DICKSON Concepts (International) plans to sell watches in China at more than three million yuan (about HK$4 million at official rates) each from May 13.
The company said yesterday that it had exclusive marketing rights for 11 brands, including Rolex and Tudor.
It also gave further details of its plans to dazzle mainland consumers with expensive designer goods.
An exhibition of products worth $100 million, including antique lighters from ST Dupont and museum pieces from Charles Jourdan, would tour major cities, starting with Beijing, chairman Dickson Poon said.
The move would make his company ''a pioneer in the marketing and distribution of quality timepieces in China'', he said.
''Initially the bulk of the business will be done through the lower or medium market, but I think it is important to stimulate interest in Chinese consumers for more exclusive or expensive products.'' Prices will start at 300 yuan.
Mr Poon brushed aside worries that operating costs might get out of control because of Chinese inflation, indicating that the mix of yuan and Hongkong dollar prices would insulate the operation from the sliding value of the Chinese currency.