Cortina wows with S$4m investment

Singapore

IT cost Cortina Watch around S$4 million and nearly two years of planning to get the world's biggest Patek Philippe boutique up and running, according to Raymond Lim, Cortina's deputy chairman and deputy chief executive officer.

The luxury watch boutique is located in Taiwan and Mr Lim had to travel there often to supervise its opening. It's huge, easily twice the size of Cortina's biggest Patek Philippe boutique at Marina Bay Sands in Singapore.

"It's the first time I see something that big for Patek," exclaimed Thierry Stern, president of the Swiss family-owned Patek Philippe, at the opening of the 4,500 square feet boutique last month in Taipei 101, a landmark building at the heart of Taiwan's capital.

"It's fantastic (that) we could do it," he said. "(It's) not only about the watches but also the right partner. You get somebody you can trust, very professional and willing to invest to do something like this."

Taipei 101, which houses most of the high-fashion brands and luxury watch boutiques, was the world's tallest building before the appearance of Burj Khalifa in Dubai in 2010. But it remains a must-see tourist attraction. Bus-loads of tourists from mainland China are seen to stop by at Taipei 101 daily.

Chinese tourists in fact were very much in Cortina's mind when it moved to open the Patek Philippe boutique there, where it once had a multi-brand watch shop, Mr Lim said.

The Chinese are the biggest spenders on luxury timepieces in recent years. While they have cut back demand at home, Mr Lim said the Chinese are still buying big-time when they travel overseas.

Patek Philippe is arguably the biggest name in upscale watches and Cortina's new boutique in Taiwan carries some of its most desirable models. At its grand opening last month, the boutique unveiled the 6002G Sky Moon Tourbillon, a rare and artistic complication that's very much in demand.

It also introduced several new Patek Philippe creations, including the Multi-Scale Chronograph launched to celebrate the brand's 175th anniversary last October.

The boutique, designed in consultation with Patek Philippe, features iconic materials like Birdseye maple wood and Indian rosewood, combined with modern brass in vintage burnished finishes. There's an exclusive Patek Philippe chandelier and table lamps which were built in collaboration with Baccarat.

"The boutique is further accentuated with custom-made accessories such as the Calatrava Cross panels, floor rugs, timeline exposition and identifiable visuals that help facilitate the organisation of the sales area while enhancing the luxurious intimacy of the VIP room," said a statement issued by Patek Philippe.

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