1 Dec 2006
Winning Ways(HKTDC Watch & Clock, Vol 01,2007)
Gold Power Worldwide Ltd
|Quality is paramount at Gold Power Worldwide Ltd, which manufactures quartz and mechanical watches|
The club won the "big three" of European and British football that year - the UEFA Champions League, the FA Cup and the FA Premiership - to give Gold Power Worldwide Ltd a winning start to its new endeavour.
"It was a wonderful year for business," recalls sales and marketing manager Lisa Pong, who was one of the Gold Power team that flew to London to negotiate terms with Manchester United's licensing department. "Besides an exclusive range of watches, the deal included souvenir items like scarves and badges."
Gold Power celebrated the club's historic treble by producing a set of three separate watches, all with a special inlaid feature on the dial relating to each big win.
"We also did an embossed VIP presentation pack containing all three watches," Pong recalls. "These have since become treasured collectors' items among players, officials and football fans all over the world."
Having established itself on the English football scene, Gold Power went on to arrange OEM deals to produce watches and related items for other leading English clubs like Arsenal FC and Chelsea FC.
As a result, the company quickly established itself in the luxury watch market in the US and the UK, adding pendant and ring watches to its repertoire while also expanding into other timepieces such as table clocks.
It has also signed profitable licensing deals for long-lasting favourites like SNOOPY by Everhart watch, clock and gift sets that are perennial best sellers with kids from their early teens upward.
"From the outset we have positioned ourselves at the higher-quality level," Pong explains. "This is a very, very competitive business, and we don't want to be down there with the low-end producers."
For example, Gold Power produces elegant ladies' watches that sparkle with more than four carats of square or circular frames of genuine diamonds and cost in excess of US$10,000 each.
"We regularly attend the big trade fairs in Switzerland and Germany to boost our lines and ensure that we are keeping up with the latest trends," says Pong.
She says this research is "essential", as demand is constantly changing in the luxury watch field and Gold Power is always adding extra features to keep up with the latest overseas fashion developments.
"A few years ago we introduced diamonds and now we have turned to gemstones, tiger eyes, lapis, pearls and other quality-enhancing additions," Pong explains. "We use either 5-micron gold plating or rose gold in our gold watches."
She says Gold Power recently registered two new brands, but the company is not revealing details of either product or their launch date until it is satisfied that they will add to its reputation for high-quality products.
Like the rest of the Gold Power catalogue, the new watches will undergo stringent R&D at the company's Hong Kong headquarters and at its factory in Shenzhen on the Chinese mainland. "Still more proof that we are perfectionists," adds Pong.
She says the company produces both quartz and mechanical watches, and in both cases the emphasis is always on quality. "Besides being virtually fanatical about quality we are very painstaking about properly serving our clients - not just providing after-sales follow-up but from when we first start our contact," Pong stresses.
Looking ahead, Pong sees tremendous potential in the mainland market. "As prosperity spreads there, many wonderful opportunities are arising but the problem is to find ways to break into the market, which is not easy," she believes.
However, Gold Power is already selling its watches in two of the mainland's most successful cities, namely Shanghai and Shenzhen. "We've managed to get quartz and mechanical models into both cities and the reaction so far has been favourable," Pong reveals. "It's a nice beginning but it's just the tip of the iceberg when you consider the wealth of possibilities there."
WRITTEN BY GEOFFREY SOMERS
Gold Power Worldwide Ltd