Sincere Watch
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Sincere Watch - overview
Established
1954
Location
Singapore, -, Singapore
Primary Industry
Consumer Products
About
Sincere Watch engages in the luxury watch industry, specializing in the distribution and retail of high-end timepieces from renowned brands. Their commitment to quality and customer service positions them as a notable player in this competitive market. Founded in 1954 and headquartered in Singapore, Sincere Watch focuses on the luxury watch sector, providing an array of prestigious timepieces. The company has undergone strategic pivots to enhance its distribution channels and customer engagement.
Alexandre Maruff, the founder, has a rich history in the watch industry, contributing to the brand's established presence in Singapore. Sincere Watch offers a curated selection of luxury timepieces from various esteemed brands, catering to the discerning needs of watch enthusiasts and collectors. Their services include personalized consultations and after-sales support to ensure customer satisfaction. The clientele spans various demographics, with a significant presence in Asia and growing interest in markets such as North America and Europe.
For the fiscal year 2024, Sincere Watch reported a revenue of USD 110. 72 mn and an EBITDA of USD 12. 82 mn, reflecting its successful business model centered around high-value luxury products. Sincere Watch aims to expand its product offering by introducing new luxury watch collections and accessories in the upcoming years, with launches planned for late 2024.
The company is targeting expansion into Europe and North America, aiming for a market presence by 2025. The recent investment from L Capital and Affirma Capital will support these strategic initiatives, enhancing product development and market penetration.
Primary Industry
Consumer Products
Sub Industries
Consumer Products
Website
www.sincere.com.sg
Total Amount Raised
Subscriber access only
Sincere Watch - timeline of key events
Sincere Watch - financials
| Fiscal Year Ended | Mar 31, 2016 | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 202,472,000 | 165,836,000 | 181,673,000 | 182,634,000 | 160,051,000 | 118,622,000 | - | - | - |
| % Revenue Growth (YoY) | - | (18.1%) | 9.5% | 0.5% | (12.4%) | (25.9%) | - | - | - |
| EBITDA (USD) | 74,401,000 | (4,860,000) | 4,388,000 | 3,758,000 | 6,068,000 | 7,266,000 | - | - | - |
| Operating Income (USD) | 69,830,000 | (7,604,000) | 1,858,000 | 1,566,000 | (5,887,000) | (3,915,000) | - | - | - |
| Operating Margin | 34.5% | (4.6%) | 1.0% | 0.9% | (3.7%) | (3.3%) | - | - | - |
| % EBITDA Margin | 36.7% | (2.9%) | 2.4% | 2.1% | 3.8% | 6.1% | - | - | - |
| NET Income (USD) | 69,220,000 | (9,296,000) | 358,000 | 278,000 | (7,965,000) | (6,022,000) | - | - | - |
| % Net Margin | 34.2% | (5.6%) | 0.2% | 0.2% | (5.0%) | (5.1%) | - | - | - |
Sincere Watch - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PIPE | Completed | Sincere Watch | - | ||||||||
| Unspecified Exit | Completed | Sincere Watch | - |
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Sincere Watch - employee data
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