-The global watch market is dominated by Swiss manufacturers.

The three leading

Swiss companies are Swatch Group, Richemont and Rolex, representing the largest
share in the global watch market.

-Traditionally considered a male domain, women are also driving up sales now. Luxury
watch makers are trying their best to design the female equivalent of their most popular
watch models. Women make up the majority of jewelry and watch purchases. However,
as Mintel’s 2008 study revealed, women are more and more interested in purchasing
unisex mechanical watches rather than feminine-styled watches.

-At present, Swiss-made watches are completely dominating the worldwide luxury
watch market contributing almost 100 percent share. These watches are exported to
most of the developed countries. However, rising incomes in emerging markets have
led to a new category of affluent young professionals with high purchasing power.

-The leading name in luxury wristwatches, Rolex has been the pre-eminent symbol of
performance and prestige for over a century. The company is also associated with
important inventions in the history of wristwatches.

-Rolex determined to build his name and his image with big names and is carefully
selected. In the group of athletes and sports class, like golf legends: Jack Nicklaus,
Arnold Plamer and Adam Scott, among the explorers, can be told as Sir Edmund
Hillary, who first set foot Everest Mount--Labeling with the human embodiment of
endurance, strength, and perseverance.

-Rolex stores are generally located in areas patronized by the higher income group who
can afford the brand and who actually have a liking towards it. Famous malls, exclusive
showrooms, popular streets etc are basically the locations where the watches are on
display and available for sale.

-Rolex has positioned itself as a brand without any compromise in the quality of the
services and sustained its growth by generating substantial profits. Rolex believes that
the good quality and extraordinary look provide them competitive advantage. With its
excellent channel of distribution, Rolex has been able to position itself in almost every
part of the world. It has launched various exciting and beautiful advertisements and
sales promotional activities for creating sales and enquiry.

-Rolex is a very high quality luxury watch which helps to build its brand image. The
differentiating feature of Rolex is its quality combined with its brand image. Rolex
targets a smaller market which can pay a premium for a luxury watch.

-The Rolex watch spells ‘class’. Not all but a few can afford it. It is a prestige and
esteem issue to wear a Rolex.
-Rolex racks up over 60% of demand in the top 10 online searches for specific models.

References:

Consumer Behavior of Wrist watches; Ankita Srivastava et. al