REEDS Jewelers’ Post

Rolex Submariner "Hulk" has a retail price of INR 9.5 lakhs and a secondary market price of INR 15.5 lakhs. Immediate gain of 60 plus percent once you walk out of the boutique after purchasing it! Breathtaking! Similar story for the "Batman" model Source:ET Which other asset/asset classes can one think of which give similar returns (primarily due to wait time/availability issues) as they are out brand new from retails stores?

Qu’ils vendent des Pateks en lignes!? Mais, non. Competition law, in its majestic equality, protects the rich as well as the poor from having to buy their Rolex in-store. Joking aside, Autorité de la concurrence’s € 91 million euro fine on Rolex for prohibiting retailers from selling watches online will be be noticed by all selective distributors in the #luxury industry and beyond. However, I do wonder if the point of competition law is to protect intrabrand competition in online channels for products whose essence and value to consumers is to be expensive and exclusive. If it could be shown that price increases and sales restriction increase sales for certain products, why fight restrictions? Insofar as the Autorité de la concurrence points to an already developed online market for online sales of pre-owned Rolexes, perhaps (dare I say), the better solution would be to restrict consumer resales. As one of Rolex’s competitors advertises: “You never actually own a luxury watch. You merely look after it for the next generation.” #verticalrestraints #competitionlaw Anyways, here is a machine translation of the Rolex decision. Happy reading.

Not the Christmas present ROLEX France was hoping for as a ruling was made requiring them to pay 91.6 million euros ($100m) as a fine for preventing their exclusive partners and distributors from selling on line, and this, over a 10 year period prior to the case with a very restrictive contract. Rolex defended their position as being about maintaining the integrity and image of the brand and avoiding counterfeiting, problems known well to the luxury world. While these arguments were considered acceptable, the Authorities considered that the duration and the application of a complete refusal of any online sales was unreasonable and disproportionate. Hence such a high sum. I recall about 15 years ago the CEO of a major global luxury brand telling me that they had ruled out any presence online for the same reasons Rolex had put forward, until he realised that the level of sales online was well above store sales and so decided to develop an online strategy. At the time they didn't have many stores across Europe. There are other brands being eyed by the Authorities, so clearly there is a need for brands to accept that there are no longer silos for sales or purchases, especially as far as the consumer is concerned. #onlineoffline #luxurybrands #keynotespeaker #globalvoiceofretail CHRIS IGWE INTERNATIONAL

This is the secret that will make it easier for you to sell high-ticket products. But, please, don’t let Gucci know I told it to you. 🤐 . . . #marketinginsights #business #smallbusiness #digitalmarketing #socialmedia #growthmarketing #socialmediamarketing #marketingagency #gucci

Watch out?! Rolex fined by the French NCA. The Autorité considers that the terms of the selective distribution agreement between Rolex France and its retailers constitute a vertical agreement that restricts competition. The Autorité rejected Rolex France’s argument that the ban on online selling was justified by the need to combat counterfeiting and parallel trade. #competition #selectivedistribution #onlinesalesban

🚀🚀France's Competition Authority “The Autorité de la Concurrence” Has Fined Rolex €91,600,000 for restricting its authorized retailers in France from selling Rolex Watches Online 🎯Alleged Violation -The Autorité has stated that the terms of the selective distribution agreement between Rolex France and its retailers constitute a vertical agreement that restricts competition. -The selective distribution agreement regulating relations between Rolex and its retailers prohibited the latter from selling the brand’s watches by mail order and, a fortiori, via the Internet. In a letter to one of its retailers, Rolex acknowledged this ban: “we confirm that under no circumstances can our Authorised Retailers, who are the only parties authorised to sell our products, do so via the Internet or by mail order. Any sales via the Internet contravene the provisions of Article IV.3.b of the Selective Distribution Agreement signed by all our Authorised Retailers.” 🎯Arguments Rolex France’s argument is that the ban on online selling can prevent counterfeiting and parallel trade.  The Autorité gave response that these objectives and arguments presented by Rolex can be achieved by means that are less restrictive of competition. ���As to me, most important thing in this decision is that Autorité evaluated the arguments and, enforceability of the objectives, that Rolex aimed by restricting online sales, in terms of proportionality. 🚀In a nutshell, restriction of online sales is deemed measure of the last resort under this decision. Link: https://lnkd.in/djdGAjNE #CompetitionLaw #Law #Rolex #France #VerticalAgreements #VBER #DMA #DigitalMarketsAct #RekabetHukuku #Rekabet #DigitalPlatforms #Platform #competitionlaw

Rolex adds another gem in its crown as it moves to control distribution of new and certified pre-owned (CPO) Rolex watches. Not a surprise as it follows other watch and luxury brands which already sell through their own networks of boutiques. The timing of this big acquisition is interesting in my view as Swiss watch sales are starting to soften. After years of increases prices in the secondary market for the most in demand models of Audemar Piguet, Patek Philippe and Rolex with year-long waiting lists have already dipped significantly. A proper cyclical downturn would show how reslient watch prices really are and whether top models are still allocated to too many eager buyers or need to be sold. Watch lovers would welcome the return of discounts offered on demand.

Rolex was recently fined $100 million by France's antitrust agency. This penalty comes as a response to Rolex's strategy to restrict distributors from selling their luxury watches online, a practice deemed illegal and contrary to consumer and retailer interests. This case underscores the growing importance and viability of online distribution channels in the luxury goods market, a sector traditionally reliant on physical retail presence. It's a stark reminder of the shifting landscape in marketing and sales, especially for high-end products.

Hilarious Mall Jewelry Store Negotiation: My Funny Encounter Join me in this hilarious story of negotiating with aggressive mall jewelry store salesmen. Watch as I try to get the best deal while avoiding their high prices and tactics. Laugh along as I share my experience with you. #FunnyMallStory #JewelryStoreNegotiation #HilariousEncounter #MallShopping #FunnyShoppingExperience #BargainHunting #HumorousStory #MallShoppingTips #JewelryShopping #FunnyNegotiation

This acquisition promises to be one of the most interesting ones this year for me: mix M&A and Watches, and I am immediately intrigued. I’m curious what this will mean for their other authorized dealers, especially their smaller ones. Up to now, Rolex has been an outlier in an industry that was consolidating and focused on controlling its points of sale. That will now change. However, in my opinion, it will strengthen the independent movement. As authorized dealers lose access to major established brands, their focus, by necessity, will turn to expanding the distribution ofsmaller independent brands. #RiseOfTheIndependents #NovelaWatch