In a rare public appearance, CEO Jean-Frédéric Dufour reaffirmed the brand’s wholesale model and urged unity as Swiss watchmakers battle a market downturn. Rolex is doubling down on wholesale, as CEO Jean-Frédéric Dufour says it plans no further expansion in direct-to-consumer retail. Dufour urged Swiss watchmakers to collaborate amid market turbulence, emphasizing shared education efforts and collective visibility. Amid tariffs, currency pressures and weak demand, analysts say Rolex is