Rolex has been named as the Official Timekeeper and Official Timepiece for the Formula One group, as part of a long-term deal. The Swiss-based firm will replace Hublot, which was previously the Official Watchmaker of Formula 1. The move is part of a strategic shift by Rolex to focus its sponsorship activities on events with a strong symbolic value and global resonance, which suggests that the company is after the emerging markets of the BRIC economies.
“This is an exciting step for us at Rolex as the fit between Formula 1 and our brand feels very natural and, like all great partnerships, needs little explanation,” said Gian Riccardo Marini, Chief Executive Officer of Rolex SA.
“In our respective fields, Rolex and Formula One embody the spirit of adventure, superlative engineering and a strong desire to push the limits of technology. These aspirations are enormously appealing to younger generations.”
Bernie Ecclestone says that Rolex is “the partner of choice for a world class sporting series like Formula 1″.