Edge168n

JC
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Recent posts

The Morgan Stanley Report: An Equity Analyst's Take

https://professionalwatches.com/morgan-stanleys-top-20-swiss-watch-company-ranking-for-2024/ This has been reposted many times here but I thought you...
100

Watches in the Wild: Inflight Magazine Edition

Disclaimer: It's a chronograph? This is going to be a slightly different sort of #watchesinthewild not the least because this is about some watches th...
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Watches in the Wild (Enter the Dragon, Volume 57)

Disclaimer: Fooooormex. This is the fifty seventh in a semi-regular digest of cool watches I happened to see this week. Past posts in this series have...
27

Recent Comments

commented on The Morgan Stanley Report: An Equity Analyst's Take ·

Love this analysis. I will only add a couple thoughts.

JLC suffers from the fact that it's one watch is a dress watch (when these are somewhat out of fashion). The average revenue per watch is pretty low ($8k at retail) which implies a large percentage of those reversos are probably women's models given how high the JLC catalog goes.

Tudor hiked its prices and is coming off the high of the bb58 killer app. Additionally no small number of people bought a 58 because they actually wanted a Sub and now as supplies loosen, they're probably flipping them now. I'm surprised they didn't lose more share.

commented on The Morgan Stanley Report: An Equity Analyst's Take ·

Yeah, I am with you. As an enthusiast, I really want Omega to be better. Omega being better is better for the industry. It forces Rolex and Cartier and everyone else to up their game.

But just calling the game like I see it...Omega is limping and it seems like they lack the managerial and operational talent to succeed against better run and more well resourced competitors at this point. Their sensitivity to any sort of criticism suggests that this is not going to improve any time soon.

commented on The Morgan Stanley Report: An Equity Analyst's Take ·

I disagree with most of your points.

I think the appointment of Freddy Arnault to the head of LVMH watches suggests that they are going to put plenty of resources behind it. Will it be Zenith? Who knows but it's going to be something and Omega is the gazelle that's limping along with a gimpy leg. It's where I would attack.

It goes without saying but I deeply hope Omega gets better at being a watch company. Right now, I am not invested in or betting against any of these companies or their competitors (which is why I freely talk about them) so I want a vibrant design eco system as an enthusiast.

But the analyst in me is deeply bearish on Omega's ability to execute on it because they've done a lousy job to date and very evidently are so sensitive to outside critique that it seems unlikely that they will accept even good outside counsel to rectify the real problems.

We will see though! One man's semi informed opinion.

commented on The Morgan Stanley Report: An Equity Analyst's Take ·

You are correct of course, I was over making the point but I think the larger comment on the bizarre way that Omega prices stands. These are two closely related movements and yet they price the ostensibly more capable watch at a discount (and yes the 8900 has a jump hour, not a quick date).

I think it speaks to the general confusion in Omega's catalog where they introduce new movements and capabilities but don't really explain why anyone should care about a lot of this stuff.

commented on The Morgan Stanley Report: An Equity Analyst's Take ·

Lol to everything you said except the Longines comment which I have a longer response.

Longines is trying to become Tudor with heavy reliance on vintage reimagining. I don't really know why because I think they've got a better history and more unique (read not Rolex) design identity. But they do it in a way that absolutely undercuts Omega so it's unclear what the grand strategy for Swatch actually is.

So you get Omegas on the grey market that are maybe a couple hundred dollars more expensive than Longines retail and no price differentiation in the catalog.

commented on The Morgan Stanley Report: An Equity Analyst's Take ·

The ravings of a madman to be certain!

commented on The Morgan Stanley Report: An Equity Analyst's Take ·

The Aqua Terra bracelet (and really any Omega bracelet) just doesn't taper enough for my tastes. No taper, no micro adjust, too big, too bulky.....it all adds up to a certain level of annoyance I can't over come.

But the strap is lovely! Do that!

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