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Tag: Hong Kong

  • Calvin Klein Underwear Shops in Hong Kong finally Opens

    Calvin Klein Underwear Shops in Hong Kong finally Opens

    Calvin Klein Hong Kong has opened a new store in IFC Mall showcasing its underwear collection.

    The 1700sqft (160sqm) store’s minimalist-style design features concrete floors with concrete-style ceilings and walls giving it an edgy, urban feel. The service counter is placed on a scarlet red rug which creates a stark contrast to the grey look.

    Calvin Klein store - IFC

    Stock is displayed on walls which defy traditional square-box store layouts. Mannequins hang from the ceiling without touching the floor and there is a bold wall-mounted LED display creating a focal point towards the front of the space.

    Besides men’s and women’s undergarments, the store sells denim jeans, jackets, accessories, sunglasses and fragrances.

    The company says the interior design is aimed at creating a unique setting to convey the brand’s “sexy, seductive and modern identity”.

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  • Samsung Pay Extends Through Many Arms of Hong Kong’s Octopus

    Samsung Pay Extends Through Many Arms of Hong Kong’s Octopus

    A big new partnership could help to dramatically extend Samsung Pay’s presence in Hong Kong: Samsung has teamed up with Octopus to enable its ubiquitous Octopus Cards in its mobile payments platform.

    The Octopus Card is essentially a reloadable electronic payment card, but what makes it special is its extensive reach throughout Hong Kong society. In addition to being a popular payment method at a range of retail stores and restaurants, the Octopus Card can also be used at vending machines and pay parking meters, on public transportation, at tunnel tolls, and even for access control in buildings. There’s even a whole page about it on Hong Kong’s official tourism website.

    As such, its integration into Samsung Pay represents a big win for Samsung in Hong Kong. Dubbed ‘Smart Octopus’, a virtual Octopus Card will be available to Samsung Pay users, and consumers will also be able to transfer their current Octopus Cards into the app. Summing up the partnership’s prospects in a statement, Samsung Electronics H.K. Co. Head of IT and Mobile Communication Business Yiyin Zhao asserted, “Together with Octopus, the go-to payment method for most transportation operators and retail stores, Samsung hopes to bring a revolutionary smart mobile payment service to Hong Kong.”

    It’s a win for Octopus, too, with CEO Sunny Cheung pointing out that the Samsung Pay partnership “represents a significant milestone for Octopus to introduce NFC payment via smartphones, offering our customers a fast, simple and seamless over-the-air mobile payment solution.”

    Smart Octopus will go live at 9:00 a.m. on December 14th, and will be supported wherever the Octopus Card is accepted.

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  • German burger chain Hans Im Gluck opens in Singapore

    German burger chain Hans Im Gluck opens in Singapore

    Following a holiday in Singapore last year, a restaurateur couple has returned to open a casual gourmet burger restaurant, Hans Im Gluck, in Orchard Road.

    The brand’s 50th outlet and first outpost in Asia, it specialises in vegan, vegetarian, beef and chicken burgers served alongside salads, tea infusions and cocktails.

     

     

    Hans Im Gluck was launched seven years ago by Gunilla Hirschberger, a vegan, who set herself the goal of shaking up Germany’s meat-focused dining scene. The 53-year-old Munich-based Swede saw a gap in the market for vegan-friendly offerings at burger restaurants, and with her German husband Thomas Hirschberger opened the first Hans Im Gluck in 2010, named after a German fairytale by the Brothers Grimm.

    They now run 49 outlets in Germany and Austria, with more coming up in Italy and Switzerland.

    Meanwhile, the Singapore restaurant is in a purpose-built outlet between International Building and the Royal Thai Embassy. Next year, the couple will open two more outlets – at Boat Quay and at Republic Plaza, Raffles Place.

    For 15 years, the Hirschbergers ran a Californian-Mexican restaurant chain with 40 outlets across Germany, which they have since sold. When they visited Singapore they say they felt an instant connection to the city.

    “Singapore has a good spirit and is full of different kinds of cultures. People here are open-minded and happy to see new things,” says Gunilla. “The city is innovative and has a good flow.”

    Their Singapore store features imported German-made oak furniture and 180 birch logs, installed throughout the restaurant to resemble a German forest. The menu, which looks like a children’s storybook, features 30 burgers.

    It has its own sauces including vegan mayonnaise and orange mustard, as well as multigrain and sourdough buns made exclusively for the chain and sent frozen from Germany.

    At 4000sqft (370sqm) and seating 180 diners, the restaurant is small compared with the German outlets, of which 23 are family-owned. Those restaurants are usually about 10,000sqft with about 400 seats, excluding the terrace.

    The Singapore restaurants are wholly owned by the Hirschbergers, and the chain is looking to expand into other parts of Asia, including Hong Kong and Taipei.

  • Ermenegildo Zegna presents a multisensory experience

    Ermenegildo Zegna presents a multisensory experience

    Ermenegildo Zegna, one of the most luxurious  Italian fashion houses for modern gentlemen, hosted an experiential cocktail event “Crafting Modernity” at the Hong Kong  Maritime Museum.

    The event was an interactive, multisensory celebration where guests were guided through an intimate look into Ermenegildo Zegna’s creativity and artisanship, as well as their latest offerings – from the iconic PELLE TESSUTA Leather Collection, to the new arrivals of Zegna Toyz Collection which is also exclusively made in PELLE TESSUTATM.

    Renowned actors Sean Lau and Moses Chan joined the evening to share some of the key defining moments in their life that have made them who they are today. Both embody the mature elegance of the sophisticated gentleman, their successes mirror Ermenegildo Zegna’s continuous pursuit of excellence and innovation.

    Up and coming singers Tim Wong and Alfred Hui also joined the event to provide a dynamic equation to the evening, as their contemporary music reflects the spirit of modern young men today.

    Undoubtedly though, the star of the show was the brand’s PELLE TESSUTA collection. Famous for its premium fabrics, Ermenegildo Zegna has taken leather to a new level, and the PELLE TESSUTA collection is the latest innovation, replicating the traditional method of weaving cloth to recreate precious fabric using extremely thin strips of select nappa leather.

    The Zegna Toyz Collection, which was officially launched in Hong Kong at the event, features a wide range of home, travel and gaming products all made in PELLE TESSUTATM. The items are dedicated to the modern man for three different moments of his life: “Essential” is a collection of small leather goods for the gentleman’s business life and includes, among other things, a coin case, a business card case and a sunglasses case. “Toys” is a selection of leisure and entertainment travel games, which includes a domino set, a playing card set and a game cube. The “Technological” offer consists of a series of multimedia accessories, such as headphones and turntable, created in collaboration with Master & Dynamic, the premium audio brand known for its sophisticated sound tools.

    At the event multisensory experience was created to stimulate the senses and guide each guest to connect with the brand on a deeper level and to truly experience and appreciate the innovation of the PELLE TESSUTA and the Zegna Toyz collection. Guests were invited to record a personalised audio message that can be immediately stored and also realized in a soundwave art on a plastic card, and when given to a loved one, can be played back by scanning the QR Code on the card face.

    Another highlight of the evening was  the headphone and vinyl record player created through a special collaboration with Master & Dynamic, resulting in a beautiful set of  top-of-the-line music gear that stands out with its timeless design that is both elegant in its lines and sophisticated in its bearing.

    To celebrate the collections, award winning bartender James Barker tailor –made 3 different signature cocktails inspired by Ermenegildo Zegna and its latest collections.

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  • Heineken Partners With A Bathing Ape For Its Capsule Collection

    Heineken Partners With A Bathing Ape For Its Capsule Collection

    Hong Kong-owned A Bathing Ape has been chosen by brewing giant Heineken as its partner for this year’s #Heineken100 program, its eighth collaboration with a retail fashion brand.

    The two companies have created a capsule collection of four co-branded fashion items: a hoodie, coach jacket, t-shirt and a six-pack bottle carrier.

    Unlike previous years – when the creations were gifted only to the 100 most influential beer drinks around the globe – this year consumers can buy the merchandise at a one-day only popup in New York. The store will be open in Japanese gastropub Izakaya in Manhattan’s East Village neighborhood in New York on Tuesday (December 12).

    Last year, Heineken collaborated with luggage brand Tumi to create a series of essential travel products. Other previous partners include Public School, Garrett Leight, Union Los Angeles, Parabellum, Mark McNairy, Kith and Neighborhood Japan.

    “The goal of the #Heineken100 program has always been to connect the brand with people who drive culture forward,” said Coltrane Curtis, founder and managing partner of Team Epiphany, the marketing agency behind the initiative. “This year, we listened to the fans. By opening up #Heineken100 to New Yorkers, we’re able to directly engage with consumers in one of the most influential cities in the world.”

    “This year’s #Heineken100 campaign brings together two brands with global ubiquity, whose consumers have a taste for luxury and innovation,” added Raul Esquer Lopez, Heineken USA brand manager. “We’re thrilled to partner with Bape, an iconic brand that shares a history of inventiveness through creating highly-aspirational imports for the man of the world.”

    The half-zip pullover hoodie will sell for US$399, the camo coach jacket for $413, the t-shirt for $112 and the cooler for $115. All feature dual branding.

    Bape is owned by Hong Kong’s I.T. Group.

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  • South African conservationist-turned-artist Bruce Little entrusts his latest exhibition to Tigers

    South African conservationist-turned-artist Bruce Little entrusts his latest exhibition to Tigers

    Tigers has transported 29 large bronze wildlife sculptures from Cape Town, South Africa to London, United Kingdom for conservationist-turned-artist Bruce Little’s largest exhibition to date, held at the Mall Galleries. 

    The sculptures ranged from a tiny Harvester Mouse, measuring just 10cm long, 10cm wide, and 10cm high, and weighing three kilograms, to a Leopard, measuring 450cm long, 160cm wide, and 120cm high, and weighing 250 kilograms.

    “We loaded the sculptures under the watchful eye of the artist himself, Bruce Little, and re-palletised and delicately wrapped them to ensure a safe and secure movement to the gallery,” said Trevor Weeks, Branch Manager, London Heathrow Airport, Tigers. 

    “Twenty-nine large sculptures arrived in an ocean freight container at Tigers’ London Heathrow Airport facility, and were cleared as temporary import with a view to possible sale, providing the customer with the most cost-effective solution.

    “A further 31 smaller sculptures were moved from an address in the UK, and were delivered together at the Mall Galleries, using a vehicle mounted forklift truck to assist the gallery team with offloading.”

    Tigers collected the sculptures from the Mall Galleries after the exhibition had ended, and delivered them to another location in the UK for a private show.

    “Hosting an exhibition, the scale of which we have just had in London, is no easy feat particularly when the source of work has come from thousands of kilometres away,” said Bruce Little.

    “Fortunately, we have companies like Tigers at our disposal that have assisted seamlessly in delivering our bronzes where and when they are supposed to be. 

    “Last year they moved a monumental lion for me from Cape Town to Longleat, Wiltshire, UK, which weighed approximately five tonnes and this too went without a hitch.

    “I am most grateful for Tigers and their associates that have made it possible for me to exhibit around the world.” 

    Tigers operates seven offices in the United Kingdom, including London Heathrow Airport, Gatwick Airport, Felixstowe, Cardiff, Banbury, and Leeds.

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  • Alipay Launches “Double 12” Global Shopping Festival in Hong Kong

    Alipay Launches “Double 12” Global Shopping Festival in Hong Kong

    Alipay, the world’s largest online, mobile payment and lifestyle platform operated by Ant Financial Services Group, today launched this year’s “Double 12” Global Shopping Festival in 15 countries spanning across four continents. In addition, Ant Financial’s strategic partners in Hong Kong, India, Thailand and the Philippines will introduce campaigns for their local e-wallet users for the first time. These partners include Paytm in India, TrueMoney in Thailand, and GCash in the Philippines. Together with CK Hutchison Holdings (“CK Hutchison), AlipayHK was launched in Hong Kong earlier this year to further develop local service offerings in the city.

    In short, we call it ‘glocalization.’” Douglas Feagin, President of International Business, Ant Financial Services Group said at the launch ceremony. “This concept is about developing Alipay globally while also developing localized service offerings.”

    “Working with our global merchants network, we also continue to focus on enhancing the Alipay mobile payment experience for Mainland Chinese tourists wherever they travel,” he added. “In particular, some of our most attractive Double 12 promotions are in the Greater Bay Area, where millions of Chinese travellers regularly visit.”

    As part of this year’s Double 12 Shopping Festival, almost 10,000 merchants in Hong Kong and Macau will offer exclusive discounts throughout December to Alipay users from Mainland China. This year, a key feature of this year’s Double 12 offering is focused on Hong Kong delicacies to attract Mainland China users. In Hong Kong’s Mongkok district, a promotion of “Hong Kong snacks for 1 RMB” can be enjoyed by Alipay users. In the Guangdong province, Alipay users will receive a cashback for every payment made in over 2 million stores.

    Venetia Lee, General Manager of Alipay Hong Kong, Taiwan & Macau said, “Our aim is to provide a seamless payment and travel experience to millions of Alipay users who constantly travel to the Greater Bay Area. We will plan to launch more integrated campaigns to further enhance our user experience and bring more value to our merchant network in the region.”

    Jennifer Tan, CEO designate of the joint venture between CK Hutchison and Ant Financial that offers AlipayHK separately commented on plans for Hong Kong. “Building on Alipay’s success in mainland China, we are rolling out a creative, localized payment experience for our Hong Kong users. Participating in this year’s Double 12 Festival is a first step towards that, and we are very excited to be partnering with so many local merchants to bring this festival to life by providing exclusive offerings to AlipayHK users.”

    CK Hutchison and Ant Financial first announced the strategic partnership in September 2017. The joint venture remains subject to regulatory approval, and is expected to complete in the first quarter of 2018.

    AlipayHK has partnered with over 8,000 brick-and-mortar stores to offer exclusive gifts, discounts and rewards throughout December. In addition, vendors in the Po Tat Market will offer “1 Dollar Groceries” flash sale on December 12.

    Alipay is also working with partners across Southeast Asia to launch localized versions of Double 12 shopping festival. In Thailand for example, more than 10,000 merchants will be participating in the 1212 D-day Deals for TrueMoney users while 3,000 merchants will offer exclusive discounts on 1212 GCash Day in the Philippines.

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  • New Eve Lom store in Harbour City, Hong Kong

    New Eve Lom store in Harbour City, Hong Kong

    The store opening is the culmination of a collaboration between Eve Lom and NY-based creative branding agency, School House, that first began with a refresh of the brand’s positioning.

    Eve Lom was one of the first founder brands in the luxury beauty space; since her entrance more than 30 years ago, the space, much like Hong Kong, has become crowded, causing a shift in the luxury paradigm.

    Inspired by the disciplined reductivity and subtlety of Eve Lom, the store concept offers guests a unique luxury beauty experience in the heart of the bustle of Hong Kong’s Harbour City.

    To complement its presence in one of the most densely populated and over-saturated cities in the world, the store actively refuses noise, in all senses of the word, with its overall atmosphere built from multiple curvaceous felt panels that seemingly envelope you upon entrance and absorb all chaos from the store’s surroundings.

    To bring the space to life, School House’s design team incorporated the new brand visualization using Eve Lom’s traditional color palette of white and gold while incorporating a new soft pink and green tones, inspired by the original balm cleanser coloration, along with the strategic use of a soft black.

    School House combined a mix of hard and soft materials such as slate, felt, porcelain and onyx to create an environment of simplicity and depth, to mirror the products being sold. The store is complete with an assisted consultation area, a full-line demo and testers display, and a retractable panel for privacy. The store signals a new era for the brand by making a powerful understatement, like only Eve Lom can.

    Consumers now seek authority, authenticity and simplicity from luxury beauty brands, tenets that Eve Lom has always represented. Noticing this change, School House saw an opportunity to reinvigorate the brand by strongly expressing its subtleties in order to take Eve Lom from the person to a persona through the execution of a strategy across a new brand visualization, including this new store concept.

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  • Mulberry Group first store to launch in Hong Kong

    Mulberry Group first store to launch in Hong Kong

    UK-headquartered luxury fashion retailer Mulberry Group plans to launch in Hong Kong.

    Announcing its first half-year results, the brand revealed plans – but no details – to expand in both Hong Kong and Mainland China through an omnichannel strategy. Other, unidentified global markets are on its radar as well.

    The news follows the success of its recent expansion into Japan which helped strengthen the international performance in the six months to September 30.

    In Japan, Mulberry Group signed a 50-50 joint venture agreement in July with licensing partner Onward Global Fashion (OGF). An initial presence of four stores in key locations, including Ginza, has already been expanded with a fifth store opening.

    Total first-half revenue for the company was virtually flat at £74.6 million (US$99.8 million) compared to £74.5 million a year ago. Sales through its retail channel were up 2 per cent to £56.6 million, but comparable sales eased 1 per cent. Gross margin increased 248 points (up £1.9 million).

    While UK sales were flat, international sales grew 8 per cent to £11.3 million. Global digital sales rose 3 per cent to £10.7 million, accounting for 14 per cent of group revenue.

    “We are delivering on our strategy to grow Mulberry as a global luxury brand,” says CEO Thierry Andretta.

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  • Top world models draw thousands of visitors at Hong Kong International Boat Show 2017

    Top world models draw thousands of visitors at Hong Kong International Boat Show 2017

    The ‘Hong Kong International Boat Show 2017’, the only boat show in Hong Kong this year, came to a close on December 3 amid the applause of both visitors and exhibitors. Organized by Club Marina Cove, the event featured a prize collection of designer exhibits, which included several award-winning boat models, with some of them being presented for their first time in Hong Kong, and even in Asia. The three-day Show attracted thousands of visitors and reported several immediate sales.

    China Pacific Marine reported an opening day sale of a Jeanneau 54 and a Merry Fisher 795 from France, while Hong Kong Boating also sold a Quicksilver from the U.S., followed by requests for sea trials from potential buyers.

    In addition, positive response was recorded at the hardstand booths, which featured a wide array of watersports equipment and accessories.

    This year’s exhibitors included:–

    • Asia Yachting, with its display ofthe Monte Carlo Yacht 105 from Italy, priced over HK$100 million;
    • Marine Italia exhibit –Azimut Grande 27 Metri fromItaly, winner of the “Most Achieved Trophy” in the 80’-125’ category at the World Yacht Trophies 2017;
    • Ferretti Group Asia Pacific– Ferretti Yacht 850;
    • Asia Marine Yacht Services –Galeon 500 Fly from Poland, which was named the European Powerboat of 2016;
    • Absolute Marine – Absolute 58 Fly fromItaly;
    • NextWave, the distributor for the English brand Sealine;
    • Simpson Marine –Beneteau Swift Trawler 44, inaugurallaunch in Asia;
    • Princess Yachts Greater China –Princess 75 Motor Yacht, which won an Asia Boating Award (Best Production Motor Yacht (15m to 24m) in 2016 and Motor Boat & Yachting Award in 2017;
    • Sunseeker Asia; Steering Marine; Wah Hing (China) Marine; Pak Marine; Promax Marine; etc.

    With a rising number of boating and watersports enthusiasts in Hong Kong, the market has become increasingly active with a preference for larger yachts, according to exhibitors.

    Now in its 23rd year, the ‘Hong Kong International Boat Show’, organized by Club Marina Cove, is the most established platform in Southeast Asia for the international boating industry. As the organizer, Club Marina Cove is dedicated to promoting the long-term development of the Hong Kong boating industry by providing a trading platform for the Hong Kong and Asian boating industry.

  • FamilyMart Japan to sell its Interests

    FamilyMart Japan to sell its Interests

    Japanese convenience store company FamilyMart Uny Holdings may sell its Hong Kong retail interests.

    Working with a financial adviser, the company is seeking about US$100 million for its three stores, insiders say.

    In Hong Kong, FamilyMart Uny runs department stores under the Apita, Piago and Uny brand names. They sell stationery, clothing and food ranging from local produce to imported chocolate, wine and wagyu beef.

    Government statistics show that sales in Hong Kong’s supermarket industry fell 0.1 per cent in the first 10 months of this year, compared with overall retail industry sales rising 1.2 per cent.

    A spokesman told the company had no plans to sell the stores at the moment.

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  • Abercrombie & Fitch opens new mega Hong Kong store

    Abercrombie & Fitch opens new mega Hong Kong store

    Abercrombie & Fitch has opened its first overseas store designed with the retailer’s new boutique outfit, launching a mega store in Hong Kong.

    Located in the Harbour City mall, the 6,800 square-foot-flagship design reflects the evolution of the brand as it aims to flick its sexy image and attract a more mature audience. It is the largest Hong Kong store to date and forms part of Wharf Holdings in Harbour City.

    “Harbour City is a world-renowned mall and it will be a premier location for our updated Abercrombie & Fitch experience. While we continue to invest in our omnichannel capabilities, enabling our customers to engage with us whenever, wherever and however they choose, our stores remain an important gateway to our brands,” said Fran Horowitz, Chief Executive Officer of Abercrombie & Fitch Co.  “In this new space, we expect to deliver greater productivity on a significantly smaller footprint than our previous Hong Kong store. We are looking forward to bringing our new store experience to existing and new customers in Hong Kong.”

    Inside the store, the new layout looks to make customers stay in the store for longer, as well as promoting “product trial.” Other unique features included gender-neutral fitting rooms quipped with controls for lighting and music, as well as a phone charging dock.

    There are three separate spaces and three “suite-style” rooms for shoppers to share looks with friends or family while browsing.

    “We designed this new space based on our customers’ feedback, and our understanding of how they like to shop,” said Stacia Andersen, brand president for Abercrombie & Fitch.

    “The result is an open, comfortable, technology-enabled and service-first experience that reflects the shopping experience of today.”

    Abercrombie first announced in June that it would open the Hong Kong flagship before Christmas. It is one of seven new concept stores that will be completed by the end of 2017, all of which will be in the US. The first new prototype store opened in February of this year in Columbus, Ohio.

    The largest mall in Hong Kong, including shopping, dining, entertainment and sightseeing, Harbour City attracts more than 80 million visitors a year, and its tenants include many of the world’s leading brands.

  • Little Starters seeking US$20,000 kickstart

    Little Starters seeking US$20,000 kickstart

    Hong Kong children’s fashion startup Little Starters is using crowdfunding campaign Kickstarter to finance international expansion and growth of its basics collection.

    Founded by best friends Leisia Tsang and Ellen Ogren, the brand offers seasonal and monthly deliveries through a bespoke subscription concept. Clothes are hand-picked and delivered to customers’ doors on an ongoing basis. There is also a core collection year-round for customers wanting to buy individual basics in key colorways and prints.

    “After more than a decade working with fashion brands all over the map, we began to feel the
    repercussions a busy lifestyle has on one’s time for friends and family,” says Tsang. “This is when we saw an opportunity in children’s fashion.”

    Ogren says Little Starters designs and produces “casual-cool” clothing in sizes for newborns up to four years old. “We use only super-soft fabrics that are kind on skin, responsibly sourced and free of dangerous chemicals.”

    Shoppers complete a style quiz at the website to determine their tastes for their children’s clothes.

    Based on this, the Little Starters team personalises seven mix-and-match pieces for delivery, and shoppers have three options for delivery frequencies.

    For each subsequent delivery, the clothing sizes increase to keep up with the growing children. After each delivery, shoppers have seven days to decide what to keep. Returns are simple and free. If the entire box is kept, thre is a 20 per cent discount.

    Little Starters has set out to raise US$20,000 on Kickstarter by January 11.

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  • Hong Kong to be one of world’s earliest adopters of 5G technology

    Hong Kong to be one of world’s earliest adopters of 5G technology

    Hong Kong will be one of the world’s earliest adopters of next generation 5G mobile broadband services, which will run 10 times faster than existing high-speed mobile internet when the technology is ready for commercial use in 2020, local officials revealed on 1 December 2017.

    The Office of the Communications Authority said the city would “grasp” 5G’s benefits after service allocation details are finalised in 2019.

    The International Telecommunication Union (ITU), a UN body, will convene the World Radiocommunication Conference in 2019 to decide global allocation of the 5G spectrum. Commercial 5G services are expected to roll out the following year.

    The current mobile broadband standard, 4G-LTE, is only capable of download speeds of 1 gigabit per second. The 5G standard is expected to have a maximum download rate of 10 gigabits per second and will have significantly less latency, giving people faster load times for content, such as for full, high-definition videos.

    Information technology sector legislator Charles Mok said once the 5G spectrum is finalised, it would be relatively simple to install on existing 4G-LTE networks, without needing to replacing entire cellular towers.

    Mok expected the 2019 conference to go smoothly because many vendors and developers were already preparing products for 5G as they had an idea which spectrums would most likely be allocated.

    “The ITU announcement will be just a formality because where the industry is going is pretty certain,” he added.

    Meanwhile, the communications authority has set up a licensing scheme for companies that wish to use wireless bands for Internet of Things (IoT) devices.

    IoT products are constantly connected to the internet, collecting data for use on other devices or for companies’ later analysis to develop upgrades or new products.

    The licence would give the government regulatory oversight of products that use wireless communications to generate, exchange and consume data. This would include smart meters, smart waste management systems and autonomous vehicles.

    Two international companies have applied for the licence, according to authority deputy director general Chaucer Leung Chung-yin, but he declined to name them.

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  • WatchBox starts digging into luxury market

    WatchBox starts digging into luxury market

    WatchBox has launched as the first global e-commerce platform specialising in buying, selling and trading pre-owned luxury watches.

    It is the result of a partnership between Govberg Jewelers CEO Danny Govberg, former Sincere Watch owner Liam Wee Tay and investor-entrepreneur Justin Reis. Singapore private equity firm CMIA Capital Partners has led an initial investment round in WatchBox, earmarking more than $100 million of capital to be deployed over the next 18 months for building out the startup’s multi-platform strategy.

    “We are backing a proven leadership team of industry veterans who offer a fresh perspective on the global luxury-watch industry,” says CMIA managing partner Lee Chong Min. “WatchBox’s annualised revenue run-rate is set in the near term to exceed US$200 million. We believe WatchBox will transform the multi-billion-dollar luxury-watch industry.”

    He says CMIA is ready to back further funding rounds to capitalise on “certain business opportunities”.

    Evolving from the business practices of 101-year-old watch retailer Govberg Jewelers, WatchBox has already established a profitable business model for pre-owned watches in the US, with the founders realising the need for a physical location also in Hong Kong, where it has opened an office in the CBD. WatchBox now has dual headquarters, showrooms and “trading floors” (e-commerce centres) in the world’s two largest watch markets.

    Asia’s leadership team includes Tay as chairman and Reis as co-CEO. Tay transformed Sincere Watch from a traditional family-owned company into a pan-Asian luxury-watch institution, taking it public in both Singapore and Hong Kong before selling in 2012.

    “WatchBox capitalises on the estimated $400 billion global pre-owned watch market by embracing advanced technology to offer consumers a scalable platform to buy, sell and trade pre-owned timepieces through a trusted partner,” says Tay.

    As it moves to increase visibility through its e-commerce and digital services – specifically its website, mobile application and social-media presence – Watchbox regards offline integration in key markets as essential.

    “The watch industry is going through a period of consolidation, and the timing is right to build a robust and trusted global trading platform in the pre-owned category,” says Reis, who has had more than 20 years of experience in private-equity investing in Asia.

    Steering WatchBox from the company’s tech hub in the US is co-CEO Govberg, who says Watchbox offers a balance of technology, data systems and 24/7 connectedness, along with personalised service and guaranteed authenticity.

    WatchBox has 130 global associates, showrooms and private offices in Hong Kong and North America, and plans to further expand into other regions across Asia and Europe within the next year.

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