Annual Sales of SHANGHAI Watch has again Hit 100 million

On 21 March, Yuyuan Inc. (600655.SH) disclosed in its 2021 annual report that its revenue has increased by 12.2% year on year, among which the watch sector has hit a new record.

The revival scheme of SHANGHAI Watch has made some progress. In 2021, the annual sales of the “SHANGHAI” brand has regained its position in the billion club of domestic watch brands.

Image: the SHANGHAI Watch worn by Zhou Enlai

SHANGHAI Watch is a classic representation of “made in Shanghai.” It is also a household name for mechanical watches in China. Ever since the first mechanical watch with fine escapement designed and manufactured by SHANGHAI Watch was created in the New China in 1955, millions of SHANGHAI watches have been sold.

At the beginning of the reform and opening up period, Shanghai’s watch industry took a hit from quartz watches and imported watches. In 1999, SHANGHAI Watch was reconstructed. On 20 November 2019, with the establishment of Fosun Watch Group by the publicly listed Yuyuan Inc. under the leadership of Fosun, Shanghai Watch Industries Co. Ltd. and Tianjin Seagull Watches Group formed a south-north partnership to promote the revival of China’s watch-making industry.

Shanghai Watch Industry’ brands renewal strategy includes:

• Carry on the historical and cultural gene
• Founded on the spirit of Shanghai’s city culture
• Promote oriental aesthetics through watches
• Further innovative brand marketing and communications
• Fuel Shanghai city’s soft brand power

The brand now has five featured product series – the classic “Salute series” that demonstrates historical gene, the “Metropolitan series” that was inspired by Shanghai’s city spirit, the “Revival series” that focuses on oriental aesthetics, the limited “Great Artists series” that features the joint outcome with artists, and the trendy “FAB CHRONO SHANGHAI series” that is targeted at young people.

Promoted by the innovation of brand and product, SHANGHAI Watch will complete its upgrade from “manufacture value” to “brand value,” which means that China’s watch brand is stepping onto the international watch-making stage.

| Photo Credit: Yuyuan Inc.