Rolex Hellas achieved a significant 12.6% increase in turnover in 2023, reaching €93 million, with net profits before tax rising to €9.1 million. The company also bolstered its reserves with an additional €10.5 million for the year.
Despite facing global inflation and geopolitical uncertainties, Rolex Hellas has continued to excel, with sales surpassing expectations. The company’s financial report underscores the importance of maintaining timely supply, particularly during peak summer periods, to meet high demand.
Gross profit for Rolex Hellas climbed to €17.9 million, reflecting a 12.8% increase from the previous year, while its sales share grew to 19.3%. However, net profit after tax experienced a modest decline, settling at €6.66 million.
The robust financial performance enabled Rolex Hellas to declare a €6 million dividend to its parent company, Rolex Holding S.A. This dividend includes €3.7 million from 2023 profits and €2.3 million from previous years.
The company has resolved past issues, including a robbery of 24 luxury watches valued at €134,720.13 from its Athens store, through compensation.
Operating two retail stores and a service department, Rolex Hellas is committed to enhancing its brand image and distributor support. This includes ongoing training for its distributor network and stringent measures against counterfeit goods.
The report also highlights the growing popularity of Tudor watches, driven by innovative designs and global marketing initiatives, which have helped expand the brand’s market share in Greece.
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