(16-01-2017, 07:04 PM)Bibi Wrote: [ -> ]Pardon my ignorance. What is the avg price of a watch sold by THG? If its in the S$100k region, then i believe pp might want to go down to see and try before committing such an amt? Anybody buy cars via online?
When i ask myself: "do i want to buy high end stuffs online??" Yes, but it is just a channel to buy, I will still go down personally to store to search and tryout (even buying clothes i will do that).
Same as buying house & car, no?
Maybe bcos i am not rich. Lolx
If I'm buying something expensive, I would definitely check out the physical goods, but I would also search online to make sure I have the best deal possible taking into account foreign exchange, shipping, warranty, service and maintenance cost etc.
Quoting directly from The Hourglass Annual Report 2016:
Quote:Lastly, every luxury consumer today is a global shopper. And as technology continues to discombobulate shopping in the form of online category killer classifieds, online marketplaces and price comparison apps offering enhanced object recognition software, we believe that brands will trend towards ensuring that there is less retail pricing dissonance globally and advance towards a higher degree of pricing parity between markets. External factors that will also have to be closely monitored are how exchange rate fluctuations contribute almost immediately to the flow of shoppers to the lowest priced markets. We witnessed that when both the Yen and Australian Dollar depreciated against the US Dollar and the Hong Kong Dollar. Overnight, tourist spend in our boutiques in Japan and Australia rose to 40% of overall sales. So how a brand sets their prices in each capital city will have to take account such flows as the sophisticated Asian luxury shopper traverses the world seeking arbitrage.
The industry has shifted, and the management recognizes it.
looks like have to setup hedging/forex trades...
Moving some of the operation online is just one way to mitigate running cost, so as to improve margin and help transfer the cost savings to the customer. I am sure there are other ways out there.
But in order to succeed, they must try to remain price (or at least, value) competitive with global competitors.
THG is in no shape to complete with no online presences, and yet it cannot be like amazon...
guess it's time to look for a sensible online partner to kick-start this relationship....rather then do it organically...
Last results are good in my humble opinion, sales are up, profit down but much better compare to others. Price book of 1. Will love to see details about Laduree or investment properties.
yes, steady results, looks like a slow burn all the way to 2020?!!
it's trading at NAV now, so interested parties can buy in and slowly accumulate...
Source: Singapore Exchange
Type: Announcements of Earnings
From: 25/May/2017
The Hour Glass Limited announced unaudited group earnings results for the full year ended March 31, 2017. For the full year, the company reported total revenue and other income of $703,952,000 compared with $714,029,000 for the same period a year ago. Profit before taxation was $62,994,000 compared with $66,968,000 for the same period a year ago. Profit attributable to owners of the company was $48,698,000 or 6.91 cents per basic and diluted share compared with $52,324,000 or 7.42 cents per basic and diluted share for the same period a year ago. Net cash flows from operating activities was $66,535,000 compared with $21,319,000 for the same period a year ago. Purchase of property, plant and equipment was $9,422,000 compared with $10,866,000 for the same period a year ago.
Hour Glass co-founder faces court action for contempt
07 Jul 2017 09:00
By Selina Lum
Prominent businesswoman Jannie Chan is facing possible jail time and a fine for contempt of court proceedings brought by her former husband, who said she had sent him hundreds of allegedly harassing and defamatory e-mail messages.
Ms Chan, 72, who co-founded luxury watch retailer The Hour Glass with former husband Henry Tay, 73, and is widely recognised as the face of the public-listed company, was in court yesterday to explain her intentions in sending the e-mails.
She said they were largely updates on matters relating to their daughter Audrey and her children, and the companies owned by her and Dr Tay. The couple ended their 41-year marriage in 2010.
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Source: Straits Times