Lecture Notes: History of Rolex and Hans Wilsdorf

Introduction

• Rolex's Valuation: Luxury brand valued at approx. $8 billion.
• Hans Wilsdorf: Founder, orphan teen with a challenging start.

Early Life of Hans Wilsdorf

• Birth: March 22, 1881, in Kulmbach, Germany.
• Family Business: Iron goods, middle range class.
• Tragedy: Orphaned at age 12.
• Education: Ernestinum Coburg in Bavaria; focused on academics.
• Languages: Learned French and English.

Career Beginnings

• Move to Switzerland: Worked at a pearl exporting company.
• Kuno Korten: Joined a watchmaking company in Switzerland.
• London: Moved to England post military service, worked in high-quality watches.

Founding Rolex

• Wilsdorf & Davis Limited: Founded in 1905 with Alfred James Davis.
• Rolex Name: Coined in 1908; aimed for simplicity and elegance.
• Industry Innovation: Pioneering wristwatches over pocket watches.

World War Impact

• World War I: Boosted demand for reliable wristwatches.
• Tax and National Sentiment: Moved headquarters to Switzerland in 1915.

Key Innovations and Marketing

• Rolex Oyster: First waterproof wristwatch (1926).
• Mercedes Gleitze Endorsement: Publicity stunt involving swimming the English Channel.
• Rolex Oyster Perpetual: First waterproof, self-winding wristwatch (1931).

Challenges and Growth

• World War II: Export difficulties; loss of his wife.
• Wilsdorf Foundation: Established as a charitable foundation.

Post-War Success

• Explosive Growth: Post-WWII sales doubled quickly.
• New Models: Rolex Datejust (1945), Rolex Day-Date (mid-50s).
• Rolex Submariner: Released in 1953, deep diving capabilities.

Legacy and Modern Rolex

• Hans Wilsdorf's Death: 1960.
• Luxury Focus: Marketing shift towards high society.
• Innovative Materials: Introduction of 904L steel in 1985.
• Current Status: Rolex as a symbol of luxury and influence.

Conclusion

• Hans Wilsdorf's Impact: Transformed the watch industry and left a lasting legacy.