dydx noted THG is refurbishing Scotts Road outlet to carry mainly Rolex and PP, not sure if it will be stand-alone boutique. I do not think THG is willing to invest in these 2 brands if they are not confident of the manovouring behind the scene.
Has PP or Rolex announced their new distributor yet? Or maybe they are going to do it alone and be the distributor themselves?
(30-08-2012, 12:02 PM)guru Wrote: [ -> ]dydx noted THG is refurbishing Scotts Road outlet to carry mainly Rolex and PP, not sure if it will be stand-alone boutique. I do not think THG is willing to invest in these 2 brands if they are not confident of the manovouring behind the scene.
Has PP or Rolex announced their new distributor yet? Or maybe they are going to do it alone and be the distributor themselves?
Dear guru, Hour Glass already carry these two brands as part of their offering. As for investment into brand building, those who are into watches will know that these two brands sell themselves. Patek Phillipe is THE final word for atas watches - they choose their distributors, not the other way round.
A Patek low-end watch starts at about SGD30k each, going to to around SGD80k-300k for complications, and even higher for special orders. Note that Patek only manufactures about 50k watches per annum, and virtually all sells out every year so it is basically a bao jia business.
This is a highly positive news for THG - as it will mean that the Patek allocations originally designated for Sincere will flow into them. If I am the principal I will however be wary of the market power that THG will now have since I have effectively canned one of my major distributors.
Rolex will have no problems canning Sincere, as they have many more channels to head to the market apart from Sincere.
PP says several time that they are not distributor and will never be...their job is to make the best Watches in the world.
http://www.gmtsingapore.com/gmt/profile.htm
"GMT distributes Patek Philippe watches through an authorised network of retailers. There are currently 12 retail outlets in Singapore and another 11 in the capital cities of Malaysia, Thailand, Indonesia and the Philippines. Patek Philippe watch sales to Brunei are handled directly from Singapore"
Something I remember about PP distributor. Seems THG is merely a dealer/ retailer.
There's a Rolex Singapore Pte Ltd that Rolex owners will be familar when sending in the watch for servicing. Maybe they are the distributor?
Just based on financial profile - i.e. latest business volume/revenue, and balance sheet strength (equity, cash resource, and available borrowing capacity) - and forget about everything else, which among the 3 leading Singapore-headquartered watch retailers (i.e. THG, Sincere, and Cortina) do you think is the top choice of the top management of Rolex and Patek Philippe to expand their trading relationships with? I think the answer is quite obvious. If I were in their positions, I would definitely pick THG, also because the THG team is a stable one and has a superior track record in building their distribution/retail business.
Rolex, Patek call time on Sincere tie-up
Iconic brands to end partnership with watch chain 30august2012
[SINGAPORE] Amid the celebrations, came a shock.
Hong Kong billionairess Chu Yuet-Wat's joy at sealing a $232 million deal to buy Singapore-based luxury watch chain Sincere Watch has been tempered by a bombshell. Rolex and Patek Philippe have served notice that they no longer want Sincere as their retailer.
The two are among the best-known names in high-end timepieces.
The reasons for snapping their ties with Sincere are unclear but Kingston Chu, the new owner's 27-year-old son who has been appointed executive director at Sincere, says it still came as a surprise, despite forewarnings.
THG has put up a prominent Patek Philippe ad in the front-page of today's (5Sep12) ST - a first sign of an enlarged trading relationship with this very famous brand?
In the ad 4 THG outlets - Takashimaya S.C., Knightsbridge, Tang Plaza, and One Raffles Place - have been listed to have dedicated showcase for Patek Philippe watches, which obviously deserve special attention by the selected authourised retailers because of their high-price status.
If i don't make mistake, the new shop at Landmark Hong Kong will be a mono Brand Patek Philippe.
Cortina Share price has outperformed THG recently
(05-09-2012, 11:20 AM)propertyinvestor Wrote: [ -> ]Cortina Share price has outperformed THG recently
For investing, it's more of a marathon not a sprint.
Perhaps we should compare the share price performance over longer periods of time, plus dividend yields over the same period.