Is the SF Rolex store going to close?

[amphr1]

With the owner of the Westfield mall pulling out of the property, does that mean all stores, including the Rolex boutique, will close? And does that somehow create an opportunity to buy up inventory?

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[rjstuf001]

What inventory?

[fskywalker]

Originally Posted by rjstuf001

What inventory?

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[Jawnz]

Originally Posted by rjstuf001

What inventory?

Ba-da-dum!

[doublevanose82]

Originally Posted by rjstuf001

What inventory?

[Nairn1980]

Originally Posted by amphora001

With the owner of the Westfield mall pulling out of the property, does that mean all stores, including the Rolex boutique, will close? And does that somehow create an opportunity to buy up inventory?

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Inventory

[gerry100]

very doubtful

[askdanny]

A new Rolex AD is about to open on Post St. near Union Square.

[jlovda]

Originally Posted by askdanny

A new Rolex AD is about to open on Post St. near Union Square.

Their rent must be pretty cheap considering everyone else is moving out from Union Square.

[Jawnz]

Originally Posted by askdanny

A new Rolex AD is about to open on Post St. near Union Square.

Shreve is already there? Who could it be?

[Cassian739]

Originally Posted by Jawnz

Shreve is already there? Who could it be?

I pray it’s NOT Shreve opening a stand-alone boutique, like they are doing at Palo Alto mall

[TeddyBallGame]

Originally Posted by Cassian739

I pray it’s NOT Shreve opening a stand-alone boutique, like they are doing at Palo Alto mall

Kern’s is the one opening the stand alone Rolex boutique in SF.

[whiskyrolex]

Originally Posted by TeddyBallGame

Kern’s is the one opening the stand alone Rolex boutique in SF.

According to their website, it's a Patek boutique, not Rolex.

[MichelleP]

Originally Posted by Jawnz

Shreve is already there? Who could it be?

Kerns. It will be a Patek and Rolex only store

[WatchGuy1966]

Originally Posted by askdanny

A new Rolex AD is about to open on Post St. near Union Square.

Down the street from Shreve?

[SDGT3]

Originally Posted by askdanny

A new Rolex AD is about to open on Post St. near Union Square.

They better have heavy security and other types of measures to keep the area clear. San Francisco is now the Detroit of the 1980s and 90s.

[msu_1972]

Originally Posted by SDGT3

They better have heavy security and other types of measures to keep the area clear. San Francisco is now the Detroit of the 1980s and 90s.

I agree with you. SF used to be such a fun and beautiful place to hang out when I first moved to the Bay Area. Now I don't even go up to the city anymore, the streets are filled with homeless people. Also I think the city is too easy on criminals which is one reason why a lot of retailers are leaving the city. So sad what this world is coming to now.

[SDGT3]

Originally Posted by msu_1972

I agree with you. SF used to be such a fun and beautiful place to hang out when I first moved to the Bay Area. Now I don't even go up to the city anymore, the streets are filled with homeless people. Also I think the city is too easy on criminals which is one reason why a lot of retailers are leaving the city. So sad what this world is coming to now.

I used to love going to SF as a kid and then as an adult for work, it was a treat to go and experience the wonderful architecture, restaurants and events. I was there in 2019 and again 2 weekends ago. Being there in person is much worse than it's described in the media. It's a real shame.

[Krash]

Originally Posted by SDGT3

I used to love going to SF as a kid and then as an adult for work, it was a treat to go and experience the wonderful architecture, restaurants and events. I was there in 2019 and again 2 weekends ago. Being there in person is much worse than it's described in the media. It's a real shame.

It's awful. Many American cities are in decline, but SF seems to be leading the way.

[jw72]

Originally Posted by SDGT3

They better have heavy security and other types of measures to keep the area clear. San Francisco is now the Detroit of the 1980s and 90s.

Detroit was never that bad, SF is a dump. We go every year for visit, never again.

[wilsonpepper]

Originally Posted by askdanny

A new Rolex AD is about to open on Post St. near Union Square.

Yet another dump of a location. Hope they have "theft" insurance, and a shovel to rid feces from the front of the store each morning.

[nocaps]

to answer the first part of your post. the store owner would still be obligated under the terms of their lease, no matter who owns or manages the building. whether it's westfield, the court appointed receiver, the lender who takes it
back in foreclosure, or the subsequent owner.

however, many commercial leases allow a tenant to "back out" of a lease
if the occupancy rate drops below a certain point.

[VerticalClutch]

It never ceases to amaze me that folks think AD's have a safe stuffed full of Rolex's. If you ran a business, you'd understand things like cash flow and inventory taxes (granted not every state has this tax, but still).

For every Rolex an AD gets, they can basically double their cash position.

[Gebbeth]

Originally Posted by VerticalClutch

It never ceases to amaze me that folks think AD's have a safe stuffed full of Rolex's. If you ran a business, you'd understand things like cash flow and inventory taxes (granted not every state has this tax, but still).

For every Rolex an AD gets, they can basically double their cash position.

They do have the inventory. In fact, they have a lot of inventory. They just don't have it for you.

https://youtu.be/XY_f0Q5aKlQ

Listen at the 17:00 mark.

Rolex ADs are not under the same type of cashflow pressures other ADs are under due to the guaranteed nature of the a Rolex sale and the enormous price differential they can get by selling into the secondary market or high net worth individuals willing to pay an extra something something to get the desired models.

[darius359]

Originally Posted by VerticalClutch

It never ceases to amaze me that folks think AD's have a safe stuffed full of Rolex's. If you ran a business, you'd understand things like cash flow...

Having worked for various retailers over the years, including Tourneau, I can confirm that they ALL have or had safes full of various watch brands, primarily extra stock of Rolex watches. Maybe it's different today compared to decades past but there has always been a need to hold stock back for VIPs and special circumstances.

Related story of an experience with overstock:
I managed a Tourneau boutique many years ago, before any of the buy-outs, when it was still run by the Wexler family. One December, right before Xmas, the VP of sales called to tell me that, "We have too many Daytonas in stock and need to move them to make room for a fresh shipment. The courier is on his way, so tell your staff to start making calls and get them sold.". Five white dial and six black dial 116520's were sold in 24 hours. I should've purchased one but they wouldn't let me apply my employee discount to Rolex Professional models and I was just an idiot for not paying retail when I had the chance. Instead, I let some random guy who walked in off the street, visiting our boutique for the very first time, leave with his dream watch.

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[amphr1]

Originally Posted by darius359

Having worked for various retailers over the years, including Tourneau, I can confirm that they ALL have or had safes full of various watch brands, primarily extra stock of Rolex watches. Maybe it's different today compared to decades past but there has always been a need to hold stock back for VIPs and special circumstances.

Related story of an experience with overstock:
I managed a Tourneau boutique many years ago, before any of the buy-outs, when it was still run by the Wexler family. One December, right before Xmas, the VP of sales called to tell me that, "We have too many Daytonas in stock and need to move them to make room for a fresh shipment. The courier is on his way, so tell your staff to start making calls and get them sold.". Five white dial and six black dial 116520's were sold in 24 hours. I should've purchased one but they wouldn't let me apply my employee discount to Rolex Professional models and I was just an idiot for not paying retail when I had the chance. Instead, I let some random guy who walked in off the street, visiting our boutique for the very first time, leave with his dream watch.

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Wow just wow

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[Chiboy]

Seriously, even if they had inventory, why would they be dumping it? These days there is a list for seemingly every watch. Just man the phones for a day and it would all be gone.

[Kreyzhorse]

Empty like Al Capone's Vault.

[Willyjo]

Originally Posted by Kreyzhorse

Empty like Al Capone's Vault.

Geraldo is the new SA


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[codecow]

Back in the day the window display for that store… they had like every reference. Leopard and rainbow Daytonas, meteorite, like pretty much everything all at the same time.

It was an age of innocence.

As a young middle aged man I wandered in and was amazed by the array of pieces they had. A quick walk away I remember seeing a Tiffany stamped 5119J sitting in the case unmolested. 5711 white dials sitting there unloved. 5712’s lonely and unloved.