Rolex CEO says Bucherer will not replace retail partners
Jean-Frédéric Dufour, CEO of Rolex, addressed concerns during the Dubai Watch Week, emphasizing that Bucherer, its retail partner since 2023, will not replace Rolex's existing wholesale partners. He highlighted the importance of these partnerships in building Rolex's success and stated that Bucherer is a small part of their business. Despite challenges faced by the Swiss watch industry, including economic headwinds and slowed growth in the UK market, Dufour remained optimistic about Rolex's market share and partnerships. Dufour described running Rolex as a thrilling yet challenging experience, akin to "driving at 200 kilometres per hour in the fog." He acknowledged that while Rolex continues to gain market share, it is not immune to broader economic issues affecting the luxury sector. His statements reaffirmed Rolex's commitment to maintaining strong relationships with its trusted retailers, such as Seddiqi Holdings, rather than expanding Bucherer's influence in the market.
