The Hour Glass Group

The Hour Glass Group

The Hour Glass Limited is one of Asia Pacific's most established
specialist watch retailers. From a one-boutique operation in
Singapore in 1979, which was founded by Henry Tay, The Hour Glass
Group has developed into a regional network of 18 retail stores
in Australia, Hong Kong, Japan, Malaysia and Thailand.

The Hour Glass has opened stores in strategically located
shopping belts, such as in Gayson Plaza in Bangkok, at 1 Utama in
Kuala Lumpur and in Ginza, Tokyo.

Henry Tay, a medical doctor who graduated from Monash
University, Australia, inherited his expertise on watches from
his father Tay Tuan Kee, the oldest retailer of Rolex watches in
Singapore.

"Watches are my lifeline. They are in my blood," the 60-year-
old Tay was quoted by The Straits Times as saying.

Tay who once practiced in his medical clinic for two years,
set up the first The Hour Glass shop in Lucky Plaza in the famous
shopping area on Orchard Road.

The company, which cost S$1 million (US$625,000) when it was
set up, has grown to be worth US$200 million. It has acquired
some Swiss brands, such as Daniel Roth and Gerald Genta, in 1994
and 1996, respectively.

In the business, Tay was helped by his wife Jannie, a
Malaysian who also graduated from Monash University and quit her
job as a lecturer at the University of Singapore.

His 28-year-old son, Michael Tay, who graduated with a degree
in business and international management from Oxford Brooks
University in the UK, seemed intent on continuing the family
business.

Tempus, the Great Watchapade, which cost US$1.5 million to
organize, was Michael's idea. He wanted to set up a watch fair in
Asia similar to the annual fairs in Basel and Geneva.

"If it's a success, we could run the fair every two or three
years, or even annually," Michael said.

A.Junaidi