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Thread: So, how does Rolex really spend its profits?

  1. #21
    What I was asking is if anyone knew why two Swiss watch manufacturers (and two pitted directly at each other) both support eyesight charities. It just seemed odd, while we know Wilsdorf picked eyesight I am left wondering if there is a connection to the geographic area or possibly watchmaking. Could it be that given the loss of eyesight meant loss of a job in the watchmaking industry was the genesis? I don't know it is just a curious thing to me.
    I'm unclear that Omega (or even Swatch Group) are pitted against Rolex in any way beyond being two companies in broadly the same sector. There are many watchmakers and if Swatch is pitted against anyone, I'd say it is Seiko. That Swatch choose to maintain market separation through brands, rather than through products, is a matter of historical coincidence, but the two compete at every level.

    There is probably a reason for Wilsdorf choosing blindness, but I don't know it. Certainly many of his choices seem to echo his life experiences and his love of horology and the associated arts.


    Were you saying Omega's efforts are a drop in the ocean compared to charity as a whole, which one would almost have to agree with, or compared to Rolex, that one is left with no answer, only conjecture. Rolex may give 2 times as much, 10,000 times as much there is just no way to know.
    Of course there is away to know. Research it. In this case, we can track the Hans Wilsdorf foundation's giving by seeing what it bought.

    The Hans Wilsdorf Foundation takes a very active role in the social support of people in Geneva. Two minutes on Google will show a profusion of buildings built, projects and good causes funded. Even by Swiss standards, the people of the Canton of Geneva do remarkably well out of Wilsdorf.



    Don't let anything I have said take away from what is my admiration of what Wilsdorf did. For me, like many interested in the Swiss watch industry, I find the inner workings of Rolex to be intriguing, mainly because we don't know much if anything concrete about it, even the number of watches they produce is speculation. Over the years I have read most everything written in English I could find on the Foundation's role vis a vis Rolex SA and alas the pickings are slim. I suppose part of that stems from writing a plan for institutions of higher learning in the US to guide them in explaining the benefits to potential deep pocket donors of bequeathing portions of their estate to the schools after some significant tax changes in the early 90s.
    But most of the information about The Wilsdorf Foundation's work is in Swiss French or Swiss German. These days you don't need a language to get a rough idea, you just need bing or google translate. It doesn't look pretty, but it will get the basics across. There's absolutely oodles of information, because it is hard to hide this sort of organisation's activities It just happens that the majority of the foundation's work is focussed on the Canton of Geneva. In Geneva you can barely move for land bought, buildings built, even, quite famously, major bridges built by them. They are everywhere. As for education...

    I remember an extended thread that ended up agreeing that the average Rolex would only cost a few hundred pounds to make and around the same to advertise and distribute - while you can quibble over the precise or even broad percentages (and personally I think it's actually far less!), there are certainly vast profits to be made. Well this is where the Veblen inflated profits of that fact end up.
    Last edited by Matt; Nov 24, 2014 at 12:51 PM.

  2. #22
    Higher Entity Jeannie's Avatar
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    If you take a look at the links I posted, you will see that Rolex's philanthropy extends across a variety of areas. They support young athletes, thinkers, entrepreneurs, and watchmakers.

    Jeannie

  3. #23
    Dinger of Hum Chronopolitano's Avatar
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    Quote Originally Posted by Jeannie View Post
    If you take a look at the links I posted, you will see that Rolex's philanthropy extends across a variety of areas. They support young athletes, thinkers, entrepreneurs, and watchmakers.

    Jeannie
    So, basically, someone like me would qualify?

    Or, am I too good-looking?

  4. #24
    Quote Originally Posted by Jeannie View Post
    If you take a look at the links I posted, you will see that Rolex's philanthropy extends across a variety of areas. They support young athletes, thinkers, entrepreneurs, and watchmakers.

    Jeannie
    While that's absolutely true, that's Rolex not the Hans Wilsdorf Foundation and looking at each putative example of altruism, I'd say I see either some very astute advertising dressed up as something much cuddlier or funding to meet an urgent need if mechanical watches are to thrive in the US. Maybe I'm just cynical.

    Like any smart organisation, Rolex tries to associate itself with cool things, so Chronopolitano is an obvious shoo in!

  5. #25
    Dinger of Hum Chronopolitano's Avatar
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    Quote Originally Posted by Matt View Post
    While that's absolutely true, that's Rolex not the Hans Wilsdorf Foundation and looking at each putative example of altruism, I'd say I see either some very astute advertising dressed up as something much cuddlier or funding to meet an urgent need if mechanical watches are to thrive in the US. Maybe I'm just cynical.

    Like any smart organisation, Rolex tries to associate itself with cool things, so Chronopolitano is an obvious shoo in!
    Woohoo!


    https://www.youtube.com/watch?v=yCFB2akLh4s

  6. #26
    Quote Originally Posted by Matt View Post
    It's really odd. In some ways Rolex advertising is absolutely outrageous, and yet when it comes to the company themselves, they are really quite private. I'm still astounded that with all the Rolex fanatics out there, this has never been translated before. Except, of course, by Mr Deaton in six months time.
    He won't miss the opportunity for a first!

  7. #27
    Higher Entity Jeannie's Avatar
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    Quote Originally Posted by Matt View Post
    While that's absolutely true, that's Rolex not the Hans Wilsdorf Foundation
    Good point.

    Quote Originally Posted by Matt View Post
    Maybe I'm just cynical.
    That's a given.

    Jeannie

  8. #28
    Quote Originally Posted by Jeannie View Post
    That's a given.
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  9. #29

  10. #30
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    I thought they spent their profits on marketing




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