Kering announces the sale of Girard-Perregaux and Ulysse Nardin to their Management

[Jimbo]

I know this is off topic, but does anyone have opinions about Watchbox buying a big stake (was it majority stake?) in De Bethune?

It's one thing to have a watch conglomerate or luxury brand purchasing a watchmaker, but it feels kinda funny a luxury watch reseller would put such a stake in a watchmaker.

Watchbox has been pounding buyers on De Bethune to the point that it's kinda become cliche. But now there is a clear financial incentive to keep pushing the brand.

It seems like a move that will open Watchbox to more criticism about its credibility when it comes to watch recommendations.

[ajw45]

Originally Posted by Jimbo

I know this is off topic, but does anyone have opinions about Watchbox buying a big stake (was it majority stake?) in De Bethune?

It's one thing to have a watch conglomerate or luxury brand purchasing a watchmaker, but it feels kinda funny a luxury watch reseller would put such a stake in a watchmaker.

Watchbox has been pounding buyers on De Bethune to the point that it's kinda become cliche. But now there is a clear financial incentive to keep pushing the brand.

It seems like a move that will open Watchbox to more criticism about its credibility when it comes to watch recommendations.

Other than the fact that I can't afford one now, I think it's a good thing. Two of the biggest hurdles with buying a DB before was whether they would be around long enough to service the watches and resale prices. WB solved both of these issues but in return for that added value plus some hype and supply manipulation and prices have gone through the roof. I was a little annoyed when WB consolidated all the pre-owned inventory last summer and pushing prices up but they were still at a discount to retail so fair game. Now prices are way over retail and and it sucks but that's the watch market today.

As for the future, I actually think WB will be a great place for DB. IMHO they have enough experience in the market selling watches from failed brands for pennies on the dollar that I think they know what not to do to a brand and they have a more direct link to end customers to help connect the art of DB with the reality of the market. They of all people will know the discipline of tightly matching production with demand. Even better, WB is not a luxury brand or a watchmaker so I don't think they approach this with the ego of an LVMH to change or turnaround the brand and in that way screw it up. All indications are that they will let DB be DB, but give it the capital and the retail strategy to make it sustainable.

As far as pushing the brand, well, they were pushing DB for years before the acquisition, I don't see how this changes anything. DB makes less than 200 watches a year, it's nothing burger. Patek and AP each make what, like 60k/year? No one looking at a Breitling is going to get upsold by WB into a DB and even if WB managed to convince 200 people to buy a DB instead of an overpriced 5711, I think those customers would get a better watch and be more well of for it. I mean, it's not like they are sprooking aventi watches, the DB watches are fully excellent with better finishing than anything at a similar price from the trinity + FPJ.

[Russell996]

Originally Posted by Jimbo

I know this is off topic, but does anyone have opinions about Watchbox buying a big stake (was it majority stake?) in De Bethune?

It's one thing to have a watch conglomerate or luxury brand purchasing a watchmaker, but it feels kinda funny a luxury watch reseller would put such a stake in a watchmaker.

Watchbox has been pounding buyers on De Bethune to the point that it's kinda become cliche. But now there is a clear financial incentive to keep pushing the brand.

It seems like a move that will open Watchbox to more criticism about its credibility when it comes to watch recommendations.

It's a small world, Richemont own Watchfinder.

[Nav01L]

Originally Posted by Jimbo

I know this is off topic, but does anyone have opinions about Watchbox buying a big stake (was it majority stake?) in De Bethune?

It's one thing to have a watch conglomerate or luxury brand purchasing a watchmaker, but it feels kinda funny a luxury watch reseller would put such a stake in a watchmaker.

Watchbox has been pounding buyers on De Bethune to the point that it's kinda become cliche. But now there is a clear financial incentive to keep pushing the brand.

It seems like a move that will open Watchbox to more criticism about its credibility when it comes to watch recommendations.

From the perspective of both brands it’s a very good move. DeBethune finally have a distribution channel that works and WB get to actually benefit from their hard work hyping up the brand, rather than doing it only to see their inventory move and/or appreciate as they did with Journe. I mean imagine how they must feel about Journe, they made good money by becoming the unofficial vintage arm of the brand, but they also contributed in a major way to building the brand itself and that they get nothing for. No wonder chatty Tim is so bitter about FPJ „the man“, but not the brand, as he will always immediately specify to protect the multimillion interest his company still has in its watches.

As for us collectors and enthusiasts, we just have to face the fact that most of the „watch media“ is really more „watch monetizing“. We somehow keep holding these formats to journalistic standards, when they’re really more akin to the good old teleshopping channel. In this regard, watchbox is actually quite open and makes no pretense of being an objective resource („if you love this watch, email chatty Tim at chattytim@thewatchbox.com)… In this respect, they are much unlike other publications which try to uphold the illusion of a barrier between editorial and sales when it’s obviously too porous to even serve as a fig leaf (Hodinkee anyone? Revolution? Etc, etc).