Global Fine Watch Retailer

After the press conference, Yeoh took members of the media for cocktail where he showed the new expansion of the various watch retailers.

Representatives of the various watch retailers included Dato’ Francis Sew, Managing Director of Swiss Union; Jeremy Lim, Regional General Manager of Cortina Watch;Jaime Gooi, Marketing and Communications Manager of Jaeger-LeCoultre; Jenny Chua, Sales Manager of Yafriro; and Gaetan Jankowski, Sales and Marketing Executive of Audemars Piguet.

Full text of the speech delivered by Tan Sri (Dr) Francis Yeoh:

It has been said that Time and Tide wait for no man. I am therefore pleased to be here today to announce the impending arrival of Starhill Gallery as the Global Watch Retailer. Many may challenge that my claim is at best ambitious, and worse, my confidence overbearing.

I don't no shopping centres or stand alone boutiques in any capital of the world that house and retail fine and luxury watches with a floor plate of 20,000 sq. ft. It is also important to reiterate that luxury watches in Malaysia are duty free.

We know that Cortina Watch Espace Boutique in Starhill Gallery has been certified as Malaysia’s largest watch boutique by THE MALAYSIA BOOK OF RECORDS. It set a new benchmark in watch retailing when it opened in 2002 with only less than 3500 sq. ft. Now, with the other watch retailers led by the Swiss Union group and the Yafiro group and Cortina’s expansion, I think we can rightly claim that Starhill Gallery is truly the Global Fine Watch Retailer.

If the size does matter, it is the level of customer service that truly counts. It is in this area that I have particular confidence that our Starhill Gallery management team, together with the expertise of the fine watch retailers will deliver a level of experience like no other. We know many important collectors of fine watches around the world who are repeat customers of Starhill Gallery. We intend to continue in this tradition of excellent service with privacy backed by firm but unintrusive security. I know that the luxury watch industry can be classified into three categories.

First, there is the world of the traditional watch manufacturer such as Audemars Piguet, Vacheron Constantin and Patek Philippe. The second category consists of companies that were born as jewellers and moved into fine watchmaking – such as Cartier, Bvlgari and Tiffany.

The third category of luxury timepieces, which includes the more fashion-oriented models, is Gucci’s traditional area of expertise. Because Gucci watches address the needs of a younger, trendier and female customer.

I am pleased to note all of these three categories are present here on the INDULGE floor of Starhill Gallery. There are a total of 70 luxurious brands for you to choose from, each with its own DNA and personality!

Today, many luxury watches are produced in rural areas like the Vallėe de Joux in the Jura mountains of Canton Vaud. Over the years, production increased and the number of players multiplied, but luxury watches have maintained their status as symbols of success: time is indeed money. Collectors of fine watches include the likes of Jacqueline Kennedy and Brad Pitt.

My friend Rolf Schneider who owns the luxury watch brand, Ulysses Nardin is also a collector. He ‘collected’ a beautiful Malaysian girl as his wife, she is also a masterpiece. We are connected by their adoption of one of our gorgeous Shar-peis.

My good friend Pablo Montoya collects Audemars Piguet. I am pleased to note that he bought some of his collections from Starhill Gallery. Classic opera singers like Placido Domingo and Cecilia Bartolli and sports personalities like Maria Sharapova and Kimi Raikkonen continue to be ambassadors for these luxury brands synchronising their respective personalities.

Today, the luxury watch industry is worth US$4 billion dollars and the growth of this category outpaces the growth of watches that are low- and medium-priced. Nowadays, brands like Audemars Piguet, Roger Dubuis, Jaeger-LeCoultre, Maurice Lacroix, Tag Heuer, Bover, De Witt, Cartier, Parmigiani, Bell & Ross, Patek Philippe and Chopard outsell Titoni, Favre-Leuba, Titus, Roamer, Seiko, Citizen and Casio. It is poignant from this fact that no matter how many recessions an economy undergoes, there will always be wealthy people and ardent collectors of these fine pieces of craftsmanship.

The most part of luxury watches buyers are members of the jet set who tend to do their shopping while on vacation. Overseas, they feel, the choice is wider and the showrooms more appealing. It is with this in mind that Starhill Gallery hired the global mall design icon David Rockwell from New York to shape the interior of the new Starhill Gallery. We hope the shopping experience we produce will be unforgettable.

Baltasar Gracian said, “God Himself chastens not with a rod but with time” and Anne Swetchine said, “There is, by God’s grace, an immeasurable distance between late and too late”. I pray that the launching of Starhill Gallery as a global fine watch retailer to be opened by July this year. I pray that with God’s mercy and grace He will bless this important project. Thank you very much.