In a bold move, Studio Underd0g takes a stand against scalpers, canceling a $16,000 order for their highly anticipated Mim0sa watch. But is this a wise business decision? The answer might surprise you.
Zach Blass brings us the story of a small brand with a big heart, prioritizing customer satisfaction over short-term gains. Studio Underd0g's founder, Richard Benc, has made it a mission to ensure their watches reach genuine enthusiasts, not just those looking to flip for a quick profit. This commitment to integrity is a breath of fresh air in an industry often plagued by scalpers.
Here's where it gets controversial: Richard discovered a listing on eBay for the yet-to-be-released Studio Underd0g x Fears 02SERIES Mim0sa, priced well above retail, with the seller claiming to have 10 watches available. After some investigation, Richard canceled and refunded the order, ensuring these watches wouldn't fall into the hands of a flipper.
Richard's Instagram story revealed the financial impact: "While refunding almost $16,000 stings, it means we can prioritize legitimate customers." This move sparked a wave of support on social media, with over 200 comments praising Studio Underd0g's ethics and calling out other brands that cater to flippers. Users @keith.wee and @jesper_heller voiced their respect and admiration for the brand's stance.
But is this the best approach? Some argue that canceling such a substantial order might be counterintuitive. After all, flippers create a sense of exclusivity and desirability for the brand. However, Studio Underd0g's team is unwavering in their commitment to fairness. They believe that every customer should have an equal opportunity to purchase their limited-edition pieces, without the interference of scalpers.
The watch community applauds Studio Underd0g's decision, but the debate continues. Is it better to cater to flippers and risk alienating genuine enthusiasts, or take a stand and potentially miss out on short-term profits? What do you think? Should brands prioritize customer satisfaction over the allure of quick money? Share your thoughts in the comments, and let's discuss the future of watch retail!
In other watch news:
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- Australian brand Artem launches its first leather straps, crafted from the finest Barenia calfskin. These luxurious straps are now available in three classic colors, offering both style and comfort.
- Tudor joins Time+Tide's London Discovery Studio for an exclusive four-month residency, offering an immersive brand experience and the chance to purchase their entire catalog.
- Russell explores Bulgari's rebellious nature in the watchmaking industry, uncovering their rapid growth and innovative spirit. He sits down with Fabrizio Buonamassa Stigliani, Bulgari's Product Creation Executive Director, for an insightful conversation.
- Football icon Gary Neville teams up with Norqain for a special event at the London Studio, bringing together sports and luxury watches.
Stay tuned for more exciting watch industry updates, and don't forget to join the conversation in the comments!
