Rolex Headquarters Update

[Pboned]

https://newyorkyimby.com/2023/12/fou...manhattan.html

[omar-rye]

20 floors of office space for what?

[amh]

Originally Posted by omar-rye

20 floors of office space for what?

Marketing people, of course. It's a lot of work to create all the print ads, the new AD window displays, schedule all the massive "Rolex Rolex Rolex" signs at sporting events.

Someone also needs to send out the Rolex (TM) chocolates to the "most valued customers" at Christmas time.

Sheesh

[Michael1968]

Originally Posted by amh

Marketing people, of course. It's a lot of work to create all the print ads, the new AD window displays, schedule all the massive "Rolex Rolex Rolex" signs at sporting events.

Someone also needs to send out the Rolex (TM) chocolates to the "most valued customers" at Christmas time.

Sheesh

[jimcameron]

Expect watch prices to go up in order to build someones dream of working in Midtown.

You'd think that they might do a lot better to be out in the sticks somewhere

[enjoythemusic]

Originally Posted by amh

Someone also needs to send out the Rolex (TM) chocolates to the "most valued customers" at Christmas time.

Sounds delicious!

Look forward to visiting once built.

[TheDogHouse]

Originally Posted by jimcameron

Expect watch prices to go up in order to build someones dream of working in Midtown.

You'd think that they might do a lot better to be out in the sticks somewhere

NYC has a massive talent pool. While real estate in the sticks is obviously cheaper, you will never attract and retain enough quality workers.

[Calatrava r]

Originally Posted by omar-rye

20 floors of office space for what?

The building needs to be a certain height to fit into the cityscape. Unneeded space by Rolex will be leased to outside firms.

[Porschen]

I find the remote work vs office work dichotomy to be interesting. Lots of folks talk about in-office work being a thing of the past, but lots of companies continue to invest in commercial office spaces. I love the hybrid model my company embraces - the best of both worlds for me, so I think in person work is here to stay.

I can’t wait to learn more about the retail space planned for Rolex here.

[Pboned]

Hopefully everything goes smooth with the construction. Looking forward to see the finished product.

[MRBolton]

Originally Posted by omar-rye

20 floors of office space for what?

Rolex doesn’t necessarily have to occupy the entire space. It may be leased partially.

[gerry100]

as long as they maintain quality, brand identity and dont increase volume too much, I dont give a monkeys timex

[jimcameron]

Originally Posted by TheDogHouse

NYC has a massive talent pool. While real estate in the sticks is obviously cheaper, you will never attract and retain enough quality workers.

I'm not buying that. Rolex Training Center is ...Lititz Watch Technicum, in Pennsylvania.

[Henrimontgomery]

I got the chocolates ! The system works!

[brandrea]

Tasteful design. I’m excited to see the finished result.

[RiRi]

Maybe they just need to invest some money? I mean they are probably one of the biggest real estate owners in Geneva, so time to diversify a bit ...

[ArtNouveau]

Cool update. I was in New York last month and saw that the building was completely gone. I stopped into Wempe across the street, I should have asked if their Boutique will reopen in the new building.
I can’t imagine there not being a flagship store on street level but wonder if its operator could be the winner of a bidding war? Wempe? Bucherer? WOS?

[airchitect]

Originally Posted by Porschen

I find the remote work vs office work dichotomy to be interesting. Lots of folks talk about in-office work being a thing of the past, but lots of companies continue to invest in commercial office spaces. I love the hybrid model my company embraces - the best of both worlds for me, so I think in person work is here to stay.

I can’t wait to learn more about the retail space planned for Rolex here.

The companies still investing in that have delusional leadership, or in the case of big banks, a vested interest in commercial RE not tanking. Personally I’d like to see as much commercial as possible used for other purposes even if it means tear downs.


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[Benjay]

Originally Posted by gerry100

as long as they maintain quality, brand identity and dont increase volume too much, I dont give a monkeys timex

+1

[TheDogHouse]

Originally Posted by jimcameron

I'm not buying that. Rolex Training Center is ...Lititz Watch Technicum, in Pennsylvania.

You are comparing a training/repair center which is made up of blue collar workers versus executive offices which are comprised of white collar workers. Two different demographics completely.

[ArtieFufkinPolymer]

Originally Posted by Pboned

https://newyorkyimby.com/2023/12/fou...manhattan.html

Interesting. Is there a big NIMBY v YIMBY battle going on in NY?

[cloudken]

Originally Posted by ArtNouveau

Cool update. I was in New York last month and saw that the building was completely gone. I stopped into Wempe across the street, I should have asked if their Boutique will reopen in the new building.
I can’t imagine there not being a flagship store on street level but wonder if its operator could be the winner of a bidding war? Wempe? Bucherer? WOS?

I can't believe that Rolex would give their main building space to anyone but Bucherer for obvious reasons.

But I also think that there's too many Bucherers in the area, 3 within walking distance and another one may be too much.

SAs I've chatted with think it'll be more of a museum showroom rather than an AD.

[7enderbender]

I will continue to send my watches to Dallas. Seems to be the more reliable option. And with my Omegas I’ve learned to send them in while in Europe and not trust anyone they engage here in the States unfortunately. “Giant talent pool” is an interesting statement….

[7enderbender]

Originally Posted by TheDogHouse

NYC has a massive talent pool. While real estate in the sticks is obviously cheaper, you will never attract and retain enough quality workers.

If I were a watchmaker of that caliber I’d rather live in the sticks and not deal with what New York City has become. And I don’t think those people make enough money to live in or near the city these days - certainly not in a way where you’d want to raise a family.

[culvercity]

Originally Posted by 7enderbender

If I were a watchmaker of that caliber I’d rather live in the sticks and not deal with what New York City has become. And I don’t think those people make enough money to live in or near the city these days - certainly not in a way where you’d want to raise a family.

Agreed! I can't imagine raising a family in the city. Too much Caste System Economics from the State Capitalism imo.

[CarlOver]

I read an article about the various real estate holdings that Rolex has in various cities. I was explained the Rolex had to put the money someplace based on their non profit foundation status. Don’t know how true the info was but I guess it’s plausible.

[culvercity]

Originally Posted by CarlOver

I read an article about the various real estate holdings that Rolex has in various cities. I was explained the Rolex had to put the money someplace based on their non profit foundation status. Don’t know how true the info was but I guess it’s plausible.

That would make a lot of sense. The entire financial industry and pension class system in the USA is literally tied to the cost of real estate. If real estate is ever allowed to reach Price Discovery without bailouts the pension class would not have their pensions paid for.