WATCH TALK FORUMS banner

1 - 20 of 32 Posts

·
Registered
Joined
·
16,752 Posts
Discussion Starter #1
February 07, 2008

Rolex has granted $1 million to the watchmaking and microtechnology program at Oklahoma State University in Okmulgee, which it will distribute over the course of five years.

Donating to watchmaking education is nothing new for Rolex, a brand that established a $1 million, five-year grant for North Seattle Community College in Washington back in 2000, and renewed its grant in 2005.

Furthermore, in 2001, Rolex established its own Lititz Watch Technicum in Pennsylvania, a nonprofit foundation that has graduated more than 50 watchmakers for the industry thus far. In addition, Rolex pledged a $1 million, five-year grant in 2004 to support the Saint Paul College watchmaking program in Minnesota.

Rolex also operates the Tokyo Watch Technicum in Japan as well as the Rolex Training Centre in Mumbai, India.
 

·
Registered
Joined
·
788 Posts
That's cool, but as much as they make, do they donate to other good causes (such as Hospitals, because the US doesn't have universal health care)? Why not use that money and make some new designs, or new technology? In terms of a company like Rolex, 1 mil isn't much....

Still not impressed with that company... IMO.
 

·
Registered
Joined
·
16,752 Posts
Discussion Starter #4
Nick, I'm not a huge Rolex fan, either. But it's nice to see any company investing in horological education (even if it's self-serving), especially in America.
Rolex is actually a charitable trust. But I have no idea where they spend the dough.
 

·
Registered
Joined
·
788 Posts
It is nice to provide an opportunity for learning.. I like education...

I don't hate the brand... just not that impressed by them.. I won't go further for fear of flames!
 

·
Registered
Joined
·
16,752 Posts
Discussion Starter #7
Nah, we can speak our minds here, Nick.
Rolex has a wonderful history and was very innovative. But even the biggest Coronet fan will concede the brand hasn't been that innovative in the last 25 years or so.
Of course, they'd say it's tough to improve on perfection!
 

·
Registered
Joined
·
3,345 Posts
we must remember that their timeless designs have helped rolex to be where they are now.
thats my favorite thing about rolex, my daytona is from 2001, in the next 20 years will be the same watch. thats value too.
 

·
Registered
Joined
·
788 Posts
True, their designs are the most copied in the world... one thing Rolex does well is ensuring resale value... either by keeping a design the same or raising their prices every year...

No doubt they are great, but I'm just not into the price/feature ratio... but... if I ever did buy one... I know I'd never lose much $$$'s on it.
 

·
Banned
Joined
·
2,874 Posts
My profession involves reporting on companies big and small. Granted that in the scheme of things, $1 million is probably a teeny percentage of Rolex's revenues. But for any company to donate that sum to one group IS a big deal.
 

·
Registered
Joined
·
3,126 Posts
I don't own a Rolex....I probably never will...but...

Rolex makes most of their contributions through The Rolex Institute. It is very generous for them to make a contribution in our country. How many other Swiss watch companies are making large contributions here?...I have never based the reason of buying a watch from a company based upon their charitable giving patterns. Who here has?

Rolex , like it or not, has earned their reputation in the watch business....A position that many companies from ALL industries covet and few will ever attain..It goes beyond the watches (you don't have to like them) but anyone who takes the time to know the whole story and likes the watch business has to respect what this company has attained and maintained in the business world.

My hat is off, and I salute you Rolex!
 

·
Registered
Joined
·
5,011 Posts
Rolex's contribution to education in horology is not limited to the US alone. They have a number of WOSTEP program all over the world.

Yes, I agree Rolex watches kinda looks boring. Still I cant help but admire some of their winners. Their GMT remains one of the best examples of true GMT, although Omega's GMT is more affordable in the mechanical/automatic class.
 

·
Registered
Joined
·
1,845 Posts
I can't remember where I read it but recently I did read something about watch makers becoming a dieing breed. That Rolex would do this not only could serve them but it also serves the industry world wide and in other brands! My hat is off to Rolex for this.

And as already mentioned, Rolex is the most copied brand in the industry. Resale value is something that makes Rolex as much of if not more of an investment than simply a purchase. I own only one and it was a factory reconditioned watch. That cut the price in about half. And, I did not have to pay that because my wife purchased it for me! :w00t: Also, I know that I can get between 70 to 80% of that price back without a problem on a resale right now. Of course if I did sell it, I would get kicked out of the house!:crying: I can not see that kind of return for a used watch on any of my other pieces, Seiko to Invicta. I did in fact have one other Rolex but only owned it a few days because I was offered more than I payed for it and I let it go. It is the only watch I have ever sold for more than I payed for it.

Still, I am not a Rolex fan to the point where I want more. If I were to get the bug for another one, I would most likely sell the one I own and replace it after the sale. I always wanted one but it was not like potato chips, I could in fact just have one!:lol: For the cost of the least expensive Rolex I could find I could purchase several really nice pieces and I would rather have 5 to 10 new watches than just one more.

My only Rolex
 

·
Registered
Joined
·
6,016 Posts
Rolex is just one of many luxury brands from which to choose. If you like their watches, you buy one. If not, you look to another house. Fortunately for watch aficionados there are many choices. I have never really fully understood the Rolex bashing. It reminds me of sports fans, cheering the home team and demonizing the opponent.
 

·
Premium Member
Joined
·
24,995 Posts
That's cool, but as much as they make, do they donate to other good causes (such as Hospitals, because the US doesn't have universal health care)? Why not use that money and make some new designs, or new technology? In terms of a company like Rolex, 1 mil isn't much....

Still not impressed with that company... IMO.
I can't ever recall Invicta really doing much charitably...nothing to the degree Rolex does which does donate to many, many worthy causes (see LarryD's thread on their work in Alzheimers as an example).

Love 'em or hate 'em, but they do more charitable work than any other watch company.
 

·
Registered
Joined
·
788 Posts
Well, I'll be taking those words put in, back out of my mouth thanks..

I never said Invicta did anything charitable, I doubt they do at all...

I mean, congrats on the most recognized watch in the world putting out a little of their profits...

But don't assume I have Invicta on some pedestal, assuming makes neither of us look very smart.

Edit:
Just one more thing....
Do you really expect a company with smaller profit margins (not just Invicta here since you mentioned it) to really keep up with the king of profit?
 

·
Registered
Joined
·
1,704 Posts
Rolex is a private company, they do what they want both with their watches and their profits. I happen to appreciate both of their pursuits.

I personally think Rolex has really kicked it up a notch. Instead of just paying actors and personalities to be their brand ambassadors, they have used their resources to support scientists, musicians, researches, human rights activists, and others that serve the public good.
 
1 - 20 of 32 Posts
Top