Rolex completed work on their new watchmaking training center in Texas in 2023, and as of this week they are now accepting applications for its inaugural class. The move is done to foster the growth and development of a new generation of Rolex certified watchmakers in the US, and the need is such that the 18-month technical training course is being offered entirely tuition-free. The only catch? Applicants must live in or be willing to relocate to the RWTC’s physical location in Dallas, Texas, not far from the Rolex Service Center. This investment in the future comes as Rolex is bringing new production facilities online in Switzerland as early as next year, a measured response to the rise in demand the brand has experienced in recent years.
Rolex has a rather unique internal structure, with ownership ultimately falling under the Hans Wilsdorf Foundation, a Swiss non-profit organization. Hans Wilsdorf, the founder of Rolex, set up the foundation in 1945, and in 1960, with no children to hand the business off to, placed his shares into a trust with the simple goal of perpetuating the company. So while Rolex is a for-profit company, they are owned by this charitable trust, the HWF, that contributes a portion of those profits to charitable causes.
Due to this structure, Rolex is less bound by the year on year sales pressures driving many in the industry, but rather makes decisions based on achieving the long term success and perpetuity of the company, thus fulfilling the goals of the HWF. This is largely why we see slower, methodical changes over time rather than quick reactions to trends. The structure also makes private the companies financials, which means we will only ever have approximations as to their yearly production, which is estimated to be slightly north of 1 million units.
During the surge in demand that we’ve witnessed in recent years, Rolex was unwilling to compromise production quality for the sake of increasing the quantities being produced, so plans were made to break ground on new production facilities. With those facilities near completion, Rolex is ready to begin training programs for a new generation of watchmakers.
Accepted applicants will receive an 18 month course consisting of technical and conceptual training, with a 6 month focus on servicing. At the conclusion of the program, students will take final exams at Rolex headquarters, in Geneva. Graduating students will then be eligible for job placement in the Rolex affiliate network. The first classes will begin in September of 2024, and potential applicants can learn more about the program at the RWTC website.