Swiss watchmaker Rolex SA, renowned for iconic models like the Submariner and Daytona, has implemented a price increase in the UK while keeping prices unchanged in the US. The Geneva-based company raised prices at UK dealers by an average of approximately 4% at the beginning of the year. This move follows the brand’s usual practice of adjusting prices annually in January.
While the UK saw an average increase of 4%, specific models experienced varying adjustments. For instance, the price of a Rolex Air King model rose from £6,250 in 2023 to £6,500 on January 1, 2024. Notably, prices at US dealers remained unaffected by these adjustments.
Rolex’s decision to raise prices typically occurs once a year, and in 2022, major currency fluctuations led to two price increases in the UK – in January and September. The brand also adjusted prices in European countries twice during that year.
With an annual production exceeding one million timepieces, Rolex is estimated to sell over 9 billion Swiss francs ($10.5 billion) worth of watches annually, constituting approximately 30% of the global luxury Swiss watch market. The recent price adjustments in the UK underscore the brand’s strategic response to market conditions and currency dynamics.
