Ernest Jones stopping selling Rolex

[ratty]

Hello

I've just been into my local Ernest Jones store in the UK and was told that that store has stopped selling Rolex and the rest of the chain is stopping later this year.

My question is, does a chain like EJ have to buy Rolex watches and stock them prior to sale? If so, I wonder if there will be any reductions later in the year to sell of stock??

[aria]

crawley branch stopped selling earlier this year

[ratty]

When dealers stop selling Rolex do they have to hand back their displays etc?

[The GMT Master]

Hi Graham,

As far as I know, they buy the watches and stock them centrally before distributing out to their stores. Rolex don't generally send out watches on approval, so the vast majority of the stock will already have been paid for. As for displays, they remain the property of Rolex, so they are taken back when they're changed or if an agency is removed

Chris

[mopsey]

Bummer. Now I've no excuse to go and see the lovely Rachel at EJ Bluewater. :-(

[Al1988]

I'm not surprised that many of their branches have lost AD status but i'd find it very surprising if the entire Signet chain stopped selling Rolex, surely they represent the majority of ADs in the UK?

[77T]

SO some deals may be in the offing!

[The GMT Master]

Originally Posted by Al1988

I'm not surprised that many of their branches have lost AD status but i'd find it very surprising if the entire Signet chain stopped selling Rolex, surely they represent the majority of ADs in the UK?

Whole Signet Group have been dropped, from what I've heard as well. I would think the Aurum Group Goldsmiths, Mappin & Webb and WoS) would be the biggest, but the biggest doesn't mean the best. All of my experiences with Goldsmiths have been less than stellar, WoS tend to be pretty decent however

[77T]

Originally Posted by mopsey

Bummer. Now I've no excuse to go and see the lovely Rachel at EJ Bluewater. :-(

Switch to Omega

[Al1988]

Originally Posted by The GMT Master

Whole Signet Group have been dropped, from what I've heard as well. I would think the Aurum Group Goldsmiths, Mappin & Webb and WoS) would be the biggest, but the biggest doesn't mean the best. All of my experiences with Goldsmiths have been less than stellar, WoS tend to be pretty decent however

Ah wow, I hadn't heard that. Perhaps Rolex got tired of the 10% Signet Card discount

I've never encountered a Goldsmiths Rolex AD so can't comment on them but WoS tend to be ok.

I do most of my purchasing from Fraser Hart though, can't say a bad word about them.

[esm]

Originally Posted by Al1988

Ah wow, I hadn't heard that. Perhaps Rolex got tired of the 10% Signet Card discount

I've never encountered a Goldsmiths Rolex AD so can't comment on them but WoS tend to be ok.

I do most of my purchasing from Fraser Hart though, can't say a bad word about them.

Wouldn't be surprised if FH is next though.
(used to do quite a lot of business with FH, but now it is the Aurum Group)

[Al1988]

Originally Posted by esm

Wouldn't be surprised if FH is next though.
(used to do quite a lot of business with FH, but now it is the Aurum Group)

Haha if that happens i'll have gone from having 3 ADs within 15 minutes of me to none

I'll have to travel into Central if they all go.

[Harry Brown]

It's no surprise to me they're being dropped by Rolex. Their staff I've spoken with appear clueless, the stores (I've seen) are boring and un-inviting.
If I was Rolex I wouldn't want them selling my product....Wise move Rolex

[Lanfor]

As has already been said I doubt Rolex like the signet card. Everyone knows about the signet card now so most people just go to get their 10% off which is just devaluing the brand. I found out a while back, but it wasn't my place to say...

[dlhussain]

A senior sales guy at EJ told me it was due to rolex margins being small hence not as profitable as omega for them... But I also feel its one of the worst places to buy a Rolex, I wanted to buy a sub and a gmt they wouldn't let me, some idiot from head office calls up and says 'we won't be supplying you with any sports models'... I thought f*ck you then and bought it from goldsmiths instead without having to wait for the sub for ages

[dlhussain]

The team at ernst jones Watford and Richmond are fabulous though

[cajunron]

Originally Posted by dlhussain

A senior sales guy at EJ told me it was due to rolex margins being small hence not as profitable as omega for them... But I also feel its one of the worst places to buy a Rolex, I wanted to buy a sub and a gmt they wouldn't let me, some idiot from head office calls up and says 'we won't be supplying you with any sports models'... I thought f*ck you then and bought it from goldsmiths instead without having to wait for the sub for ages

You had the money to purchase a watch and they refused you? What's that all about?

[Loch Ness Explorer]

Originally Posted by dlhussain

A senior sales guy at EJ told me it was due to rolex margins being small hence not as profitable as omega for them...

I always thought the jewelry and watch margins were keystone (50%) do you have an idea what margin EJ was trying to get on Rolex? Margin wars? I had no idea.

[dlhussain]

Originally Posted by rgdejong

You had the money to purchase a watch and they refused you? What's that all about?

Apparently I'm buying them to sell them off (at a loss)... In the end it was their loss, really amateur IMO

[dlhussain]

Originally Posted by Loch Ness Explorer

I always thought the jewelry and watch margins were keystone (50%) do you have an idea what margin EJ was trying to get on Rolex? Margin wars? I had no idea.

Basically by reducing the margins it stops ADs giving discounts, from what I was told the margin was near to 20%, the aurum group rarely give discounts so i guess Rolex were happy to just make them their main AD network. Signet group wanted a bigger margin so pulled out in the end.

[Puffy]

Originally Posted by Harry Brown

It's no surprise to me they're being dropped by Rolex. Their staff I've spoken with appear clueless, the stores (I've seen) are boring and un-inviting.
If I was Rolex I wouldn't want them selling my product....Wise move Rolex

i'd agree!

[esm]

Originally Posted by dlhussain

Apparently I'm buying them to sell them off (at a loss)... In the end it was their loss, really amateur IMO

actually no. im sure the pressure from Rolex HQ is that they need to "protect" the Rolex image and not having someone who is not authorised to act as their agent.

in saying that, EJ would be my last source of Rolex watches if i am honest.

[crs12]

very helpful in EJ near Bond Street and Goldsmiths at Liverpool Street but WOS near Selfridges just couldnt be bothered to help me.

[esm]

Originally Posted by crs12

very helpful in EJ near Bond Street and Goldsmiths at Liverpool Street but WOS near Selfridges just couldnt be bothered to help me.

it happens really.. many factors, such as time of the day, and the availability of staff.

not trying to stick for certain ADs, but my experience was the total opposite for the exact ADs you have mentioned.... again, i was in there during sale and peak periods...

[crs12]

Originally Posted by esm

it happens really.. many factors, such as time of the day, and the availability of staff.

not trying to stick for certain ADs, but my experience was the total opposite for the exact ADs you have mentioned.... again, i was in there during sale and peak periods...

agree totally on this.

Most helpful is Selfridges but forget about any type of discount.

[Al1988]

I've found WoS to be hit and miss. Some days they are complete snobs and others they couldn't be more helpful.

At least EJ were consistently awful

[tlbarrs]

My experience with EJ in Birmingham was very good, 10% discount and two free links! I will be sad to see them go.

[travisb]

Another one bites the dust..
They just keep on falling. There will be more to go I'm sure..

[Lanfor]

Originally Posted by tlbarrs

My experience with EJ in Birmingham was very good, 10% discount and two free links! I will be sad to see them go.

Good for the Buyer, but bad for Rolex. The days of discounting Rolex are slowly coming to an end, which is unfortunate for the buyer.

[mactrack]

Of the 6 Rolex watches I have bought 5 of those were from EJ the other one, a stainless steel Daytona, was from Goldsmiths. I also had the benefit of the 10% discount card and 0% finance on top.

I'm going to buck the general trend and advise that I had excellent service with all my purchases and would not hesitate to recommend them. The only caveat I would make is to deal with a manager.

It comes as no surprise that, as Rolex are moving their brand even more upmarket by way of ever more price rises and specialist store areas/boutiques, EJ with their discount and high street presence don't fit in with the new regime and therefore they were always going to be an easy target. I don't doubt that it was Rolex's decision to drop the Signet Group and not the other way round.

I actually think it's a bit sad that nearly 40 continuous years as a Rolex UK AD count for nothing and this, combined with the decision by Rolex UK to apply the recent price rise back in November to the just the new EXPII and that generally new prices have reached an unacceptable level for me, mean that instead of celebrating an upcoming significant birthday with a new Rolex I have put my name down for a PP. Of course I know that Rolex won't care one bit so neither do I.