Rolex is the leading name in luxury wristwatches. Based in Geneva, Switzerland the brand relies on more than 4,000 watchmakers in over 100 countries. It is also ranked #72 on the Forbes World list of most valuable brands in the world. Rolex has been facing fierce competition world wide but remains the most recognized name in Swiss watchmaking.
When it comes to Global Marketing Standardization, the company doesn't produce different watches for each different market or country. Rolex sells standardized products world wide, because that's what Rolex clients expect from the brand. A person will be recognized by wearing a Rolex watch everywhere he or she goes in the world, a watch that is made with high quality parts, with unique features that are acknowledged from anyone that appreciates a nice timepiece.
Rolex went global long time ago. The profit margin for the brand hovers around 30% with sales estimated in 4.7 billion dollars.
The target market for Rolex is people with high purchasing power, that being said Rolex does its Global marketing in really specific countries, for example United States, China, Australia and so on. The brand tries to attract costumers from different parts of the world, one way of doing so is by sponsoring sports stars from different ethnic backgrounds such as Tiger Woods (USA), Roger Federer (Switzerland), Li Na (China) and etc. In addition Rolex makes partnership with big sport events, usually in countries where the company sales are higher. These events include Monte-Carlo Rolex masters, Rolex 24 at Daytona and Formula One. Those events are world renowned and attract the type of market Rolex targets.
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