Fashion giant sells exclusive watch at never seen price

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FASHION | BEAUTY
A court has ordered the liquidation of inventory at a company in the fashion and luxury watch sector; watches of the famous Rolex brand are being sold for less than £60 as an emergency measure.
Last Monday, the National Treasury Attorney's Office ordered that the assets of the company Le Parc Horologie – which has accumulated millions in tax and labor debts – be liquidated. The revenue generated will help cover the cost of the debts that caused the hole in public coffers.
By Paul Gerard, G7 - London
17/06/2023 09:03 AM · Updated 2 hours ago
In the United Kingdom since the early 2000s, the French luxury watchmaker Le Parc Horologie has entered the homes of upper-class English consumers with top-of-the-line products and international production quality.
Operating alone in a vast import market for this type of merchandise, the company, which had its own manufacturing of designer products, stood out in the luxury market and had its products promoted by celebrities, even appearing in widely circulated high-class magazines and various TV programs in the United Kingdom.
The factory produced for the United Kingdom and other European countries — Photo: Reproduction.
Undeniable beauty and quality prevented the company from declining during the recent years of crisis, mainly caused by the pandemic. The company, which decided to maintain its payroll amidst the restrictions in 2020, accumulated incalculable debts that hindered its recovery over the last two years.
History
Le Parc Horologierie was a solution brought to the United Kingdom during the Great Moderation, when it obtained tax breaks to establish itself in the south of the country and generate jobs for hundreds of English people.
The company quickly gained market share amidst high-priced imported products. Its luxury Rolex watches, with their handcrafted details, have always attracted attention for their luxury and refinement.
Photo: Reproduction/institutional archive.
In 2007, the factory already had a colossal volume of watches in its inventory, supplying the national market and the shelves of neighboring countries such as Switzerland and France.
From last gasp to bankruptcy
After reaching its peak in mid-2015, the factory went through difficult times due to the economic crisis affecting the entire country.
After a brief recovery in 2018 and 2019, the company had to keep its doors closed in 2020, but decided to retain its employees and keep their payroll up to date, hoping for a quick end to the global epidemic.
Photo: Reproduction/institutional archive.
Like thousands of businesses across the country, Le Parc Horologierie accumulated debt and declared bankruptcy in 2021, after a legal battle with employees seeking their labor rights.
The debt was estimated at 109 million pounds.
The judicial determination
Following the court ruling, liquidation proceedings were initiated to settle labor debts and part of Le Parc Horologierie's tax and fiscal debt. The company then decided to sell its products online to clear out its remaining inventory.
The Cosmograph Daytona watch, Rolex's most iconic model, once cost £4,600, but in recent days its price has dropped to less than a quarter of its original value – which was already a promotional price by high-end standards – and has fallen to £1,150.
However, due to the urgency of settling its debts because of high interest rates and late fees, in order to avoid penalties for late payment, in a desperate move, the company Le Parc Horologie lowered the price even further to liquidate its inventory as quickly as possible.
Cosmograph Daytona campaign — Photo: VOGUE Magazine.
Upon checking the Official Website , we observed that it is currently still possible to purchase the iconic Rolex Submariner Date watch at an exclusive promotional price at the Majestic Store for only £59.99 with easy payment options through the shop. Undoubtedly, the company is sparing no effort to achieve its goals.
The news was published last Monday; we hope our readers can see it in time to take advantage of this incredible sale.
Below we leave the link to Official Website , click and find out if there are still coupons available for purchase. If you are interested in buying the world's most coveted bag at an extraordinary price, we advise you to confirm your purchase today, before the stock runs out.
How do I buy it?
Our reporting team contacted Majestic Store, the company responsible for the promotional coupons for the stock clearance sale, to find out more details about the purchase process and how to take advantage of the opportunity.
In response, the company informed us that the products are in high demand and the stock, which seemed endless, is now running low. Furthermore, the products are not being sold in physical stores, only through the official website. (access by clicking here) .
Finally, the company informed us that the coupons are only for specific products, and that these are usually the favorites of the brand's audience, which is quite demanding.
He also warned us that the current coupon offer is only available for the next 24 hours and that it does not guarantee that the price or stock availability will be maintained in the coming days.
GO TO OFFICIAL WEBSITE
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