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If you've ever wanted to dip your toes into the world of collecting vintage pocket watches, an archetypal example like this 1960s Omega is a great place to start. With that in mind, Rolex has no shareholders that demand insight into the company and detailed reports about its financials.Why This Watch Matters While the brand was gearing up to go to the moon, Omega also stuck to their roots with classic pocket watches like this example. What allows Rolex to operate its company so secretively can also be attributed to its non-profit status. nor the Wilsdorf Foundation have any legal obligation to disclose their financials. It’s safe to say that Rolex’s way of conducting business has paid off and proven to be very successful. Limited information is shared with the public, including things such as material sourcing, but also financials. Rolex is perhaps the most secretive company in the watch industry. That is what the non-profit allows Rolex to do, without any shareholders having any say. It’s willing to say no to short-term profit to ensure the longevity and strength of the brand. Rolex is not desperate to boost sales in the coming year, but rather to make sure it has a flourishing and well-established brand 30, 40, or even 100 years from now. With that in mind, Rolex still works hard to improve and innovate its products, and of course, has an interest in growing bigger and increasing its revenue and profits.īut being a non-profit, it can play the long-term game with a long-term strategy. We can see this happening with many companies that, for example, release countless limited-edition models purely to boost short-term sales, not thinking about the effect that this has on the long-term value and strength of the brand. Unfortunately, this has a risk of resulting in the company being run with a short-term profit mindset, rather than a long-term brand-and company-building strategy that allows the company to flourish for many decades to come. However, what it does allow, that sets Rolex apart from its competitors is the fact that it has no shareholders or investors who may want to have a say in how the company is run, but also sets pressure to keep the stock price high, and constantly increasing, as well as increasing sales and profits. With that said, being a non-profit does not mean that the company has no interest in making money and seeing good numbers. The areas that Rolex focuses on are the environment, science, and arts. You can read all about Rolex’s charity efforts on. So what does Rolex do with all of its money? Today, Rolex donates a large part of its profits to charity and social causes. In economic terms, it is an organization using its surplus of the revenues to further achieve its ultimate objective, rather than distributing its income to the organization’s shareholders, leaders, or members.” ”A nonprofit organization ( NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is an organization dedicated to furthering a particular social cause or advocating for a shared point of view. Since then, The Wilsdorf Foundation owns and controls the Rolex watch company to this very day. Hans Wilsdorf moved his 100% ownership of Rolex to the foundation in 1960. Refer to our complete guide to the Hans Wilsdorf Foundation and how much of Rolex’s profits go to charity here. The foundation was established to commemorate his wife Florence Frances May Wilsdorf-Crotty, who died in 1944.
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Hans Wilsdorf was the founder of Rolex and established the foundation in 1945. Rolex watch company – Rolex S.A – is owned by the Wilsdorf Foundation. When you think about giant luxury corporations like Rolex, non-profit is certainly not the first thing to come to mind.īut the fact of the matter is that Rolex is, in fact, a non-profit.
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As Rolex’s slogan goes ”The Rolex Way”, you could say this applies to the way the company is run. In fact, the way Rolex conducts business is a very different way. Rolex is not like most other watch companies out there.