Rolex posts a record $11.5bn in sales

[Gaff65]

https://fortune.com/europe/2024/02/2...nant-position/

[996marty]

Now that is a massive turnover. Obviously their strategy of how they sell watches is clearly working

[rockmastermike]

Imagine if there wasn’t a “shortage”

[CH69]

I supposed they have many of the members here to thank for ;p

[SLWoodster]

This is 2023 numbers. Report came out earlier this year. Many other threads about this in TRF from Q1.

Interesting thing though is actually Cartier’s growth. Also preowned Cartiers values are increasing faster than every other brand’s secondary value.

The only Rolex watches growing in secondary market value this year are rare historical pieces like a 6270 and kitschy vintage dress watches like a King Midas or rare stone dials.

Other finance news that happened this year, Swatch profits down more than 50% on weak Chinese market.

UK Rolex finance shows strong YoY growth for fiscal year so we’re expecting to see strong strong Rolex numbers for the year ending in 2024 for the same Morgan Stanley report that will come out next year.

[Mystro]

This is why Rolex doesn’t listen to their customers for advice on how to sell watches. When threads pop up about how evil the secondary market is and ruined the brand, Rolex is making record profits and clearly doesn’t care if their watches are being flipped post AD sales.

[saltyandwet]

Originally Posted by Mystro

This is why Rolex doesn’t listen to their customers for advice on how to sell watches. When threads pop up about how evil the secondary market is and ruined the brand, Rolex is making record profits and clearly doesn’t care if their watches are being flipped post AD sales.

Well, you never know, maybe if they did listen to their customers who's to say they won't be doing even better than they are now? Maybe they could be doing $20B in sales.

[APhound]

Wow.
What an incredible brand.
I wonder if Rolex were to sell what it would be worth?


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[Jb1264]

Originally Posted by APhound

Wow.
What an incredible brand.
I wonder if Rolex were to sell what it would be worth?


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Warren Buffett would buy it in a heartbeat

[Krash]

It’s funny when people on this forum suggest that Rolex should change their sales & distribution model. They argue that Rolex is facing an existential threat if they don’t. I don’t know WTH they’re smoking, but hopefully they’re staying off the roads and not driving anywhere.


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[Funkle]

Originally Posted by Krash

It’s funny when people on this forum suggest that Rolex should change their sales & distribution model. They argue that Rolex is facing an existential threat if they don’t. I don’t know WTH they’re smoking, but hopefully they’re staying off the roads and not driving anywhere.


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If I knew a product I was selling was being resold for +25% or more I would rethink my position.

[Krash]

Originally Posted by Funkle

If I knew a product I was selling was being resold for +25% or more I would rethink my position.

Apples and oranges. Retail price is different.


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[brandrea]

Originally Posted by Krash

It’s funny when people on this forum suggest that Rolex should change their sales & distribution model. They argue that Rolex is facing an existential threat if they don’t. I don’t know WTH they’re smoking, but hopefully they’re staying off the roads and not driving anywhere.


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[cascadez71]

I wonder how much more it would be if the 32xx had similar warranty claim rates to the 31xxx.

[Mystro]

Originally Posted by cascadez71

I wonder how much more it would be if the 32xx had similar warranty claim rates to the 31xxx.

Seriously?? That’s not even a talking point. The average Rolex customer doesn’t even know or care about any of that. I don’t really care and I’ve owned way more 32 series than most and none have had any problems.

[cascadez71]

Originally Posted by Mystro

Seriously?? That’s not even a talking point. The average Rolex customer doesn’t even know or care about any of that. I don’t really care and I’ve owned way more 32 series than most and none have had any problems.

I misspoke, was referring to net profit.

That said, I agree, most customers don't care but many will wonder why their new watch needed service dramatically sooner than their old models. Timekeeping dropping off is the symptom and sign most will notice. I suspect 5-10 years from now there will be some major changes to the movement, if there hasn't already been.

I wonder your "wear time" in days/months/years per watch. I would 100% be willing to bet some of your movements have or will experience the sickness. The real question is, have they 'cured' it? So far jury is out.

[padi56]

Originally Posted by cascadez71

I wonder how much more it would be if the 32xx had similar warranty claim rates to the 31xxx.

Afraid this 32 series movement so called problems blown out of all proportion by a few people on forum .

[VictorGMT]

Originally Posted by padi56

Afraid this 32 series movement so called problems blown out of all proportion by a few people on forum .

If prior series had one issue out of 1000, and 32 series has 1.5 or two out of 1000, it's unnoticeable to almost all of the world and THE. BIGGEST. ISSUE. ON. THE. INTERNET. for an enthusiast forum.

I'm on a Corvette C8 forum. You'd think every dual clutch automatic transmission explodes on the drive home, from the way some post.

In reality, we have no idea how many issues, we just know that when someone has an issue, they start twelve threads on the forum AND mention their issue in every single forum comment they make. Then they self-reference to "Well from reading the forum it sure seems like there are issues GM is ignoring...".

[Easy E]

Originally Posted by Mystro

Seriously?? That’s not even a talking point. The average Rolex customer doesn’t even know or care about any of that. I don’t really care and I’ve owned way more 32 series than most and none have had any problems.

You are correct, the 32 issue is not relevant to this topic. Using the often thrown around number of 1 million watches sold a year, I believe 950,000 of those go to people who neither know nor care about what is happening inside their watch. Maybe even higher than that.

Originally Posted by padi56

Afraid this 32 series movement so called problems blown out of all proportion by a few people on forum .

Its not "so called" I have owned seven with the issue. That's not drama, that's just data. Again, Rolex can and will sell every watch they make because most don't know or care. Good for them (seriously).

[PenDelicate]

That company makes just fantastic watches.

[GradyPhilpott]

I don't think that Rolex "posts" any numbers at all, financial or otherwise.

[Batmannr1]

Originally Posted by GradyPhilpott

I don't think that Rolex "posts" any numbers at all, financial or otherwise.

Indeed Rolex is not a publicly traded company.
Rolex does not disclose financial sales figures or reports. Just a few analysts who want their company’s name in the headlines.

[GradyPhilpott]

Originally Posted by Batmannr1

Indeed Rolex is not a publicly traded company.
Rolex does not disclose financial sales figures or reports. Just a few analysts who want their company’s name in the headlines.

[chro.nic]

Originally Posted by GradyPhilpott

I don't think that Rolex "posts" any numbers at all, financial or otherwise.

Originally Posted by Batmannr1

Indeed Rolex is not a publicly traded company.
Rolex does not disclose financial sales figures or reports. Just a few analysts who want their company’s name in the headlines.

They do in the UK:

https://coron.et/new-1minute-reads/r...-sales-in-2023

https://www.watchpro.com/rolex-sales...o-685-million/

.nic

[Andad]

Originally Posted by chro.nic

They do in the UK:

https://coron.et/new-1minute-reads/r...-sales-in-2023

https://www.watchpro.com/rolex-sales...o-685-million/

.nic

I would love to see their cost of sales breakdown.

For a 7.3% net profit.

[Zach69SS]

Rolex is King and the numbers prove it! They are unstoppable…Now that they own Bucherer who knows what the numbers really are?

[samson66]

Good article on the SWATCH group's numbers. Couple interesting stats.

SWATCH Group sells about 70% of all Swiss luxury watches ~11M watches.

Smart watches sold 76M last year. That just wild!

https://revolutionwatch.com/swatch-g...5%20in%20value.

[TheVision]

Its funny when I recall prior Covid, gmt were sitting in cases in ADs and the hottest item was the daytona. Funny how the market changed after covid and now everyone and their mothers want a gmt.

I wonder if Rolex will do anther price hike come Jan 1st, 2025 or not............

[Krash]

Originally Posted by TheVision

Its funny when I recall prior Covid, gmt were sitting in cases in ADs and the hottest item was the daytona. Funny how the market changed after covid and now everyone and their mothers want a gmt.

I wonder if Rolex will do anther price hike come Jan 1st, 2025 or not............

I recall GMTs being virtually impossible to get at least 2 years, or maybe 3 before COVID. COVID was in 2020. You couldn’t get a Batman starting in mid to late 2017, and maybe earlier than that.

I know because I was still living in PA then and you couldn’t get one.

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[Praise567]

They make awesome watches.