Head of the possibly the most cutthroat corporate luxury group in the world accuses another brand of not being "gentlemanly" towards retailers. Excuse me while I laugh my ass off.
Not seen this posted up on the forum yet, but fairly big news in the trade I guess
http://watchesbysjx.com/2018/10/wemp...ing-nomos.html
http://www.watchpro.com/exclusive-je...cial-partners/
Head of the possibly the most cutthroat corporate luxury group in the world accuses another brand of not being "gentlemanly" towards retailers. Excuse me while I laugh my ass off.
Notice the underlying trend - shift to online selling.
I saw Nomos publicising the pre-owned thing recently - hardly bargains though.
Well done Nomos. Screw the lumbering nepotistic dinosaur companies.
Making an online retailer an official partner is strange. The whole point of buying an expensive luxury watch is to enjoy the experience of visiting a store. If you are only buying online then there is no excitement or joy. if Nomos want to go this route they should take on Amazon too.
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And that is exactly the demographic change which Nomos are betting on and which the traditional retailers are at risk of missing. Millennials don't care about AD experience.
Nomos have a younger ownership than Rolex or Patek and they need to position themselves accordingly
Someone who lies about the little things will lie about the big things too.
The problem with on-line is that the notion of 'luxury' cannot be maintained very convincingly. Watches becomes commodities. Which is why the powerful brands such as Rolex and Patek are determined to hold out.
I have a friend who deals in ultra-luxury goods. When he stopped selling on-Line, his business actually increased.
Nomos are now stuck firmly in the middle market. The brand will be weakened.
Take the 'holy trinity'....only VC sells on-line; a sure sign of their weakness.
My guess is that in the longer-term, being an 'elite' product will involve buying from a store. For the rest, Amazon with discounts.
Last edited by paskinner; 18th November 2018 at 09:42.
More than that - JCB said that the reason that the Tag connected sells better online is the young customers who buy it will simply not go into a store - they find it a stiff and weird experience.
I must confess that when trying on some watches in Harrogate yesterday I started to find it a weird experience - all the fawning makes me uncomfortable.
Last edited by Alansmithee; 18th November 2018 at 10:08.
Someone who lies about the little things will lie about the big things too.
Chronext sell JLC, AP, PP, GO etc. Does that cheapen their brands? So long as they maintain their manufacturing and design standards, Nomos should continue to flourish via the web channels. They're a similar size in terms of pieces to CW but with infinitely higher kudos and desirability.
Rolex and Patek know they aren't competing with some Apple product, which will be thrown away in a few years.
I buy plenty off the net; but not everything. The high-end retailers know that exclusivity is a key feature of true luxury.
In decades to come, the real high-end will be unavailable on-line. And that will be a major selling point.
Someone who lies about the little things will lie about the big things too.
Rolex and Patek are not real high end, though... Its not like buying a yacht or a custom helicopter... Its a serially produced watch. Rolex have already increased their online presence by being able to send dealer inquiries through rolex.com... Online sales are less than a decade away.
You probably wont experience it.
A good example, just like you can’t buy a new RW Smith piece online. But most manufacturers are not craftsmen.
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You're supposed to enjoy it!........have to admit I find it al a bit toe-curling but I usually play along with it.
I think on-line selling can cheapen the brand in some cases....and please tell me how to haggle effectively on-line?
If young snowflakes find walking into a bricks and mortar store and haggling too uncomfortable I feel sorry for them, people need to develop their social skills to a level where they can handle face to face interactions at all levels, these skills are being eroded and at some point in life they are always needed.
Walking into a shop selling luxury goods and being either fawned over or treated with derision is all character-building!
It's just shopping has changed - the high street is somewhere you go for experiences - your haircut, a drink - it's not somewhere you go to shop:
Along with other members of Generation Z, Lee, a student from Bromley, south London, has grown up buying clothes from websites that, like her, were born after the millennium. Instead of shopping, high streets are for personal grooming and grabbing a coffee with friends. “I’d much rather spend an evening browsing online than go in a shop,” Lee says. “I get ideas from things I see on TV or from spending hours scrolling through Asos.”https://www.theguardian.com/lifeands...-z-high-streetThe huge shift in behaviour is illustrated by where Britons spend: 10 years ago, 5p of every retail pound was spent online; experts predict that figure is heading for 50p. At the same time, retail’s share of overall spending is shrinking as people opt to spend their cash on experiences such as trips to the hairdresser, beauty salon or weekends away. Barbers and beauty salons, together with gyms and vape shops, are among the only retail sectors still growing fast.
Trying to fight this is trying to push back the tide.
I suppose it’s each to their own and only time will tell if nomos will be affected with using Chrono24. Personally I enjoy speaking with the AD and always manage a 10% off and that includes my Rolex date just 2.
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I was in an Omega AD on Friday enquiring after a a FOIS. I was told the were a limited edition (incorrect, numbered edition), no longer available (also incorrect), difficult to find (really?) and were going for twice retail (oh that’s a shame)
So tell me, what’s the worth of an AD?
Needless to say, I closed up the discussion and made my excuses.
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Imagine those were available online for less than retail....
Someone who lies about the little things will lie about the big things too.
Nothing to do with being uncormfortable. I just prefer online shopping and find the whole AD "experience" to just be rather dull and pointless. You walk into a shop and buy a product, it's not some magical activity to remember and cherish. It's only a watch for gods sake.
I enjoy the experience of ‘real life’ shopping and I’m not immune to a fancy environment and a bit of insincere fawning, though I’m not great at the dance and always feel I’ve become a kind of bad actor who’s not even sure what part he’s supposed to be playing. I aim for Sean Connery and it comes out Roger Moore. I doubt I’d pay more than £50 for the experience either way, and obviously for the convenience of having the watch on the day. However in the end there’s no substitute for seeing and trying the actual watch, pictures mean nothing, so you need a showroom for that.
Haha. Imagine. I wanted to check the fit. At least I learned that the Moonwatch won’t work on me.
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I find it difficult to understand what's in it for Chronext. Before becoming an official online Nomos AD they sold new grey market Nomos for 10-20% below mrsp.
Now they sell at mrsp, but Nomos already did that from their own site, with free shipping.
You currently have the option of buying from a physical AD (probably with some discount), from an online grey dealer such as Montredo with discount, or online direct from Nomos at mrsp with free shipping. Why would anyone buy from Chronext in that scenario?
What’s wrong with Wempe? I bought a GO from them last month and the service in Bond St. was impeccable.
My experience of trying on Nomos at Wempe involved me going in knowing exactly which models I wanted to try on. The staff didn't know which models I was referring to so had to get the catalogue out and I pointed it out to them. They did not have the models I wanted to see specifically but had similar ones as close approximations. I asked if I could order it with the shorter strap - something you can do for free on the Nomos website - but I was told I would have to buy my own aftermarket strap. I was given a preliminary lesson on in house movements but it was knowledge I already knew. There was some faux chat about what I do for a living. Yes the environment was lovely but the dance was really quite tiresome.
There will always be a place for the consumer who goes in store with a budget in mind and not a specific store. They can be guided by the staff. There might always be people who enjoy the experience but I must confess I'd rather they just acted like normal people. As it's been said above I'm an ordinary person buying a mass produced item. I'm not an oligarch buying a boat.
Nomos did not intend to cut it's ties with Wempe so I imagined they wanted to straddle both worlds. Some may mourn the fact the old world is turning but it never felt like my world in the first place.
I appreciate it’s not for everyone but I actually enjoy trawling the net looking for a particular watch. I find that far more entertaining than dealing with a bricks and mortar retailer.
That said, the one exception would be going into a store where the salesperson judges a book by its cover and would be hard pressed to give you the time of day. Then when you say you’ll buy something watching them back track can be highly entertaining.
Note that Richemont bought both YNAP and WatchFinder earlier this year as part of their online strategy. No doubt they’ve seen the success of other non-watch related luxury brands. Online doesn’t have to be cheap and nasty like Amazon or fast fashion.
Some brands like Burberry have an incredible online strategy that really engages with their target audience and helps promote brand loyalty. A couple of weeks ago Chanel set up a pop-up Instagram booth that was a huge success.
Ultimately I think it’s about seamlessly integrating distribution channels to cater for all customers and increase the desirability of your product.
I'm no longer in the first flush of youth and can only guess what a "pop-up Instagram booth" might be, but I must say I feel no joy in the AD experience.
However with things like watches, seeing, handling and trying them out in the flesh can be quite important. Maybe not so much if you've seen others wearing them, but anyway that's probably the main advantage for bricks and mortar in the future, certainly not the alleged "luxury" experience.
Whatever people might think of ADs, they pass a lot of costs down to the buyers. Direct selling only serves to provide better value for money for the consumer.
Hopefully Wempe scored an own goal and it turns out well for NOMOS. If they can show a (relatively) well established brand can go it alone without the middlemen, more companies will start doing it.
So, prices will fall if watches are sold directly will they? Don't hold your breath. Companies will just take bigger margins.