To keep up with demand, Rolex is going to create new production facilities to churn out more luxury watches.
👉 Background: Rolex is the world’s largest maker of high-end timepieces, with about 1 million watches produced per year. And, these swanky watches generates around 8 billion Swiss francs ($12 billion AUD) in sales per annum.
👉 What happened: The demand is so strong that 1 million watches produced every year just ain’t enough. Now, to keep up with demand, Rolex is going to create three new production facilities that will begin churning out luxury watches from 2025.
👉 What else: So with these new facilities, it means means more watches for customers and for Rolex, that means more sales.
💡The rise in demand for Rolex watches has caused a rise in the price of second-hand Rolex watches. In fact, some of the popular Rolex models trade at values well above the retail price.
💡Since August 2018, pre-owned watch models from luxury Swiss brands have grown at more than twice the rate of the S&P 500.
💡On top of that, some experts forecast that second hand luxury watch sales could overtake the primary retail market by 2033.
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