New Rolex Factory to Be Completed in Switzerland by 2029 Spells Good News for Antwerp Diamond Trade

Rolex a notable brand and player in the Antwerp diamond scene has reportedly bought 100,000 square meters of land in Bulle the equivalent of ten football fields about fourteen miles north of Montreux on Lake Geneva, in Western Switzerland. To keep up with increased global demand for their signature watches the company has plans to build a facility employing up to 2,000 people.
Rolex currently employs around 30,000 people, according to industry sources.
The Swiss watchmaker has not confirmed news of the Bulle development, which was broken by state broadcaster RTS, but Olivier Curty, president of the state council for Fribourg, the Swiss canton that will house the new facility, is enthusiastic about the upcoming project.
He described the Rolex plant as a “project of the exceptional magnitude,” adding that “the project is on the right track and the Fribourg authorities will do everything to ensure that it succeeds.”
According to Morgan Stanley, the biggest Swiss luxury watchmaker in the world, with headquarters in Geneva, makes an estimated quantity of about one million watches per year, totalling a business of roughly $8 billion in 2021.

Source: RTS & Bloomberg News
Photo Credit: RTS