Secondhand watch prices have tumbled since the Federal Reserve started raising interest rates.
His comments as secondhand watch prices slide after spectacular pandemic-era growth.
Watch prices started dropping as the Federal Reserve started raising interest rates.
Dufour, who's been Rolex CEO since 2015, also told NZZ he's expecting a "challenging" year.
Luxury watch companies such as Rolex, Patek Philippe and Audemars Piguet can't necessarily cut prices to stimulate demand, he added.
Persons:
Jean, Frédéric Dufour, NZZ, —, Dufour, who's, NZZ he's, Patek Philippe, Audemars Piguet, Thierry Stern
Organizations:
Rolex, Federal Reserve, Service, Swiss, NZZ