Peace Mark goes global with own brand (hktdc.com)


Managing director Tommy Leung said Hong Kong is an excellent location for a design hub

Hong Kong-based Peace Mark (Holdings) Ltd is a company to watch. A key player in the global timepiece industry, the company is launching its own brand, EST, in August. Peace Mark started out as an original equipment manufacturer (OEM) and successfully moved into distribution and design - the typical story of a Hong Kong manufacturer moving up the value chain.

"We'll be launching the EST brand in China, followed by Southeast Asia and eventually the US and Europe," said managing director Tommy Leung. "We already have the advantage of having a good manufacturing base, strong support team and excellent design capabilities behind us, so we are taking the next step."

Peace Mark has design centres in both Hong Kong and Switzerland, as well as some of the most advanced watch manufacturing facilities in the world, located in Shenzhen, southern China. The company also has 300 points of sale in the Chinese mainland.

"Hong Kong is a good location for a design centre, because local designers are very lively, extremely creative, and keep up-to-date with the latest global technologies and trends," said Mr Leung.

One of the world's leading timepiece exporters


Peacemark is moving up the value chain by launching its own brand, EST, this month

Hong Kong is one of the world's leading exporters of watches and clocks, and was the world's second largest exporter of complete watches in terms of both value and quantity in 2001. Switzerland leads the world in jewellery watches, but Hong Kong is the largest producer of timepieces for daily wear.

Peace Mark is also taking advantage of Cepa by moving some production facilities back to Hong Kong. A total of 11 timepiece items made in Hong Kong, including certain wrist-watches, alarm clocks and parts and components, now enjoy duty-free access to the mainland under Cepa.

The company makes and distributes timepieces in both OEM and ODM (original design manufacturing) as well as licensed brands. Products include Pierre Cardin, Umbro, Sergio Valente and Fiorucci watches and clocks.

"The success of a company depends on its culture. Peacemark has the advantage of having built up a strong base of high quality products," added Mr Leung. "We want to enhance global competitiveness, so there is no time to waste!"

The group reported a net profit of 38 per cent to HK$80 million (US$10.2 million) for the year ending 31 March 2004.

Peacemark will be exhibiting at the Hong Kong Watch & Clock Fair (1-5 September 2005).