Who Owns Rolex?

Rolex is a Swiss luxury watch brand based in Geneva, Switzerland. The company was founded in 1905 by Hans Wilsdorf and Alfred Davis as Wilsdorf and Davis. In 1908, the brand changed the name of its watches to Rolex. The company registered its iconic crown logo in 1931. Rolex had over 9,000 employees across the four sites. [1]

Rolex is one of the Big 4 Swiss watches, with Cartier, Omega, and Audemars Piguet. It is the top Swiss watch brand and the world’s leading luxury watch designer and manufacturer. In 2023, Rolex strengthened its leadership position with a 30.3% retail market share. The luxury giant is the first Swiss watch brand to surpass the CHF 10 billion barrier. [2]

Rolex stays ahead of the competition by refreshing its product line. The company releases new watches annually. In Jul 2023, Rolex introduced its new 2023 collection with nine watches. The assortment includes Titanium Yacht-Master 42, Oyster Perpetual Celebration Dial, and Perpetual 1908. The Titanium Yacht-Master 42 combines the Deepsea Challenge feature and RLX titanium, 30% lighter than the 904L stainless steel used by older Rolex watch versions. [3]

Rolex designs and manufactures all its watches. The brand’s top-selling models include the Daytona, Submariner, and Datejust. In 2023, Rolex produced around 1.24 million watches and surpassed $10 billion in sales revenue for the first time. The company gained an 11% market share. But who owns Rolex? [4]

Who Owns Rolex Image credit Tran Phuc — Image credit: Tran Phuc

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Who is Rolex’s owner?

The Hans Wilsdorf Foundation owns Rolex. It is a private charitable trust headquartered in Geneva, Switzerland. The trust was founded in 1944 by Hans Wilsdorf after his wife died. Rolex is the foundation’s flagship brand. However, the trust also owns the lower-priced Tudor watch brand. In 2023, Tudor generated around 545 million francs in sales. [5]

Rolex distributes its products through retail partners like Watches of Switzerland (WoS), a London-listed luxury retailer with around 200 stores globally. WoS sells Rolex, Piguet, and Cartier watches. However, Rolexes account for over 50% of WoS’s sales. In Aug 2023, Rolex acquired the 100-plus store chain Bucherer, specializing in jewelry and luxury watches. This acquisition allows Rolex to sell its watches directly to consumers through company-owned Bucherer shops. [6]

Rolex is synonymous with luxury and innovation. It is one of the world’s most expensive watch brands. In Jan 2024, Rolex announced price hikes for specific countries. The US and Switzerland were spared. However, Australia, Canada, and India faced the steepest price increases. Rolex hikes its prices yearly to align with inflation in currencies globally. [7]

Rolex’s Ownership History

Alfred Davis and his brother-in-law Hans Wilsdorf were the original Rolex owners. They established the company in London, UK, and sold their early wristwatches to jewelers, who put their names on the dials. In 1910, the founders introduced the Oyster wristwatch with a waterproof case. The Oyster helped Rolex become a leader in the watch industry. The company released the Perpetual in 1914. Hans Wilsdorf changed the brand’s name to Rolex and moved to Geneva, Switzerland. He became the sole owner in 1920 after registering the Rolex brand in the Swiss Commercial Register. [8]

Rolex’s innovations pushed the boundaries of watchmaking in the 1920s and 1930s. The brand introduced the Rolex Oyster in 1926 and the Datejust wristwatch in 1933. The Oyster was the world’s first waterproof watch. English swimmer Mercedes Gleitze wore the Rolex Oyster while swimming across the frigid English Channel. The company unveiled the Oyster Perpetual in 1936 and the Oyster Perpetual Submariner in 1945. [9]

The brand expanded its product line in the 1950s and 1960s. The 1953 Rolex GMT-Master featured a dual-time zone function, making it the go-to option for pilots. In 1953, the brand launched the Rolex Submariner as the first divers watch. The Submariner was waterproof up to 100 meters. Rolex unveiled the Submariner-Date in 2003 to celebrate Submariner’s 50^th anniversary. Other Rolex models include the Daytona, Yacht-Master, Explorer, Air-King, Oysterdate, Sea-Dweller, Deepsea, Masterpiece, Lady-Pearlmaster, Lady-Datejust, and Lady-Perpetual. [10]

Wilsdorf established the Hans Wilsdorf Foundation in 1944 after his second wife, Florence Wilsdorf-Crotty, died. He left all his Rolex shares to the private trust. However, the cofounder continued to manage the brand. Wilsdorf died childless in 1960, with the Hans Wilsdorf Foundation becoming Rolex’s sole owner. The trust donates Rolex’s profits to charitable causes in Geneva, Switzerland. [11]

Rolexs Ownership History Image credit Ness P Colmart — Image credit: Ness P. Colmart

Rolex’s Shareholder Structure

Rolex SA has a unique ownership structure. Wilsdorf was Rolex’s sole owner and gave 100% of his stake to the Hans Wilsdorf Foundation in 1960. Since then, the foundation has owned and controlled Rolex under Swiss law. Rolex is a for-profit company, while the Hans Wilsdorf Foundation is a non-profit private trust. All profits from Rolex are tax-free and put into the foundation to finance noble causes. However, Swiss law doesn’t require Rolex to disclose its charitable donations and shareholder information. [12]

The Geneva-based Hans Wilsdorf Foundation solely owns Rolex shares. Its charity work focuses on social action, education, and culture. The foundation donates over 300 million francs to charitable causes yearly and sponsors sports like tennis, F1, golf, yachting, and equestrianism. In Nov 2022, the company named Nicolas Brunschwig the new Rolex Chairman. Jean-Frédéric Dufour retained the CEO position. [13]

The Hans Wilsdorf Foundation saved Servette FC from bankruptcy in 2015, took over the doomed Cinema Plaza in 2019, and donated 100 million Swiss francs to the ICRC in 2022. In 2002, the trust established the Rolex Mentor and Protégé arts program. The board has nominated 1,350 people from 120 countries for mentorships and selected 63 artists since 2002. [14]

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