Hong Kong businesses are known for their flexibility and adaptability. A family-owned factory, now in its second generation, has faced constant challenges since the current owner took over the operation, so it took the decision to actively diversify.
Clock in and experience a world of business opportunities at the HKTDC Hong Kong Watch & Clock Fair! This year’s event presents an array of complete watches and clocks, parts and components, machinery, equipment, packaging and wearable tech expertise. The fair also features the Intelligence Hub, Hong Kong International Watch Forum, seminars, product launches and a daily watch parade.
Faced with the challenge of growing its business following the COVID-19 pandemic, a well-established Hong Kong watchstrap maker realised it had to use the right channels to go out into overseas markets, in addition to providing quality products that people want to buy.
Sales of consumer goods such as watches and clothing serve as a gauge for the economy. The worldwide COVID-19 pandemic made consumers cautious, but now, as markets begin to recover, Hong Kong watch brand Glitzy Owl, which initially rolled out in Japan and Taiwan last year, is setting sights on its home market.
Quality timepieces call to mind the image of the watchmaker painstakingly assembling cogs and springs. Modern watchmakers identify with this image of tradition and craftsmanship but when marketing products, they are firmly placed in the cyber 21st-century.
Thanks to an abundance of luxury watch boutiques, multi-brand retailers and specialist auction houses, Hong Kong is the largest watch market in the world, with exports to the city representing about 9 billion Swiss francs (HK$70.3 billion) in 2018, an increase of 10% over the previous 12 months.