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How Rolex attracted the likes Warren Buffet and John F. Kennedy
3 lessons for startups and brands
There wouldn’t be a watch industry if it wasn’t for Rolex. It’s a reason we all were watches today. It’s a brand that everyone tries to copy and be. The icon. The king. Its logo is both familiar and mysterious. It’s a magnet for people with too much money. If you want to join the ‘rich guy’ club, you have to have a Rolex.
The beginnings
Rolex was an idea of German orphan Hans Wilsdorf. He attended boarding school in Coburg, Germany. He was proficient in English, so after graduation, he got a job as a translator at a Swiss firm Cuno Korten. Cuno Korten was one of the biggest watch exporters in Switzerland at that time.
After some time, Hans moved to England and created his own watchmaking company with the financial support of his brother-in-law. Back then, wristwatches weren’t so popular. The first one was made by Cartier in 1904. These watches, however, were clumsy, not accurate, and were not perceived as a high-end luxury good. This spot was reserved for pocket watches, which were more durable and often had their own heritage as they were passed from generation to generation.
Hans believed in the potential of wristwatches and contacted his friend from times at Cuno…
