Swiss luxury watchmaker Rolex intends to build three additional manufactories in Switzerland to meet unusually strong market demand. It is reported with reference to a letter from the company Bloomberg.
Rolex previously announced that it would invest €1.1 billion in the construction of a new factory in Bulle (Friborg canton), which should start producing watches in 2029. However, the company is now ready to open two more production sites in this canton.
Already in the second half of this year, the construction of a plant in Romon with an area of 9 thousand square meters should begin. m. The production of watches on it should start in 2025. A temporary facility will also be set up at the Vivier Industrial Park in Villa San Pier, which will start operations in 2024. In addition, a recruitment center will be opened in Bulle.
“The new production site in Bulle will allow Rolex to increase its production capacity, support the company’s growth and meet ever-increasing demand,” the agency quoted the company as saying.
According to Morgan Stanley experts cited by the agency, Rolex currently produces 1 million pairs of watches a year with sales of 8 billion Swiss francs (approximately $8.78 billion).
It was previously reported that sales of vintage and used luxury watches will reach €79 billion by 2033. At the same time, the growth rate of sales of new luxury watches in the world will be much lower. As a result, in ten years, analysts predict, the secondary market will overtake the primary market in terms of sales.
The increase in demand for used watches is due to the fact that manufacturers no longer have time to meet the demand for their products due to limited production capacity. And lovers of expensive watches, not wanting to wait a long time for the opportunity to purchase models of the desired brand, go to the secondary market.
Read about the benefits of investing in accessories of expensive brands in the material “Kommersant FM” “Luxury watches overtake stocks.”
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