Marketing of Rolex
Marketing Strategy of Rolex
Chapter 1: Introduction and Company’s History
Introduction:
On the 22nd of March 1881, Mr.. Hans Wilsdorf, the founder of the Rolex Watch Company, was born. Sadly orphaned by the age of 12, he continued on with a full education at a leading boarding school in Switzerland and after leaving secured his first job as an apprentice in a large firm of pearl importers. However, it was due to friendship, struck while at school, that would see Mr.. Wilsdorf enter the world of watches. His friend turned to him one day and said:
"When we’re finished with all this school business, you’d better come and join us. We export watches all over the world"
So it was that Hans Wilsdorf, at an age of 19, started work as an English correspondent and clerk with the firm of Messrs. Cuno Korten in La Chaux-de-Fonds, Switzerland. His friend earlier comment had been no idle boast, as this firm was a very large exporter of watches with a turnover of nearly Frs1m a year. It was in this position that Mr.. Wilsdorf interest in watches was undoubtedly sparked. As he commented:
"... it provided an excellent opportunity to study the watch making industry closely and examine every type of watch produced both in Switzerland and abroad"
The Move to London:
By 1903 Mr.. Wilsdorf had settled in London working for another watch making firm. After gaining experience from this and his previous employment and growing in self confidence he set about to established his own firm. With financial help from his brother-in-law, Alfred Davis, the company known as ‘Wilsdorf and Davis’ was founded.
The firm did not initially produce wristwatches because wristwatches were not thought masculine by the public and also the technical difficulties that many watch makers believed existed in trying to make this type of timepiece. Such problems as the difficulty of producing a movement small enough to be housed in a case to be worn on the wrist and the likely hood of moisture and dust
Chapter 1: Introduction and Company’s History
Introduction:
On the 22nd of March 1881, Mr.. Hans Wilsdorf, the founder of the Rolex Watch Company, was born. Sadly orphaned by the age of 12, he continued on with a full education at a leading boarding school in Switzerland and after leaving secured his first job as an apprentice in a large firm of pearl importers. However, it was due to friendship, struck while at school, that would see Mr.. Wilsdorf enter the world of watches. His friend turned to him one day and said:
"When we’re finished with all this school business, you’d better come and join us. We export watches all over the world"
So it was that Hans Wilsdorf, at an age of 19, started work as an English correspondent and clerk with the firm of Messrs. Cuno Korten in La Chaux-de-Fonds, Switzerland. His friend earlier comment had been no idle boast, as this firm was a very large exporter of watches with a turnover of nearly Frs1m a year. It was in this position that Mr.. Wilsdorf interest in watches was undoubtedly sparked. As he commented:
"... it provided an excellent opportunity to study the watch making industry closely and examine every type of watch produced both in Switzerland and abroad"
The Move to London:
By 1903 Mr.. Wilsdorf had settled in London working for another watch making firm. After gaining experience from this and his previous employment and growing in self confidence he set about to established his own firm. With financial help from his brother-in-law, Alfred Davis, the company known as ‘Wilsdorf and Davis’ was founded.
The firm did not initially produce wristwatches because wristwatches were not thought masculine by the public and also the technical difficulties that many watch makers believed existed in trying to make this type of timepiece. Such problems as the difficulty of producing a movement small enough to be housed in a case to be worn on the wrist and the likely hood of moisture and dust
Bibliography: http://www.casestudy.co.in/brand-equity-rolex-watches www.redwatches.com www.stern.nyu.edu www.managementparadise.com www.rolexpassionreport.com www.rolex.com www.timekeeperforum.com