Visionaries are hard to come by in the retail business, an area which is by and large rooted in conservatism and governed by financial projections. By common consensus, one such visionary is Michael Tay, 44-year-old Group Managing Director of The Hour Glass and second-generation member of its founding family.
Established in Singapore in 1979 by Dr Henry Tay and Jannie Chan, The Hour Glass has grown to become the leading retailer in the region. Its strong presence throughout Asia-Pacific, with 45 watch boutiques in eight countries (Singapore, Malaysia, Thailand, Vietnam, Hong Kong, Japan, Australia and New Zealand) makes it a global watch retail powerhouse and puts Michael Tay in the highest league of players in the business of horology.
While Tay’s facts-only biography is impressive enough to justify his presence (by any metric) on the list of the most important watch industry personalities in the last two decades, it is his wider – and mostly unreported, yet universally acknowledged – influence on the industry in general that truly sets him apart.
His outstandingly prescient management of the family business through the 2008 world economic crisis enabled The Hour Glass to expand at a time when everyone else was cutting back. Longstanding relationships forged with The Hour Glass propelled some of today’s most exciting and sought-after brands, such as luxury lifestyle juggernaut Hublot and indie favourite MB&F, into prominence in Asia and cemented Tay’s reputation for astute leadership and that elusive kingmaking touch. The most talked-about new brand with an ever-lengthening waiting list, Akrivia, owes much to Tay’s personal attention and guidance over the past three years.
In addition to his role as business leader, Michael Tay is also a pillar of the worldwide watch community, serving as a member of the Cultural Council of the Fondation de la Haute Horlogerie and with multiple stints as jury member of the Grand Prix d’Horlogerie de Genève. His expertise and insight is valued highly by institutions such as Art Basel Cities and international humanitarian NGO Mercy Relief, where he serves on their advisory boards and councils.
*On the occasion of GMT Magazine and WorldTempus' 20th anniversary, we have embarked on the ambitious project of summarising the last 20 years in watchmaking in The Millennium Watch Book, a big, beautifully laid out coffee table book. This article is an extract. The Millennium Watch Book is available on www.the-watch-book.com, in French and English, with a 10% discount if you use the following code: WT2021.
