Some stores of the luxury watch brand Rolex in the country have introduced a 'pre-consultation' system. Previously, customers could purchase products simply by successfully making an online reservation, but now they must wait for Rolex's selection in order to step into the store.
Rolex's policy change seems to aim to prevent resellers—those who purchase products and resell them for profit—from buying. However, during the pre-consultation, customers are asked about their occupation and residence, leading to some criticism that the company is 'selecting' customers.
According to industry sources on the 16th, Rolex operates 11 stores in the country through official dealers. Among them, the Hyundai Department Store Apgujeong flagship store (UnoWatch) and the Shinsegae Department Store main store (Greenwich) have changed their reservation methods.
Rolex is considered an entry-level brand for luxury watches and is also popular for wedding watches. This is the reason why resellers are thriving. Rolex has adjusted its sales methods several times in the past. Initially, the process was a standard queue system. However, as people were unable to obtain products even during 'open runs,' some even camped out since dawn.
As a solution, an online reservation system was introduced. Reservations for a whole month open at midnight the day before the last day of each month. Customers choose available dates and time slots for their reservations and visit the store to select their desired products from the stock that day. However, reports emerged that this method has reached its limitations, as resellers specializing in this area were using macro programs to secure reservation dates.
Among Rolex products, popular models like the Sky-Dweller and GMT have premiums ranging from 5 million to 10 million won. Not only Rolex but also luxury brands like Chanel are struggling due to resellers, as this deprives regular customers of opportunities to purchase at the original price. Less popular products can even be resold at lower prices than the retail price, which could ultimately undermine brand value.
An industry official noted that 'in resale platforms, many products are sold by parallel importers or purchasing agents, and in some cases, they maliciously mix counterfeit products, making it difficult for consumers to distinguish them.' They added, 'The quality of counterfeit products is also improving, which makes the activation of resale platforms a headache for luxury brands.'
In response, UnoWatch and Greenwich, official dealers of Rolex, have introduced new systems. For UnoWatch, when a consumer submits a reservation on the website, the store calls the reserver to confirm the date and time.
However, in this process, they require not only the desired model but also lists of purchases from other stores and brands, as well as residence and occupation. This has sparked criticism, with some questioning whether they are 'selecting' customers based on personal information. Despite having made reservations, some have reported not receiving any contact, leading to speculation that they are indeed screening customers. Nevertheless, reservations have been so overwhelming that UnoWatch is no longer accepting them.
Greenwich's reservation method is slightly different from UnoWatch's. There are no limitations on online reservations or store visits, but customers cannot purchase watches immediately and must fill out a consultation card after discussing with staff. When the desired watch is in stock, the store will then contact the consumer.
This policy change is interpreted as Rolex's strategy to sell products primarily to VIP customers, similar to high-end watch brands like Audemars Piguet. This suggests that customers who have previous purchase records and actually wear the purchased watches will be prioritized. There are also observations that to purchase popular models, it might be necessary to buy several less popular models first.
Luxury companies are attempting various sales policies under the goal of eradicating resellers. However, no clear standards have been revealed that distinguish resellers from regular customers. It remains to be seen whether Rolex's new initiative will successfully put an end to resellers.