Rolex Distribution Sales show 23% Increase On Last Year
Image source - rolex.com
Sales for The Rolex distribution, service and support in the UK and Ireland, topped £329m last year. This is a 23% increase from 2016, which equates to a massive £268m rise in sales
The figures are only is based on the WHOLESALE prices for Rolex and Tudor’s the authorised dealers pay the company, not the profit made by the jewellers selling to the public, though sales at retail are certain to have exceeded half a billion pounds for the first time.
Operating profit saw its strongest ever growth last year too as it rose by 86%, from £22m in 2016 to £42m in the year ending December 31, 2017.
Image source - WatchPro
As well as Rolex and its shareholders, the other big winner in this news is Her Majesty’s Revenue & Customs.
It was revealed that Rolex Watch Company Ltd paid £8.06 million, twice as much tax in 2017 as it did the year before. In a statement, Rolex said that they were a “responsible tax payer who is committed to being compliant with tax law and practice in the UK”.
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Source: WatchPro - BREAKING NEWS: Rolex UK sales rocket to £329 million