A Report On The Swiss Watch Company

2392 Words10 Pages
Rolex, the esteemed timepiece manufacturer, known globally as a statement of success, quality, and prestige, is regarded in the watch market as part of the highest tier of timepieces. The Swiss watch company was founded in 1905 by Hans Wilsdorf and his brother-in-law William Davis in London, with the vision of making quality timepieces more popular. They chose Rolex as the name because they believed that the sound a watch made while being wound sounded like the word while also being short enough to fit on any size watch. In 1914, Kew Observatory awarded a Rolex watch a Class A precision certificate, a distinction normally granted exclusively to marine chronometers. The company spent 14 years in London and then Wilsdorf moved the…show more content…
Rolex was the only company not to take losses, as it used this time period to further its reputation for quality and performance. In 1926, Wilsdorf developed and patented the first truly water-resistant watch, the Oyster. The watch was strapped to the wrist of Mercedes Gleitze as she made her pioneering 15-hour swim across the English Channel. Rolex capitalized on the event by using it in advertisements, and by building displays in jewelers’ windows that featured a watch submerged in a small tank of water. Eventually, Rolex brand had gained such prestige that British Royal Air Force pilots brought them to replace the inferior watches that were normally issued. Pilots captured during the war frequently had their wares confiscated, but when pilots wrote to the company describing their experiences, Rolex would replace the watches at no cost. This led American servicemen learned of Rolex while stationed in Europe, thus helping to open the lucrative U.S. market to the company. By using these unique marketing opportunities to their advantage, Rolex raised brand awareness and furthered its reputation as a major player in the watch market.
In the post-war era the company set its sights on further expanding the brand and Rolex continued to build its high-performance reputation. In 1945, Rolex introduced the Datejust model, the first chronometer with an
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