Sales of Rolex watches top £329 million
Rolex UK has posted its best ever UK financial results thanks to its value-added customer service and high-quality luxury timepieces.
The luxury watch market is hugely competitive with several big-name brands fighting it out for top spot. But Rolex, one of the world’s most recognisable luxury brands, has proven that it will take some beating after announcing sales in excess of £329 million in 2017, with a net profit of £33.5 million.
This turnover figure represents a 23% year-on-year growth and is the company’s strongest ever set of financial results in the UK. What’s more, while the majority of Rolex UK sales came from the UK market, the brand also generated 2.5% of its revenue from other parts of Europe.
Rolex UK is under intense competitive pressure from other luxury brands, but the company’s directors have attributed its continued success to a number of factors, including controlled operating costs, providing value added service to its customers and, of course the quality of its products.
Rolex undoubtedly offers some of the most sought-after luxury timepieces in the world, as evidenced by the popularity of its 2018 releases, the Rolex “Rainbow” Daytona reference 116595 in rose gold and the Rolex “Pepsi” GMT Master II in steel – the latter of which sold out immediately after it was released.
And there are a number of reasons why the brand is held in such high regard by watch connoisseurs around the world. Rolex watches are renowned for their highly accurate timekeeping, and they combine sturdiness and reliability with a pleasing, iconic design that is instantly recognisable as a Rolex product.
Unlike many other watch brands, Rolex prefers to omit complicated features such as minute repeaters, tourbillons and perpetual calendars, instead concentrating on creating a great quality watch that has everything the wearer needs and is suitable for everyday wear.
What’s more, Rolex watches are known for their timeless aesthetic and by opting for a second-hand model you have a much wider range of options to choose from – as evidenced by this online seller which offers a huge array of used Rolex watches in Essex alone.
Another great advantage of Rolex watches is that they offer stability in value – which is sure to be an attractive prospect to any potential customer.
Finding the right watch
The luxury watch market can be somewhat intimidating for the uninitiated so, if you’re tempted to experience the luxury of a Rolex watch for yourself, there are a few guidelines you should keep in mind before making a purchase.
First, always do your research. Take the time to look up information about the different features and models that are available, and take a look at a couple of respected watch blogs as well as some of the excellent Rolex forums that are out there.
Once you have a necessary background information, it’s time to think about what style of watch you’d prefer. This comes down to a matter of personal taste and will be influenced by your personality, sense of style and fashion tastes, as well as how often and in what circumstances you plan on wearing your new timepiece. In general, the advice is usually to go for something classic and timeless, but if you have your heart set on a flashier piece with coloured dials or oversized cases, who are we to argue?
Another thing to consider is whether you want a new or vintage (pre-owned) Rolex. For a first-time buyer, buying a pre-owned Rolex can be a great way to dip your toe into the water of luxury watch ownership, particularly as they tend to be more affordable than brand new models, potentially giving you a substantial saving.
Whichever Rolex you decide to buy – old or new, classic or sporty – always buy from a reputable dealer to be sure you are getting what you pay for. Then you can sit back, relax and enjoy your membership of this exclusive luxury watch club.