I get your points, François. Thank you for having added something interesting to the discussion.
About the boutique size: at the end, it's the location atmosphere and how you're welcomed that counts. Have you ever visited, for example, the microscopic JLC boutique in Via Montenapoleone, Milan? I think it's less than 25 sq.m., but it looks very nice.
About the IWC collection: I think that when a brand want to rapidly become "global" has only two main way, to become a bit "popular" or to work directly to very top of the market. If this [self-sufficient] theory of mine was right, I would put IWC in the first league, with the added charme of an old lady, ready to be put even on a "wrong wrist" just to show excellent figures. Moreover, I think IWC has one of the most powerful and consistent marketing department in the industry. That said, I want to confirm I like more than one piece in the current collection. Let's see how this prestigious Manufacture will evolve in the future, maybe they deserve more independence inside the Richemont Group???
Ciao,
Elio