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Like it or not, this is what great brands due and how they stay "great"
I remember watching a Hodinkee talking watches with the outgoing AP CEO and he made it clear that one of the most important things (in the mid 2000's) they did as a brand was, besides get watches on the wrist of "influential" celebrities and business leaders, to greatly cut down the points of sale (AD Doors).
Too much distribution is toxic in this space. Rolex feels they have too much distribution and they will eliminate those that don't fit in anymore. It feels ruthless, I know, but so is consumer sentiment.
Look as recently as Grand Seiko.....market darlings just a few years ago...but they overproduced and over distributed their position and the market is making them pay with sudden indifference. It doesn't take much to tip the balance and it can happen very quickly.
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