Patek Philippe sales in 2020 down by 20% is not any kind of big deal

[doramas]

https://timeandtidewatches.com/patek...kind-big-deal/

What do you think?

[Bearxj86]

You shut down manufacturing for 2-3 months. It's math.

[Mrngrz46]

Originally Posted by bearxj86

You shut down manufacturing for 2-3 months. It's math.

yes but is telling something more: if the shutdown of the factory reflects 1:1 in loss of sales means the AD has no buffer.

[GoingPlaces]

Non story. There was a factory shut down.

[dimag333]

Weird though as it seems most physical goods seemed to grow the last year

steve

[enjoythemusic]

As others said, a closed factory produces zero products.

[77T]

Originally Posted by doramas

https://timeandtidewatches.com/patek...kind-big-deal/



What do you think?

I think the author’s math is flawed.
“Two months equals 16.7% of the year in production, less when we consider Christmas and summer closing, so what can we say?”

Actually, the traditional summer and Christmas closings effectively removes a month’s worth of output every year - more like 11 months of productivity... So 2 months off due toCovid-19 is 2÷11, or 18%.

That’s more than doing simple calendaring 2÷12.

Sales doesn’t equal production anyway because the shops were also closed during lockdowns.


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[illiguy]

Not a big deal. Patek thinks in decades, not years or months.

[Ubiquitous1984]

Originally Posted by 77T

I think the author’s math is flawed.
“Two months equals 16.7% of the year in production, less when we consider Christmas and summer closing, so what can we say?”

Actually, the traditional summer and Christmas closings effectively removes a month’s worth of output every year - more like 11 months of productivity... So 2 months off due toCovid-19 is 2÷11, or 18%.

That’s more than doing simple calendaring 2÷12.

Sales doesn’t equal production anyway because the shops were also closed during lockdowns.


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It's not strictly true that shops were closed during lockdown. They may be closed for browsing, but I have picked up a new PP during the 3rd UK lockdown through 'click and collect'.

[77T]

Originally Posted by Ubiquitous1984

It's not strictly true that shops were closed during lockdown. They may be closed for browsing, but I have picked up a new PP during the 3rd UK lockdown through 'click and collect'.

I only wanted to point out the math conundrum in the article.

Understand your point. As you’ve mentioned in the three incoming threads you shared despite different UK “lockdowns”, the staff at shops have had to scramble to find workarounds to keep some semblance of sales going. AD’s are bound to be suffering low sales in many of their jewelry and watch lines. If anything it has helped some folks who are already known as valued buyers with some ADs.



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[Ubiquitous1984]

Originally Posted by 77T

I only wanted to point out the math conundrum in the article.

Understand your point. As you’ve mentioned in the three incoming threads you shared despite different UK “lockdowns”, the staff at shops have had to scramble to find workarounds to keep some semblance of sales going. AD’s are bound to be suffering low sales in many of their jewelry and watch lines. If anything it has helped some folks who are already known as valued buyers with some ADs.



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100% agreed and apologies if I came across as nit-picking!

[77T]

Originally Posted by Ubiquitous1984

100% agreed and apologies if I came across as nit-picking!

Didn’t take it that way


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[Calatrava r]

I also think their current dress lineup demand is a tad soft. Plus, they have such limited Calatrava offerings at the moment which is really their bread and butter given their policy to limit steel.

[scurfa]

I just cannot get the feeling out of my head that Patek are in trouble, been feeling it since the rumour they were for sale.

[Partekular]

Originally Posted by scurfa

I just cannot get the feeling out of my head that Patek are in trouble, been feeling it since the rumour they were for sale.

Where did you hear that? Link?

[Russell996]

Originally Posted by scurfa

I just cannot get the feeling out of my head that Patek are in trouble, been feeling it since the rumour they were for sale.

You are joking!