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Tag: the hour glass

  • This Year’s Finest Watch Creations in Singapore

    This Year’s Finest Watch Creations in Singapore

    Malmaison boutique by The Hour Glass in the heart of Orchard Road hosts the exceptional exhibition featuring the 72 pre-selected watches. After Venice and Hong Kong, the 72 watches pre-selected by the jury of the 18th Grand Prix d’Horlogerie de Genève (GPHG) are being exhibited from October 17th to 21st in Singapore by renowned retailer The Hour Glass, within the splendid setting of its Malmaison boutique on Orchard Road.

    On show for five days within this stunning environment imbued with art and culture, the exhibition open to the public welcomes visitors eager to admire the year’s finest watch creations, competing to win the prestigious “Aiguille d’Or” Grand Prix or one of the 16 awards to be handed out in Geneva on November 9th.

    “Our organizational mission to advance watch culture necessitates us to devote resources to deepen our engagement with the watch collecting community both in Singapore and in the region,” Michael Tay, Group Managing Director of Singapore’s leading watch retailer and member of the jury of the GPHG 2018, said.

    Rare Opportunity

    The principal partner of the GPHG, LGT Private Banking, is also taking part in the event by choosing to offer its clients exclusive initiation sessions into the technical and artistic finesse of the timepieces on show, in the company of watchmaking experts.

    A rare opportunity for these end customers to admire within a single location the diversity of today’s watchmaking creativity expressed through models by more than 40 different brands.

    Annual Salute

    Created in 2001 and overseen since 2011 by a foundation recognised as a public interest organisation, the GPHG is intended as an annual salute to the excellence of the contemporary watchmaking art.

  • Hublot open his first boutique in Hanoi

    Hublot open his first boutique in Hanoi

    Luxury watchmaker Hublot Vietnam has opened a new boutique in Hanoi, the brand’s fourth store in Southeast Asia.

    Operated by retail partner and exclusive distributor in Vietnam The Hour Glass, the boutique has opened in Hanoi’s premium heritage hotel, the Sofitel Legend Metropole.

    Hublot’s CEO Ricardo Guadalupe said: “It gives me great joy to unveil a new addition to our network of Hublot boutiques around the world here in the heart of Hanoi’s Old Quarter, a place that is rich in heritage, culture and history. It is indeed a fitting and strategic location to showcase Hublot’s vision – combining traditional craftsmanship whilst striving for innovation.”

    “Hublot is pleased to have been partners with The Hour Glass for over 39 years and this burgeoning partnership will continue to strengthen as we conquer the Southeast Asian region together.”

     

    The Hublot Vietnam boutique will serve as the launch pad for Boutique Exclusives, a selection of timepieces available only in the Hublot boutiques worldwide.

  • The Hour Glass profits drops 14 per cent

    The Hour Glass profits drops 14 per cent

    Citing challenging business conditions and weakening consumer confidence, luxury-watch retailer The Hour Glass reports that its net profit for the second quarter ended September 30 fell 14 per cent year-on-year to S$8.32 million (US$5.88 million).

    Revenue declined 7 per cent to S$163.11 million for the period.

    For the six months to September 30, The Hour Glass profit slumped 18 per cent to $16.51 million and revenue was down 7 per cent at $311.3 million.

    The group says the death of the King of Thailand will have an impact on the performance of the group’s Thai associates as the country enters a prolonged period of mourning.

    While the retailer believes market conditions will continue to be challenging, it expects to remain profitable for the rest of the financial year.

  • Hour Glass Q1 net profit falls amid tough retail environment, slower economy

    Hour Glass Q1 net profit falls amid tough retail environment, slower economy

    The Hour Glass’ first-quarter net profit tumbled 22 per cent year on year to S$8.19 million.

    For the three months ended June 30, total revenue and other income fell 7 per cent to S$149.43 million from the previous year. The decline in revenue reflected the economic slowdown and tougher regional competition, it said.

    Q1 earnings per share slid to 1.16 Singapore cents from 1.49 Singapore cents in the preceding year.

    For the quarter, gross margin edged up to 22.9 per cent from 22.8 per cent a year ago.

    Meanwhile, rental costs were higher due to the expanded retail network.

    The Hour Glass said: “The continuing global economic uncertainty is expected to affect consumer sentiment and the demand for watches and luxury goods. Barring any unforeseen circumstances, the group expects to remain profitable for the financial year.”

  • Hublot hosts its largest pop-up in the world in Singapore

    Hublot hosts its largest pop-up in the world in Singapore

    Swiss luxury timepiece-maker Hublot may be considered a “young” player in a market where its competitors have storied histories. But it has already made its mark.

    Founded in 1980 by Italian Carlo Crocco (who used to be part of the Binda Group, which makes Breil watches), one of the company’s early successes was a watch that had a natural rubber strap (a first in the history of watch-making back then). Despite a disappointing showing at the renowned timepiece fair in Basel, it soon sold in excess of US$2 million (S$2.79 million) in its first year. To date, Hublot has 50 boutiques all over the world.

    In 2005, Hublot’s then-CEO Jean-Claude Biver created a flagship collection called the Hublot Big Bang chronograph. It was an immediate success and orders increased threefold in one year. By the end of that year, the Big Bang chronograph received the 2005 Design Prize in the Geneva Watchmaking Grand Prix, along with other international awards.

    Now, some 10 years later, Hublot is celebrating the Big Bang in a unique way in Singapore. It will be putting up its largest pop-up store in the heart of Orchard Road at Ngee Ann City Civic Plaza — an idea that Ricardo Guadalupe, the current CEO of Hublot, credited to its long-time retail partner The Hour Glass.

    “With the help of our long-time partner and luxury watch retailer The Hour Glass, Hublot’s presence has stayed strong in Singapore and regionally for the last 30-over years,” he said in an email interview. “This pop-up store is an initiative fronted by The Hour Glass and we cannot be more supportive of this event. It is the largest Hublot pop-up store globally and … visitors can expect to see the world of Hublot on a panoramic scale — from haute horology to craftsmanship and lifestyle gears that Hublot has to offer.”

    “Some of Hublot’s latest collections such as the Big Bang Denim and Big Bang Broderie, showcase Hublot’s story of fusion,” said Wong Mei Ling, managing director of The Hour Glass Limited. “Hublot remains the first luxury watch brand to use real denim material in their timepieces, while the Big Bang Broderie is a nod to traditional artisanal lace craftsmanship while combining technical watchmaking — once again celebrating the story of fusion.”

    A key highlight of this store, said Guadalupe, is the two limited editions that have been specially created for Singapore. “The first is the Red Dot Bang, a timepiece created in two cases — Hublonium and Yellow Bang. It is a nod to not only the iconic Big Bang that made Hublot the success story it is today, it also showcases Hublot’s strength in material engineering,” he elaborated, adding that it was a limited run. There will be 50 pieces of the Hublonium variant in a tribute to Singapore’s 50th birthday and 10 pieces of the yellow-gold variant at the pop-up store.

    “Placing the red ‘10’ index on the dial also holds a dual meaning — it is an homage to Singapore’s national colour and the number (is) to celebrate Big Bang’s 10-year anniversary,” said Guadalupe.

    The other timepiece of note is the one-of-a-kind Hublot Manufacture MP-05 La Ferrari Golden Jubilee, which the company calls the “the super machine of all time machines”, adding that it was “a suitable model to develop … for Singapore”. This edition features a gleaming yellow-gold case set with 440 baguette-cut diamonds worth at least 13 carats.

    Not surprisingly, Guadalupe was effusive about the experience that visitors could take away from its pop-up event. “With every project that Hublot executes, we want our visitors to feel inspired, to draw from the brand’s dynamism and our bold spirit,” he said, adding: “It is a veritable playpen for all Hublot fans! One that truly showcases the spirit of Hublot. Hosting a pop-up store on such a scale is testament to Hublot’s strong presence in Singapore and the strong partnership that we share.”

  • Downturn? Not for The Hour Glass

    Downturn? Not for The Hour Glass

    Singapore listed watch retailer The Hour Glass Restricted has defied the regional downturn in luxurious watch gross sales.

    The corporate has reported a six per cent improve in after-tax revenue on gross sales up eight per cent within the yr to March 31. Complete gross sales have been S$734.9 million, with revenue S$59.7 million.

    The corporate attributes its success to an “unrelenting” emphasis on enhancing the standard of its retail community and supply and merchandising combine and a concentrate on controlling prices.

    “Navigating a singular specialist luxurious watch retailer like The Hour Glass via a demanding enterprise surroundings requires consistency and tenacity. These are the qualities which have enabled the group to proceed to develop as we stay targeted on enterprise sustainability over the long run,” stated Michael Tay, group MD.

    A key measure of the group’s success is the steadiness of its gross working margin – 22.6 per cent within the 2015 monetary yr in contrast with 23 per cent within the earlier yr.