Why the world's most famous watch brand was once suspected of being a Nazi spy.
Rolex is synonymous with luxury, but its history is defined by survival and secrecy. From navigating wartime accusations and supplying prisoners of war to pioneering waterproof technology and record-breaking deep-sea dives, the company remains a private, trust-owned enigma that produces over a million watches annually while keeping its financials hidden.
Founded in London in 1905 by Hans Wilsdorf and Alfred Davis, the company originally imported Swiss movements into English cases. Wilsdorf, who registered the name 'Rolex' in 1908, moved operations to Geneva in 1919 to escape post-war taxes. The brand’s technical reputation was cemented in 1926 with the 'Oyster,' a waterproof watch marketed through stunts like Mercedes Gleitze’s 1927 English Channel swim. By 1931, Wilsdorf patented the Perpetual rotor, a self-winding mechanism that solved the practical failures of earlier automatic designs.
During World War II, Wilsdorf faced intense scrutiny. Despite being a British citizen since 1911, he was investigated by Geneva police and monitored by MI5 over allegations of Nazi sympathies. To navigate these pressures and circumvent export restrictions, Wilsdorf famously supplied thousands of watches to Allied prisoners of war, with payment deferred until after the conflict. Following his wife’s death in 1944, Wilsdorf placed his shares into the Hans Wilsdorf Foundation, a private trust that has owned and operated the company since his death in 1960.
Today, Rolex operates with extreme vertical integration, producing most components in-house, though it maintains a culture of strict secrecy. Unlike its publicly traded rivals, the company discloses no financial metrics. Its market dominance is reinforced by a controlled dealer network and the strategic use of waiting lists. While the brand is celebrated for its 'tool watch' heritage—including models for deep-sea explorers and aviation pioneers—it also commands the secondary market, with rare vintage pieces like the Paul Newman Daytona fetching millions at auction.
Source: Rolex
