Scared of their shady AD network ruining their reputation by selling direct to the secondary market creating false scarcity maybe... and that would be a legit fear.
They definitely have a problem with customer experience in practice. I’ve heard some horror stories, especially since things started to get really unavailable. Cheers 😀
There's rumors this is happening at one of my AD's locations here in Canada. That the store is in collusion with grey market flippers, and no watches are going to customers.
I don't think I'm right when I say this - but it's what I 'want' the purchase of Bucherer to mean. :) Rolex has incredible brand equity, but that equity has been damaged over the years. No one doubts that the watches are very special... but the experience of buying one is not. Wait lists aren't necessarily deal breakers (within reason), but Rolex has become damned by association. Association with ADs telling you to buy jewelry or additional models you don't want. Association with the grey market where everything is priced crazily because the ADs are playing idiotic games. My hope is that Rolex buying Bucherer is the first step in bringing ADs back in line, the first step in making the 'buying experience' as special as the watches themselves. I was in an airport recently and two guys sitting near me were talking watches. One said he'd recently bought a Sub. The other guy laughed and the first words out of his mouth were, "How much over did you have to pay?" I think Rolex has no problem with scarcity and exclusivity, particularly around certain models. But there's now an ugly association with the brand. An almost universal feeling that if you did get your hands on a Rolex, you got taken for a ride.
Could be a good hope. I think Rolex are aware that they have some really bad ad behaviour out there and they’re trying to figure out how to fix it. Thanks for sharing 😀
I would disagree......Rolex isn't scared. They're in control(operative word) and they know what they're doing. That being the case, the AD's are nothing more than greedy middlemen. They're not in charge.....Rolex is.
They have lost their superlative buying experience and cachet. Now they are the brand preferred by posers and Dbags. Wearing one sends the wrong signal in some circles. A shame, I used to appreciate their tool watches, but would not wear one today. I hope that the brand gets back to their core, but it appears that dollars (Pounds, Euros, Yen etc) will win out over long term sense.
That is very much the bitter truth with the Rolex experience. They want to control what you are allowed to buy. It is the prestigious brand for criminals and money grabbers. ( This has not always been the case.)
Great analysis as always. Buying Bucherer could also allow Rolex to make money when customers buy their competitor's watches. The unavailability of Rolex has certainly created hype around the brand. However, it has also created another common scenario: When a customer walks into a multi brand AD (like Bucherer) and wants a Rolex but eventually walks out wearing something else, that's lost revenue for Rolex. Personally, I'm very turned off by the AD experience of waitlists, point system and bootlicking. I bought my Rolexes before the hype and would have bought some newer models but the brand has lost a lot of their charm for me.
AD's really can be hit or miss. Some are excellent, but I've had my fair share of arrogant "why are you even the store" behaviour to be ad bit jaded as well cheers 😀😀
Good video. I agree with your analysis. TH-camrs are collectively saying it’s the end for ADs as Rolex wants to get into retailing. But Rolex already has a system that works well for it. Rolex doesn’t want to control 1,000-plus ADs around the world. It’s too costly. Rolex already has a network of ADs that it sells to. The reason Rolex purchased Bucherer is exactly as you said, they don’t want Bucherer to fall into the hands of another large conglomerate that could ultimately have leverage on Rolex. Rolex even said this in the press release, but TH-camrs just want to create drama for clicks and views.
Thanks - glad you feel my perspective resonates to some extent. A boutique only model just doesn’t seem feasible to me when you’re selling a million watches a year. Currently AP sells 45.000 watches and about 150 boutiques. That’s 300 watches per year per store. Rolex has 2000 dealers, averaging 500 watches per store. Reduce that to 1000 and that’s still 1000 per store. That’s not a cosy little boutique. That’s a supermarket and starts not being exclusive… The numbers just don’t add up to boutique only to me. Thanks for sharing your thoughts too 😀😀😀
@@Mike.thiswatchthatwatch good analysis. The numbers already tell you a lot but some people are just dumb and rather listen to hearsay than do some simple thinking for themselves. It’s frustrating watching these thick TH-camrs.
The large Bucherer stores can't make enough money just selling Rolex watches . . . customer experience becomes too narrow, not enough Rolex watches available from the production line. An interesting dynamic might be . . . what happens if other major brands stop using Bucherer? Rolex is mainly considered a luxury brand because of marketing and volume - selling millions of watches a year. It has become a luxury Swatch. A far bigger fear at Rolex must be what happens when people realise Rolex is NOT a luxury brand.
I came to the realization a long time ago that being placed on the fake waiting list which is really just the "preferred buyer" list in the hope that an AD might call me in three or four years is beyond stupid. As if $9,800 for a stainless steel watch wasn't ridiculously stupid as it is. Happy to go to JLC, GO, Omega, GS, etc. This only stops when we as consumers put a stop to it. I have a list of AD'S I will never use again for any reason. Sticking to it.
Rolex has become the badge of 'gaudiness' similar to a chrome suit or a gold wrapped Lamborghini with a gold chained gang banger rapper at the wheel ! Their image has greatly deteriorated over the decades especially in the last.
Glad you enjoyed it. I don’t profess to know “the truth”. I like to think though that the less dramatic scenarios are more realistic in general. The sky is very seldom falling quite as fast as the internet would have us believe… Cheers 😀😀😀
@@Mike.thiswatchthatwatch Putting numbers into perspective. Rolex generated a profit of $8b Swiss Francs in the last financial year. In my country Australia, our largest bank reported A$10b. Equivalent to $5.6b Swiss Francs. Rolex profit only accounts for new watches sold at retail. No additional interest income or fees, revolving credit facilities or commercial credit that a bank has access to in their portfolio. Yet Rolex makes more money from a single item purchase with no recurring income? That's incredible!! Imagine the potential for the cpo program once it's fully integrated. The cpo program is not a mistake that many people have suggested. It's engineered to generate a new income stream from the grey market. Rolex are building new factories to support this. In 2 to 3 years time I think you will see profit margins triple. If I were running a Swiss bank I would partner up with Rolex to manufacture Rolex credit cards. Make them out of ceramic. Ladies versions with diamond encrusted, mother of pearl inlay, gold, platinum. I think you'd generate enough sales on those alone more than the potential of credit interest from using the credit facility on the card! Rolex are so big they could open their own bank to do it if they wanted to.
With the introduction of CPO program Rolex clearly highlights there priority, the business of new watches is already in their hands so that step is a first into sharing pre-owned profits.
Well I have been invited by a Bucherer store to come and discuss my Rolex watch requirement. They replied to my email with a telephone call and said that I could my desired watch and they would get it for me albeit with a small delay. I am going in two weeks time and look forward to their response and how they treat me.
Very in depth analysis. You made it so that my brain could wrap itself around the Rolex/Bucherer merger. Very thoughtful and concise. Really appreciate the solid breakdown of this issue for those of us not in the Rolex watch ecosystem.
Definitely scared 🎉🎉🎉 their biggest fear is ,the world will wake up from the dream and realize that although good, they aren’t a good as the price would suggest . They are ridiculously over valued and it’s time the bubble popped 💨🌬️
Not to mention not having reasonable control. Let’s say PE bought Bucherer - Rolex could cut their allotments, divert it to other top stores with 100% confidence they’d all sell.
Not so sure. Watches of switzerland was owned by private equity from 2013 to 2019. In that period they made multiple buy ups, including mayors in the us. As I say in the vid, and I agree with you now, it’s probably become too expensive to do now compared to 2013, but it’s not without precedent that PE has taken an interest in this market Cheers 😀
Thanks for rhe feedback - generally I always lean towards the less conspiratorial explanations of things. I find it usually (but not always) turns out to be the case. 😀
The stock drop of Watches of Switzerland seems to indicate the market disagrees strongly with this thesis. It’s not defense it’s offense. Prices are going to go up, especially in their certified pre-owned market.
Putting too much significance in this acquisition. Watches of Switzerland (WOS) might have been able to gobble up Bucherer but even if they had, it would not change the dynamic of their relationship with Rolex. WOS has been eating up Rolex ADs because they know how to use Rolex to pluck money out of consumers (Bucherer was playing the same game when the ate Tourneau). Rolex bought Bucherer because they’ve been doing business with them for close to 100 years.
Agreed. I thought this move was about protecting Bucherer, not the doomsaying baloney. Hyperbole and outrage has become so de facto with online communication that actual knowledge, calmness and appreciation for the subtlety and details are getting drowned out. Keep doing what you’re doing.
Its just Rolex having more control ovber their sales and making more money ...th grey market will for sure take a big hit but it will never be gone. Just drown out alot of the dealers out there that are not good
Not necessarily to disagree, though the Asia market is huge, eclipsing Americas or Europe, but not combined. While in Japan I never encountered one of the four Bucherer stores but I saw a whole lot of other places to get watches. Just visiting Nakano Broadway was to see enough Rolex to wear out my brain and eyeballs… I just don’t believe that market share of retail necessarily means market power. People choose Rolex because they want to, just like people choose Walmart. But they don’t need them. As long as humans are adaptable there are other ways. By the way I have thoughts on why the supply-demand of Rolex turns into watch sales and flipping of other brands. Other brands succeed by their association and proximity to Rolex. Rolex isn’t an island. They succeed when Swiss watchmaking as a concept succeeds.
Thanks. Will try. Just trying to share my perspectives. I may be wrong and try not to pretend to have all the answers, but rather share a perspective. It does feel good when the perspective resonates with people though 😀😀😀 Cheers 👍
Great Video! I wonder how other brands will respond to this move? A watch brand, other than Rolex, realizes that every time Bucherer sells one of their watches, some of the money goes back to Rolex. That woul leave a bad taste in my mouth.
Have no clue 😂 First off they’re calling the swiss competition authorities and asking for garuantees that Rolex won’t engage in unethical practices…. 😀 It’s gotta be tough knowing there are 100 stores in high value markets where your competitor has detailed insights into what sells off your shelf…. 😀
@@Mike.thiswatchthatwatch Since the stock price of Watches of Switzerland has dropped like a rock maybe Richemont or on of the other Big watch conglomerates will pick it up for a song? But i understand that W of Sw is more of a showroom style than standard retail? I don't know if it would really make sense as a purchase.
Excellent presentation and your points make a lot of sense to me and I'm happy that Bucherer falls in the hands of ROLEX which further solidifies its market position and by this the Swiss watch making industry as a whole in the long run. An acquisition by LVMH or similar could have threaten the power of the crown in relation to the distributors and retailers and as you point out ROLEX is extremely careful when they move and I think that they will only make very subtle changes the most important ones will probably be the reduction of local competitors where they are present with Bucherer.
Thanks - I try to do different stuff that interests me and really glad that others, including yourself, find my perspectives a worthwhile watch as well Cheers 😀💪
Really well done! Your videos are well thought out and insightful. I don’t expect Rolex will make many changes in the short term. It’s in their best interest to keep Bucherer successful.
Mostly agree. Not sure about ‘scared’ - probably a little concerned at the stories of rude salespeople and some watch people shunning the brand. And the cynicism that most Rolexes are being sold out the back door which makes the brand look bad. I also think if successful they could buy more stores. Not looking to completely take over the sales, but just getting a little bigger %
Scared. Concerned. Cautious. To me the sentiment is essentially the same - and yes: As a youtuber, I do what I can to make a catchy title - but there’s no bait and switch. I make my argument in line with the premise of the title 😀 Thanks for taking the time to share your thoughts 😀
Awesome video and analysis. Yes they got scared. My personal opinion is that they are just trying to survive. Thank you for this documented piece of content.
Just as McDonalds has franchisees and company owned stores Rolex use both distribution models to understand what’s happening in the market. Having some of their own stores will help rollout of certified pre owned watch program by guaranteeing acceptance of numerous stores which it owns. Rolex will also be able to move inventory to its own stores and away from misbehaving dealers that sell above retail on the internet. More inventory will go to stores that sell at retail. Finally owing its own stores will let it experiment with selling direct to end consumer like Ferrari or Patek. If I were a dealer selling watches above retail on the internet I would be worried.
IT does give them a way to experiment with running own stores without the risks associated with starting from scratch - I've heard (and experienced) that not all AP boutiques are a great experience. Retail is very different from watch production Thanks for sharing your thoughts. 😀
Good video, sound thinking about the acquisition. Another angle not mentioned, Swiss protectionism, keeping a small but prominent Swiss business in Swiss hands.
I don't think Rolex is scared. I think they will bring the Rolex brand into all Bucherer outlets and Eliminate Rolex competition near their Bucherer stores,to make all the Profit.
Rolex don't have to play defensive strategy. That's a gross under estimation of the most powerful luxury watch brand. They are exerting more presence and control in the market. It's domination and growth not defensive. They may be conservative but I suspect they're being proactive rather than reactive. If they continue what they are doing currently even though profitable, they eventually run the risk of being an uninteresting less desirable brand. They know their reputation with the AD network has been declining and lots of profit is seeping through to the grey market. The combined CPO program, opening a new factory and now takeover of Bucherer will give them a level of control never seen on the current scale. Don't underestimate the CPO program. It's going to be crucial in the next 2 to 5 years when customers are insisted to buy a pre owned piece before they're allowed to qualify for a brand new piece. That's why they are intentionally higher priced than the grey market for a reason, to stop flipping to grey dealers. All they have to do to shut down the grey market is to officially announce they will not service watches not purchased through their own network. This will eventually happen and people will veer away from buying uncertified, unauthorised, frankenstein watches from the grey market. The strategy will be to kill the competition and cut out the middle man. Mark those words!
Oysterman: I tend to agree on the point about a future servicing model. They’ll never get around statuatory mandated warranty periods (ie in the eu) but a model where stuff bought out of network gets no support after the mandated periods is definitely something I could see happening. 😀👍
@@Mike.thiswatchthatwatchThat fits in well with a strategy they may execute. The CPO watches carry a 5 year warranty. If Rolex made it compulsory to buy CPO pieces prior to offering new pieces, they could easily use the warranty expiration as a way to influence the customer to trade it in and then sell them another watch, new or used. The customer will feel obliged to maintain their relationship with the same mindset they have now with ADs. I see potential to manipulate the market very easily.
But now we have another 100 stores where the general public (someone who has saved all their lives for a nice watch) cannot buy a Rolex. It’s an absolute disgrace that “flippers” are prioritised over new customers who want to buy a an heirloom watch
Very informative and appreciate the analysis that most of us never contemplate. Once upon a time it was just about buying a nice watch and it's been a long time since we've seen submariners, GMTs, and even Explorer IIs out on display. The only watches that weren't out if fact were Explorers, green bezel Subs, and Daytonas.
rolex gets 200 prime locations.. they can easily open up the other 150 locations as rolex and or tudor stores and they are verticaly intigrated. they also aquire the retailers modus operandi of day to day operations. And yes the Bucherer locations will get more inventory in allocations..
You're probably right about the last piece. My guess is there are going to be a lot of daytonas and GMTs at the bucherer stores while other dealers will have the more "basic" models 😀😀😀
Fantastic analysis as always. The only part that I couldn't relate to was the buying experience. Knowlable staff and glass of champagne? More like snooty aloof staff explaining I'm not ready for a GMT yet, and I should buy a watch I don't want.
Good point - I think Rolex would ideally like the experience to be a specific way and the AD's are not delivering that. It reminds me of the movie about mcdonalds where they realised that the way the ensured the quality of each franchise was by owning the land on which the franchise was built. 😀😀
How did Rolex survive the last 100 years before this madness started ? You’re right about one thing though.. Rolex post 2019 will never be like Rolex pre 2019 again.
Good assessment of the Rolex situation. My state only has 1 Rolex AD, which is a single store family Jeweler. If Rolex cuts them my closest AD is 3 hours away :(
Rolex bought Bucherer to prevent Private equity to buy them. That means Private equity will put Rolex to follow their business then drop the brand if they don’t follow what they want. That means less show case for the brand
Dont understand how a private equity would buy the dealer chains. Rolex can just stop sending rolex watches, the fund have no power. And why pay so much for Bucherer, without Rolex their profit would be less, again Rolex has all the power.
While watches of switzerland was owned by private equity from 2013 to 2019, they bought Mayors - a chain of 17 stores in the US plus some other minor purchases. So it’s not unheard of. In europe there are still a couple af AD’s that are 5+ stores. Most are “mom and pop” type businesses though. Private equity let go of their own stake in WoS in 2019. Things have also gotten way more expensive since, so like I said in the video, it’s not a super likely or super attractive model for PE in the current landscape - but there is historical precedent for them getting involved Thanks for taking the time to share your thoughts 👍
Your analysis could be a point but I don’t think it’s the case. People goes to Walmart or IKEA not for any specific grocery/furniture brands. IKEA, itself represents as the brand name of its furniture. And for Walmart, how many people care about the brand of groceries in the store? They go to Walmart because it’s cheap. The watch industry is dominated by Rolex. People choose a dealer not because of the dealer itself, but because they sell Rolex. I personally don’t believe the watch dealer industry can be monopolized by any private equity as the watch industry is already monopolized by only several groups. Dealer doesn’t have much power to bargain with them, especially giant brands like Rolex.
this marks the end of the independent AD's, why would Rolex share the profit with the middle man if you can sell directly to the customer and keep all the profits for yourself? AP showed Rolex that you can sell trough factory boutiques only or online.
Good video except the comment referring Rolex values customer service, they don’t give a crap about us customers, I have a couple which were purchased at the AD, they clearly have the worse customer service of all luxury brands I have experienced
Fair point - I think they do care in some ways, but they are having trouble ensuring that the level gets lived up to. Lack of availability and dodgy dealer practices is definitely something that is hurting them. And being the biggest dog does potentially lead to a level of arrogance towards customers....¨ Thanks for sharing 😃😃😃
Interesting points. As a watch enthusiast I’d like to see lower prices and better AD’s. I hope this leads to that, or is a good step in that direction. But it’s hard to say. Really I just want that second factory to open so that maybe I can actually get that GMT I’ve always wanted.
I don’t think Rolex are scared. Bucherer have 100 stores but Rolex sells through 2000 stores worldwide. So that’s 0.5% of their distribution. Buying Bucherer is a blip. I think this was an opportunistic purchase since Bucherer was for sale and Rolex has a massive cash pile. It was a sensible but not a significant acquisition.
Very interesting take on this. They can own/influence as many outlets as they like , but they still only produce around one million watches per year ? they will continue then at a similar volume as in the past ? not considering the additional pre-owned traffic which may just suit a now 'inhouse' Bucherer where it may not have worked well across the AD businesses. This is not a game changer strategic move, more consolidation and creep strategy. You are probably not far off with your observation.
From Robb Report, Rolex is building four new factories “Construction on the facilities in the canton of Fribourg will begin later this year, with timepieces rolling out as soon as 2025. Rolex is also planning to launch a new $1.1 billion factory nearby in Bulle that is expected to commence production in 2029.”
Thanks for sharing your perspective. Generally I don’t believe in the more “checkmate” kinds of conclusions that these topics illicit. To me, the simpler, more modest logic is where my mind tends to gravitate towards. Creep strategy (well put btw) is very much in keeping with the way Rolex does things. Slow. Methodical. Never drastic. Cheers 😀😀😀
great informative vid what happens if omega,pp,ap,vc,tag,cartier etc all pull out of these stores rolex would have no watches to sell just display crap only they would be very expensive units with no watches to sell
The Rolex AD are literally museums, they literally has nothing to sell for years. Maybe i am not the privileged. Doubt this will change with Bucherer in place, perhaps
So this is a smart look at this but I think you’re missing a fear which could start Rolex favoring vertical model. I think they knew they would lose the fight in France over online shopping. If the European Union runs with this they would be giving up control how their product is sold. You noted their experience isn’t in selling watches but building watches. Buying a sizable AD could be the perfect opportunity to learn how to do it and prepare to shift away from AD model if they have to play by someone else’s rules. Here in the US no that important because they are already consolidating AD’s. Europe where government is permitted to be too involved with other’s day to day is a certain fear that might be bigger than corporate AD take overs.
So your big thesis is that Rolex saw the opposition making big money selling online and bypassing the high overhead brick and mortar dealers, and therefore decided to...... stuff all their cash into high overhead brick and mortar dealers? What sort of a narrative is that? And if some private equity firm bought Bucherer and made their life difficult, they could care less. There's a zillion very nice outlets more than willing to stock Rolex on whatever terms they dictate, not to mention Rolex could easily set up their own competing outlets, Apple store style, should the need arise. I think the better theory, is Rolex is thinking of doing an Apple and setting up their own stores, but saved themselves some time and energy by buying an existing one.
Tudor isn't even significant in global market share. Logines has more than triple the market share of Tudor. Tudor has less than 2% market share globally. Only TH-camrs are making a big fuss about it.
Rolex does not have a buying experience that’s why the grey market is so strong. Why can you not just buy what you want, it’s available on the grey market.
If rolex was really scared or even worrying about customer, the first thing to do would be to communicate about it and tell to watch enthusiast that they understood the issue and frustration and that buying bucherer is part of a bigger plan to restore confidence....in fact this is another Bellshill plan to continue to sell their overpriced stuff keeping the resource artificially scarce...business as usual...
I understand your reasoning, but I don't agree. You're talking about a shift of power. But the customer doesn't care who is the AD. The product is wanted. So Rolex has all the power. They can take away dealership at any time and give it to other ADs. That is what some other brands do anyway. Other premium brands take away dealership rights and only have one shop. Reducing the number of dealers. Rolex doesn't need Bucherer as much as Bucherer needs Rolex....
As there is no available stocks, all assumptions are not valid. Who cares when all stocks are from grey market at least x2 of the MSRP. Maybe they are preparing for new factory output down the road.
I doubt I will ever be able to get a James Bond Sub unless I win the lottery or buy one that was stolen(so I'll never own a Rolex, basically), but through gray market I was able to get the John Wick watch, which introduced me to the brand, and I have to say, despite being a hardline Omega guy, the Bucherer design language and quality rally sold me on the brand. As for what Rolex will do with them, I hope they leave them alone and let CFB do their thing, as it's a luxury brand to be sure, but it's not a powerhouse brand like Rolex or Omega. I enjoy the idea that I'm wearing a heirloom timepiece that despite the meteoric popularity of John Wick, isn't onthe tip of everyone's tongue like Longines, Breitling or Patek. Rolex is to me a bastardhole of a company that vastly overpriced their product(but it is not of diminished quality) and the secondary market has completely removed the middle class customer like me out of the realm of ownership. And I'm sure they do not care one iota. If I could afford to go out and buy a Daytona while wearing a Richard Mille, I wouldn't care either, I guess.
Sorry, I do not want to sound dismissive, but every argument used for your conclusion is speculative. So, I am not really convinced. Rolex is already vertically integrated, perhaps (so speculation also from me) this is the last link. What is the ultimate goal? Only Rolex knows.
this makes sense! all private equity firms and investors scratching their heads why they did not think about this lols the Rolex Experience is manipulated, ridiculed and shamed hahhaahah
![ILLSLICK - KILLSHOT REMIX [FULL VERSION]](http://i.ytimg.com/vi/RIK8RrqIAzE/mqdefault.jpg)
Scared of their shady AD network ruining their reputation by selling direct to the secondary market creating false scarcity maybe... and that would be a legit fear.
They definitely have a problem with customer experience in practice. I’ve heard some horror stories, especially since things started to get really unavailable.
Cheers 😀
There's rumors this is happening at one of my AD's locations here in Canada. That the store is in collusion with grey market flippers, and no watches are going to customers.
@@kentwong3818 There's rumors Obama was the 20th hijacker. Show some evidence of the claims.
I don't think I'm right when I say this - but it's what I 'want' the purchase of Bucherer to mean. :) Rolex has incredible brand equity, but that equity has been damaged over the years. No one doubts that the watches are very special... but the experience of buying one is not. Wait lists aren't necessarily deal breakers (within reason), but Rolex has become damned by association. Association with ADs telling you to buy jewelry or additional models you don't want. Association with the grey market where everything is priced crazily because the ADs are playing idiotic games.
My hope is that Rolex buying Bucherer is the first step in bringing ADs back in line, the first step in making the 'buying experience' as special as the watches themselves. I was in an airport recently and two guys sitting near me were talking watches. One said he'd recently bought a Sub. The other guy laughed and the first words out of his mouth were, "How much over did you have to pay?"
I think Rolex has no problem with scarcity and exclusivity, particularly around certain models. But there's now an ugly association with the brand. An almost universal feeling that if you did get your hands on a Rolex, you got taken for a ride.
Could be a good hope. I think Rolex are aware that they have some really bad ad behaviour out there and they’re trying to figure out how to fix it.
Thanks for sharing 😀
I would disagree......Rolex isn't scared. They're in control(operative word) and they know what they're doing. That being the case, the AD's are nothing more than greedy middlemen. They're not in charge.....Rolex is.
They have lost their superlative buying experience and cachet. Now they are the brand preferred by posers and Dbags. Wearing one sends the wrong signal in some circles. A shame, I used to appreciate their tool watches, but would not wear one today. I hope that the brand gets back to their core, but it appears that dollars (Pounds, Euros, Yen etc) will win out over long term sense.
"No thanks. We don't need you as a customer. We will not sell you a watch." This is the Rolex experience. lol
😂 a new wait list experience
Not untrue 😂😂😂
@@MBimmer...you need to get waitlisted at any AD before you can register for a waitlist at Bucherer....😂😂
That is very much the bitter truth with the Rolex experience. They want to control what you are allowed to buy. It is the prestigious brand for criminals and money grabbers. ( This has not always been the case.)
@@wallpaper000😂😂
Great analysis as always. Buying Bucherer could also allow Rolex to make money when customers buy their competitor's watches. The unavailability of Rolex has certainly created hype around the brand. However, it has also created another common scenario: When a customer walks into a multi brand AD (like Bucherer) and wants a Rolex but eventually walks out wearing something else, that's lost revenue for Rolex. Personally, I'm very turned off by the AD experience of waitlists, point system and bootlicking. I bought my Rolexes before the hype and would have bought some newer models but the brand has lost a lot of their charm for me.
AD's really can be hit or miss. Some are excellent, but I've had my fair share of arrogant "why are you even the store" behaviour to be ad bit jaded as well
cheers 😀😀
Agreed. It's as if they need to decide if you are lucky enough to hand over indecent sums of money to them 😂.
I think you are almost right Rolex aren’t scared but it’s a defensive move as they didn’t want anyone else buying Bucherer.
Yup. To me scared, concerned, defensive are all circling around the same sentiment.
Defensive is a good way to put it to. 😀😀
Who would buy??
Good video. I agree with your analysis. TH-camrs are collectively saying it’s the end for ADs as Rolex wants to get into retailing. But Rolex already has a system that works well for it. Rolex doesn’t want to control 1,000-plus ADs around the world. It’s too costly. Rolex already has a network of ADs that it sells to. The reason Rolex purchased Bucherer is exactly as you said, they don’t want Bucherer to fall into the hands of another large conglomerate that could ultimately have leverage on Rolex. Rolex even said this in the press release, but TH-camrs just want to create drama for clicks and views.
Thanks - glad you feel my perspective resonates to some extent.
A boutique only model just doesn’t seem feasible to me when you’re selling a million watches a year. Currently AP sells 45.000 watches and about 150 boutiques. That’s 300 watches per year per store. Rolex has 2000 dealers, averaging 500 watches per store. Reduce that to 1000 and that’s still 1000 per store. That’s not a cosy little boutique. That’s a supermarket and starts not being exclusive…
The numbers just don’t add up to boutique only to me.
Thanks for sharing your thoughts too 😀😀😀
@@Mike.thiswatchthatwatch good analysis. The numbers already tell you a lot but some people are just dumb and rather listen to hearsay than do some simple thinking for themselves. It’s frustrating watching these thick TH-camrs.
This is one of the better "Rolex just bought Bucherer" videos I've seen. Really like the angle that you take with thinking this out.
Thanks - appreciated 😀
The large Bucherer stores can't make enough money just selling Rolex watches . . . customer experience becomes too narrow, not enough Rolex watches available from the production line. An interesting dynamic might be . . . what happens if other major brands stop using Bucherer? Rolex is mainly considered a luxury brand because of marketing and volume - selling millions of watches a year. It has become a luxury Swatch. A far bigger fear at Rolex must be what happens when people realise Rolex is NOT a luxury brand.
I came to the realization a long time ago that being placed on the fake waiting list which is really just the "preferred buyer" list in the hope that an AD might call me in three or four years is beyond stupid. As if $9,800 for a stainless steel watch wasn't ridiculously stupid as it is.
Happy to go to JLC, GO, Omega, GS, etc. This only stops when we as consumers put a stop to it.
I have a list of AD'S I will never use again for any reason. Sticking to it.
Mike, keep up your work! Really good and well arranged content. Gonna age like fine wine
Wow! Thanks 😀😀😀
So basically we have more shops where you can not buy a Rolex watch from
Not untrue 😂😂😂
Exactly 😂.
You are about the only watch commenter that understands business. Bravo!
Don't know if that's true, but thanks nevertheless 😊😊😊😊
Rolex has become the badge of 'gaudiness' similar to a chrome suit or a gold wrapped Lamborghini with a gold chained gang banger rapper at the wheel ! Their image has greatly deteriorated over the decades especially in the last.
Potentially they run that risk for sure 😃
Really enjoyed that. Pleasant change to the chat about the secondary market all over TH-cam!
Glad you enjoyed it. I don’t profess to know “the truth”. I like to think though that the less dramatic scenarios are more realistic in general. The sky is very seldom falling quite as fast as the internet would have us believe…
Cheers 😀😀😀
It just seems to be a sensible move since Rolex owns half of Geneva and has more money 💰 in their vault than Scrooge McDuck.
“More money than scrooge mcduck” 😂😂😂
If that's just how much money Geneva has then it's kaput....😂
@@Mike.thiswatchthatwatch
Putting numbers into perspective. Rolex generated a profit of $8b Swiss Francs in the last financial year. In my country Australia, our largest bank reported A$10b. Equivalent to $5.6b Swiss Francs.
Rolex profit only accounts for new watches sold at retail. No additional interest income or fees, revolving credit facilities or commercial credit that a bank has access to in their portfolio. Yet Rolex makes more money from a single item purchase with no recurring income? That's incredible!! Imagine the potential for the cpo program once it's fully integrated. The cpo program is not a mistake that many people have suggested. It's engineered to generate a new income stream from the grey market. Rolex are building new factories to support this. In 2 to 3 years time I think you will see profit margins triple.
If I were running a Swiss bank I would partner up with Rolex to manufacture Rolex credit cards. Make them out of ceramic. Ladies versions with diamond encrusted, mother of pearl inlay, gold, platinum. I think you'd generate enough sales on those alone more than the potential of credit interest from using the credit facility on the card!
Rolex are so big they could open their own bank to do it if they wanted to.
Rolex even owns, the building that holds Patek Philippe’s old Bond Street store in London!
With the introduction of CPO program Rolex clearly highlights there priority, the business of new watches is already in their hands so that step is a first into sharing pre-owned profits.
Perhaps. They defintitely get more direct control 😎
Well I have been invited by a Bucherer store to come and discuss my Rolex watch requirement. They replied to my email with a telephone call and said that I could my desired watch and they would get it for me albeit with a small delay. I am going in two weeks time and look forward to their response and how they treat me.
Fingers crossed 😀
Very in depth analysis. You made it so that my brain could wrap itself around the Rolex/Bucherer merger. Very thoughtful and concise. Really appreciate the solid breakdown of this issue for those of us not in the Rolex watch ecosystem.
Great to hear! Thanks 😀😀
Definitely scared 🎉🎉🎉 their biggest fear is ,the world will wake up from the dream and realize that although good, they aren’t a good as the price would suggest . They are ridiculously over valued and it’s time the bubble popped 💨🌬️
You’re not going to see me pay 30k for a steel daytona 😂
I've seen a few videos about this, but you were the first that pointed out this strategy that makes sense to me as to why they did it.
Thanks - glad you felt my perspective resonated 😀😀
Excellent move by Rolex. Private equity would have no interest in a bunch of boutique shops. It doesn't fit their typical strategy.
Not to mention not having reasonable control. Let’s say PE bought Bucherer - Rolex could cut their allotments, divert it to other top stores with 100% confidence they’d all sell.
Not so sure. Watches of switzerland was owned by private equity from 2013 to 2019. In that period they made multiple buy ups, including mayors in the us.
As I say in the vid, and I agree with you now, it’s probably become too expensive to do now compared to 2013, but it’s not without precedent that PE has taken an interest in this market
Cheers 😀
Out of all the postulations I've heard, yours makes the most sense.
Thanks - glad you felt my perspective responated 😀😀😀
Mike, hit the nail on the head in my mind, Rolex were worried about who would buy Bucherer, just imagine the Swatch group buying them! 🤣
Exactly. It’s the potential and not the 100 stores in itself that are the unknown that Rolex does not like 😀
I appreciate an out of the box take but in this case, IMHO, Rolex is not scared, it’s just a strategic decision.
Fair enough - I don't profess to know the truth - just speculation and time will tell eventually
Cheers 😀😀
This is the most sensible take I have seen so far. Preserving the status quo and doing a favour to a very old friend.
Thanks for rhe feedback - generally I always lean towards the less conspiratorial explanations of things. I find it usually (but not always) turns out to be the case. 😀
The stock drop of Watches of Switzerland seems to indicate the market disagrees strongly with this thesis. It’s not defense it’s offense. Prices are going to go up, especially in their certified pre-owned market.
Maybe. Time will tell, I suppose. The debate though is an interesting one 😀
Putting too much significance in this acquisition. Watches of Switzerland (WOS) might have been able to gobble up Bucherer but even if they had, it would not change the dynamic of their relationship with Rolex. WOS has been eating up Rolex ADs because they know how to use Rolex to pluck money out of consumers (Bucherer was playing the same game when the ate Tourneau). Rolex bought Bucherer because they’ve been doing business with them for close to 100 years.
100 years of doing business means nothing
As I said in the video “Rolex is doing Bucherer a solid” 😀
Agreed. I thought this move was about protecting Bucherer, not the doomsaying baloney.
Hyperbole and outrage has become so de facto with online communication that actual knowledge, calmness and appreciation for the subtlety and details are getting drowned out. Keep doing what you’re doing.
Its just Rolex having more control ovber their sales and making more money ...th grey market will for sure take a big hit but it will never be gone. Just drown out alot of the dealers out there that are not good
Not necessarily to disagree, though the Asia market is huge, eclipsing Americas or Europe, but not combined. While in Japan I never encountered one of the four Bucherer stores but I saw a whole lot of other places to get watches. Just visiting Nakano Broadway was to see enough Rolex to wear out my brain and eyeballs… I just don’t believe that market share of retail necessarily means market power. People choose Rolex because they want to, just like people choose Walmart. But they don’t need them. As long as humans are adaptable there are other ways.
By the way I have thoughts on why the supply-demand of Rolex turns into watch sales and flipping of other brands. Other brands succeed by their association and proximity to Rolex. Rolex isn’t an island. They succeed when Swiss watchmaking as a concept succeeds.
Thanks. Will try. Just trying to share my perspectives. I may be wrong and try not to pretend to have all the answers, but rather share a perspective.
It does feel good when the perspective resonates with people though 😀😀😀
Cheers 👍
Great Video! I wonder how other brands will respond to this move? A watch brand, other than Rolex, realizes that every time Bucherer sells one of their watches, some of the money goes back to Rolex. That woul leave a bad taste in my mouth.
Have no clue 😂
First off they’re calling the swiss competition authorities and asking for garuantees that Rolex won’t engage in unethical practices…. 😀
It’s gotta be tough knowing there are 100 stores in high value markets where your competitor has detailed insights into what sells off your shelf…. 😀
@@Mike.thiswatchthatwatch Since the stock price of Watches of Switzerland has dropped like a rock maybe Richemont or on of the other Big watch conglomerates will pick it up for a song? But i understand that W of Sw is more of a showroom style than standard retail? I don't know if it would really make sense as a purchase.
The private equity points are insightful and not something I've seen others discussing. 👍
Thanks - It’s a perspective that I thought would be fun to talk about 😀
Excellent presentation and your points make a lot of sense to me and I'm happy that Bucherer falls in the hands of ROLEX which further solidifies its market position and by this the Swiss watch making industry as a whole in the long run. An acquisition by LVMH or similar could have threaten the power of the crown in relation to the distributors and retailers and as you point out ROLEX is extremely careful when they move and I think that they will only make very subtle changes the most important ones will probably be the reduction of local competitors where they are present with Bucherer.
Thanks . Glad you felt it resonated 😀
Thanks for another interesting and informative video. I really enjoy the diversity in your subject choices. Keep up the great work 👍
Thanks - I try to do different stuff that interests me and really glad that others, including yourself, find my perspectives a worthwhile watch as well
Cheers 😀💪
Couldn’t they just open up more of their own boutiques in? If they were actually scared
Over time, they might, but building a retail network takes time. A lot of time 😀
Really well done! Your videos are well thought out and insightful. I don’t expect Rolex will make many changes in the short term. It’s in their best interest to keep Bucherer successful.
Much appreciated!
And yeah - we’re on the same page for sure about this 😀
Mostly agree. Not sure about ‘scared’ - probably a little concerned at the stories of rude salespeople and some watch people shunning the brand. And the cynicism that most Rolexes are being sold out the back door which makes the brand look bad.
I also think if successful they could buy more stores. Not looking to completely take over the sales, but just getting a little bigger %
Click bait title
Scared. Concerned. Cautious. To me the sentiment is essentially the same -
and yes: As a youtuber, I do what I can to make a catchy title - but there’s no bait and switch. I make my argument in line with the premise of the title 😀
Thanks for taking the time to share your thoughts 😀
Awesome video and analysis. Yes they got scared. My personal opinion is that they are just trying to survive. Thank you for this documented piece of content.
Very welcome 😀😀😀
Just as McDonalds has franchisees and company owned stores Rolex use both distribution models to understand what’s happening in the market. Having some of their own stores will help rollout of certified pre owned watch program by guaranteeing acceptance of numerous stores which it owns. Rolex will also be able to move inventory to its own stores and away from misbehaving dealers that sell above retail on the internet. More inventory will go to stores that sell at retail. Finally owing its own stores will let it experiment with selling direct to end consumer like Ferrari or Patek. If I were a dealer selling watches above retail on the internet I would be worried.
IT does give them a way to experiment with running own stores without the risks associated with starting from scratch - I've heard (and experienced) that not all AP boutiques are a great experience. Retail is very different from watch production
Thanks for sharing your thoughts. 😀
Good video, sound thinking about the acquisition. Another angle not mentioned, Swiss protectionism, keeping a small but prominent Swiss business in Swiss hands.
Good point, the swiss do tend to stick together 😀
I don't think Rolex is scared. I think they will bring the Rolex brand into all Bucherer outlets and Eliminate Rolex competition near their Bucherer stores,to make all the Profit.
Rolex don't have to play defensive strategy. That's a gross under estimation of the most powerful luxury watch brand. They are exerting more presence and control in the market. It's domination and growth not defensive. They may be conservative but I suspect they're being proactive rather than reactive. If they continue what they are doing currently even though profitable, they eventually run the risk of being an uninteresting less desirable brand. They know their reputation with the AD network has been declining and lots of profit is seeping through to the grey market. The combined CPO program, opening a new factory and now takeover of Bucherer will give them a level of control never seen on the current scale. Don't underestimate the CPO program. It's going to be crucial in the next 2 to 5 years when customers are insisted to buy a pre owned piece before they're allowed to qualify for a brand new piece. That's why they are intentionally higher priced than the grey market for a reason, to stop flipping to grey dealers. All they have to do to shut down the grey market is to officially announce they will not service watches not purchased through their own network. This will eventually happen and people will veer away from buying uncertified, unauthorised, frankenstein watches from the grey market. The strategy will be to kill the competition and cut out the middle man. Mark those words!
Oysterman: I tend to agree on the point about a future servicing model. They’ll never get around statuatory mandated warranty periods (ie in the eu) but a model where stuff bought out of network gets no support after the mandated periods is definitely something I could see happening.
😀👍
@@Mike.thiswatchthatwatchThat fits in well with a strategy they may execute. The CPO watches carry a 5 year warranty. If Rolex made it compulsory to buy CPO pieces prior to offering new pieces, they could easily use the warranty expiration as a way to influence the customer to trade it in and then sell them another watch, new or used. The customer will feel obliged to maintain their relationship with the same mindset they have now with ADs. I see potential to manipulate the market very easily.
Probably had to do something with their cash flow I guess. Can’t imagine how big it is now. Ps.. your luxotica comment is so true!
Luxotica… they get me so riled up 😀
But now we have another 100 stores where the general public (someone who has saved all their lives for a nice watch) cannot buy a Rolex. It’s an absolute disgrace that “flippers” are prioritised over new customers who want to buy a an heirloom watch
Very informative and appreciate the analysis that most of us never contemplate. Once upon a time it was just about buying a nice watch and it's been a long time since we've seen submariners, GMTs, and even Explorer IIs out on display. The only watches that weren't out if fact were Explorers, green bezel Subs, and Daytonas.
Exactly. I remember at time when I was offered a daytona woth no purchase history. Gone are the days 🥲
Thanks for sharing 😀😀
rolex gets 200 prime locations.. they can easily open up the other 150 locations as rolex and or tudor stores and they are verticaly intigrated. they also aquire the retailers modus operandi of day to day operations.
And yes the Bucherer locations will get more inventory in allocations..
You're probably right about the last piece. My guess is there are going to be a lot of daytonas and GMTs at the bucherer stores while other dealers will have the more "basic" models 😀😀😀
Fantastic analysis as always. The only part that I couldn't relate to was the buying experience. Knowlable staff and glass of champagne? More like snooty aloof staff explaining I'm not ready for a GMT yet, and I should buy a watch I don't want.
Good point - I think Rolex would ideally like the experience to be a specific way and the AD's are not delivering that.
It reminds me of the movie about mcdonalds where they realised that the way the ensured the quality of each franchise was by owning the land on which the franchise was built. 😀😀
Couldn't care less about Rolex.
Likely a very healthy perspective 😀
omg I never thought about this perspective! thank you for sharing!
Glad you found it a worthwhile watch 😀😀
All the rolex owners only care if their collections have risen in value lol
Rolex lives from artificial scarcity. That's their marketing schtick. Don't expect any different.
How did Rolex survive the last 100 years before this madness started ? You’re right about one thing though.. Rolex post 2019 will never be like Rolex pre 2019 again.
Desirability / scarcity. It’s gone a bit to far in recent years. Don’t really see it changing significantly though 😳😀😀
You probably nailed it. Solid reasoning...
Disagree...Mike's analysis is spot on with my own independent analysis.
Thanks. Glad you felt it resonated 😀
Good assessment of the Rolex situation. My state only has 1 Rolex AD, which is a single store family Jeweler. If Rolex cuts them my closest AD is 3 hours away :(
That’s the thing - some places will ve very far from A boutique…. 😳
Really good video, well thought out analysis delivered efficiently
Glad you liked it! 😀
This has happened for years in all products, rule of thumb is is old adage dont put all your eggs in one basket
Not a bad adage - Wonder if AP is listening ? 😎
You have some of the best watch content on TH-cam!
Thanks! Wow - really appreciate that 😀
Rolex bought Bucherer to prevent Private equity to buy them. That means Private equity will put Rolex to follow their business then drop the brand if they don’t follow what they want. That means less show case for the brand
Yup 😀
You do an unbeleivable job to say the least. The way you explain ithings genius!!
Thanks!!! Really appreciate the praise😀😀
Dont understand how a private equity would buy the dealer chains. Rolex can just stop sending rolex watches, the fund have no power. And why pay so much for Bucherer, without Rolex their profit would be less, again Rolex has all the power.
You beat me to it. That was implausible. Rolex would never let some greedy MBAs get a cut. They sell STRAIGHT to the biggest greys before that.
While watches of switzerland was owned by private equity from 2013 to 2019, they bought Mayors - a chain of 17 stores in the US plus some other minor purchases.
So it’s not unheard of. In europe there are still a couple af AD’s that are 5+ stores. Most are “mom and pop” type businesses though.
Private equity let go of their own stake in WoS in 2019.
Things have also gotten way more expensive since, so like I said in the video, it’s not a super likely or super attractive model for PE in the current landscape - but there is historical precedent for them getting involved
Thanks for taking the time to share your thoughts 👍
Interesting information and I've learnt quite a bit, but I have not the remotest interest in overpriced goods.
Fair enough - Glad you enjoyed it 😀
lol...this has been pure comedy. Masterful sense of humour!
Much like your profile name / tag 😂😂
Your analysis could be a point but I don’t think it’s the case. People goes to Walmart or IKEA not for any specific grocery/furniture brands. IKEA, itself represents as the brand name of its furniture. And for Walmart, how many people care about the brand of groceries in the store? They go to Walmart because it’s cheap. The watch industry is dominated by Rolex. People choose a dealer not because of the dealer itself, but because they sell Rolex. I personally don’t believe the watch dealer industry can be monopolized by any private equity as the watch industry is already monopolized by only several groups. Dealer doesn’t have much power to bargain with them, especially giant brands like Rolex.
Excellent video, I agree with your line of thinking.
Glad you think so! 😀
this marks the end of the independent AD's, why would Rolex share the profit with the middle man if you can sell directly to the customer and keep all the profits for yourself? AP showed Rolex that you can sell trough factory boutiques only or online.
Good video except the comment referring Rolex values customer service, they don’t give a crap about us customers, I have a couple which were purchased at the AD, they clearly have the worse customer service of all luxury brands I have experienced
Fair point - I think they do care in some ways, but they are having trouble ensuring that the level gets lived up to. Lack of availability and dodgy dealer practices is definitely something that is hurting them. And being the biggest dog does potentially lead to a level of arrogance towards customers....¨
Thanks for sharing
😃😃😃
Customer is king.
That’s the way it should be at least 😀😀
Is Bucherer watch now more Rolex than was before than ?
Enjoyed your intelligent analysis. Cheers
Much appreciated!
And cheers to you to 😀
Interesting points. As a watch enthusiast I’d like to see lower prices and better AD’s. I hope this leads to that, or is a good step in that direction. But it’s hard to say. Really I just want that second factory to open so that maybe I can actually get that GMT I’ve always wanted.
Better AD's - Or more consistent AD experiences. Agree 😀
I don’t think Rolex are scared. Bucherer have 100 stores but Rolex sells through 2000 stores worldwide. So that’s 0.5% of their distribution. Buying Bucherer is a blip. I think this was an opportunistic purchase since Bucherer was for sale and Rolex has a massive cash pile. It was a sensible but not a significant acquisition.
Very interesting take on this. They can own/influence as many outlets as they like , but they still only produce around one million watches per year ? they will continue then at a similar volume as in the past ? not considering the additional pre-owned traffic which may just suit a now 'inhouse' Bucherer where it may not have worked well across the AD businesses. This is not a game changer strategic move, more consolidation and creep strategy. You are probably not far off with your observation.
From Robb Report, Rolex is building four new factories “Construction on the facilities in the canton of Fribourg will begin later this year, with timepieces rolling out as soon as 2025. Rolex is also planning to launch a new $1.1 billion factory nearby in Bulle that is expected to commence production in 2029.”
Thanks for sharing your perspective.
Generally I don’t believe in the more “checkmate” kinds of conclusions that these topics illicit. To me, the simpler, more modest logic is where my mind tends to gravitate towards.
Creep strategy (well put btw) is very much in keeping with the way Rolex does things. Slow. Methodical. Never drastic.
Cheers
😀😀😀
great informative vid
what happens if omega,pp,ap,vc,tag,cartier etc all pull out of these stores
rolex would have no watches to sell just display crap only
they would be very expensive units with no watches to sell
Thanks 😀
are you the Timeworn guy too?
Great explained as always.Excellent brand.thanks for sharing us.
Glad you liked it 😀😀
An unkown Carl F. Bucherer off-brand is B-Swiss
Great explanation, thank you.
Thanks 😀
The Rolex AD are literally museums, they literally has nothing to sell for years. Maybe i am not the privileged. Doubt this will change with Bucherer in place, perhaps
Likely not...😃
Rolex bought Bucherer! That’s a checkmate move.
Maybe. I’m not convinced but ultimately time will tell.
Thanks for taking the time to contribute either way 😀😀😀
So this is a smart look at this but I think you’re missing a fear which could start Rolex favoring vertical model. I think they knew they would lose the fight in France over online shopping. If the European Union runs with this they would be giving up control how their product is sold. You noted their experience isn’t in selling watches but building watches. Buying a sizable AD could be the perfect opportunity to learn how to do it and prepare to shift away from AD model if they have to play by someone else’s rules. Here in the US no that important because they are already consolidating AD’s. Europe where government is permitted to be too involved with other’s day to day is a certain fear that might be bigger than corporate AD take overs.
So your big thesis is that Rolex saw the opposition making big money selling online and bypassing the high overhead brick and mortar dealers, and therefore decided to...... stuff all their cash into high overhead brick and mortar dealers? What sort of a narrative is that? And if some private equity firm bought Bucherer and made their life difficult, they could care less. There's a zillion very nice outlets more than willing to stock Rolex on whatever terms they dictate, not to mention Rolex could easily set up their own competing outlets, Apple store style, should the need arise. I think the better theory, is Rolex is thinking of doing an Apple and setting up their own stores, but saved themselves some time and energy by buying an existing one.
You clearly understood nothing of his narrative.
I wonder how this will effect Tudor.
Tudor isn't even significant in global market share. Logines has more than triple the market share of Tudor.
Tudor has less than 2% market share globally. Only TH-camrs are making a big fuss about it.
Good question. Probably not at all is my guess. Would be wierd if bucherer became tudor/rolex only stores 👍
Rolex does not have a buying experience that’s why the grey market is so strong. Why can you not just buy what you want, it’s available on the grey market.
This too is true at many ad’s 😀
catuious is the word that fits better
Probably, but I do have to think a little bit more about “catchy titles”. Either way - it’s the same sentiment 😀
I still cannot get my daytona from the distributors and i don’t want to buy a tonne of rubbish to get one. Still waiting.😢
You'll likely be waiting for quite a while unfortunately ... 👍
Is this not to also develop another sister brand?
So Rolex now has three watch brands? Rolex, Tudor and bucherer!
Not untrue 😂😂😂
buy all of the a-series peripheral movement CFB watches before they are discontinued? @@Mike.thiswatchthatwatch
Very clearly explained!
Glad it was helpful! 😃
We should all be scared of massive equity funds since they are buying everything (hospitals, pharmacies, etc…): this is total integration.
Private equity has a bad rep for a reason 😃😃
Agreed this is defensive and probably ego driven.
That's my thinking for now at least 😀
If rolex was really scared or even worrying about customer, the first thing to do would be to communicate about it and tell to watch enthusiast that they understood the issue and frustration and that buying bucherer is part of a bigger plan to restore confidence....in fact this is another Bellshill plan to continue to sell their overpriced stuff keeping the resource artificially scarce...business as usual...
Rolex: the best 40% Chinese parts watch in Switzerland.
Lol 😂
I understand your reasoning, but I don't agree. You're talking about a shift of power. But the customer doesn't care who is the AD. The product is wanted. So Rolex has all the power. They can take away dealership at any time and give it to other ADs. That is what some other brands do anyway. Other premium brands take away dealership rights and only have one shop. Reducing the number of dealers. Rolex doesn't need Bucherer as much as Bucherer needs Rolex....
As there is no available stocks, all assumptions are not valid. Who cares when all stocks are from grey market at least x2 of the MSRP. Maybe they are preparing for new factory output down the road.
Just Remember 98% of people couldn't care less what Rolex do .Only us mugs who play there game
Very very true 😀
I doubt I will ever be able to get a James Bond Sub unless I win the lottery or buy one that was stolen(so I'll never own a Rolex, basically), but through gray market I was able to get the John Wick watch, which introduced me to the brand, and I have to say, despite being a hardline Omega guy, the Bucherer design language and quality rally sold me on the brand. As for what Rolex will do with them, I hope they leave them alone and let CFB do their thing, as it's a luxury brand to be sure, but it's not a powerhouse brand like Rolex or Omega. I enjoy the idea that I'm wearing a heirloom timepiece that despite the meteoric popularity of John Wick, isn't onthe tip of everyone's tongue like Longines, Breitling or Patek. Rolex is to me a bastardhole of a company that vastly overpriced their product(but it is not of diminished quality) and the secondary market has completely removed the middle class customer like me out of the realm of ownership. And I'm sure they do not care one iota. If I could afford to go out and buy a Daytona while wearing a Richard Mille, I wouldn't care either, I guess.
Rolex bought Bucherer simply because otherwise someone else would do it with potential repercussions to its distribution network, just like that.
Exactly 😀
Good points.
Thanks! 😀
Excellent! Interesting take.
Thanks. Glad you found it a worthwhile watch 😀
Sorry, I do not want to sound dismissive, but every argument used for your conclusion is speculative. So, I am not really convinced. Rolex is already vertically integrated, perhaps (so speculation also from me) this is the last link. What is the ultimate goal? Only Rolex knows.
good take
Thanks 😀
this makes sense! all private equity firms and investors scratching their heads why they did not think about this lols the Rolex Experience is manipulated, ridiculed and shamed hahhaahah
I think breitling should buy mcdonalds
A mcnavitimer 😀😂
I don't care about all negative comments Rolex is top dog !!!