...factory to produce a large range of in house movements. They are actually moving away from quartz and "upscaling" their watches to try to compete at the higher end of the non-bejeweled watch market, i.e. tourbillon and other in house complications.
I think it all comes down to the fact that very rich are still very rich.
Those who could afford the high end stuff before the crash can still afford it.
That is the demographic these elite Swiss marques--PP, Rolex, AP, VC, PAM and now Cartier--are aiming for.
I think the era of the young striver saving up for a steel Datejust may be coming to an end since list on a steel DJ is now around $6.5k USD or more. Heck, an Air-King is over $5k!
Rolex doesn't need or seem to want that sort of "entry level" business anymore unless that entry level entrant can afford the price of ownership right off the bat.
For good or for ill, it's a 1% world these days and Rolex and the others are catering to it. And they seem to be making gobs of money off it regardless of the serious economic problems facing much of the world.