Singapore, despite its small size, boasts a significant appetite for fine timepieces, ranking among the top global markets for luxury Swiss watch exports (frequently ranked between sixth and seventh position globally), wrote Celine Yap, Group Editor-in-Chief at Revolution, as addressed in our 2023 edition of Revolution’s Top Retailers.

According to the Federation of the Swiss Watch Industry, Singapore often places within the top ten export markets for Swiss watches, reflecting the country’s strong consumer base and affinity for luxury goods. Among several factors that contribute to the robust performance of the Singaporean market, two things stand out. First and foremost, the prominent luxury watch retailers who enhance accessibility and visibility for Swiss watch brands, who in turn, hone the deep-seated cultural appreciation for fine craftsmanship and horology in Singapore, resulting in well-informed collectors and enthusiasts.

In celebrating the nation’s 59th year of independence, we commemorate the standards of excellence achieved by the premier watch retailers who have elevated Singapore’s watch game.

The Hour Glass

Founded in 1979, The Hour Glass evolved from a local Singaporean business into a regional powerhouse in the watch retail industry. With over 60 boutiques across 12 cities in the Asia-Pacific, including Australia, Japan, Vietnam, and Hong Kong, it is one of the most prominent watch retailers in the region. These include The Hour Glass multi-brand boutiques and mono-brand stores for prestigious names such as Rolex, Patek Philippe, MB&F, Hublot, and Grand Seiko. It also represents independent brands such as Akrivia, F.P. Journe, De Bethune, Kari Voutilainen, Sarpaneva, and Urwerk. Additionally, the company expanded its suburban and premium watch retail presence by acquiring the Watches of Switzerland chain in 2014. 

In its 2023 financial year, The Hour Glass reported a nine percent revenue growth, surpassing SGD 1 billion. Profit after tax increased by 10 percent to SGD 174 million, and net asset value reached SGD 774 million. This impressive performance underscores the company’s success in scaling its operations while maintaining a portfolio of the most prestigious watch brands.

The Hour Glass continues as a custodian of horological culture

The Hour Glass is not just known for its scale and financial success but also for its innovative approach to promoting watchmaking culture. Beyond hosting watchmaker meet-and-greets for collectors, it organized the Tempus watch fairs in the 2000s, bringing the Swiss watchmaking experience to a broader audience. 

This coming October, The Hour Glass is set to launch IAMWATCH, an exclusive and immersive four-day event in the tropical setting of Singapore. This latest initiative by the luxury watch retailer aims to unite the Pan-Asian watch-collecting community through direct, face-to-face interactions. The event will feature over 40 prominent figures in the watchmaking industry, including fireside chats, lectures, and community activations. Notable participants include Felix Baumgartner of Urwerk, Benoît Mintiens of Ressence, Pierre Jacques of De Bethune, Maximilian Büsser of MB&F, and Raúl Pagès, the first winner of the LVMH Watch Prize. Industry leaders like Aurel Bacs and Tiffany To of Phillips Watches, and Revolution’s Eléonor Picciotto and Wei Koh will also be present.

The event will be held at the Singapore EDITION hotel. IAMWATCH 2024 begins with a private viewing on Thursday, October 17, followed by a public opening from October 18 to 20. Admission is free, with pre-registration required.

Cortina Watch

Cortina Watch grew from a single shop started by Anthony Lim in the now-defunct Columbo Court building in 1972, to what is today a public-listed group — Cortina Holdings Limited — with more than 40 stores in the region, covering Singapore, Malaysia, Thailand, Indonesia, Australia, Taiwan and Hong Kong. From making strategic inroads into the region and going on to becoming a public-listed enterprise in 2002, another milestone in the company’s growth is its acquisition of another major Singapore-based luxury watch retailer, Sincere Watch, in 2021, for S$85 million. As of financial year 2023, Cortina Holdings saw a 15 percent growth in revenue to S$827 million, for a 13 percent rise in net profit to S$84 million; on a net worth of some S$382 million.

Currently in the hands of three generations of the Lim family, Cortina Watch, with over 50 years of industry leadership, is celebrated for its support of both industry giants and exclusive independent brands like H. Moser & Cie. and Parmigiani Fleurier. 

A champion for homegrown excellence

Cortina Watch’s 50th anniversary in 2022 saw collaborations with eight brand partners, highlighting its niche in gem-set timepieces and high complications. Patek Philippe came in with the Ref. 20145M-001 “Singapore Skyline” dome clock, as well as the Cortina-exclusive Calatrava Ref. 5057G-010 with a unique triple-row hobnail guilloché bezel. This is the second such reference that Patek Philippe has made for Cortina; the first was a rose gold one made in 1997 on the occasion of the retailer’s 25th anniversary — and one can only imagine what might arrive on its diamond jubilee. Other brands that created special editions for Cortina Watch include Cartier, Chopard, Franck Muller, H. Moser & Cie., TAG Heuer, Blancpain and Corum, many of which are gem-set models, underscoring the retailer’s forte in ultra precious timepieces.

At the turn of the millennium was when the retailer brought forth new perspectives in haute horlogerie. Upon recognizing the growing interest in sophisticated jewelry timepieces, Cortina Watch established the Jewelry Time exhibition series, a biennial event that ran between 2000 to 2014. In 2001, Cortina Watch introduced the then-new “Espace” retail concept, which swiftly won the “Best Retail Concept of the Year” award from the Singapore Retailers’ Association. The “Espace” concept was subsequently adopted in its flagship stores in Malaysia and Thailand, marking a key milestone for the company just before its 30th anniversary 2002 when it eventually went public on the Singapore Stock Exchange.

Sincere Fine Watches

When Cortina Holdings acquired Sincere Fine Watches in 2021, it resulted in a vast distribution network, with Sincere Fine Watches adding its 20 stores across Asia to Cortina Watch’s 30 boutiques in Singapore, Malaysia, Thailand, Indonesia, Hong Kong, Taiwan, and Australia. Sincere Fine Watches relaunched its specialty division, renamed Sincere Haute Horlogerie (SHH) when they presented the new concept boutique in Marina Bay Sands Singapore in 2022. Managed by Kate Lim, a third-generation member of the Cortina founding family, and CEO Ong Ban, SHH was designed to resemble a contemporary art museum, offering a space for watch enthusiasts to gather and appreciate exceptional timepieces. 

The watches displayed are chosen for their horological excellence, including mechanical mastery, handcrafted artistry, and technical originality. Instead of being organized by brand, they are curated based on horological ingenuity, showcasing pieces like the celestial complications of Christiaan van der Klaauw and the state-of-the-art Mirrored Force Resonance of Armin Strom. SHH is now present in Singapore, Malaysia, Thailand, and Taiwan, with its 5,000-square-foot Kuala Lumpur boutique, which spans two floors in Pavilion Kuala Lumpur, as the global flagship destination. This strategic expansion very clearly demonstrates the group’s retail strategy, which is to position Sincere Fine Watches as the purveyor of independent watchmaking. Sincere also runs mono-brand stores for TAG Heuer, Tudor, Bell & Ross, and Franck Muller. 

Sincere Fine Watches celebrates 70 years with Platinum Jubilee Celebrations

With beginnings in 1954, Sincere is regarded as Singapore’s oldest luxury watch retailer. And to that, they’re throwing a year-long 70th birthday party. As part of their Platinum Jubilee celebrations, themed “A New Era”, the retailer has embarked on an exciting collaborative endeavor with esteemed watchmaking houses, launching limited-edition timepieces.

We’ve been following each and every rollout since the inaugural Sincere Platinum Jubilee Edition that began with the Moritz Grossmann HAMATIC Astral. In the month of June, they released the Chopard Happy Sport The First that debuted a burgundy red dial. These were then followed by the Pioneer Perpetual Calendar Concept MD Purple Enamel, then the beautiful Lang & Heyne Friedrich III Remontoir, and most recently, the Laurent Ferrier Grand Sport Tourbillon that was presented with its first guilloché dial. Though we’re closing in towards the year’s end, we’re happy to report that Sincere still has a lot more up their sleeves.