During the current quarter Q1/FY08,the Group opened new boutiques in Ocean Terminal, Kowloon and Shin Kong Place, Beijing. In addition, the company's flagship Franck Muller boutique at Central, Hong Kong, was considerably enlarged and refurbished.
With the increase in net profit attributable to equity holders of the company to HK$14.1 million, the Group's earnings per share jumped to 3.45 HK cents in Q1FY08 -- up from 0.29 HK cents in Q107.
As a result of the above, net asset value grew to HK 55.45 cents for Q1/FY08 from HK 51.95 cents as at 31 March 2007. Going forward, the Group will continue with its expansion plans in North Asia.
Apart from opening new boutiques, the Group has appointed dealerships in Dalian, Hangzhou and Shanghai to strengthen its distribution network in China.
In view of the PRC expecting to become the world's top consumer of luxury goods by 2015, the Group will continuously seek out new potential alliances and strategic partners to expand its distribution
network there.
In September, Shanghai will also see its opening of its new Franck Muller boutique which had been relocated to the city's premier shopping mall, Plaza 66. Mr. Kevin Chau, the Executive Vice-Chairman of Sincere Watch (HK) said: "As a luxury player, we are in the middle of exciting times in Asia – with the whole region showing a dynamic growth momentum."
"We will continue to push forward our growth strategy, not just by building up our retail presence in the region but also by launching new luxury brands that show good potential for growth."
"In the past few years, we have launched several successful brand- building initiatives to groom brands such as Cvstos and Pierre Kunz, both of which have received good market response."
With the increase in net profit attributable to equity holders of the company to HK$14.1 million, the Group's earnings per share jumped to 3.45 HK cents in Q1FY08 -- up from 0.29 HK cents in Q107.
As a result of the above, net asset value grew to HK 55.45 cents for Q1/FY08 from HK 51.95 cents as at 31 March 2007. Going forward, the Group will continue with its expansion plans in North Asia.
Apart from opening new boutiques, the Group has appointed dealerships in Dalian, Hangzhou and Shanghai to strengthen its distribution network in China.
In view of the PRC expecting to become the world's top consumer of luxury goods by 2015, the Group will continuously seek out new potential alliances and strategic partners to expand its distribution
network there.
In September, Shanghai will also see its opening of its new Franck Muller boutique which had been relocated to the city's premier shopping mall, Plaza 66. Mr. Kevin Chau, the Executive Vice-Chairman of Sincere Watch (HK) said: "As a luxury player, we are in the middle of exciting times in Asia – with the whole region showing a dynamic growth momentum."
"We will continue to push forward our growth strategy, not just by building up our retail presence in the region but also by launching new luxury brands that show good potential for growth."
"In the past few years, we have launched several successful brand- building initiatives to groom brands such as Cvstos and Pierre Kunz, both of which have received good market response."
