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  • DFS Group, will launch the eighth annual Masters of Time exhibition on December 3

    DFS Group, will launch the eighth annual Masters of Time exhibition on December 3

    DFS Group, the world’s leading luxury travel retailer, will launch the eighth annual Masters of Time exhibition on December 3, 2016 with a gala event at T Galleria by DFS, Macau in partnership with Shoppes at Four Seasons. Widely recognized as the world’s leading retail exhibition of fine watches and jewelry, this year’s Masters of Time event embraces the theme of relationships and is inspired by the close bonds that inspire collectors when building their watch collections.

    By recognizing the significant life moments that are often commemorated through purchasing a timepiece, and understanding the thought process that accompanies the selection of a new watch, DFS Group becomes a part of every watch’s story. The relationships between luxury retailers and their prestigious clientele, between a customer and their timepiece, are all explored throughout the program. The exclusive exhibition of over 400 pieces from 27 brands will be shown in store at T Galleria by DFS and available for purchase until February 28, 2017.

    This year DFS expands the experience to members of the public as, in addition to the prestigious gala event, they will be able to experience and enjoy a wide array of activations. TAG Heuer will offer a virtual reality experience from August to December; the Franck Muller flagship boutique opens at the end of November; Girard Perregaux celebrates its 225th anniversary with an exhibition during December; and Bulgari will house the Finissimo Minute Repeater exhibition with experiential and educational activities from November to February 2017. Cartier will celebrate the concept of time with a showcase of some of the maison’s most exceptional creations from the high watchmaking and high jewelry worlds.

    “For over 500 years, the watchmaking industry and its craftsmen have worked to encapsulate time in the form of a watch. This year’s Masters of Time not only celebrates the relationship between man and machine, but also the pivotal moments and relationships in life we all seek to commemorate. We’re thrilled to once again host the world’s top collectors and explore  those relationships and the meaning behind these precious pieces, and of course to take a privileged first look at this exceptional Masters of Time collection,” said Philippe Schaus, DFS Group Chairman and Chief Executive Officer.

    Christophe Chaix, DFS Group Senior Vice President Fashion, Watches, Jewelry and Accessories, added, “This year’s Master of Time exhibition showcases an exclusive range of luxury watches and fine jewelry that perfectly epitomizes the latest and most cutting-edge innovations and designs in watchmaking. Through our partnerships with the world’s leading watch and fine jewelry brands, we are able to curate a truly unique and unparalleled exhibition and provide our loyal customers with an unmissable opportunity to build their collection with DFS.”

    2016 DFS MASTERS OF TIME COLLECTION

    This year’s exhibition includes exclusive pieces from brands including: Arnold & Son; Angelus; Blancpain; Breguet; Bulgari; Cartier; Chopard; Franck Muller; Girard-Perregaux; Glashütte Original; Hautlence; H. Moser & Cie; Hermès; Hublot; IWC Schaffhausen; Jaeger-LeCoultre; Jaquet Droz; Manufacture Royale; Officine Panerai; Omega; Piaget; Roger Dubuis; Speake Marin; Tiffany & Co.; Vacheron Constantin; Van Cleef & Arpels; Zenith and more. 

    Highlights include:

    • Breguet’s Tradition Independent Chronograph 7077
    • Bulgari’s Octo Finissimo Répétition Minutes
    • Cartier’s Panther High Jewelry Watch with two panther heads decor
    • Girard-Perregaux’s La Esmeralda Tourbillon
    • Glashütte Original’s Senator Excellence
    • Hautlence’s Labyrinth
    • Moser & Cie’s Swiss Alp Watch S.
    • Jacquet Droz’s Petite Heure Minute Thousand Year Lights
    • Jaeger-LeCoultre’s Rendez-vous Moon
    • Roger Dubuis’ Blossom Velvet Blue
    • Vacheron Constantin’s Overseas World Time
    • Van Cleef & Arpels’ Jour Nuit Fée Ondine
    • Zenith’s Heritage Pilot Ton-Up 

    DFS Masters of Time is part of the DFS Masters Series, a signature program of exhibitions that also includes Masters of Wines and Spirits that takes place in Singapore. The Masters Series is a showcase of the pinnacle of DFS’ leadership and innovation in curating and creating exceptional experiences across its five pillars of luxury: Wines and Spirits, Beauty and Fragrances, Watches and Jewelry, Fashion and Accessories, and Food and Gifts.

  • Citizen Watch signs Takeshi Kaneshiro for new campaign

    Citizen Watch signs Takeshi Kaneshiro for new campaign

    The summer of 2010 sees Citizen Watch (China) Co., Ltd., and Citizen Watches (H.K.) Ltd. revamping their brand image based on the fitting theme “Innovation, Powered by Willpower”. One of Asia’s top international actors, Takeshi Kaneshiro has officially been signed as the new brand ambassador to launch Citizen’s largest campaign in the history in China and the Asian region.

    In the world of wrist watches, Citizen has always been in the forefront in the deliverance of innovative functionalities. Eco-Drive, Radio-Controlled, and Titanium watches are just some of innovations by Citizen that revolutionised the world of wrist watches. And now with Takeshi Kaneshiro – who personifies sophistication, intelligence and inventiveness – fronting the new “Innovation, Powered by Willpower” themed campaign, Citizen will be embracing its vision to “extend the experience of the world embodied by the Citizen brand to individuals with innovative visions, who aspire to be innovative, and who are always one step ahead of the others”.

    Born on October 11th 1973 in Taiwan of mixed Japanese and Taiwanese parentage, Takeshi Kaneshiro has spread himself between cinema, dramas, and commercials. Some of Kaneshiro’s notable works include: the box-office hit Red Cliff (2008, 2009), K-20 Kaijin Nijumenso Den (2009), The Warlords (2008).

    The shooting of Takeshi Kaneshiro for Citizen’s new campaign was commissioned to world-famous photographer, Kaoru Ijima, who successfully captured Kaneshiro’s steely willpower and sophisticated aura in the advertisements that will resonate with consumers everywhere. Thus, through the astute collaboration between Kaneshiro and Ijima, was born a new innovative campaign visual for Citizen that will reinforce its image as the “ Symbol of Innovative Thinking “.

    True to its brand DNA, Citizen’s new range of Eco-Drive Super Titanium watches – to be launched in Malaysia in Sept 2010 – promises to be highly innovative, with eco-friendly features and sophisticated designs.

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  • Apple focuses on health and fitness for Watch 2

    Apple focuses on health and fitness for Watch 2

    Apple is forging a new identity for its smartwatch line, an increasingly niche brand personality that focuses mainly on health and fitness.

    “We’re thrilled with the response to Apple Watch and how it’s changed people’s lives. We are committed to fitness and health and think our customers will love the new capabilities of Apple Watch Series 2,” said Jeff Williams, Apple’s chief operating officer.

    In the past 18 months since it was introduced in the market, the Apple Watch has increasingly veered toward health fitness.

    The newly unveiled Apple Watch Series 2 comes even more packed with fitness and health capabilities including a water resistance 50 meter rating for swimming, and built-in GPS so users can now run without an iPhone.

    Apple also developed all-new algorithms for swimmers after hundreds of hours of research for two new workout options, pool and open water. The watch can count laps, track average lap pace and auto-detect stroke type to accurately measure active calorie burn.

    With built-in GPS, Apple Watch Series 2 records precise distance, pace and speed for outdoor workouts such as walking, running or cycling, without needing to take an iPhone.

    Users can also begin an outdoor workout immediately as Apple Watch Series 2 uses Wi-Fi, GPS and locally stored satellite data to quickly identify their location. On completion of an outdoor workout, view a route map that shows variations in speed in the Activity app on iPhone.

    Whether running, going for a swim or walking between meetings, the Activity app on Apple Watch Series 2 counts all daily activity towards the Stand, Move and Exercise rings.

    Combined with the performance enhancements of watchOS 3 announced in June, the Apple Watch Series 2 makes it even easier to access third-party apps, receive and respond to notifications and conveniently use Apple Pay.

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  • Rising Asian start-up, “Pomo House” leads IoT products for Baby&Kids

    Rising Asian start-up, “Pomo House” leads IoT products for Baby&Kids

    Pomo House International, the leading brand of a child loss prevention smart watch and other innovative gadgets for modern family has successfully made a hit in SEA and is now expanding its brand to Europe, USA and LTA. “I believe the most important thing enabling me to become successful is to do what I love. There are always obstacles and a chance of going bankrupt in every businesses. However, if we do the business we love, we will have strength to move on”, says Mr. Chatchai Tangchittrong, Director of Pomo House International Co.,Ltd.

    “POMO Kids Watch is our first product that corresponds to our concept “Family Love is All Around”. Besides generating business, we have planned to lift up social awareness regarding family’s care and mutual happiness between parents and their kids.” The ideas of inventing the product to support family’s love and preventing missing children have been combined and conveyed through the development of what becomes child loss prevention smart watch to connect family members anywhere they are and allow children to explore the world with safety.

    With great success of the first two series of child loss prevention smart watch “Pomo Rainbow” and “Pomo Moji”, Pomo House has continued to develop the latest series called “Pomo R2”. This exclusive child loss prevention smart watch is equipped with unique functions that parents and their kids can enjoy together. Triple-Mode Smart Locator (Wi-Fi/GPS/LBS), splash proof and color touch screen are outstanding features of this model.

    This year Pomo House is launching a new product called “POMO Bebe,” another high technology of gadget for newborn baby. Coming with the concept of “God Fairy”, your baby will always be safe and protected. This device is designed to solve parents’ concern on their baby’s health. This latest innovation comes with unique features such as temperature scan mode, sleep quality, movement tracking and child loss prevention. “We realize how meaningful it is for parents to experience the moment when their baby opens the eyes to see the world. The first concern for baby is fever as it can affect baby’s immune system. Therefore, this device can be a little gift performing as a guardian for your little angel”, says Mr.Chatchai.

    Pomo House is also secretly working on product development process for another new innovation to answer every parents and their kids’ lifestyle. This product is expected to be released into the market by the end of this year.

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  • World’s Largest Watch & Clock Fair Opens in Hong Kong

    World’s Largest Watch & Clock Fair Opens in Hong Kong

    The 35th HKTDC Hong Kong Watch & Clock Fair, the world’s largest timepiece event of its kind, opened today and continues through 10 September at the Hong Kong Convention and Exhibition Centre (HKCEC). Organised by Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd and the Federation of Hong Kong Watch Trades and Industries Ltd, the fair features more than 800 exhibitors from 27 countries and regions, including first-time participating countries and brands from Australia, Hungary, Iran, Lithuania, Monaco, Thailand and Turkey.

    Gregory So, Secretary for Commerce and Economic Development of the Hong Kong SAR Government, was guest of honour at this morning’s opening ceremony. A highlight of the five-day fair is Salon de TE, a top-tier brand showcase for the trade that will also be open to public visitors (aged 12 or above) free of charge on the last day of the fair (10 September), with timepieces from more than 80 brands available for sale to the public.

    Premium watches at Salon de TE

    Salon de TE spotlights premium watch brands and unique watch designs, gathering 150 international brands at five thematic zones: World Brand Piazza, Chic & Trendy, Craft Treasure, Renaissance Moment and Wearable Tech. World Brand Piazza presents artisan masterpieces from 13 renowned international brands, including Blancpain, BOVET, Breguet, BVLGARI, Chopard, CORUM, DeWitt, FRANCK MULLER, Glashutte Original, H. Moser & Cie, Jaeger-LeCoultre, Piaget and Zenith.

    Chic & Trendy gathers a wide range of stylish wrist watches. Craft Treasure showcases high-end functional mechanical watches and jewellery watches. Renaissance Moment presents classic European watches in various styles, including the Swiss Eminence pavilion showcasing six top-quality Swiss brands and the Swiss Independent Watchmaking pavilion showcasing seven Swiss independent watchmakers’ collections. Wearable Tech features watches that combine new technology and stylish design.

    Salon de TE and the Watch & Clock Fair gather a wide range of eye-catching wrist watches, including:

    – Piaget’s world’s slimmest mechanical jewellery wrist watch Altiplano, priced at over HK$1.4 million. (around US$181000) (Booth no.: 3E-WBP)

    – Jaeger-LeCoultre’s Reverso Cordonnet Duetto, featuring a double-dial design with a single movement driving both front and back dials to show time, valued at HK$1.9 million. (around US$245000) (Booth no.: 3E-WBP)

    – Boegli’s Grand Opera series musical watches are equipped with a musical module and mechanical movement, capable of producing 17 notes to play classical musical pieces. Only 99 pieces are available for this limited edition watch. (Booth no.: 3E-D44)

    – Kronsegler’s da Vinci automatic mechanical watch KS 745 combines art with function by featuring a rotating 24-dial of Da Vinci’s Vitruvian Man with the figure’s head indicating the current time. (Booth No.: 3D-B43)

    – Memorigin’s Marco Fu watch series is themed around snooker with three black diamonds set at the 1, 4 and 7 dial markers, representing snooker player Mr Fu’s 147-point scoring record. (Booth No.: 3E-E18)

    – AKTEO’s finance-themed watch Wall Street 42, in which the hour hand shows the Wall Street Journal, the minute hand a US bank note, and the second hand a 999.9 gold bar. (Booth No.: 3D-A38)

    – FIYTA’s 3D Time, which emphasises 3D art, was awarded the Red Dot Academy Awards in industrial design in 2014. (Booth No.: 3E-E37)

    Smart watches as market spotlight

    Responding to the increasing popularity of smart watches, the industry is focused on creating more high-tech timepieces. Pure Performance Distribution Limited’s Garmin fenix(R) 3 HR multisport training GPS watch, with feature sets for fitness training and outdoor navigation, provides users with reliable fitness and GPS data for their daily life and for professional training. As such, this year’s fair introduces a new zone, OEM Smart Watches, showcasing the latest OEM designs. Among the exhibits, Montrichard (HK) Ltd’s smart watch Chronologia is capable of dual-time display and alarm, and can be connected to a smartphone to display lost-phone notification, SMS, fitness tips and more.

    Another dedicated zone, Pageant of Eternity returns this year to spotlight an endless range of complete watches. Other exhibiting categories consist of Complete Watches, Clocks, Machinery & Equipment, Packaging, Parts & Components and Trade Services.

    Over 70 buyer missions coming to do business

    During the fair period, the HKTDC has organised more than 70 buyer missions, comprising about 4,000 buyers from 50 countries and regions, including renowned watch and clock manufacturers, buyers and retailers, such as Rivoli Group from the Unite Arab Emirates, Abiste from Japan, Dakota Watch from the United States, Birks Group from Canada, Gmarket from South Korea, S Bacher & Co. from South Africa and Crystal Time from Singapore. Apart from Salon de TE, the popular hktdc.com Small Orders zone is featured in the lobby of Hall 1D with some 160 clock and watch showcases, targeting buyers looking to source products in minimum quantities of five to 1,000 pieces. Some of the items are also available for orders online. The award-winning entries of the 33rd Hong Kong Watch & Clock Competition are also on display in the lobby of Hall 1B to showcase local designs to international buyers.

    More than 30 events, including seminars, networking events and watch parades will be organised during the fair period to facilitate exchange of market information among industry players. Highlighted events include the Hong Kong International Watch Forum held this afternoon while the Asian Watch Conference, to be held tomorrow afternoon, will look at developing trends related to the smart wearable tech sector and the Internet. Celebrities, including Alex Lee, Lisa Ch’ng, Derek Wong, Karena Ng, Wong You-nam, Ma Wing-shing and Marco Fu, will take part in product launches. On Public Day (10 September), visitors can take part in a series of entertaining activities as well as two lucky prize draws.

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  • Kemper introduces air monitoring system

    Kemper introduces air monitoring system

    Clearly verify the presence of dust in production: Companies check the hall air quality efficiently with the new air monitoring system AirWatch. Kemper GmbH’s sensor technology is able to determine and document the number and weight of nanoparticles and then analyze it with smartphone, tablet or PC and compare it to limit values.

    Raising employees’ awareness regarding fine dust risk.

    A traffic light display visualizes permanently the status of air quality. The system is suited for any workplace in production facilities, warehouses and logistics halls. With AirWatch, Kemper wants to raise awareness of the dangers behind fine dust.

    “With our new air monitoring system AirWatch, we introduce for the first time a system on the market that is in a position to efficiently measure the number of fine dust particles,” emphasizes Björn Kemper, Managing Director of Kemper GmbH. For this purpose, the highly sensitive sensor technology is essential as it can capture particles right up to the nano range.

    Checks are not depending on the workplace

    Whether industrial production facility, warehouse or logistics operation: AirWatch continuously monitors the air quality regardless of the type of workplace. The air monitoring system measures fine dust particles in a radius of up to 30 meters using a laser-powered sensor. An integrated fan draws in ambient air.

    It is possible to save individual limit values for hazardous substances. A traffic light shows the current air quality level measured against these values. At the same time, the system saves the data across a long time period. Users access the data simply using a smartphone, tablet or PC. A trend display for day, week, month or year also allows companies to analyze concentration of hazardous substances in more detail.

    Verify the presence of fine dust according to WHO standards

    AirWatch captures particles in the range of 100 nanometers up to 16 micrometers. This area includes the fine dust categories PM2.5 for alveolar common dust (A dust) and PM10 for all inhalable dusts (E dust) as defined by WHO. AirWatch automatically classifies the captured particles accordingly.

    In addition to checking the air quality, AirWatch also monitors the effectiveness of ventilation measures. Companies can independently check their compliance with regulations issued by professional associations apart from official checks made by professional associations.

    Highlight the value of employee health
    With the system, Kemper aims to raise awareness of the fine dust risk. “Companies are wise to continuously check air quality with regards to employee productivity.” Yet, dust in warehouses is also a threat to the quality of products and can develop into a tremendous cost factor.

    A best-practice example shows how it is done: Once the Airwatch traffic light jumps to red at the workplace of a metal processor, the employees ask the welder to switch on the extraction and filter plant. “Not only employees consider their health more thanks to AirWatch,” explains Kemper. Employers show that they consider their employees’ health as important. “Within the framework of a successful recruitment of specialists, they place themselves as a sustainable business.”

    Verify hazards despite adherence to limit values

    Counting fine dust particles has great advantage compared to applicable limit values, which analyze the weight of fine dust: If coarse dust particles in the production move around then a limit value is surpassed quickly.

    Mr Kemper explains that the invisible fine dust on the other hand often remains undetected – with fatal consequences: “Millions of fine dust particles which do not reach the weight of the specified limit value make employees sick.”

    Even if the limit value is adhered to, a permanent exposure to fine dust can lead to serious health problems. Current studies show that fine dust is the cause of increased heart attack risk, accelerates dementia, causes cancer and may even lead to death. The WHO classes fine dust as a direct cause of lung cancer.

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  • POMO HOUSE continues to the second year send the watch to prevent missing children

    POMO HOUSE continues to the second year send the watch to prevent missing children

    POMO HOUSE founder and the Distributor Pomo Kids Watch the ultimate intelligent watch  that can help you keep track of the behavior of the children. To launch the new model  for children. The latest version comes with new functions to improve performance and accuracy of the technology in the following ,call a close friend, turn off the phone time to study, easy to install just enter your micro SIM card and connect to your smart phone through the Parental Controls application “POMO moji” include other functions that meet the safety of the child and create a good relationship between the children with friends and family.

    Ms. Supreeya Kanikananta, Chief Executive Officer of POMOHOUSE Co.,Ltd. revealed that “after our company has officially launched on May 2015. The product is  success  for target because we are  pioneer of the market  in Thailand as well as to support the needs of parents. The current case of children have lost  which we feel proud to come  to help the family and the Thai society at this point.

    After product launch to market. We have more storage to  development of our products to meet the needs of the target groups to be more so we have developed the second which is the name “Moji” for the new model has additional development up from the first models in several items. Such as the talk with close friend with program  “the best friend forever”, location with the 3 Best Technology is the triple mode tracking (Wi-fi and GPS) to adjust to the clock mode to the classroom, Performance Guides,  the capacity of the battery, 600MAH standby mode to up to two days, and including the journey history that can view history data.

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    From the our details, “Pomo Moji”. This is another great innovation of Thai people who develop to the maximum of the technology at the present and solve the problem to the parents in the things that are concerned.

    For this year POMO HOUSE ready to step up to be a leader in the market the watch prevent missing children.  We have the confidence in the title of the team that developed the Software Warranty after the sale and that the center after-sales service that the customer can also take the appliance to a service. For the marketing Pomo Kids Watch model “Moji”. We put the marketing budget  for marketing activity is about 5 millions baht in the investment that will be the production of the activities to promote sales and marketing, public relations on both online and offline. We are confident that it will be able to grow up to more than 3 times from the previous year.

    And now we expand the market to the AEC and Europe. Whether  is the Russian, Finland, Netherlands, Indonesia ,Malaysia and Singapore. Especially at Singapore we have registered a new company that was in the name “Pomo International” with the Singapore partner in order to help the market to  the AEC quickly. And in the future we will open the market in Japan, Australia and North America, overall, expects that it will make the market value to the company is not less than 200 million baht.

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  • Watchmaker Tudor Says Hong Kong Market Could Get Even Worse

    Watchmaker Tudor Says Hong Kong Market Could Get Even Worse

    Tudor, Rolex’s sister brand, said the Hong Kong market may get worse as rich Chinese shop for luxury goods in markets with lower prices.

    Swiss watch exports to Hong Kong slid 25 percent in February, dropping for the 13th consecutive month, the Federation of the Swiss Watch Industry said Tuesday. There’s no swift turnaround in sight, according to Philippe Peverelli, chief executive officer of Tudor.

    “In mainland China we’ve already touched the bottom of the pool,” Peverelli said in an interview at the Baselworld watch fair. Demand has been improving there since the second half of 2015. “As for Hong Kong, I’ve never seen such a deep pool. We haven’t reached the bottom there yet.”

    The island city became the biggest export market for Switzerland’s timepieces almost a decade ago, luring well-off Chinese with lower luxury taxes on the mainland. In the past three years, however, the Chinese government’s crackdown on bribery and extravagance among government officials has weighed on the industry’s sales in the region, and currencies have made watches cheaper in other markets such as Japan.

    Last year Tudor got just under 60 percent of its sales from greater China, down from more than 90 percent in 2010. The company re-entered the U.S. and the U.K. in recent years and started selling its timepieces in duty-free retail shops in South Korea. The next country it plans to enter is Japan, which enjoyed a 22 percent gain in shipments last month.

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  • Swiss watch exports fall most in six years

    Swiss watch exports fall most in six years

    Watch exports from Switzerland had the biggest decline in six years with October marking a 39 percent slump in shipments to Hong Kong, which is the biggest market for Swiss watches.

    Overall, watch shipments declined 12 percent to 2 billion Swiss francs (AU$2.78 billion), the Swiss customs office said in a statement. Watch exports to the US also declined 12 percent, reports Bloomberg. Watch exports make a 10th of Switzerland’s total exports.

    “Year 2015 has been one to forget for the watchmakers,” wrote Jon Cox, the analyst with Kepler Cheuvreux in Zurich.

    On backfoot

    It was around 2008 when Hong Kong became the largest market for Swiss watches, overtaking the US market. That lead is now waning after seven years. As demand dropped, many watch makers from Switzerland are trying to pull back from Hong Kong with TAG Heuer having shut a store in August.

    Richemont, which makes Cartier jewelry and IWC timepieces, also  reported falling sales over weak demand.

    “Hong Kong’s share is likely going to remain somewhere above 10 percent in the medium-term after being over 20 percent a year ago,” analyst Cox said.

    One more reason that affected the demand for Swiss watches is the competition from Apple’s smart watch. The US watchmaker Fossil group reported its stock having plumbed 37 percent and on Nov. 13 it forecast a decline in fourth-quarter sales by 16 percent as competition from wearable technology is affecting its sales.

    Rising UK market

    Meanwhile, there is room for cheer with the UK emerging as the world’s fastest growing market for Swiss watchmakers, according to statistics from the Federation of the Swiss Watch Industry.

    According to data, in the 9 months from Jan to Sep 2015, exports of Swiss watches to the UK rose 20 percent compared to the same period in 2014. Britain has become the eighth largest market for the Swiss watch industry, reports Watch Pro.

    The report said Chinese government’s anti-corruption drive had its impact on the luxury retail sector in Hong Kong, where exports fell and the exports to China also crashed 9.2 percent.

    The top 10 Swiss watch export markets

    1.      Hong Kong

    2.      USA

    3.      China

    4.      Italy

    5.      Japan

    6.      France

    7.      Germany

    8.      UK

    9.      Singapore

    10.    UAE

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  • Watch retailer Stelux expects to slip into red

    Watch retailer Stelux expects to slip into red

    Hong Kong-listed watch and eyewear retailer Stelux Holdings International Ltd. said the company is expected to record a net loss for the six months ended September 30 this year, mainly hurt by the increase in borrowing costs of convertible bonds and less gross profit earned in Hong Kong, Macau and Southeast Asia.

    The company is known for its City Chain watch retail operation in both Hong Kong and Macau.
    The anticipated net loss is primarily attributable to a decrease in turnover and gross profit caused by weak retail sentiment, especially in Hong Kong, Macau and Southeast Asia, Stelux explained in its latest filing.

    An exchange loss of about HK$15 million (US$1.94 million) due to depreciation of currencies in Southeast Asia has also contributed to the expected net loss, the company said. ‘Despite the anticipated loss, the group is expected to report a positive operating profit; an improved gearing ratio (with a reduction in bank borrowings of approximately HK$130 million) and stable liquidity in the reporting period,’ Stelux said in the filing.
    Regarding the corresponding period in 2014, Stelux earned a net profit of over HK$105 million.

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  • Jewellery and watch firms top performers in luxury space

    Jewellery and watch firms top performers in luxury space

    India has bounced back and is confidently growing in the luxury markets as other BRIC countries struggle to gather pace, says Deloitte’s annual Global Powers of Luxury Goods report. By the end of last fiscal, world’s 100 largest luxury goods companies had generated sales of $214.2 billion despite currency headwinds and intense technological disruption.

    Developed economies like the US and Europe appear to be on the rebound, thus, boosting the purchasing power of upscale customers.  The Indian economy, too, is recovering from its slump. Jewellery and watch companies are top performers, producing the second-largest share of the luxury goods sale. Companies like Titan, Gitanjali Gems and PC Jeweller all make the cut as newcomers in the Deloitte’s top 100 luxury brands.

    The study also established that the channels on which luxury consumers shop are constantly evolving, making it critical for companies to understand the changing desires and buying behaviours.  “Several key aspects of the luxury sector will be unrecognisable in the next few years. The travelling luxury consumer will change the concept of national boundaries; millennial consumers will represent a significant percentage of sales volume in luxury; and the competitive forces driven by technology will continue to disrupt at a faster pace.” said Gaurav Gupta, senior director, Deloitte, India.

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  • Singapore greets Apple Watch with a shrug

    Singapore greets Apple Watch with a shrug

    In tech-savvy Singapore, new Apple products typically trigger snaking lines spanning multiple blocks, but the Apple Watch got short shrift.

    When stores on the city’s Orchard shopping district opened their doors at 9am, a group of around 40 had gathered at the iconic ION mall. Across the street, around 15 people were milling outside Paragon’s iStudio store while a crowd of around 25 lined up outside luxury watch store The Hour Glass.

    Because Singapore doesn’t have an Apple retail store, only select authorized re-sellers are allowed to carry the Cupertino giant’s products.

    “I was expecting a much longer queue, so this is good news for me,” exclaimed Mario Dinata, a mobile engineer waiting in line at iStudio.

    Indeed, the turnout pales in comparison to previous Apple launches in the wealthy Southeast Asian city-state. Last September, hundreds of fans queued for the iPhone 6 days before the official launch after slots for online pre-orders vanished in mere minutes.

    The smartwatch only becomes available on Apple Singapore’s online store on Friday afternoon and phone inquiries have been minimal in the past week, according to employees at the iStudio store.

    As an app developer, Dinata says he’s often first in line for the newest Apple toys so he can test it out before his competitors. “This is definitely much smaller than previous lines,” he said, smiling.

    None of the stores were able to provide a sales update by mid-morning, but judging by a brief survey of people in line, the Apple Watch Sport was by far the most in demand out of the three models.

    The 38mm Sport retails for $349, versus $549 for the Apple Watch. Local pricing of the third option, the luxury Apple Watch Edition crafted from 18-karat gold, remained unconfirmed by Friday morning.

    “If I had the money, I would buy the Edition model any day over a luxury Swiss watch,” remarked 56-year old Mrs. Li, who declined to give her first name. “I’m buying the Sport today since it’s the cheapest one available. I’m an Apple fan, so I have to get the Watch. I have all their other products.”

    The device has already hit the market elsewhere in the region following an April launch in Japan, China and Hong Kong. Aside from Singapore, the watch also goes in sale in six other countries Friday, including South Korea and Taiwan.

    Rob Enderle, president and principal analyst at technology advisory Enderle Group, doesn’t expect much hype going forward.

    “The Watch has one problem the iPhone didn’t have. Kids have stopped using watches some time ago, so Apple has to undo this perception that watches are for old folks and out of date,” he told CNBC. “This will likely go through three versions before reaching its stride, if it ever does.”

    Apple CEO Tim Cook has remained silent on global sales thus far, but 2.8 million units may have been sold since its April debut, Slice Intelligence told Reuters earlier this month.

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  • Jewelry and watch companies prime performers in luxurious area

    Jewelry and watch companies prime performers in luxurious area

    India has bounced again and is confidently rising within the luxurious markets as different BRIC nations wrestle to collect tempo, says Deloitte’s annual International Powers of Luxurious Items report. By the top of final fiscal, world’s 100 largest luxurious items corporations had generated gross sales of $214.2 billion regardless of foreign money headwinds and intense technological disruption. Developed economies just like the US and Europe look like on the rebound, thus, boosting the buying energy of upscale clients.

    The Indian financial system, too, is recovering from its stoop.Jewelry and watch corporations are prime performers, producing the second-largest share of the posh items sale. Corporations like Titan, Gitanjali Gems and PC Jeweller all make the minimize as newcomers within the Deloitte’s prime 100 luxurious manufacturers. The research additionally established that the channels on which luxurious shoppers store are always evolving, making it crucial for corporations to know the altering wishes and shopping for behaviours.

    “A number of key points of the posh sector shall be unrecognisable within the subsequent few years. The travelling luxurious shopper will change the idea of nationwide boundaries; millennial shoppers will characterize a big proportion of gross sales quantity in luxurious; and the aggressive forces pushed by know-how will proceed to disrupt at a quicker tempo.” stated Gaurav Gupta, senior director, Deloitte, India.

  • Thomas Sabo opens in VivoCity

    Thomas Sabo opens in VivoCity

    Jewelry and watch model Thomas Sabo has opened its new VivoCity boutique in a star-studded offical opening occasion.

    Situated within the newly opened B1 retail space of VivoCity – Singapore’s largest shopping center – the 565 sqft boutique options handcrafted jewelry items, displ;ayed in an surroundings greatest described as ‘basic trendy design’ providing shoppers a singular buying surroundings.

    Supermodel Georgia Might Jagger was the particular visitor for the opening, additionally attended by Rebecca Tan, Jaymee Ong, George Younger and Alan Wong.

    “I actually like the range of the Sterling Silver Assortment, particularly the Karma Beads impressed by Far-Japanese philosophies. You can also make your personal creation. At the moment I´m sporting the Koi fish, a press release piece and image of power, which matches so nicely with the Karma Beads that every have a person which means ,” stated Georgia Might Jagger.

    Thomas Sabo is among the globally-leading jewelry, watches and wonder corporations, designing, promoting and distributing way of life merchandise for men and women. The corporate, established in 1984 byThomas Sabo in Lauf an der Pegnitz, southern Germany, operates virtually 250 of its personal outlets throughout all 5 continents with a complete of round 1750 staff.

    Globally, Thomas Sabo collaborates with some 2600 commerce companions in addition to main airways.

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  • 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.

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