Market News

Dubai Duty Free 31st Anniversary sales rise to Dhs188.86 million

A 25 per cent discount across a range of merchandise over a three-day period resulted in Dh188.86 million worth of sales for Dubai Duty Free, marking its 31st anniversary on December 20. The sale began at midnight on December 17 and continued for 72 hours until midnight on December 20, the airport retailer said in a statement, in line with the high passenger traffic expected over the pre-Christmas holiday weekend. The watches as the second most popular category on the anniversary day with sales of Dh25.3 million.

TAG Heuer CEO Resigns as brand lowers its sights

In recent news Jean-Claude Biver, the head of watches for LVMH, which owns TAG Heuer, Zenith and Hublot will serve as interim CEO for TAG Heuer following the resignation of Stéphane Linder. Hence Jean-Claude Biver will be running TAG Heuer for the forseeable future.  In a statement issued recently, the company said Linder was leaving to “pursue other professional interests.” Last June, TAG Heuer failed to release the Carrera powered by the new in-house CH80 movement. The company said it would instead focus on producing just one chronograph movement in-house, the CH1887, to “respond more effectively to current market needs.” 

Company News

RICHARD MILLE – Pablo Mac Donough and La Dolfina win the Triple Crown in Argentina

The final of the Triple Crown was played last 7th of December in Palermo. This highly prestigious polo tournament reunites every year the best teams from the Argentinean championship. Lead by Adolfo Cambiaso, Pablo Mac Donough’s team La Dolfina, competed against its usual enemy Ellerstina in a spectacular finale. Both teams persevered but the desire for victory by Pablo and his team enabled them to clinch the win after a tough match

Jaeger-LeCoultre’s watches awarded in Spain and Austria

Jaeger-LeCoultre has been awarded two second prizes at the Chrono Award watch competition. The winners of the award Chrono watch competition - a prize-giving ceremony organized by the two business magazines Trend and Format in which the readers choose their favorite watch in six different categories were announced during the gala in the Media Tower on Friday, November 14th, 2014 in Vienna. Jaeger-LeCoultre Master Ultra Thin Minute Repeater Flying Tourbillon was awarded with the second prize in the category First Class watches.

Arnold & Son announces the Time Pyramid winner of the ‘Best Design Watch’

Arnold & Son was among the winners of The Arabian Watches & Jewellery (AWJ) Magazine’s - the Middle East Watch of the year Awards. The award ceremony was accompanied by a grand dinner reception at the Ritz Carlton on Thursday, 27th November. It was with great honor that Philippe Boven of Arnold & Son accepted the award for ‘Best Design Watch’ attributed by the jury to the Time Pyramid. The event was attended by over 300 distinguished high profile guests.

Officine Panerai reopens its Florence boutique

Officine Panerai reopened and enlarged its historic boutique in Florence, Officine Panerai reopened and enlarged its historic boutique in Florence, the city in which the brand was founded, having commissioned the architect designer Patricia Urquiola to carry out the project. Situated in the centre of Florence, in the Piazza San Giovanni, Officine Panerai’s historic boutique is has one to four large display windows.

Hublot enters into the world of poker players

Hublot has achieved yet another master stroke by signing with the World Poker Tour in Las Vegas to become Official Timekeeper and Official Watch of the international poker circuit. Ricardo Guadalupe, CEO of Hublot, announces the partnership at the WPT® Five Diamond World Poker Classic, WPT Alpha8™ Las Vegas, organised and televised (FOX Sports) from 15th to 20th December at the Bellagio, the legendary Las Vegas hotel and capital of international poker. The event was attended by the greatest professional and amateur players on the poker circuit.

Abbati leaves Fossil to Nardelli Luxury

Stefano Abbati leaves Fossil, of which he was managing director, and takes a stake in Nardelli Luxury. Abbati started a career in companies of mass market, as Granarolo and Ferrero. He then moved in Sector Group and subsequently in Binda Group and Fossil. Abbati will alongside Nardelli as vice president in the internationalization strategy of Liu Jo Luxury and development license globally by strengthening the team that sees Salvatore Francavilla general manager and sales manager Paolo Innocenti.

Product Launch

Hermès launches its Arceau Automatic timepiece

Hermès presents its Arceau Automatic timepiece with the addition of the date and a slightly smaller diameter for both steel and rose gold versions. The centre of the opaline silvered dial is stamped with the herringbone motif, while two slender hands sweep around the twelve sloping numerals characterising the Arceau line. The classic and elegant men’s timepiece is driven by the Hermès mechanical manufacture movement H1837 and is available in rose gold with a havana alligator strap and in steel with a black alligator strap.

Clerc presents Hydroscaph H140 Carbon Limited Edition Chronograph

The new Hydroscaph H140 Carbon Limited Edition Chronograph’s technical and powerful case is not only made of DLC-coated steel but also features a new high-tech material called CCFC. The rotating bezel with its emblematic octagonal lines is protected from any involuntary activation by an exclusive device: a built-in retractable flap on the case middle must first be deployed before pivoting the bezel. CCFC is injected with resin and deposited in multiple layers, each weave at 45° from one another. After subsequent heating, the material is easier to machine than any other composite, allowing all sorts of creative high-precision manufacturing possibilities. The sapphire crystal case-back of this limited-edition watch commemorating the 140th anniversary of the Maison Clerc a plunging view of another feat: the exclusive C608 calibre beating at the heart of the Hydroscaph H140 Carbon Limited Edition Chronograph.

Exhibitions & Events

Christies Auction for the benefit of the Rashid Center for Disabled

“The Panerai Only” auction in Paris

The “Panerai Only” auction held in Paris on 8 December at Artcurial ended with proceeds of more than one million euros and it was entirely devoted to the historic watches of Officine Panerai, the Florentine high quality sports watchmaker and historic supplier to the Italian Navy. In the course of the auction two world records were broken by two models of great importance in the history of Officine Panerai. The first was an extremely rare “Radiomir Egiziano”. The other world record was a Radiomir PAM00021.

Celebrity News

Rihanna wears Chopard while performing at the Clara Lionel Foundation's Diamond Ball

During her performance of "Diamonds" Rihanna wore  a yellow diamond necklace from the “High Jewelry” collection featuring yellow diamonds set in yellow gold, a yellow diamond bracelet from the “High Jewelry” collection featuring yellow diamonds set in  yellow gold, a diamond ring from the “High Jewelry” collection featuring yellow diamond and diamonds set in  yellow gold and white gold, a diamond ring from the “High Jewelry” collection featuring yellow diamond and diamonds set in platinum and a tanzanite and diamond ring from the “High Jewelry” collection featuring tanzanite and diamonds in white gold.

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