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Discussion Starter #1
As you may be aware Prometheus strives to offer customers the best quality for a fair price.

As a result of this Mantra we have been able to pass savings to our customers and our prices decreased last year due to better deals with our suppliers and reduced logistics costs specially due to our joint venture with Borealis Watch Company.

However currency markets are not helping and since beginning of year we have started to incur lower and lower margins due to the declining EUR against major currencies such as USD and CHF.





As our deals with suppliers are mainly arranged in USD and CHF and the EUR lost over 20% against those 2 pairs of currencies our margins at the moment are almost getting null.

To keep our financial situation sound we will have to react and increase our prices in EUR starting beginning of April. So this coming weeks are your last chance to purchase our watches at current prices.

The percentage increase is still not fully determined but we will do our best to keep passing savings to our customers.
 

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Fair enough, without margins there's not really much point being in business, you need them to continue to pump out your product.

Question though, if/when the EUR appreciates vs the CHF/USD prices will adjust back down accordingly? Or is this a little like a airline "fuel surcharge"?

-edited to add- it'll prolly be a while before the EUR goes anywhere but south ;-):-|:-|
 

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Giving the heads-up is much appreciated. Not every company would have done it without warning.

I was watching the Piranha for this reason, to be honest. The price due to the exchange rate has dropped significantly.
 

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NOTE: For all that pre-ordered the Prometheus Poseidon be aware that prices won't change if you have already made a deposit. We will honor all existing pre-order deposits.
Thanks for the explanation Carlos. The graphs really explain your story quite well. For those of us who have Prometheus watches already we can all attest to the fantastic quality and the affordable prices.

Its awesome that you will still honor preorder prices. I think you are really hitting a good stride with your recent offerings. The Poseidon will be a landmark achievement for the brand IMHO. Can't wait to see what else you come up with!
 

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Discussion Starter #12
As announced prices have been revised. At the same time we have decided to sell our watches directly in USD as this will also benefit majority of watch collectors as majority of payments were already being made in USD and paypal was exchanging money to EUR taking commissions in between. This way we will also provide buyers savings in terms of currency exchange fees.
 
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