Interesting story: AD in Nicaragua...

[zeuloa]

Yesterday I went to the only Rolex AD in Nicaragua, Gertsch & Molina to source some spring bars for my SD. Had a very interesting conversation with one of the owners, Alvaro Molina, regarding their history, new product, economy, where Rolex is going, etc.

His great uncle, Mr. Gertsch, came to Nicaragua from Switzerland in the early 1940s to work in the national brewery as an engineer. It seems that his wife, Mrs. Molina, was a savvy entrepreneur always looking for opportunities which led to them importing elevators and watches from Switzerland, and this is how Gertsch & Molina was born.

I believe they started with Omega (which now they don't sell anymore but the competition does), and then due to a leap of faith brought Rolex on board. It seems that sometime while traveling in Switzerland Mrs. Molina met Heiniger (I assume Andre) on a train, and one thing led to another and she agreed to be the Rolex Authorized Dealer for Nicaragua. I assume this was sometime in the late 40s or early 50s, when Omega was huge and Rolex was not well known on this side of the world.

Gertsch & Molina were a very successful business catering to the elite of Nicaragua since 1945, but in 2008 with the downturn in the economy they had to scale down and close one of their stores in the best mall in Managua. They kept open a small store in an older shopping center, where they no longer showcase Rolex. They have a Rolex certified watchmaker (are allowed to do warranty work and service with Rolex full 2 year warranty), and all Rolex sales are done by order only as they do not keep new inventory (sometimes they have used inventory on consignment). Alvaro mentioned things are getting better, and they hope to thrive again and have a nice Rolex display with good inventory like in days of past.

It seems their relationship with Rolex is very strong as he mentioned they have been very supportive through the hard times and not given the AD status to the competition (which sells Omega, Cartier, and Chopard) which have wanted it for some time now according to Alvaro.

Some things he mentioned that I'd like to share:

- He's seen a few concerns with the new models that Rolex is quick to solve even out of warranty. Mentioned the soldered clasps as an example. Also told me the story of a good customer that came in with a watch that was showing signs of rust-like discoloration on the side of the case. It happened that the Rolex rep was there and immediately sent a fax to Switzerland and a few days later a new case arrived and Rolex took care of it.

- Mentioned the Rolex offices in Venezuela, which were their distributors and training facilities, have moved to the Bahamas.

Sorry for the long post but I thought it was an interesting story about a family business and a strong relationship that has lasted through good and bad!