News Montres Rolex recently acquired the entire share capital of Boninchi SA based in Geneva. The company which has been the main supplier of watch crowns to Rolex since 1919 employs 184 persons in Geneva.
"Boninchi will remain independent," Rolex points out. It is not to be integrated into the group structure and will continue to "respect its commitments and honour the orders placed by its many customers in the watchmaking business". The strategy pursued by Boninchi will remain unchanged, the press release continues. This acquisition is part of Rolex's policy of industrial consolidation, enabling it to improve the quality of its products "in a global perspective of development and growth".
July 05, 2001