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Mr Lee is known not just for his vast luxury watch emporiums in San Gabriel and Walnut, southern California, but also as one of the country's most prolific Ferrari collectors.
California and New York are the worst affected areas, but many other multiples are acting ahead of government orders to shutter their stores.
Hing Wa Lee and CH Premier Jewelers carve up the Californian market for Chinese customers between them. Interestingly, the former has Rolex as its anchor brand and the latter has Patek Philippe. Neither has both brands, but David Lee, CEO of Hing Wa Lee might change that by acquiring prestige watch retailers in other parts of the United States. What other growth plans does he have and how did the Hing Wa Lee group grow into today’s $300 million enterprise? WatchPro’s Rob Corder spoke to Mr Lee to find out.
Chief executive David Lee says the buy out will broaden the customer base of his business to a new city and it would not be dependent on Chinese customers.
Pre-owned luxury watch specialist WatchBox has singed its first authorized dealer partner in the United States. Hing Wa Lee Jewelers, an authorized dealer for Rolex...