So the news started as a rumor that Jean-Frederic Dudour was to be named as the new CEO of Rolex. Jean-Frederic Dufour who was first the CEO of Zenith is now taking charge of Rolex. Rolex Geneva office confirmed this news and is 100% authentic. Dufour is replacing the current CEO of Rolex; Gian Riccardo Marini. He served Rolex since 2011, he was first the director of Rolex Italy.
All eyes are now on Dufour and how he plans and executes his ideas. He has a good reputation because of his previous work at Zenith. When he started working at Zenith it was close to being dead, but he revived the company and did a tremendous job. At Zenith he refocused on the product lines he brought back classic and traditional designs to boost sales. All attention is on the new CEO and how he brings some new and innovative ideas to Rolex.
Dufour has previously been a part of Chopard, Swatch group and Ulysse Nardin. In this age of modernism and innovation Rolex seems to have missed a step or two and is therefore now facing fierce competition from Swatch who is now leading the world of watches. The main reason behind Rolex’s sales and slow growth is because of Chinese Government clamping of bribery and putting a stop to extravagant show of government officials. Rolex is facing more competition than ever because of the increased sales and exports of Swiss watches. The Swiss watch exports have increased by 1.9 percent in 213, this is the slowest growth since the financial crisis.
Jean-Frederic Dufour is the 6th CEO of Rolex, Rolex up till 2008 was run by the Heiniger family for over half a century.
Everyone is excited to see the impact of this succession. All eyes are set on Dufour and he has to prove himself by taking on a unique approach to put Rolex back on top. Only time will tell how Dufour will take Rolex back to the top. There is a lot of work to do, we will see if he takes on the same strategy as he did with zenith or a different one. The future of Rolex is now in his hands and he will have to work hard and smart to return Rolex its glory as well as catch up with the ever speeding and fast developing watch industry.