Rolex doesn't sell watches.
They sell scarcity.
Here's how some genius marketing masterclass made Rolex $13+ billion last year. 👇🏼
Let's take a little trip down memory lane.
About 100 years back (in 1926) they made a dustproof and waterproof watch - the Rolex Oyster.
Back then, this was the first ever waterproof watch.
Instead of a boring glass shelf, Rolex decided to display the Oyster in their stores with one clever tweak.
They submerged it inside an aquarium. 🐟
That blew people's minds, and Rolex literally put their money where their mouth was.
Flash forward a few years, to 1927.
A British swimmer made headlines when she announced that she would be doing a 34 kilometer swim across the English Channel. 🏊
Rolex teamed up with her, and they put an Oyster on her wrist.
They did influencer marketing before influencer marketing was cool.
Over the years, Rolex started knocking on the doors of the elite.
Athletes, movie stars, businessmen, presidents, and musicians.
Instead of selling them watches, Rolex decided to sponsor them.
Long story short: Rolex pays for their brand to be associated with power. 💪🏼
You will never see them sponsor a football team or a cricket match. But if you head to an F1 race or go for a round of golf, you'll see their name plastered everywhere.
Every single Rolex has a story behind it's name, and that pride turns their customers into salespeople. A good ol' dash of word-of-mouth marketing. 🚀
They manufacture a MILLION watches a year, and most of their watches hold their value.
Hardcore marketing machine... 🤔