The Hour Glass

[weijian]

It seems that THG has not signed up on Rolex's CPO scheme, which is surprising. 

If it had, it would be too significant a move for it not to be mentioned in Henry Tay's chairman statement.

Hazarding a guess, it may also show that Rolex is gentleman enough to not strong-arm their ADs to join its CPO scheme.

Illustrating the brand’s careful and long-term approach is its rollout of its certified pre-owned programme across the world that was inaugurated in Switzerland and is gradually expanding to the United States, Europe, the Middle East, and eventually, Asia. On its face, the Rolex certified pre-owned programme appears to lack short-term financial incentives for authorised retailers, but the long-term strategy can be
discerned. It appears to be a way for Rolex to weed out the less credible secondary market actors and though likely to be a project that will take many years to bear fruit, this is the Rolex way.

The above is an excerpt from AR23 wrt Rolex CPO. It suggests the CPO program hasn't come to Asia. It is probably going to be a slow roll-out with tweaks along the way as the actual implementation surfaces out all the kinks. We can assume that by the time it reaches Asia, it will be good enough and from a business perspective, you want everyone to sign up for it because you have to manage your suppliers/customers all in the same way, the Rolex way. I don't think ADs have a choice. When Rolex says so, the ADs does so.