History of Rolex

Founded: 1905
Founding place: London, United Kingdom
Founded by: Hans Wilsdorf & Alfred Davis
Current headquarters: Les Acasias, Geneva, Switzerland
Owned by: privately held
Official name: Rolex S.A.

Hans Wilsdorf and Alfred Davis

The history of Rolex starts in the 20th century, when the German businessman Hans Wilsdorf founds Wilsdorf & Davis in 1905, together with Alfred Davis. Alfred Davis is Wilsdorf’s brother-in-law, and they import Aegler movements from Switzerland to England.

These movements were placed in high-quality watch cases made by several companies (one of them is Dennison) and sold to jewelers. The jewelers brand those wristwatches with their own names, and most of these pieces were hallmarked “W&D” inside the case back.

Is Alfred Davis a bit written out of the history books?

Strangely enough, nowadays Rolex claims that the history of Rolex starts in 1905, which is correct, but there is not a word about Alfred Davis on their website. While he owned 50 percent of the company, even when it was renamed to Rolex, and he appears to have invested at least as much as Wilsdorf. Maybe even more.

Sure, his role was probably more financial, not technical, however, Wilsdorf’s technical skills were not Breguet level either.

Wilsdorf’s childhood and move to London

Let’s roll back a little to 1881 when Wilsdorf was born in Kulmbach, Germany. His father is a German hardware store owner, his mother a descendant of the Maisel brewing dynasty. At the age of 12 Wilsdorf suddenly becomes an orphan and he and his siblings were left in the care of his aunt and uncle. They sell the family hardware business and placed the proceeds into the Wilsdorf Trust until the heirs reached of age. It is the basis for the Hans Wilsdorf Foundation, which started later in Wilsdorf’s life.

So when he finishes his boarding school at the age of 18, or maybe later, he has some money to invest. Although the story goes that his inheritance, about 33,000 German gold Marks, was stolen when traveling to London, in 1903. But in London, he meets Alfred Davies, who has money to invest. They start Wilsdorf & Davis Ltd. in 1905, and this is where the history of Rolex unofficially starts. Later, Wilsdorf and Davis become relatives when Davis marries Wilsdorf’s younger sister.

What does the name Rolex mean?

In 1908 Wilsdorf & Davis registers the trademark “Rolex” in Switzerland, and in 1912 in England. Wikipedia claims that the company name “Rolex” was registered on 15 November 1915. So technically the history of Rolex 1908 could also be seen as the starting date.

The name Rolex hasn’t any meaning. Rolex is just a fantasy name with one purpose: people throughout the world should be able to pronounce the name. That was the goal of the founders Wilsdorf and Davis. And they succeeded.

Rolex buys a part of the Aegler company

In 1919, Rolex purchases a percentage of the Aegler company in Biel/Bienne, Switzerland, and begins to call itself Aegler S.A. Rolex Watch Company. Now they can control the delivery and quality of movements even more.

In the same year, Wilsdorf buys out Davis and moves the office to Geneva. There it has the name “Rolex Watch Company”, later registered as “Montres Rolex S.A.” on the 17^th of January 1920.

The financial construction behind Rolex

In 1945, after his wife May dies, Wilsdorf founds the Hans Wilsdorf Foundation as he has no heirs. It’s a remarkable moment in the history of Rolex, as the financial construction behind Rolex changes. All shares of the company are moved into the foundation or trust.

Within the trust, strict direction is described on how the company should run after Wilsdorf’s death. This is to ensure that the company would never merge with another company, be sold, or be publicly traded. Wilsdorf also specifies precise directions on the distribution of dividends. Donations to charity in honor of his late wife, for example. And funds for a watchmaking school, a fine arts academy, and business and social science faculty at universities. Funds for the Swiss watch research lab in Neuchatel as well as help to build a language library for blind people, and an exhibition pavilion in Lucerne for animal protection.

Production numbers of Rolex watches

Nowadays, Rolex is the largest single luxury watch brand in the world, producing about 3,400 watches per day. So, they produce about 1,240,000 watches per year (based on their information for the year 2023). The production numbers are based on the 2023 Morgan Stanley Swiss Watch Industry Report. The average price tag of a watch is about +10k (CHF 12,220) for 2023. The total sales for 2023 exceeds CHF 10 billion.

The Rolex Group employs about 14,000 people worldwide, about 9,000 of them work in Switzerland. The headquarters of Rolex are in Les Acacias, a district of Geneva. There they develop and assemble watches. The movements are manufactured in Bienne / Biel, and the dials, cerachrom bezels and inserts, cases, and bracelets are produced in Plan-les-Ouates. Then the gemology and gem-setting expertise is in Chêne-Bourg. Plus they are building a new location in Bulle, ready in 2029, which will be the fifth production location of the Swiss luxury watch manufacturer.

Current ownership of Rolex

The company is still owned by the Hans Wilsdorf Foundation, and according to Wikipedia, does not pay corporate tax. And to celebrate the registration of their brand name in 1908, they release a Rolex 1908 model in 2023 – marking 120 years of Rolex.

The history of Rolex in a timeline

1881 – (22th of March) Birth of Hans Wilsdorf in Kulmbach, Germany
1893 – Wilsdorf becomes an orphan at the age of 12
? – Founding of the Wilsdorf Trust by Wilsdorf’s uncle and aunt
1903 – Wilsdorf moves to London
1905 – Hans Wilsdorf and Alfred Davis found Wilsdorf & Davis Ltd.
1908 – Wilsdorf & Davis registers the trademark “Rolex” in Switzerland
1908 – (2nd of July) Wilsdorf & Davis opens an office in La Chaux-de-Fonds, Switzerland
1910 – Wilsdorf & Davis obtain the first Official Swiss Chronometer certificate
1912 – Wilsdorf & Davis registers Rolex in the United Kingdom
1915 – Name changes in The Rolex Watch Co. Ltd.
1915 – Relocation of the company’s headquarters from London to Bienne, Switzerland
1919 – Rolex buys a part of the Aegler company
1919 – Rolex moves to Geneva, Switzerland
1919 – Wilsdorf buys Davis’ stakes and becomes sole proprietor
1920 – (17th of January) Wilsdorf registers Montres Rolex S.A.
1925 – (2nd of May) Rolex trademarks the crown or coronet logo in Geneva
1925 or 1926 – Buys a patent from Paul Perregaux and Georges Peret for a new winding stem and button/crown
1926 – The name Rolex begins to appear on every dial
1926 – (29th of July) Patents and registers the world’s first waterproof case, the Oyster
1931 – Rolex invents and patents the Perpetual Automatic Rotary Winding Mechanism
1931 – Rolex launches the Oyster Perpetual
1944 – Wilsdorf’s wife May dies
1945 – Founds the Hans Wilsdorf Foundation
1945 – Introduction of the Air-King
1945 – Introduction of the Datejust
1946 – Rolex launches a sub brand called Tudor
1953 – Introduction of the Submariner
1953 – Introduction of the Explorer
1955 – Introduction of the GMT Master
1956 – Introduction of the Day-Date
1956 – Introduction of the Milgauss
1960 – (6th of July) Hans Wilsdorf dies
1963 – Introduction of the Daytona
1967 – Introduction of the Sea-Dweller
1968 – Introduction of the Cellini
1992 – Introduction of the Yacht-Master
2012 – Introduction of the Sky-Dweller
2023 – Introduction of the 1908

The full list of the oldest watch brands in the world might interest you…

Watches from Rolex

Watches from the brand can be found in the Rolex section of this website.