The story of Rolex began in 1905, not in Switzerland, but in the bustling city of London.
It was here that Hans Wilsdorf, a visionary with a passion for precision, founded the company alongside his brother-in-law, Alfred Davis. Originally known as “Wilsdorf & Davis,” the company specialised in importing Swiss movements to England, where they were cased and sold.
In 1908, Wilsdorf coined the name “Rolex,” a brand name short enough to fit on a watch dial, yet distinctive enough to be recognised globally. Wilsdorf relocated the company to Geneva, Switzerland, in 1919—a move that would forever associate Rolex with the world’s most prestigious watchmaking region.
The early history of the brand is inextricably linked to the visionary spirit of Wilsdorf, whose vision was to create wristwatches that not only looked good but were reliable and innovative in their design. To ensure the reliability and quality of the products, he commissioned a Swiss watchmaking company in Bienne to create precise movements that would impress even the most seasoned watch collector.
The relentless quest for chronometric precision rapidly led to success. In 1910, a Rolex watch was the first wristwatch in the world to receive the Swiss Certificate of Chronometric Precision, granted by the Official Watch Rating Centre in Bienne.
Four years later, in 1914, Kew Observatory in Great Britain awarded a Rolex wristwatch a class “A” precision certificate, a distinction which until that point in time had been reserved exclusively for marine chronometers. From that date forward, the Rolex wristwatch was synonymous with precision.
The Birth of Iconic Models
In 1926, Rolex introduced the Oyster, the world’s first waterproof wristwatch. This groundbreaking invention was tested when Mercedes Gleitze swam across the English Channel wearing a Rolex Oyster, proving its resilience and sealing Rolex’s reputation for reliability.
In 1931, Rolex developed the world’s first self-winding mechanism with a perpetual rotor, a feature that remains at the heart of modern automatic watches. This invention was not just about convenience; it ensured that the timepiece was always powered, further enhancing its precision.
Throughout its history, Rolex has introduced several iconic models that have become symbols of status and sophistication. The Rolex Datejust, launched in 1945, was the first watch to automatically change the date on the dial, a feature that was revolutionary at the time. Then came the Rolex Submariner in 1953, a diver’s watch that has since become a symbol of adventure and exploration.
The Rolex Daytona, introduced in 1963, was designed for the high-speed world of motorsport, with a chronograph that could measure elapsed time and calculate average speed. This model gained further fame when Paul Newman, the Hollywood icon and racing enthusiast, was photographed wearing it, making the “Paul Newman” Daytona one of the most sought-after watches in the world.
The Hans Wilsdorf Foundation & Philantrophy
Rolex’s philanthropic efforts are deeply intertwined with the legacy of its founder, Hans Wilsdorf, and are primarily conducted through the Hans Wilsdorf Foundation, which owns and controls Rolex since Wilsdorf’s passing in 1960. The foundation is a significant force behind Rolex’s commitment to supporting various causes in education, arts, culture, and the environment. The foundation supports numerous charities and social initiatives, particularly in the fields of education and the arts. The exact extent of its donations and the specific organisations it supports are not always publicly disclosed, reflecting the private nature of Rolex’s philanthropic approach.
One of the most visible examples of Rolex’s commitment to philanthropy is the Rolex Awards for Enterprise. Established in 1976 to mark the 50th anniversary of the Rolex Oyster, these awards support individuals who have innovative projects that improve lives or protect the world’s cultural heritage and the environment. The awardees, known as Rolex Laureates, receive financial support, global publicity, and the backing of Rolex’s vast network to help bring their projects to fruition. Over the years, this program has supported initiatives across a wide range of fields, from science and technology to exploration and the environment.
Another significant philanthropic effort is the Rolex Mentor and Protégé Arts Initiative, which was launched in 2002. This program pairs emerging talents in various art forms—such as music, dance, theatre, and visual arts—with world-renowned mentors for a year-long collaboration. The initiative is designed to foster excellence and promote the transmission of artistic knowledge to the next generation. Mentors have included some of the world’s most distinguished artists, and the program has had a profound impact on the careers of young artists globally.
Rolex has also been a long-time supporter of the arts and conservation. It has partnerships with prestigious cultural institutions like the Vienna Philharmonic, the Teatro alla Scala in Milan, and the National Geographic Society. Through these partnerships, Rolex supports endeavours that preserve and promote cultural heritage and environmental conservation.
Limited Supply and High Demand
Acquiring a Rolex watch today has become a challenging endeavor, and this scarcity is due to several factors that contribute to the brand’s exclusivity and desirability.
One of the primary reasons for the difficulty in obtaining a Rolex is the brand’s strategy of limited production. Rolex manufactures around one million watches annually, which may seem like a large number, but it’s relatively small considering the global demand. This limited supply ensures that each watch retains its value and exclusivity.
The demand for Rolex watches has skyrocketed in recent years, fueled by their reputation as status symbols, their association with luxury and success, and their history of retaining or even appreciating in value over time. This high demand outstrips the available supply, leading to long waiting lists and a thriving secondary market.
Rolex controls its distribution very tightly, only allowing authorized dealers to sell their watches. These dealers receive limited allocations, often based on their sales performance and relationship with Rolex. As a result, even authorized dealers struggle to meet customer demand, with some models being particularly elusive.
Rolex watches have gained a reputation as solid investments. Certain models, especially vintage or limited-edition pieces, can appreciate significantly in value. This investment appeal attracts not only watch enthusiasts but also investors looking for alternative assets, adding pressure to the already limited supply.
Given the difficulty of purchasing a Rolex at retail, many buyers turn to the secondary market. However, prices on this market are often significantly higher than retail, sometimes even double or triple the original price. This premium is driven by scarcity and the desire to bypass long waiting lists.
The Enduring Legacy
Today, Rolex is a leader in luxury, innovation, and timeless elegance. It’s a brand that has weathered wars, economic downturns, and shifting fashion trends, yet it has never wavered from its commitment to quality and precision. Whether on the wrist of an explorer at the top of Mount Everest or a business magnate closing a deal, a Rolex is more than just a watch; it’s a statement of enduring excellence.
As we glance at the time, it’s clear that Rolex doesn’t just measure hours and minutes—it measures history. And in the world of horology, there’s no name more iconic, no legacy more enduring, than Rolex.
Beyond the Surface: Little-Known Facts About Rolex
Secret Handshake with Hollywood: While Rolex’s association with luxury is well-known, its deep-rooted connection with Hollywood is often overlooked. The brand has appeared in over 100 films, often without direct sponsorship, showcasing its organic presence in pop culture. From James Bond’s Submariner to Paul Newman’s Daytona, Rolex has become an unintentional star on the silver screen.
Rolex’s Own Gold Foundry: Unlike most luxury watch brands, Rolex produces its own gold. The company has its own foundry where it melts and forms 18kt gold, ensuring that every component of a Rolex watch, from the case to the bracelet, meets the brand’s stringent quality standards.
The Mystery of the “Testimonee”: Instead of using the term “ambassador,” Rolex refers to its brand representatives as “testimonees.” This group includes icons like Roger Federer, Tiger Woods, and Martin Scorsese, who embody the excellence and dedication that Rolex represents.
A Commitment to Philanthropy: While many see Rolex as a symbol of wealth, the brand has a philanthropic side that is less well-known. The Hans Wilsdorf Foundation, established after Wilsdorf’s passing in 1960, owns and controls Rolex. The foundation is committed to funding educational and charitable causes, ensuring that the brand’s legacy extends beyond luxury.
A Unique Serial Number System: Rolex watches feature a unique serial number system that not only aids in identifying counterfeit models but also offers insights into the watch’s production year. This serial numbering, combined with Rolex’s meticulous record-keeping, has made vintage Rolex watches particularly valuable among collectors.
