Massive Layoffs at Hodinkee!
LVMH-backed luxury watch site hodinkee cuts a fifth of jobs
Hodinkee, an online watch retailer and news site backed by Bernard Arnault’s LVMH Luxury Ventures, is cutting almost 20% of its staff as prices for pre-owned timepieces slump.
ww.fashionnetwork.com
Just ran across this article and I was unaware that Hodinkee has cut 20% of their staff. Fed has a pretty interesting take on it in his new thoughts video. https://www.youtube.com/watch?v=dLOOsjPjWw8
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Matthew(formerlyDigitalDivider)
LúmëgaudAnar is the correct spelling, and means time machine of the sun in Quenya. I've been collecting for a few years and have a decent collection of mostly budget and entry-level watches with a few...
Michigan City, IN, USA
Member since
Last active: 41 secs ago
7.50” / 19.05 cm
It's just a correction in the market to return to their base audience wants and needs. Dying branches need to be pruned to keep the tree alive.
It's just a correction in the market to return to their base audience wants and needs. Dying branches need to be pruned to keep the tree alive.
That was my impression; the layoffs are part of an internal reorganization/restructure.
Is THAT why their pre-owned selection is massively overpriced?
Pre-owned prices tanking. They won’t be the last.
Not to brag, but I predicted this in one of my videos. I analyzed the grey market and realized that their unrealistic margins were under pressure. Easy to see that lay offs were coming. I'm predicting that no grey dealer will escape unscathed. Many of the fly by night operations are clearly going defunct.
So Hodinkee bought Crown & Caliber at the height of the market.
Im glad the video brought it up because the one thing that drives me nuts about the editorial work lately is the lack of anyone saying anything negative. All watches are great. Eveything is rainbows. It’s nonsense. We come to you to hear which watches are best for which people.
LVMH money killed them. Cause they needed to continue growing at a crazy pace which isn’t reality. Fratello has better and more constructive writing and worn and wound has continued to grow at a good pace because of the watch fairs and staying true to their audience.
Im glad the video brought it up because the one thing that drives me nuts about the editorial work lately is the lack of anyone saying anything negative. All watches are great. Eveything is rainbows. It’s nonsense. We come to you to hear which watches are best for which people.
LVMH money killed them. Cause they needed to continue growing at a crazy pace which isn’t reality. Fratello has better and more constructive writing and worn and wound has continued to grow at a good pace because of the watch fairs and staying true to their audience.
Amen, sycophancy is a pox on any fandom and antithetical to reality.
Im glad the video brought it up because the one thing that drives me nuts about the editorial work lately is the lack of anyone saying anything negative. All watches are great. Eveything is rainbows. It’s nonsense. We come to you to hear which watches are best for which people.
LVMH money killed them. Cause they needed to continue growing at a crazy pace which isn’t reality. Fratello has better and more constructive writing and worn and wound has continued to grow at a good pace because of the watch fairs and staying true to their audience.
Well put! Hard to take their reviews without a big grain of salt. If every review is glowing and ends with a link to their shop they must not think much about their audience. Also, their high horse approach to comment moderation rubbed me the wrong way. I used to be a fan of Hodinkee but have long since uninstalled the app and visit their site about every other week or so.
It's a shame what hodinkee has become. We all remember the early days when it was a great resource for information, especially on vintage watches. As purely a watch blog site. They should have just stuck to selling vintage watches and nothing else and never became an authorized dealer. just sold vintage watches. I remember I would go on the website all the time to see what they had because usually they're watches are very well researched and would also be a great database. So unfortunate.