ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
15 July 2016, 10:52 PM | #1 |
2024 Pledge Member
Join Date: Oct 2011
Real Name: Seth
Location: nj
Watch: Omega
Posts: 24,703
|
Swatch Group
Wow. Shares down 10% and they are warning that their upcoming earnings report is going to be bad.
__________________
If happiness is a state of mind, why look anywhere else for it? IG: gsmotorclub IG: thesawcollection (Both mostly just car stuff) |
15 July 2016, 11:18 PM | #2 |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 36,875
|
Doesn't surprise me. Low end market eaten up by smart watches and high end is soft with their brands. I have never seen someone purchasing a breguet or blancpain at the AD and was just in the Madison ave bp boutique and was the only soul inside. This was Saturday around noon!
__________________
|
16 July 2016, 12:25 AM | #3 |
2024 Pledge Member
Join Date: Apr 2008
Real Name: Rommel
Location: Toronto Canada
Watch: 116710LN
Posts: 8,983
|
Oh man, tough times. No wonder they decided to still supply ETA movements to other companies. I'm interested to see how they'll try get out of this.
|
16 July 2016, 01:01 AM | #4 |
"TRF" Member
Join Date: Oct 2009
Real Name: Marc
Location: SoCal
Watch: Not enough ;-)
Posts: 21,232
|
Not good but it will pick up again
Sent from my SM-N920T using Tapatalk |
16 July 2016, 01:05 AM | #5 |
Banned
Join Date: Nov 2015
Real Name: Karl
Location: Kuwait
Posts: 5,228
|
60% drop in earnings!!! Eeeew...Richmont with bad news last month and Swiss franc still strengthening going to cause loads of pain!
|
16 July 2016, 01:41 AM | #6 |
Banned
Join Date: Oct 2014
Real Name: The Enabler
Location: South Cackalacky
Watch: me crash my bike
Posts: 5,564
|
I wonder if this is due to the smart watch coming out? Most of the people I know who can't be separated from their phone have an iwatch. If I didn't need to get email from my phone for work, I would go back to a flip phone.
|
16 July 2016, 02:59 AM | #7 |
Liar & Ratbag
Join Date: Nov 2009
Real Name: Renato
Location: NYC / Miami Beach
Watch: Rolex Daytona
Posts: 5,344
|
Has very little to do with smart watches and a lot to do with a volatile economy. Economies in China, Russia, and Brazil. Add the EU in the mix and not a lot of big spending lately or in the near future
|
16 July 2016, 03:03 AM | #8 |
"TRF" Member
Join Date: Dec 2009
Location: London
Posts: 2,081
|
Tough times but Swatch are to be commended for committing to keeping their staffing levels at the same level (i.e. not laying anyone off) no matter what turns the market takes. How long they can stick to this though is questionable.
|
16 July 2016, 03:05 AM | #9 |
"TRF" Member
Join Date: Jan 2011
Real Name: gus
Location: East Coast
Watch: APK & sometimes Y
Posts: 26,018
|
They should probably capture a few Pokemon.
__________________
|
16 July 2016, 03:22 AM | #10 |
"TRF" Member
Join Date: Dec 2013
Location: FL
Watch: platinum sub
Posts: 15,884
|
as a public company that is a disservice to their shareholders. in fact it is somewhat of a violation of their fiduciary duty to earn the highest profit attainable. layoffs will occur.
__________________
If you wind it, they will run. 25 or 6 to 4. |
16 July 2016, 03:30 AM | #11 | |
"TRF" Member
Join Date: Sep 2015
Real Name: Brandon
Location: Los Angeles, CA
Watch: Yes Please!
Posts: 6,690
|
Quote:
__________________
Rolex GMT Master II 116710LN Panerai PAM 359 Audemars Piguet RO 15300OR Follow me on Instagram: @b_jakobovich |
|
16 July 2016, 03:49 AM | #12 | |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 36,875
|
Quote:
I wouldn't say nobody wants them. But I wouldn't want to have to eat what I kill selling them at an AD. Problem is joe blow has never heard of blancpain and probably breguet as well. No aggressive marketing budget to support the brand. Come to think of it, outside Rolex and omega most boutiques I've visited are empty for the most part. Not sure these watch companies have enough marketing driven demand to warrant a boutique the way Rolex and for example major fashion houses like LV Chanel etc do. With that said, I do enjoy the boutique experience so long live the boutique
__________________
|
|
16 July 2016, 03:59 AM | #13 |
"TRF" Member
Join Date: Mar 2016
Location: USA
Watch: All
Posts: 500
|
Yeah, not good at all and Omega is 'branching out' into sunglasses:
http://www.reuters.com/article/swatc...-idUSL8N19S39E A pair of sunglasses with your Moonwatch sir? |
16 July 2016, 05:13 AM | #14 |
2024 Pledge Member
Join Date: Oct 2011
Real Name: Seth
Location: nj
Watch: Omega
Posts: 24,703
|
I think you are exactly correct.
__________________
If happiness is a state of mind, why look anywhere else for it? IG: gsmotorclub IG: thesawcollection (Both mostly just car stuff) |
16 July 2016, 05:19 AM | #15 |
"TRF" Member
Join Date: Dec 2009
Location: London
Posts: 2,081
|
True and I did consider that but loyalty and honour goes a long way and that's something customers will respect too in better times.
|
16 July 2016, 05:31 AM | #16 |
Banned
Join Date: Dec 2015
Location: SF Bay Area
Watch: 1655/MkI
Posts: 1,100
|
don't kid yourself. if Rolex came out with their own brand of boutique sunglasses, the chances are a sizable number of people would buy them & we'd probably never hear the end of it...with countless numbers of inane 'see me with my Submariner & Oyster shades' threads/posts.
|
16 July 2016, 05:56 AM | #17 | |
Liar & Ratbag
Join Date: Nov 2009
Real Name: Renato
Location: NYC / Miami Beach
Watch: Rolex Daytona
Posts: 5,344
|
Quote:
Most people do t buy watches or any other consumer good thinking about its resale value. I buy watches regardless of resale but It just so happens to be a bonus that Rolex keeps much of it value. Sent from my iPhone using Tapatalk |
|
16 July 2016, 06:03 AM | #18 |
"TRF" Member
Join Date: Dec 2013
Location: FL
Watch: platinum sub
Posts: 15,884
|
unfortunately the customers and shareholders are two different groups of people (generally).
__________________
If you wind it, they will run. 25 or 6 to 4. |
16 July 2016, 06:12 AM | #19 |
"TRF" Member
Join Date: Dec 2009
Location: London
Posts: 2,081
|
|
16 July 2016, 12:39 PM | #20 | |
Banned
Join Date: Aug 2014
Location: Calumet Harbor
Watch: ing da Bears
Posts: 13,568
|
Quote:
|
|
16 July 2016, 03:54 PM | #21 | |
Banned
Join Date: Aug 2015
Location: down by the river
Posts: 4,926
|
Quote:
Sent from my SM-G9200 using Tapatalk |
|
16 July 2016, 04:25 PM | #22 |
"TRF" Member
Join Date: Oct 2014
Real Name: Chopped Liver
Location: S. Wales Valleys
Watch: Mickey Mouse
Posts: 9,924
|
A lot of the high-end boutiques here in Singapore don't seem to be empty when I pass them by.
__________________
116520 Black, 116610 LVc, 116660 D-Blue, 116610 LNc, 116622 Blue, PAM359, PAM689, PAM737 "Why should you allow an AD to shake you down, just so you can buy a watch" - Grady Philpott Card carrying member of TRF's Global Association of Retro-Grouch-Curmudgeons
|
16 July 2016, 05:53 PM | #23 |
"TRF" Member
Join Date: Nov 2009
Real Name: Andreas
Location: Margaritaville
Watch: Smurf
Posts: 19,879
|
I have a feeling the watch-craze we have seen during the last ten years or so is slowing down.
Trends go up and down. I know my watch interest has been slightly subdued. Mostly to the outlandish used-watch pricing, and low availability of some pieces.
__________________
Yeah, well, you know, that's just, like, your opinion, man. |
17 July 2016, 12:15 AM | #24 | |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 36,875
|
Quote:
Same in NYC. I'm predicting the shift to boutiques will be short lived for many brands.
__________________
|
|
17 July 2016, 12:21 AM | #25 | |
"TRF" Member
Join Date: Jan 2011
Real Name: gus
Location: East Coast
Watch: APK & sometimes Y
Posts: 26,018
|
Quote:
What will the evolution be, a watch superstore? Oh wait, it's called tourneau...last man standing when swatch and richemont come to terms with the stockholders and the changing economy? Maybe the two super corporations (Richemont/Swatch) open competing boutique super stores?
__________________
|
|
17 July 2016, 12:30 AM | #26 |
"TRF" Member
Join Date: Sep 2014
Real Name: Jim
Location: Connecticut
Watch: this! Hold my beer
Posts: 2,813
|
Well I for one hope this depresses pricing so I can think about acquiring watches again. The prices are inflating so fast the bubble will burst.
Only ones hurt will be the speculators buying watches for short term gains (?). Maybe there's hope I can get a 1655! |
21 July 2016, 01:00 AM | #27 |
"TRF" Member
Join Date: Nov 2013
Real Name: Will
Location: Kuala Lumpur
Watch: SubC, Pam, Speede
Posts: 3,140
|
|
23 July 2016, 02:03 AM | #28 | |
Banned
Join Date: Dec 2015
Location: England
Posts: 456
|
Quote:
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.