Rolex store in Hong Kong.

[azguy]

while 200 a day is a shocking number, it would not surprise me at all....

[MoBe]

Regardless of the number the source of the information simply doesn`t sound credible.

[joleel7]

The number may be included for AD sell them to grey marker dealer.. With the rent the AD is paying in HK they have to sell a LOT of watches to cover.

[MoBe]

Originally Posted by joleel7

The number may be included for AD sell them to grey marker dealer.. With the rent the AD is paying in HK they have to sell a LOT of watches to cover.

I thought of that possibility as well.

[Cato]

Rolex is very popular with Chinese. I never see more Rolexes than I do at Saturday morning Dim Sum.

[stockae92]

200 Rolex a day? that's nothing when "they" are buying houses left and right here with cash offer ...

[Art 1]

When one considers that little tiny Hong Kong imports as many Swiss watches as the USA, they could sell that many at the one location.

[TSW]

Not surprised at all, I know a AD that sells over 1500 pieces per year in a tiny country.

[BeekerMuppet]

I've said it before, HK is watch paradise. The reason why mainland Chinese buy alot of Rolexes in HK, is because they are afraid to buy in the mainland because of all the fakes. And all the left over money is spent in Macau BTW

[SeaDweller50]

Potential buyers in the UK seem to shy away from Hong Rolex's assuming they are fake, originating from China. I had a professional snooker player wanted to buy my immaculate Z ser GMT 16710 Pepsi as part of his collection until I mentioned code 888. No thanks, he said and put the phone down.

[RX0-Unicorn]

Originally Posted by Cato

Rolex is very popular with Chinese. I never see more Rolexes than I do at Saturday morning Dim Sum.

That is true. Given the fact that mainland chinese are buying houses at 600k+ with cash, buying 7 to 8 rolex is nothing.

But, 200 watches per day is a lot. That store location must have a group of tourist from mainland where their sole intention is to buy rolex.

[dalip]

And yes... This is the market Rolex is aiming the new models at. For very good reason.

[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

[Dr. Robert]

Hong Kong.....watch heaven.

[jolimont]

Originally Posted by BeekerMuppet

I've said it before, HK is watch paradise. The reason why mainland Chinese buy alot of Rolexes in HK, is because they are afraid to buy in the mainland because of all the fakes. And all the left over money is spent in Macau BTW

Luxury tax in PRC makes it cheaper for mainlanders to buy overseas. It's actually cheaper for them to buy LV etc in Australia(!!!) than in China

BTW i agree , HK is watch heaven

[topgear]

HK and Singapore are watch heavens.

There is a reason to it. If you remove the China factor for HK, they still sell a lot of watches. JUst like Singapore, property prices in HK are crazily expensive. It is also expensive to drive as well. So people (the locals) with a little bit of money will buy watches and leather goods.

[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.

[pokpok]

I believe it. Being from HK/Macau, the Mainlanders literally pick up watches, gold, jewelry like they're grocery shopping.

[topgear]

Originally Posted by pokpok

I believe it. Being from HK/Macau, the Mainlanders literally pick up watches, gold, jewelry like they're grocery shopping.

i agree. to other TRF-ers, seeing is believing.

[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.

[Fernandohk]

Rents at these locations are amongst the highest in the world, if not the highest. The traffic & volume of business mitigates this and demand for shop space outstrips supply.

[nowzen]

The Rolex/Tudor flagship store (exclusively Rolex & Tudor) is in Kowloon.

The writer is slightly off describing the Times Square store as a 'Rolex Store' - it would have been one of about 100 Rolex ADs in the immediate Times Square area. I did see my first, newly-opened Tudor-only boutique near Times Square.

I believe the reference to 200 watches, would mean 200 luxury watches and that would include some really hi-end watches in the 100,000 to 200,000+ USD range.

[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.

[nyjohnchan]

Hong Kong has more Mercedes than Germany and more Lamborghini than Italy. So a few hundred rolexes a day is nothing. I wish I can spend money like that. LOL

[fabini]

I was in Shanghai last month and even though there's lots of money there I just think that number is overly inflated. to say that they sell 15-20 per day is very much within target. besides the price of a DSSD in Shanghai is about 15K ( before the increase ). if I am the manager of a Rolex AD and a prestigious magazine runs an article where my store is going to be mentioned I will tell the reporter that we sell Rolex watches like selling toothpaste. its good for my business and the exposure that comes with it.

[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.

[eddie_b]

Originally Posted by nyjohnchan

Hong Kong has more Mercedes than Germany and more Lamborghini than Italy. So a few hundred rolexes a day is nothing. I wish I can spend money like that. LOL

I highly doubt that Mercedes sells more cars in Hong Kong than in Germany. Do you have some facts to back this up?

This is the problem with forums, people just start spewing "information" that they never back up as if it is real.

I personally doubt 200 Rolex watches are sold there every day, on average but then again I don't know and neither does anyone here, imo.

[The GMT Master]

So almost 10% of Rolex's (estimated) annual production at one AD....seems a little excessive

[ahmedjd]

Hong Kong is a shopping paradise for tourist and Chinese mainlanders. There are so many authorized dealers and retail shops in hong kong. The article might be written more loosely. The Rolex dealer might have said at most we have sold 200 watches on single day. This is quite possible feat to happen especially during Chinese new year holidays, when there is major influx Chinese tourist to hong kong. The Chinese consider hong kong a shopping paradise mainly because hong kong (pls refer to article http://www.china-briefing.com/news/2...ury-goods.html ) considering the amt of tax in china for luxury most wealthy mainlanders come to hk only for sole reason of shopping. imagine millions of wealthy mainladers coming to hk for the sole reason of shopping to tiny hong kong filled few hundred authorised dealers. My point is 200 rolexes a day in single shop is a achievable feat but not through out the year as some have taken into misconception