Since the 1st May, Omega have amended their retail prices quite significantly. Here are some examples: Seamaster Planet Ocean Ref. 215.30.44.21.01.001 Was: $9,250 Now:$9,900 Omega Speedmaster Professional Moonwatch Ref. 311.30.42.30.01.006 Was: $8,325 Now: $8,925 Omega Speedmaster Mark II Co-Axial Chronograph Ref. 327.10.43.50.06.001 Was: $8,000 Now: $8,600 https://mailchi.mp/0ae4e8768e68/iqrxcxkzd5-2728580?e=d6246f926f
Ballsy move increasing your prices during potentially the toughest economic and employment circumstances in many generations.
Same same in Switzerland... Hopefully the way you guys deal with covid-19 will reflect in fx-rate very soon
I just checked the official Omega.ch website and could see no difference, at least on the models I am familiar with.
Guess, I am not so familiar with English after all, with retail do you mean "Fachhandel", so in the shops?
That is my impression also. I still believe our prices in Switzerland remain stable, even though kov's comment got me curious. And with this worldwide corona situation still going on, who knows how the exchange rates are going to develop in the next months.
Posted this yesterday in another thread: Bumping this thread to see if UK prices have risen again in May. In Canada we have just seen hikes of between 200-300.00 across the Speedmaster and Seamaster lines. Seamaster Pro Diver 300s on bracelet are up to 6750.00 (+250.00) and 6350.00 on the rubber strap (+250.00), while the Pro is now +300.00 and the FOIS takes the Pro's old spot at CAD 6200.00 (+250.00). Surprised not surprised, I guess. Are these increases being seen in other markets also?
Nothing for USA for now... Still $5,350.00 for your standard Speedy Pro. (There was a $100 increase that happened a few months back)
The RRP in Switzerland in 2017 for the hesalite Speedmaster was CHF 4,700, now it is CHF 4,950, that's 1.74% a year increase, just keeping up with inflation. All other markets have the inflation, exchange rate changes, and overall strength/weakness of any particular market included in the overall change in price. I don't read much into the fact that prices are increasing during the pandemic, the pandemic will pass and business will go on, companies have to think long term. They are probably calculating that luxury goods will come back strongly once the coast is clear.
A lot of people have been affected by what's happening but also a lot of people haven't. There's the vast majority of office workers who are still doing their jobs just from home etc. Some luxury goods companies are probably banking on being able to do price increases at this time because when people can go out again like normal those who are still inside working may want to buy items like this for themselves since they've had so much built up money and nowhere to go spend it.
I don't know too many people who are at home building up money. Many of them are wondering if they will still have a job is 6 months or how they will pay their mortgage/rent etc......but Omega must feel pretty confident, good for them
Every time a seemingly existential event happens (1987 crash (24% in one day), 9/11, 2008 meltdown), the consensus is "we are in uncharted territory and things will never be the same again". This Covid thing will pass and will be a blip in history. Successful companies aren't going to panic, rather they set themselves up for the future. Don't take it personally.
I agree, and won’t take it personally. I just thought the right thing to do, maybe, from a PR angle would have been to hold off on the price rise for a couple of months. But you’re right, they are a successful company and they have their priorities
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