Independents

chap
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I agree w EuroAsianStar

The used LF market is flooded with ugly dials, 50% off retail, and too many models. This is the simple litnus test that they are "off" from the collector loved trajectory they started on, and needs to be righted for their long term success. It used to not be this way when they basically had 2 things going - the Galet (sure, with upgraded tourb option), and square. Both incredible incredible watches. Great iconic cases, movements, perfect looks. They had watch nerd respect, free press, and were basically doing the job of modernizing the Patek ethos in a brilliant way.
Then they made the mistake many product companies go down - that more is more. More dials, more models that nobody is asking for (the rectangle, the annual calendar), and instead of putting their weight behind pushing a couple things to cut through the market, "cross the chasm" from watch ubergeek, to "guy in the know," they now have product bloat, lost their fanboys, and are stuck with supply outstripping demand. And nobody wants to eat in an empty restaurant.
The crazy thing is that they have the best cases (galet & square), best dial potential (sector, enamel, breguets, 3 piece brushed, ice blue, salmon), but they need to stop pushing schlock on the market and realize that the best and only metric that really matters, is that their Used Market supply is lower than their demand, and used prices are near retail. I'm talking about getting to a spot where there are only 3 LFs for sale, that they all look great, and they sell quickly. Then the new market starts moving again, and the brand is back on a trajectory they deserve. I really resonate with the old brand ethos and what they stood for. I'd seriously google newest LF posts across the internet daily to see any updates on them. I stalked a guy on instagram and convinced him to sell me his vintage america sector dial. Like, the brand is capable of getting a cult following - but they are now off that path.
So what would I do if I were CEO to turn them around.
1) Publicly apologize to Ku, and reach out to him to see if there's a way you can make this right. They re-released his piece unique Only Watch with a lug change. Thats just not right. Buy it back, give it to him (if he wants it), or offer to make him something to an actual piece unique spec. He's been a solid ambassador, spec'd an enamel Tourb for goodness sake, and bought the most iconic LF to date (the sector dial only watch piece) that put you all on the map. Take care of your people that love you! Apologize to everyone for not being painfully straightforward on the movement issue / relationship with Fabrique du Temps. Make it a page on your site that plainly explains everything. Don't make it some marketing video, make it real and take us inside along with you. I didn't think you were that bad in this whole debacle, but there can simply be zero fudging in this whole thing or people don't trust you. Do the same for your relationship with Donze Cadrans on the dial side. Tell us and show us what you do in house, and what you get from other specialists. Its all good - just be honest, and no marketing-speak. Publicly apologize for other slight variation LEs you've done, and then set guidelines for moving forward, so people know what to expect from you in the future.
2) Pick like 3 iconic looks (which you actually have!) and stay with them... Make them premium spec'd dials (which you actually have access to!). Do 3 things you can get behind, do the premium dial things collectors want (Breguets, 3 piece, enamel, sector, those light blue watches are great, salmon is great) and drop the other bloated products like that rectangle and annual. Don't release ugly stuff.
3) Actually buy back all the 50% off watches on the used market, re-dial them with this gorgeous stuff we're talking about, and re-sell them, disclosing what you did. Even create a program so people can upgrade their dials if they want. And then in the future - the used market is the indicator of how well you're doing. Once used creeps back towards new prices, and there's only a few - you're back to validated. Reduce your production until this point, and do a trade-in dial program - don't charge $5k for breguet upcharge. Be fair and real with your "trade in" prices, and even go out of your way to be consumer sided on this, you want your fans to feel a win, and to impart really good vibes back in the market, as part of the new you.
4) Make your marketing real, and behind the scenes access oriented. Its ok to shoot on iPhones, and show imperfect videos. Its ok for us to meet your quirky case assembler and know their name, and check in with them from time to time. Its ok to have a little fun. We actually like all that stuff, and are sick of polished marketing. Stop telling the LeMans story at every chance you get. We get it. The overarching point is to have your product so good, so in demand, so craveworthy by watchgeeks first, and early adopters second, and to have real, interesting stories that people can follow along with, because you're on a noble mission - so that other people tell stories about you - that they do your marketing for you because your product is that irresistable (as opposed to you telling stories nobody wants to hear through polished marketing that we just mute).
5) The new square sports watch is cool. You're likely making a micro rotor version with full bracelet. If you're not - you should do that, and make it more of a gentleman's version (no orange etc). You're welcome to reach out as I have a brushed bracelet design I'll give you. You should also make a bracelet that you sell to square owners, that turns their square into a sports watch. $10k should be the pricepoint for steel. Also while we're at it, release a 7 row big beads of rice bracelet in steel and precious metals to sell a la carte. Oooh, those would kill - would have vibes of that salmon pink gold 1518 on bracelet... Its ok if you have wellendorf or someone make it for you, but, just in general, those would be sensational. Don't sell them for more than 25k platinum, $20k gold.
We love you. We want you back. The current thing isn't working, but also, nobody has the potential you all do.
If someone from LF wants to reach out, PM me, I'm your biggest fan and I'd be happy to help...

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