|
|
| Welcome to 3T! Please take the time to register and join in on the friendly,knowledgeable watch talk.Please note that not all registrations will receive an immediate activation e-mail.Those who do not receive an immediate notification will be activated manually within 48hrs. by an admin. without an e-mail activation url sent to you,you may then sign in using your username and password,if you feel there is a problem please e-mail us at timetechtalk@hotmail.com and include your name and username and we activate your account.Thank You! |
| Moderated by: 3T |
|
||||||||||||||
| Rolex Chief Patrick Heiniger Resigns After 16 Years | Rate Topic |
| Author | Post |
|---|
| Posted: Thu Dec 18th, 2008 12:59 am |
|
1st Post |
|
oagaspar Site Founder 
|
this is the latest report as of Dec.17,2008 “Him stepping down at this time does seem slightly odd given that the watch industry is in for a tough time,” said Jon Cox, an analyst who covers watches at Kepler Capital Markets in Zurich http://www.bloomberg.com/apps/news?pid=20601087&sid=aVcpPWU22T08&refer=home
|
||||||||||||||
| |||||||||||||||
| Posted: Thu Dec 18th, 2008 11:41 am |
|
2nd Post |
|
SHADY 3T WIS 
|
oagaspar wrote:
Oscar, Note to Update Resume....
|
|||||||||||||
| ||||||||||||||
| Posted: Sat Dec 20th, 2008 10:23 am |
|
3rd Post |
|
oagaspar Site Founder
|
I think even more than the CEO of Rolex stepping down is the news of the watch industry heading for tough times....prices are going to soar in the coming year for anyone wanting a quality watch imo and that is pretty noticeable now coyote2.gif
|
||||||||||||||
| |||||||||||||||
| Posted: Sat Dec 20th, 2008 03:43 pm |
|
4th Post |
|
goldengrr 3T WIS 
|
I think it will be hard for luxury goods retailers and manufacturers, and I would include watches here, to sustain an upward price trend in 2009. Price is an intersection of supply and demand. A lot of people in the US and across the world, even the ultra rich and high net worth sectors, have been severely impacted by slowing economies. Falling oil and commodity prices, downdrafts in the financial sector and tightening of formerly easy credit are just several factors. Here in the microcosm that is NYC and the metropolitan area, the crazy bonus money of years past has been severely cut back. Down 50% is the new flat. Bling and flashy are out. "And demand for luxury goods is expected to drop by 3 to 7 percent next year (2009), according to a recent study by Bain & Company, the first time the sector has recorded an annual sales decrease since Bain began tracking it in the early 1990s." This from an article on Nov 14 2008 in the Wall Street Journal- "With even the biggest spenders starting to scrimp, luxury companies from Chanel S.A. to Versace SpA, Christian Louboutin and Chloé are reversing the industry's maxim that luxury prices only move up. The cuts range from 8% to 10% on most products sold in the U.S." UHR is the stock symbol for Swatch, representing 19 watch brands. Share price is down 55% in 1 year. Yes, consistent with overall market declines LMVUY is the symbol for LVMH, which encompasses 50 luxury brands, shares trading in the US. Down 65% Anyhow, something's gotta give... Just my 2 cents worth... Last edited on Sat Dec 20th, 2008 04:04 pm by goldengrr |
|||||||||||||
| ||||||||||||||
| Posted: Sat Dec 20th, 2008 11:13 pm |
|
5th Post |
|
Quo temp eres 3T WIS 
|
I'm not surprised really. The Swiss are not in tune at all with the US Market. They think the US is NYC, LA, and Miami from coast to coast. Unless they take some time and understand that middle America is not the coasts, theyll never have the US success they are looking for. It doesn;t help that everybody wants to be Rolex!! I mean come on, it wasn't long ago that $3000 would get you really nice Omega, and $1500 would get you a really nice TAG...try looking for that today. Pretty tough to crack Cleveland, St. Louis, Topeka, etc at those prices. I love my Swiss watches, but let's face it, there are not enough WIS' for them to do well in eternum. I say, bring on the Japanese and Chinese autos and quartz movt. I think you;'ll start seeibng more and more of these. Look at that new Bulova line up!! Nice stuff. QTE~
|
||||||||||||||
| |||||||||||||||
| Posted: Sun Dec 21st, 2008 07:39 am |
|
6th Post |
|
Tyreman 3T WIS
|
Other than speculation who knows really why he is stepping down.Hes been there for a bit. Having owned a couple Rolex stainless steel date subs in the 90's after I got them always wondered why I paid so much for those watches. Thou they are VERY tough and durable, make no mistake.:D Well one of mine was....more so than the other one.:( Sidenote: Most people in Canada just laugh at you(I've had it happen lots) if you have decent timepiece. they plainly think you are nuts especially in factories:P
|
|||||||||||||
| ||||||||||||||
| Posted: Mon Dec 22nd, 2008 09:53 am |
|
7th Post |
|
Upside 3T WIS 
|
I'm going to back up Tyre here and agree. Around these parts the average person just doesn't "get it". Those that due are more interested in collecting and restoring vintage and antique timepieces then acquiring a new luxury timepiece. Yes they've all got one Rolex and one Omega but that's it. Then they're back to pocket watches or marine chronometers and the like. Those are the serious horology folk I talk to anyways. The other buyers are the boardroom types that go in for prestige and have no idea what's 'under the hood'.
|
||||||||||||||
| |||||||||||||||
| Current time is 11:47 pm | |
| TimeTechTalk.com > Time Tech Talk > Time Talk > Rolex Chief Patrick Heiniger Resigns After 16 Years | Top |
