Rolex watches are worth the wait. Those who have already been waiting for several months or years may have some semblance of good news in the fact that Rolex is reportedly building a new $1 billion factory. The new production site in Bulle could create 2,000 jobs, but the availability of luxury watches (even though it’s more than five years away) has excited us. People have been lusting after the luxury wristwatch ever since the Covid-19 pandemic hit, leaving the ultra-rich with a surplus of moolah owing to no travel and shopping trips. However, there was a worldwide shortage of these darling wristwatches. According to Bloomberg, the Swiss watchmaker will sign on the dotted line for the acquisition of land for the new site next month,
The deal covers two plots spanning nearly 1 million square feet or the equivalent of ten football fields about 14 miles north of Montreux on Lake Geneva. Oliver Curty, president of the Fribourg government, said, “A project of the exceptional magnitude is on track in Bulle with the prestigious company Rolex,” adding the authorities would “ensure that it succeeds.” According to Morgan Stanley, the biggest Swiss luxury watchmaker in the world, with headquarters in Geneva, makes an estimated quantity of about 1 million watches per year, totaling a business of roughly $8 billion in 2021.
The demand for Rolex watches was undoubtedly at an all-time high during the post-pandemic era; however, much like cryptocurrencies, the once red-hot Rolex watches also plummeted in value. In the case of discontinued Rolex watches, the dip has been more with the prices of some models diminishing by as much as 50%. The perpetual unavailability of models also forced luxury watch fans to consider other brands. Perhaps the new production site will change things for the better for both Rolex and its lovers.