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Tag: Time

  • Timex Takes Time to Triumph: Full Acquisition of Daniel Wellington Finalized

    Timex Takes Time to Triumph: Full Acquisition of Daniel Wellington Finalized

    Timex Group has successfully finalized the acquisition of Daniel Wellington, a distinguished Swedish watch and jewellery brand. This follows an initial 25% investment made by Timex three years prior. Throughout this time, the two entities have collaborated extensively in various areas including product development, sourcing, brand storytelling, and commercial operations.

    As Timex takes over complete ownership, they intend to propel Daniel Wellington’s forthcoming growth phase. The expansion will be achieved through various strategies such as product innovation, brand building, and increased global capabilities.

    Daniel Wellington: A Unique Brand Identity

    Despite the acquisition, Daniel Wellington will maintain its individuality as a unique brand. It will continue to embody its Scandinavian minimalistic design heritage, distinctive style, and a direct connection with its consumer base. The brand is expected to leverage Timex’s expertise in design, product development, sourcing, manufacturing, distribution, and digital engagement to its advantage.

    The acquisition has further solidified Timex’s standing in the realm of design-oriented watches and jewellery. It also aligns with Timex’s strategic plan to build and expand a distinctive global brand portfolio.

    Tobias Reiss-Schmidt, Timex Group’s President and CEO, opined on the acquisition. “Our association with Daniel Wellington over the past three years, and our increasing involvement with the team, has bolstered our belief in the brand’s potential,” he said. He lauded the team’s efforts and the progress they’ve made in reviving Daniel Wellington’s growth.

    Daniel Wellington’s founder, Filip Tysander, acknowledged Timex Group’s respect for the brand’s identity. “They’ve provided the experience and scale needed to facilitate our brand’s continued growth,” he stated. Tysander is proud of his team’s accomplishments and is confident in the brand’s success in the future.

    The financial particulars of the transaction were kept private.

    Questions & Answers

    What does Timex Group’s acquisition of Daniel Wellington signify?
    It indicates Timex’s commitment to building and growing a portfolio of distinctive global brands. It also strengthens its position in the field of design-led watches and jewellery.

    Will Daniel Wellington maintain its brand identity post-acquisition?
    Yes, Daniel Wellington will continue to operate as a distinct brand preserving its Scandinavian minimalistic design heritage, unique style, and direct connection with consumers.

    How is Daniel Wellington expected to benefit from this acquisition?
    The brand is expected to benefit from Timex’s expertise in design, product development, sourcing, manufacturing, distribution, and digital engagement, thereby propelling its growth.

  • Google To Enhance Photo Access And Privacy In Messages App With Android 16 Update

    Google To Enhance Photo Access And Privacy In Messages App With Android 16 Update

    Navigating to your photos in the Google Messages app for Android is simple, though it could be more streamlined. To begin, you’ll have to open Google Messages and select any prior message. A round button with a “plus sign [+]” icon is located to the left of the text input area. Clicking on this button reveals a range of options, including:

    – Gallery
    – Camera
    – GIFs
    – Stickers
    – Files
    – Location
    – Contacts
    – Schedule Send

    When you choose the Gallery option, the most recent images and videos stored locally on your device, as displayed by the Google Photos customized media selector, will be visible. However, if you need to access your photos via the Google Photos app using the Android System photo selector, you’ll have to press the Folders button situated at the bottom of the screen. This represents an additional step if you want to see the photos stored in the cloud rather than just on your device.

    Google is reportedly developing a solution to this issue, aiming to erase the additional step required to access your photos from the Google Photos app within Google Messages.

    Security and Access Concerns

    While the additional step may not bother some, it does raise a significant security concern. Google’s custom picker requires access to your full media gallery to function effectively. In contrast, Android’s photo picker allows applications to access only the photos and videos that you select. However, there is promising news — Google is said to be working on a way to allow users to access their photos from the Photos app via Google Messages without the need for the extra tap on the Folders button.

    New Developments in Android 16

    Android 16 introduces a new integrated photo picker equipped with its APIs, enabling apps to incorporate this photo picker directly into their interface. This provides app developers with a media gallery that feels native to their app, while also offering the security and privacy inherent in the Android system photo picker. This is because comprehensive media permissions no longer need to be sought. It was discovered that this embedded photo picker was present on a OnePlus 13 running OxygenOS 16.

    The Gallery button, when pressed, displays cloud-hosted photos and videos together with photos and videos stored on the local device. Before the introduction of the embedded photo picker with Android 16, users would have had to take the extra step and tap the Folders button to see their cloud-hosted photos and videos from the Google Photos app.

    Privacy Improvements

    Once the embedded photo picker is rolled out, there will be no need to grant the Google Messages app “Photos and videos” permission to share photos or videos. In fact, this permission can be revoked once the embedded photo picker is available.

    Questions & Answers

    What is the embedded photo picker in Android 16?
    The embedded photo picker in Android 16 is a new feature that allows apps to integrate a photo picker directly into their interface. This provides a media gallery that feels native to the app while also offering improved security and privacy.

    Does the Google Messages app require access to all my photos and videos?
    Currently, to function effectively, Google’s custom picker requires access to your entire media gallery. However, with the forthcoming embedded photo picker feature in Android 16, this will no longer be necessary.

    What is the benefit of the embedded photo picker?
    The embedded photo picker will eliminate the need for users to make an extra step when accessing cloud-hosted photos and videos from the Google Photos app. Additionally, it will enhance privacy as broad media permissions will no longer be required.

  • It’s about time! Apple releases watchOS 26

    It’s about time! Apple releases watchOS 26

    Apple has unveiled watchOS 26, the first iteration of the product’s operating system to feature Apple’s new naming approach, excluding beta versions. The significant update in the software is the introduction of the Liquid Glass design language, which adds a semi-transparent appearance to the display. As a result of Liquid Glass numerals, more of the backdrop will be visible. Users will also encounter Liquid Glass while looking at widgets and hints.

    The New Apple iPhone Series

    Apple is now taking pre-orders for the new iPhone 17 series which boasts an enhanced design, superior battery life, and top-tier performance. Interested customers can pre-order the device for a monthly fee of $0.00 with eligible iPhone trade-in (regardless of condition) and a qualifying plan.

    For customers seeking a sleek appearance, the iPhone Air is now available for pre-order at a monthly price of $4.73 with an eligible iPhone trade-in and a qualifying plan. The phone is expected to be shipped by September 19.

    In the professional range, customers can pre-order the powerful iPhone 17 Pro, featuring an upgraded design and a brilliant display for as low as $0.00 monthly at AT&T. To avail this deal, customers must trade in an eligible iPhone in any condition and possess a suitable plan. The offer is accessible for both new and existing customers.

    The impressive iPhone 17 Pro Max is available for pre-order at a monthly rate of $2.78. If customers trade in an eligible iPhone in any condition and set up a new line on a qualifying AT&T plan or upgrade their current one, they can avail a significant discount on the iPhone 17 Pro Max. This can save them up to $1,100 after 36 monthly bill credits.

    Liquid Glass and Other watchOS 26 Features

    Liquid Glass will be visible when viewing notifications, Control Center, controls, and in-app navigation. The key takeaway is that users will have the sensation of a glass panel between the content that appears layered on top of the watch display and the background.

    Notable features of watchOS 26 include Workout Buddy, a text-to-voice feature that serves as your workout companion, inspiring and motivating you. Live Translation, using AI, translates texts into your preferred language, expanding your communication possibilities.

    Another functional tool is Smart Actions which guides you on what steps to take when a friend requests information via text. For example, if a friend wants to know your location, the Find My app will appear on the display so you can share your location with a single tap.

    Call screening, another addition, asks callers for their name and reason for calling, allowing you to decide if you want to take the call. The iPhone’s Hold Assist also comes to the Apple Watch with watchOS 26. While you’re on hold, the Apple Watch will monitor your call and alert you when a live agent returns to talk with you.

    Apple has also improved the prediction algorithm used with Smart Stack to provide timely suggestions. Additionally, new watch faces are available with watchOS 26, and users can install the update on their Apple Watch through the Watch app on iPhone 11 or iPhone SE 2 or later.

    Questions & Answers

    What are the significant updates in watchOS 26?
    The major updates in watchOS 26 include the introduction of the Liquid Glass design language, a semi-transparent appearance to the display, and functionalities like Workout Buddy, Live Translation, and Smart Actions.

    What are the pre-order details for the iPhone 17 series?
    The iPhone 17 series can be pre-ordered for a monthly fee of $0.00 with an eligible iPhone trade-in and a qualifying plan. The iPhone Air is available for a monthly price of $4.73, and the iPhone 17 Pro and Pro Max are available for as low as $0.00 and $2.78 per month respectively with eligible trade-ins and plans.

    How can one install the watchOS 26 update?
    The watchOS 26 update can be installed by opening the Watch app on iPhone 11 or iPhone SE 2 or later, going to the ‘My Watch’ tab, tapping on ‘General > Software Update’, and if the update appears, tapping on ‘Download and Install’.

  • Aseer Time Advances Global Expansion With First Store Launch In China’s Growing Market

    Aseer Time Advances Global Expansion With First Store Launch In China’s Growing Market

    The Kuwaiti beverage chain, Aseer Time, has recently launched its inaugural store in China. This development forms part of the company’s broader strategy to expand its reach in the Asia-Pacific region, particularly within the rapidly growing food and beverage industry.

    The new outlet is situated in the city of Quanzhou, marking the company’s 501st location on a global scale. Aseer Time’s decision to establish a presence in China aligns with the robust growth being experienced in mid-sized Chinese cities like Quanzhou. Since 2020, there has been a noticeable surge in food and beverage expenditure in these areas, largely driven by Generation Z consumers and young professionals.

    Outside its native Kuwait, where it is popularly known as Juice Time, Aseer Time operates in a total of 23 countries. The brand is set to continue its international expansion, with additional stores slated to open in Australia, the Netherlands, and Los Angeles.

    Established in 2011, Aseer Time has successfully scaled its operations worldwide, predominantly by leveraging a franchise model. Approximately 70% of its outlets are collaboratively operated in partnership with local entities.

    Questions & Answers

    What is Aseer Time’s business strategy for expanding its operations?
    Aseer Time’s strategy for expansion involves broadening their reach in the Asia-Pacific region and other global markets, largely through a franchise model.

    Where is Aseer Time’s newest outlet located?
    The newest Aseer Time outlet is located in Quanzhou, China.

    What market segments are driving the growth in food and beverage expenditure in mid-sized Chinese cities?
    The growth in food and beverage expenditure in mid-sized Chinese cities is primarily driven by Generation Z consumers and young professionals.

  • Patek Philippe Unveils Grand Store In Hong Kong With Unique Themed Zones And Local Art

    Patek Philippe Unveils Grand Store In Hong Kong With Unique Themed Zones And Local Art

    Patek Philippe, the notable luxury watchmaker, has recently launched its grand store in the heart of Hong Kong, specifically at Queen’s Road.

    The Store’s Design and Features

    Stretched over an area of more than 3000 square feet, this new store is designed with meticulous attention to details. The shop features seven uniquely themed zones to provide a distinctive experience for its visitors. Among these zones, there is a museum dedicated to collectors, an elegant bar lounge, a private dining room, and a special ‘gold-leaf room’, a feature meant exclusively for the Hong Kong store.

    To incorporate a local flavor into its global brand, Patek Philippe has included a tailor-made art piece in the store design that is inspired by the scenic Victoria Harbour. This addition demonstrates the brand’s acknowledgement and appreciation of local aesthetics.

    Customer Experience

    This new store of Patek Philippe in Hong Kong is more than just a regular retail outlet. Rather, it is designed to provide an immersive experience for its customers and collectors. The aim is to transform the shopping experience into a memorable event, where customers can interact with the brand’s prestigious history, innovative design process, and superior craftsmanship.

    About Patek Philippe

    Patek Philippe, originally located in Geneva, is a family-owned, independent watch manufacturer. The brand is renowned for its innovative approach to watchmaking, which is evident from its ownership of more than 80 patents. The company takes pride in its commitment to the creation of timeless pieces that push the bounds of traditional watchmaking.

    Questions & Answers

    Where is Patek Philippe’s new store located?
    The new store is located at 12 Queen’s Road, Central Hong Kong.

    What unique features does the new Patek Philippe store offer?
    The store has seven themed zones including a collectors’ museum, a bar lounge, a private dining room, and a ‘gold-leaf room’ exclusive to the Hong Kong store.

    What sets the Patek Philippe brand apart from other luxury watchmakers?
    Patek Philippe, a family-owned company, is recognized for its focus on innovation. The brand has more than 80 patents and is dedicated to crafting timepieces that defy the limits of traditional watchmaking.

  • IWC Schaffhausen Unveils a Fresh Take on “The Little Prince” Masterpiece

    IWC Schaffhausen Unveils a Fresh Take on “The Little Prince” Masterpiece

    Swiss luxury watchmaker IWC Schaffhausen is set to enchant watch aficionados with the launch of two exquisite limited edition timepieces inspired by Antoine de Saint-Exupéry’s cherished novella, “The Little Prince.” This charming tribute includes the Big Pilot’s Watch Perpetual Calendar Tourbillon Le Petit Prince, distinguished as the brand’s first-ever blue ceramic perpetual calendar tourbillon, and the Big Pilot’s Watch 43 Tourbillon Le Petit Prince.

    Setting New Standards in Watchmaking

    The standout 46.5-millimeter Perpetual Calendar Tourbillon showcases a stunning blue ceramic case that elegantly honors the whimsical universe of “The Little Prince.” Complemented by an 18-carat 5N gold crown and case back ring, this sophisticated piece features the in-house calibre 51950, boasting a perpetual calendar and a captivating flying minute tourbillon positioned at 12 o’clock. Limited to a mere 100 pieces, each watch illustrates the beloved Little Prince standing upon his asteroid, taking the place of the traditional moon phase indicator.

    Celebrate Avant-Garde Design

    Next up is the Big Pilot’s Watch 43 Tourbillon, crafted in a chic 43-millimeter platinum case. Featuring the flying minute tourbillon at 6 o’clock, this beauty is powered by the calibre 82905, offering an impressive 80-hours of power reserve. Enhanced with IWC’s Pellaton winding system and friction-reducing Diamond Shell technology, the rotor—visible through the sapphire case back—once again showcases the whimsical figure of the Little Prince, adding a playful touch to its technical prowess.

    A Legacy of Giving

    Both timepieces are part of IWC’s long-standing collaboration with the Antoine de Saint-Exupéry Youth Foundation. This partnership, dating back to 2009, is dedicated to promoting education and literacy initiatives around the globe. By supporting young people through cultural and philanthropic means, IWC is keeping the spirit of the esteemed French aviator and author alive, working closely with Saint-Exupéry’s heirs and the foundation for nearly two decades.

    In a world where timepieces often tell tales of craftsmanship, IWC reminds us of the power of storytelling itself—turning ephemeral moments into eternal memories.

    Questions & Answers

    What is unique about the Perpetual Calendar Tourbillon Le Petit Prince?
    The watch features blue ceramic for the first time in a piece dedicated to “The Little Prince,” setting it apart in both aesthetics and craftsmanship.

    How many pieces of the Perpetual Calendar Tourbillon Le Petit Prince will be produced?
    Only 100 pieces of this exquisite timepiece will be made, making it a true collector’s item.

    What is the goal of the IWC partnership with the Antoine de Saint-Exupéry Youth Foundation?
    The partnership aims to support global initiatives in education and literacy, empowering youth through cultural and philanthropic efforts inspired by Saint-Exupéry’s legacy.

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  • New Apple Watch ads replay real-life situations where the timepiece saved the user’s life

    New Apple Watch ads replay real-life situations where the timepiece saved the user’s life

    While the Apple Watch was not originally created to save lives, over the years some of the health-related features on the device have sent out timely warnings allowing users to get to the doctor or the hospital before it was too late. In other situations, the Apple Watch on a person’s wrist notified emergency services or first responders, and a timely rescue was made. If you recall, when Apple was planning to launch the Apple Watch in April 2015, the tech giant was looking at the device as a piece of luxury jewelry.

    Apple was able to get its timepiece on the cover of regional editions of Vogue months before the product was released. In early 2017, Apple started shutting luxury-themed Apple Watch pop-up stores in Europe as it moved away from promoting the Apple Watch as a luxury timepiece as reports started to come in about users having their lives saved thanks to the watch.

    Apple has released a couple of new television commercials for the Apple Watch, both of which are based on real-life events and focus on a specific health-related feature. The first ad, created by Apple Australia, is called “Lexie’s Heart.” A young woman Lexie Northcott started to get low heart rate notifications on her Apple Watch and after a trip to the hospital, she was diagnosed with a congenital heart block. Doctors operated and gave her a pacemaker and, as Lexie’s mom says later in the ad, “If it wasn’t for that watch, she might not be here right now.” This 30-second ad is focused on “Heart Rate Notifications.”

    The second ad, also 30 seconds in length, also from Apple Australia, and also based on a true story, is called “Bruce and the Roo.” A gentleman named Bruce Mildenhall had been knocked unconscious by…wait for it…a kangaroo while he was biking. Bruce hit the ground hard, activating the Fall Detection feature on his Apple Watch. The device called emergency services and even messaged his wife to alert her.

    When Bruce came to, he heard the sound of someone hitting the back glass of the ambulance he was placed in. He then heard his wife asking, “Have you got Bruce Mildenhall in there? Is he alive?” The first responders told her, “Yes, he’s OK.” As the ad for the Apple Watch’s Automatic Fall Detection comes to an end, Bruce says, “I still wear my watch and I’m still looking for that kangaroo with tire marks.”

    Suppose Apple does run these ads outside of Australia and adds them to its advertising rotation in the U.S.. In that case, you might see one or both appear during this weekend’s big NBA and NHL games, college basketball telecasts, and between innings or during a pitching change on MLB spring training broadcasts.

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  • The Apple Watch Ultra gets an automatic “eye-saving” feature in watchOS 10

    The Apple Watch Ultra gets an automatic “eye-saving” feature in watchOS 10

    The watchOS 10 update will bring widgets to the Apple Watch that will be controlled via the timepiece’s Digital Crown. And with Smart Stack, Apple Watch widgets will bundle together based on the user’s typical schedule. For example, when the Apple Watch user gets up first thing in the morning, the weather widget will be on the top of the stack. The calendar widget could be on the top of the stack when a previously recorded appointment is drawing near.

    Another cool feature that watchOS 10 will bring to the premium Apple Watch Ultra is Auto Night Mode. Using the ambient light sensor, the watch will know when light levels are low enough to automatically warrant turning on Night Mode. In Night Mode, the Apple Watch Ultra removes the blue light that negatively affects your eyes by straining them and turns the entire interface red and black to make it more visible at night and less irritating to your eyes.

    The Night Mode currently is enabled manually by swiping to Apple Watch Ultra’s Wayfinder screen which shows elevations, location coordinates, and more. With the Wayfinder face on the watch, turn the Digital Crown to turn on Night Mode and turn it the other way to turn it off. Again, with watchOS 10, the Apple Watch Ultra will use ambient light sensors to automatically determine whether to activate the feature.
    It is important to note that the Night Mode feature works only with the Wayfinder watch face on the Apple Watch Ultra so if you plan on using Night Mode manually or automatically, you are going to need to have this watch face selected for the timepiece. It isn’t known whether having Auto Night Mode enabled will be the default setting for watchOS 10 on the Apple Watch Ultra although it probably should be. That’s because enabling Night Mode in watchOS 10 on Apple’s premium smartwatch might be more of a pain since spinning the Digital Crown in that build will control the new widgets.
    To make things easier, Apple Watch Ultra users will probably want to ensure that Night Mode using the Wayfinder face is enabled if it isn’t activated by watchOS 10.
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  • One in five Vietnamese spend 9 hours a day online

    One in five Vietnamese spend 9 hours a day online

    A total 22% of Vietnamese use the internet for more than nine hours a day studying, entertainment and shopping, with the majority on their smartphones, a report has found.

    This is a surge from 2020 when only 9% of respondents used the internet for more than nine hours a day, according to the Vietnam E-commerce 2022 report by the Vietnam e-Commerce and Digital Economy Agency (iDEA).

    However, there were declines in internet usage time in other segments. As many as 27% say they use the internet from three to five hours a day, compared to 31% in 2020. Besides, 23% log five to seven hours, against 27% in 2020. Most respondents access the internet on their smartphones.

    The main reason Vietnamese people use the internet are studying, watching movies or listening to music, and online shopping said the report, which surveyed 4,584 respondents nationwide.

    Nearly 75% of respondents say they shop online, while 91% use their smartphones.

    The top sales categories are “clothes, footwear and cosmetics,” “household appliances”, and “electronic devices”. Cash remains king as 73% pay cash on delivery. But there is a rise in e-wallet usage, from 23% in 2020 to 37% last year. A quarter of respondents, 24%, say they spend more than VND10 million ($422) a year shopping online.

    Reputation of an e-commerce platform is the most important factor for online consumers, according to 74% of respondents.

    Other key factors are quick delivery and promotions.

    Vietnam’s e-commerce economy is set to grow 20% to 16.4 billion this year, approaching the 25% growth achieved in 2019 before the Covid-19 pandemic.

    iDEA estimates that at least 57 million people will shop online this year, up 4% from 2021.

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  • Swiss watch brand Norqain opens first store in Asia

    Swiss watch brand Norqain opens first store in Asia

    Swiss-made watch brand Norqain has made its debut in Singapore, as part of an expansion into the Asia market.  The watch retailer has collaborated with Southeast Asia distributor Melchers, a Singapore branch of Melchers Group, for the launch. This is also the brand’s second global flagship store after the first opened in Zermatt, Switzerland, last year.  Norqain says the new store, located on Orchard Road, aims to replicate the feeling of the Swiss Alps, features an original ski-lift ch

    Norqain says the new store, located on Orchard Road, aims to replicate the feeling of the Swiss Alps, features an original ski-lift chair from Zermatt.

    The store’s interior was inspired by the Swiss Alps, with black, blue, and white as the primary colours running throughout the space. There is also a wooden bar inside the store.

    Norqain says on its Instagram that it wants to convey to customers “a real feel for the Norqain world and the Norqainer spirit”.

    The family-owned Swiss watch company is based in Nidau (Bienne), the heart of the Swiss watch industry. Founded in 2018, it makes mechanical automatic watches designed in-house.

    Jean-Claude Biver, a well-known Luxembourgish-Swiss watchmaker who used to serve as president of the LVMH Watch Division, announced in June that he would join Norqain’s board as an advisor.

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  • Timex goes after Apple Watch with hypocritical billboard

    Timex goes after Apple Watch with hypocritical billboard

    Surely no one in the wristwatch industry expected the Apple Watch to have an amazing success that it has experienced so far. First released in April 2015, Apple’s original plan was to promote the timepiece as fashionable jewelry. But it quickly became apparent to Apple that the wearable was selling as part of the Apple eco-system and as a tech device in its own right. Apple pulled the device out of high-end jewelry stores and focused on carrier and department store sales.
    Eventually, the wearable became known for its health-related features that no doubt helped to drive sales. Now, the Apple Watch is the most popular watch on the planet. That’s right, the Apple Watch outsells every other watch on Earth and that includes your famous luxury brands like Rolex, other more downscale brands like Seiko, affordable brands like Casio, and of course, mid-to-low-end brands like Timex.
    Timex has been around since 1854 and has thus seen plenty of trends in the wristwatch market over the last 168 years. But we’d venture to guess that nothing has impacted the company more than the smartwatch, especially the Apple Watch. Timex decided to take on Apple and its timepiece on a billboard in New York City (yes, the “Big Apple”) that promotes its new $140 analog watch which was developed in partnership with a Brooklyn clothing company called Adsum.
    Even though this watch is sold out, Timex continues to have its billboard passing along the message that it wants Apple Watch users to read. “Know the time without seeing you have 1,249 unanswered emails,” the copy says on the sign. That refers to the Apple Watch’s ability to pass along notifications about your emails.
    Yeah, there is some hypocrisy involved with the billboard. Timex does have its own line of smartwatches and guess what? They pass along notifications. In fact, the Timex website notes that its smartwatch “Plays nice with your phone” and adds that “Over a hundred years of watchmaking has taught us that your watch becomes part of your soul. With notifications and fitness sensors, that bond is even stronger.”
    And the iConnect by Timex smartwatch, which is out of stock on the Timex website but is available from online retailers, will show email notifications. In fact, one retailer states, “Stay connected wherever you are. You can receive texts, Facebook, WhatsApp and email notifications on the touchscreen display of your iConnect by Timex smartwatch.”
  • Oriental Watch bullish as sales

    Oriental Watch bullish as sales

    Oriental Watch (398 HK)announced it is proposing to buy back a maximum of 83 million shares at 3 HKD (249M HKD). This represents a premium over 57% vs the average 30-day closing price on HKex. Once the shares are bought back they will be canceled which will reduce total shares outstanding from 570 million to 478 million. A Special General Meeting (SGM) will be needed to approve the transaction, details of which are pending an official Offer Document. The full transaction has been covered by David Blennerhassett Oriental Watch (398 HK): Conditional Partial Offer 

    As long-time Oriental Watch followers let’s step back and assess what this means:

    • The controlling family’s stake will rise over 30% (depending on uptake 30.85-36.10%) but they won’t have to make a mandatory general offer as they have requested an exemption from HKex. Minority investors need to approve the transaction: we would advise minorities to vote IN FAVOR.
    • The founding family upping its stake at a significant premium to the latest stock price is bullish.
    • Even at 3 HKD, the shares trade far below their latest book value of 4.04 HKD.
    • With increased ownership management is now more incentivized to keep on paying large dividends going forward.
    • Mr. Market has been perenially mispricing Oriental Watch at negative enterprise value or barely above net cash over the last 5 years. As discussed at length in various previous insights we think this is wrong and the latest transaction again highlights the underlying value.
    • The company has returned 0.885 HKD/share in dividends over the past four years. When judging Oriental Watch’s share price performance please make sure you look up the total return on your Bloomberg.
    • Mainland China Rolex sales have been seeing YoY SSS increases of 40-80% since April (depending month to month). Once HK opens up SSS comps become very easy after 2019 (riots) and 2020 (Covid-19). Please re-read our insight on Oriental Watch being a way to play Rolex in China Oriental Watch: Bet on Rolex Demand in China/HK and Collect 12% Dividends While Waiting 
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  • WatchBox secures $165 million to fund expansion

    WatchBox secures $165 million to fund expansion

    Luxury watches online platform, WatchBox, has raised US$165 million of equity capital led by The Radcliff Companies and The Spruce House Partnership.

    The lead investors were also joined by CMIA Capital Partners together with other existing investors. The funds raised will be invested in scaling its digital platform and expanding into new markets, according to the company.

    “Our investors and partners hail from a wide range of industries, from consumer to technology, finance, and professional sports, yet we are all bound by our love of watches,” said Justin Reis, co-founder, and global CEO at WatchBox. “With that foundation, we are now able to use technology to create the best customer experience in the industry.”

    Founded in 2017 by Justin Reis, Tay Liam Wee, and Danny Govberg, WatchBox has global locations in the US, Hong Kong, Singapore, Switzerland, and Dubai, with additional locations on the way. WatchBox is endorsed by professional athletes and watch enthusiasts including Giannis Antetokounmpo, Chris Paul, Devin Booker, and Karl Anthony Towns.

    “We are reshaping the way high-value luxury is transacted online,” added Reis. “We built our proprietary concierge platform to enable efficiency and scale as we build personal connections with collectors around the world.”

  • Google Calendar adds new feature: Focus Time

    Google Calendar adds new feature: Focus Time

    Many of us rely on Google Calendar for a huge portion, if not all, of our work schedule. Meetings, important calls, even coffee with a coworker or friend—for plenty of us, it’s all slotted in right there on our Google Calendar profile, with notifications reminding us at all the right times. But sometimes, it can get a little overwhelming.

    And Google is aware of our reliance on its calendar app and working to further enhance users’ experience by introducing a new feature called Focus Time.

    It’s essentially something like an unobtrusive office manager who keeps everyone away to give you a quiet place to work, while also taking care of some of your scheduling for you.

    The main function of Focus Time is to allow you to section off important time for personal work that needs to get done, come what may. This keeps it visible on the calendar for you and anybody the calendar may be shared with, and also prevents your being assigned meetings during your scheduled heads-down time.

    Focus Time will be logged in Time Insights, where your time spent in meetings is also tracked—it will feature a headphone icon and you can assign a different color to your focus time, to set it apart from other events.

    Other than changing up the appearance of your work calendars, Focus Time can also automatically decline conflicting events while you slog away, without your lifting a finger.

    One scenario where we could see this going wrong is, you’ve got a tentative or rather arbitrary event scheduled in, such as “Coffee with Kate Tuesday 2pm maybe??” And unbeknownst to you, your boss requests an important meeting with you at the same time while you’re MIA in Focus Time—and he is automatically denied, because Google hasn’t quite reached the intelligence of differentiating varying levels of priority.

    But don’t worry, the “automatically decline events” feature is optional. The primary function is simply the ability to block out time for personal, uninterrupted work.

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  • Malaysia’s Industronics to launch online pre-owned watch platform

    Malaysia’s Industronics to launch online pre-owned watch platform

    Industronics Bhd is tapping on the US$17 billion pre-owned luxury watch market through Ecgo International Ltd, its wholly-owned subsidiary in Hong Kong.

    This follows the launch of Industronics’ luxury watch e-commerce platform, watch-exchanges.com.

    Executive director Datuk Chu Boon Tiong said based on data and overall market performance, the pre-owned luxury watch market showed promising growth prospects.

    “We are excited to capitalize on the growing trend with the launch of WatchExchange and aim to pave the way for a streamlined trading platform that will not only revolutionise the transactions of pre-owned luxury watches but drive further growth in this industry,” he said in a statement today.

    WatchExchange aims to be the first luxury watch e-commerce platform that issues authenticity certificates for pre-owned luxury watches in Malaysia and Asia Pacific.

    Some of the leading brands profiled are Audemars Piguet, Hublot, Patek Philippe, Tag Heuer, IWC, Omega, Jaeger LeCoultre, Panerai, Rolex and Breitling.

    Chu said pricing and demand for pre-owned luxury watches had been so strong over the last few years that even high-end watch brands were moving into the pre-owned market themselves.

    “However, the biggest challenge for the pre-owned luxury watch market lies in authenticating the watches.

    “Our role here is to ensure that the shoppers can safely purchase luxury watches on WatchExchange without having to worry about the security and authenticity of the pre-owned luxury watches,” he said.

    Industronics, with its team of professional and experienced watch appraisers, said it wanted to create a professional, safe trading environment that would elevate customers’ experience of purchasing pre-owned luxury watches to a new level.

    The company will set up offices in China, Hong Kong, Japan, Singapore, Malaysia, the United States, Canada and Europe, where sellers worldwide could visit for physical appraisals of their watch collections.

    The success of WatchExchange will depend on excellence in several key areas namely stability, sustainability, search engine optimization (SEO) and new media marketing.

    This will also require extensive funding to carry out both online advertising and offline promotional activities.

    Chu believes the competitive advantage for WatchExchange lies in the company’s ability to build a “unicorn” ecosystem around the region.

    “We do not think that the strength of the platform lies solely in the certification and authentication guarantees.

    “We intend to replicate the business models globally via partnerships with a locally listed company in the respective countries.

    “Among the markets that we are looking into are Malaysia, Singapore, Indonesia, Hong Kong, China and several emerging markets in Europe. Once our ecosystem matures, we will have so much more to offer to our customers, in terms of the variety of brands, models, and other services,” Chu said.

    According to a management consultancy firm Bain & Company, the global pre-owned luxury watch market was valued at US$17 billion in 2018.

    However, less than 20 per cent of that market is in the Asia Pacific region, while only 25 per cent of the total pre-owned luxury watch sales were online transactions.

    Euromonitor International, an independent strategic market research provider, estimates the value of retail sales of timepieces in Malaysia to grow by five per cent per annum between 2019 and 2022, to reach up to RM2.5 billion.

    Industronic is looking to set up a fund in Hong Kong to raise RM250 million from potential investors.

    Proceeds raised will be utilised to purchase different brands of luxury watches for resale on the company’s platform.

    Industronics aims to invest around RM25 million or 10 per cent of the total funding required, together with the Hong Kong Cyberport Fund, which will invest an equivalent amount or at a 1:1 ratio.

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