Can The Hour Glass roll back the time?
Once upon a time, there were three shining forces in Singapore stock market. Osim’s Ron Sim, Creative Technologies’ Sim Wong Hoo and The Hour Glass’ Jannie Chan used to dominate the entrepreneur scene. Together, the trio had won numerous awards for creating outstanding household brands. As a young boy, I have deep admiration for these business pioneers but Jannie Chan stood out among the three of them because of what she had done for The Hour Glass.
The Early Years
In the 80s and 90s, female entrepreneurs were almost unheard of, much less successful female entrepreneurs. The corporate and business community used to be dominated by males. Of course, there were female leaders but they were the exception rather than the norms.
Widely credited for co-founding The Hour Glass, Jannie Chan has been instrumental in building the luxury watch retailer into a SGX-listed company with international presence in Australia, Hong Kong, Japan, Thailand and Malaysia. Therefore, it pains me to read of her current plight because she had been my source of inspiration for several decades. Having achieved so much with The Hour Glass, I thought she deserved more during her twilight years.
In recent years, Jannie Chan had been involved in various legal disputes. Last year, she lost her appeal against ANZ seeking to recover $8.7 million in loan defaults by Timor Global in which she is a director and shareholder. She was also sued by former husband, Dr Henry Tay, for several times over defamatory emails. Recently, it was reported that she was given 2-week of suspended jail term for contempt of court.
Those good old days must seem so surreal for Jannie Chan. From the first store at the Lucky Plaza, she grew The Hour Glass into a regional force with 40 boutiques in nine key cities in the Asia-Pacific region. Impressively, the Group has evolved to curate collection of luxury watches from more than 50 of the world’s finest watch brands such as IWC, Patek Philippe, Rolex, TAG Heuer and the likes. Under Jannie’s leadership, it has been an exciting journey for The Hour Glass.
Business Performance
Notwithstanding the family disputes, The Hour Glass appears to be in [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
Read my previous articles on The Hour Glass:
- The Hour Glass Limited
- Is it worthwhile to invest in The Hour Glass?
- The explosive surge of The Hour Glass
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