Market Report

Jaeger-LeCoultre award a prize to the three best horse breeders

Jaeger-LeCoultre awarded three prizes to celebrate the work of the three best horse breeders at a dinner organised by the World Breeding Federation of Sport Horses (WBFSH) and attended by its patron, HRH the Princess Benedikt of Denmark, and president, Jan Pedersen. This award follows the international competitions that took place in the various countries of the horse breeders during the course of the year in three disciplines: dressage, jumping and eventing. Dutch dressage breeders Maartje & Joop Hanse; French breeder Agnès Grosz, represented by her son Paul Grosz, for jumping and Spanish breeder Ramon Beca, represented by his daugthers Maria Beca Trias and Frida Beca, for eventing.

Market News

Swatch takes major stake in Dubai's Rivoli by buying additional 18 per cent stake

Technocorp Holding Ltd, a Swatch Group company, said last Monday it is increasing its stake in Dubai-based Company Rivoli Investments. According to a company statement, swatch said it was purchasing a tranche of shares and would be taking control of Rivoli Investments, without specifying how big a stake it now held. Swatch Group previously held a 40 percent equity interest in Rivoli Investments, which operates a network of over 360 retail businesses in the Middle East, predominantly active in the watch segment. Earlier this October, it was reported that the private equity arm of Dubai Holding, which is owned by the emirate's ruler, was planning to sell its minority stake in Rivoli. The company has a workforce of over 1,500 employees.

Dubai’s GDP increases by 4.7%

Dubai’s economy has been on an upswing this year so far, driven by services, transportation, logistics, retail and tourism sectors. The emirate has recovered from the corporate debt crisis and real estate slump which it faced in 2009 and 2010 by enhancing its position as a major destination for travel and investment from the Middle East and Europe. Dubai’s real gross domestic product (GDP) is projected to climb 4.7 per cent in 2013, and by 4.5 per cent in 2014, according to estimates by Dubai’s Department of Economic Development (DED). The growth rate of Dubai’s GDP stood at 4.7 per cent for the second quarter of 2013, compared to the same period a year ago, according to the Dubai Economic Outlook (DEO), Quarter 2/2013 report, issued by the Secretariat General of the Dubai Economic Council (DEC). The growth was driven by the wholesale and retail, transportation, manufacturing and real estate sectors.

Cartier watch exhibition opens in Dubai Mall

For the second time “The Secrets of Cartier Precious Watches”, a fully dedicated exhibition to the Maison’s latest watchmaking collections was open to the public at Dubai mall’s Grand Atrium. Cartier displayed both its fine watchmaking and high Jewellery. Set in an Art Deco style, the exhibition gathers more than 70 watches with female and male creations highlighting Cartier’s expertise.

Company News

Roger Dubuis CEO on Middle East Tour

Jean-Marc Pontroue CEO of Roger Dubuis unveiled the brands SIHH 2014 Novelties during his recent tour. Jean-Marc Pontroue has revealed to the Middle East Media the brands SIHH Novelties that includes the new Hommage Chrono with handmade Guilloche, the new Velvet ladies jeweled watches. The case is in pink gold. Endowed with historical design codes including long slender lugs, a concave bezel, large Roman numerals, a fluted crown and a distinctive folding clasp, it also features a range of subtle new touches. Strap: Brown strap, genuine alligator and Clasp: Pink gold adjustable folding buckle.

Arnold & Son is honoured with an award for Best Breakthrough of the Year

Arnold & Son is presented by Spiral Magazine, Hong Kong, with the award for Best Breakthrough of the Year. Spiral’s 2013 Awards went to a selection of outstanding new products from the watchmaking industry launched before cut-off date on 30 June 2013. Awards were divided into 15 categories for different watch types and features, with a shortlist of ten products in each category. An experienced team of journalists selected them for an online public vote and evaluation by an expert jury comprising well-known watch collectors, journalists and luxury watch retailers. Online voting was open between 10 July and 31 August 2013.

Damas reveals ambitious vision for future with a new corporate identity

Damas announced a new vision that will drive the company’s efforts to match the luxury jewellery industry’s rapid development. For the past two years, Damas leadership closely reviewed the company’s commercial, retail and operational strategies in collaboration with major international consulting firms. The Damas ‘glamour and mystery’ advertising campaign was also unveiled to reveal its new corporate identity.

Eberhard & Co. awards prize to Richard Park

Eberhard & Co.’s General Manager - Mario Peserico presents an award to Richard Park at the Palapenz Centre in Chiasso, the number 27 in the Ticino ice hockey team which is sponsored by the Eberhard & Co. Richard Park was voted 2013 Player of the Year by his team mates and by the team’s management.

Montblanc Hosts "An Extraordinary Evening of Passion, Creativity & Heritage" in Abu Dhabi

In celebration of the opening of its latest Middle East boutique in The Galleria, Al Maryah Island, Abu Dhabi, Montblanc hosted an “Extraordinary Evening of Passion, Creativity & Heritage” for 150 high profile guests and friends of the luxury brand. Welcomed by Montblanc’s Global CEO, Jerome Lambert, guests enjoyed an evening of exquisite artistry, entertainment and elegant hospitality that combined the heritage and passion of both the luxury maison and the culture of Abu Dhabi.

Product Launch

GRAHAM presents Silverstone RS Skeleton

The mix of materials such as polished and hand-drawn strokes steel ceramics on the bezel with an aluminium ring under it and finally a rubber strap. Inside the skeleton, dial sports two counters and offers an exceptional overview on the gearwheel and the shaded grey and rhodium movement. The lateral porthole on the slim-art case, Crown secured by a bayonet system and safety coloured ring, coloured knurled aluminium ring under the bezel, black dial, sapphire crystal with GRAHAM inscription, anti-reflective coating on both faces, see-through sapphire crystal case back.

Chaumet reveals its Liens watch collection in Dubai

Chaumet Middle East has revealed its new Liens watch collection in the Middle East. The Liens watch flowing lines of its round case are enhanced by the strength of steel or the poetry of pink gold and Diamonds. The each side of the dial is with a leather or metal bracelet. The dial is in white lacquer and satin-finish silver.

Exhibitions & Events

Antiquorum to kick off the Holiday Season with its December Auction

Antiquorum looks forward to kicking off the holiday season with its “Important Modern & Vintage Timepieces” auction on December 11th at its US headquarters on Madison Avenue in New York City. A selection of 343 collectable timepieces will be presented in the sale highlighted by a Patek Philippe Ref. 5207 and a Patek Philippe Ref. 3974. The highlight of the sale is an extraordinary Patek Philippe Ref. 5207 Tourbillon Minute Repeater Perpetual Calendar with Honey Gold Dial in Platinum and Patek Philippe Ref. 3974 Minute Repeating Perpetual Calendar in Platinum. Marking the end of the 50th anniversary year of the celebrated Daytona model, Antiquorum is pleased to offer Rolex fans three outstanding examples of the “Paul Newman” Daytona in the December sale.

BIJORHCA Paris the International Fine and Fashion Jewellery show

BIJORHCA Paris the international trade show will be held on 24th – 27th January 2014 at Paris. Over 4 days and twice a year, it allows to 430 fashion and fine jewellery designers to present their collections. 54% of the exhibitors are from outside France, representing 30 countries. It is a unique and welcoming place between 13,000 buyers from 90 countries, 35% from outside France.

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