Sorry about your non working new watch.
But usually for me if watch case, dial printing, sapphire crystal etc. are very high quality and you definitely like to keep that watch, maybe is better to not send it back and make a full service for movement instead of replacement?
I mean, if dealer will sent to you new replacement watch, then yes, movement can be working perfectly, but maybe this time you will got watch with some minor( or bigger) "cosmetic problems".
I have learn that in rep business is perfect look and dead movement better, than not so perfect look and working movement. Only if we are talking about high end rep- with serviceable movement. If you really really like that model then service is needed done probably in the future, so do it asap.
But, that is just me, my 5 cent.