Watches of Switzerland Sales slow as UK Growth dives

[Stegeorgy]

Interesting online article…

https://apple.news/AgJAi5jZ8SpeehkcwCXBCrg

“Despite the well-publicised concerns about the macro-environment, demand for our products remains robust with client registration of interest lists continuing to extend”

Encouraging that the “lists” that many have doubted are real then ! Hmmmmm

[Alansmithee]

Another article:

The retailer said it plans to relocate its 900 sq ft Rolex boutique on Bond Street to a bigger 7,200 sq ft location on Old Bond Street next year. “This new flagship will reflect the importance of the London market and the special relevance of London to the history of Rolex,” said Duffy.

and

The retailer retained its guidance for the year of making £1.45 billion to £1.5 billion in sales while adjusted EBITDA would be flat to 0.5% growth at £157million to £169 million.

https://www.retailgazette.co.uk/blog...nd-for-luxury/

[dbrickashaw]

Encouraging that the “lists” that many have doubted are real then ! Hmmmmm

Now we just need to find out if the lists actually contain any real names, or just pseudonyms for their grey dealer friends

[Alansmithee]

Now we just need to find out if the lists actually contain any real names, or just pseudonyms for their grey dealer friends

Someone needs to get on a list and then do a Subject Access Request and ask who they share the information with...

Alternatively - given some claim that Rolex gets to see these lists - do a Subject Access Request with Rolex head office and see what information they hold on you...(likely none I wager).

[DanielBB]

Someone needs to get on a list and then do a Subject Access Request and ask who they share the information with...

Haha, that made me chuckle. I do wonder if they would provide that info in a SAR - doubtful. Nice idea though.

[Samlack99]

Someone needs to get on a list and then do a Subject Access Request and ask who they share the information with...

What a great idea, never considered that...

[alanm_3]

And then you might find you're no longer on said list

[earlofsodbury]

Another article:

The retailer said it plans to relocate its 900 sq ft Rolex boutique on Bond Street to a bigger 7,200 sq ft location on Old Bond Street next year.

https://www.retailgazette.co.uk/blog...nd-for-luxury/

So eight times the space - WTF are they actually going to put in it given the perpetual non-availability of anything you might actually want?! An entire Brigade of sneery salesdrones dismissively waving you back outside? Lego models of the entire range? Artists-impressions of popular steel sports watches? A corn-maize?

[IAmATeaf]

When I last visited my local WoS I was told that there is no longer a list but that existing expressions of interest have been kept and can be added to until there is no longer any interest

Asked how a person new to Rolex would be considered and was told by building a purchase history!

[Kingstepper]

When I last visited my local WoS I was told that there is no longer a list but that existing expressions of interest have been kept and can be added to until there is no longer any interest

Asked how a person new to Rolex would be considered and was told by building a purchase history!

A collection of 'expressions of interest' is a list.

[David_D]

And typically the share price responds with an increase!

https://www.bloomberg.com/news/artic...w-london-store

[Gareth-W]

Interesting online article…

https://apple.news/AgJAi5jZ8SpeehkcwCXBCrg

“Despite the well-publicised concerns about the macro-environment, demand for our products remains robust with client registration of interest lists continuing to extend”

Encouraging that the “lists” that many have doubted are real then ! Hmmmmm

You should write alarmist headlines for the BBC website mate.......!!!!

"The London-listed boutique retailer saw total revenues increase by 31 per cent to £397million in the three months to the end of July, with demand for luxury watches surging by around a third to £342million.

Sales in the UK and Europe rose by 8 per cent to £239million after an impressive comparative period last year when its stores benefited from destocking and a release of pent-up demand when Covid restrictions were loosened"

[Stegeorgy]

You should write alarmist headlines for the BBC website mate.......!!!!

"The London-listed boutique retailer saw total revenues increase by 31 per cent to £397million in the three months to the end of July, with demand for luxury watches surging by around a third to £342million.

Sales in the UK and Europe rose by 8 per cent to £239million after an impressive comparative period last year when its stores benefited from destocking and a release of pent-up demand when Covid restrictions were loosened"

Hmm I didn’t write the headline mate !!! I merely published the link. Make of it what you will.
I find it amusing that WOS are confident of potential future sales based upon the ever expanding hackneyed lists !

[David_D]

"The London-listed boutique retailer saw total revenues increase by 31 per cent to £397million in the three months to the end of July, with demand for luxury watches surging by around a third to £342million.

Sales in the UK and Europe rose by 8 per cent to £239million after an impressive comparative period last year when its stores benefited from destocking and a release of pent-up demand when Covid restrictions were loosened"

Surprising but wonder if it’s a last “hurrah” before economic reality hits home as we head towards autumn and winter. Not that I have any reputation for the accuracy of my forecasting.

[Gareth-W]

Hmm I didn’t write the headline mate !!! I merely published the link. Make of it what you will.
I find it amusing that WOS are confident of potential future sales based upon the ever expanding hackneyed lists !

Er, you started the thread and chose the title….yes?! Only pulling your leg here though.

Also given it’s been well reported that the WoS group are now limiting Rolex supply to people already on their lists and not taking new Rolex customers on I’m not sure how the lists can be ever expanding?

[redmonaco]

Surprising but wonder if it’s a last “hurrah” before economic reality hits home as we head towards autumn and winter. Not that I have any reputation for the accuracy of my forecasting.

Generally in times of hardship its not the Rolex+ brigade that suffer, they just get richer...

[DanielBB]

Generally in times of hardship its not the Rolex+ brigade that suffer, they just get richer...

Agree that top 10% wealth-wise usually suffer less in a recession / times of hardship as you’ve put it.

Though are they’re the ones driving the current demand for Rolex? Im not so sure. Guess we’ll find out soon enough.

[David_D]

Agree that top 10% wealth-wise usually suffer less in a recession / times of hardship as you’ve put it.

Though are they’re the ones driving the current demand for Rolex? Im not so sure. Guess we’ll find out soon enough.

I’ll be surprised if the Rolex market isn’t hit. Soon as the four figure utility bills start landing, some will decide to cash in their “investment”. My theory (quite possibly wrong) is that supply 49/demand 51 supports a rising market while supply 51/demand 49 is a potentially falling one. So basically the tipping point may be reached and a flood of sellers may change the market dramatically.

Time will tell if that happens or if I’m just deluded!

[Neilw3030]

So WOS are moving from a store with no stock, into one 8 times bigger that still won't have any stock ??
How the hell does that work ?
WOS are talking to Rolex about increasing supply, well they haven't done it for anybody else yet, why now

[David_D]

WOS are talking to Rolex about increasing supply, well they haven't done it for anybody else yet, why now

Guess that’s the stock previously allocated to stores that have had their Rolex AD status taken away.

[DanielBB]

I’ll be surprised if the Rolex market isn’t hit. Soon as the four figure utility bills start landing, some will decide to cash in their “investment”. My theory (quite possibly wrong) is that supply 49/demand 51 supports a rising market while supply 51/demand 49 is a potentially falling one. So basically the tipping point may be reached and a flood of sellers may change the market dramatically.

Time will tell if that happens or if I’m just deluded!

We’ll find out soon enough. Four figure utility bills, you’re right of course. Scary times.

[Gomers]

So eight times the space - WTF are they actually going to put in it given the perpetual non-availability of anything you might actually want?! An entire Brigade of sneery salesdrones dismissively waving you back outside? Lego models of the entire range? Artists-impressions of popular steel sports watches? A corn-maize?

well played sir


Sent from my iPhone using Tapatalk

[Jari37]

So WOS are moving from a store with no stock, into one 8 times bigger that still won't have any stock ??
How the hell does that work ?
WOS are talking to Rolex about increasing supply, well they haven't done it for anybody else yet, why now

Was chatting to the sales manager in the local Goldsmiths & they're about to move to a much bigger store in the same shopping centre. Seemed confident this would mean a larger allocation from Rolex, but he mainly wanted to tell me this meant they could stock more high-end brands, incl. GS, Panerai & Cartier.

[markrlondon]

So WOS are moving from a store with no stock, into one 8 times bigger that still won't have any stock ??
How the hell does that work ?

It's essentially going to be a museum, as far as I can tell. A celebration of Rolex.

One assumes (and this is just an assumption) that Rolex are subsidising the store heavily,

[David_D]

If things start to drag on and those people how did buy high start selling at a loss it hardly something to feel good about it means someone is hurting financially.

Err, having re-read my post, not sure how that interpretation could be put on it. I was musing as to how the financial issues that we all face might affect the sale of expensive watches.

If there is anyone in a position where a loss would be likely to compromise their financial situation materially then they would be very well advised to sell now. I struggle to see prices going up for the reasons I stated before. I may be right or wrong but anyone who can't afford to risk the downside needs to get out pronto, I would have thought.