23 Jun '13, 9am

Rolex bids to keep its No 1 luxury watch spot: Gap between mega watch brands Rolex and Omega is shrinking as t...

Rolex bids to keep its No 1 luxury watch spot: Gap between mega watch brands Rolex and Omega is shrinking as t...

On the opening day of the Basel World watch fair this year, Digital Luxury Group (DLG) released a report confirming that the gap between luxury watch makers Rolex and Omega is getting smaller every year. The difference went from 8.4 percent in 2009 to a mere 2 percent in 2012, proving that Omega’s strategy to improve the brand’s positioning is paying off. In 2012 Omega sponsored the London Olympics and boosted its plan to become Rolex’s biggest direct competitor by placing an aggressive campaign around Skyfall, one of the highest-grossing films in the James Bond franchise. According to David Sadigh, the founder and CEO of DLG, Rolex’s recent deal to become Formula 1’s world-wide partner and official timepiece was a key decision intended to prevent Omega from surpassing its position. The Financial Times reports that the deal is believed to be worth $35m a year for ten years...

Full article: http://www.arabianbusiness.com/rolex-bids-keep-its-no-1-l...

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