Cortina's Sincere plan a timely move to dial into China's market
A merger will allow Cortina to expand breadth and diversity of collection, include access to Sincere's Franck Muller distributorship rights in 12 Asia-Pac countries
RUMOURS of its courtship has been swirling for months but like any budding romance, both parties played coy until Cortina Holdings' proposed acquisition of Sincere Watch finally surfaced in an exchange filing just past midnight on Monday.
Both companies are multi-brand luxury watch retailers with a long history in the local retail scene and the merger will see them give Singapore's other major luxe timepiece group The Hour Glass a run for its money.
Cortina's current portfolio of 32 brands, for one, looks set to overtake The Hour Glass' current 43.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance