Annual Middle East Watch of the Year Awards opens for nominations; LVMH's Profit slipped by 4%; Swiss Watch Exports up by 3.0% during the first half-year

Market News

Annual Middle East Watch of the Year Awards opens for nominations

The nominations for the Middle East Watch of the Year are now being accepted at

www.mpp-me.com/mewatch/company/Login.aspx. The awards ceremony will be held at the Ritz-Carlton Hotel, Dubai International Financial Centre, Dubai on the 27th of November 2014. Audi Corporate is the main sponsor of this prestigious and yearly awards event. The objective of this award is to recognize and reward the best brand performers in watch industry in the Middle East.

LVMH's Profit slipped by 4%

LVMH reported that revenue improved 3% year on year to $18.9 billion (EUR 14 billion) in the first half of the year, while the luxury group's share of profit slipped 4% to $2 billion. Economic uncertainties continued to make multi-brand retailers prudent in their inventory replenishment. The performance in the brands’ own boutiques exhibited significant growth.

Swiss Watch Exports up by 3.0% during the first half-year

According to the Federation of the Swiss Watch Industry FH, the increase in Swiss watch exports in June was comparable to that of April and May. The total value was 1.9 billion francs, an increase of 1.4% compared to June 2013. The first half-year thus recorded growth of 3.0% and saw exports pass the 10 billion franc mark (10.5 billion). The rise in value recorded in June is attributable to watches manufactured from precious metals. Steel and bimetallic timepieces for their part attained a level comparable to 2013. The number of timepieces exported increased more significantly thanks mainly to the category of other materials, which proved particularly dynamic. The category of other metals on the other hand registered a sharp downturn.

Swatch to open stores in India

Swatch has applied to set up stores in India, a report said last month, as the Swiss-based watchmaker moves to tap a growing and increasingly accessory-conscious consumer class. The watchmaker would be the biggest international group to seek entry into India's 100-percent-owned single-brand retail segment. Swatch watches, including Omega, Longines and Tissot, are currently are sold in India through dealers and third-party stores.

Kering acquires Ulysse Nardin

Kering net income profit increased by 7% to $248 million (EUR 185 million); however, recurring net income from continuing operations fell 4.7 percent to $743 million (EUR 555 million). Kering announced that it signed an agreement to acquire Ulysse Nardin. The brand will become part of Kering's luxury, watches and jewelry division, which is headed by Albert Bensoussan. The transaction is subject to the approval of the competition authorities and is expected to complete during the second half of 2014.

Gold imports by India to drop by 15%

Gold imports by India, the world’s biggest consumer after China, will probably decline for a third year as the government keeps curbs on shipments to prevent the current-account deficit from widening and to support the rupee. Foreign purchases may drop 15% to 700 metric tons in 2014, according to the median of estimates from analysts and jewelers. Imports fell 44% to 350 tons in the first half, government and World Gold Council data show.

Dubai ranked fifth global destination in the world

Dubai moved up two spots from 2013 to be the fifth global destination for international travelers this year, according to the Global Destination Cities Index published by MasterCard last month. The emirate is estimated to see a 7.5 per cent increase in visitor numbers in 2014 to 12 million, it expects visitors to spend $11 billion in Dubai this year.

Abu Dhabi International Airport passenger traffic increased by 21.4% in June

Abu Dhabi International Airport recorded a 21.4 per cent increase in passenger traffic in June compared with June 2013, Abu Dhabi Airport said. The airports body also announced an increase of 19.4% for the airport in the first half of 2014 against the same period last year. A total of 9,481,744 passengers passed through the airport in the first six months of 2014, up from 7,941,922 in the equivalent period in 2013.

Company News

BOVET partners with Asprey Boutique in London

Bovet announces the signature of a highly symbolic partnership with the Asprey House that shares the same culture of true luxury and values, underlined by the extraordinary longevity of both Houses. Asprey continues with BOVET timepieces to present a unique and finely crafted selection of timepieces within Asprey’s timepiece portfolio. Collectors will find within Asprey’s boutique a wide and complete range of the 2014 latest collections.

Carl F. Bucherer sponsors the American Friends of LUCERNE FESTIVAL

Carl F. Bucherer sponsors the American Friends of LUCERNE FESTIVAL, bringing international awareness of this famous Swiss classical music festival abroad. On May 19th, the American Friends of LUCERNE FESTIVAL invited supporters of the famous Lucerne music festival to an exclusive benefit concert at New York’s Four Seasons Hotel. This event provided a platform for classical music where gifted young pupils of the well-known Juilliard School met outstanding conductors of the established LUCERNE FESTIVAL, such as Matthias Pintscher, and the pupils performed the musical program.

A&S Chronora opens a new ROLEX boutique in Jounieh - Lebanon

In celebration of its 10th anniversary, A&S Chronora, the exclusive and sole representatives of ROLEX & TUDOR Watches in Lebanon, launches its second boutique in Jounieh Bay’s Old Souk. In accordance with its beliefs in the preservation of the Lebanese cultural heritage, A&S Chronora chose to occupy a restored 19th century house with 140m2 ROLEX showroom. Decorated in Rolex’s signature design concept, with a unique Lebanese architectural artifact design in its external showcases, the Jounieh boutique is strongly linked to its sister showroom in Beirut.

Damiani merges with Rocca

In a recent move Damiani board of directors has approved merging its operation with its group’s subsidiary Rocca in an effort to increase synergies and corporate functions between the two jewellery manufacturers. The Italian family managed company Damiani was founded in Valenza in 1924.while Rocca was founded in 1794 is a jewelry chain with a history dating back more than 200 years and offers a brand of jewelry and watches.

GJEPC's donates INR One crore to Make a Wish India

Gem and Jewellery Export Promotion Council (GJEPC) organised “Jewellers for Hope” charity dinner in association with GSI, last month at the Grand Hyatt, Mumbai 2014. The “Jewellers for Hope” annual charity dinner is the first edition of GJEPC's commitment towards the betterment of the society. Through the generosity of the manufacturers, GJEPC raised INR One Crore. Mr. Vipul Shah, Chairman, GJEPC; Mr. Pankaj Parekh, Vice Chairman, GJEPC; Mr. Colin Shah, Convener – Jewellery Panel; Mr. Nirav Bhansali, Convener – Domestic Exhibitions presented the cheque to Make-A-Wish India - Mr. Uday Joshi and Mr. Maneck Davar.

Product Launch

Boucheron creates one-of-a-kind Falcon pendant especially for the UAE

Maison Boucheron has designed one-of-a-kind pendant featuring a Falcon especially for the UAE. The Pendant in white gold features 3 fancy Onyx totaling 2,35 carats, 113 round Sapphires totaling 4,74 carats, and 122 round diamonds totaling 2,59 carats. Boucheron is a French family dynasty founded by Frederic Boucheron in 1858. The House has ceaselessly seduced the most discerning, drawing them in with the world’s most beautiful and precious creations. Boucheron takes much of its jewellery inspiration from the natural world.

Arnold & Son presents the HMS Beagle Set

The Beagle’s second voyage is best known for a five-week stopover in the Galapagos Island, which gave Charles Darwin the foundations for his theory of evolution. The set comprises three timepieces each with a different Arnold & Son in-house movement: the HM, with the ultra-thin A&S1001 movement with over 90 hours of power reserve; the TB, with the self-winding A&S6103 movement with integrated true beat seconds system; and the UTTE, featuring the ultra-thin tourbillon calibre A&S8200 with a one-minute flying tourbillon and over 90 hours of power reserve. The movements are housed in 18-carat white gold, 18-carat rose gold and 18-carat red gold cases, respectively, with black alligator straps. The magnificent HMS Beagle timepieces are available in a limited edition of just eight sets of three watches each.

Jaguar and Bremont launches bespoke wristwatch

Jaguar has recently announced further news in its relationship with the Bremont Watch Company and revealed one of six unique wristwatches to be offered to customers of the six new Lightweight E-types to be built by Jaguar Heritage. Drawing inspiration directly from the car, the 43mm watch features a black dial based on the look of a Lightweight RPM gauge and featuring a subtle ‘red zone’ quadrant. The chamfered hour and minute hands replicate the instrument’s tachometer needle, while the chassis number of the relevant car is printed at the six o’clock position. The central band of the white gold case is made from aluminium saved during the construction of the new Lightweight body panels and will be anodised to match the colour of the car it is designed to complement.

GRIEB & BENZINGER unveils another special watch commissioned for the Middle East

GRIEB & BENZINGER bespoke timepieces for the Middle East customers effectively spiked a tremendous demand in the Arab region. Following the BLACK TULIP SABUDHA and the GREEN INSPIRATION, the masters of GRIEB & BENZINGER have created another custom-designed timepiece for one watch connoisseur in the Emirates: the PHAROS AL ARAB IMPERIAL, inspired by the Arabian Sea. The PHAROS AL ARAB IMPERIAL comes in a solid 18K rose gold case with 66 Princess-cut diamonds set in the bezel. This is a timepiece that catches the eye alone by virtue of its amazing appearance: Arabic numerals on the regulator-style upper dial combine with a handcrafted, guilloché, blue-coated base dial that changes color as sun beams touch it. Sparkling royal Princess-cut diamonds cast their reflective beams on the bezel.

The Sirius Lion Edition by Chronoswiss

A special model is being launched exclusively to mark the opening of the new Chronoswiss headquarters. Available in a strictly limited quantity, the Sirius Lion Edition pays homage to the city of Lucerne. With its timelessly elegant design, so typical of the Sirius line, the Lion Edition's perfect harmony, bright dial and applied hour markers make it a captivating timepiece. The lion enthroned on the dial is a reference to the city of Lucerne, which counts the famous Lion Monument as one of its best-loved landmarks. The serial number of this limited edition also appears in red at the center of the dial. One hundred watches were produced in stainless steel and 30 in red gold for this limited special edition.

FENDI unveils the new Crazy Carats in precious colorful mink

The Crazy Carats is presented with a new dramatic dial in either off-white or black, highlighting the precious stone markers. A twist of the crown uniquely reveals three shimmering precious stone choices – either white diamonds, pink or blue sapphires - to fit the woman’s mood in the blink of an eye. Each of the four FENDI Crazy Carats Fall-Winter 2014-15 watches is bedecked in precious stones up to almost seven carats depending on the model. FENDI creates each watch in a limited edition of 50 pieces.

“Healey GMT 24H” Collection by Frédérique Constant

This year, Frédérique Constant announced the company’s continuing partnership with just such an automobile – the iconic NOJ393 Healey. As well as participating in the event known as the International Austin Healey Pentecost, which this year was held from June 6th to 9th, near Zurich, Switzerland, Frédérique Constant’s exceptional watchmakers have created their own unique blend of passion and precision engineering in the form of the all-new Healey GMT 24H Collection. This exciting new range is comprised of three watches, each of which is powered by the FC-350 Automatic GMT movement. All watches feature an excellent range of functions, including hours, minutes, seconds, date and GMT 24H. The local time can easily be set up via the hour hand.

Celebrity News

Riley Keough Fatale wears de GRISOGONO for a photoshoot in Cannes

Following her Terrace appearance at the Hotel Martinez in Cannes, Riley Keough did a photoshoot in one of the hotel's majestic suites wearing de GRISOGONO creations. Riley Keough started her modelling career as a teenager. Her first appearance was on a runway for Dolce & Gabbana. She has also appeared on the cover of Vogue.

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