OFFICIAL STATEMENT - Rolex Releases Official Comment on Supply "Shortages"

[vh2k]

Official Comment from Rolex:

"The scarcity of our products is not a strategy on our part. Our current production cannot meet the existing demand in an exhaustive way, at least not without reducing the quality of our watches – something we refuse to do as the quality of our products must never be compromised. This level of excellence requires time, and as we have always done, we will continue to take the necessary time to ensure that all our watches not only comply with our standards of excellence, but also meet the expectations of our customers in terms of quality, reliability and robustness. Rolex does not compromise on what it takes to produce exceptional watches.

All Rolex watches are developed and produced in-house at our four sites in Switzerland. They are assembled by hand, with extreme care, to meet the brand's unique and high-quality standards of quality, performance and aesthetics. Understandably, this naturally restricts our production capacities – which we continue to increase as much as possible and always according to our quality criteria.

Finally, it should be noted that Rolex watches are available exclusively from official retailers, who independently manage the allocation of watches to customers."

Statement was released to Yahoo Finance after publication of this article:
https://news.yahoo.com/why-the-rolex...144250922.html

[seabreeze60]

Good find. Thanks

[GMT Aviator]

Nice one. Thanks.

Looks like my Cellini won’t be here anytime soon!

[Dr. Robert]

Meanwhile DavidSW has a good inventory

[HiBoost]

Originally Posted by vh2k

Statement was released to Yahoo Finance after publication of this article:
https://news.yahoo.com/why-the-rolex...144250922.html

Repost!! LOL I beat you by 5 minutes

https://www.rolexforums.com/showthread.php?t=819675

[JodyHighroller]

I’m shocked they actually responded! Haven’t numerous agencies reached out for them to comment on current market conditions since like 2018 with no response?

[ArtNouveau]

I for one think it’s a good thing that they finally responded, breaking the veil of secrecy at least a little bit.
And the answer is exactly what I expected. More demand than supply, it is not a “strategy” as they say. And they do not intend to change their sales methods, keeping the AD model that has worked for decades.

[GMT Aviator]

So, Rolex have spoken, but from the same article, are they listening?…..

‘Rolex could fix all of the frustration from a buyer point of view, Adams said, if Rolex created an official waitlist, or a guaranteed way for people to buy watches they want at retail prices. This would solve the problem, even if prospective buyers had to wait.’

[vh2k]

Originally Posted by ArtNouveau

I for one think it’s a good thing that they finally responded, breaking the veil of secrecy at least a little bit.
And the answer is exactly what I expected. More demand than supply, it is not a “strategy” as they say. And they do not intend to change their sales methods, keeping the AD model that has worked for decades.

Exactly!

1. We aren't artificially restricting production.
2. Demand is through the roof.
3. We don't compromise on our products or react to short-term trends.
4. We are committed to the distributor/retailer-based sales model and we don't micromanage allocation of watches.
5. If you want the best service and reassurance that you are getting a genuine product, purchase only from an official retailer.

[inadeje]

Yahoo Finance? Something tells me that this wasn't from Rolex HQ. The wording seems odd.

[vh2k]

Originally Posted by GMT Aviator

So, Rolex have spoken, but from the same article, are they listening?…..

‘Rolex could fix all of the frustration from a buyer point of view, Adams said, if Rolex created an official waitlist, or a guaranteed way for people to buy watches they want at retail prices. This would solve the problem, even if prospective buyers had to wait.’

He is 100% wrong! I'm glad they don't listen to bloggers and YouTubers.

[Sub*Man]

Bullshit it's not a strategy, Rolex is trying to move up-market and they are brilliant for leveraging the current situation to do so. Raising prices, making AD's add boutiques, etc. They capitalized on an opportunity. Good on them, but lets call it what it is.

[Heater3000]

And yet the grey market thrives!!

[Alpino]

Originally Posted by Dr. Robert

Meanwhile DavidSW has a good inventory

He is one of the most important instigator of this situation ...

[vh2k]

Originally Posted by Alpino

He is one of the most important instigator of this situation ...

Nothing wrong with David and the service he provides. He has practically ZERO impact on the insatiable global demand for Rolex. He’s a small drop in the ocean.

[Chester01]

“Independently manage” the distribution. The AD is not doing a great job of this. The existence of the gray market is all the proof one needs of that.

[77T]

Originally Posted by inadeje

Yahoo Finance? Something tells me that this wasn't from Rolex HQ. The wording seems odd.

I have doubts about the “report” for a different reason.

Pras Subramanian’s story was published at 12:24 PM ET. It has not been updated - which is common if, for example, a writer adds new information after original publication. In italics at the end of the story as it states: Yahoo Finance contacted Rolex for official comment on this story. We received the company's response shortly after publication

If so, how could it be included in the original published version?

Really? C’mon man…

A response after publication means the lack of a Rolex Statement in the body of the story would have been prominent. Something like: Yahoo Finance contacted Rolex for official comment on this story, but has not received one prior to publication.

After all, the writer talked to many who aren’t from Rolex…

Also, it was well after office hours in Geneva - so we know they didn’t stay late all bothered to get back with this “producer”.

Rolex USA you ask? Maybe they did the release?
Not that one - it has the earmarked spelling of certain English words as written by one from Great Britain, or educated in that style.

So I have my doubts.

Plus, for Rolex to make a public statement via a global web platform would merit common carriage on newsroom.Rolex.com.

At the time of this publication, no such press release exists.


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[HiBoost]

Originally Posted by 77T

I have doubts about the “report” for a different reason.

Pras Subramanian’s story was published at 12:24 PM ET. It has not been updated - which is common if, for example, a writer adds new information after original publication. In italics at the end of the story as it states: Yahoo Finance contacted Rolex for official comment on this story. We received the company's response shortly after publication

If so, how could it be included in the original published version?

Really? C’mon man…

A response after publication means the lack of a Rolex Statement in the body of the story would have been prominent. Something like: Yahoo Finance contacted Rolex for official comment on this story, but has not received one prior to publication.

After all, the writer talked to many who aren’t from Rolex…

Also, it was well after office hours in Geneva - so we know they didn’t stay late all bothered to get back with this “producer”.

Rolex USA you ask? Maybe they did the release?
Not that one - it has the earmarked spelling of certain English words as written by one from Great Britain, or educated in that style.

So I have my doubts.

Plus, for Rolex to make a public statement via a global web platform would merit common carriage on newsroom.Rolex.com.

At the time of this publication, no such press release exists.


Sent from my iPhone using Tapatalk Pro

Not sure I'm following you on this. I posted this Yahoo article the other day and at the time it had the text (paraphrasing) "We reached out to Rolex for comment and did not hear back". I almost made a sarcastic comment when I posted the article to the effect of "good luck, you'll be waiting forever". But to my surprise today, the article had been updated and this statement was included. Very likely from Rolex USA, not Geneva, but I don't see any reason to think it was fully fabricated. The idea that a Yahoo reporter would hit on the points that they mentioned seems rather unlikely.

[samuel019]

Well at least it’s something.

Would much rather have read

We at Rolex understand that our long time customers are having difficulty getting watches that they are used to getting. Our demand is at an all time high and low inventory is partly due to back door agreements with some of our authorized dealers and the ever growing social media hype. We will be shutting down those dealers and will no longer be using social media. To further combat this problem we are creating an official wish list specific to the household and give a limit of any 5 watches per year to be delivered to there home straight from Rolex. Payment can be made online at Rolex.com after we verify that they are not a secondary seller and only wanting to flip for profit. Once we confirm by serial number that you have a purchase history via one of our authorized dealers you can expect all of your watches within 12 months. We at Rolex appreciate and value our true watch enthusiasts and look forward to keeping them a part of the Rolex family for many years to come. We find it appalling that they have to fill there wish list via secondary sellers who overcharge which is not in the true spirit of what we set out to do many years ago. To start your list please visit Rolex.com.


Yeah I know. A complete waste of a reply.

[Cwillis0001]

"Assembled by hand?"

[77T]

Originally Posted by HiBoost

Not sure I'm following you on this. I posted this Yahoo article the other day and at the time it had the text (paraphrasing) "We reached out to Rolex for comment and did not hear back". I almost made a sarcastic comment when I posted the article to the effect of "good luck, you'll be waiting forever". But to my surprise today, the article had been updated and this statement was included. Very likely from Rolex USA, not Geneva, but I don't see any reason to think it was fully fabricated. The idea that a Yahoo reporter would hit on the points that they mentioned seems rather unlikely.

Thanks for that - what publication date did it have then?

So based on your real-time experience with the article, it may just be a very poorly skilled author in using a proper update.


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[HiBoost]

Originally Posted by 77T

Thanks for that - what publication date did it have then?

So based on your real-time experience with the article, it may just be a very poorly skilled author in using a proper update.


Sent from my iPhone using Tapatalk Pro

Yeah, it appears their "publication" date is simply their last-edit date. I made this post about the article yesterday:

https://www.rolexforums.com/showthread.php?t=819675

And if I'm not mistaken the original article date I saw when I posted the link was the 4th? It was a couple days old for sure which is why I searched TRF before I posted to make sure nobody else had already posted it. And I originally found the Yahoo article by coming across a Korean news article which cited it (i.e. further proof that the Yahoo one has been around a bit):

https://m.koreatimes.co.kr/pages/art...newsIdx=315125

[dannyp]

Originally Posted by inadeje

Yahoo Finance? Something tells me that this wasn't from Rolex HQ. The wording seems odd.

A statement released as a press release, or "official statement" will read differently from the "official response" to a published news story, in general.

[GMT Aviator]

Originally Posted by Chester01

“Independently manage” the distribution. The AD is not doing a great job of this. The existence of the gray market is all the proof one needs of that.

Very true.

[azizu]

Originally Posted by Cwillis0001

"Assembled by hand?"

Yes, those hands


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[enjoythemusic]

Well said Rolex

[SubMillennial]

Originally Posted by inadeje

Yahoo Finance? Something tells me that this wasn't from Rolex HQ. The wording seems odd.

so now a billion+ dollar company is going to fabricate quotes from another billion+ dollar company, leaving themselves open to a major lawsuit? No way

A lot of people, including some on this board, are going to finally have to reconcile that this theory they've been pushing for years of some grand strategy by rolex to restrict supply as a means of improving the brand or w/e is actually not the case at all, and that Rolex is actually concerned about the watch shortages, and are working albeit slowly to increase production

[Cambo]

If it ain’t broke don’t fix it....their current business model is perfect. Don’t change a thing.

[SubMillennial]

Should be noted that Rolex did NOT dispute the 70% reduction in supply statistic quoted in the article. Not a confirmation, but telling nonetheless.

[Cwillis0001]

Originally Posted by azizu

Yes, those hands


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I'm quite certain that my sub took about 45 minutes of automated labor to produce. Tops.