Rolex news and archive

Watches of Switzerland Q4 sales rise, "cautiously optimistic" about FY25

In the fourth quarter, revenue of 380 million pounds at Watches of Switzerland increased 4 percent at constant currency and 3 percent at reported rates, while luxury watches revenue rose 5 percent at constant currency and 3 percent at reported rates, with particularly strong performance in the US. Full year group revenue of 1,538 million pounds,...

Retail

Rolex faces a 100 million dollar fine for obstructing online watch sales

France’s competition regulator, the Autorité de la concurrence, has imposed a substantial fine of 91,600,000 euros on Rolex France, along with Rolex Holding SA, the Hans Wilsdorf Foundation, and Rolex SA. The penalty is in response to industry referrals and subsequent investigations from Rolex's prolonged prohibition - exceeding a decade – to...

Business

Rolex SA to acquire luxury watch group Bucherer AG

In a strategic move, Rolex has announced it will acquire Bucherer, the well-known watch retailer. Despite the acquisition, Bucherer will maintain its unique identity and operational independence. The integration is awaiting approval from competition authorities. The decision comes after Jörg Bucherer, due to the absence of direct heirs, chose to...

Fashion Featured

UK has over one million fake watches in circulation, says report

Recent research conducted by Watchfinder & Co., a luxury pre-owned watch specialist, has shed light on the prevalence of counterfeit goods in the market. The study revealed 14 of Britons have fallen victim to counterfeit products. Specifically, the research identified a staggering 1,010,572 fake watches circulating within the UK market alone....

Business

Omega watches to see price increases

Omega, the renowned Swiss watchmaker, is preparing for another round of price hikes following a previous increase earlier this year. Swatch Group AG, the owner of Omega, has been closely monitoring the luxury market, where entry-level Rolex prices have skyrocketed, often reaching twice the cost of an Omega timepiece. Omega contributes around 60...

Fashion Featured

Pre-owned luxury watches are seeing a surge in falling prices

Watchfinder & Co, the online destination for pre-owned luxury timepieces, is lowering prices by 15 percent, as a reflection of the luxury watch market at large. The Richemont-owned company told Bloomberg an increase in supply has affected demand, with prices for well-known models Rolex, Patek Philippe and Audemars Piguet having dropped...

Fashion Featured

What fashion items are great investment pieces?

With the growth in the resale market, customers are seriously rethinking the investment piece. Those with a penchant for designer items are no longer in the business of just acquiring stuff. They want to know it will hold value, so they can resell it and eventually put it toward something else. Alternatively, they will view it as an active...

Fashion

Rolex tops list of most searched for second-hand brand

Rolex is the most searched for brand when it comes to pre-owned luxury, according to data from For-sale.co.uk’s Second Hand Fashion Index. Using the methodology of searching in Google with the term ‘used’ followed by brand, Patagonia and Louis Vuitton came second and third. With the second-hand fashion market seeing unprecedented demand, fashion...

Fairs

Baselworld cancels 2022 tradeshow

Troubled Swiss tradeshow Baselworld has cancelled its 2022 edition, which was to take place next spring. The international watch fair said the launch of a new concept is taking longer than expected. The fair’s managing director, Michel Loris-Melikoff, who took over the management of Baselworld in 2018, also announced his departure. Baselworld,...

Fashion Featured

Nike is world's top valuable apparel brand

Nike is the world’s most valuable apparel brand for the seventh consecutive year, according to data from the Brand Finance Apparel 50 2021 report. In a trying year for retailers and brands, the total value of the world’s top 50 most valuable apparel companies declined by 8 percent. Footwear brands are the only category to see growth, up 9...

RetailFeatured

Data reveals Brits are unknowingly spending 3.2 billion pounds on fake designer goods

When Amazon announced it was launching an internal Counterfeit Crime Unit in July, it sent a message to those sellers proliferating fake goods. If the world’s largest online retailer is aiming for zero counterfeit and inferior quality products on its website, there is an equal zero tolerance policy towards those who sell and manufacture them....

Fairs

Rolex, Patek Philippe ditch Baselworld to create new watch fair

Five of the world's biggest luxury watchmakers, including Rolex, Patek Philippe and Chanel, announced Tuesday they would withdraw from Baselworld to create a new watch fair. Joined by jeweller Chopard and Rolex subsidiary Tudor, the brands that for decades were considered pillars of the iconic fair in the northern Swiss city of Basel have...