Rolex Will Extend The Warranty To 5 Years From 7/1. Will It Become The New Standard For The Swiss Watch Industry Warranty Policy?
According to foreign news reports, starting from July 1, 2015, Rolex extended the warranty period of the product from the current two years to five years, and from July 1, 2013 to June 2015 Rolex products purchased during the 30th period will also extend the warranty period by one year to a three-year warranty.
It remains to be seen whether Rolex’s new warranty policy will drive the Swiss watch industry to follow up, but in fact, in recent years, some brands have also used extended warranty as a marketing strategy to increase the added value of products and market competitiveness.
For example, OMEGA offers a 4-year warranty on models equipped with Co-Axial coaxial escapement movements and silicon balance springs. Breitling also offers a five-year warranty on models equipped with its own movement. Richard Mille provides free repair service for the first 3 years plus a 2-year warranty for a total of 5 years.
However, other brands are mostly two-year warranty. Therefore, as the most influential brand, Rolex’s policy of extending the warranty period will not lead to the follow-up of the entire Swiss watch industry, at least Will have a significant impact within the industry.