Time Watch ("the Group" or the "Company") is one of the leading manufacturers, distributor and retailer of timepieces in the People's Republic of China (PRC).
The Group's main operating subsidiary, Winning Metal Products Manufacturing Company Limited ("Winning") has been the dominant leader in the watch industry in Hong Kong since 1980. The Group currently distributes over 700 models of watch movements from major manufacturers worldwide, including Seiko/ Epson, Citizen/ Miyota and Ricoh (Japan), Timex (USA), Ronda, ISA/ Prestige Time and Swatch/ ETA (Switzerland) and Epoch/ Technotime (PRC/ France). Its customer base comprises over 230 watch manufacturers and distributors from all across the world.
Leveraging on its extensive knowledge in the watch movements business and with a motive to drive new revenue streams, the Group expanded into manufacturing and sale of watches under its in-house brands – "Tian Wang" and Swiss-imported "Balco" that target various segments of the PRC consumer market.
Time Watch has a proven 26-year track record as the dominant leader in the watch industry in Hong Kong since 1980. Its customer base comprises over 230 watch manufacturers and distributors worldwide.
- Market Leader in Watch Movements Distribution in Hong Kong
"Tian Wang" watches are designed, manufactured and assembled in the Group’s manufacturing operations in Shenzhen in the Guangdong Province of the PRC. The other in-house brand, "Balco" watches are imported into PRC from Switzerland.
- Vertically Integrated Model
Over 1000 outlets in shopping malls in over 35 cities
- Established Distribution Network
"Tian Wang" - established in the PRC market for over 20 years; ranked within the top 4 for the local watch brands in PRC by the Chinese National Commercial Information Centre (CNCIC), an agency governed by the Commercial Department of the Chinese Government, in terms of brand recognition and sales value.
- Strong brand equity, well known in-house brands
"Balco" - ranked within the top 20 for the imported brand watches in the same CNCIC ranking for product recognition and sales value, despite its shorter presence in the PRC market
- Strengthen brand equity through marketing campaign
Brand development and product differentiation is
fundamental for the continued success of our highmargin
retail business. Across our business operations,
we continue to raise the bar through the provision of
high-quality products and after-sales service unmatched
by any of our competitors. Building on the success of our
proprietary "Tian Wang" brand which is one of China's
top local watch brands, we will continue to augment
the brand equity and mind share of our three top brands
namely "Tian Wang", "Balco" and "Police" through
focused marketing campaigns and strict product quality
control measures. In addition, we will continue to build
on our exclusive distribution rights to the Police brand of
fashion apparels by introducing additional products such as
sunglasses, leather goods, jewellery and other accessories
in the PRC. We will also bring in other international brands
that are specifically targeted at satisfying the lifestyle and
fashion needs of our growing base of young, affluent and
- Widen distribution network within the PRC through establishment of more point of sales.
The continued drive to expand our retail network and
market penetration stems from our understanding that
despite growing affluence, the PRC consumer is largely
confined within fixed geographical boundaries. In FY2009,
we opened 130 new stores, giving us a total of 894 points
of sales across 35 cities in China. Moving forward we will
endeavour to maintain this pace of growth for new points
of sales across China. We will also continue to explore
alliances or joint-ventures as with the two joint-ventures
concluded recently for Hong Kong and Jiangsu Province.
The Group also intends to offer accessories in some of
these retail outlets.
- Develop vertical integration of OEM operation to include ODM.
Our OEM Manufacturing business segment continues to
be a key revenue contributor accounting for 26.0% of
the Group's FY2009 revenue. Capitalising on the Group's
quality track record for the OEM of international brands
such as 'Police', 'Swiss Military' and 'Aigner', the Group
initiated a series of strategic initiatives to further enhance
collaborations with international brands. In 2008 and
2009, the Group was appointed by international brands
French Connection "FCUK" and Cerruti respectively to
be the original design manufacturer ("ODM") for certain
watch collection introduced during this period.
- Strategic alliances with international brands to expand the Group's offering throughout the PRC.
In May 2009, we announced the acquisition of an initial
13% equity interest in three companies namely Fortune
Concept Limited, pe.timedesign GmbH and Swiss Fashion
Time GmbH which are principally engaged in the distribution
and sale of timepieces and other related accessories. This
acquisition will enable the Group to expand its portfolio from
the manufacturing, distributing and selling of watches to the
distribution of other accessories such as costume jewellery,
genuine jewellery and manual writing utensils. In addition,
the Group will be able to widen its geographical reach
outside the People's Republic of China into significant new
retail markets such as Europe and the Far East and Asia