Cortina Holdings plans to buy rival Sincere Watch for $84.5 mil cash
In a seismic move, the last of the three Singapore family-owned luxury watch retailers Cortina Holdings will acquire Hong Kong owned Sincere Watch for $84.5 million
The post Cortina Holdings plans to buy rival Sincere Watch for $84.5 mil cash appeared first on LUXUO.
Cortina Holdings has plans to buy rival Sincere Watch $84.5 million in cash. Sincere watch, a long time stalwart in the Singapore watch retail business was originally founded by the Tay family in 1954. With Cortina Watch’s acquisition of Sincere Watch, the homegrown watch retailer will be consolidating their position in local and regional markets by absorbing 18 boutiques currently run by its former local competitor.
Tay Liam Wee was instrumental in transforming Sincere Watch, a traditional family-owned company into a pan-Asian luxury watch retail and distribution group that was publicly-listed on both the Hong Kong and Singapore Stock Exchanges. Having sold the company in 2008, he later returned to it in 2009 before selling it to Hong Kong businesswoman Pollyanna Chu Yuet Wah, who bought the business in 2012.
Family owned Cortina Watch to Buy Sincere Watch according to SGX Filing
An executive of Kingston Financial Group and Golden Resorts Group, Chu added Sincere to the family’s portfolio of companies eight years ago. She built the family’s holdings on a foundation of California real estate before focusing on IPO distribution, mergers and acquisitions and then adding hospitality and gaming ...
The post Cortina Holdings plans to buy rival Sincere Watch for $84.5 mil cash appeared first on LUXUO.
Cortina Holdings has plans to buy rival Sincere Watch $84.5 million in cash. Sincere watch, a long time stalwart in the Singapore watch retail business was originally founded by the Tay family in 1954. With Cortina Watch’s acquisition of Sincere Watch, the homegrown watch retailer will be consolidating their position in local and regional markets by absorbing 18 boutiques currently run by its former local competitor.
Tay Liam Wee was instrumental in transforming Sincere Watch, a traditional family-owned company into a pan-Asian luxury watch retail and distribution group that was publicly-listed on both the Hong Kong and Singapore Stock Exchanges. Having sold the company in 2008, he later returned to it in 2009 before selling it to Hong Kong businesswoman Pollyanna Chu Yuet Wah, who bought the business in 2012.
Family owned Cortina Watch to Buy Sincere Watch according to SGX Filing
An executive of Kingston Financial Group and Golden Resorts Group, Chu added Sincere to the family’s portfolio of companies eight years ago. She built the family’s holdings on a foundation of California real estate before focusing on IPO distribution, mergers and acquisitions and then adding hospitality and gaming ...
-------------------------------- |
|
French Food Friday - Chocolate Tart From François Perret at the Ritz Paris
04-05-2024 04:55 - (
fashion )
Verdy and Swatch Is an Artistic Collaboration Made in Watchmaking Heaven
04-05-2024 04:06 - (
luxury )