Omega vice-president Kevin Rollenhagen says Hong Kong is the natural place to be for the luxury watch brand, especially as a launchpad to China

Executives decided that the long-term future of Hong Kong, and the potential for business from China, was so promising that there would be no delaying the opening of the store, located in the prime Canton Road retail area of bustling Tsim Sha Tsui.

There has been a brisk stream of well-heeled Hong Kong visitors keen to check out the latest models from the company displayed in the 121 square metre premises. The display of products includes Omega's latest Bijoux collection, and the store includes a resident watchmaker who specialises in repairs and maintenance.

"Hong Kong is one of the world's most sophisticated watch markets," says Kevin Rollenhagen, vice-president of Omega China and Hong Kong. "The flagship store is our largest store in Asia and an essential element of our retail strategy in Hong Kong and China, as it allows us to centrally display our attractive collections."

Mr Rollenhagen is a long-term resident of Hong Kong who has a bullish view of the city. He said the recent downturn was the first he had encountered in the business, as even during the Asian financial crisis of 1997, sales of watches remained buoyant.

Further expansion is still in progress - including an outlet at the Hong Kong International Airport later this year and, down the road, in the fast-developing Chinese city of Shanghai. All this will be overseen from the office in Hong Kong.
 
Says Mr Rollenhagen: "We have been in business here for almost 50 years. It is the natural place to be, especially for entry into China, and business is good here. We had been looking for a location for our flagship store for more than two years and we are very satisifed with the location."

Mr Rollenhagen said business so far had mostly been from locals - but he expects it will switch back to the usual mix of 70 per cent tourists from around the world, and 30 per cent locals, when visitors began flocking back to Hong Kong. Watch prices start at HK $10,000 (US$1,300).

Omega is a subsidiary of The Swatch Group, the world's largest watchmaker with over 17,000 employees, and was originally founded 150 years ago in Switzerland.

Related link:
Omega www.omegawatches.com