Rolex signs on as title sponsor for Sydney Hobart Yacht Race
Participating in this sponsorship deal:
About Sponsor:
Rolex SA is an Swiss watchmaking manufacturer of high-quality, luxury wristwatches. Rolex watches are popularly regarded as status symbols and BusinessWeek magazine ranks Rolex No.71 on its 2007 annual list of the 100 most valuable global brands. Rolex is also the largest single luxury watch brand, producing about 2,000 watches per day, with estimated revenues of around US$3 billion .
About Property:
The Sydney to Hobart Yacht Race is hosted by the Cruising Yacht Club of Australia, starting in Sydney on Boxing Day and finishing in Hobart, Tasmania. The race distance is approximately 630 nautical miles . The race is run in co-operation with the Royal Yacht Club of Tasmania, and is widely considered to be one of the most difficult yacht races in the world. The race was initially planned to be a cruise by Peter Luke and some friends who had formed a club for those who enjoyed cruising as opposed to racing, however when a visiting British Royal Navy Officer, Captain John Illingworth, suggested it be made a race, the event was born. The Sydney to Hobart Yacht Race has grown over the decades, since the inaugural race in 1945, to become one of the top three offshore yacht races in the world and it now attracts maxi yachts from all around the globe. The 2004 race marked the 60th running of the event. The current race record was set in 2005 by Wild Oats XI, which crossed the line in a time of 1 day, 18 hours, 40 minutes and 10 seconds.