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Name Of The Game(HKTDC Watch & Clock, Vol 01,2002)

Vol 1, 2002

Product Features
HK Enterprise Internet

Company Profiles

Name Of The Game
Accutime Watch Mfg Co Ltd

Circles In Time
Yuen Sang Hardware Co (1988) Ltd


Name Of The Game

Accutime Watch Mfg Co Ltd

For Accutime Watch Mfg Co Ltd, the prime raison d'etre is to consistently create high-quality watches carrying the Perucci brand.

IF Accutime Watch Mfg Co Ltd director Jolly Vargheese had his way, the Perucci brand would appear on dress watches adorning billions of wrists. Vargheese has a long-standing commitment to developing "an affordable, quality-oriented, brand-name watch" that is also waterproof.

"This was the fundamental principle behind the establishment of Accutime Watch Mfg almost three years ago," says Vargheese. "The Perucci name was chosen at the same time because of its connotations of Italian style and elegance."

Launched in early 1999, Accutime has a five-person operation in Hong Kong and a Los Angeles office providing financial and corporate support.

The company commands "significant" shareholding in a 150-worker factory producing 50,000-70,000 watches per month in Shenzhen on the Chinese mainland. In peak seasons, like September to December and March to May, the factory can manufacture up to 100,000 units monthly.

"The Perucci brand is our foundation, accounting for 90% of total production. The remainder is for limited OEM and premium orders using our basic designs and imprinting a corporate logo," says Vargheese.

Main markets are the Middle East, the US and eastern Europe. Smaller quantities go to Asian destinations like India, Pakistan and Malaysia.

The Perucci brand is registered in Hong Kong, the US, the UAE and Austria. It awaits registration in India and Saudi Arabia to protect a catalogue growing each year.

More than 200 Perucci designs are available in colour and plating variations ranging from US$2.50-7.00 FOB Hong Kong per watch, based on a minimum order of 200 units.

About 100 new designs are introduced each year. New themes are developed by a two-person Hong Kong in-house design team before going to the mainland for refinement and production to the highest specifications.

Each Perucci watch combines zinc alloy with genuine leather straps or with stainless steel or alloy bracelets before undergoing rigorous quality inspection.

"All parts are carefully scrutinized before production, and each watch undergoes waterproof testing of up to three atmospheres," Vargheese says.

"All shipments are randomly inspected in Hong Kong. Anything beyond our 1-2% tolerance standard means the shipment is automatically rejected," he adds.

Agent feedback is carefully noted to ensure the Perucci brand continues expanding. "In trying to diversify away from the US, we see strong potential in areas like India, Japan and South America," says Vargheese. In such markets, Accutime wants agents who believe in promoting a product through its brand name rather than simply on price.

"Any consumer should be confident of buying quality in a Perucci watch. This will encourage more sales," Vargheese says.

"We have been very successful for two years. There is no reason such success should not continue, especially since there are many markets Perucci has yet to penetrate."

Accutime Watch Mfg Co Ltd

Unit 702, Vanta Industrial Centre,
21-33 Tai Lin Pai Rd, Kwai Chung,
New Territories, Hong Kong
Tel: 852-2418-0738
Fax: 852-2422-4555
E-mail: trade@perucciwatch.com
Web: www.perucciwatch.com


Circles In Time

Yuen Sang Hardware Co (1988) Ltd

Stainless steel bracelets from Yuen Sang Hardware Co (1988) Ltd are proving popular on timepieces for men or ladies.

STYLISH watches need equally attractive, sturdy and reliable bracelets. Supplying these important, yet all-too-often overlooked, timepiece elements is the lifeblood of Yuen Sang Hardware Co (1988) Ltd.

Since 1947, Yuen Sang has developed and refined its range of distinctive watch bracelets. Thirteen years ago, the publicly listed Chuang's Group of Companies purchased the enterprise.

"We manufacture five types of bracelets, namely profile-solid, stamping-solid, semi-solid, folded and cap-folded (imitation-solid), all guaranteed for one year," says marketing manager Julie Tong.

The cap-folded version is the most popular, accounting for 75% of Yuen Sang's 200,000-bracelet monthly volume.

Each bracelet design emerges from a four-storey factory, inside which 900 workers use high-quality stainless steel and the latest machinery. The factory is strategically located in Shenzhen on the Chinese mainland.

Profile-solid bracelets are produced in 303 or 316 material for an elegant and classic look, excellent durability and high quality.

Stamping-solid bracelets come from quality stainless-steel plate stamped into the desired shape and length.

The semi-solid bracelets are manufactured automatically, allowing the speedy delivery of large quantities about 30% cheaper than solid counterparts.

More than 100 auto-pressing machines create attractively priced folded bracelets that look solid and are polished to perfection.

The cap-folded (imitation-solid) versions resemble folded bracelets, but lack visible links on the side for a popular, smoothly elegant look.

"We sell mainly to Hong Kong customers, including complete-watch companies, with many of the remaining bracelets going directly to Europe. Switzerland is a big buyer, using our bracelets in high-quality Swiss watches," Tong says.

Tong notices a trend toward the use of more Yuen Sang products for ladies' watches. "Previously, 80% of our products were for men's watches, but ladies' stainless steel bracelets are becoming popular, accounting for at least 30% of our production," she says.

Like most Hong Kong companies, Yuen Sang is keen to offset softness in the US market where demand may lag until at least April.

"We are very interested in Japan, Switzerland and South America, including Brazil, which is a promising niche market where we already have some business," says Tong.

While continuing to explore emerging markets, Yuen Sang develops additional new products and styles.

"Most of our bracelets are stainless steel for maximum durability, although we do produce a few models combining stainless steel with silicon for a fashionable sporty look," Tong adds.

"We can produce almost any design customers want, modifying if necessary for volume production. Nevertheless, we will continue to focus on stainless steel, which is increasingly popular everywhere."

Yuen Sang Hardware Co (1988) Ltd

5/F, Benson Tower, 74 Hung To Rd,
Kwun Tong, Kowloon, Hong Kong
Tel: 852-2342-0165
Fax: 852-2763-6769
E-mail: yuensang@hkstar.com
Web: www.yuensang.com.hk

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