Is Timex older than Rolex?

Could you elaborate on the history of both Timex and Rolex and provide some insight into which brand has a longer legacy? It's intriguing to consider the origins and evolution of these two prestigious watchmakers, and I'm curious to learn which one predates the other. Is there a significant difference in their founding dates, or are they relatively close in terms of their age? Understanding the historical context behind these brands could offer valuable insights into their development and position in the luxury watch market.