Rolex watches were first manufactured in London back in 1905. It later moved to its new headquarters in Switzerland by the year 1919. When people think of Rolex, many of them would consider it as a luxury watch or a premium Swiss watch. With its premium and luxury watch tag, Rolex watches are considered very expensive. Any person wearing a Rolex watch is considered rich and part of the elite class. Over several decades, Rolex has maintained its status as a premium quality watch with a premium price. Many people have wondered though on why Rolex watches can command much higher prices compared to other luxury brands. Some observers simply point this to a branding issue. For these people, Rolex simply projects itself as a premium brand and so demands a high price. With premium brands, the company behind Rolex must also spend lots of money for celebrity endorsements, event sponsorships, and advertising. All these costs will then add up to the retail pricing of the watches.
Some people also argue that Rolex watches have a reputation of finely engineered timepieces that will last a lifetime. Swiss watches are known to be reliable and durable but even more so for Rolex watches because of their rich history of providing various firsts in the watch industry. Over several decades, Rolex as a brand has remained popular and relevant among people in the elite class and in high society. There are also people who point out that Rolex watches are also encrusted with expensive jewels unlike the typical and standard Swiss watch. Fine jewels add to the luxury image of Rolex watches and they continue to become the most sought-after watch brand even in present times.
There are also observations that the rich people and celebrities themselves made Rolex watches more expensive than others. Wearing them in big events and endorsing them in commercials made Rolex watches gain even more value in the retail industry. The more perceived value it gained, the pricier it got.Similar Posts: