The Truth About Rolex Being a Non-Profit Organization
October 27, 2023
Rolex is a brand that is synonymous with luxury, precision, and elegance. The Swiss watchmaker has been a symbol of status and success for generations, and its watches are often considered heirloom pieces to be passed down through families. But did you know that Rolex is actually a non-profit organization?
The non-profit behind Rolex
100% of Rolex is owned by the Wilsdorf Foundation, a non-profit organization. The Wilsdorf Foundation was established in 1945 by Hans Wilsdorf, the founder of Rolex, to ensure the long-term survival of the company and to continue its legacy after his passing. The foundation is based in Geneva, Switzerland, and is the sole owner of Rolex SA.
The foundation is run by a board of trustees, who are responsible for managing and investing the assets of the foundation. The board members include individuals from various backgrounds, such as finance, law, and academia.
In addition to supporting charitable causes in the fields of education, science, and the arts, the Wilsdorf Foundation also provides funding for research and development in the watchmaking industry. The foundation has established partnerships with leading universities and research institutions to advance the science and technology of watchmaking.
Where do the profits go?
Rolex may be a non-profit organization, but it still makes millions in profits every year. How does this work? Rolex reinvests most of its profits back into the company to create more watches, hire employees, and do marketing. This allows Rolex to continue growing its brand and reputation while also giving back to society.
In addition to reinvesting in the company, Rolex also donates a portion of its profits to various charities around the world. The Wilsdorf Foundation's mission is to support causes that are important to Rolex, such as education, science, and the arts. For example, the foundation has donated to the National Geographic Society, the Royal Opera House in London, and the Perimeter Institute for Theoretical Physics in Canada. By supporting these organizations, Rolex is able to make a positive impact in the world and give back to society.
Rolex also supports various sports events and organizations around the world. For instance, Rolex has been the official timekeeper of Wimbledon since 1978, and sponsors other events such as the U.S. Open, the Australian Open, and the Monte Carlo Masters. By sponsoring these events, Rolex is able to increase brand awareness and engage with its target audience.
In conclusion, Rolex is more than just a luxury watch brand. As a non-profit organization, Rolex is committed to making a positive impact in the world. By reinvesting most of its profits back into the company and donating to various charities, Rolex is able to create more watches, hire employees, and give back to society. Additionally, by sponsoring various sports events and organizations, Rolex is able to increase brand awareness and engage with its target audience. So the next time you see a Rolex watch, remember that there's more to the brand than meets the eye.
About the Author
Niklas loves simplicity and design. As a co-founder of Felloz he takes on design and marketing challenges and shares them with the community.