The Hour Glass Limited
TypePublic
SGX: AGS
IndustryWatch Retailer
Founded1979
HeadquartersSingapore
Area served
Singapore, Malaysia, Thailand, Vietnam, Hong Kong, Japan, Australia, New Zealand
Key people
Dr Henry Tay (Executive Chairman)
ProductsWristwatches
RevenueIncrease S$691.6 million (2018)
Increase S$50.7 million (2018)
Websitethehourglass.com

The Hour Glass Limited (SGX: AGS )[1] is a 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]

History

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]

Watch brands

The Hour Glass work with the following watch brand companies:[4]

References

  1. ↑ "TheHourGlass Share Price Chart. Retrieved on 23 November 2018". Yahoo! Finance.
  2. ↑ "About The Hour Glass. Retrieved on 17 November 2018". The Hour Glass.
  3. ↑ "The Hour Glass Official | Boutiques | Locate Us". The Hour Glass Official.
  4. 1 2 "The Hour Glass | Brands | Rolex, Patek Philippe, Hublot, Tudor". The Hour Glass Official.
  5. ↑ "Amy Tan (11 February 2015) Hour Glass records 7% rise in 3Q earnings to $15.1 million. The Edge Singapore Business & Investment Weekly. Retrieved on 17 November 2018".
  6. ↑ Woo, Jacqueline (28 October 2014). "Jacqueline Woo (28 October 2014) The Hour Glass completes acquisition of home-grown Watches of Switzerland. The Straits Times. Retrieved on 17 November 2018". The Straits Times.
  7. ↑ "The Hour Glass buys Watches of Switzerland for S$13.3m. The Business Times. Retrieved on 17 November 2018".
  8. 1 2 ""5 Things You Should Know About The Hour Glass". The Motley Fool. The Motley Fool. Retrieved on 17 November 2018".
  9. ↑ "Board of Directors - The Hour Glass". The Hour Glass. Retrieved 2018-11-23.
  10. ↑ "Germaine Cheong (8 December, 2014) The Hour Glass Grows Under Michael Tay's Watch. The Peak Magazine. Retrieved on 17 November 2018". 8 December 2014.
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