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Search resuls for: "Rolex SA"


7 mentions found


☆ SailGP signs Rolex as first title partner of its global sailing competition
  + stars: | 2024-11-21 | by ( Brandon Gomez | In Brandon-Gomez | ) www.cnbc.com   time to read: +1 min
SailGP has signed Rolex as the first title partner of its global sailing competition. The self-described Formula 1 of sailing has signed Rolex as the first title partner of its elite sailboat racing competition. SailGP's series of events, which kicks off its 2025 season in Dubai on Saturday, will now be known as the "Rolex SailGP Championship." "Leading into our fifth season, SailGP is celebrating a period of remarkable growth," said league CEO Russell Coutts. SailGP's global championship features a dozen national teams from the U.S., Italy, Germany and others battling in identical high-tech, high-speed 50-foot foiling catamarans.
Persons: SailGP, Russell Coutts Organizations: Rolex Locations: Dubai, Swiss, U.S, Italy, Germany
☆ Stop thinking your expensive watch is an investment, says Rolex boss
  + stars: | 2024-04-17 | by ( George Glover | ) www.businessinsider.com   time to read: +2 min
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
☆ Watches of Switzerland shares plunge 30% after guidance cut
  + stars: | 2024-01-18 | by ( Elliot Smith | ) www.cnbc.com   time to read: +3 min
An employee arranges a display of Omega SA watches in the window of a Watches of Switzerland Group Plc store on Regent Street in London, UK, on Wednesday, Aug. 30, 2023. One of Watches of Switzerland Group Plc's biggest investors cut its stake in the UK-listed timepiece retailer less than 24 hours after Rolex SA decided to buy a rival, Bucherer AG. Photographer: Jose Sarmento Matos/Bloomberg via Getty ImagesWatches of Switzerland shares plummeted 30% on Thursday at 08:46 a.m. London time, after the luxury watch retailer cut its guidance for the 2024 fiscal year. Despite the market panic, analysts at both Jefferies and Investec reiterated their "buy" ratings on Watches of Switzerland stock in flash notes on Thursday. "However, the extent of the adjustments to the guidance range will be painful to navigate in the near term."
Persons: Jose Sarmento Matos, WOSG, —, Brian Duffy, Duffy, Investec Organizations: Omega SA, Switzerland Group, Switzerland Group Plc's, Rolex SA, Bucherer AG, Bloomberg, Getty, Switzerland, U.S, Rolex, Jefferies Locations: London, U.S, Switzerland
☆ Watches of Switzerland shares up 9.7% as retailer reiterates plan to double profit by 2028
  + stars: | 2023-11-07 | by ( Jenni Reid | ) www.cnbc.com   time to read: +2 min
An employee arranges a display of Omega SA watches in the window of a Watches of Switzerland Group Plc store on Regent Street in London, UK, on Wednesday, Aug. 30, 2023. One of Watches of Switzerland Group Plc's biggest investors cut its stake in the UK-listed timepiece retailer less than 24 hours after Rolex SA decided to buy a rival, Bucherer AG. The firm on Tuesday reported a tick up in revenue to £379 million ($467 million) from £374 million in the most recent quarter. Sales of watches rose, while jewellery declined. The stock took a particular hit in August, after rival Rolex announced a deal to buy watch retailer Bucherer, fueling fears of an industry juggernaut taking more market share.
Persons: Jose Sarmento Matos, Brian Duffy Organizations: Omega SA, Switzerland Group, Switzerland Group Plc's, Rolex SA, Bucherer AG, Bloomberg, Getty, Investors, Rolex Locations: London, Switzerland, U.S, Europe
☆ Watches of Switzerland shares plunge by a quarter after Rolex buys retailer Bucherer
  + stars: | 2023-08-25 | by ( Elliot Smith | ) www.cnbc.com   time to read: +1 min
A tray of Rolex watches are seen on a dealer's stand at the London Watch Show on March 19, 2022 in London, England. The Watches of Switzerland Group lost a quarter of its value on Friday morning, heading for the stock's worst day ever, after luxury watchmaker Rolex announced a deal to buy watch retailer Bucherer. Rolex said the acquisition for an undisclosed sum followed the decision of Bucherer owner Jorg Bucherer — the 86-year-old grandson of founder Carl Bucherer — to sell the business in the absence of any direct descendants to take the reins. In a subsequent statement on Friday, Watches of Switzerland attempted to soothe apparent market concerns that Bucherer, the world's largest luxury watch retailer, will seize more market share through its tie-up with the iconic brand. Watches of Switzerland insisted the acquisition was solely about succession planning for Bucherer and that Rolex — which is breaking with its modus operandi of acting solely as a manufacturer — is not making a "strategic move" into the retail market.
Persons: Jorg Bucherer —, Carl Bucherer — Organizations: London, Switzerland Group, Rolex Locations: London, England, Geneva, Switzerland
☆ You can now buy secondhand Rolex watches as the luxury brand's certified pre-owned program hits the US
  + stars: | 2023-05-05 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +2 min
Rolex introduced its certified pre-owned program to US customers on Wednesday. Starting this week, shoppers can buy pre-owned Rolex watches from an official Rolex reseller. "This new program, therefore, attests to the authenticity of these pre-owned Rolex watches at the time of resale by the Official Rolex Jewelers." Rolex first introduced its secondhand program to the world in December 2022, launching in countries including Switzerland, Germany, and France. Prior to the announcement, American watch collectors had to seek out resellers with authentication programs like Bob's Watches for pre-owned luxury watches.
☆ Rolex is discontinuing its $9,300 'mad scientist' Milgauss watch — and now some resellers are listing it for over $13,000
  + stars: | 2023-03-28 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +4 min
Rolex has quietly discontinued one of its professional watches, the magnetic field-resistant Milgauss. Bob's Watches CEO Paul Altieri told Insider he's holding off selling until prices find a new steady state. The original version was worn by the scientists at CERN, the European Organization for Nuclear Research, in Geneva, Rolex says. It even ranks near last place among the 16 Rolex models tracked on the site. Of course, Rolex could resurrect the Milgauss in a few years, but until it does, mad scientists will have to content themselves with a pre-owned model.
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