Rolex SA, the leading Swiss watch manufacturer renowned for iconic models like the Submariner and Daytona, has adjusted prices in the UK, opting to keep its pricing in the US unchanged.
As reported by Barclays analysts, the Geneva-based watchmaker raised prices at UK dealers by an average of approximately 4 percent at the beginning of the year.
This rise contrasts significantly with the 8.5% hike witnessed in 2022-2023, driven by a weakened pound and global inflation, leading the brand to transfer heightened production costs to customers.
In 2022, Rolex raised prices twice to uphold margins amidst rising inflation and address disparities between markets caused by currency fluctuations.
Rolex price changes garner significant attention, especially because opportunistic grey market flippers aim to extract additional profits from collectors due to the perceived increase in each watch's value. Yet, for sincere collectors who genuinely desire a Rolex and are open to joining the waiting list, the situation is not as dire as it may seem.
Rolex chose not to comment.
With an annual production surpassing one million timepieces, Rolex, headquartered in Geneva, is estimated by Morgan Stanley to achieve sales exceeding 9 billion Swiss francs ($10.5 billion) annually.
Operated by a foundation named after its founder, Hans Wilsdorf, Rolex's sales contribute to approximately 30 percent of the global luxury Swiss watch market.
