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Thread: Leica dealer profit margin?

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    Leica dealer profit margin?

    Hi guys,

    does anyone know what the dealer profit margin on Leica products is?

    Differentiated by M/S, body/lens?

    I would guess 25-30%, but am not sure?

    Best,

    Paul

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    Re: Leica dealer profit margin?

    Less

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    Re: Leica dealer profit margin?

    How much?

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    Re: Leica dealer profit margin?

    Regardless of brand although some maybe slightly higher its around 10 percent across the board. Its really not much. Now Leica Boutiques could possible get more because of the dealer investment with installing them. They are very nice but those costs of construction are high. I don't know for certain but they should get a incentive in percentage in my view. They take a lot of space in the stores which takes away from other products that dealer may sell.
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    Re: Leica dealer profit margin?

    Much less, my dealer gives my a good discount (cost + %) but I cannot say what ;-)

    john
    used to be chiaroscuro_NZ

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    Re: Leica dealer profit margin?

    I wonder what is the purpose to officially discuss Profit margings of Leica Dealers on a Forum?
    Do you guys wish to post the Profit margins of your Business or anyone would like to post his income and compare it to that of a photo store and the People who work there? (No , I dont own a photo store but I believe if the Internet continues to behave like that one day there wont be any photostores in our cities anymore)
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    Re: Leica dealer profit margin?

    Quote Originally Posted by Paratom View Post
    I wonder what is the purpose to officially discuss Profit margings of Leica Dealers on a Forum?
    Do you guys wish to post the Profit margins of your Business or anyone would like to post his income and compare it to that of a photo store and the People who work there? (No , I dont own a photo store but I believe if the Internet continues to behave like that one day there wont be any photostores in our cities anymore)
    Tom,

    You are unfortunately pretty spot on with your thoughts!

    While competition is always good, I still prefer a decent store where I can handle cameras and lenses before I buy - and send maybe back more that 50% because I do not like it. This behavior becomes unfortunately very common, but not only does it ruin local stores, it also ruins our planet long term.

    Not sure how this will evolve ....

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    Re: Leica dealer profit margin?

    Quote Originally Posted by Paratom View Post
    I wonder what is the purpose to officially discuss Profit margings of Leica Dealers on a Forum?
    Do you guys wish to post the Profit margins of your Business or anyone would like to post his income and compare it to that of a photo store and the People who work there? (No , I dont own a photo store but I believe if the Internet continues to behave like that one day there wont be any photostores in our cities anymore)
    Since the question is posted, I would like to know how much. They do post product launches complete with their fancy dinners and such. Online reviewers become instant food photogs for a day. Why not?

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    Re: Leica dealer profit margin?

    Quote Originally Posted by Vivek View Post
    Since the question is posted, I would like to know how much. They do post product launches complete with their fancy dinners and such. Online reviewers become instant food photogs for a day. Why not?
    I am not interested because I don't want to share my margins of my business and I don't expect others to share their margings. I try to make a good job and convince people that my prices are worth the money. I want good service that's why it is not my goal to reduce the margin of Stores, and I don't even want to know the margin.
    But one can always ask. I doubt there would be any reliable answer anyways.
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    Re: Leica dealer profit margin?

    Generally in many retail businesses like camera, bike shops, ski shops etc., its the add ons and accessories that are the real money makers, not the one high ticket item to get one into the system or hobby. In bikes (bicycles), the bike itself has low profit margins but the bike accessories can often be over 30%. Same too for cameras vs. the usual accessories such as straps, memory cards, even lenses.

    I agree, it shouldn't be about how low one can get a business to lower its prices or there will be no local business and that will be a loss for all concerned.

    Dave (D&A)
    Last edited by D&A; 10th November 2015 at 08:45.

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    Re: Leica dealer profit margin?

    Quote Originally Posted by Paul Spinnler View Post
    Hi guys,
    does anyone know what the dealer profit margin on Leica products is?
    Differentiated by M/S, body/lens?
    I would guess 25-30%, but am not sure?
    Paul,

    In conversation with the Leica Rep last Friday, we were talking about this subject a little bit. I made the assertion that I thought dealers made about 8% on the bodies and maybe double that on the lenses. I've known Tom a long, long time (about 15 years) and we're used to speaking candidly and frankly about the business.

    He laughed. "The dealers would die for that much.. I can't even get that much discount on my own purchases as a Leica employee. They make their money on all this other stuff" ... he gestured to the bags, cards, tripods, etc on the store floor ..."and very little on the cameras and lenses themselves. I keep trying to get them more but it's very tough. Gross margins are very slim once into the distribution chain."

    I've watched gross margins in my own business (computer hardware and software) fall from a high in the middle 1980s around 50% hw/90% sw to the current 8-12% both range, and sometimes even less, which is what I based my question on. So I suspect that Tom is not speaking hot air.

    G
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    Re: Leica dealer profit margin?

    The non-offical Leica dealers in HK were making about 20-30% on their grey imports from my understanding. But that's a different kettle of fish.

    I feel the pain re: computer hardware. I managed the New & Existing Business in my previous role, providing tech services & hw to the Alternative Investment market. The arse fell out of any kind of HW margins to the point where we were barely tracked on it. Now everything enterprise level is Cloud based or similar except for networking HW. Times a changing!

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    Re: Leica dealer profit margin?

    I ran a consumer electricals online retail store for a few years.

    Margins in retail are thin, thin, thin for small operations. I admire anyone who as an independent can make money.

    Volume is the only way to make money on commodities (which most electricals are) or by selling luxury items. Maybe Leica falls into the latter category but I'm really talking jewellery.

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    Re: Leica dealer profit margin?

    You can't work on 2-5% stocking new cameras (no business can) they make more, only way to turn a profit is in trade-ins. Nor sure why you would care what the profit margin is but anyone who tells you their cost is lying anyway.

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    Re: Leica dealer profit margin?

    You guys are naive if you think your dealer makes less then 10%. I'm sorry but all the above is just wrong.

    My HK dealer would make 40% on MSRP on most M lenses (if he sold at USA pricing). He sells way below because nobody wants to pay MSRP anymore since the market is saturated with M lenses. That and in the USA right now there's a 12% discount.

    Zeiss Otus lenses are (depending on the market) 40% markup (I know this for a fact). Which is why I'm always furious to hear that Zeiss charges upwards of $2,500 to fix "impact damaged" lenses. Because it means Zeiss is ACTUALLY making their full profit margin.

    My dealer tells me current market allows him to make around 15-20% depending on how savvy the consumer is and the lens in question. I get REALLY good prices from him, yet he's still trilled when I show up to buy gear. So I suspect he makes more like 20-25% off most people.

    That and I was told Leica dealers in Singapore run on volume kickbacks. As in, if you sell more in a given month Leica gives you a bonus. I was told this by a Singapore dealer, I don't know how true it is, but that's what he told me. Perhaps markets are different. But I doubt that USA dealers make LESS then HK dealers considering HK dealers charge a LOT less for lenses then USA dealers.

    Just saying... But believe what you want to believe.

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    Re: Leica dealer profit margin?

    €150 for a key chain ring gives an indication of the profit margins involved.
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    Re: Leica dealer profit margin?

    I asked the question because I think my dealer is lying. I am thinking of getting a 007 plus a lens and would've thought that I get a discount to list, yes, even though it is Leica. My dealer then told me something about very, very thin margins and that he couldn't do it.

    Problem is that I heard from M dealers in Germany that sell new lenses at 20% discount and even from the Swiss Leica general managers himself an example of margins around 30%.

    Actually, this would be a very, very bad business to be in, if you sold Leica stuff and your marines would only be 10% or less. I just think it is a lie and wanted to know if anyone has more info on this.

    Best,

    P

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    Re: Leica dealer profit margin?

    I'm also pretty sure the dealer margin is more close to 20% than to 5....
    It could be 25% on lenses actually.
    I did make a strong negociatiation for the purchase of my S-24mm, pushing my dealer to its limits.
    As a result I've got a new, box sealed 24mm for 5.750eur ttc instead of the 7.500eur list price (at the moment), it's 23% discount.
    I've also got 16% discount on another S lens purchased later (ps: dumping is not legal, nobody is supposed to sell stock products with negative margins, in my country you'll have to fall in bankrupty before it's authorized).

    The same dealer didn't accept to discount the S007 (17.900eur), the reason invoked was: Leica is well aware of the discounts offered by the dealers - as discounts are forbidden in the Leica stores it was an unfair situation. As a consequence Leica did reduce the margins of the dealers (since june'15) to avoid further discount sales.

    Unlike during my lenses purchase negociation I'm now in a weaker position as I want to trade my S2 against the S007, so I'm less than convinced that the former argument really is the naked truth...
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    Re: Leica dealer profit margin?

    Quote Originally Posted by Vivek View Post
    €150 for a key chain ring gives an indication of the profit margins involved.
    Hah! I saw that . . . but perhaps it only gives an indication on the profit margin on key chains?

    Just this guy you know
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    Re: Leica dealer profit margin?

    Jono,
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    Re: Leica dealer profit margin?

    Quote Originally Posted by jonoslack View Post
    Hah! I saw that . . . but perhaps it only gives an indication on the profit margin on key chains?
    Good one, Jono.

    Whatever the dealer profit margin after packages, sales volume paybacks, etc, I'm still sure it's pretty slim. Most dealers are struggling—I can't imagine that would be the case if they were making fat markups.

    G

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    Re: Leica dealer profit margin?

    This is a general rule of thumb and of course it varies greatly. On things like camera bodies and bikes, profit margin is slim. On items like lenses, flashes and aftermarket higher end bike wheels, helmets, profit margin is aometimes better. On smaller accessories like memory cards, camera straps, camera bags or say bike lights, bike gloves and clothes as such, profit margin is considerable. The camera body or bike gets one into the hobby or system and its additional sales to that consumet that support their hobby or system where the money is made.

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    Re: Leica dealer profit margin?

    Quote Originally Posted by D&A View Post
    On smaller accessories like memory cards, camera straps, camera bags or say bike lights, bike gloves and clothes as such, profit margin is considerable.
    Astonishing deal on the Leica flash shoe cover.

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    Re: Leica dealer profit margin?

    Quote Originally Posted by Paratom View Post
    I wonder what is the purpose to officially discuss Profit margings of Leica Dealers on a Forum?
    I'm sure used car dealers don't like valuations appearing in the dealer's Black Book® - but it empowers consumers so, in my opinion (obviously I'm not a used car dealer) it's a good thing.

    No difference when it comes to camera gear - I want the best deal I can get, so if I know how much headroom the dealer has to move on price, so much the better.
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    Re: Leica dealer profit margin?

    Quote Originally Posted by Paul Spinnler View Post
    I asked the question because I think my dealer is lying. I am thinking of getting a 007 plus a lens and would've thought that I get a discount to list, yes, even though it is Leica. My dealer then told me something about very, very thin margins and that he couldn't do it.

    Problem is that I heard from M dealers in Germany that sell new lenses at 20% discount and even from the Swiss Leica general managers himself an example of margins around 30%.

    Actually, this would be a very, very bad business to be in, if you sold Leica stuff and your marines would only be 10% or less. I just think it is a lie and wanted to know if anyone has more info on this.

    Best,

    P
    If I'm dealing with my USA dealer I get 5% on ANYTHING Leica. I still use my HK dealer, but thought it was worth mentioning. Seeing how the profit margins are only 8% or so, my dealer must LOVE me to give me more then 50% of his earnings

    And I'm not even paying his staff and etc.

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    Re: Leica dealer profit margin?

    Quote Originally Posted by Godfrey View Post
    Good one, Jono.

    Whatever the dealer profit margin after packages, sales volume paybacks, etc, I'm still sure it's pretty slim. Most dealers are struggling—I can't imagine that would be the case if they were making fat markups.

    G

    I think the dealer is struggling because demand is lower then usual for cameras in general, never mind Leica (where sales are really slow).
    Also depending on the region, Sony gives around 50% as a way to alleviate the need for Sony stores.

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    Re: Leica dealer profit margin?

    I use Leica M but have bought everything used. My local dealer (a personal friend) handles Nikon and Canon. His profit margins are extremely low. In addition, manufacturers are not always "cooperative" with dealers. Nikon is very poor, Canon is better. I don't know about Leica. But I feel petty sure about this -- if we want to continue to have local camera shops, we'd best "bite the bullet" and be willing to pay a little more than Internet discounts, or we'll lose all local dealers (my small city once had half-dozen, now we have one).

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    Re: Leica dealer profit margin?

    Quote Originally Posted by aDam007 View Post
    I think the dealer is struggling because demand is lower then usual for cameras in general, never mind Leica (where sales are really slow). ...
    While I agree that sales are slow, everywhere, every dealer I've talked to says their margins have grown pretty darn slim too ... They have to sell more to make the needed income and need to do that in a slow market. It's a very tough game.

    G

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    Re: Leica dealer profit margin?

    It's usually 16% gross margin, with a few exceptions, accessories can be a lot more. There are also various programs for dealers who keep medium format gear on display. There are no kickbacks/co-op, but if invoices are paid early there are prepayment discounts.

    I'll share a few from an obsolete two-year old price list.

    Leica S: $21,950 $18.218.50 17%
    Summarit-S 1:2.5/70 ASPH (E82) $4,995.00 $4,145.85 17%

    S-Camera Battery 270.00 180.00 33.33%
    S-Lens Cap E82 90.00 45.00 50.00%
    Leica X Vario (Typ 107) 2,850.00 2,422.50 15.00%
    Leica X Vario Hand grip 160.00 90.00 43.75%
    X2, Black 1,995.00 1,695.75 15.00%

    Leica M, Monochrom 7,950.00 6,678.00 16.00%
    Leica M, Black Paint (Typ 240) 6,950.00 5,838.50 15.99%
    50mm / f0.95 ASPH. (E60) 10,995.00 9,235.80 16.00%
    50mm / f2.0 ASPH (E39) 7,350.00 6,174.00 16.00%
    M9/M8/M-E Handgrip Black Paint 300.00 210.00 30.00%
    M-Multi-functional handgrip (for M Typ 240) 895.00 751.80 16.00%
    Leica Handgrip M (for M Typ 240) 300.00 210.00 30.00%
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    Re: Leica dealer profit margin?

    Margins for Canikon are a lot less, but they have co-op advertising programs and other kickbacks.

    Nikon DSLRs for example are generally invoiced at 10% margin

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    Re: Leica dealer profit margin?

    Its basically what I posted previously. Bodies have a smaller profit margin as compared to accessories. Still its a very competitive business and a lot of hard work goes into making a profit when all factors are taken into consideration.

    On a seperate note? Monza it good to see you back. Someone posted they were trying to get in touch with you months ago amd I know many of us have missed your participation. Hope all is well.

    Dave (D&A)
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    Re: Leica dealer profit margin?

    Here in the U.S., as of a few of years ago when the Supreme Court overturned approximately 80 years of precedent and allowed price fixing, Leica was one of the first to proudly jump on that bandwagon. The Leica rep I met at Samy's here in L.A. told me (and he was so proud that they price fixed) that it was to protect their "brand". Yeah. The sad fact is, is that Leica will punish dealers in the U.S. they find selling for even a dollar under MSRP. All of a sudden you just won't be able to get anything, as a dealer. I don't remember exactly what the margins are, but the only real way for a dealer here to discount is to throw in other items and not show them on the invoice, which probably screws with inventory control. My feelings are that once the dealer has bought the item, they should be able to sell it for whatever price they want. In another lifetime, I worked in a camera store. The single highest markup item that I recall were thread in glass filters. In the late '70's 52mm filters sold for $9.00 list and the dealer paid about $2.75 per. Larger filters scaled with price but maintained the margins. filters were always sold at list price. The store would often make more on just the filters - and you were heavily encouraged to sell at least one per lens - than on the whole camera sale. It's also the reason you can walk into you local shop and get a heavy discount on filters, if you know how to ask for one, and often pay substantially less than B&H.

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    Re: Leica dealer profit margin?

    Price fixing? What court case?

    You must be speaking of MAP, minimum advertised price.

    Dealers can and do sell at any price they want. However there are (legal) rules for MAP.

    Every camera manufacturer uses MAP.

    Some dealers get around MAP by claiming an item is used or demo, when it isn't. Leica USA is aware of this tactic but to date has not done anything to end the practice. It's not apparent they could do so.
    Last edited by monza; 17th November 2015 at 10:58.

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    Re: Leica dealer profit margin?

    As others have said, the mark up is in line with other makes, the two year old price list above is similar to what I have too. What I'm more interested in is Leica's profit margin. Bear with me now, but I have an example. The Digital Bolex, kickstarted a few years ago and still selling pretty decently for a niche pro-product was started as a low-cost, raw shooting true digital cine super 16 camera. They said they were able to achieve this low cost because they used existing, off the shelf components and that their input was largely to do with software, firmware and essential design. They used a kodak CCD and a low-tech screen. They didn't have to do R&D on hardly any of the hardware parts at all. Sound familiar? It should. The M9 was built around the same premise, but what allowed the Digital Bolex to be sold very cheaply, I think they're around $3000 dollars now, somehow made the M9 the most expensive camera in it's class. Though the M9 made and makes a lot of people very happy and was capable of great images, it was basically a sham as far as cost goes. They could have sold them at 5D prices and still made a profit but no no, it's Leica. Superior blah blah blah until it has any of the myriad of problems associated with that camera. Again, M9, capable of fine images and made a lot of people happy. But hugely over-priced considering how it was developed and all the issues that came with it. I know, I know, Leica doesn't sell cameras, they sell mystique. I prefer to think of mystique as synonymous with bullsh*t but one man's trash etc etc... Meanwhile the 'pro' SL is useless for 'pro' video http://leicarumors.com/2015/11/15/le...reported.aspx/

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    Re: Leica dealer profit margin?

    Also keep in mind to get dealer discounts dealers must buy a certain amount of merchandise each month, quarter or year to obtain whatever discount they get. Then take into account operating costs, etc, etc, etc and the net is not high. Why do you think less and less bricks and mortar cameras are still around?

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    Re: Leica dealer profit margin?

    Don't forget the M9 was back ordered for a very long time after release. If they had sold them for 5D prices they would not have sold any more units, they would have just collected more back orders...

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    Re: Leica dealer profit margin?

    Quote Originally Posted by monza View Post
    Don't forget the M9 was back ordered for a very long time after release. If they had sold them for 5D prices they would not have sold any more units, they would have just collected more back orders...
    It would have been contingent on them building a proper supply chain. Leica manufactures demand by keeping products off the market as much as on. It's a dog and pony show to generate exclusivity. Would ANYONE really complain if they built up an Asian factory to build the camera bodies and produced their premium lenses in Germany? If so their priorities would be in need of serious re-alignment. Leica could put their cameras in the hands of many more shooters out there who I daresay have more interesting stories to tell than your average well-to-do hobbiest. Most people forget that a $3.5-5k FF camera is still VERY, VERY expensive, but do-able for most with a dream. But Leica wants to be just above do-able to keep the luxury market happy. I would bet you that they have a building full of Q's waiting to go out, but they just trickle them out slow as they can to make it look like they're so enormously popular that they can't possibly make them fast enough. Total. Bunk. But you know, part of the 'mystique.'

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    Re: Leica dealer profit margin?

    As a former dealer, it was very frustrating. No matter how much harder I worked, there was no guarantee I'd make more sales...and because of their inability to properly match orders to individuals, a sale became a random event...

    Exclusivity is certainly a factor but when the M9 came out they were not prepared for the demand, they should have actually sold it for MORE. They were going on ebay for $1500 above retail. Selling them at 5D pricing would have just irritated more dealers and buyers.
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  39. #39
    Subscriber Member weinschela's Avatar
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    Re: Leica dealer profit margin?

    Quote Originally Posted by monza View Post
    Price fixing? What court case?

    You must be speaking of MAP, minimum advertised price.

    Dealers can and do sell at any price they want. However there are (legal) rules for MAP.

    Every camera manufacturer uses MAP.

    Some dealers get around MAP by claiming an item is used or demo, when it isn't. Leica USA is aware of this tactic but to date has not done anything to end the practice. It's not apparent they could do so.
    The Supreme Court some years ago ruled that vertical resale price fixing was no longer per se illegal -- meaning no defense for it. Now it is handled under the "rule of reason" and if there is enough competition from other brands, it could be okay. But the states have their own antitrust laws, and many still apply a per se rule to any kind of vertical price fixing. MAP is technically not price fixing because it theoretically only covers what a dealer can advertise, not what it can sell at. In any event a seller can always exercise its unilateral discretion to decide whether to deal or not to deal. The bigger problem as I understand it for smaller dealers is minimum stocking requirements. Many cannot afford to keep that much money tied up in gear on the shelves. The discussion about gross margins is really beside the point because every dealer has costs it must absorb like rent (if they are brick and mortar) , salaries, etc.
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  40. #40
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    Re: Leica dealer profit margin?

    I know for a fact it's no more than 12% on bodies, usually less, where I live. I worked in the retail business for years and wondered why we bothered selling Leica products when so muct time was wasted on dealing with faulty goods after sale. Canon margins were just as bad, often worse. Second hand and accessories is where the money is, no question.

  41. #41
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    Re: Leica dealer profit margin?

    I'm unaware of minimum stocking requirements for Leica. They had special programs for medium format which would provide larger margins if demos were on display but those were optional.

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    Registred Users MoJo's Avatar
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    Re: Leica dealer profit margin?

    There is obviously a difference of opinions to this challenging topic. I do have something concrete to offer here however. I used to work in a camera store, that became a licensed Leica dealer, and I read the actual contract myself between Leica and the store. It was a multi-page contract, and I do remember as clear as day, that the margin on Leica products was 25-27%. This is not hearsay, or what some dealer states. I was also aware that the margins on other brands, Canon, etc, were only about 5-8%, hence the emphasis by stores on selling accessories, where the profit is much higher.
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  43. #43
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    Cool Re: Leica dealer profit margin?

    Quote Originally Posted by MoJo View Post
    There is obviously a difference of opinions to this challenging topic. I do have something concrete to offer here however. I used to work in a camera store, that became a licensed Leica dealer, and I read the actual contract myself between Leica and the store. It was a multi-page contract, and I do remember as clear as day, that the margin on Leica products was 25-27%. This is not hearsay, or what some dealer states. I was also aware that the margins on other brands, Canon, etc, were only about 5-8%, hence the emphasis by stores on selling accessories, where the profit is much higher.
    What century was this?

    Standard margins have been as I've posted above for the past several years.
    Last edited by monza; 22nd November 2015 at 19:32.

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    Re: Leica dealer profit margin?

    Working this from the other end:

    What does it cost to lease 2000-5000 sq. ft. , renovate / set up, stock and run a boutique store in a prime city centre location with three knowledgable staff ?

    How much net return is needed to make the enterprise worth while ?

    I would be amazed if the actual margins and bulk discounts were not individually negotiated to get beyond the standard dealer retail terms.

  45. #45
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    Re: Leica dealer profit margin?

    Quote Originally Posted by FrozenInTime View Post
    Working this from the other end:

    What does it cost to lease 2000-5000 sq. ft. , renovate / set up, stock and run a boutique store in a prime city centre location with three knowledgable staff ?

    How much net return is needed to make the enterprise worth while ?

    I would be amazed if the actual margins and bulk discounts were not individually negotiated to get beyond the standard dealer retail terms.
    Overhead certainly is a large factor, as is personnel expense.

    Another factor that exists today is competition from Leica themselves. When skus are scarce, who gets allocation, company stores or independent dealers? I informed this forum of the impending plan of company owned stores a few years ago and some took issue with it; a few short months later I was proven correct.

    To compete as a US Leica dealer today requires low overhead and creative execution. Popflash is the best example.

  46. #46
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    Re: Leica dealer profit margin?

    Quote Originally Posted by FrozenInTime View Post
    I would be amazed if the actual margins and bulk discounts were not individually negotiated to get beyond the standard dealer retail terms.
    There may be a very small number of dealers who have the leverage to do this. They have to have serious volume and prove that they won't give away the pricing advantage. B&H and maybe one or two others at most might qualify but a small independent dealer has no where near the clout to do this.

  47. #47
    Registred Users MoJo's Avatar
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    Re: Leica dealer profit margin?

    Quote Originally Posted by monza View Post
    What century was this?

    Standard margins have been as I've posted above for the past several years.
    Well it was in this century, but just barely. I am surprised that Leica has lowered their margins by so much, but can only speak for what I saw at the time.
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    Re: Leica dealer profit margin?

    Quote Originally Posted by Speedgraphic View Post

    They could have sold them at 5D prices and still made a profit but no no, it's Leica. Superior blah blah blah until it has any of the myriad of problems associated with that camera. ...

    But hugely over-priced considering how it was developed and all the issues that came with it. I know, I know, Leica doesn't sell cameras, they sell mystique. [/url]
    LEICA's COMPANY FINANCIALS

    Income Statement 2011 2010 2009 2008 2007
    Revenue $364 $215 $187 $243 $201
    Gross Profit $209 $133 $102 $140 $116.059

    Net Income $50 $3.9 $-6.4 $4.4 $0.4

    For those, who are interested in Leica's profit as a Company (only data till 2011). I would not like to be a shareholder. From 2007-2010, they made barely 1.6 mio in combined profit in 4 years on a 4 years turnover of 850 mio, despite their high prices.

    Finally in 2011, they seem to turn the corner and have a 14% profit.

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