AVN 65.00 Decreased By ▼ -0.30 (-0.46%)
BAFL 29.49 Decreased By ▼ -0.01 (-0.03%)
BOP 4.07 Increased By ▲ 0.02 (0.49%)
CNERGY 3.51 Decreased By ▼ -0.04 (-1.13%)
DFML 11.65 Decreased By ▼ -0.05 (-0.43%)
DGKC 42.40 Decreased By ▼ -0.13 (-0.31%)
EPCL 45.85 Decreased By ▼ -0.14 (-0.3%)
FCCL 11.79 Increased By ▲ 0.04 (0.34%)
FFL 5.54 Decreased By ▼ -0.01 (-0.18%)
FLYNG 5.85 Decreased By ▼ -0.07 (-1.18%)
GGL 10.71 Increased By ▲ 0.11 (1.04%)
HUBC 67.31 Increased By ▲ 0.31 (0.46%)
HUMNL 5.48 Increased By ▲ 0.04 (0.74%)
KAPCO 24.10 No Change ▼ 0.00 (0%)
KEL 2.07 Increased By ▲ 0.01 (0.49%)
LOTCHEM 25.25 Increased By ▲ 0.05 (0.2%)
MLCF 25.35 Decreased By ▼ -0.07 (-0.28%)
NETSOL 74.15 Increased By ▲ 0.14 (0.19%)
OGDC 85.05 Increased By ▲ 1.00 (1.19%)
PAEL 10.60 Decreased By ▼ -0.02 (-0.19%)
PIBTL 3.75 No Change ▼ 0.00 (0%)
PPL 63.88 Increased By ▲ 1.03 (1.64%)
PRL 12.43 Decreased By ▼ -0.02 (-0.16%)
SILK 0.88 No Change ▼ 0.00 (0%)
SNGP 39.22 Increased By ▲ 0.22 (0.56%)
TELE 7.69 Decreased By ▼ -0.13 (-1.66%)
TPLP 14.24 Decreased By ▼ -0.08 (-0.56%)
TRG 106.80 Decreased By ▼ -0.10 (-0.09%)
UNITY 13.18 Increased By ▲ 0.01 (0.08%)
WTL 1.19 Increased By ▲ 0.01 (0.85%)
BR100 4,044 Increased By 8.5 (0.21%)
BR30 14,381 Increased By 65.7 (0.46%)
KSE100 39,951 Increased By 70.7 (0.18%)
KSE30 14,806 Increased By 35 (0.24%)
Follow us

Luxury Swiss watchmaker Rolex is gearing up to create three temporary production facilities that will begin churning out luxury watches in 2025. The world's largest producer of high-end timepieces is seeking to boost production amid an unprecedented rise in demand for its products, reported Bloomberg on Monday.

Investment in Rolex, Patek watches exceeds S&P gains over five years: report

Construction on the facilities will start later this year, said the report. The development comes after plans of spending 1 billion Swiss francs ($1.1 billion) on a major new production site in Bulle, a municipality in Fribourg, Switzerland, that is expected to commence operations in 2029.

Work on a 9,000 square meter facility in Romont, Switzerland will commence in the second half of 2023, with production expected to start in 2025.

There will also be a temporary facility at the Vivier SA industrial park in Villaz-Saint-Pierre that will begin operating in 2024 plus a recruitment center in Bulle.

The plan for the production increase acceleration and temporary facilities was first reported by Fribourg newspapers La Gruyère and La Liberté.

Returns on luxury Swiss watches still beat stocks and crypto: report

Rolex said production lines will be installed gradually with a staggered recruitment process that could reach 250 to 300 workers, the majority of which will be new employees.

“The new production site in Bulle, just like these three temporary installations, will allow Rolex to expand its production capacity, support growth and meet ever-increasing demand,” the company was quoted as saying by Bloomberg.

Rolex is controlled by a foundation named after its founder Hans Wilsdorf and produces about 1 million watches a year, generating sales of around 8 billion Swiss francs, according to Morgan Stanley estimates.

Luxury watchmakers face soaring demand, but there isn't enough time

At the moment, new watches are unavailable for immediate purchase through the company’s authorized network, leaving dealers like Watches of Switzerland Group to resort to waitlisting potential buyers.

This has also been causing a significant surge in secondary market prices that has seen popular models, such as the Daytona Cosmograph, trade at values well above retail.

Earlier this month, Bloomberg reported that prices for luxury timepieces such as Rolex, Patek Philippe and Audemars Piguet appreciated by an average of 20% a year since mid-2018, outpacing the S&P 500 Index, as values for pre-owned luxury timepieces surged.

Last year, it was reported that Rolex will begin issuing certificates of authenticity to authorised dealers selling its pre-owned watches, a move seen as giving the Swiss company more oversight of its products and stirring up the $20-billion market for secondhand luxury timepieces, amidst soaring demand.

Luxury watchmaker Rolex to begin certifying used watches as genuine


Comments are closed.

Luxury Swiss watchmaker Rolex looks to accelerate production to meet rising demand

Three airports: ECC all set to reconsider engaging IFC as transaction adviser

MoF seeks one year to submit data on fake pensioners

NA passes bill to curtail CJP’s suo motu powers

SC defers all Article 184 (3) cases till changes in rules

Lawyers urge ECP, others to implement SC’s decision

MoF refuses to become part of deal with KE on TDS

Up to Rs14 cut in ex-depot fuel prices likely

Punjab, KP polls in 90 days: SC asks ECP to comply with constitutional command

Provincialisation of Discos: KP gives ‘conditional’ acceptance to Pesco takeover

Forex buyers, sellers: Senate panel urged to remove CNIC-video condition