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Bartolo

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Not really how that practically plays out.

Your normal retail partners slow down ordering too, there's a bit of a tail, but it is very short, and keep in mind a lot of product is sold on net terms and as a vendor you're an unsecured creditor...
Indeed; for just how long do people think that ADs would buy inventory that isn't moving? The distro channels can only be stuffed but so full.

And remember, AP hasn't taken all of the $ risk by going boutique-only. Many of the boutiques are at least co-owned/JV'ed, e.g. with Material Good.
 

Ebitdaddy

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Indeed; for just how long do people think that ADs would buy inventory that isn't moving? The distro channels can only be stuffed but so full.

And remember, AP hasn't taken all of the $ risk by going boutique-only. Many of the boutiques are at least co-owned/JV'ed, e.g. with Material Good.

Yeah and all that aside, the margin gain is SO worth it. I've done this analysis on a dozen companies now and the math ALWAYS makes sense for brands whose retail partners are glorified order takers leeching margin pts...

These are also old brands likely running with very low amounts of debt given they are family held. Even if things slowed down, it's not the end of the world for them.
 

Bartolo

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Yeah and all that aside, the margin gain is SO worth it. I've done this analysis on a dozen companies now and the math ALWAYS makes sense for brands whose retail partners are glorified order takers leeching margin pts...

These are also old brands likely running with very low amounts of debt given they are family held. Even if things slowed down, it's not the end of the world for them.

The common mantra is, "Just wait until things slow down." When things slow down they'll just make fewer watches and I can virtually guarantee none of their ski chalets or boats will have to be sold off to buy groceries.
 

9thsymph

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Chillin’ back-office-ogre style!
IMG_7716.jpeg
 

Jr Mouse

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Speaking of Tudor, I know that Texas hates that model, but I will buy it as soon as it is released in 36mm (if it’s without the date),
or in 37 mm like the BB54.
View attachment 2140503
Ooops a picture found on the Net 🤷🏻‍♂️

My guess is they fix a lot of the criticisms in the next model. Normal lume, more depth to the dial, etc. it’s not far off from being a winner.
 

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