Enterprise

Strong Mainland China demand boosts Swiss watch industry

HONG KONG, Sep 7, 2021 – (ACN Newswire) – Jointly organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Watch Manufacturers Association and the Federation of Hong Kong Watch Trades and Industries, the special edition of the 40th Hong Kong Watch & Clock Fair and the ninth Salon de TE begin tomorrow…

HONG KONG, Sep 7, 2021 – (ACN Newswire) – Jointly organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Watch Manufacturers Association and the Federation of Hong Kong Watch Trades and Industries, the special edition of the 40th Hong Kong Watch & Clock Fair and the ninth Salon de TE begin tomorrow at the Hong Kong Convention and Exhibition Centre. To help industry participants grasp the latest market information and trends and formulate strategies for post-pandemic growth, the three organisations hosted the Hong Kong International Watch Forum on 30 August. The forum invited watch association representatives from Mainland China, France, Germany, Hong Kong, Japan and Switzerland to share on the watch industry’s current trade performance in the region and offer perspectives that can help the global watchmaking industry continue to move forward.Daniel Tsai, Chairman of the Federation of Hong Kong Watch Trades & Industries Ltd (centre), with Student Group merit award winners Chan Yin-kei (R), Lau Ka-ki and Ho Wing-kiu; champion Yip Tsz-yan; and first runner-up Ho See-long (L)”Insight”, the creation of Student Group champion Yip Tsz-yanThe “Global Luxury Watch Investment and Market Outlook in Mainland China” forum on 10 September will feature insights from John Ng, Horologer of Montres S.A.Swiss representative – US demand has also reboundedEven though the pandemic has battered the global economy and posed significant challenges for the watch and clock industry, the speakers’ view was that markets are steadily recovering. They noted that imports, exports, production volumes and profits have all rebounded from the depths of 2020, although still remain shy of 2019 levels.Thierry Dubois, the representative from Switzerland’s Federation of the Swiss Watch Industry FH, explained that Swiss watch exports during the first six months of 2021 have improved year-on-year. In 2020, the country’s total exports dropped 21.7% compared to the previous year. However, the total export value remained on a par with that of 2019, dipping only 0.5% to 10.6 billion Swiss francs. This was thanks to the Mainland China market, which has seen a surge in demand for luxury Swiss watches since last summer. Demand from the US also began picking up from March this year, which was sooner than the Swiss watch industry anticipated.Mr Dubois pointed out that Asia now represents the largest market overall for Swiss watch exports, with Mainland China being the leading market, followed by the US, Hong Kong, Japan and Singapore. He foresees that by 2025, the mainland’s consumption will pull further ahead and account for 46-48% of all luxury watch purchases.He added that the pandemic has created new consumer habits, with prolonged lockdowns giving consumers more time to reflect on their watch purchases and make new discoveries. “We have observed that online sales quickly replaced physical sales, as shops had to close during the lockdowns. In 2019, online sales represented 10-15% of total sales of luxury products. We expect this will rise to 30% by 2025. At the same time, the importance of social media for communication, interaction and sales has continued to grow. Livestreaming has exploded, and the trend is particularly visible in Asia. With the increase in e-commerce, the demand for efficient logistics and delivery has also climbed, because today’s online shoppers expect swift product deliveries once they have placed an order,” said Mr Dubois. He remarked that there has also been a notable increase in the demand for “pre-owned” watches – or watches that have been possessed by someone else – which is expected to rise by 15-20% within four years.German representative – physical stores remain attractiveGuido Grohmann, the representative from Germany’s Federal Associations of Jewellery, Watches, Silverware and Supplying Industry e.V. (BVSU), said the country’s exports of watches, clocks and parts saw a significant year-on-year decline of 14.1% in 2020, including falls of 7.5% in the European Union (EU) and 16.4% in Asia. The situation was largely echoed in imports. In 2020, German imports of watches, clocks and parts fell 6.2% compared to the previous year, with the biggest decline registered in Asia, at 8.7%. Despite this, imports from the EU rose 28.5%, with logistics operating more smoothly among EU countries. In 2021, both exports and imports continued to strengthen during the first five months with imports faring even better than the same period in 2019.While e-commerce continues to gain popularity, Mr Grohmann said that offline stores are still maintaining their attractiveness. He remarked that even though lower-priced products were sold online during the pandemic, consumers still preferred going to stores to buy high-end products as it allows them to try out the luxury goods. As for logistics, he noted, “The COVID crisis has reflected that we still have huge problems within the supply chain, especially in shipping parts. Industries are looking into reinventing local suppliers in Europe to attain a more secure supply chain. It would be much better if the world’s governments [could] focus on how to re-enact the fast and solid supply chain that we used to have. From the watch industry’s perspective, we have to discuss this on a global level. It is difficult, but it can be solved.”The Hong Kong International Watch Forum was held as a webinar on 6 September. A replay will soon be available on the Watch & Clock Fair website.Hong Kong Watch & Clock Competition identifies local design talentTo raise the design standards of the Hong Kong watch industry, nurture local designers and inject new impetus into the industry, the HKTDC collaborated with the Hong Kong Watch Manufacturers Association Ltd and the Federation of Hong Kong Watch Trades & Industries Ltd to organise the 38th Hong Kong Watch & Clock Competition. This year’s competition was once again divided into the Open Group and the Student Group, adopting the themes of “Minimalism” and “Live Fully” respectively. About 90 high-quality entries were received, from which a panel of 10 judges from various sectors selected the winning entries.The results of the competition have been announced and the champion in the Open Group was Tam Kwok-tung for his design titled “SPACE_BAR”. Housed in a transparent container, the design beautifully encapsulates the simplicity of the watch’s movements. The first runner-up prize was claimed by the Ballerina Watch Company Limited and its design “Singing Bowl”. The design forgoes a traditional watch crown to accentuate the unified and symmetrical watch case design. Second runner-up was Wong Ting-bong for his design “D012”. The unique open design of the minute dial is topped with a linear second hand, which perfectly represents the concept of points, lines and surfaces as the hands move.In the Student Group, the Hong Kong Design Institute’s Yip Tsz-yan was crowned champion for her design “Insight”. Her watch’s bezel and glass are made with a diamond-cut design, and the case-back contains fancy glass that refracts light and reflects colours. Ho See-long from the Technological and Higher Education Institute of Hong Kong claimed first runner-up with her design titled “Serendipity”. The design reflects the idea that the happiness and fortune people seek may already be surrounding them and that every trivial matter in daily life can be a miracle. The second runner-up prize was taken by another Hong Kong Design Institute student, Pui Hong-yiu, whose design “Expedition” drew inspiration from the film Around the World in 80 Days. The watch’s oversized design symbolises the confidence and motivation for taking an expedition, while the mini globes on the face can display the wearer’s location.The champions of the Open Group and Student Group will be sponsored to attend the INHORGENTA MUNICH 2022 trade fair in Germany. All the winning and finalist entries will also be displayed during the Watch & Clock Fair to showcase Hong Kong’s design prowess to global industry participants and the general public.Renowned watchmaker shares tips on luxury watch investment in Mainland ChinaIn addition to the above events, the annual Asian Watch Conference will be held on 9 September during the Watch & Clock Fair. With the theme, “Redesigning the Future of Luxury Watches”, experts will look at the future for the luxury watch sector from the perspective of product design trends and marketing strategies, helping watchmakers and manufacturers to be more future-ready. Trade professionals interested in attending the conference can register at the event website. https://tinyurl.com/crnrkc2rMeanwhile, a sharing session titled “Global Luxury Watch Investment and Market Outlook in Mainland China” will be held on the afternoon of 10 September. John Ng, Horologer of Montres S.A., who is known as the only Asian disciple of master watchmaker Philippe Dufour, will be joined by Ho Sai-chu, Chairman of Chih Lo Lou Art Promotion (Non-Profit Making) Ltd, as well as three auction house representatives: Cissy Ngan, Associate Vice President and Specialist at Christie’s, Mary Lee, Consultant at Sotheby’s and Jill Chen, Head of Watches, Hong Kong at Phillips. They will discuss global luxury watch investment and share insights on watch collecting, the prospects for watch investment in Mainland China, the role of young people in the watch industry, and the industry’s outlook in the Guangdong-Hong Kong-Macao Greater Bay Area. Interested trade professionals can register here. https://tinyurl.com/crnrkc2r The 40th HKTDC Hong Kong Watch & Clock Fair and the ninth Salon de TE both begin tomorrow. The physical fairs will run from 8 to 12 September at the HKCEC, while the online version will run until 19 September. The hybrid format will help global watch traders explore more business opportunities. The five-day fairs at the HKCEC will open to industry buyers and, for the first time, also to the general public, offering local watch lovers the opportunity to shop for precious timepieces.Fair websites- Hong Kong Watch & Clock Fair: https://hkwatchfair.hktdc.com- Salon de TE: https://hkwatchfair.hktdc.com/te- Photo download: https://bit.ly/3zH79e9About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiries:HKTDC’s Communications & Public Affairs DepartmentJanet Chan, Tel: +852 2584 4369, Email: [email protected] Tang, Tel: +852 2584 4544, Email: [email protected] Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com
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Asia’s fashion showcase CENTRESTAGE opens today

HONG KONG, Sep 10, 2021 – (ACN Newswire) – Asia’s premier fashion event CENTRESTAGE, organised by the Hong Kong Trade Development Council (HKTDC) and sponsored by Create Hong Kong (CreateHK) of the Government of the Hong Kong Special Administrative Region, opened today. The three-day extravaganza features 30 fashion events at which brands and designers can…

HONG KONG, Sep 10, 2021 – (ACN Newswire) – Asia’s premier fashion event CENTRESTAGE, organised by the Hong Kong Trade Development Council (HKTDC) and sponsored by Create Hong Kong (CreateHK) of the Government of the Hong Kong Special Administrative Region, opened today. The three-day extravaganza features 30 fashion events at which brands and designers can showcase their creativity in the fashion arena. A number of Hong Kong designers presented their 2022 Spring/Summer collections today, attracting the attention of fashion buyers and fashionistas. For the first time, the show is open to public visitors for the entire duration. Visitors have a unique opportunity to check out the latest designs from leading local and overseas fashion brands, with most of the participating brands offering retail sales along with special offers.CENTRESTAGE 2021 opened today at the Hong Kong Convention and Exhibition Centre. The three-day event (10 to 12 September) opens to public visitors for the first time.The curtain-opening FASHIONALLY Collection #17 fashion show spotlighted emerging local talents and their brands.Comprehensive fashion brand promotional platformThe sixth edition of CENTRESTAGE adopts “Chapter Infinity” as its central theme. The event features three thematic zones: ALLURE – representing craftsmanship, refinement and elegance; ICONIC – displaying avant-garde designs; and METRO – showcasing contemporary, minimalistic expressions of urban life. This year’s event hosts more than 200 fashion brands from 24 countries and regions. 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CENTRESTAGE will also present other Hong Kong brands at FASHIONALLY Presentations, combining a short fashion film with an onsite performance to showcase their 2022 Spring/Summer collections.The spotlight opening gala show, CENTRESTAGE ELITES, takes place this evening and will see the global launch of the 2022 Spring/Summer collections from local designers Calvin Chan and Joyce Kun’s renowned brand The World Is Your Oyster, as well as acclaimed Korean designer Lee Mooyeol’s brand, YOUSER. The show will not only be boosted by extended reality (XR) but will also be livestreamed through the CENTRESTAGE website and social media platforms Facebook and Instagram, employing augmented reality (AR) effects to enhance the online viewing experience. Celebrity singer and fashionista Hins Cheung will attend the event to give his support to the designers.CENTRESTAGE ELITES will be followed by the Hong Kong Emerging Talents Show which features the latest collections from up-and-coming designer labels in town. Another exciting show, Fashion Go Places, celebrating the international footprint of Hong Kong designers at renowned fashion weeks, will be held tomorrow (11 September). Popular fashion events return in physical formatA number of popular fashion events are returning in a physical format during CENTRESTAGE, including two highlighted events sponsored by CreateHK: Fashion Summit (Hong Kong) 2021, an international forum focused on sustainable development in the fashion industry, runs on 9 and 10 September, and the Grand Final of the Redress Design Award 2021, the world’s largest sustainable fashion design competition, takes place on 11 September.Another highlight of this year’s CENTRESTAGE will be the final of the Hong Kong Young Fashion Designers’ Contest 2021 (YDC) on 12 September. The VIP judges will be Rushemy Botter and Lisi Herrebrugh, founders of the menswear label BOTTER. The 10 shortlisted candidates will compete for four honours, namely overall champion, the Excellence Award, Best Visual Presentation Award and the My Favourite Collection Award. For the latter, members of the public can vote for their favourite collection online and stand the chance to win one of seven HK$2,000 Lee Gardens Area e-gift certificates sponsored by Hysan Development. Celebrities Denis Kwok (aka 193) and Bonnie Wong (aka Ah Jeng) will be the special guests at the show, demonstrating their support for up-and-coming Hong Kong fashion talents.Weekend fashion eventsFor the first time, CENTRESTAGE is opening to public visitors for the entire duration. A series of exciting fashion events is being arranged over the weekend for the public, including a sharing session on styling tips by well-known fashion influencers Lilian Kan and Joey Sze, as well as the fashion designer behind CAR|2IE, Carrie Kwok, tomorrow (11 September), the Hong Kong Kids Fashion Show with celebrity guests Sherry Chen and Gloria Cheung, and the “LEGO x Hong Kong Designers Parade” on 12 September. CENTRESTAGE in Town features a series of fashion events beyond the CENTRESTAGE fairground, includes fashion exhibitions, workshops and promotions with shopping malls and restaurants. More details can be found on the fair website.Websites:- CENTRESTAGE: https://www.centrestage.com.hk- Hong Kong Young Fashion Designers’ Contest (YDC): https://www.fashionally.com- CENTRESTAGE in Town: https://centrestage.hktdc.com/ex/centrestageintown/en- Photo download: https://bit.ly/3BSXaTMMedia enquiries:HKTDC’s Communication & Public Affairs DepartmentSnowy Chan, Tel: +852 2584 4537, email: [email protected] Wat, Tel: +852 2584 4554, email: [email protected] HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com
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