GADGETS

The Shanghai Watch Company, a mainland watch maker that has created modest styles worn by Zhou Enlai, Communist China's first premier, Mao Zedong and Deng Xiaoping is now taking on the dominant European wristwatch designers like Piaget, Rolex and Audemars Piguet.

It's a lofty - some would say unrealistic - aim for a company who made its name producing inexpensive wind-up watches for the Chinese masses. Opening a host of watch boutiques in Hong Kong has been a good stratefy as the city, which imports 50% more Swiss watches than the U.S. by dollar value, doesn't charge any sales tax. That lures wealthy buyers from the Chinese mainland to do their luxury shopping.

Shanghai Watch's owners repositioned the brand at the luxury end of the market some two years ago, and launched two high-end watches designed by celebrated Swiss watchmaker Eric Giroud. Unusually, while most luxury watches are powered by Swiss movements, even the guts of Shanghai Watch's timepieces are made entirely in China. Only 200 of the rose gold and white gold watches with alligator leather straps have been created. They retail for about $30,000 and feature a sophisticated tourbillion mechanism. Yet another creation coated with 45 carats in diamonds, was made to order for a mainland Chinese customer, and marks the most expensive watch yet designed by the 55-year-old firm at over $100,000.

The Shanghai Watch Coompany's factory was set up in 1955 and has produced over 120 million watches. Fortunately with more realistic talks between their new younger thinking product manager and other fun designers from around the world, the ageless Chinese timelord may become a force to be watched.
 

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