Company type | Public |
---|---|
SGX: AGS | |
Industry | Watch Retailer |
Founded | 1979 |
Headquarters | Singapore |
Area served | Singapore, Malaysia, Thailand, Vietnam, Hong Kong, Japan, Australia, New Zealand |
Key people | Dr Henry Tay (Executive Chairman) |
Products | Wristwatches |
Revenue | S$691.6 million (2018) |
S$50.7 million (2018) | |
Website | thehourglass.com |
The Hour Glass Limited (SGX : AGS ) [1] is a Singapore-based specialty luxury watch retail group. [2] The Hour Glass' has multi-brand and standalone boutiques in Singapore, Kuala Lumpur, Bangkok, Phuket, Ho Chi Minh, Hanoi, Hong Kong, Tokyo, Sydney, Melbourne and Brisbane. [3] It works as the official retailer for a number of luxury watch brands. [4]
The group also deals in luxury properties and owns high-end retail and commercial properties throughout Asia. A notable example was the purchase of two high-end Australian properties for $37.2 million in 2015. [5]
The group also owns Watches of Switzerland, a watch retail chain in Singapore that deals in mid-tier to high-end Swiss timepieces. The group acquired the chain in October 2014 from the Jay Gee Melwani Group for $13.3 million. [6] [7]
The Hour Glass (“THG”) was founded in 1979 by Dr. Henry Tay and Dato' Dr. Jannie Tay. [8] The first store was opened at Lucky Plaza in partnership with Metro Holdings and was a one-of-its-kind store during its time. Dr. Jannie Tay was the managing director of the company and led it for the first 25 years.
The company was eventually bought out by Metro Holdings in 1987. The company ventured into overseas business expansion, and also bought into other businesses, such as perfume, jewellery and also became involved as a luxury watch distributor throughout the region during Dr. Jannie Tay’s tenure (1979 – 2004) as Executive Vice Chairman of The Hour Glass Limited. In 2005, Michael Tay, the son of Dr. Henry and Dr. Jannie Tay, took over as Executive Director. [8] [9] [10]
The Hour Glass work with the following watch brand companies: [4]
Rolex SA is a Swiss watch designer and manufacturer based in Geneva, Switzerland. Founded in 1905 as Wilsdorf and Davis by Hans Wilsdorf and Alfred Davis in London, the company registered Rolex as the brand name of its watches in 1908 and became Rolex Watch Co. Ltd. in 1915. After World War I, the company moved its base of operations to Geneva because of the unfavorable economy in the United Kingdom. In 1920, Hans Wilsdorf registered Montres Rolex SA in Geneva as the new company name ; it later became Rolex SA. Since 1960, the company has been owned by the Hans Wilsdorf Foundation, a private family trust.
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Ulysse NardinSA is an independently operated and integrated Swiss luxury watchmaking company founded in 1846 in Le Locle, Switzerland.
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Manufacture d'horlogerie is a French language term of horology that has also been adopted in the English language as a loanword. In horology, the term is usually encountered in its abbreviated form manufacture. This term is used when describing a wrist watch movement or watchworks fabricator which makes all or most of the parts required for its products in its own production facilities, as opposed to simply assembling watches using parts purchased from other firms.
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Concord Watch Company is a Swiss luxury goods company that is part of the Movado group, which produces and distributes Movado, Ebel, Coach, and Hugo Boss-branded watches. Founded in 1908, Concord was purchased in 1970 by the North American Watch Company, which also distributed the Piaget and Corum lines of watches. From the late 1970s to the late 1980s, Concord produced luxury quartz watches. Flagship quartz models such as the Concord Centurion and Concord Delirium ranged from $2,000 to $20,000, surpassing the price of base automatic Rolex, Cartier and Omega wristwatches. By the 1990s, Concord watches fell out of style and grew obsolete amidst the rebranding of the company. While the brand still exists today, it never regained its market position nor visibility that it once had.
Dato Jannie Chan Siew Lee (曾秀丽), also known by her married name, Jannie Tay, is a Singaporean entrepreneur and former president of the Singapore Retailers Association and the ASEAN Business Forum, in both cases the first woman to hold the position.
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Montres Tudor SA, or simply Tudor, is a Swiss watchmaker based in Geneva, Switzerland. Registered in 1926 by Hans Wilsdorf, founder of Rolex, the brand remains a sister company to Rolex; both companies are owned by the Hans Wilsdorf Foundation. Tudor was initially known for watches produced for the military and professional divers. From the 1960s to 1980s, several navies issued Tudor Submariners to their divers, including the US Navy SEALs and the French Marine Nationale.
A Boule de Genève is a type of pendant watch in the shape of a small ball or sphere originating from Geneva, (Switzerland). The dial is usually at the bottom of the sphere facing the floor, at the opposite side of the jump ring on the upper part of the sphere, although there are examples with a front view face. Usually, they were arabic numeral dials, sometimes Roman, and from the 1950s different types of hour markers were also used. This objet de vertu frequently came with a matching brooch, chain or chatelaine.
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Cortina Watch is a Singapore-based luxury watch retailer founded in 1972. It is a subsidiary of Cortina Holdings Pte Ltd, a publicly traded company listed on the Singapore Exchange. The company specialises in the distribution and retail of high-end timepieces and offers a range of watch brands, including Rolex, Patek Philippe, Cartier, Chopard, Franck Muller, H. Moser & Cie, Parmigiani, Tudor and more.