Rahul Sharma (Editor)

Sincere Department Store

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Type
  
public trading company

Founder
  
Ma Ying Piu

Headquarters
  
Hong Kong

Industry
  
Fashion retailing

Founded
  
1900

Sincere Department Store uploadwikimediaorgwikipediacommonsthumbffe

Area served
  
Hong Kong and Mainland China

Key people
  
Board Chair Walter K.W. Ma, managing director/Executive Director Philip K.H. Ma and board member King Wing Ma

Products
  
consumer goods and services

Services
  
retail, advertising, travel

Stock price
  
0244 (HKG) HK$ 0.41 0.00 (0.00%)22 Mar, 4:00 PM GMT+8 - Disclaimer

CEO
  
King Huen Ma (26 Mar 2012–)

Profiles

Commercial sincere department store hong kong


Sincere Department Store (先施百貨) is a department store under the Sincere Company Limited and one of the oldest department chains in Hong Kong. Prior to 1949, its largest operation was in Shanghai, and along with Wing On (which survives in Hong Kong), Sun Sun (新新公司 1926–1951) and Da Sun (大新公司) was one of the "four great department stores" of Shanghai, and therefore, China generally.

Contents

History

Founded by Ma Ying Piu in 1900 after returning from Australia and partnership with others to form the first Chinese department store in then British Hong Kong. Ma was inspired by his experience with retail stores in Sydney. and modelled Sincere after David Jones. Now, the company is owned by the Ma family.

Prior to 1949, Sincere operated in China with stores in Shanghai, Nanning and Guangzhou. But with the founding of the People's Republic of China these locations were taken over by the Communist state, along with all other private companies in the country.

Post 1997

Since 1997, Sincere's retailing arm is mostly in Hong Kong with four locations in Hong Kong (Central: Li Po Chun Chambers;Causeway Bay: Percival Street) and Kowloon (Mong Kok: Grand Century Place; Mong Kok: Kingwah Centre; Sham Shui Po: Dragon Centre;Yau Tong: Domain(Yau Tong); and Tsuen Wan: Citywalk 2); there are Chinese location, including Dalian. The Ma family still has a place on the corporate board (Board Chair Walter K.W. Ma, managing director/Executive Director Philip K.H. Ma and board member King Wing Ma), but most day-to-day operations are run by non-family executives. Sincere is one of a few department stores that survived, many foreign and local firms have since disappeared.

Beyond retailing

Today Sincere has grown beyond retailing and diversified its portfolio:

property investment and property development

  • securities trading
  • advertising agency – 360°C Advertising
  • interior design – Pacific Falcon Design
  • furniture manufacturing – Sincere Living Furniture
  • travel agency franchising – Uniglobe Travel
  • References

    Sincere Department Store Wikipedia