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13 June 2023, 04:18 PM | #1 |
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Is the SF Rolex store going to close?
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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13 June 2023, 05:01 PM | #2 |
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What inventory?
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13 June 2023, 05:56 PM | #3 |
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13 June 2023, 11:38 PM | #4 |
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14 June 2023, 12:06 AM | #5 |
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13 June 2023, 06:09 PM | #6 |
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13 June 2023, 10:36 PM | #7 |
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very doubtful
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13 June 2023, 11:03 PM | #8 |
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A new Rolex AD is about to open on Post St. near Union Square.
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13 June 2023, 11:25 PM | #9 |
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13 June 2023, 11:39 PM | #10 |
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14 June 2023, 08:50 AM | #11 |
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15 June 2023, 01:14 AM | #12 |
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15 June 2023, 02:05 AM | #13 |
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17 June 2023, 03:40 AM | #14 |
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14 June 2023, 01:35 AM | #15 |
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14 June 2023, 01:44 AM | #16 |
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14 June 2023, 02:04 AM | #17 |
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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.
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14 June 2023, 02:20 AM | #18 | |
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Quote:
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14 June 2023, 02:35 AM | #19 | |
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Quote:
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14 June 2023, 02:09 PM | #20 |
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14 June 2023, 09:29 AM | #21 |
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14 June 2023, 12:46 PM | #22 |
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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. |
13 June 2023, 11:22 PM | #23 |
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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. |
14 June 2023, 02:49 AM | #24 | |
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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. |
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18 June 2023, 05:05 AM | #25 | |
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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. Sent from my KB2005 using Tapatalk |
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18 June 2023, 05:18 AM | #26 | |
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14 June 2023, 12:09 AM | #27 |
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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.
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14 June 2023, 12:26 AM | #28 |
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Empty like Al Capone's Vault.
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14 June 2023, 01:23 AM | #29 |
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14 June 2023, 12:45 AM | #30 |
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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. |
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