Sincere Department Store
| Company type | Private |
|---|---|
| Industry | Retail |
| Founded | January 8, 1900 |
| Founder | Ma Ying-piu and associates |
| Headquarters | Hong Kong , Hong Kong |
Area served | Hong Kong, China |
Key people | Walter K.W. Ma (Chairman), Philip K.H. Ma (Managing Director), King Wing Ma (Board Member) |
| Products | Department store goods, property investment and development, securities trading, advertising services, interior design, furniture manufacturing, travel agency franchising |
| Owner | Ma family |
Sincere Department Store (), operated by Sincere Company Limited, ranks among the longest-established department store chains in Hong Kong. Prior to 1949, its primary operations were based in Shanghai, where it was recognized as one of the "four great department stores" alongside Wing On, Sun Sun, and Da Sun, playing a significant role in the Chinese retail industry.
History
Established on 8 January 1900 by Ma Ying-piu and his associates, Sincere holds the distinction of being Hong Kong’s inaugural Chinese-owned department store. Ma drew inspiration from Australian retail practices such as those at David Jones during his stay in Sydney, founding a company that continues to be family-controlled.
The Shanghai branch of Sincere was launched in 1917, marking it as the first department store owned by Chinese interests in that city and a leading figure among the "Four Great Companies." These establishments introduced contemporary department store concepts and equitable customer service to Shanghai’s commercial areas, influenced by Australian models brought by Cantonese immigrants.
Before the outbreak of World War II, Sincere operated outlets in Shanghai, Nanning, and Guangzhou. The Guangzhou store was destroyed during wartime. Following the establishment of the People’s Republic of China in 1949, private businesses including Sincere were nationalized; consequently, the Shanghai location ceased operations in 1954, and its associated hotel underwent partial nationalization by 1956.
In 1993, Sincere made a return to mainland China by opening a shopping centre on East Nanjing Road in Shanghai.
On 15 May 2020, Realord Group Holdings Limited announced a voluntary conditional cash offer to purchase all shares of The Sincere Company Limited for HKD 500 million.
Post 1997
From 1997 onwards, Sincere has concentrated its retail presence primarily within Hong Kong, maintaining outlets in Central (Li Po Chun Chambers), Causeway Bay (Percival Street), and multiple locations across Kowloon (Mong Kok: Grand Century Place and King Wah Centre; Sham Shui Po: Dragon Centre; Yau Tong: Domain; Tsuen Wan: Citywalk 2), alongside operations in Dalian, China. The Ma family continues to exert considerable influence on governance—Walter K.W. Ma serves as chairman, Philip K.H. Ma as managing director, and King Wing Ma as a board member—while day-to-day management is largely entrusted to professional executives outside the family. Sincere remains notable as one of the few department stores to survive amidst the withdrawal of numerous local and international rivals.
Beyond retailing
Sincere has expanded its business activities beyond retail into several fields:
- Property investment and development
- Securities trading
- Advertising services – 360 °C Advertising
- Interior design – Pacific Falcon Design
- Furniture manufacturing – Sincere Living Furniture
- Travel agency franchising – Uniglobe Travel