ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
13 October 2021, 06:22 AM | #91 | |
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13 October 2021, 06:26 AM | #92 |
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Awesome database - shame it doesn't show how many watches each one gets......
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13 October 2021, 07:06 AM | #93 | |
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Many of the ADs being dropped by Rolex simply cannot comply with their demands. The reason the family owned businesses can’t comply is because they they don’t have the sq ft or margins to comply. Larger chains who either have their own building which is 100% watch sales or can lease more space in a mall can keep that account by making Rolex happy. There’s a reason we are starting to see jewelers either have another mall location that is 100% Rolex or another separate room off their main space that is exclusively Rolex. To your point, I’m sure it’s intentional of the part of Rolex. As much as Rolex generates revenue for a business, many of the smaller ADs sell A LOT more than just watches and can’t just shut down other sources of revenue even if it means a guaranteed 30-50 Rolex watches sold per month. In retail, counter space is everything. I know of two ADs who weren’t simply told “no.” Rolex wanted them to divert considerable space to their product at the expense of whatever else they sold. If you’re sold out of Rolex anyway and Rolex is telling you they want you to do something that might hurt other sales, at some point there are diminishing returns on that relationship. I’m sure no AD wants to say no to Rolex, but many are forced to. |
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13 October 2021, 07:47 AM | #94 | |
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13 October 2021, 07:47 AM | #95 |
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Seems low to me. If not that means the average AD is getting over 400 watches per year, which means there's really something fishy going on. |
13 October 2021, 08:00 AM | #96 | |
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And your example is exactly why. If you impose a standard that is difficult to comply with, at some point selling Rolex hurts your bottom line. Rolex isn’t picking up the volume of watches it’s sending to ADs. So even if you sell every Rolex sent to you, if you have to devote half your counter space to Rolex you are losing money somewhere else. Only large chains can buy a second mall space or devote a specific square footage to the crown without significantly impacting other sales. |
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13 October 2021, 08:10 AM | #97 |
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The AD I use is family owned. They have two locations. There is no indication that they will lose their Rolex AD status anytime soon. That said, 40% of their total watch space is Rolex. And it’s completely empty. I’m sure they’d love to fan out their JLC or IWC offerings. In fact, over the past several years they’ve offered less and less models of these brands to fit them into tighter spacing in the store (probably due to Rolex requests). Now, the point of the argument isn’t to say that they make as much in sales in JLC or IWC, but there IS a breaking point for any AD wherein whatever they make in Rolex sales will be offset by carrying fewer other brands or jewelry or whatever.
I mean it’s no good for them that they can’t carry any Aquatimers that might sell to a customer who can’t get a Rolex because they have zero space to display them. Instead, we have 30 ft of empty glass because Rolex demands it. There’s a tipping point. |
13 October 2021, 08:36 AM | #98 | |
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13 October 2021, 10:13 AM | #99 | |
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Smaller ADs have rapidly lost their AD status due to their inability to meet these demands. Larger ADs have allocated more and more space to Rolex going so far as to create separate rooms that only display Rolex or even opening another location under the same management as a Rolex-only boutique. Despite the lack of recent availability of Rolex watches, none of the aforementioned things have changed. I haven’t been to a single AD who has repurposed empty Rolex space to another brand they sell despite the fact that doing so would absolutely benefit them. If you sell watches and you have no Rolex available and you sell another brand, you’re going to try and steer a customer towards something else. Again using IWC as an example, my AD used to carry every model they make. Now they only display the Pilot and Portugieser models (IWC’s most popular models) because they don’t have the space to carry/display anything else. I doubt they grew their Rolex counter by choice considering it’s completely empty. |
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13 October 2021, 11:17 AM | #100 | |
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There are also, IMO, a lot more people without topical “small town style” who’d rationalize a $5,000 watch over a $5,000 bag. |
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13 October 2021, 11:27 AM | #101 |
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All right — substitute Gucci. Sold in non-corporate owned boutiques, but not available in rural areas. And while I agree with the $5,000 comparisons, brands like Gucci, LV, etc. derive most of their revenues from accessories—yes bags, but also belts, sunglasses, etc. that are nowhere near $5,000. And Rolex has few (if any?) watches at that price point.
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13 October 2021, 01:17 PM | #102 | |
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Many of those accessories also can be found in much lower end stores. Glasses are a perfect example. |
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13 October 2021, 03:30 PM | #103 | |
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13 October 2021, 04:08 PM | #104 | |
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13 October 2021, 11:24 PM | #105 | |
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Who am I to tell Rolex how to run their business? I just think I'd feel better as an AD if I was being forced to dedicate all this room to keeping my Rolex account to at least have some demonstration models my customers could look at. If I were them, I'd take anything to put in the display. |
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14 October 2021, 12:12 AM | #106 |
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14 October 2021, 12:36 AM | #107 |
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Since covid there hasn't been any stock. So the requirements by Rolex (only Rolex/models showroom etc.) make sense. If you want to play, you got to pay.
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14 October 2021, 02:30 AM | #108 | |
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it is what the Rolex website gives me |
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14 October 2021, 03:58 AM | #109 | |
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But I get your point: I've driven through the parts of Wichita, KS, for example, where there's a Rolex AD and every high-end car dealer (short of RR/Bentley) - so plenty of $$$ - but you'll never find a Gucci boutique there since it doesn't "fit" (in Gucci's mind). |
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14 October 2021, 04:06 AM | #110 | |
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14 October 2021, 06:15 AM | #111 |
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That is the new Ben Bridge location in Seattle. The current location, in the former Brooks Brother's location, is temporary.
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14 October 2021, 08:02 AM | #112 | |
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14 October 2021, 12:41 PM | #113 | |
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Rolex just terminated 6 US AD's
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I second this, downtown Seattle is a great location, everyone is super nice. They really do want local watch people to get the watches they want. |
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14 October 2021, 02:06 PM | #114 |
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Without a timeline, this chart makes no sense to me.
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__________________
Sub 116613 LN; GMT 116710 LN; Sinn 104R; Exp 214270; GS SBGM221; Omega AT |
14 October 2021, 04:21 PM | #115 | |
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14 October 2021, 07:26 PM | #116 | |
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What does that even mean? |
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14 October 2021, 09:37 PM | #117 |
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It’s better use as far as Rolex is concerned. Not necessarily better use as we’re concerned. I would be very upset if my AD got its dealership yanked.
Bigger and more dedicated boutiques located in bigger metro areas requires more watches to make these huge investments make economic sense. Rolex not increasing production for reasons we all know so they have to trim the number of stores they have the supply to fuel the growing number of new larger boutiques. Pretty simple but not necessarily a good thing depending upon your perspective Sent from my iPhone using Tapatalk |
15 October 2021, 12:35 AM | #118 | |
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"Mom & Pop" stores and smaller chains are being pushed out. Rolex is moving towards the Boutique environment where they can completely assert their control over inventory and personnel. |
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15 October 2021, 01:28 AM | #119 |
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Summary: Three AD locations in Spain, two in U.S., and two in APAC are gone.
And the world moves on. |
15 October 2021, 02:50 AM | #120 |
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In Socal...
That mall had a ben bridge and still has Swiss Luxury in there. Rubel told me that they jsut were not getting enough units to stock the shelves so they put all the Rolex stuff at the beach. Tick Tock also lost their license. What was crazy to me was how they were telling me that they can sell me a rolex at market price but not at regular price while they were rolex dealers. At least they were honest? Royal Maui lost their license through the pandemic |
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