Bob's Watches CEO talks about Rolex CPO and super-fakes
Paul Altieri, CEO of Bob’s Watches, discusses the evolution of the luxury watch market over the past 15 years, emphasizing the challenges posed by pricing, competition, and technology. He notes the significant shift in the US becoming the dominant market for luxury watches, with over 50% of brands like Rolex now targeting American consumers. The recent tariffs on Swiss watches have also disrupted the market, affecting both supply and pricing strategies. Altieri's company has expanded into airport retail, capitalizing on the growing international luxury travel market, and he reports a steady growth rate of around 20% annually. The secondary market has stabilized, with prices for sought-after models like the Rolex Daytona Panda rising again after finding a floor two years ago. Altieri observes that Rolex's Certified Pre-Owned (CPO) program has validated the pre-owned market, improving consumer trust. However, the rise of “superfakes” has made the importance of purchasing from reputable dealers even more crucial. Looking ahead, Altieri expresses optimism about the market's health and demand, highlighting Bob's Watches' commitment to transparency and customer care as key to sustained growth.
