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Rolex CEO Says Brand Will Stick With Authorized Dealers, Limits Retail Expansion November 25, 2025 (0 comments)

Dubai, UAE--Rolex CEO Jean-Frédéric Dufour said the company will not expand its own retail network beyond Bucherer and Tourneau, emphasizing that authorized dealers will remain the primary sales channel. According to a report by Hodinkee, he called the 2023 Bucherer acquisition a one-off move.

[Image via iStock.com/Yuriy T]

"It's a very small part of our distribution network, we don't have any intention to expand further than that," he said during the keynote address at the Dubai Watch Week. Rolex will continue working with partners such as Seddiqi Holding.

Dufour said the industry needs skilled workers and noted that Rolex has about 500 apprentices across 26 fields. "An industry without newcomers is a little bit of a dying industry," he said.

He warned that brands risk losing relevance if they do not maintain direct, long-term client relationships. Per the report, he pointed to the automotive sector as an example of weakened customer loyalty due to digital sales processes and reduced in-person engagement.

Dufour also addressed the economic pressure on Swiss watchmakers, citing rising gold prices, a strong Swiss franc, and U.S. tariffs on Swiss goods. The report stated that he recently joined Swiss business leaders in Washington, D.C., to discuss the impact of the 39% tariffs. The Trump administration later announced a provisional agreement to reduce tariffs to 15% in exchange for increased U.S. investment in Swiss-linked sectors, though it has not taken effect.

"We had to do it," he said, noting that the tariffs left many companies "frozen."

Dufour provided rare figures on Rolex’s manufacturing spending, saying the company invests about CHF 100 million per year in machinery upgrades that support annual production of roughly 1 million watches. He said Rolex uses Artificial Intelligence for programming and quality control but still relies on human labor for key tasks. Rolex employs more than 15,500 people, with about 80% in Switzerland.

He also discussed the Rolex Certified Pre-Owned program, saying buying, servicing, and selling used watches through authorized dealers supports customer retention and trust. "It's a very long-term commitment," he said.

Read more in this report by Hodinkee here.