Another Florida AD bites the dust

[obywan]

There are so many ads in Florida right now that it's likely we'll see even more cuts coming soon.

[train-time]

Originally Posted by Fleetlord

This is an interesting demise.

They had a nice, modern looking (current buildout) store in a fantastic area...

But...

They are an independent. Bucherer took over the Torneau there and that was that.

It's ALWAYS better (for Rolex) to have less Rolex dealers in a market than more. So, off they go. More to follow as there are still too many Rolex dealers in Florida.

Exactly correct if not for anything else than to better manage relationships and oversee fewer franchise outlets. We experienced this when we purchased a franchise in the mid-nineties only to discover that effective with the upcoming millennium, corporate was changing their strategy for franchise dealers and were cutting margins which would require a dealer to purchase more locations to make the same profits. For the corporation, they would end up overseeing fewer and more successful dealers as well as increasing their profit margins per location. I suspect Rolex wants to weed out the one store locations and deal with the bigger multi location operations as well. Less hassle for them in the long run.

[OTX]

If I was an independent AD, I would be very scared right now. Seems like Rolex is consolidating to chains and bigger ADs in more prominent areas with high traffic. Recently here in the Midwest, Rolex cut 2 independent dealers and I see many more following. It’s in Rolex’s best interest this way to have more control over the supply. The bad part is the experience. Independents usually offer a more personal experience and you actually have a shot of getting a hot piece as many times you can meet the owner and get to know them. Not always but a higher probability. At the bigger chains, the experience is usually cold and you are merely another number.

[casadecamporolex]

This re-alignment of retail outlets in the USA is becoming predictable by now.
I’ve experienced 4 different family owned jewelers demise over the last 5 years.
Now centered around major population centers, either boutiques or multi-store owned entities(Fink, Hamilton, Lee Michaels for example).
As for Bingham’s, they as all ADs find out 90 days before the account is closed.
The holdback is certain procedure once you have been told.