For one of the most discreet, and rarely quoted, executives in the Swiss watch industry, Rolex CEO Jean-Frédéric Dufour was surprisingly candid and controversial in an interview with Swiss newspaper NZZ ahead of this week’s Watches and Wonders.
As part of a small group of leaders from Cartier, Rolex and Patek Philippe that are judge, jury and executioner on which brands can appear at the Geneva fair, Mr Dufour makes the case that Watches and Wonders is a force for good for the whole Swiss watch industry.
So much so that he wishes Rolex’s direct rivals, Omega, and other Swatch Group brands, would participate in the annual jamboree.
Not so much the brands that were not given permission to take part in W&W, and have instead taken over hotel suites, boutiques and even a university hall, to present their 2024 novelties in the same week as the main show.
“We call them pirates”
Rolex CEO Jean-Frédéric Dufour on brands showcasing their novelties around the city of Geneva at the same time as Watches and Wonders
Journalists, who in many cases (including WatchPro‘s team) have their flights and hotel bills paid for by Watches and Wonders, are targeted by the brands showing around Lake Geneva and the rest of the city to get a bit of a free ride from the investment made in the global coverage that flows from hosting thousands of reporters from around the world.
“We call them pirates. But that’s okay,” Mr Dufour says in reference to these brands coat-tailing on the investment from the brands at Watches and Wonders.
The rebuke will sting companies that feel they are contributing to a city- or even nationwide celebration of Swiss watchmaking, many of whom have tried and failed to get into the main show.
It also feels at odds with a mission by the Watches and Wonders Foundation, a non-profit organisation, to be inclusive and supportive of the entire Swiss watch industry.
This year it has a number of public events around the city of Geneva including a new Watchmaking Village offering cultural and educational activities and acting as a starting point for guided tours that will raise awareness of the watchmaking heritage of Geneva.
The biggest day and night is Thursday April 11, when Geneva will be alive with street entertainment, artists, and a concert performance by the famous DJ Lost Frequencies by the lake at 8:30pm.
Lets see now. I’m an independent watch maker with little money nor invitation to the big show. And I am a pirate for taking advantage of the increased crowds the show brings to the city? This coming from the head pirate of the watch industry. Shame on Rolex.
This statement is typical of an arrogant brand clearly run by arrogant people. Rolex does not own the city of Geneva, and neither does W&W. This is the ultimate proof of what’s wrong with the watch industry. The same old dinosaurs trying to run everything with little or no regard for watchmaking in general.
If brands show initiative and decide to set up in hotels – this approach should be applauded as it’s good for the industry and the city of Geneva!
Another reason to steer clear of Rolex. I mean, seriously, screw those guys.
Rolex CEO Jean-Frédéric Dufour are you upset not everyone cares to invest in Rolex? Id rather own a Breguet Classique!
Maybe omega and the Swatch group don’t wish to be acossiated with the arrogance that is clearly on show. Maybe omega should take over a full hotel and show “the wonders of watches ” in the same week open to all
Pretty shameful from a company that has totally lost touch with its roots. I’m sure the Breguets, Ulysse Nardins and and Blancpains of the industry pooh-poohed the little “British” upstart with its ugly, sturdy steel watches and borrowed movements back in the day, too. Now a corporate advertising juggernaut producing a million grossly overpriced watches a year that nobody can actually buy. Should we mention the family trust? No? OK….
@Alex.
The family trust? Do you mean the foundation, or is there a for-profit entity lurking in the shadows? Do dish.
I second Mr. Gerber! Enough of the Rolex BS. Breguet is levels of haute’ horology above Rolex – A poor attempt at Guilloche with the “New” 1908 this year as well.
Ironically, I am at a Carl F. Bucherer presentation in downtown Geneva. A Rolex-owned pirate?