When you think Rolex, you think class, quality and top of the range. All of these words adequately describe the extremely successful luxury brand. Every business owner starts a business in hopes that they can attain the heights of being a globally acclaimed and legendary brand, but does every business truly know what it takes to get there? These are a few lessons we’ve taken from Rolex’s story and we hope you’ll consider them while building your business.
Rolex has managed to achieve standing out of the box. Completely. They took quality to another level when they moved their entire steel production from 316L stainless steel which most watches use, to 904L a more expensive and complex steel which nobody else uses in 2003. The core difference is in the fact that 904L is more rust and corrosion resistant, and is somewhat harder than other steels. Even more significantly, 904L steel, when worked properly, is able to take and hold polish excellently. By taking a risk and aspiring to retain the greatest quality, the have managed to set themselves apart from the competition making them truly one of a kind. All products go into a stress-test room where watch movements, bracelets, and cases undergo simulated wear and abuse on custom-made machines and robots to ensure your products will last a lifetime. Did you know they also have their own foundry meaning they make their own gold in-house?
Being competent is essential if you want to be the best. Rolex have taken their time to study their manufacturing process, market, and the art of watch making. To prove this statement true, it may or may not surprise you to know that they have their own science lab in order to research new watches, things that can go into watches, and the most effective and efficient manufacturing techniques. They have a chemistry lab full of highly trained scientists busy developing and researching oils and lubricants that they use in machines during the manufacturing process. The lab also consists of multiple electron microscopes and some gas spectrometers that take an extremely close look at metals and other materials to investigate the effects of machining and manufacturing techniques. Competency is the centre of any successful business/ competency is also key for innovation.
Seeing as they’re such a private brand, Rolex doesn’t communicate its operations, production or sales, however, the internet gives us a good indication of the demand. Rolex had done an amazing job at creating exclusivity, and everyone wants to be part of something exclusive. This is a key aspect of luxury branding. People aspire to be affiliated with it because of the cost implications, beauty, reputation and social status that it gives. You want to create something that people want to be a part of.
These Swish made watches that take at least one year to make, and are definitely worth the high spend. If you’re going to build a product or a brand, build something worth remembering; create something legendary.