MANAGING director of Renley Watch Manufacturing Stanley Lau Chin-ho is one of few Hong Kong watchmakers trying to re-write the territory's watch manufacturing history of producing low-end timepieces.
Mr Lau said if more watch factories made high-quality watches, it would help increase the competitiveness of Hong Kong watches in overseas markets.
Renley is one of the few companies manufacturing a range of quality watches in Hong Kong. Mr Lau said producers of low-quality watches were facing tough competition from China, which accounted for 67 per cent of the world's total watch output.
At present, about 90 per cent of Hong Kong watch manufacturers produce low-quality, low-price watches.
'In the long run, the proportion of low-end and high-end watches will become about seven to three,' Mr Lau said.
'Hong Kong is in a good position to make quality watches, because we can get up-to-date information [on manufacturing techniques] and conduct research and development.' Switzerland is still the world leader in quality watchmaking, followed by Japan and Hong Hong.
Before establishing Renley, Mr Lau worked for Titus International and the Stelux Group, which both produced brand name watches.
