How 60-cent cups of kopi inspired a luxury watch shop owner’s approach to money

Desmond Pang, a 33-year-old owner of K.B. Luxury Watch and Jewellery in Jurong, Singapore, learned the importance of consistent accumulation from a young age. As a child, he would help at his father's coffee shop, where a cup of kopi was sold for 60 cents. The money drawer often overflowed with coins, illustrating the potential for small amounts to grow over time.

Pang, who studied banking and finance at the Singapore Institute of Management, joined the family watch business in 2014 after his father acquired it. He focused on pre-owned luxury watches and gradually expanded into higher-end brands. Over 12 years, the business' inventory value grew from $400,000 to around $2.5 million. Pang emphasizes that success in his business comes from consistent growth and building over time, rather than overnight success.

He advises not to rush into financial decisions and to make informed choices, rather than following false promises. Pang's first job was selling headphones at a tech gadget store, which taught him customer interaction and professional communication. He realized the importance of health and family early on, after his wife and newborn motivated him to prioritize wellness.

Despite his success, Pang lives modestly in a four-room flat, focusing on reinvesting earnings into his business rather than a lavish lifestyle.