Business Breakdowns
Episode 65 Rolex: Timeless Excellence
Business Breakdowns

Episode 65: Rolex: Timeless Excellence

Business Breakdowns

Episode 65

Rolex: Timeless Excellence

Ben Clymer is the founder and executive chairman of HODINKEE. We cover the fascinating history of Rolex, the mechanics of the luxury watch market, and how Rolex marries manufacturing and marketing excellence to separate it from other brands.

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[00:03:01] - [First question] - Ben's favorite Rolex watch ever

[00:04:24] - What makes the Rolex Daytona such a special watch

[00:07:19] - The job-to-be-done for high-end watches beyond just telling them the time

[00:12:18] - The strategy behind marketing luxury products: The Luxury Strategy

[00:14:34] - An overview of the Rolex business

[00:19:38] - The history of Rolex

[00:38:45] - Their genius in marketing and distribution

[00:41:55] - How they make decisions and what others can learn from them

[00:47:14] - The financials of Rolex and other luxury watch brands

[00:49:02} - Most important business lessons others can learn from Rolex

[00:52:54] - Other luxury brands worth studying

[00:57:26] - Negative lessons gleaned from Rolex

Rolex: Timeless Excellence

Introduction

Patrick
Today, we're breaking down one of the strongest brands in the world, Rolex. Founded in the UK in 1905 under the name Wilsdorf and Davis, Rolex has become the leading name in luxury watches. But while the company's products are iconic, the business itself is highly secretive. Owned by a foundation and run as a nonprofit entity, little is known about Rolex. To unlock the secrets, we're delighted to be joined by Ben Clymer, the founder of Hodinkee and an expert on all things luxury watches. Ben has had rare access to Rolex and the people behind the manufacturer, making him the perfect person to dissect the business with us. Please enjoy this excellent breakdown of Rolex.

What Makes A Rolex Special

Patrick
So Ben, I was trying to think of an appropriate first question to break down Rolex. I think it has to be, what is your favorite Rolex watch ever?

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