Cortina to buy Sincere Watch for $84.5 mil

The Edge Singapore
The Edge Singapore11/17/2020 2:21 AM GMT+08  • 3 min read
Cortina to buy Sincere Watch for $84.5 mil
Cortina plans to fund 60% of this acquisition through bank loans and the remainder via internal resources.
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Cortina Holdings plans to pay $84.5 million in cash for 18 boutiques now run by fellow luxury watch retailer Sincere Watch.

Besides the Sincere Watch chain of multi-brand retail outlets in Singapore and Malaysia, the target company also runs a similar business in Thailand under the Pendulum brand.

These boutiques carry brands such as A. Lange & Söhne, Audemars Piguet, Franck Muller, IWC, Jaeger-LeCoultre, Panerai, Omega, Vacheron Constatin and Tudor.

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