The luxury watch brand Rolex will close its official store in South Africa in June after 76 years, the company told local newspaper, News24.

Rolex said, "local markets and conjuncture have changed, and no longer warrant the presence of an official Rolex affiliate".

But added that they would remain "active in the region" through their retail network.

The store has been operating in South Africa since 1948.

This change means that all Rolex retailers in the country will have to deal with the head office in Geneva directly.