Photo: Imran Sulaiman
Cover Jeremy Lim (Photo: Imran Sulaiman)

The CEO of Cortina Watch, which celebrates its 50th anniversary this year, shares why he is optimistic about the future of luxury watch retail

From a humble shop in the early '70s, Cortina Watch has grown into one of the leading luxury watch retailers in the region. Founded by Anthony Lim, today the company is overseen by his two sons, Raymond and Jeremy Lim.

As Group CEO, Raymond "formulates the strategic plans of the Group and directs their implementation". Promoted to CEO of Cortina Watch in 2021, Jeremy continues to take care of the core watch business, which includes retail operations in Malaysia, Indonesia and Thailand. 

See also: Patek Philippe Opens New Boutique in JW Marriott KL

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Anthony Lim posing in front of his first watch boutique in Colombo Court in Singapore in 1972
Above Anthony Lim posing in front of his first watch boutique in Colombo Court in Singapore in 1972

At 50, Cortina is going from strength to strength, reporting record earnings in the year ending March 2020, just as the world was shutting down from Covid. At the height of the pandemic in 2021, Cortina acquired Sincere Watch for S$84.7 million (about RM270 million), which it paid for in cash. The acquisition added the likes of Franck Muller, Parmigiani Fleurier and A. Lange & Sohne to the Group's already formidable roster of brands including Patek Philippe, Rolex, Vacheron Constantin, Zenith and H. Moser & Cie.

As part of the Golden Jubilee celebration, Cortina is collaborating with eight partner brands on a series of exclusive editions, which has already seen releases from Patek Philippe, Chopard and Blancpain. The year-long celebration will culminate in a gala dinner in November this year where all eight watches will be on display.

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Blancpain Fifty Fathoms Bathyscaphe Cortina 50th Anniversary in titanium with unidirectional bezel in Sedna gold
Above Blancpain Fifty Fathoms Bathyscaphe Cortina 50th Anniversary in titanium with unidirectional bezel in Sedna gold
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The sapphire crystal caseback is printed with the words "Cortina Watch 50th Anniversary Since 1972"
Above The sapphire crystal caseback is printed with the words "Cortina Watch 50th Anniversary Since 1972"

Although a milestone like this typically makes one feel a little reflective, Jeremy has his sights firmly fixed on the future. "I'm always thinking how we can do better. We don't want to be too comfortable and take things for granted," he explains. "We want to make sure the bar is always higher."

This is something Jeremy learnt from dad. "He's always saying we should strive to be better."

He gives his dad all the credit for Cortina's strong standing today. "It's more his achievement and he should be the one enjoying the fruits of his labour."

See also: Tay Liam Khoon Of Cortina Watch Malaysia Shares Tips On Buying Your First Luxury Watch

 

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Family ties: Raymond Lim, Anthony Lim and Jeremy Lim
Above Raymond, Anthony and Jeremy Lim

A finance and accounting graduate from Edith Cowan University, Australia, it seems natural for Jeremy to go into the family business, having grown up all his life around watches. "My earliest memory was spending every weekend at Colombo Court (where the first boutique was located), running around with the kids of the other tenants. I got to know the people working at the amusement park very well," he reminisces.

After a stint at KPMG, he joined Cortina as operations manager. His decades-long experience made him certain that bricks-and-mortar will remain an essential part of luxury watch retail. "Selling fine watches is all about the customer experience. You can always go online to buy a watch and you can find all the information you need on the internet, but you cannot do without the touch and feel experience." 

That can only happen in-store with the right environment and a knowledgable staff. "There needs to be more focus on customer experience because today's consumers are very sophisticated," Jeremy notes.

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Above Tay Liam Khoon, Deepa Chatrath, Jeremy Lim and Joseph Yeoh at the official opening of Patek Philippe in JW Marriott Hotel Kuala Lumpur

But the pandemic had also highlighted the necessity of digitalisation. "We've been talking about it for years but the pandemic completely changed our mindset. The first two months (of lockdown), we did everything we could digitally. We expedited our digitalisation plans. we started our e-commerce. We meet customers via Zoom, started a digital payment portal. The team huddled together to get through these difficult times."

The decision to purchase Sincere was bold. "But that's something I feel we can build upon. Sincere remains Sincere, Cortina is still Cortina. We will eventually do some differentiation in the sense that there will not be that many crossover brands. And because we're already in the watch business, we have this confidence to bring it to the next level. It's challenging but it's fun," he opines.

 

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Cortina Watch in Starhill Gallery
Above Cortina Watch in The Starhill

"What's interesting about luxury watch business to me is the people. I love meeting and interacting with everyone in the industry," Lim muses. "The other thing I like about it is that everyone is very hands-on. You have to be. The watchmakers put a lot of passion into the watches."

For Lim, the deciding factor to work with a new brand is the people behind it. "In the past, you can impress them with a big order. Now, I look at the quality and I want to know who are the people behind it. If I don't know who they are, then I won't know if they are serious. We want to uphold our reputation as we're the one facing the customers. We need to be responsible to our customers."

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