27 Nov '17, 10am

WATCHPRO STATE OF THE NATION REPORT: Rolex Watch Company Limited

WATCHPRO STATE OF THE NATION REPORT: Rolex Watch Company Limited

Rolex Watch Company Limited reported sales of £268 million in 2016, a 41% rise over 2015. Operating profit for Rolex’s UK subsidiary rose by 13% to £22.5 million in 2016. The Rolex Watch Company Limited accounts, published at Companies House, give a rare glimpse into the finances of Rolex, which is owned by Hans Wilsdorf Foundation, a private family trust that never shares financial information. Rolex Watch Company Limited has seen sales double in the UK over the past five years, while operating profits are up five-fold. The company re-launched Tudor in the UK in 2014, helping turnover to rise to £190 million in 2015. Story continues below Advertisement But the impact of Brexit on the value of sterling, which made luxury watches more than 25% less expensive in the UK compared to the eurozone, Asia and the United States, drove sales to record levels. Rolex increased its pri...

Full article: http://www.watchpro.com/watchpro-state-nation-report-role...

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