Rolex store in Hong Kong.

[Art 1]

According to this months Nat. Geo. magazine they sell 200 watches, per day.

Amazing.

[perpetualman88]

do you have a link of the article online Art?

[Art 1]

Originally Posted by perpetualman88

do you have a link of the article online Art?

No, I'm old fashioned and subscribe to the actual magazine. It's in the June issue.

[travisb]

Never would I think that any AD could do that.

[sleddog]

I would have to wonder if it was a tally of all watches, from all brands being sold in the store..?
Or, If it's a Rolex Boutique, than that's a roaring trade!!

[RX0-Unicorn]

Here is the link:
http://ngm.nationalgeographic.com/20...paterniti-text

[Art 1]

Originally Posted by RX0-Unicorn

Here is the link:
http://ngm.nationalgeographic.com/20...paterniti-text

There it is, thanks.

[caryyee]

200 watches a day?? Even if it was amongst all brands, that's a huge number! If the store is open 10 hrs a day, that's 20 watches an hour, one every 3 mins????

[texex91]

I find that VERY hard to believe.

Top 1-2 AD's (with single stores) in the US are doing 1000 per year.

You're saying one store in HK sells 73,000 Rolex in year

I'm sure NG got caught up in a nice article...but not reality.

[Art 1]

Originally Posted by texex91

I find that VERY hard to believe.

Top 1-2 AD's (with single stores) in the US are doing 1000 per year.

You're saying one store in HK sells 73,000 Rolex in year

I'm sure NG got caught up in a nice article...but not reality.

The place I know was doing about 4 per day, when times where better. Over 1000 per year.

[Starwalker]

Originally Posted by texex91

I find that VERY hard to believe.

Top 1-2 AD's (with single stores) in the US are doing 1000 per year.

You're saying one store in HK sells 73,000 Rolex in year

I'm sure NG got caught up in a nice article...but not reality.

I dont find it hard to believe at all. Have you been to Hong Kong?

[texex91]

Originally Posted by Starwalker

I dont find it hard to believe at all. Have you been to Hong Kong?

Many times.

Great place.

Don't know ONE store is selling this many in a day, but hey keep selling.

All is good to me...

[Reu]

Originally Posted by texex91

I find that VERY hard to believe.

Top 1-2 AD's (with single stores) in the US are doing 1000 per year.

You're saying one store in HK sells 73,000 Rolex in year

I'm sure NG got caught up in a nice article...but not reality.

I agree.

[RolexWatcher]

I am not sure if Rolex sells 200 per day but it must be a high number.

At Canton Road in Kowloon, HK, people are literally QUEUING all day to buy stuff in those European brand stores (e.g. LV, Chanel, Gucci, etc).

Some news reporters interviewed some of them and they said they bring around USD15,000 to buy stuff! Crazy...I guess many are from Mainland China and so it is like a holiday purchase.

Need to take a picture for TRF...it's an amazing scene

[xxm]

Yes, it is ture.
I live in HK and HK are always the shopping paradies. The buying power are actually coming from the mainland in the recent year. 200pcs / day / shop should be the high number but its ture.
China are very hot in currency.

Originally Posted by RolexWatcher

I am not sure if Rolex sells 200 per day but it must be a high number.

At Canton Road in Kowloon, HK, people are literally QUEUING all day to buy stuff in those European brand stores (e.g. LV, Chanel, Gucci, etc).

Some news reporters interviewed some of them and they said they bring around USD15,000 to buy stuff! Crazy...I guess many are from Mainland China and so it is like a holiday purchase.

Need to take a picture for TRF...it's an amazing scene

[taskitan]

Originally Posted by RolexWatcher

Need to take a picture for TRF...it's an amazing scene

I would be keen to catch a glimpse! Hardly enough people in NZ. Unless you're on Queens street in Auckland. LOL.

[Dr. Robert]

Maybe Mike Wood shops there....he has a few Rolex watches???????

[boost2perfection]

Interesting... i bought my last 2 Rolex in HK ;)

[Sig228]

The quote comes from guy who is an event planner. I doubt if he has actual knowledge of the store's sales.

[jolimont]

I believe it
There is a lot of loose $$$ in HK from tourists.

[inspires]

I'm not surprised at all, as with all the Mainland Chinese going to HK to shop for luxury goods. You also have to take into account those that purchase more than one watch per transaction. I was once at one of my AD's and the Mainland Chinese family next to me purchased 8 in one transaction, settling the bill with RMB Cash.

[wokafu]

Originally Posted by inspires

I'm not surprised at all, as with all the Mainland Chinese going to HK to shop for luxury goods. You also have to take into account those that purchase more than one watch per transaction. I was once at one of my AD's and the Mainland Chinese family next to me purchased 8 in one transaction, settling the bill with RMB Cash.

i agree...my last visit believe it or not i saw one wearing 1 around each corner..rolexes are like mobile phone in hk...but 200 a day is a crazy number nonetheless

[Speed]

Wonder what the "Average discount" is on a SS Rolex Sports watch at that AD?

[bondtoys]

Originally Posted by Speed

Wonder what the "Average discount" is on a SS Rolex Sports watch at that AD?

Exactly 0.0% !

I have tried twice - no chance!

I have never seen so many Rolex watches at one place like there, the tables are filled with watches-amazing!

I' d say that they sell these 200 watches on peak days and it's amazing, that the lines in front of stores are back.
I have tried to take a pic of the line in front of the Hermes store in april and one guy went off the line to keep me off from doing so.

Guess that he did not want to be seen in the nex spending his cash in HK.
He was the clichees guy with a LV cap dand D&G shirt

[Speed]

Originally Posted by bondtoys

Exactly 0.0% !

I have tried twice - no chance!

I have never seen so many Rolex watches at one place like there, the tables are filled with watches-amazing!

I' d say that they sell these 200 watches on peak days and it's amazing, that the lines in front of stores are back.
I have tried to take a pic of the line in front of the Hermes store in april and one guy went off the line to keep me off from doing so.

Guess that he did not want to be seen in the nex spending his cash in HK.
He was the clichees guy with a LV cap dand D&G shirt

Thanks...but I was completely kidding. I am making light of all the Discount threads on TRF.

[IWantOne]

Originally Posted by Speed

Wonder what the "Average discount" is on a SS
Rolex Sports watch at that AD?

Probably zero but I was in HK earlier this year and was offer 5% off a Sub 14060M at Emperor Watch & Jewellery (AD) shop Time Square in Causeway Bay.

I believe there is 3 Rolex boutiques within a space 500 meters on Canton Road in Tsim Sha Tsui probably with my drool still on their display windows

[Auragentum]

Originally Posted by inspires

I'm not surprised at all, as with all the Mainland Chinese going to HK to shop for luxury goods. You also have to take into account those that purchase more than one watch per transaction. I was once at one of my AD's and the Mainland Chinese family next to me purchased 8 in one transaction, settling the bill with RMB Cash.

Spot on!

High(er) end watches are literally overpriced in China due to luxury taxes and hence the Chinese go abroad for their purchases and HK is a convenient spot. Don't know whether the numbers are exaggerated somewhat but I know for a fact that any AD (be it Rolex or higher end brands like AP, VC, PP) are doing extremely well due to Chinese customers. All the swanky stores where I frequent have long hired (at least 4 years ago) Chinese mandarin speaking staff to solely cater to the PRC crowd. Be it Gucci, Louis Vuitton, Rolex, PP/VC/AP, Hermes, you name it.

Then again there are those ridiculously rich Chinese who don't care about the higher prices and just buy in bulk locally

In some cases the stores would be turning the key if it wasn't for the Chinese customers - who are offsetting the declining sales to local customers. So they may not necessarily be doing that much more business.

But it's funny to sometime witness how a presumptuous and "overdressed" local customer being offended, when he is given less attention than the Chinese guy who is very unassuming looking, but is carrying a bag strapped with cash!

Believe the hype.

[tom2517]

It's possible, given that Hong Kong is the world's largest market for Swiss watches, they absorbed more than 1/5th of Swiss watches made (in terms of value) in 2011. This information came from Federation of the Swiss Watch Industry FH.

This also reminded me that one of my friend likes to say he can drive a golf ball 300 yards. He did drove one over 300 yards, one of those times that everything came perfectly for him, but his average is more around 230-250. So maybe the dealer did sold 200 in one day, but probably not everyday, but they would like to think that they can........Then again, the Chinese are on a worldwide shopping spree, so anything is possible.

ps: USA is the second largest market, and China third.

[nju]

Originally Posted by tom2517

It's possible, given that Hong Kong is the world's largest market for Swiss watches, they absorbed more than 1/5th of Swiss watches made (in terms of value) in 2011. This information came from Federation of the Swiss Watch Industry FH.

This also reminded me that one of my friend likes to say he can drive a golf ball 300 yards. He did drove one over 300 yards, one of those times that everything came perfectly for him, but his average is more around 230-250. So maybe the dealer did sold 200 in one day, but probably not everyday, but they would like to think that they can........Then again, the Chinese are on a worldwide shopping spree, so anything is possible.

ps: USA is the second largest market, and China third.

yes, i agreed!! I remember hk is around 21% and usa is 10% in 2nd place.

[nowzen]

Originally Posted by nju

yes, i agreed!! I remember hk is around 21% and usa is 10% in 2nd place.

Yes that's correct, in 2011 HK saw a 28% increase to 21.2% of Swiss sales, while US saw an 18% increase to 10.3%. Guess things aren't all bad in the US economy.