Swiss watch designer and manufacturer Rolex is planning to build a $1 billion new factory in Bulle, Switzerland, that would create 2,000 jobs and “allow it to crank up production,” according to Swiss TV and newspaper reports quoted by IDEX Online.
According to the report, Rolex “currently produces just over 1 million watches a year, but demand always outstrips supply. “
In a recent report, IDEX Online reported that sales of US jewelry and watches in September grew just 1.3% – the lowest level since the Covid lockdowns of 2020. This, according to the report, “paints a grim picture” as “the last time sales growth reached a low point like this was as we emerged from the initial Covid lockdowns.”
