Prima Times and the Hour Glass Open New Chapter in Thai Specialty Watch Retailing

Prima Times and The Hour Glass Open New Chapter in Thai Specialty Watch Retailing 2008 May 13th – Bangkok, Thailand Prima Times Co. Ltd, an associated company of Blue River Corporation, and The Hour Glass (Thailand) Co. Ltd, a wholly-owned subsidiary of The Hour Glass Ltd have successfully incorporated a 50:50 joint venture company – PMT The Hour Glass. The partnership is set to become Thailand’s leading retailer of specialist timepieces. Leveraging on Blue River Corporation’s strong position within Thailand’s luxury retail market and The Hour Glass’s status as one of the world’s leading watch retailers, PMT The Hour Glass will offer its clienteles the widest selection of premier timepieces available in Asia, along with bespoke services and an ultimate shopping experience for aficionados and first time buyers alike. PMT The Hour Glass will showcase limited editions and highly sought-after timepieces from world-renowned brands such as Rolex, Patek Philippe, Audemars Piguet, Chopard, and Jaeger Le Coultre. In addition, PMT The Hour Glass will be the exclusive Thailand distributor of unique and signature pieces from Richard Mille, Gerald Genta, Daniel Roth, and other prestigious brands. PMT The Hour Glass will be the only location in the Kingdom where collectors can find masterpieces from some of the industry’s most celebrated artisans, including Philippe Dufour, Vianney Halter, Kari Voutilainen, and Urwerk. Dedicated to developing Thailand’s fine watch culture, PMT The Hour Glass also plans to continuously introduce new horology brands and independent watchmakers to the Thai public. According to Narun Thamavaranukup, Vice President of Blue River Corporation and the Managing Director of PMT The Hour Glass, the teaming of Prima Times and The Hour Glass is highly complementary: “Our companies share a similar vision, goals, and business philosophy – the most important ingredients in any successful joint venture. PMT The Hour Glass will benefit from a tremendous amount of synergy in our increased brand portfolio, additional retail outlets, and enlarged customer base. The combined management team is highly experienced, energetic, and one of the most forward-thinking in Thailand’s luxury retailing industry.” PMT The Hour Glass will begin operation with four boutiques – all located in Bangkok’s most prestigious shopping centers. These outlets will be comprised of three “PMT The Hour Glass” multi-brand format stores in Siam Paragon Shopping Centre, Gaysorn Shopping Centre, and Emporium Shopping Complex, as well as a Chopard mono-brand boutique in Siam Paragon. About PMT The Hour Glass - THG Prima Times Established in 2008, PMT The Hour Glass is a 50:50 joint venture company founded by Prima Times Co., Ltd. and The Hour Glass Group. The retail watch specialist firm offers Thailand’s widest selection of timepieces from international brands and independent watchmakers. Its four boutiques at Siam Paragon, Graysorn Plaza, Emporium, and Peninsula are located in the Kingdom’s most prestigious shopping districts and sell exquisite creations from Patek Philippe, Audemars Piguet, Chopard, Rolex, Jaeger Le Coultre, Gerald Genta, Glashutte Original, Daniel Roth, Tudor, Sinn, Glycine, Philip Stein, De Bethune, Richard Mille, Philippe Dufour, Vianney Halter, Urwerk, and other leaders in the field of horology. THG Prima Time’s mission is to combine the world’s finest timepieces with friendly horological expertise that makes the purchase of a mechanical watch a rewarding experience for aficionados and first time buyers alike. The firm’s dynamic young management team is under the stewardship of Managing Director Narun Thamavaranukup and Executive Director Nitchaya Thamavaranukup of the Blue River Corporation. About Prima Times Ltd. Founded in 1995, Prima Times has firmly established itself as one of Thailand's leading luxury watch retailers. The company's sophisticated approach to retailing quickly established it as a market pioneer. Driven by an aesthetic that balances modern innovations with classic designs, Prima Times selects only the very best international brands to showcase at its boutiques, and always with a clear understanding of the lifestyle needs of its clients. With over a decade of experience, Prima Times maintains excellent relationships with its suppliers. A member of Blue River Corporation's haute joaillerie business, the company is the authorized dealer for five celebrated watch brands: Audemars Piguet, Chopard, Chronoswiss, Concord, and Patek Philippe. In 2005, Prima Times opened Thailand's first Chopard Boutique at the Siam Paragon where it was granted the exclusive rights to distribute some of the world's most limited and highly sought-after timepieces. As purveyors of fine watches, Prima Times retains both certified watchmakers and highly-trained sales professionals on the premises at all times, with state-of-the-art equipment to facilitate every service. Each of its boutique is individually designed to reflect a warm and friendly atmosphere that captures the true art of fine living—an atmosphere that's become the company's trademark. About The Hour Glass The Hour Glass is Asia’s most geographically diversified, multi-brand, specialist watch retailer and most recently, voted by Wallpaper magazine’s 2007 annual watch guide as Asia’s premier specialist watch retailer as well as occupying a spot amongst the world’s top 5. From a one-boutique operation in 1979, The Hour Glass Group has developed a regional network of 23 boutiques strategically located in prime shopping belts in Australia, Hong Kong, Japan, Malaysia, Singapore and Thailand. In September 2006, the company won the Securities Investors' Association, investors choice award for "Most Transparent Company Award 2006"; this prestigious award is endorsed and supported by the Singapore Stock Exchange, Standard & Poors, PricewaterhouseCoopers, the Business Times & the Asian Corporate Governance Association. This was subsequently followed by the Brand Laureate award for brand excellence in the fine timepieces category by the prestigious Asia Pacific Brands Foundation in Kuala Lumpur, Malaysia in January 2007. The Hour Glass is also an active member of the internationally recognized Fondation de la Haute Horlogerie (FHH) as well as a staunch supporter of the Academie Horlogere des Createurs Independants (AHCI) and Time Aeon, watch guilds aimed at preserving the traditional art of watchmaking. In May 2002, The Hour Glass opened its first multi-brand boutique in Ginza, Tokyo’s most prestigious shopping district and continued its regional expansion programme in 2003 where The Hour Glass expanded its Thai operations, opening a 2,000 sq ft flagship store in Gaysorn Plaza, Bangkok. The Hour Glass was appointed the sole agent and distributor for Montblanc in Australia and opened its first franchised boutique in Sydney in March 2004 followed by two others in Melbourne and one in Brisbane. More recently, two new The Hour Glass multi-brand boutiques were opened in Kuala Lumpur in KL Pavilion and Mid Valley – The Gardens in September 2007..

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