Spot on

Aug 08, 2023,20:51 PM
 

Well put, I completely agree with you.

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A Different Perspective: Multi-brand VS Mono-brand Stores...

 
 By: patrick_y : August 8th, 2023-20:08
A lot of people have opinions. And a lot of people think their opinion is right. But these people often don't consider other perspectives and the valid opinions of those perspectives. Thus, this post is designed to help build some empathy for the industry...  

Journe and Lange boutiques in Tokyo are by appointment only

 
 By: piccolochimico (aka dsgalaxy1) : August 8th, 2023-20:39
That's just the example of the Gaussian edge, which reflects the trends for few brands only. The mono brand store is the way to maximize the profit, no more discounts for anyone. Everything has been erased, as well as many ADs. The new policy for many bra... 

Spot on

 
 By: Krinck : August 8th, 2023-20:51
Well put, I completely agree with you.

Hmm... Let me make a suggestion...

 
 By: patrick_y : August 9th, 2023-04:45
You've indicated that you agree with piccolochimico (aka dsgalaxy1). Would you agree that both Mono-brand stores AND multi-brand stores force you to buy things you don't want in order to get the hard-to-get models? Because they certainly do, that's a cold... 

GMT is a fantastic store with some great brands and the family behind are great people who have been selling watches for generations.

 
 By: ChristianDK : August 8th, 2023-21:11
Working with he big groups they’ve moved on to the independents, including FP Journe, where they enjoy well deserved recognition.

My expectations are simple...

 
 By: patrick_y : August 9th, 2023-04:37
My expectations are simple. When I go into an establishment, I expect the people who work there be to be true professionals. Meaning they should know more about the product than a well informed consumer. Now, I realize I'm not the average well-informed co... 

According to you theory

 
 By: piccolochimico (aka dsgalaxy1) : August 9th, 2023-04:48
RO, Nautilus, GMT and other models are just like stock options, gold, bitcoin, etc. Ever since did the brands start to underline or mention the street price? It means that the values (not the commercial one), the history, the finishing, the bla bla bull##... 

Most respectfully, how did you arrive that this is my theory?

 
 By: patrick_y : August 9th, 2023-05:11
What is your basis for saying that I have this theory you speak of? How did I say a Nautilus watch is like a stock option? Where is this coming from?

What do people want?

 
 By: piccolochimico (aka dsgalaxy1) : August 9th, 2023-05:44
Those sought after. The more you buy from the boutique, the higher the chance to get what you want, but that's the normal relationship between a buyer and a seller. Some brands have waiting lists, others just care of your past and decide accordingly.

I enjoy the more focused, higher knowledge location provided they also have a very good selection to see / try on.

 
 By: enjoythemusic : August 8th, 2023-20:49
Also, imho they MUST have at least one watchmaker on-premise plus a good inventory of various (common) parts.

I am borrowing my wife's perspective

 
 By: jim_94104 : August 8th, 2023-21:18
since she definitely has more retail experience than me. "If I am spending the Birkin money, I want that unique Hermes biutique atmosphere". The shallow me just want to be pampered and treated like Royalty for a few minutes while I purchase that AP. That'... 

Uhh... I adore our member piccolochimico, but I very respectfully disagree with his comment.

 
 By: patrick_y : August 9th, 2023-04:43
You indicated you COMPLETELY AGREE with his comment. But I don't think you fully appreciated every aspect. I'll just raise one aspect... Piccolo implies that Mono-brand stores force you to buy things you don't want to get the watch you do want. Okay, I ag... 

Pampering is not the same as product knowledge.

 
 By: patrick_y : August 9th, 2023-05:09
Jim_94104, you're coming at this from your perspective. Which is a valid one. But you also need to come at it from a watch-company perspective; and that company wants to provide you with not just a pampering experience, but also one with a lot of product ... 

wow

 
 By: jim_94104 : August 9th, 2023-07:21
thank you for the lecture

You're most welcome.

 
 By: patrick_y : August 9th, 2023-15:59
I didn't mean it to come as a lecture, just trying to show you there are multiple ways to look at it. It's just about different perspectives. We always come from a consumer perspective based on OUR UNIQUE CONSUMER NEEDS and WANTS. But we often forget that... 

I am biased like anyone else

 
 By: piccolochimico (aka dsgalaxy1) : August 9th, 2023-16:04
Having spoken with multiple CEOs and collectors, I've assembled a few perspectives, most consumers often don't see things from the perspective . 1a. Majority Collectors' Perspective: we like multi-branded stores as the store; for instance a store that sel... 

With the utmost respect to you, I really like your post, but I can only partially agree...

 
 By: patrick_y : August 9th, 2023-19:39
I'm sure you talk to many CEOs and collectors at every level. I talk to collectors at every level too and at all different levels of income. But when you talk to CEOs, you're not asking the same kinds of questions that we journalists are asking. And also,... 

Thank you for your explanations!👍

 
 By: piccolochimico (aka dsgalaxy1) : August 9th, 2023-19:43

Point 3a

 
 By: cazalea : August 8th, 2023-22:41
Today in the Wall Street Journal an article made the point that their franchise stores should be upgrading their dining rooms - new tables and benches, better wall surfaces, nicer floors. The store operators are pushing back - pointing out that only 14% o... 

Feldmar is definitely an institution in LA.

 
 By: patrick_y : August 9th, 2023-18:29
And I'd say Feldmar does a reasonable job. Although I feel that with the GP Casquette launch, their communication to me about the watch I ordered was really poor - or nonexistent. Then again, there was an influx of dozens of requests that day. So they pro... 

I'm agnostic on the issue and can opine solely based on personal experience.

 
 By: Uncle Chico : August 9th, 2023-07:51
I do my own research before making a purchase. With the wealth of information available online, in journals and from friends, I generally do not need an expert level advisor when considering a purchase. I do enjoy chatting with a knowledgable sales repres... 

Yes. You're thinking from a "very experienced collector perspective" which is great...

 
 By: patrick_y : August 9th, 2023-18:44
... But at the same time, corporations don't always see it from this one sole perspective. You and I might always know more than the sales person knows about watches. But let's say a more normal consumer. A wealthy individual who doesn't own a nice watch,... 

Good summary, but doesn't the Internet with info and online sales change the traditional equation?

 
 By: SchmidtSol : August 9th, 2023-12:11
Thanks for this good insight, I agree with to a large extent. The only question is whether the Internet with its vast options of information and online purchase does not change the equation and trigger some changes over time. The in-demand brands facing a... 

It does to some extent...

 
 By: patrick_y : August 9th, 2023-19:09
The internet does change a lot of the equation. But on average, big ticket items are not purchased online in large quantities. HOWEVER, let's say you live in Arkansas, let's say you're moderately wealthy, a doctor in Arkansas (a province in USA). You stil... 

There is a third option: brand boutiques run by multi-brand dealers

 
 By: MrkK : August 9th, 2023-14:49
On the US West Coast, I have noticed that individual boutiques managed by a brand are sometimes being replaced by ones managed by an AD. They are still presented as brand boutiques and occupy separate areas within a larger AD space. In Las Vegas, for inst... 

Yes. There are two types of boutiques...

 
 By: patrick_y : August 9th, 2023-18:38
Two types of boutiques; they can be completely corporate owned and operated, and they can be co-managed with a local partner. For instance, the one that you're probably referring to, is probably operated by LV Luxury, a company that operates multiple watc... 

Meanwhile, in Los Angeles...

 
 By: India Whiskey Charlie : August 9th, 2023-17:10
Rolex Is Opening Two Massive Showrooms in Los Angeles Next Year

Indeed!

 
 By: patrick_y : August 9th, 2023-18:38
15,000 square feet! Massive! A temple to Rolex!

A few recent experiences, all within the last year or so:

 
 By: Henke : August 9th, 2023-22:21
Boutiques: Omega boutique - lots of stock from the latest releases, and amazing staff - the store manager who was a watch enthusiast and ended up talking about about her partner's new Christopher Ward - which is a nice demonstration for empathetic selling... 

That is true! Does depend a lot on the store!

 
 By: patrick_y : August 10th, 2023-00:18
You bring up a good point, the salespeople are biased towards whatever they have in stock! Right! That's totally true! Thank you for sharing your thoughts. There are definitely strengths with each method. But overall, I would say the strongest method is t... 

Thanks Patrick for starting a thought provoking

 
 By: Darron : August 10th, 2023-18:28
thread. I appreciate the business aspects; because in the end most larger Watch brands that are owned by conglomerates seemed to focus on profit more. I am not saying they that the mono store is solely profit based, your points about risk and controlling ... 

A great post Darrony!

 
 By: patrick_y : August 10th, 2023-19:06
15 years ago? I'd say SS ND Submariner Rolexes were still mostly readily available as early as 5 years ago. But don't worry too much! If you're not dying to own one, then you can forgo it! 15 years ago, that would mean the Baron and Leeds Rolex boutique a... 

Thanks Patrick_y , would love to see the Lange

 
 By: Darron : August 11th, 2023-01:49
curriculum 😀. I think the timing is about right; not saying I have been trying for 15 years to get an ND sub; that would be sad 😀; just saying at that particular time of my life, when I was offered I didn’t take advantage of it and wasn’t “ready”. Thank g... 

Indeed. No big regrets there!

 
 By: patrick_y : August 11th, 2023-04:32
I mean, even a nice Omega Moonwatch is interesting. Yes, Omega might be interpreted as lower in hierarchy than Rolex, and the Omega Speedmaster might be second to the Rolex Daytona... But when you're from the top looking down, they're both about the same.... 

While we digress; the moon watch

 
 By: Darron : August 11th, 2023-05:27
Was the rite of passage watch to many. 😀

I'm weird...

 
 By: patrick_y : August 11th, 2023-05:42
I started at the high end and I'm now exploring the lower end. So I went in the reverse direction!

Many interesting and different thoughts…

 
 By: MTR : August 11th, 2023-21:46
I think there are no “right” and “wrong” answers here. I personally can hardly imagine that a brand would have its own store and not focus on (more) profit. Personally, I prefer multi-brand stores. Because I love comparing watches from different manufactu... 

Absolutely, there is no right or wrong answer here...

 
 By: patrick_y : August 12th, 2023-02:45
There are a plethora of different answers to this, and generally as long as the reasoning behind them is sound, it's a valid answer/opinion. But let's say certain brands that aren't to be compared with other brands... Maybe they deserve their own boutique... 

You might laugh…

 
 By: MTR : August 12th, 2023-09:23
But once I was searching for a very „special“ unique PC. In the shortlist there was an amazing Blancpain with enamel dial, a very nice Patek with a stunning blue dial and a breathtaking Moser Purity. I tried and compared them in every aspect. And finally ... 

That's an amazing store to have all three under one roof!

 
 By: patrick_y : August 12th, 2023-16:38
They're all very nice PCs. That PURITY is super discreet. One wouldn't know it's a perpetual unless they looked very closely at the dial and figured out that there were hidden indicators on the back side.

It’s Bucherer in Vienna.

 
 By: MTR : August 12th, 2023-20:34
The PC Purity Line of Moser was limited to 50 pieces, in a bigger case (42mm) and with a very reduced design. Most of the indicators are on the front side. Best Thomas ...  

Ahhh! I've been in there!

 
 By: patrick_y : August 13th, 2023-01:51
Vienna also has one of the best fountain pen stores in the world too. Not to mention some amazing performing arts too! What a place! Glad the Bucherer is taking good care of you!