LUX URY MARKET
LUXURY- A LUXURY ITEM IS SOMETHING EXPENSIVE WHICH IS NOT NECESSARY BUT WHICH GIVES YOU PLEASURE.
Rolex -Swiss watch company that manufactures watches and accessories under the brand Rolex SA is a Swiss manufacturer of high-quality, luxury wristwatches. In 1905 Hans Wilsdorf and his brother-in-law Alfred Davis founded "Wilsdorf and Davis" in London. Their main business at the time was importing Hermann Aegler's Swiss movements to England placing them in quality watch cases made by Dennison and others. These early wristwatches were sold to jewellers, who then put their own names on the dial. The earliest watches from Wilsdorf and Davis were usually hallmarked "W&D" inside the caseback.
Rolex watches are popularly regarded as status symbols and Business. Week magazine ranks Rolex #71 on its 2007 annual list of the 100 most valuable global brands. Rolex is also the largest single luxury watch brand, producing about 2, 000 watches per day, with estimated revenues of around US$3 billion (£ 1. 75) (3. 02 CHF billion) (2003 figures).
IN 1908 ILSDORF REGISTERED THE TRADEMARK ROLEX" W " AND OPENED AN OFFICE IN A CHAUX-DE- ONDS, L F SWITZERLAND. THE COMPANY NAME " OLEX" WAS R REGISTERED ON 15 OVEMBER 1915. HE WORD WAS N T MADE UP, BUT ITS ORIGIN IS OBSCURE. ILSDORF WAS SAID W TO WANT HIS WATCH BRAND'S NAME TO BE EASILY PRONOUNCEABLE IN ANY LANGUAGEHE ALSO THOUGHT. THAT THE NAME " OLEX" WAS ONOMATOPOEIC, SOUNDING R LIKE A WATCH BEING WOUND. T WAS ALSO SHORT ENOUGH I TO FIT ON THE FACE OF A WATCH. NE STORY, NEVER O CONFIRMED BY WILSDORF, IS THAT THE NAME CAME FROM THE FRENCH PHRASE HORLOGERIE EXQUISE, MEANING "EXQUISITE CLOCKWORK". THE BOOK THE BEST OF TIME: ROLEX WRISTWATCHES: AN UNAUTHORIZED HISTORY BY JEFFREY P. HESS AND JAMES DOWLING SAYS THAT THE NAME WAS JUST MADE UP.
Branding has its own associative standards, for demonstration "Rolex" watches are glimpsed as very prestigious and extravagant timepieces while a "Casio" is furthermore a timepiece but is glimpsed with less prestige and value. A "Rolex" timepiece can convey large additions of cash even for the cheapest form while a "Casio" at its most costly is still worth a part of the cost of a "Rolex". The "Rolex" can be said to be a Symbolic emblem while the "Casio" is more of a purposeful brand. The worldwide communications business has been changing all through the past twosome of years, and rather dramatically. Wireless attachment, as a conclusion, verifies to be a moderately hot locality for telecom suppliers.
Accordingly, the demand for handset items, from enterprises to purchasers expands to rise. The investigation is how handset manufacturers have fit their worldwide trading schemes to win common acceptance as affray intensifies. The enquiry best characteristics Rolex's newest accomplishment is a very common case in topic to the overhead question.
GLOBAL MARKET: Rolex is having 36% of market share. 64% includes Lacoste, Dior, Richemont, Swatch, etc. 22% affluent customers in China owns Rolex watch. 66% includes the rest of the countries. China is the biggest market for Rolex.
INNOVATIONS: First water-proof watch case. First wrist watch with date on a dial First watch to show two time zones at once. First watch makers to earn chronometer certification for awrist watch. First watch company to create first water resistant watch to 330 ft. First watch makers to produce the self-winding watch in 1928. First watch makers to introduce Helium Release Valve. Technology to release helium gas build-up duringcompression.
COMPETITORS: LVMH – Paris, France. MOVADO Group – Paramus, NJ. Richemont – Geneva, Switzerland. Carteir Breitling Giordano Longines Citizen
THANK YOU!