David Rosenthal: belief

Transcript context

…And they have a 100-year-old relationship. This was one of the first retail partners for Rolex in the super early days. Actually, this alliance plus the Aegler alliance helped them stay out of the Swiss cartel. In many ways they have Bucherer to thank for their independence and their freedom while the rest of the industry was panicking. They’ve got this tradition. But the question is, everybody jumps to, shouldn’t they own their own retail? They own everything else. Shouldn’t they own their own retail? Why? What are the reasons? Well, there’s control over the buying experience, and to your point, list management. As waitlist management becomes more important, I think that becomes more critical. That’s legitimate. There’s eking out every dollar of margin and there’s getting full visibility into data on customers, which actually is interesting. They don’t get that today. They don’t have their customer’s email address or names or addresses because that data belongs to the authorized dealer. Rolex doesn’t actually know who’s buying their product or who likes their product, which is crazy for a modern company of this scale and size.…

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