Move over, Rolex (2)

Re-branding ambition

Ge first became interested in Sea-Gull four years ago, and in the past year has tried to persuade Ping An Trust & Investment Co, the controlling shareholder of Shanghai Jahwa, to invest in the watch company. But following a shareholder meeting on December 18, he admitted that Ping An Trust did not agree with the investment plan.

Ge sold 60,000 of his shares in Shanghai Jahwa for about 3 million yuan ($482,100) on December 24, prompting market speculation that he would use the money to invest in Sea-Gull personally.

"Neither Shanghai Jahwa nor Ge has invested in Sea-Gull so far. Currently Ge is doing consulting work for Sea-Gull," Xu Aiping, a member of the Shanghai Jahwa PR department, told the Global Times on January 22.

Ge was not reachable for comment. He had described his plans to re-brand Sea-Gull in more than 20 Sina Weibo posts since January 5, but wrote on January 21, "I will not say anything more about Sea-Gull, and people will see its performance two years later."

According to his comments, Sea-Gull's financial performance could be improved in two to three years by reforming the company's management style. The company has the potential to become a well-known international brand in five to 10 years, Ge believes.

Sea-Gull's Tianjin factory made China's first watch in 1955 and the product was once seen as a luxury item in China. But the brand has gradually lost its appeal since the 1990s, with the low end of the market dominated by cheaper quartz watches and the high end taken over by famous Swiss brands.

Ge's ambition echoes Lü Jun, general manager of Tianjin Sea-Gull Watch, who also aims to rebuild the 58-year-old brand into a luxury one.