Rolex has undeniably become the world’s most beloved mass producer of watches and after 76 years the company is closing its Sandton, Johannesburg office citing the change in “local markets and conjuncture”. The Rolex Watch Company South Africa opened its doors in 1948 in the centre of Johannesburg.
Rolex explained in a statement that it would remain active in the region through its official retailer network, ensuring that customers can still purchase and service Rolex watches.
According to The Citizen, it is possible that smartwatches are making an impact on the watch market.
While watch connoisseurs are mature buyers, and those who need to show off their wealth favour traditional watch brands, the tech savvy and younger generations are inclining towards smartwatches.
Smartphone brands have been highly successful in the smartwatch market although traditional watch brands have not made an impact on the market apart from Tag Heuer with its Connected series.
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