Cortina Holdings

[luxurybrand]

Cortina AGM this friday!

Any update or report from the AGM?

[lazyplane]

Cortina AGM this friday!

Any update or report from the AGM?

Anyone has a view on this counter vs THG ?

[cyclone]

Financial Results for the Financial Year Ended 31 March 2018 ("FY2018")

1. 19% growth in revenue to S$466.3 million compared to FY2017
2. The full year profit after tax was S$23.1 million, higher than last year by S$10.6 million, or 85.3%
3. Earning per share was 13.5 cent
4. Cash and bank balances were at S$35.5 million, compared with S21.8 million at last year end
5. Healthy balance sheet, with a total equity of S$178.3 million as compared with S$159.5 million as at the last year end
6. Net asset value per share was 107.7 cent as at 31 March 2018
7. Proposes final dividend of 2.0 Singapore cents and final special dividend of 2.5 Singapore cent per ordinary share

More details in http://infopub.sgx.com/FileOpen/CHLFY201...eID=507529

Cortina today closed at S$0.840 (+0.005).

[brattzz]

https://www.businesstimes.com.sg/compani...1605579746

Cortina plans to acquire Sincere Watch for S$84.5m -> market consolidation in the luxury watch segment... :O

[brattzz]

https://www.theedgesingapore.com/news/co...ity-attack

Watch retailer Cortina Holdings C41 0.00% says it was subjected to a “sophisticated cyber-attack”. According to the group, an unknown party had gained unauthorised access to one of the group’s servers and encrypted the information. The incident took place only recently.

The group says that it has since taken immediate steps to identify, contain and address the potential attack on the server including isolating the affected server. It has also contacted its external information technology consultant to help with the matter. The police and the Personal Data Protection Commission have been informed.

Affected parties will be contacted on June 7.

Black Swan event for Cortina.... :O

[dreamybear]

The disparity seems quite significant. Somehow I think authorized car dealers may have similar practices in the form of freebies/rebates given.

------------------

Hacker leaks Cortina Watch’s data online, including customer details and sales tactics
https://www.straitstimes.com/singapore/h...es-tactics
"Another spreadsheet contained a list of several watch models with different prices listed for “retail”, “walk in” and “regular”. One entry listed retail as $48,130, walk in as $75,000, and regular as $73,000.....

They were also instructed to provide discounts of up to 10 per cent for certain customers and charge a higher price for walk-ins....."

[weijian]

A customer needs to woo his/her luxury product sales rep via building relationships. Then yes, they may have that 10% discount one day?

Imagine a lucky gambler roaming around at MBS The Shoppes, tired from his previous endeavors and looking to splurge on his/her winnings - He/She walk-in into a luxury shop....

Or a tourist who already has a predefined budget and committed himself/herself to buy some luxury product on this particular trip. There isn't too much time to shop/compare around...

(P.S. IT IS DURIAN SEASON. And you actually get such similar tactics practised by our very humbled and seasoned durian sellers too!)

[brattzz]

i am shocked to see such dealings, handling of clients, profiling, pricing strategy and tactics... such is the luxury market!!! VVVIPs handling!! :O :O :O

"Another spreadsheet contained a list of several watch models with different prices listed for “retail”, “walk in” and “regular”. One entry listed retail as $48,130, walk in as $75,000, and regular as $73,000.....

in-fact, i would stay away from such business... as much as i can.... :O :O :O

[Choon]

i am shocked to see such dealings, handling of clients, profiling, pricing strategy and tactics... such is the luxury market!!! VVVIPs handling!! :O :O :O

"Another spreadsheet contained a list of several watch models with different prices listed for “retail”, “walk in” and “regular”. One entry listed retail as $48,130, walk in as $75,000, and regular as $73,000.....

in-fact, i would stay away from such business... as much as i can.... :O :O :O

Trying to interpret this, walk in customer is charged $75K, regular customer is charged $73K, then what is "retail of $48K"?

On a separate point, this hacker is successful in hacking into Cortina system, he would have also tried or will proceed to try to hack into other watch retailer systems (e.g. The Hour Glass), to make the most of his knowledge of the systems of watch retailers.

[Big Toe]

Retail means retail price, or sticker price. Having a retail price of 48K would probably mean that the cost is probably between 33.6K-36K. (estimated figure, stronger brands less margin, newer less famous brand more margin)
Selling price is self explanatory.

Dont see anything wrong. Popular Luxury watches prices did rise way above their retail during the pandemic years. No one is forced into buying, in fact a lot of new customers are turned away as they did not have a " relationship" with the dealer.

Cost of making an entry LV bag is USD 200ish. Selling is USD 3400(and worksmanship is good but far from perfect). As far as I know, many many many people are buying. Tiffany have similar type of margins. I have always been tempted to buy a "cheap" piece of tiffany as I hardly give anything non essential to my other half. But nah...cant bring myself to do it due to the huge mark up.

Maybe in my younger days I would have been foolish enough to buy something from Tiffany, but I did not have the money then. Now that I could afford entry tiffany stuff, I am probably wise enough to know I should not.