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Old 29 February 2024, 11:00 AM   #1
Beary Little Xmas
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Rolex Sales Reach $10 Billion for the First Time: Report

The watch industry heavyweight raked in billions as its market share grew by just over 30 percent.

https://robbreport.com/style/watch-c...me-1235527449/
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Old 29 February 2024, 11:17 AM   #2
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Old 29 February 2024, 11:20 AM   #3
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"The billion-dollar total represents an 11 percent gain from 2022...."

Currency devalued ~8%, so only ~+3% when one considers monetary value.
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Old 29 February 2024, 11:36 AM   #4
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Thanks for sharing! Please don’t let the small amount of grouchy folks turn you away from this forum.
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Old 29 February 2024, 01:24 PM   #5
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Originally Posted by Beary Little Xmas View Post
The watch industry heavyweight raked in billions as its market share grew by just over 30 percent.

https://robbreport.com/style/watch-c...me-1235527449/
Interesting, as they seem such a heavyweight, and in the watch industry they are of course. If the list I found online is to be believed, that would put Rolex 1109th on the list of largest companies in the world by revenue in 2023.

News Corp, Ebay and Toll Brothers are companies I recognized that were nearby on that list.
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Old 29 February 2024, 01:51 PM   #6
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Rolex 2023 Year End Results

An impressive 2023 for Rolex

10.1 billion CHF in sales (a new record!)
1.24 million units sold
30.3% market share of Swiss watch market
12,218 CHF average retail selling price per watch

Source: LuxeConsult and Morgan Stanley Annual Research report via Revolution Watch
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Old 29 February 2024, 02:12 PM   #7
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I know doing averages is dangerous, given the disparity between Rolex’s smallest and largest ADs….but it is interesting to consider…

With 1.24 million pieces being sold, that’s roughly 688 per AD (assuming 1,800 ADs). Assuming a 6 day work-week, that’s about 2 watches per day per AD. I know WoS on Regent in London is selling more Rolex watches than an AD in a smaller metro area in the states, but the fact remains- watches are moving….but they do an amazing job making you believe that they are not!
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Old 29 February 2024, 02:16 PM   #8
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One and a quarter million watches sold last year. Wonder how many they would have sold if there wasn't a shortage lol
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Old 29 February 2024, 08:48 PM   #9
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I know doing averages is dangerous, given the disparity between Rolex’s smallest and largest ADs….but it is interesting to consider…

With 1.24 million pieces being sold, that’s roughly 688 per AD (assuming 1,800 ADs). Assuming a 6 day work-week, that’s about 2 watches per day per AD. I know WoS on Regent in London is selling more Rolex watches than an AD in a smaller metro area in the states, but the fact remains- watches are moving….but they do an amazing job making you believe that they are not!

It’s the perfect operating model from a business perspective.


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Old 29 February 2024, 08:56 PM   #10
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One and a quarter million watches sold last year. Wonder how many they would have sold if there wasn't a shortage lol
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Old 29 February 2024, 10:03 PM   #11
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Old 29 February 2024, 10:13 PM   #12
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I read this article and will go back and read it again to better understand some of the data. Interesting that Rolex is so dominate and that Cartier has passed Omega, I think this happened last year also. Tudor is a concern, as I think they have milked the Black Bay and without something different to offer will be stagnant or lose share.
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Old 29 February 2024, 10:25 PM   #13
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Quote:
Originally Posted by d11n View Post
An impressive 2023 for Rolex

10.1 billion CHF in sales (a new record!)
1.24 million units sold
30.3% market share of Swiss watch market
12,218 CHF average retail selling price per watch

Source: LuxeConsult and Morgan Stanley Annual Research report via Revolution Watch
But how can this be possible as many state on forum without so called AD relationship Rolex dont sell watches from there watch shops, unless you are a high roller or have this relationship stuff.
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Old 29 February 2024, 10:44 PM   #14
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But how can this be possible as many state on forum without so called AD relationship Rolex dont sell watches from there watch shops, unless you are a high roller or have this relationship stuff.
because almost every watch is already sold to an existing customer when it arrives. not sure why you refuse to believe the relationship stuff but ADs don't sell to walk ins anymore, that's a fact
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Old 29 February 2024, 10:47 PM   #15
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But how can this be possible as many state on forum without so called AD relationship Rolex dont sell watches from there watch shops, unless you are a high roller or have this relationship stuff.
(Said in very friendly humor) PADI, pretty please stop making sense, common sense no less... it hurts my brain.

Is it me PADI, or does there seem to be more 'troll-like' posts recently here on TRF?
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Old 29 February 2024, 10:50 PM   #16
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That’s a lot of watches. I hope they don’t blow their brains out
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Old 29 February 2024, 10:52 PM   #17
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(Said in very friendly humor) PADI, pretty please stop making sense, common sense no less... it hurts my brain.

Is it me PADI, or does there seem to be more 'troll-like' posts recently here on TRF?
Not sure about more troll posts but there seems to be a trend where members are quick to jump on newbie posts and trash them. Not sure why so many get a kick out of beating up on newcomers
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Old 29 February 2024, 11:14 PM   #18
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Thanks for sharing! Please don’t let the small amount of grouchy folks turn you away from this forum.
Well said. So many grumpy old men on here.
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Old 29 February 2024, 11:51 PM   #19
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Rolex Sales Reach $10 Billion for the First Time: Report

Quote:
Originally Posted by 1William View Post
I read this article and will go back and read it again to better understand some of the data. Interesting that Rolex is so dominate and that Cartier has passed Omega, I think this happened last year also. Tudor is a concern, as I think they have milked the Black Bay and without something different to offer will be stagnant or lose share.

I’d like to see more detailed data on units sold. They mentioned 1.24 million units for Rolex, but they didn’t mention units sold for any other brands (or maybe I missed it?).


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Old 1 March 2024, 12:42 AM   #20
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Interesting post. Do we generally trust these numbers, given how secretive Rolex is?

Someone posted recently something to the effect that 20 years ago Rolex sold 1M watches, but now less than 900,000 (due to nicknames?). How do we reconcile that statement with numbers from this article??
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Old 1 March 2024, 02:57 AM   #21
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I don't recognize the version of the Milgauss shown at the top of the article. What timeframe?
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Old 1 March 2024, 03:05 AM   #22
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1.25 million watches vs 8 billion gen pop… Rolex needs to do better.. mechanical watches are such a niche area…

What is more impressive to me is that RM grosses $1.5 billion per year… that is a huge revenue given production
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Old 1 March 2024, 06:34 AM   #23
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One and a quarter million watches sold last year. Wonder how many they would have sold if there wasn't a shortage lol
Can only wonder. My guess, 416,000 units if there was no chase, no panic, no FOMO.
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Old 1 March 2024, 06:37 AM   #24
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I don't recognize the version of the Milgauss shown at the top of the article. What timeframe?
That's the version we want them to bring back!!! Milgauss 6541
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Old 1 March 2024, 07:40 AM   #25
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Yeah, what shortage. ADs just giving to who they want, and to gray market.
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Old 1 March 2024, 11:25 AM   #26
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I thought it would have been more than that. If you say an average of $12,000 a watch, that only comes out to 833,000 watches.

If you say an average of $10,000 to watch, that’s still only 1 million watches
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Old 1 March 2024, 11:27 AM   #27
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Yeah, what shortage. ADs just giving to who they want, and to gray market.
That’s less than 1 million watches, half of them being women’s watches. Once I checked, Rolex has over 100 different configurations. And over 1000 locations. That’s why the shortage is
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Old 1 March 2024, 12:20 PM   #28
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What is more impressive to me is that RM grosses $1.5 billion per year… that is a huge revenue given production
I had to read that twice, and then fact check you. Wow that is stunning. 1.56 billion from 5600 units sold. Unbelievable. Good for him.
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Old 1 March 2024, 10:44 PM   #29
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I didn’t dig in too closely on this and may have missed it if it’s been clarified, but is it possible that the ~$11.5B USD represent the revenue to Rolex in sales to dealers (not retail sales to consumers?), and grossed up might represent $17-18B USD in retail sales. And thus an average retail transaction of closer to $14,000 or if the 1.24m unites number is accurate?
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Old 1 March 2024, 10:47 PM   #30
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I didn’t dig in too closely on this and may have missed it if it’s been clarified, but is it possible that the ~$11.5B USD represent the revenue to Rolex in sales to dealers (not retail sales to consumers?), and grossed up might represent $17-18B USD in retail sales. And thus an average retail transaction of closer to $14,000 or if the 1.24m unites number is accurate?



You are correct. There is a chart in this thread that had implied retail value/price in it.

https://www.rolexforums.com/showthread.php?t=938238
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