Rolex Crashes and Burns: What Went Wrong?
ฝัง
- เผยแพร่เมื่อ 21 ส.ค. 2024
- Check out the amazing "wise Guys Concept" watch and all the other beautiful watches IFL has to offer at bit.ly/Theoand...
Thank you to IFL Watches for sponsoring this video!
Shop vintage Rolex, Omega, Tudor etc : theoandharris....
Shop handmade leather watch straps : theoandharris....
Want me T&H content? Uncensored conversations? A place to ask questions and hangout? Subscribe to the Patreon! / creators
In todays episode, we dive into the surprising end of Rolex's 11-year, $50 million partnership with Formula 1. Discover the reasons behind this major shift and explore the rumors that luxury giant LVMH is stepping in with an even bigger investment. We'll discuss what this means for both F1 and the luxury brand landscape.
Follow T&H: / theoandharris
Follow Christian: / christianzeron
Partnership contact: digital@theoandharris.com
Watch inquiries: info@theoandharris.com
NOTE: there are NO giveaways in the comments section of this video
Check out the amazing "wise Guys Concept" watch and all the other beautiful watches IFL has to offer at bit.ly/Theoandharris
7:03 bro do you live in Portofino? hahahaha
Bring back Michael. The back-and-forth banter was golden.
bruh this is christian lol
I believe you're referring to "Michael"?
Do you mean Theo?
@@pmcrestoration He means Harris
*Harris
He's gone for good he's getting way more views on his own channel.
The viewership of F1 has grown significantly in the last 5 years, especially in the USA - ESPN went from paying 5mm to 90mm - so it's not shocking that the official time keeper rate has changed. Tag Heuer has strong ties to 1990s F1 and Heuer to racing in general. I think it is a good fit, and really, Rolex doesn't need this partnership as much as LVMH.
I’m wondering if because of this growth, F1 jacked up the sponsorship price from $50M to $150M, and Rolex told them to pound sand? Seems like Rolex doesn’t really need F1. I don’t think they’re capable of making a bad business decision.
Just me thinking out loud…some of F1’s “it boys” don’t seem to wear Rolex, especially Lewis Hamilton. How much longer until he has a Heuer on wrist? He was “named” a creative director/contributor/designer yesterday for Dior - an Arnault brand. Me thinks using the new medium of F1 and its massive licensing of other apparel manufacturers allows LVMH is logofy errythang.
@@chriscon8463 Rolex still has 24 Hours of Daytona and the 24 Hours of Le Mans in terms of motorsports marketing, two incredibly iconic events in the motorsports calendar. Although that being said, I wonder if LMVH will try to aggressive market themselves to WEC and ACO (organisers of Le Mans) to make themselves the "watch of the triple crown." TAG Heuer already had a longstanding Indy 500 sponsorship, and they always had the Monaco GP. If I were LVMH and TAG, I'd consider finishing the trio.
I agree...TAG needs it because it is very mediocre today and has lost its identity!
You’d be surprised how quickly a seemingly unstoppable brand can fall out of favor - may I direct you to exhibit A: Cadillac
Cmoooon Christian.... can we stop with the clickbait
Plenty of reasons why Rolex might not want to sponsor F1
Rolex only sponsors "higher tier" sports, such as Tennis, Equestrianism, Yachting, F1 is very well known to be becoming much more commercialised via Liberty Media, and therefore not fitting of the brand.
Also - Rolex is involved so much in environmental causes, which is extremely far removed from F1.
No doubt, they cannot compete with LVMH's bidding power - they'll have TAG Heuer on the boards at F1 going forward, but don't forget, if it sells more TAG Heuers, they'll be being bought from Boucherer, which makes Rolex more money anyway....
Crash & Burn? Cmon man.... this is another genius move.
Rolex could take their marketing budget to $0 and still sell a million watches a year
If people start to think the company isn’t solvent they might think twice before dropping 7-60k on a watch
Let's you know how overhyped they are. Most of their watches are meh. But because of the name... when I see rolex wearers, I think of fake it tik you make it people. Trying to illustrate wealth.. but not really wealthy
@@geno816 I doubt that Jackie Stewart , Paul Newman just to name the long list of people, wanted to fake anything. I hope your dislike doesn't change, so i can get my models without you as a competition:))) P.S. If you wear anything or care what others think of you, you have a very poor state of mind...
@user-fi5fr9us2t I am actually one of those people who could call my AD and get the watch I want within 2 ish weeks. But I don't. I have the ones I want (titanium yachtmaster, root beer, milgauss, air king). Rolex is still overrated. What turns me off is that they are "exclusive," but they make over 1.2MM watches per year. That's not exclusivity. Look at how many of the watches are on the secondary market. Meanwhile, Patek, AP, Vacheron, heck even Grand Seiko makes less than 50k watches per year. Then, the rolex Explorer story was a complete lie. Try also say every watch is touched by human hands.. yeah.. during the packaging process. They aren't hand made watches like the other luxury watch brands. They are assembly line watches. Only "special" because of the hype. I'll stick to vacheron, grand seiko, etc.
@@user-fi5fr9us2t you miss the point. Paul Newman was gifted his and even then Rolex couldn’t give those Daytonas away. It isn’t until relatively recently that Daytonas are so popular because of the hype
So Rolex loses their F1 sponsorship, but we are wondering, did you lose the studio? Is Rolex dragging you down with them? 😅
You spotted his watch?
@@almeladze Whats wrong with it
@@SGfamilies nothing if you have to ask the question
I'm guessing watch sales and mainly watch sales profits are way waaay down for him like everyone else. Even his coke habit seems to be down alot
@@reesebroekhoven3962 I am a 100 percent convinced he was totally drunk in a video a couple of episodes ago. Dont know, cant confirm coke thing.
Plot twist: Tudor steps in and outbids TAG
Rolex being Rolex why would they pay huge dollars to advertise a product these new F1 fans can’t go in and buy anyway. They don’t need the new customers because there is no reliably available supply for them. Pocket the cash and use it to build new production facilities to satisfy the existing base.
Exactly 👍
I have written something similar. Sorry for not observing your post before making a sort of copy. Greetings from Denmark
@@klaushaunstrupchristensen7252 Say what you want to say my friend. The comments are not a race to say it first, it’s a place to be heard in your own words even if they closely resemble mine or others.
Tag Heuer is THE motorsport brand. They've been sponsoring the Red Bull F1 team, and other various teams for decades. So sponsoring F1 as a whole makes sense for a next step.
They also sponsored the series in the early 2000s. It actually would feel good to see them back again.
Heuer, not Tag Heuer. Heuer made beautiful watches. I own a vintage Heuer Montreal my father gave me.
F1 has generally been a niche sporting series with a well-heeled fan base. Rolex is not interested in the mass market.
Rolex still has their name all over The Masters which is one of the most watched sporting events in the entire world.
I suspect A. They got outbid and B. The general ethos of F1 has changed in a way that isn't as appealing to Rolex as it once was. And while rich people still watch golf (and F1, sure), the racing heritage of Daytona is barely played to and is already covered by the 24 Hrs of Daytona.
I can't find my sources (so I might be essentially wrong ;), but I think LVMH is taking sponsorship not only for watches but of other commercial goods that are in their portfolio - Watches, Champagne, Apparel, etc. which is making it a whole different deal in magnitude.
Probably true... I just feel that F1 is becoming tooooooo greedy. WHY do they say no to Andretti for example? To NOT dilute income... Shame on them
Yeah and we should remember that they take it BACK. Before Rolex F1 was sponsored by Hublot.
Exacly my thoughts.
@@jan.lotvall The Andretti thing was taken out of context, in my opinion. Andretti wasn't rejected, they were just told to "come back later with Cadillac." GM scheduled 2028 as their entry season, and Andretti's proposal that F1 turned down was that they would enter starting next season and temporarily use Renault powertrains until 2028. That's a lot of commitment and challenges from a team that'll be brand new to F1. They're saying they'll build a car--or have someone build it--for one season before the 2026 rule changes come. They'll then have to design around the new regulation set around Renault's new powertrain, only to use it for two seasons and then make another design optimized for the Cadillac powertrain. Judging by how Renault-Alpine is performing this season, I might even say Andretti may have dodged a bullet.
Speaking of Renault, they have poured over a billion dollars into F1 since 2016, only to loiter around the midfield. The biggest car manufacturers have failed in F1, so I don't blame the sport for being a little weary of a privateer team--a very renowned privateer team but a privateer nonetheless--trying to do it themselves for three seasons without manufacturer support. What if Andretti have disastrous three seasons spending all that money, get scared and pull out, or the financial costs sink the entire program before Cadillac even has a chance to come in for rescue? I would've loved to have Andretti come in next season, but it would be even better if they can come out of the gate swinging and properly equipped with GM support fully ready to go.
Bernard Arnault owner of LV also owns Tag Huer they paid triple what Rolex did per year. He is worth 197.5 billion USD😮
F1 is becoming like football. For the masses. And they dont do marketing for the masses… they let the successful market themselves.
Could it be that F1 may have tripled the price of sponsorship and Rolex have said no thanks, we don't need to spend that amount on one area of marketing. Our money will be best spent elsewhere!
F1 has always been Heuer - it’s a natural fit. It was somewhat of a surprise when Rolex did the F1 deal. Rolex had a deal with Le Mans and Daytona where the synergies were. Heuer remained the official sponsor of Monaco and that really annoyed Rolex throughout. It’s not as seismic as you’re portraying.
Rolex probably looked at the value of paying more than LVMH and decided that the increased viewership that they had seen didn't sell more watches, so why get into a bidding war not to sell more watches?
The increase in formula one viewers will obviously make sponsorship more expensive. But if Rolex believes that the new viewers can’t afford a Rolex watch. Then why would they bother? Greetings from Denmark
In 2015 I started to become a Formula One fan. I saw all of their advertising on TV at the circuits and decided to check online some Rolex watches. I started a business 10 years prior and by now I was very wealthy. It never occurred to me to buy a fancy watch. But here I was, checking out Rolex. Today I have eight of them. For me, their advertising strategy worked.
I'm shure Rolex thought that the money would be better spent on outher projects. Rolex is not running out of money.
Furthermore, Rolex is heavily involved worldwide in the sport of Sailing. Recently the Spaniards won the Sail GP world series championship sponsored by Rolex. A notable worldwide event to market their Yacht-Master timepieces to the masses.
F-1 needs to get on the Rolex wait list. We will call you.
1. Forcing your competitor to shell out 3x what you did is a win
B. LVMH is more likely taking a shot at Swatch than Rolex.
III. The prices aren't mutually exclusive. $50m might have been the right value for Rolex, as they leant as much credibility as they took in advertisement. $150m might be the right value for TAG to try and rehabilitate their name and start competing again.
As you said, Rolex is thinking way ahead. F1 might not be exactly associated with luxury in the future at least not what Rolex wants to be linked.
If F1’s American cousin is a sign of the future… not the Rolex market
Considering Tag Heuer makes the F1 and Monaco it's a better fit. Rolex still has the 24 Hours of Daytona.
Now it can be safely assumed that Rolex might be the party ending the arrangement but it also might be F1 who pulled the trigger first. With F1 being acquired by venture capital, their primary objective is to make money. With the increase in viewership, they might have re-evaluated their partnership and might have requested the higher amount from Rolex.
To be honest, I never even noticed Rolex being the main sponsor of F1. And they would have done their due diligence on this aspect of brand recognition out of doing business with F1.
F1 isn't green. Bad for the image.
Well they do use glass bottles everywhere and have hybrid engines. That is already quite green
I agree @aurelius388, never understood why they sponsored F1 besides it not being green. It is a sport loved by “the working class”. Rolex for me is wimbledon and wealthy people.
I doubt all a sudden Rolex woke up and cared about F1 being green!! They would sell every watch if they sponsored China labor camps!
And I doubt all the rich people going to F1 in their private jets and yachts are worried how green F1 is. Maybe on the surface to act like a SJW, but deep down 😂😂😂😂😂
@@The_Uni85 Don't forget Rolex and the Major Golf Masters as well. That's serious dough.
I think it's just a calculated move based on ROI - Rolex isn't looking at the numbers in the audience, but their average net worth. They want quality over quantity. And F1 doesn't meet their targeted metrics.
Have you been to an F1 race? Tickets there can cost more than a Rolex?
@@TheZulAman Right. So many comments I'm seeing like this, such as one calling F1 "working class". Bwahaha, some people really have no clue what they're talking about!
Ok no…Rolex is absolutely not out of money. They are calculated and targeted. They know their exact ROI on their 50M F1 deal.
Now F1 has grown leaps and bounds based on Drive to Survive and added USA circuits. I’m sure F1 dramatically raised their rate and Rolex isn’t about to be pushed around by anyone. They aren’t going to foolishly spend. They don’t see the ROI on $150M on that deal. Period.
Furthermore…no driver is sponsored by Rolex. Additionally if you go to the Pattock (where tickets are in the thousands) you’ll see more Daytonas and various other Rolex models on fans more than all the other brands combined and it will stay that way whether they sponsor or not.
Rolex doesn't need F1 to sell watches
Heuer = F1 , Tennis = Rado , Equestrian = Longines , Olympics = Omega , IAF Athletics = Seiko , Tissot = Cycling, Golf = Rolex
Sponsoring for a product you can't buy makes no sense. Why wasting money in ads no-one is able to buy? For some celebrities? I tried to buy a Rolex once. I was not worthy and got lied to. I bought a different watch where I was appreciated. Now I wear a very nice Cartier.
Thank you for making high quality videos!Love amzwatch ’s watches
got my 39mm with the white dial on the 3-link "Bader" bracelet watch on MaMaCoo 3 weeks ago and am loving it to pieces. Absolute fantastic watch that wears super comfortable on my 6.75 inch wrist. Chose the 3-link over the 5-link bracelet for the toolless quick adjustment. Way more comfortable than my Longines Hydroconquest 41 mm.
What went wrong with Rolex? When they got caught in price gauging and controlling inventory to inflate prices. Little they knew, they have strong competition.
Less people watching race cars circling plus Rolex is in green environmental safe mode. Therefore race cars do not fit to the new image .
Still sponsoring Daytona and LeMans though.
F1 attendance rates seem pretty solid still
this consolidation is happening in every industry. Basically, while capitalism is a major systemic improvement to the systems that came before it, it is also far from utopian. It has a shelf life as a system and we are running into the late stage issues that are programmed into it, if they are not addressed.
i’m thinking the NPF in france nationalise LVMH as a step one lol
This won’t make a difference to either Rolex or F1. I’m probably wrong, but I think Rolex likes to sponsor individuals more than leagues. Federer, Alcaraz, Woods, Spieth, etc. My understanding is they sponsor personalities whose identity exemplifies the same attributes as the brand. Also, half the F1 drivers wear Richard Mille watches. That might be a concern for Rolex. But what do I know.
They simply don't need to be in every sport. The mens Wimbledon winner was wearing a beautiful Daytona while raising his trophy....enough said!
got my 39mm with the white dial on the 3-link "Bader" bracelet watch on amzwatch 3 weeks ago and am loving it to pieces. Absolute fantastic watch that wears super comfortable on my 6.75 inch wrist. Chose the 3-link over the 5-link bracelet for the toolless quick adjustment. Way more comfortable than my Longines Hydroconquest 41 mm.
Rolex had strongest sales growth in 2023 and avoided the “luxury slump” so I don’t think you can assume financial distress. Rolex isn’t really a racing brand and aren’t the most obvious brand for F1 as say Richard Mille or Huer. They may perhaps be allocating marketing budget to sponsorships that are more aligned with the brand. F1 growth is into mass market, which is a more obvious market for Heur.
Christian, thanks for some educational and substantial content, I was speculating that may be Rolex does not need the F1 partnership any more but if Heuer and Richemont did that, it is really aggressive! This makes sense as I have been wondering why Tag Heuer has raised their price point and sort of placed themselves in a new bracket. Richemont is desperately trying to raise Tag Heuer's cache.
You’re crazy if you paid $1700 for a plastic quartz watch
If Rolex isn't sponsoring F1 than that downgrades F1 in my eyes 👀
They probably see something in F1 that has changed recently that they don't want to be a part of
It’s because no one watches F1 anymore. Their numbers are way down.
Look at the 70 year relationship with yacht racing, and now sail GP Rolex has.
Rolex probably got quoted it's 150 mil from next year, and felt maybe it wasn't value for them anymore 🤔
F1 did not really fit to Rolex - maybe the historic 24 hours Le Mans - Race. I completely can understand this move. Burning fuels like hell?
Did Rolex leave their $50 million deal or did they decline to pay the new price of $150 million
TH was once the official timing partner of F1. This is nothing new.
While the flipper market has certainly tightened, waitlists for several Rolex models from the AD, is still over a year in some areas depending upon the model. Any company that has a one year backlog, certainly isn’t hurting. Also, Tudor is expanding by leaps and bounds; and offers some really hot watches as well. Maybe F1 got greedy and tried to bend Rolex over. They are getting 3X from Tag. Rolex doesn’t need to advertise at all if they don’t want. They still have the Masters, which quite frankly, is very high end as well. I think Rolex is putting that F1 ad money straight to the bottom line.
LVMH just throws too much money at F1. They made an offer F1 can't refuse. 😂
Rolex is in a position where they don't have to overpay for anything... If they perceived LVMH's offer to be too much, it doesn't really surprise me that they bowed out... F1 is on the rise, Huer undoubtedly has the stronger ties to the sport and therefore should probably want to try and capitalize on the growth of the sport more than Rolex wants/needs to. Makes perfect business sense to me.
Perhaps it's not as significant a move as you think it is. I am a huge Rolex guy with a significant collection and I had no idea that they sponsored F1 while I was well aware of the two other sports. None of my fellow collectors or buddies even watch F1.
Why did olex stop their sponsorship of F1? Because they don't need it! They increase their bottom line by $15,000,000 and will go on to sell more watches than ever before.
Thanks for an insightful and thought-provoking video. Rolex has never been synonymous with motor racing… I think it was more about prestige. I attended my first F1 GP with my dad in 1968, and since that day have been mesmerized by the link between watches and F1. The official sponsorship of the sport has changed numerous times… originally it was Heuer, followed by Longines, TAG Heuer, and then Rolex for the longest time. Word has it that TAG is again to be the official watch sponsor from 2025, which is cool as their roots have been in motor racing since the 60s. The power of advertising to kids is a real thing… I had to wait 52 years to receive my Heuer Autavia as a 60th birthday gift from my wife!
Bro you need to tell me where you got that shirt immediately.. I can’t stand how much I want it. Thank you
I think this is as simple as F1 wanted a ton of money, and Rolex just doesn't need them to sell a single watch.
Ever since I bought a watch from mamacoo , My question is if it's this hard to tell them apart, what is the point of owning an authentic watch?
LVMH just decided to show ROLEX what FU money really is.
F1 is not classy
Swatch Group profits down 70% on poor market performance in Asia. I imagine this hit Rolex even harder. Swatch announced a 20% production drop with no layoffs to deal with dwindling demand, but Rolex is ground zero for the watch bubble. I imagine they over committed to expanding manufacturing and need to completely reevaluate their current situation.
Marketing and partnerships won't die out, but they could have been outbid, or they could have just seen limited returns from their current partnerships.
Rolex was told the price was going up by a factor of three & noped out of there.
LVMH’s revenue last year was pushing $100 billion. So while Rolex has a ton of cash, they can’t compete if LVMH really wants to open the checkbook.
I think there's another point. Sure Rolex is the main sponsor of F1 and that's worth alot. But pretty much every driver has their own watch sponsorship. So you don't really see anyone wearing a Rolex. The real excellence, the drivers, are wearing their own brands Norris has Richard Milles, Russell has Vacherons, Hamilton has IWC's, Verstappen has Tag Heuers, and the list continues.
Brilliant move by LVMH if you ask me. They just came out with the great "Glass Box" Chronos. Tag seriously, must continue in the heritage of motorsports that they used to have with the vintage Heuer chrono models. It was in their DNA. They like to charge a premium for their brand and so this is the reason going forward. Rolex has a strong enough brand that they do not need to be in F1 motorsports (I would still desire a Rolex regardless). Good overall for the industry, I should think.
for LVMH, the F1 fans are his market. also reconecting TH with the motosport, roots is kind of what they have been trying lately, with all the new chronos.
It’s not that they ran out of money, it’s just that LVMH has way more money and got outbid.
I've about had it with Rolex. Been trying to buy a couple pieces for several years. Getting shit on by dealers is not fun and I don't play the game so I don't get the watches I want.
In the meantime, Omega? Which makes a better piece...no problem getting what I want, occasionally I have to wait a month or two but I'm treated well by the dealers and I get what I want.
Anyone know the watch Christian is wearing? Thanks ✌🏼
I’m sorry, but besides a rose gold reverse panda Daytona, there is nothing in the entire Rolex catalog that even begins to excite me more than a similarly priced JLC or even Ulysses Nardin. Rolexes are just well made but boring status symbols created by a company that treats its customers like crap. I’m deliberately skipping Rolex in my journey and moving on to JLC for my next watch.
Rolex doesn't have to pay that kind of money for ads, also I think that LVMH might have said to F1 that they will pay 50/100mil more than what Rolex is offering. LVMH will gain more than Rolex ever could on that deal, simply because there is not much room left for Rolex to grow.
I think it was a don’t mess with me from Rolex.
Are more people going to buy Mall watches because they are sponsoring F1?
It’s probably because their branding gets diluted because drivers are all wearing different watches in interviews, post race and have different brand plastered on their cars.
Christian, nice work! Who makes your polo shirt in this video?
music to my ears
I think this works out for all parties. F1 viewership demographics are skewing younger and that’s likely Liberty’s goal. Younger people probably have less expendable income than a Rolex customer.
MaMaCoo Literally the happiest place we men are!
It's LVMH.
How so?
Oh well. I asked the question before watching the whole video. 😂
It's because they're not sponsoring any team and drivers wear other brands. It's not wholesome.
I agree, interesting developments. The F1 owners doesn’t care, cash is king, the highest bidder gets the sponsorship.
Who cares about Formula 1 these days ?All people I know that used to watch that spectacle 10 years ago are no longer watching. Completely uninteresting ! Almost no overtaking on the race track. Better go for 24 Hour Races like Le Mans or Nascar or Indy Car etc.
Of course Tag Heuer is image wise strongly related to car racing, (more than Rolex ?) but 150 Mio seem too much for an event that is struggling in the meantime more than ever.
LVMH is also going to buy Richemont, because Arnault wants Cartier, the number 2 in the watch world! Tag Heuer belongs in F1, they have a great history in F1.
1.1bil people watch F1 worldwide. Far more people can afford and get a Tag than a Rolex. Not to mention the other brand positioning for LVMH. Furthermore, Tag Heuer has a lot of motorsport history.
OMG, this was weak! One important question was why would TagHeuer do that? And how this would be a COMEBACK, not a NOVELTY? … Heuer being a pioneer in racing sponsorship and especially in classic F1. … TagHeuer being the official time keeper and modern F1 sponsor for decades. … and the brand having probably the most extensive RACING related collection in the whole industry.
Very light, this time! It seems you were in a hurry 😂
This why they keep servicing stolen watches 🤔
Rolex needs to add Apple tag technology in its watches.
If this is a competition of who gets to be recognized as the timekeeper of F1 races then I would prefer Tag over Rolex. I think the aesthetic of F1 to be so beneath Rolex. And I wouldn't worry if Rolex is making money or not. Let Tag slip into the F1 clothing it's fine.
Sponsorship come at an end, other brands Tag, here, offers 150m, F1 ask Rolex, what's your offer... Rolex says, let them have it. "Deal closed"
Doesnt matter how much you can spend, when yr price suddenly triples, psychologically it's hard to justify or swollow...
They let Omega have 007 for the same reason.
Wait, why do we think they are stepping away form the F1 relationship? Has there been a public announcement?
Google can be your friend.
Focusing more on sports that don’t require timekeeping :)
Rolex was built on hype. It was an over inflated balloon by uneducated people with too much money who wanted to seen wearing a Rolex.
I own several Omega watches . I like Vacheron Constantin . Many Rolex owners are unaware of other fine watches. Rolex models are stale
overpriced with artificial scarcity to hike prices. The Tudor line was designed to be a second banana to Rolex. Can’t afford a Rolex
Well then the Tudor line with its cheaper price fit. Look at the early Tudors they looked like Rolex with a cheaper movement. The house
of Rolex is a house of Hype. More and More people are finding there is life after Rolex.
The numbers do add up for Tag-Heuer if they fill they can increase revenues & profits. It’s an investment, a long term investment.
Been hearing this story for years
Rolex is strategic and private. With that being said, that's why they are perceived as upper echelon, when it's just damn good marketing. Thanks for the content. Nice.
When people are saying #MaMaCoo is a better option for buying a watch,I very much agree!
elite business entities are rich for a reason, they are intelligent, not sure if that is the right word;These football clubs getting placed in portfolios where by they are bought to reward the former investor with profit despite a poor bottom line may just be a strategy to avoid paying annual income taxes on that business.However, they will profit from the eventual sale of that club or asset, so, who is to say that they are over paying? What if the negative income/profit is manufactured?
Apparently F1 interest has declined as I understand it. I would be expecting a new Electric F1 or something like that. Petrol hydro-carbon fuel machines are probably seen as old tech today. I know people like them and that is cool but in the future I see electric making big moves.
In 20 years.. Rolex could be had beens. We already know they lie in their marketing. The explorer didn't scale mountains. They told a story. That was a lie. They make assembly line watches. "But they are touched by human hands" meh
Where is michael
We use full dining set for bbq in london!
Rolex is a thirteen billion company. Arnaud is a 200 billion family!