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Rolex was the first brand to introduce waterproof watch in the year 1926. All of the watches are designed with fine quality materials and everything is done in detail so that there are no defects in the final products (Brandz, 2010).
Rolex is a luxury brand that can be bought by only selected group of people; the company has clarity about its target market and has designed its marketing strategy in accordance with the market requirements.
Rolex has created distinctive image in the market by portraying itself as the luxurious brand that is worn by celebrities. Everyone who wants to develop an association with any of the favorite personalities is buying and using Rolex watches.
The data collected from primary and secondary researches showed that the luxury brands in the wristwatch industry are Rolex, Omega, Dior, Cartier, Tag Heuer and Swatch. Majority of the people ranked Rolex and Cartier as the best luxury brands that have high quality and give the users a sense of pride for owning the watch of leading brands. The key factor that influenced in creation of such perception was the celebrity endorsement. More than 80% of the respondents that they get attracted those advertisements that have their favorite personalities or celebrities as they know that the person will tell the truth about the brand.
http://www.forbes.com/companies/rolex/
Rolex is the leading name in luxury wristwatches. It is headquartered in Geneva, Switzerland, but relies on 4,000 watchmakers in more than 100 countries. It created the world's first waterproof watch in 1926. Operating profit margins for the brand hover around 30%. Some of the world's most famous athletes pitch Rolex watches including: Tiger Woods, Phil Mickelson, Roger Federer and Lindsey Vonn.
#65 World's Most Valuable Brands
Chapter One - Research into Rolex
