Swiss Watch Industry News Update!
As we see the world slowly open back up with COVID-19 prevention process being put into place, we are incredibly excited to see the first steps that the watch industry is opening back up. As with most countries, social distance practice is highly recommended in any industry. But, after 60 days of closure (beginning March 16 which we cover here), Rolex has opened its doors.
Rolex has, in fact, reopened its Swiss headquarters as well as the production sites in Switzerland. Other Swiss watch companies (including Patek Philipe, Swatch Group Brands, LVMH Brands, and Breitling) have also opened their doors - allowing the watchmakers to return.
With health security measures recommended by the Swiss government, Rolex manufacturing cannot return to its full capacity. Rolex rarely releases watch production numbers to the public, but they did note that we may see 160,000 less Rolexes this year (about 16.4% of its yearly releases).
This tells us they aim to release 975,610 models this year (which means they average 1 million a year typically). And with no additional information on new model launches this year, we can hope for Rolex to reconsider.