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"On the first day itself, over 650 customers were served...."

http://www.hungrygowhere.com/dining-guid...-ae713f00/

Strange! Have anyone asked why THG go into "Food Business"? Why diversification?

Reminds me of their Milano's days.
Was wondering whether it is part of their strategy to be a retailer of everything hi-end?

Will be good to ask this question in their coming AGM

(05-06-2013, 10:00 AM)Temperament Wrote: [ -> ]Strange! Have anyone asked why THG go into "Food Business"? Why diversification?

THG's Ladurée retail business as it is now is definitely very different from the failed Milano restaurant chain business some 10 years ago.

I was in the vincity last night and went to check out both premises. A few customers at 8pm+ on a weekday. From their conversation, most were there to try it out as they were curious abt the product. Some have no clue on what they are buying...

At $3.80 per piece, I doubt that there'll be enough biz if they rely on curious first timers..... I wonder if there'll be enough more affluent customers who are going to buy it on a regular basis..

Note that these are perishables and I was told they have to be consumed within 4 days.

PS. It tastes good... will try and compare with cheaper ones... noticed Delifrance selling it also. ..
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(05-06-2013, 11:37 AM)dydx Wrote: [ -> ]THG's Ladurée retail business as it is now is definitely very different from the failed Milano restaurant chain business some 10 years ago.

Not sure about that (yet).

Regardless, the Ladurée is an established chain. Was the Milano restaurant an established brand name?

Looks like macarons may not be as uncommonly found in Singapore as I thought. I was passing by a pastry shop today and saw them selling it at 10-for-$12.

[Image: 2r6k1u8.jpg]

After tasting it, IMO, altho' it's not as good as those from Ladurée, I'm not a connoisseur of macarons and if I do have to eat some, the much cheaper pastry shop ones would be good enough for me... Perhaps it's very much like fine wines - if one is unable to appreciate, no diff whether one drink from a $20 bottle or a $200 bottle...

I just checked wiki for more info and in some other countries, even McDonald's is selling it....

IMO, it looks more like a fad item for now in Singapore... Perhaps we'll soon see some local bakeries selling it at 5-for-$2 soon.. It'd be interesting to see how it fares in the longer run..

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As promised, I finally went to check out the DeliFrance ones... $1.70 each or promo 8-for-$12.80. Taste-wise, like the price, it feels like something in between the other two.

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PS. I consider my studies (to satisfy my curiosity) done. I have had enough of macarons tasting for now .... kind of leave a funny aftertaste feeling on my tongue that I'm not used to, most likely from the jam / filling..

FY13 (ended 31Mar13) AR is out and certainly worth a serious read.....
http://www.thehourglass.com/pdf/THG%20An...ne2013.pdf

I now look forward to the $0.055/share Final cash dividend, which should be paid early Aug.

seems like inventory levels are getting a bit too high, I think they made a mistake to stock up so much as sales has been slowing down
I think net profit margins might come down a little as everyone rushes to clear some stock
however I'm still very positive on their long term fundamentals

Swiss watchmaking in May 2013
Level less high than in 2012

The value of Swiss watch exports fell by 3.9% compared to May 2012. Registering a total of 1.8 billion francs, the level remains high but suffered in particular from an unfavourable base effect. Over five months, growth slowed to +1.7%.

The decline in May is mainly attributable to gold watches. In value terms, bimetallic timepieces lost ground slightly, while steel products recorded a positive trend. The total number of timepieces exported continued its steady decline, with the categories of other materials and other metals exerting a downward pull. Over five months, 840,000 fewer watches were exported (-7.3%).

Only watches between 200 and 500 francs (export price) showed a positive result in May. This was significant, but affected only a limited number of timepieces. Other segments registered a downturn, in some cases quite pronounced. Timepieces costing less than 200 francs saw their volume contract by 14.2%. Between 500 and 3,000 francs, the decline was nearer 7%. Watches costing more than 3,000 francs recorded their first monthly decline in more than three years, a relatively minor setback however since the value fell by 4.1% from a very high level in May 2012.

Among the main markets, Hong Kong, China and France registered two-digit declines. The United States recorded a value comparable to May 2012. Italy and Germany continued to grow, but at a slower rate.

Source: FHS

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Signs of slow down in the luxury watch segment.