ROLEX, valued at $9 BILLION is the world’s richest NON-PROFIT
Built the world's first waterproof watch, 80 YEARS before Apple did.
After losing his parents, this child, with no money & connections, created the most luxurious watch brand in the world:
Built the world's first waterproof watch, 80 YEARS before Apple did.
After losing his parents, this child, with no money & connections, created the most luxurious watch brand in the world:
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Today, it accounts for ~25% of all Swiss watch sales.
Despite the pandemic, it made $9B in revenue in 2020, & $13B in 2021.
But the CRAZY part, 100% of its stake is owned by a charity foundation - Hans Wilsdorf Foundation.
Today, it accounts for ~25% of all Swiss watch sales.
Despite the pandemic, it made $9B in revenue in 2020, & $13B in 2021.
But the CRAZY part, 100% of its stake is owned by a charity foundation - Hans Wilsdorf Foundation.
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Rolex is not just an 'expensive & luxury' watch brand, rather it is the most innovative watch brand in the world.
Here's why -
1. One of the pioneers to bring the change from pocket watches to wristwatches.
Rolex is not just an 'expensive & luxury' watch brand, rather it is the most innovative watch brand in the world.
Here's why -
1. One of the pioneers to bring the change from pocket watches to wristwatches.
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2. Released the world's first waterproof and dustproof wristwatch in 1926.
2. Released the world's first waterproof and dustproof wristwatch in 1926.
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3. Introduced a date window in wristwatches.
3. Introduced a date window in wristwatches.
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4. Uses an expensive 904L steel for making its watches.
4. Uses an expensive 904L steel for making its watches.
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It all started when, Hans Wilsdorf, the founder of Rolex, was sent to boarding school after the death of his parents.
There he got interested in watches.
In 1900, at the age of 19, he moved to La Chaux-de-Fonds, the city of watchmakers, to pursue a career in watchmaking.
It all started when, Hans Wilsdorf, the founder of Rolex, was sent to boarding school after the death of his parents.
There he got interested in watches.
In 1900, at the age of 19, he moved to La Chaux-de-Fonds, the city of watchmakers, to pursue a career in watchmaking.
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There Hans got a job working at a pocket watch company - his first real-world experience in the industry.
Soon after, he was importing Swiss watches to the English markets.
But at the time, the industry was dominated by pocket watches.
There Hans got a job working at a pocket watch company - his first real-world experience in the industry.
Soon after, he was importing Swiss watches to the English markets.
But at the time, the industry was dominated by pocket watches.
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While some watchmakers were experimenting with wristwatches, they were mostly regarded as women’s jewelry.
No one believed it possible to make a wristwatch rugged enough for a man’s use.
“Real Men Don’t Wear Wristwatches” - this was the norm.
While some watchmakers were experimenting with wristwatches, they were mostly regarded as women’s jewelry.
No one believed it possible to make a wristwatch rugged enough for a man’s use.
“Real Men Don’t Wear Wristwatches” - this was the norm.
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Despite their popularity, pocket watches were not ideal for many people
- Not ideal for soldiers during wartime
- People didn’t wear jackets in countries with warmer climates, so where could they keep a pocket watch?
Despite their popularity, pocket watches were not ideal for many people
- Not ideal for soldiers during wartime
- People didn’t wear jackets in countries with warmer climates, so where could they keep a pocket watch?
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Hans Wilsdorf saw this trend & wanted to make a wristwatch, that was 'rugged' enough for MEN.
And in 1905, at the age of 24, he launched a watch company "Wilsdorf & Davis" with his brother-in-law Alfred Davis.
Hans Wilsdorf saw this trend & wanted to make a wristwatch, that was 'rugged' enough for MEN.
And in 1905, at the age of 24, he launched a watch company "Wilsdorf & Davis" with his brother-in-law Alfred Davis.
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While everyone else was still focused on pocket watches, they started specializing in wristwatches.
While everyone else was still focused on pocket watches, they started specializing in wristwatches.
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They were convinced that wristwatches would soon replace pocket watches.
But the perception was still that wristwatches were too small, too fragile, unmanly, imprecise, and too sensitive to dust and moisture.
They were convinced that wristwatches would soon replace pocket watches.
But the perception was still that wristwatches were too small, too fragile, unmanly, imprecise, and too sensitive to dust and moisture.
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To disprove such claims, they certified the watches several time.
The Official Watch Rating Centre in Switzerland verifying the proper chronometric precision.
Then a Class A precision certificate from the Observatory at Kew in London.
To disprove such claims, they certified the watches several time.
The Official Watch Rating Centre in Switzerland verifying the proper chronometric precision.
Then a Class A precision certificate from the Observatory at Kew in London.
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At the time, Class A certificates were reserved for marine chronometers which were the most accurate forms of timekeeping.
With this rating, their watches were starting to become well-known.
At the time, Class A certificates were reserved for marine chronometers which were the most accurate forms of timekeeping.
With this rating, their watches were starting to become well-known.
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Now more people started buying their wristwatches, but the brand was still facing heat because of its GERMAN name.
Hans wanted to change it.
For almost 2 years they made various combinations of 5 letters to form a word. But nothing seemed fascinating.
Now more people started buying their wristwatches, but the brand was still facing heat because of its GERMAN name.
Hans wanted to change it.
For almost 2 years they made various combinations of 5 letters to form a word. But nothing seemed fascinating.
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Then one day, while roaming around in London, Hans came up with ROLEX.
It was simple, & easy to pronounce in all languages. Immediately, he registered the name of their company in the United Kingdom.
Then one day, while roaming around in London, Hans came up with ROLEX.
It was simple, & easy to pronounce in all languages. Immediately, he registered the name of their company in the United Kingdom.
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Soon after, the famous five-pointed crown, also known as The Rolex Coronet, was introduced. Rolex’s classic logo.
Soon after, the famous five-pointed crown, also known as The Rolex Coronet, was introduced. Rolex’s classic logo.
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In 1926, Rolex invented the first ever waterproof wristwatch, named “Oyster.”
In 1926, Rolex invented the first ever waterproof wristwatch, named “Oyster.”
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Hans wanted to market this unique product in the most unique way. So they waited for the right opportunity.
Almost after 11 months, they found one.
Hans wanted to market this unique product in the most unique way. So they waited for the right opportunity.
Almost after 11 months, they found one.
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In November 1927, a young English swimmer called Mercedes Gleitze was to swim across the English channel.
Hans figured out a "timeless PR" move.
They had her wear a Rolex Oyster around her neck while she swam - just to prove that the watch was waterproof.
In November 1927, a young English swimmer called Mercedes Gleitze was to swim across the English channel.
Hans figured out a "timeless PR" move.
They had her wear a Rolex Oyster around her neck while she swam - just to prove that the watch was waterproof.
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As expected, the watch remained in perfect working order despite bearing strong sea conditions for over 10 hours.
Rolex ran a full-page newspaper ad with the story which many regards as the invention of the ‘testimony tactic' in sales and marketing.
As expected, the watch remained in perfect working order despite bearing strong sea conditions for over 10 hours.
Rolex ran a full-page newspaper ad with the story which many regards as the invention of the ‘testimony tactic' in sales and marketing.
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Hans always believed in doing things differently.
"Brands are built over genius marketing" - this was his philosophy.
Hans always believed in doing things differently.
"Brands are built over genius marketing" - this was his philosophy.
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So they went on to do some CARZY marketing for the Oyster.
The first expedition to fly over Mount Everest was equipped with Rolex Oysters.
So they went on to do some CARZY marketing for the Oyster.
The first expedition to fly over Mount Everest was equipped with Rolex Oysters.
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In 1937, Sir Malcolm Campbell broke the world land speed record for the 9 times, wearing his Rolex Oyster.
Rolex, as expected, advertised this brilliantly; to show how wearing a Rolex Oyster, drives men & women to achieve great things.
In 1937, Sir Malcolm Campbell broke the world land speed record for the 9 times, wearing his Rolex Oyster.
Rolex, as expected, advertised this brilliantly; to show how wearing a Rolex Oyster, drives men & women to achieve great things.
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From then, everyone know & was wanted to wear a Rolex in their hands. It was a trustworthy brand.
From then, everyone know & was wanted to wear a Rolex in their hands. It was a trustworthy brand.
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But it was not all sunshine & rainbows for Rolex & Hans. Despite all these achievements Rolex still had to suffer because of its German Founder.
During World War II, Rolex took a hard hit. It was really expensive to export watches to bigger markets in Europe.
But it was not all sunshine & rainbows for Rolex & Hans. Despite all these achievements Rolex still had to suffer because of its German Founder.
During World War II, Rolex took a hard hit. It was really expensive to export watches to bigger markets in Europe.
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Overseeing all these hurdles, by 1946, Rolex had sold 50,000 of its certified watches.
And then in one year, they doubled their sales from the past 2 decades. 100,000 units sold.
Overseeing all these hurdles, by 1946, Rolex had sold 50,000 of its certified watches.
And then in one year, they doubled their sales from the past 2 decades. 100,000 units sold.
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With all this success on one side, Hans went on to become one of the most famous & passionate philanthropists.
After the death of his wife, he set up a charity foundation - Hans Wilsdorf Foundation to support the arts & the sciences, and other social causes
With all this success on one side, Hans went on to become one of the most famous & passionate philanthropists.
After the death of his wife, he set up a charity foundation - Hans Wilsdorf Foundation to support the arts & the sciences, and other social causes
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Shortly before his death, Hans gave 100% of the ownership stake of Rolex to the foundation.
This would be the most secretive charity foundation ever.
Since then, Rolex has been owned and controlled by the Hans Wilsdorf Foundation.
So it can never be sold or go public.
Shortly before his death, Hans gave 100% of the ownership stake of Rolex to the foundation.
This would be the most secretive charity foundation ever.
Since then, Rolex has been owned and controlled by the Hans Wilsdorf Foundation.
So it can never be sold or go public.
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Hans Wilsdorf was a watchmaker who wanted to perfect his craft and share his art with the world.
He wanted to make a difference & leave a lasting legacy of how an orphan, with nothing but his determination, went on to invent the world’s most luxurious watch brand.
Hans Wilsdorf was a watchmaker who wanted to perfect his craft and share his art with the world.
He wanted to make a difference & leave a lasting legacy of how an orphan, with nothing but his determination, went on to invent the world’s most luxurious watch brand.
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Retweet the first tweet of this thread if you enjoyed this story.
Follow me @ValKatayev for lessons in business and life.
Retweet the first tweet of this thread if you enjoyed this story.
Follow me @ValKatayev for lessons in business and life.
https://twitter.com/ValKatayev/status/1618308404057104384
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