Rolex closes all manufacturing plants as COVID-19 spreads across Europe. 

Rolex announced the shutdown of all its plants in Switzerland for at least 10 days since Tuesday.

This is coming on the heels of the postponement of the world’s biggest watch and jewellery show, Baselworld, early this month. 

The watch industry was just adjusting to the slump from political protests in, Hong Kong, when it was hit by the coronavirus outbreak.

Now, as Rolex closes its plants, Richemont is offering price reduction as much as 49% for second-hand Cartier timepieces in a one-week special offer on its vintage resale site, Watchfinder.

This is not the first time that the watch industry will experience a major setback. With the Coronavirus epidemic, Rolex, Omega and Cartier now face a combination of economic punches.