Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
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Goldman Sachs raises Watches of Switzerland price target to 566 (550) pence - 'buy" rating.
UK is now out of recession:
https://www.bbc.co.uk/news/business-68983741
A great start this morning!
I'm hoping the 350p barrier can be broken today, to set us up nicely for next week with the results.
They have indeed
Most very small caps go for 4-6 x earnings but one could extrapolate 10-15 times for wosg with the enlarged retail network. Re rate due but everybody waiting for results first to ensure revenue has stabilised
Or WOSG got themself a decent bargain here??? Gla
Roberto Coin designs and manufactures delicately handcrafted jewellery with a unique ruby signature and is the sixth-largest jewellery brand in the US by sales at retail value. It has exclusive perpetual rights to import and distribute Roberto Coin jewellery throughout the US, Canada, Caribbean and Central America.
IMO what we see today is the procursor for consolidation in this sector.
I won't be surprised to see a takeover bid within a few months.
The deal is amazing for paying ! $130 million for a company that makes $30 million profit !
Just have a glimpse at its products !
hTTps://www.frostoflondon.co.uk/collections/roberto-coin
Broken out on good volume, sorry huge volume.
Significant spike in volume last couple sessions. Interesting. Gla
"Probably makes sense for them to move needle more towards being a first party retailer of jewellery.
Let's be honest otherwise being a third party retailer of Rolex and other major watch brands isn't a great position to be in long term, when those brands can pull the plug at any time, and already have their own superior direct to consumer offerings."
This is by no means a game changer. WOSG aren't a third party retailer, they're a retailer. The major brands have tried and failed to retail their goods direct. That is why WOSG and others run Rolex Boutiques, Omega Boutiques, Breitling Boutiques etc. The brands don't have the necesary experience or inclination to run retail networks. And that is why Roberto Coin is selling its US distribution arm to WOSG.
WOSG already runs a Fope Boutique in New Bond St with very limited success and I see little in Roberto Coin that will make any noticable difference.
A jewellery brand I don’t know much about but clearly up there
Nicole Kidman flashing the jewellery on the red carpet
These guys know their market
Cross selling whilst the Mrs is browsing.
Diversification a good thing
Using both distribution and retail networks to expand both propositions maybe.
Then the question becomes how will they fare long term in the jewellery market, which obviously has more competition through an array of brands than the watch one. On the higher end would have thought the likes of LVMH and Richemont already have this sewn up.
Probably makes sense for them to move needle more towards being a first party retailer of jewellery.
Let's be honest otherwise being a third party retailer of Rolex and other major watch brands isn't a great position to be in long term, when those brands can pull the plug at any time, and already have their own superior direct to consumer offerings.
It’s lonely on here today talking to myself lol
Nice to see confidence in purchasing another business. We must be doing well financially
No mention of further deterioration in results
Conf call will be interesting
They’re in prime locations inc Bloomingdale’s in New York
Very high end
Also check out TikTok
Interesting one. Paid only 6x EBITDA
Seems to be margin accretive and an opportunity to expand our network of jewellery and watches into other countries
Good surely?
I take it you aren't a fan of the new acquisition?
The £1m buy is a real one but the £2m an uncrossing trade sadly
There are a few £1-£2m trades going through quite often so somebody is building a stake
Every day I see another undervalued company with a takeover bid on the table
Surely we are in line for a £6 take out price soon
Here you go
Used to be about the fashion outfits, now it’s about watches
https://www.barrons.com/articles/forget-the-dresses-celebrities-pulled-out-wild-watches-for-the-met-gala-red-carpet-cbfc8614?mod=hp_PENTA
Just spotted they have reduced once again, that’s three times in the last week
Risk reward points to the upside
Hmm maybe
I think they have several USPs that would be difficult to copy
A solid retail estate in some of the best locations in the world. Their stores/boutiques are generally in very affluent areas where the wealthy shop.
After sales/repairs service is second to none
Their brand stands for trust and quality. So many fakes out there, better trust the brand and reputation when making a purchase
I’m invested for the doubling of stores, revenue and profits. Even if they get half way to achieving this, on a 9% margin I’d take £180-£200 EBITDA pa
Multiple of 10 x for a low growth company, 15-20 times for high growth which we are
My mate has been investing in Premium watches for 10-15 years. His Rolexes from new are still worth more in the used market but used values seem to have plateaued now, I like the idea of the used approved model we are pushing.
I see wosg a bit like car dealerships, new and used options available, diversified, when one suffers the other can thrive
I don’t see many negatives here other than revenue per store not growing at the same rate but growth will come from store roll out, a bit like the JD sports model.
I also like the idea that most customers are still signing up for Rolex’s with a 2-3 year wait. The only thing I don’t like is they don’t have to make a financial commitment for the order. Maybe that says enough about how confident the board is in selling then.
Any company with a 2-3 year order book should be laughing
Biggest concern is still how many watch suppliers will go direct.
Like NIKE, when they realise how difficult it is to find good stores in prime locations and a turn a profit they’ll give up
That would imply earnings of ~£140m for FY24 which seems too high to me, with continued consumer discretionary softness in UK and Europe and the ecommerce weakness they've reported.
Takeover wise the challenge is they lack a USP and are dependent on big brands for supply. If PE took this on for example, how would Rolex feel about continuing that relationship? There are already indicators they've throttled supply to third parties for some of their highest demand lines. So share price recovery if it happens might have to instead come from slow grind of them trading their way out of this.
How much for takeover price do you think?
At 10x 2024 earnings, that’s about £6?
Hi sorry what do you mean by CE?