Swiss watch company breaks ground on Broward HQ expansion ... wonder how this is coming along

roadwarrior

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May 3, 2019,
Invicta Watch Group has broken ground on a headquarters expansion in Hollywood after securing a $10 million construction loan.

Bank Leumi USA awarded the mortgage to 3069 Taft Street LLC, managed by Invicta CEO Eyal Lalo. The loan is guaranteed by Invicta. It covers the 3.44-acre site at 3069 Taft St., which already has a 64,663-square-foot office/warehouse building, where Invicta is housed.

Green & Gold Development recently filed notice with the county that it started construction of a three-story, 20,000-square-foot office expansion for Invicta.

The Invicta brand of watches was founded in Switzerland in 1837. Since taking over the company, Lalo has helped design over 1,500 models. Invicta Watch Group also owns the TechnoMarine, S. Coifman and Glycine Switzerland brands. Invicta has licensing agreements to produce limited edition watches for Disney, Marvel, Star Wars, DC Comics, Warner Brothers and the National Football League.

Officials with Invicta couldn’t be reached for comment.

https://www.bizjournals.com/southfl...tch Group has broken,by Invicta CEO Eyal Lalo.
 

roadwarrior

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I think they should have broke ground in Switzerland instead of producing watches from China.

Technically they do own ground in Switzerland. :hmm:

Founded in 1914 by Swiss watchmaker Eguène Meylan, Glycine continues to produce excellent Swiss watches at its factory in Bienne, Switzerland.


Glycine+Manufacturer.png


https://moneyinc.com/glycine-watches/

Glycine Watches was founded by Swiss watchmaker Arthur Louis Eugène Meylan and founded on May 20, 1914. Meylan’s first workshop and factory
were located :hmm: in Bienne, Switzerland. He was influenced by French, Italian and German watchmakers as well as the Swiss. The company’s original name was Fabrique d’Horlogerie La Glycine. Meylan began training as a watchmaker in 1910 at l’Ecole d’horlogerie attendee,Le Chaux de Fonds. Meylan began his watchmaking business by designing and manufacturing ladies’ wrist watches.


swiss_left_20190821.jpg

tenor.gif


THE SWISS MADE LEGACY


The Invicta Swiss-Made collection is here to raise the standard and elevate time to a new level. Each timepiece adheres to all official ordinances determined by the Federation of the Swiss Watch Industry and includes a custom, identification tag for the Swiss-made label.

Anchored in a distinguished tradition with a heritage defined by excellence, the Swiss timepiece has long been considered the unrivaled foundation of the watchmaking world. In an effort to preserve the reputation of the quality for which the Swiss timepiece has become known, in 2007 the Federation of the Swiss Watch Industry began an initiative to strengthen the 'Swiss Made' label.

The process involved amending the ordinance thereby increasing the specifications that need to be met in order for a timepiece to be considered 'Swiss' or 'Swiss Made'. The new criteria enable the Federation to determine geographical origin of the product or service with greater precision while also ensuring a high value at an aggressive price point.
In January of 2017 the amended ordinance went into full effect.

Imbuing the collection with this Swiss heritage delivers excellence to the present moment while making the essence of time an accessible tradition.
 
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ScottyB

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yeah..shudda been more like E... a box of industrial properties trumps a box of TV watches
 

Bella Dino

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Maybe they should some consideration to paying the rent on their kiosk in Austin. This is posted on the entrance to the kiosk.
e4a18b1bcef617e749cb9c138f8c20c5.jpg

I get that people enjoy these watches but this is one of the most morally reprehensible companies I’ve ever laid my eyes on.

Sent from my iPhone using Tapatalk
 

roadwarrior

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Maybe they should some consideration to paying the rent on their kiosk in Austin. This is posted on the entrance to the kiosk.
e4a18b1bcef617e749cb9c138f8c20c5.jpg

I get that people enjoy these watches but this is one of the most morally reprehensible companies I’ve ever laid my eyes on.

Sent from my iPhone using Tapatalk


I think that's one reason they run these locations as LLC's.

An LLC independent contractor, or 1099 employee, is someone who completes work for a limited liability company but does not meet the definition of an employee. Independent contractors may want to consider forming their own LLCs to give themselves some added protection.

LLC Independent Contractor
What is a limited liability company?
Essentially it means that your exposure is limited to the amount you have invested in the entity and your personal assets are protected. Sole Proprietorship. LLP. LLC. Unlimited liability – Owner are personally accountable for debts and losses.

2020 Invicta Stores is registered as Retailing Enterprises LLC and is the official reseller of Invicta Watch Company of America, Inc. All Rights Reserved.

https://invictastores.com/terms-and-conditions

Felice Torre

Vice President, Retail Stores at Invicta Stores
Hollywood, Florida
Senior retail executive with vast experience growing teams and achieving results.
Senior level retail experience in soft/hard lines and food & beverage companies.
Presently responsible for Invicta Watch Retail's rapid growth in the USA & Puerto Rico.
When in NYC please stop by our FLAGSHIP store in Times Square!

Vice President, Retail Stores
Company NameInvicta Stores
Dates Employed Oct 2012 – Present
Employment Duration7 yrs 11 mos
LocationHollywood, Florida
Oversee the growth of INVICTA branded retail stores and e commerce platform across the United States and Puerto Rico.
Responsible for strategic planning, budgeting, recruiting & staffing, human resources, marketing, loss prevention and sales execution.
Helped open 70 Invicta Watch uni branded retail stores in the USA & Puerto Rico.
Brown Shoe Company
District Sales Manager
Company NameBrown Shoe Company
Dates EmployedApr 2009 – Oct 2012
Employment Duration3 yrs 7 mos
Oversee the operation of 10 Retail footwear stores (Famous Footwear, Famous Footwear Outlet and Naturalizer Concept) in Miami, FL. Responsibilities include but are not limited to meeting/exceeding sales and profit objectives, recruitment, training, employee relations, communication of strategic goals, merchandising, budget analysis/planning, business analysis, loss prevention, and expense

---------------------------------------------
Alex Rangel
Director of Marketing and Merchandising at Invicta Stores
Miami Beach, Florida 500+ connections Contact info

Invicta Stores

Florida International University

Senior professional with years of demonstrated success in overcoming challenges, creating memorable brand experiences, and building marketing strategies. Excellent communicator with the ability to leverage strategic, creative, and business acumen to execute bottom-line gains and build stakeholder trust. A respected leader who drives consensus and improves collaboration to exceed expectations. ---

Invicta Stores
Total Duration2 yrs 1 mo
TitleDirector of Marketing and Merchandising
Dates EmployedAug 2019 – Present
Employment Duration1 yr 1 mo
LocationHollywood, FL
In charge of developing communication, brand, and consumer strategies for all Invicta Stores retail locations and online properties. Manages and executes specific seasonal programs, promotions, marketing initiatives, and merchandising strategies.

https://www.invictastores.eu/general-terms-and-conditions/


General Terms and Conditions Invicta Watch Europe / Double Wood B.V.

Lastly changed on 20-06-2018 13:41.

1. Enterprise data

Under Invicta Stores EU and www.invictastores.eu will be understood:

Double Wood B.V.
Invicta Watch Europe
Kronenburgpark 12
5321 JM Hedel
The Netherlands

VAT number: NL817276324b01
Chamber of Commerce: 27294142

Contact data Customer service:
Phone number: +31 73 5995660
E-mail: [email protected]


Double Wood B.V.
Invicta Watch Europe
Kronenburgpark 12
5321 JM, Hedel , GELDERLAND Netherlands
+31-735995660
www.invictawatch.nlExternal Website. Opens New Window
Company Type: Private Limited Company Independent

Double Wood B.V. is located in Hedel, GELDERLAND, Netherlands and is part of the Wholesale Sector Industry. Double Wood B.V. has 10 employees at this location and generates $1.55 million in sales (USD).

D&B Hoovers provides sales leads and sales intelligence data on over 120 million companies like Double Wood B.V. around the world, including contacts, financials, and competitor information.
 

roadwarrior

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Really isn’t a matter of like or dislike it’s a matter of the fact that they lie constantly and apparently don’t pay their rent.

I'm not condoning companies doing this, but it seems Invicta isn't the only one. I doubt they would have so many stores they rent in prime spots if they had a history of not paying their rent.

Without money coming in from store sales, of chief importance is cash and financial flexibility. ... For retailers, their biggest costs include rent, wages and vendor payments. ... "Retail and retail landlords are looking carefully at their leases," ... "It goes back to having open dialog and communications versus ...
4dff744d4e37b2de19d9691bdad47615.jpg


To pay or not to pay: Retailers are making tough decisions on rent and other bills
https://www.retaildive.com/news/to-...king-tough-decisions-on-rent-and-othe/575474/

The opening salvos have been fired in a "showdown" between tenants and landlords as retailers try to preserve cash amid mass closures.

Last week, Urban Outfitters said publicly what many retailers are discussing in private: that it won't be paying rent. In the middle of a list of financial measures Urban said it was taking while its stores are closed, the apparel seller included the suspension of rent payments.

The retailer followed the Cheesecake Factory in doing so. The restaurant chain said in a regulatory filing that it would not be paying rent on its leases for the month of April. After that first shot, Urban Outfitters joined, followed by PVH (owner of Calvin Klein and Tommy Hilfiger) and bankrupt home goods seller Pier 1. More retailers, whether they announce it publicly or not, are almost certainly planning to skip rent as well.

Landlords, on the other hand, might not see rent as optional, even during a pandemic. In fact, one major retail landlord, Taubman, told tenants that it still expected rent payments, even with most of the operator's malls closed.

Credit Suisse analyst Michael Binetti describes it as an "uncoordinated effort" — a series of decisions made and emergency measures taken on the fly, without upfront approval. "And the landlords are like, 'Whoa! You didn't run that by us,'" Binetti said in an interview.

There is no playbook for what is happening in retail right now, with retailers closing among them tens of thousands of stores as businesses and governments try to slow the spread of COVID-19. Without money coming in from store sales, of chief importance is cash and financial flexibility.

Retailers have been drawing on their credit lines, but they are also taking a hard look at their expenses. For retailers, their biggest costs include rent, wages and vendor payments.

All of those things are likely under a microscope at major retailers. Some have already made painful cuts to staff and wages. Cuts to rent and vendor payments are coming as well. All of it means that the pain will be shared up and down the stakeholder chain.

'Looking carefully at leases'
The size of rent's burden in terms of cash and ranking in the cost structure depends on the specific retailer.

"For the true middle-of-the-mall retailers, it can be 10% to 11% of sales," Binetti said. For brands like Nike and others that also operate stores, it occupies a lower share of their expenses. For department stores, rent is equal to roughly 1.5% of sales, given that many companies in the sector own their own real estate and signed sweetheart deals years ago with mall developers who wanted them as anchors, Binetti said.

Some retailers may see no other choice but to skip rent. They just don't have the funds to pay it in full or are trying to protect their cash positions in light of the uncertainty around when they can re-open their stores and when customers will feel safe to shop at them again.

article continued
 

Bella Dino

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No they are corporate owned . I know it’s pretty hard to believe that they would do something shady like not pay the rent LOL.
 

curiousgeorge

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To be fair even where I live in Mpls Mn. the owners one of the largest malls min the world the Mall of America are way behind on their mortgage to the tune of millions of dollars. Covid is wreaking havoc on all malls and their tenants.
 

Bella Dino

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To be fair even where I live in Mpls Mn. the owners one of the largest malls min the world the Mall of America are way behind on their mortgage to the tune of millions of dollars. Covid is wreaking havoc on all malls and their tenants.
But are said merchants breaking ground on a ten million dollar facility in Florida? My only point is if you can afford to break ground on a $10 million facility should be able to square up with the mall on your rent. I know times are tough I’m a small business owner as well that said I’m also not breaking ground on a giant Showboat facility. It’s really good actually have an honest conversation about this though. This form is refreshing to say the very least as we have no Nazi moderators with an agenda.
 

sota0003

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Yea that is true. Our city here has spent lots of money an things we don't need while the things that are badly needed stay idle. I'll never understand that but I guess big business and gov do it all the time
 

curiousgeorge

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But are said merchants breaking ground on a ten million dollar facility in Florida? My only point is if you can afford to break ground on a $10 million facility should be able to square up with the mall on your rent. I know times are tough I’m a small business owner as well that said I’m also not breaking ground on a giant Showboat facility. It’s really good actually have an honest conversation about this though. This form is refreshing to say the very least as we have no Nazi moderators with an agenda.
I'm no Invicta business practice supporter and am very critical of the brand and it's owner. I will say this once again. One, look at the date of the article in the origin of the thread. It is dated May 3 2019. That is an old article and pre-dates Covid 19 by about 9 to 10 months in the U.S. A lot of stuff has changed in those months. The whole retail business landscape has went into a whole new world since that article was printed. We have no idea how far along the project is since that article was written a year and three months ago. Eyal is not my friend nor do I like the way he conducts business, but that doesn't mean the whole landscape for all retail business's hasn't changed in the year and three months since the origin article of this thread was reported. Old article, new world that was the point I was trying to make, not to defend Lalo. I hope your small business is able to survive this disaster until better days.
 
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