Rumor? Rolex ending partnerships with hundreds of ADs, focusing on boutiques

[csaltphoto]

Originally Posted by bay_area_kid

Kerns just opened a Rolex boutique in San Francisco on Post St. It's right next to their new Patek boutique.

https://www.rolex.com/rolex-dealers/...o-unitedstates

Hope Seal Team 6 is guarding the place...

[bay_area_kid]

Originally Posted by csaltphoto

Hope Seal Team 6 is guarding the place...

Nah, it's in Union Square so it's relatively safe. There are already dozens of boutiques and it's quite a posh area (or as posh as downtown SF can be, lol).

In that same block, within 45 seconds of walking distance:

• Patek Philippe (next door, opening soon)
• Cartier
• Breitling (opened June 2024)
• Ferragamo
• Gucci
• De Beers
• three other jewelry/diamond stores.

In adjacent blocks, within 2 minutes of walking distance:

• A. Lange & Söhne (opened March 2024)
• Omega
• BVLGARI
• Brunello Cucinelli

[johnsonsxusfrt]

Originally Posted by bay_area_kid

Nah, it's in Union Square so it's relatively safe. There are already dozens of boutiques and it's quite a posh area (or as posh as downtown SF can be, lol).

In that same block, within 45 seconds of walking distance:

• Patek Philippe (next door, opening soon)
• Cartier
• Breitling (opened June 2024)
• Ferragamo
• Gucci
• De Beers
• three other jewelry/diamond stores.

In adjacent blocks, within 2 minutes of walking distance:

• A. Lange & Söhne (opened March 2024)
• Omega
• BVLGARI
• Brunello Cucinelli

LOL "relatively safe" is about right. I lived in SF for 11 years before moving out in 2020, I can tell you the place went to sh*t in a handbag between 2016-2020 and has kept sliding since

[csaltphoto]

Originally Posted by johnsonsxusfrt

LOL "relatively safe" is about right. I lived in SF for 11 years before moving out in 2020, I can tell you the place went to sh*t in a handbag between 2016-2020 and has kept sliding since

The big problem is how to park safely. I don't feel particularly unsafe there, personally, but car break-ins are out of control. I've stopped visiting at all.

[HiDive]

Originally Posted by ArtNouveau

Just a point that has been overlooked…when RolexSA bought Bucherer it was said at the time that the purchase was more about the real estate than the jewelry business. RolexSA has never said that they are getting into the retail business via these stores yet people here keep making up scenarios where they are. I certainly believe that Rolex is expecting more from their dealers and closing many, but the Bucherer acquisition has nothing to do with it.
My local Rolex dealer is undergoing a major renovation right now and is currently in temporary quarters across the street. From what they told me Rolex and Tudor will have their own dedicated sections and surprisingly to me they are adding Omega, it will be their only AD in the state.

My favorite Rolex AD did the big Rolex Renovation and they have Tudor, Grand Seiko, Montblanc and TAG and other major displays in smaller areas . On the main watch floor, the new Rolex renovation takes up about one third of the area and Tudor, Grand Seiko, Montblanc and TAG together take about a third and then smaller brands, pre-owned and some jewelry take up the other third in central cases. They used to carry Omega but dropped them for several reasons including Omega telling them that they wanted about as much floor space as Rolex has and along an entire wall. I was disappointed because the only other Omega dealers are pretty far away from me.

[ronricks]

Originally Posted by bay_area_kid

Nah, it's in Union Square so it's relatively safe. There are already dozens of boutiques and it's quite a posh area (or as posh as downtown SF can be, lol).

In that same block, within 45 seconds of walking distance:

• Patek Philippe (next door, opening soon)
• Cartier
• Breitling (opened June 2024)
• Ferragamo
• Gucci
• De Beers
• three other jewelry/diamond stores.

In adjacent blocks, within 2 minutes of walking distance:

• A. Lange & Söhne (opened March 2024)
• Omega
• BVLGARI
• Brunello Cucinelli

So much for it being safe. NFL player was shot in Union Square for his Rolex today.

[xrole]

Originally Posted by ronricks

So much for it being safe. NFL player was shot in Union Square for his Rolex today.

Yeah, anyone who says anywhere is 'safe' in a big city known for crime while wearing a Rolex is truly delusional. A gun robbery can happen anywhere where there is a desperate thief carrying a gun.

If you wear a Rolex or other recognizable luxury watch in a high-crime city, and you walk the streets, then you are automatically exposed to some level of risk. Period.

I mean FFS, you are carrying thousands of dollars on your wrist.

[johnsonsxusfrt]

Originally Posted by csaltphoto

The big problem is how to park safely. I don't feel particularly unsafe there, personally, but car break-ins are out of control. I've stopped visiting at all.

SF 49'er got shot and robbed of his Rolex today in Union Square

[TomInNJ]

Originally Posted by johnsonsxusfrt

SF 49'er got shot and robbed of his Rolex today in Union Square

I hope this isn't an insensitive question. Obviously, I'm sorry this happened to him and I hope he recovers fully and quickly. But the first thought I had was: what model was he wearing?

[johnsonsxusfrt]

Originally Posted by TomInNJ

I hope this isn't an insensitive question. Obviously, I'm sorry this happened to him and I hope he recovers fully and quickly. But the first thought I had was: what model was he wearing?

I thought it was a gold model but don't recall which one. Regardless, you can't wear a flashy watch anywhere in SF safely, and you can thank the radical leftists who run that city and most of CA for the lawlessness

[csaltphoto]

Originally Posted by johnsonsxusfrt

SF 49'er got shot and robbed of his Rolex today in Union Square

Yeah... Saw that and this thread was the first thing that came to mind. Like I said I've just stopped going there.

[codecow]

For those who think it’s ok, just search “Rolex robbery peninsula” all over the peninsula people get jacked often at gunpoint.

At my AD if I go to pick something up sometimes I will walk in with a bigger bag from another store I can use for my new stuff.

I have seen folks out wearing obvious stuff like subs or GMTs with short sleeve shirts and I SMH.

[EndlessEight]

It's no rumor. It's been actively happening for a few years.

[Hollie_Rollie]

Originally Posted by bay_area_kid

Nah, it's in Union Square so it's relatively safe. There are already dozens of boutiques and it's quite a posh area (or as posh as downtown SF can be, lol).

[/LIST][/B]

This aged well..

[lawyerdude]

I really think the AD model is beneficial to Rolex since all AD’s can dump the unwanted watches on the grey,Rolex couldn’t do it themselves.

Now when we look at AP, it doesn’t seem like the boutique model helps customers. You still need to purchase stuff you don’t want. At least most AD’s have options of what to buy. Boutique would mean buying a lot of gold watches you don’t want like code 59 at AP.

[georgekart]

I think we first heard this rumor around 2020. I don't think it's happening. They might slowly switch from ADs to boutiques in the areas where they already have plenty of both (say a city has 8 ADs and a boutique or 2, they can close down a couple ADs, have one more convert to a boutique and call it a day) but I really don't think they'll actually close down ADs in general.

[Poodlopogus]

Originally Posted by TomInNJ

I hope this isn't an insensitive question. Obviously, I'm sorry this happened to him and I hope he recovers fully and quickly. But the first thought I had was: what model was he wearing?

I saw the story and wasn't sure what was more unbelievable:

Just how far what used to be one of the nicest parts of SF has fallen... or the fact that a guy could get shot through the chest and be recovering at home within 24hrs...

[Golfbone]

Originally Posted by watchmavan

The evidence supports that AD’s have brought this upon themselves, if it does indeed happen. They have created and fed the grey market for years. No sympathy whatsoever.


Sent from my iPhone using Tapatalk Pro

While this may be true I suspect a lot of small AD's who have been honest players are getting tossed out with the bathwater and this is really a killer for their businesses. My local jewelry store, from whom I've purchased a few Daytonas,a SkyDweller, Sub and OP from lost their Rolex account and while I used to go in their to browse, shoot the shit and buy some gifts for my wife and whatever, now I rarely go in because they no longer carry Rolex. It's a big loss for these guys when a marquee brand like that is cleared out and now they are pushing Breitling or whatever.

[BroncoOne]

Originally Posted by Dave O

My thoughts for what it is worth. Is Rolex getting rid of some smaller AD's? Yes. In large part they have either gotten in trouble by Rolex or they aren't willing to spend the money needed to upgrade the store per Rolex's request. My Rolex AD isn't large, but they are spending the money to upgrade their store per Rolex's wishes. It's a lot of money to invest just to upgrade your store, but it is required by Rolex if they want to continue to be a Rolex AD. The fact that this particular AD is losing both Cartier and Rolex makes me think there is more to the story here.

Are they down sizing their distribution network? Maybe a little, but not a lot. Rolex sold over 1.2 million watches last year. There are around 2000 AD's in the Rolex network. That means on average each AD is selling around 600 watches a year. Take 500 AD's out of the network and each store goes up to 800 watches/year. And with the new temporary facilities coming on line late this year and early next year output will most likely increase. That's a lot of volume per store.

Again, just my thoughts on the subject.

Agreed. Rolex has a brilliant business model. It has ADs spend all of the money on the stores and the upgrades and they pay in advance for whatever inventory Roles decides to ship the.

Rolex sells them every single watch that it produces, whether the ADs want those particular models or not

I’m not sure why Rolex would even want any more than a handful of its own boutiques.

[OTX]

This store sounds very familiar. Does it happen to be in Wisconsin? I know Wisconsin has 4 ADs and three will be dropped at the end of the month. There will only be one AD in the whole state of Wisconsin. Looks like Rolex is trying to stick to bigger cities.

[Poodlopogus]

Originally Posted by OTX

This store sounds very familiar. Does it happen to be in Wisconsin? I know Wisconsin has 4 ADs and three will be dropped at the end of the month. There will only be one AD in the whole state of Wisconsin. Looks like Rolex is trying to stick to bigger cities.

Any idea which? I have a good guess about which is the one from the OP, I'm assuming the one up north will be one of the ones to get axed (fun fact: I think that would make it the only metro area with an NFL team but no Rolex AD), leaving two. And those two also happen to be Tudor dealers, too.

[fooey]

After a very expensive refit, how long are they guaranteed to have Rolex status?
Or could Rolex pull the plug any time after?
My guess...its got to be a 5 year minimum deal after spending a couple of million

Sent from my SM-G991B using Tapatalk

[OTX]

Originally Posted by Poodlopogus

Any idea which? I have a good guess about which is the one from the OP, I'm assuming the one up north will be one of the ones to get axed (fun fact: I think that would make it the only metro area with an NFL team but no Rolex AD), leaving two. And those two also happen to be Tudor dealers, too.

I heard Schwanke will be the only remaining dealer in Wisconsin and they will be relocating to downtown Milwaukee. If I’m not mistaken, the OP is talking about the AD in Brookfield.

[Poodlopogus]

Originally Posted by OTX

I heard Schwanke will be the only remaining dealer in Wisconsin and they will be relocating to downtown Milwaukee. If I’m not mistaken, the OP is talking about the AD in Brookfield.

Interesting. I'm somewhat familiar w/the area and would have thought that SK's current location would have been better than downtown, but it's been a while since I've spent time there.

Shocking that there won't still be one in Madison (especially since that one seems to be the only one with multiple locations - something Rolex seems to favor of late).

[cdmorenot]

Originally Posted by fooey

After a very expensive refit, how long are they guaranteed to have Rolex status?
Or could Rolex pull the plug any time after?
My guess...its got to be a 5 year minimum deal after spending a couple of million

Sent from my SM-G991B using Tapatalk

They're not guaranteed anything.

I know a former AD of mine spent over $1M on the retrofit only to have their account pulled less than two years later.

[ArtNouveau]

Over the weekend the “watch guy” at my local AD gave me a tour of their future remodeled space. Rolex will be almost 1/3 of the total footage including a private viewing room. Tudor will also have its own separate room and newly acquired Omega will have a large section too. Their jewelry selection will be mostly in the middle of the store with the watches around the edges.

[OTX]

Originally Posted by Poodlopogus

Interesting. I'm somewhat familiar w/the area and would have thought that SK's current location would have been better than downtown, but it's been a while since I've spent time there.

Shocking that there won't still be one in Madison (especially since that one seems to be the only one with multiple locations - something Rolex seems to favor of late).

I was kind of surprised that they axed the AD in Madison too as it’s a somewhat affluent city. Maybe Schwanke will keep the current location too. I do know last weekend when I drove through downtown Milwaukee, I saw a big Shwanke store there. Much bigger than their current location. It’s still under construction. I’m thinking the current location is too small to expand to Rolex requirements so I’m thinking that’s where they will sell mostly jewelry and the other watch brands while selling Rolex only out the downtown location. I think Rolex is trying to make their product more exclusive and have better control over their watches.

[Poodlopogus]

Originally Posted by OTX

I was kind of surprised that they axed the AD in Madison too as it’s a somewhat affluent city. Maybe Schwanke will keep the current location too. I do know last weekend when I drove through downtown Milwaukee, I saw a big Shwanke store there. Much bigger than their current location. It’s still under construction. I’m thinking the current location is too small to expand to Rolex requirements so I’m thinking that’s where they will sell mostly jewelry and the other watch brands while selling Rolex only out the downtown location. I think Rolex is trying to make their product more exclusive and have better control over their watches.

Wonder if location is part of the issue in Madison? I know that area and while the area itself is very nice, and gets a ton of traffic, it’s anything but luxury-evoking. Too bad, for a variety of reasons. Liked both the Madison and Brookfield stores.

Wonder if their watchmakers will get to retain parts accounts. Always loved talking with the guy in Brookfield when in the store. Seems like they were at least somewhat proactive in adding Omega, since its star seems to be rising.

[OTX]

Originally Posted by Poodlopogus

Wonder if location is part of the issue in Madison? I know that area and while the area itself is very nice, and gets a ton of traffic, it’s anything but luxury-evoking. Too bad, for a variety of reasons. Liked both the Madison and Brookfield stores.

Wonder if their watchmakers will get to retain parts accounts. Always loved talking with the guy in Brookfield when in the store. Seems like they were at least somewhat proactive in adding Omega, since its star seems to be rising.

Absolutely spot on about Madison. While somewhat affluent, I don’t get the luxury feeling either there and it seems that’s what Rolex is after. They want stores only in high end areas. I’ve only been to the Brookfield store once and they were very nice to me. Having Omega is good but no where near Rolex as a money maker!. Rolex brings people in. As far as keeping parts, I doubt they will let them keep any. Once Rolex drops you, they are done with you!. By the way, Charlie at Schwanke is also a super cool guy. Got my Bluesy from him. Rolex is doing some major restructuring…more so than ever before. To close 3 out of 4 ADs in a state is huge!.

[Poodlopogus]

Originally Posted by OTX

Absolutely spot on about Madison. While somewhat affluent, I don’t get the luxury feeling either there and it seems that’s what Rolex is after. They want stores only in high end areas. I’ve only been to the Brookfield store once and they were very nice to me. Having Omega is good but no where near Rolex as a money maker!. Rolex brings people in. As far as keeping parts, I doubt they will let them keep any. Once Rolex drops you, they are done with you!. By the way, Charlie at Schwanke is also a super cool guy. Got my Bluesy from him. Rolex is doing some major restructuring…more so than ever before. To close 3 out of 4 ADs in a state is huge!.

I was actually referring to the specific location within Madison: a standalone store on the outskirts of a mall that has seen better days (but even in its heyday was dumpy). The two prior franchisees in Madison had locations more likely to have stayed “Rolex-approved” and I can think of other areas that the crown may have been kinder to. Hilldale, The Square, perhaps others and I wonder if that was part of the issue.

Hopefully you heard wrong, about both of the ill fated stores (no interactions with Green Bay; can’t speak to that one). Also of note, until relatively recently, both Brookfield and Green Bay had Patek, too. Quite impressive for Wisconsin to have two ADs but their showrooms are dwindling faster than Rolex!