Today, we’re breaking down one of the strongest brands in the world - Rolex. Founded in the UK in 1905 under the name Wilsdorf & Davis, Rolex has become the leading name in luxury watches. But, while the company’s products are iconic, the business itself is highly secretive. Owned by a Foundation and run as a non-profit entity, little is known about Rolex.
To unlock the secrets, we are delighted to be joined by Ben Clymer, founder of HODINKEE, and an expert on all things luxury watches. Ben has had rare access to Rolex and the people behind the manufacturer, making him the perfect person to dissect this business with us. Please enjoy this excellent Breakdown of Rolex.
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[00:03:01] - [First question] - Ben's favorite Rolex watch ever; Ben's Inside Rolex piece
[00:04:24] - What makes the Rolex Daytona such a special watch
[00:07:19] - The job-to-be-done for high-end watches beyond just telling them the time
[00:12:18] - The strategy behind marketing luxury products; The Luxury Strategy
[00:14:34] - An overview of Rolex's business
[00:19:38] - The history of Rolex
[00:38:45] - Their genius in marketing and distribution
[00:41:55] - How they make decisions and what others can learn from them
[00:47:14] - The financials of Rolex and other luxury watch brands
[00:49:02} - Most important business lessons others can learn from Rolex
[00:52:54] - Other luxury brands worth studying
[00:57:26] - What Rolex hasn't gotten right