uropa Star: How have you expanded outside your original market of Hong Kong?
Anthony Tsang: Over the years, Oriental Watch Company has developed a network of retail stores in the whole of the Greater China Region. We have become one of the largest watch retailers in the region, in large part thanks to our reputation, credibility and scale. Now we intend to deepen our presence all over the zone we cover, including Hong Kong, Macau, the PRC and Taiwan. We aim to ensure high operating efficiency by exercising stringent control, especially on rental cost, store performance, marketing, distribution channels and inventory management.
What is the most dynamic segment of your business?
It very much depends on the geographical area. Overall, brick-and-mortar remains our most dynamic activity. In the PRC in particular, and in the second half of 2021, domestic consumption of jewellery, watches and other valuables increased, which was good for our bottom line. We also introduced online sales in Hong Kong and the PRC in late 2021.
In terms of products, luxury sport watch collections as well as limited editions have been the most sought-after items over the last year. The pandemic outbreak disrupted the whole supply chain. Today, most of our customers are local users and collectors from Hong Kong and the PRC.
“The pandemic outbreak disrupted the whole supply chain. Today, most of our customers are local users and collectors from Hong Kong and the PRC.”
How has your relationship with watch brands evolved during the pandemic?
I would say that we work more closely with them, providing regular updates on our collaboration, especially in terms of social media. Most watch brands turned to digital platforms to reach out to customers during the pandemic, which meant that we, as retailers, could coordinate our communication more efficiently with them.
In addition, our new e-commerce platform provides a way for us to optimise the entire online-offline purchasing experience. Integrated online and offline stores can provide metrics to measure overall retail performance, by analysing factors such as audience acquisition and consumer behaviour, among others.