No income tax in Saudi Arabia; Geneva Watch Days to be held next month in Switzerland; Watches & Wonders for the first time in Shanghai

   
 
 

Market News

 

No income tax in Saudi Arabia

According to Saudi Press Agency reports, Saudi Arabia has clarified that introducing an income tax is not under discussion. And that the subject has not been raised at the cabinet or any government level.

 

Geneva Watch Days to be held next month in Switzerland

Geneva Watch Days will be held from August 26th to August 29th in associated Boutiques and Hotels located in downtown Geneva. This operation officially supported by the Republic and Canton of Geneva will bring together a total of 17 brands with very different profiles within a unique format. While each of the brands will present its new products to the press and clients in its own space – whether a boutique or hotel – by appointment only, this initiative will enable the Geneva public to discover and learn about the new models presented by the officially participating Maisons in a tent set up in the city centre, on the Rotonde du Mont- Blanc at no. 10 Quai du Mont-Blanc.
 

Watches & Wonders for the first time in Shanghai

Watches & Wonders is making its Shanghai debut. This leading watch fair, which will observe strict Health and safety measures, will take place September 9th to 13th, 2020 at the West Bund Art Center. By invitation only, this exclusive event is where media, retailers and clients can experience the fabulous world of fine watchmaking and also be first to see the latest creations from the eleven exhibiting brands. It carries on from the online Watches & Wonders fair that took place at end April on the watchesandwonders.com platform. The participating brands will welcome visitors inside two halls at the heart of West Bund Art Center. The exhibiting brands are: A. Lange & Söhne, Baume & Mercier, Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Parmigiani Fleurier, Piaget, Purnell, Roger Dubuis and Vacheron Constantin.
 

India about to take a leap of faith to become world’s biggest gems and jewellery exports hub

Colin Shah, Chairman GJEPC said, “Without going into the nuances of the move, I feel that this will possibly create opportunities for India in the Gems & Jewellery trade. For the US, HK & China are the 4th largest importing destinations of gems & jewellery after India, France and Italy. Hong Kong  & China exported gem and jewellery worth $980.85 million and $2622.19 million respectively to US in the year 2019. Ending of Preferential treaty as per the new order with HK would open new business avenues for India. The manufacturing business has the potent to witness a shift to India from China. However HK & China is also an important destination for India’s Gem & Jewellery Exports with nearly 27% of exports directed to that market which contains diamonds and gemstones which are used as raw materials for studded jewellery exports to US. Many Indian Diamond and Jewellery companies have their offices in HK and the move is likely to impact their businesses too.”
“India possesses natural benefit of ready availability of raw material, manpower and skillsets, a sector with 5 million workforce and a ready infrastructure to cater to the global demand. Indian gem & jewellery sector  has an opportunity ahead to take a quantum leap to become the global leader and a trading hub in the gems and jewellery.”, Chairman Colin Shah added.
According to GJEPC, India has exported gem and jewellery worth $10.48 billion in 2018-19 and $9.17Bn in 2019-20 to the USA, which is 26% percent of overall gems and jewellery exports from India. Thus US shares a larger pie for the gems and jewellery consumption from India.
 
 

Company News

 

Chopard appoints Wu Dajing and Liang Bo as Friends of the Brand for the Alpine Eagle Collection

Chopard has announced the appointment of Olympic champion Wu Dajing, and singer Liang Bo, as Friends of the Brand for the Alpine Eagle Collection. These two exceptional individuals will highlight the profound appeal of the collection from very different angles. The former is a short track speed skater at the height of his success who has worked his way to victory, breaking the 500-metre world record for men’s short track speed skating on several occasions. The latter is a versatile artist with a keen devotion to music, who uses his extraordinary talent to forge moving works in a variety of styles encompassing powerful songs that instantly strike a chord with listeners.
 

Chaumet supports Riviera Dinner in aid of Naked Heart France

On 17th July restaurant La Guérite held their first post-quarantine charity event. The Riviera Dinner, generously supported by Chaumet, was hosted by Natalia Vodianova and Anna Andres and raised much-needed funds for the vital work of Naked Heart France, helping children with special needs in Russia. A discreet gathering was held on the rocky cove of Ile Sainte-Marguerite. Attendees included: Natalia Vodianova, Antoine Arnault, Anna Andres, David Barokas, Joan Smalls, Yseult, Pierre Casiraghi, Beatrice Borromeo Casiraghi, Camilla Fayed, Alessandra Rich, Stephane Rotenberg, Frederik Paulsen and Olga Litviniuk, Xenia Adonts, Mathieu Cesar, Serge de Yougoslavie, Xenia Lukash, Chloe Lecareux, Frida Aasen and many others.
 

Gucci launches a new collaborative project based around the G-Timeless Watch

Gucci has pioneered several collaborative projects, sharing its vision in the digital space. Now, House Creative Director Alessandro Michele has invited a number of visual artists from around the world to bring their personal and idiosyncratic perspectives to bear on the G-Timeless automatic watch. The Gucci G-Timeless watch features a stone dial decorated with the House’s famous bees, while the transparent case back gives a glimpse of the automatic movement that powers the timepieces. There are eight Swiss-made variations of the G-Timeless in all, with a 38mm or a 42mm case. Three models combine an 18kt yellow gold case with a black onyx, brown tiger eye or green malachite stone dial. Five further variants combine a steel case with a blue lapis stone dial or a black onyx stone dial.
 

ULYSSE NARDIN partners with OCEARCH

Continuing its commitment to supporting marine research, ULYSSE NARDIN, has teamed up with OCEARCH, a data and scientific driven organization that works collaboratively with researchers and educational institutions to better understand the movement and habits of sharks. OCEARCH’s urgent mission is to accelerate the ocean’s return to balance and abundance through fearless innovation in scientific research, education, outreach, and policy, using unique collaborations of individuals and organizations in the U.S. and abroad. Throughout the years, ULYSSE NARDIN has created several timepieces that pay homage to different shark species in celebration of the brand’s close connection to the world’s oceans, making the partnership with OCEARCH all the more natural. The latest entry is the Limited Edition, The Diver Chronograph Hammerhead Shark.
 

Zenith celebrates friend of the brand Patrick Mouratoglou’s Ultimate Tennis Showdown

Mouratoglou is reaching another star in his career: The creation of his own tennis league, in a totally new and innovative format that seeks to appeal to a younger, more inclusive demographic while emphasizing the sense of entertainment in the sport. Zenith is proud to support Patrick Mouratoglou in his new endeavour. To celebrate the debut Ultimate Tennis Showdown tournament and Zenith’s burgeoning friendship with Patrick Mouratoglou, a special rendition of its 1/100th of a second chronograph was in order: the DEFY 21 Patrick Mouratoglou edition, featuring a case and bezel crafted in light yet robust carbon, a composite material used in professional tennis rackets, the sleek and sporty chronograph style and performance are not mutually exclusive.
 

Tatiana Verstraeten to enter three-year partnership with UN Women

International jeweler Tatiana Verstraeten to enter three-year partnership with UN Women France and donate 100% proceeds of sales of an exclusive high jewelry piece to the charity. UN Women is the United Nations entity for gender equality and the empowerment of women. It was Tatiana’s long-standing wish to contribute to such an important philanthropic cause. This July 2020 is the 10th anniversary of the charity working to develop an environment in which every woman and girl can exercise her human rights and live up to her full potential. Most recently they are helping women in need followingthe pandemic to support suffering from increasing domestic violence or education inequality after the lockdown period.
 
 

Product Launch

 

Jaeger-Lecoultre and Mr Porter introduce the Master Ultra Thin Kingsman Knife Watch

Jaeger-LeCoultre and MR PORTER has launched the Master Ultra-Thin KINGSMAN Knife watch, a limited edition of 100 timepieces, specially adapted for The King’s Man, the upcoming Kingsman origins film directed by Matthew Vaughn. The Jaeger-LeCoultre Master Ultra Thin Kingsman Knife watch will be offered exclusively on MR PORTER, as a key part of The King’s Man ‘costume to collection’, from July 20th to September 6th. After that date, the watch will also be available directly from Jaeger-LeCoultre online and in selected boutiques.

 

Linde Werdelin introduces the Oktopus MoonLite

This piece is only the third series in Linde Werdelin’s history to use ALW in the entire case since the original MoonLite was released in 2014. This latest series has a black ceramic bezel. Linde Werdelin’s in-house moonphase complication is at the heart of the Oktopus MoonLite, a statement of the brand's adventurous spirit, and directly applicable to diving. The moonphase complication enables divers to track the development of the moon phases and the impact on tides and ambient light, to plan the optimal time for night dives. The current MoonLite has been tested and worn by renowned free diver Jacques de Vos, a longtime friend of the brand, "The Oktopus MoonLite functions and feels awesome underwater. One of the most important traits in a dive watch is its ability to be at home in any surrounding.

 

Parmigiani Fleurier’s New Tonda GT Line

Three distinct sporty, yet elegant designs will kick off the release of the Tonda GT in polished and satin-finished stainless steel or 18-ct rose gold, embodying Parmigiani’s years of expertise and design ethos following golden ratio parameters. The case shape is inspired by the Tonda Chronor watch, which was awarded the Chronograph Watch Prize from the Grand Prix d’Horlogerie de Genève in 2017. Parmigiani Fleurier worked with watch designer, Dino Modolo, to reinterpret its design codes, resulting in a reimagined case with updated lugs and an integrated bracelet ergonomically designed for ultimate comfort. Its fluted bezel recalls another Parmigiani Fleurier icon- the Toric collection- and the dials are finished with traditional “clou triangulaire” guilloché.

 

Backes & Strauss introduces the Limited Edition Regent Arqaam Collection

Backes & Strauss in a collaboration with Splendore Unique has launched the Regent Arqaam Collection. The oval-shaped Regent Backes & Strauss timepiece will be available in a limited series, featuring the Arabic-Hindu numerals on the dial. The watch will be available in the 40 x 47 mm size and will feature 5 coloured dials - British Racing Green, Backes Blue, Red, Burgundy and Black - each limited to 10 pieces. The case back will have the numbers 1/10 engraved in the Arabic-Hindu numerals. The timepiece will have an automatic movement with a platinum rotor and will come with assorted colours of alligator strap.
 

H20 by HYT

Accepting time’s unstoppable flow turns every good-bye into a hello. The final version of the H20 by HYT, with its very own literal fil rouge, is living proof of this theory. This five-strong limited edition celebrates the series’ huge capacity to shape the brand’s past, present and future. In the latest model, a red lacquered line guides the eye on its 360° tour of time, around the side of the domed crystal. This elegantly surmounts and descends the crown, while neat red markers cap the numbers circuiting the case. HYT consistently portrays the fascinating interplay of time and space, demonstrating that this is never a two-dimensional snapshot viewed head-on for an isolated moment.
 

U-BOAT launches Sommerso Bronze

A nod to antique diving equipment worn by the earliest nautical divers is evident and empathized by the natural oxidation of the material of the 46mm case, which creates a naturally aged look, often a unique one, extremely desirable by its wearer. Necessary for every pro-dive watch, it features a rotating unidirectional bezel with calibrated markers every five minutes interspersed with numbers every ten minutes from 10 to 50. On its left side is the characteristic U-BOAT crown with a patented protective device. A Sapphire crystal with anti-reflective coating protects the watch dial which is composed of three superimposed layers with the upper one in black with luminous beige hands and markers plus an additional counter for the 24 hours of the day and the date placed on the opposite side. Water resistant to 300 meters, the watch also paired the case with a dark brown handmade and hand finished calf leather strap with a bronze buckle subdued to a special anti-corrosion treatment.
 

The Longines Avigation Watch Type A-7 1935

The Longines Avigation Watch Type A-7 1935 pays homage to aviation's finest hours. Longines has been associated with the aeronautical universe and its pioneers since the beginning of the 20th century. For this new timepiece, the brand takes inspiration from a model ordered by the U.S. Air Force in 1935. In order to be designated "Type A-7” by the US Army so that it could be worn by its pilots, the watch had to meet extremely rigorous specifications in terms of aesthetics, durability and precision. Faithful to the original model, the new variation of The Longines Avigation Watch Type A-7 1935 sets itself apart with its black dial shifted 40° to the right. The particular orientation of the dial allowed pilots to read the indices without having to release the plane's control yoke.
 

Chronoswiss introduces Open Gear ReSec Chocolate

The luscious Chronoswiss Open Gear ReSec Chocolate features a dark case and a structured dial in fiery chilli-red. Nicknamed Chocolate, the case is both satin smooth and scratch-resistant, thanks to a uniquely hued PVD coating inspired by a Grand-Cru dark chocolate bar by Lucerne-based Max Chocolatier. A chilli and cranberry red “dial” gives a fiery impact to the minimalist design void of numerals. “This is actually not the dial, but the mainplate of the mechanical movement. Its structured, fine-grained, powdery appearance is achieved by sandblasting a red varnish mixed with a see-through pigment,” Panziera continues. On this model which is limited to 50 timepieces, the regulator has been given a hypnotic twist: the second hand is a retrograde.
 

NOMOS Glashütte celebrates 175 years of watchmaking

NOMOS Glashütte is marking this significant anniversary with three limited-edition versions of a classic model.  These three new versions of Ludwig have traditional features that are unusual for NOMOS timepieces - making them even more classic. To start, all three have a polished, enamel-white dial, reminiscent of early pocket watches. However, modern production methods make these new watches stronger and more durable, and so even more beautiful. The rounded hands in the classic leaf form are also special - as well as tempered blue, of course, according to Glashütte tradition. They ensure that these watches are exceptionally legible.
 

Fabergé launches Hilal Crescent Collection

Fabergé is shining a light on the latest additions to the Crescent collection. Comprising of Pendant, Earrings and Ring, the capsule collection has been named Hilal, after the Arabic term for crescent moon. The trio of elegant accessories bring both beauty and spiritual guidance to its wearer. Hand crafted from 18k yellow gold with Fabergé’s iconic decorative fluting, each crescent moon is complemented by glistening pavé set diamonds and a beautiful star featuring a Gemfields Zambian emerald, responsibly sourced from the Kagem mine in Zambia.
 

Roberto Coin presents Venetian Princess Collection

The story that the Venetian Princess collection tells is a majestic fairy tale that has been passed along in the narrow alleyways of Venice, illuminated only by the reflection of lanterns on the water. All of the pieces in the collection preserve this secret tale. On the outside, diamonds and other precious stones will captivate you with an enchanting pattern that evokes the decorations on the ancient palaces of Venice, and recalls the romantic look of all of the jewels in the Princess Family. In this collection, more than ever, the iconic weave of gold threads hidden inside each jewel seems to be keeping a precious secret as it evokes the mystery that has always characterized the city of Venice.
 

Montblanc Writers Edition Homage To Victor Hugo

The Montblanc Writers Edition celebrates the literary giants who have made their mark on world literature through the power and artistry of their writing. The new limited edition pays tribute to the creative talent and cultural legacy of Victor Marie Hugo (1802 – 1885). Considered one of the greatest French Romantic writers, the novelist, poet, dramatist and illustrator developed his own distinctive style of imaginative realism, pairing realistic elements with abundant symbolism. Crafted in the Montblanc Ateliers, four different editions bring to life the magic of Hugo’s works from the imposing architecture of Notre Dame Cathedral in Paris to the compelling characters of Jean Valjean in Les Misérables.
 

Montegrappa introduces House Colours collection inspired by the Wizarding World

Hogwarts School of Witchcraft and Wizardry is the subject of a studious new collection of Montegrappa writing instruments from the world of Harry Potter. The five models comprising the Montegrappa Harry Potter: House Colours collection have all been created to the same high wizarding standards, but each has been filled with the spirit of Hogwarts’ four houses. A special, fifth design bears the Hogwarts crest, proudly atop a mosaic of lion, raven, badger and serpent. Made for Harry Potter fans of all ages, every element of this scholarly collection is cloaked in house emblems, colours and values. Coat-of-arms motifs are arranged around the barrel's tartan surface, and every clip proudly sports a dashing pair of stripes.
 
 
 
 

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