarkable job in a market where it is notoriously difficult to establish quality goods without very heavy advertising and promotion expenditures.”
André Heiniger, CEO of Montres Rolex SA from 1964 to 1992, was the man who made Rolex a global luxury brand that embodied individual success. (Credit: Rolex)
After taking over in 1964, André Heiniger, who would lead Rolex for nearly three decades, refined and expanded this vision. “He virtually ceased product innovation,” Donzé notes, focusing instead on building the reputations of existing models. He also brought the company's international operations under tighter control and worked to ensure a consistent message across markets: Rolex was not just a watch; it was a symbol of success.
One of the more striking moments in the book comes in 1977, during the height of the quartz crisis that severely impacted the Swiss watch industry. While brands like Omega and Longines struggled financially, Rolex purchased a building in central Manhattan for $15 million. Donzé sees the purchase as emblematic of the company's relative strength and steady strategy: “This anecdote starkly illustrates the gap that existed between Rolex and its competitors at the time.”
Rolex USA headquarters, New York. (Author unknown)
The book also explores how Rolex helped pioneer the idea of “accessible luxury,” products that, while expensive, were not out of reach for aspirational middle-class buyers. “They represent a dream product that the average consumer can hope to acquire one day,” Donzé writes. This approach set Rolex apart from older luxury models that catered exclusively to an elite few and helped shape the broader evolution of luxury goods in the decades that followed.
Spanning more than 120 years, “The Making of a Status Symbol” offers a detailed look at the business strategies, leadership decisions and branding choices that helped Rolex become one of the most recognized names in the luxury world.
Donzé’s account is well-researched, supported by detailed graphs and data, and serves as a valuable read for anyone interested in watchmaking, marketing — or building a brand identity for the long term. Rolex’s genius was never just about what was on your wrist; it was about who you became when you wore it.