Update: Rolex @ Wynn - Las Vegas

[RichM]

Very informative. Thanks Gerardo.

[Rick_Nashville]

Originally Posted by GerardoG

Good afternoon TRF. After reading a lot about changes in the store, I called some contacts within the organization. Names can not be disclosed; but trust me, this is UP directives. VERY up in the organization. As of today:

-Wynn has sold almost 50% (just under, so they keep a majority) of the RETAIL business to Crown. Crown is a management company (for those TRFers in the US, think as Simon for shopping malls).

-Crown will manage retail for Wynn, so all renters will now coordinate with Crown, not Wynn-Retail (Wynn still owns the place and majority in the venture). Operation exceeds 500 million us

-Aurum (UK) who owns several businesses including major watch boutiques and reps (Patek, Rolex, JLC, etc) as well as jewelry stores and other venues; bought Mayors in FL and Atlanta for over 100 million us.

-One of Aurum's companies is Watches of Switzerland (WofS), who is in charge of the AAA product line (watches). Watches of Switzerland bought Mr Wynn's participation in Rolex-Vegas and other watch stores at Wynn/Encore; so the boutique will be now Rolex by Watches of Switzerland (instead of Rolex by Wynn).

-Today and tomorrow the store will be closed, as they are moving EVERYTHING to WofS....computers, inventory, phones, e-mails; etc.

-For us, customers, there is no change. The store will have no change, staff will be the same...all the same. They feel that, with WofS/Aurum which is into retail, there will be new and fresh ideas to increase sales volumes. Wynn will focus on Hotel and Casino...while still owning majority on retail but leaving the operation to others.

.....whew! Lots of information! Cheers!!!!!

Fantastic info, Gerardo. Thanks for the detailed research and intrepid reporting! Regards, -Rick.

[GerardoG]

Originally Posted by amh

They'll have "fresh ideas" to increase sales?

Will they actually get new stock?

On the plus side, WofS owns several Rolex boutiques...this will be interesting...

Originally Posted by Rich Mickol

Very informative. Thanks Gerardo.

My pleasure

Originally Posted by Rick_Nashville

Fantastic info, Gerardo. Thanks for the detailed research and intrepid reporting! Regards, -Rick.

Cheers!

[brandrea]

Great Information Gerardo, thank you

[GerardoG]

Originally Posted by brandrea

Great Information Gerardo, thank you

Thank you for reading

[gabbysplace]

Curious to check it out. Not the biggest WoS fan. There’s sort of a UK Tourneau. So let’s see what happens


Sent from my iPhone using Tapatalk

[GerardoG]

Originally Posted by gabbysplace

Curious to check it out. Not the biggest WoS fan. There’s sort of a UK Tourneau. So let’s see what happens


Sent from my iPhone using Tapatalk

Only time will tell. So far, many internal changes have happened; anxious to see what the future brings...

[Runnin' Rebel]

Did you fly here to find that out ??!! Cause I didn't get a phone call from you. In any event Wynn Hotel is demolishing their golf course and making it into Paradise Park. Maybe this is connected

The centerpiece will be a 20-plus-acre lagoon with a beach, possibly another hotel tower and casino and extensive dining and nightlife attractions. The elaborate water feature will be used for watersports by day and entertainment by night, such as firework shows and an elaborate Disney-style production much like Fantasmic at Disney World in Florida. I think the golf club closes in 3 days actually

[nyc2la]

Great info, thanks G!

[gettocard]

Why the sun or lvrj have not reported this ?

[GerardoG]

Originally Posted by Runnin' Rebel

Did you fly here to find that out ??!! Cause I didn't get a phone call from you. In any event Wynn Hotel is demolishing their golf course and making it into Paradise Park. Maybe this is connected

The centerpiece will be a 20-plus-acre lagoon with a beach, possibly another hotel tower and casino and extensive dining and nightlife attractions. The elaborate water feature will be used for watersports by day and entertainment by night, such as firework shows and an elaborate Disney-style production much like Fantasmic at Disney World in Florida. I think the golf club closes in 3 days actually

Well....did not visit. If I did, I would DEFINITIVELY called.

Yes, there is MAJOR things coming up at Wynn. Saw the master plan during our GTG this year. It will be impressive!

Originally Posted by nyc2la

Great info, thanks G!

Originally Posted by gettocard

Why the sun or lvrj have not reported this ?

No idea!

[armen34]

Great information, Gerardo. And now I know why I haven't got the call for my Daytona.

[Runnin' Rebel]

Originally Posted by gettocard

Why the sun or lvrj have not reported this ?

Well, considering who owns the RJ, which kinda owns the Sun would maybe be the answer. Adelson. Wynn and Adelson haven't been the best buddies so no reason to promote your enemy

[gettocard]

Originally Posted by Runnin' Rebel

Well, considering who owns the RJ, which kinda owns the Sun would maybe be the answer. Adelson. Wynn and Adelson haven't been the best buddies so no reason to promote your enemy

Aw c’mon,I don’t see any promotion here,it’s just mere business news. What about everytime stuff about Paradise Park or Steve Wynn interviews pops out on both newspapers then. It would be just plain dictatorship to hide these kind of news,even if everybody knows what kind of miserable human being Shelly is..

[GerardoG]

Originally Posted by armen34

Great information, Gerardo. And now I know why I haven't got the call for my Daytona.

[daveo5]

Thanks. Save me a trip downtown. Glad to know the staff will continue w/o change.

[hulkalicious]

Originally Posted by GerardoG

Good afternoon TRF. After reading a lot about changes in the store, I called some contacts within the organization. Names can not be disclosed; but trust me, this is UP directives. VERY up in the organization.

As of today:

-Wynn has sold almost 50% (just under, so they keep a majority) of the RETAIL business to Crown. Crown is a management company (for those TRFers in the US, think as Simon for shopping malls).

-Crown will manage retail for Wynn, so all renters will now coordinate with Crown, not Wynn-Retail (Wynn still owns the place and majority in the venture). Operation exceeds 500 million us

-Aurum (UK) who owns several businesses including major watch boutiques and reps (Patek, Rolex, JLC, etc) as well as jewelry stores and other venues; bought Mayors in FL and Atlanta for over 100 million us.

-One of Aurum's companies is Watches of Switzerland (WofS), who is in charge of the AAA product line (watches). Watches of Switzerland bought Mr Wynn's participation in Rolex-Vegas and other watch stores at Wynn/Encore; so the boutique will be now Rolex by Watches of Switzerland (instead of Rolex by Wynn).

-Today and tomorrow the store will be closed, as they are moving EVERYTHING to WofS....computers, inventory, phones, e-mails; etc.

-For us, customers, there is no change. The store will have no change, staff will be the same...all the same. They feel that, with WofS/Aurum which is into retail, there will be new and fresh ideas to increase sales volumes. Wynn will focus on Hotel and Casino...while still owning majority on retail but leaving the operation to others.

.....whew! Lots of information!

Cheers!!!!!

Aurum also own Goldsmiths in the UK. Biggest Rolex supplier here.

[rolehex]

Interesting. I wonder if new ownership will ship out of state without tax like Wynn Rolex used to offer.

[GerardoG]

Originally Posted by daveo5

Thanks. Save me a trip downtown. Glad to know the staff will continue w/o change.

Originally Posted by hulkalicious

Aurum also own Goldsmiths in the UK. Biggest Rolex supplier here.

Yes!

Originally Posted by rolehex

Interesting. I wonder if new ownership will ship out of state without tax like Wynn Rolex used to offer.

I would guess so as it is my understanding this is more related to taxes than corporate policies (please correct me if I am wrong)

[Runnin' Rebel]

Originally Posted by gettocard

Aw c’mon,I don’t see any promotion here,it’s just mere business news. What about everytime stuff about Paradise Park or Steve Wynn interviews pops out on both newspapers then. It would be just plain dictatorship to hide these kind of news,even if everybody knows what kind of miserable human being Shelly is..

They apologized for being a dictatorship and printed this yesterday. Even bigger news IMO

https://m.lasvegassun.com/news/2017/...frontier-on-s/

[gettocard]

Originally Posted by Runnin' Rebel

They apologized for being a dictatorship and printed this yesterday. Even bigger news IMO

https://m.lasvegassun.com/news/2017/...frontier-on-s/

Big stuff. They will wait until Genting will be ready and fight back accordingly,right now the focus is on paradise park. Can’t wait to see the place

[Runnin' Rebel]

Very big stuff. Wynn will be building literally in front of Trump Tower. That should start a feud. Can't wait to see who wins. Actually the winner was Ruffin when he sold the dirt for an a billion dollar profit in 10 years

[gettocard]

Originally Posted by Runnin' Rebel

Very big stuff. Wynn will be building literally in front of Trump Tower. That should start a feud. Can't wait to see who wins. Actually the winner was Ruffin when he sold the dirt for an a billion dollar profit in 10 years

Correct,Ruffin scored big time. I wonder why is letting TI go so downhill now,I guess he’s still a Frontier kind of guy..

I don’t see trump interested in getting into a fight tho,he’s never been a casino guy and his tiny in Vegas. But his property will benefit a lot from what’s coming.

[twnturbo]

Was just here today & The Watches of Switzerland’s store has no Rolexes ,but there’s an Ad a few doors down & they have s great Rolex museum in back ,i was told by staff one of only 2 in the world,some great vintage pieces on display.

[fosbibr]

Interesting. I went into both today and was ignored (except for a "hello" from the security guards). At Rolex, the one sales person glanced at me while I was browsing, then left for the back without saying a word.

At WoS - a very similar experience.

Neither store had any other customers in them when I was there - about 11am. Maybe it was just the time of day...... When I was out here same time last year, the staff was much more attentive. Again, maybe just the time of day? Maybe I'm just being sensitive too ;)

FWIW - I am wearing a BLRO

[Jocke]

Originally Posted by fosbibr

Interesting. I went into both today and was ignored (except for a "hello" from the security guards). At Rolex, the one sales person glanced at me while I was browsing, then left for the back without saying a word.

At WoS - a very similar experience.

Neither store had any other customers in them when I was there - about 11am. Maybe it was just the time of day...... When I was out here same time last year, the staff was much more attentive. Again, maybe just the time of day? Maybe I'm just being sensitive too ;)

FWIW - I am wearing a BLRO

Next time visit the store with a letter in your hand, at least the customers will talk to you.

[Rick_Nashville]

Originally Posted by fosbibr

Interesting. I went into both today and was ignored (except for a "hello" from the security guards). At Rolex, the one sales person glanced at me while I was browsing, then left for the back without saying a word. At WoS - a very similar experience. Neither store had any other customers in them when I was there - about 11am. Maybe it was just the time of day...... When I was out here same time last year, the staff was much more attentive. Again, maybe just the time of day? Maybe I'm just being sensitive too ;)
FWIW - I am wearing a BLRO

I will absolutely *never* understand this in a million years. I.E. how people working in sales, whose chosen life's vocation is in engaging, winning and retaining clients, can completely ignore a potential new client. When the economy inevitably endures another downward cycle (hopefully not for a long, long time, lol), the clueless sales personnel you encountered today are going to rue the day they ignored you. It's not rocket science..

[GerardoG]

Originally Posted by Jocke

Next time visit the store with a letter in your hand, at least the customers will talk to you.

[GerardoG]

Originally Posted by Rick_Nashville

I will absolutely *never* understand this in a million years. I.E. how people working in sales, whose chosen life's vocation is in engaging, winning and retaining clients, can completely ignore a potential new client. When the economy inevitably endures another downward cycle (hopefully not for a long, long time, lol), the clueless sales personnel you encountered today are going to rue the day they ignored you. It's not rocket science..

I agree on the comment, however, it might be the venue's fault. Let me explain: I just spent a very good number of hours with them (more on thread-Open Forum) for out upcoming GTG.

The Vegas boutique is a different animal by itself. The place -and customers- are NOT the same as in any other city, you can imagine why. The staff is trained following AAA Four and Five Diamond guidelines, as well as Forbes best practices.

Due to the customers they receive, a 'pushy' salesman is a big NO, they realize that whoever wants a Rolex, will ask....they are not there to 'pull' a sale trying to convince you. When people approach the store and ask, they are IN.

Selling 5-10 pieces to a single customer is common in this store, everyone pays full retail.

So, I agree, it seems odd to have no one approach you, but again, it is the venue.

[cm10005]

I was at the Wynn Rolex about 2wks ago and the staff were more than willing to help. 2 different salespeople asked me if I needed assistance and if I wanted to see something. I don't like being stalked by a salesperson as I browse around a store. I informed them I was just looking and they pretty much left me alone and answered any questions I had. Also gave me a bottle of water when I was browsing around and looking at the museum section in the back of the store. I didn't have an intention of buying but thought the employees acted just fine, helpful but not pushy