As for Sincere, it has a one-of-a-kind Franck Muller "high complication" watch that costs a cool US$870,000 -- equivalent to the price of five average-sized apartments in the city-state.
To draw rich buyers, Singapore boasts opulent outlets and high service standards, local retailers say. Its infrastructure and positioning as a shopping haven also add to its allure.
However, to compete with the big boys in Asia like Japan and Hongkong, retailers feel Singapore has to develop highly-trained watchmakers who can support an after-sales service industry.
Hong Kong already has a watch manufacturing industry, while Malaysia has started to manufacture parts, making it even more crucial for Singapore to embark on a similar path, according to retailers.
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