Market News

UAE show economic growth in 2011

According to the International Monetary Fund, the UAE real GDP is projected to rebound by around 3.3 percent in 2011 as the domestic economy continues go gain pace on the back of high public spending and recovery in Dubai. Growth will be in both oil and non-oil sectors while strong oil prices will support economic expansion and surpluses in the country’s budget and current account, the Washington-based IMF said in statement. In concluding the 2011 Article IV consultation, the IMF executive directors found that the UAE economy, the second largest in the Arab world after Saudi Arabia, is recovering, the report said.

Ahmed Seddiqi & Sons underscores importance of Luxury Timepieces to UAE's Retail Industry

As the Federation of the Swiss Watch Industry FH releases the first quarter Swiss watch import reports for 2011, the figures position the UAE among the top 10 importers of Swiss timepieces. The report shows that the UAE has already reached 175, 500, 000 Swiss Francs in Q1 of 2011, building on the total global figure of 578, 500, 000 in 2010, illustrating an optimistic boost for the local market. Compared to the 2010 numbers, the report indicated a healthy growth in the first Q1 although compared to the 2009 figures, the UAE has achieved an 81.5 percent growth.

Tiffany Q1 profit up by 26 percent

Tiffany & Co. has posted a 20 percent year on year increase in sales at $761 million for its first fiscal quarter while cost of sales rose 19 percent to $317.3 million. Net earnings rose 26 percent to $81.1 million for the three months that ended April 30. The worldwide sales rose 16 percent. Substantial growth was registered in Asia-Pacific and only Japan recorded a sales decline.

Harry Winston teams with diamond investment fund

Harry Winston Diamond Corp. has entered into a partnership with Diamond Asset Advisors AG (DAA), which is establishing a polished diamond investment fund. The arrangement will be structured as a limited partnership, of up to $250 million. It calls for Winston’s diamond team to source high-quality diamonds, including some from its inventory. The fund will then purchase the diamonds, and consign them to Winston, which will act as their custodian and use them in the manufacturing of its products. The price paid to replace polished diamonds sold by Winston in its finished products will be used by the fund as a basis for determining its market value.

Company News

Hublot celebrates the official opening of its Boutique Berlin on Kurfurstendamm

Hublot is proudly announced the official opening and inauguration of its Boutique at Kurfurstendamm 56-58 with a ribbon-cutting ceremony. Hublot CEO Jean-Claude Biver and Hublot's brand ambassador Maria Hofl-Riesch, one of Germany's most successful female alpine skiers, welcomed invited guests and Hublot watch enthusiasts to the event. The Hublot Boutique is situated on one of Berlin's most prestigious streets, which attracts not only watch enthusiasts but also international visitors to the capital.

OMEGA and Yann Arthus-Bertrand to collaborate on a film

During the event on the Italian island of Capri held on 19^th of May, OMEGA announced its collaboration with environmentalist/filmmaker Yann Arthus-Bertrand to create a film about the Earth's oceans, serving to remind viewers of these natural beauties that cover two-thirds of the planet's surface and to raise awareness of what can be done to protect them.  At the same event, OMEGA also announced that it has entered into a partnership with GoodPlanet, an organization founded by Arthus-Bertrand. GoodPlanet has established a global reputation for its unflinching dedication to the promotion of sustainable development.

Audemars Piguet sponsors Flash: Light New York

On 7^th May 2011, Audemars Piguet embarked on a new adventure with its first foray into the art world. The company was proud to sponsor Flash:Light, an evening for artists working in light, sound, performance and projection art to transform an iconic neighborhood in New York City into a spectacular nighttime environment of temporary, site-specific public art.  An initiative of Nuit Blanche New York, Flash:Light was a featured project of the New Museum's Festival of Ideas for the New City.

A. Lange & Sohne trainee win Swiss competition for young watchmakers

Rabea Sethmacher, a young watchmaking student from A. Lange & Sohne won first prize in the IHC Competition, the "Con­cours de l’Institut d’Hor­logerie Cartier 2011" (IHC) on 7 May 2011 in Neuchatel. While another Lange trainee Fanny Ruhle won fourth place with a stop-seconds mechanism in the shape of a broken heart. Winning two out of the top ten places, trainees from the Lange Watchmaking School have enjoyed remarkable success in the most important Swiss competition for young watchmakers. The IHC Competition for up-and-coming watchmakers is held every year in Switzerland.

Blancpain Endurance Series in Spain

The nr1 Vita4One Ferrari 458 of Michael Bartels, Frank Kechele and Nico Verdonck took their first victory in the Blancpain Endurance Series at Navarra in Spain, finishing 17 seconds ahead of the Belgian Audi Club Audi R8 LMS of Stephane Ortelli, Bert Longin and Filipe Alburquerqe. Ortelli, starting from Pole Position held the lead until Kechele took the lead on lap 17. The Vita4One Ferrari then set the pace for the rest of the race. Round 1 winners Gianluca Roda, Raffaele Gianmaria and Paolo Ruberti taking the final podium place in the AutOrlando Porsche 997 GT3 R to maintain their championship lead after two races.

Vahina Giocante wears Jaeger-LeCoultre watch at 64th Cannes Film Festival

Jaeger-LeCoultre has long established relations with the world of cinema. During the opening ceremony of the 64th Cannes Film Festival, the famous French actress Vahina Giocante looked dazzling on the Red Carpet wearing a Jaeger-LeCoultre 101 Joaillerie watch that holds the world’s smallest mechanical movement.

The prix de Diane Longines promotes the art of elegance

This year Longines has the honour of being for the first time the title partner in the Prix de Diane Longines. True to its slogan “Elegance is an attitude”, the famous Swiss watchmaker will have the privilege of awarding the Longines Prize for Elegance to the most elegant woman. Aishwarya Rai-Bachchan, the brand’s ambassador of elegance, will be Longines’ special guest at the event on 12 June. The Bollywood star will also be revealing the latest models in the Longines DolceVita Collection.

Antiquorum to auction Maurice Lacroix Wallpaper Design Timepieces for charity

Antiquorum has announced the sale of three unique Maurice Lacroix Wallpaper Design timepieces. For this year's joint project Maurice Lacroix and Wallpaper sought uncompromising designers who are true to their beliefs and whose work reflects their own styles. The result is an impressive trio, consisting of Spanish designer Patricia Urquiola, Italian architect Rodolfo Dordoni and Belgian designer Kris Van Assche. This exclusive auction will take place online, via Antiquorum's online bidding platform, from June 1st to June 22nd. Proceeds of the auction will be donated for charity.

Breitling Sion Airshow: The Rafale as a Star

It is one of the three combat aircraft in competition to replace the Northrop F-5 Tiger of the Swiss Army: the Rafale, latest of factories Dassault, will perform during the Breitling Sion Airshow from September 16^th to 18^th 2011. The French fighter-bomber, the high-powered twin-jet, will be one of the main stars of this event. A world of difference with his grandfather the Bleriot XI among whom the engine and the frangibility allow flights only if the wind blow less than 18 km hours! In competition with the Eurofighter and the Saab JAS Gripen to replace the Tigers, the Rafale will make a demonstration of its incredible capacities in the Wallis sky.

Daisy Lowe as the new face of Stephen Webster's advertising campaign

In a match made in rock n’ roll heaven, Stephen Webster is thrilled to unveil stunning Brit model Daisy Lowe as the new face of his latest advertising campaign. Shot by artist and photographer Mat Collishaw, the autumn 2011 campaign will feature pieces from Webster’s fine jewellery collection ‘Murder She Wrote’, as well as the silver collections ‘Superstud’ and ‘Les Dents de la Mer’.  Spellbinding in Webster’s cutting edge, iconic designs, Daisy takes on the role of a beautiful femme fatale – exotic, dark, deadly – reflecting the essence of the new collection, ‘Murder She Wrote’.

Tibaldi for Bentley wins Most Exciting Motorsport Pen

Montegrappa is proudly announced that the Tibaldi for Bentley Mulsanne is winner of The Most Exciting Motorsport Pen in Pen World’s Seventeenth Annual Readers’ Choice Awards. Featured in the April 2010 issue of Pen World, the Mulsanne was chosen by PW's readers as a pen inspired by roaring engines. The Readers’ Choice Awards was presented in New York City during the National Stationery Show, May 15-18 2011. Fashioned from precious metals, including versions in sterling silver and 18K rose gold, the Tibaldi for Bentley Mulsanne is unmistakably an adjunct to a car handcrafted from the finest materials.

Product Launch

Breguet introduces Classique 5177 Wristwatch in Red Gold Version

Formerly existing only in 18-carat yellow and white gold, 5177 watch is now being introduced in a red gold version. Newly clad in this warm-toned precious substance, it naturally preserves all of the sophisticated elements expected in a timepiece from the Breguet Classique collection: a fluted case middle with a transparent back; soldered strap lugs; a silvered solid-gold dial that is available with hand-engraved guilloche in a cross weave motif or in grand feu enamel; and blued steel Breguet hands decorated with the characteristic “eccentric moon tip.”

Chopard and Zanotti create the world’s most precious shoes

Official partner of the Cannes International Film Festival, Chopard has also entered collaboration this year with Italian shoe designer Guiseppe Zanotti. Together they have created an entirely original jewellery set composed of a pair of Jewel Encrusted Stilettos complete with matching Haute Joaillerie earrings. On May 19^th, the world’s most precious shoes have been seen on the feet of the spectacular fashion model Anja Rubik on the red carpet of the traditional Cinema Against AIDS dinner on behalf of amfAR. They have then been auctioned and reached the price of 140’000 euros.

Frederique Constant presents the new Junior Ladies Collection

After the confounding success of the Frederique Constant Junior Collection launched in 2010 and designed for boys, Frederique Constant has now developed the new Junior Ladies Collection, dedicated to young girls, and aged 12 to 16. With a delicately polished steel case of 26mm diameter, all models are fitted with a quartz movement and equipped with a choice of three sophisticated and finely detailed dials. Further, in support of the introduction of the Frederique Constant Junior Ladies range, the brand will launch a dedicated advertising campaign featuring the talented Alessia Lenders.

La Montre Hermes launches the new Arceau Chrono Colors

Ever since its creation in 1978, the iconic Hermes Arceau watch has been constantly renewed, while remaining loyal to its original spirit. This year, Hermes launched the new Arceau Chrono Colors in white and navy blue versions feature matching dials and straps that extend and enrich the collection. On both these models, the saddle stitching and soft, smooth feel of the Evercalf indigo blue and Epsom white calfskin straps testify to the House tradition of excellence in leather craftsmanship. The three counters and date are harmoniously arranged on the dial framed by a 43 mm-diameter steel case.

Baptiste Giabiconi for Richard Mille

At the age of 21 years old, Baptiste Giabiconi is the new number 1 male Top Model in the world. In three years, Baptiste, a Corsican by birth now living in Marseille, and egery of Karl Lagerfeld since 2008, has been seen on the covers of the biggest fashion magazines. His perfect physical appearance, his unique style mix of rock and glamour and also an extremely charming personality, appealed to Richard Mille. Baptiste has a real interest in Richard Mille watches and has chosen to wear two models from the collection: the pocket watch RM 020 and RM 016 Titalyt.

Citizen introduces the Caliber H145

Building on the tremendous success of the world’s most advanced radio-controlled watch, Citizen has introduced the Caliber H145, a radio-controlled masterpiece. Powered by Citizen’s revolutionary Eco-Drive technology, the watch combines the unmatched accuracy of radio-controlled time-keeping and exceptional elegance in styling. The Caliber H145 has World Time as an additional feature and comes in two styles - dress and sports. The dress line combines simple, elegant styling with advanced functionality, while the sports line, with subtle use of black and silver on dial and bezel, projects an air of intelligence as well as energy.

Zenith launches iPhone Application

While the moments of ZENITH timepieces represent the culmination of a century and a half of mechanical know-how, the Manufacture in Le Locle is keenly aware that encountering devotees of fine watchmaking now also involves a presence in digital space. In order to establish an ever closer relationship with its clients, ZENITH has just launched an on-line version of its optimized website for all smartphones, as well as a dedicated iPhone app. This new site, available in a choice of French or English, naturally comprises all the classic functions one would expect.

HYSEK unveils its dynamic new IO Jumping Hour watch collection

HYSEK has unveiled its much-awaited dynamic new IO Jumping Hour watch collection, launched at Baselworld 2011 recently. It has a powerful 14mm thick, 47mm wide steel case with gently curved sides on the lugs, a double polished bezel, water resistance of 50 meters and a sapphire center with an AM/PM indicator. This aesthetically perfect timepiece houses the Swiss automatic movement exclusive to HYSEK, the Hysek HW 55 module which offers jumping hours, and slowly moving minutes on a disc that moves across a tapering   window.

VOGARD offers the new Datezoner, 3 watches in 1

VOGARD has reached its 3rd milestone with the DATEZONER, a watch that sets a new benchmark for world timers by combining date, time zone and time keeping functions. The date is set via the bezel and is synchronized with every city on the bezel. Eventually, it always displays the right date even when you turn the bezel over the dateline, clockwise AND counter clockwise. The patented DATEZONER is available in various versions. The top of the range comes with case made of Titaniumcarbide (TiC) and an 18kt gold bezel. The dial design was inspired by the speedometer and rev counter layout that traditionally dominates a sports car dashboard.

Exhibitions & Events

Exclusive preview of the new Bulgari Mediterranean Eden Jewellery Collections

Bulgari will conduct an exclusive press preview of the new Bulgari Mediterranean Eden Jewellery Collections to be held on Monday May 30, 2011 at 10.30am at Bulgari, The Dubai Mall.

Louis Vuitton presentation of the Autumn Winter 2011-2012

On 6 June 2011, Louis Vuitton will present its Autumn Winter 2011-2012 men’s and women’s ready-to-wear, accessories and leather goods collections at the Conference Suites, The Westin Mina Sayahi, opposite Media City in Dubai.

TIMEX Group with Paris Gallery to reveal the 2011 watch collections

TIMEX Group, Swiss Luxury Division along with Paris Gallery will reveal the 2011 watch collections of Salvotore Ferregamo, Valentino and Versace on Tuesday, 31^st May 2011 at Burj Khalifa, 1 Emaar Boulevard, Dubai.

Holts Academy of Jewellery sponsor Hatton Garden

Holts Academy of Jewellery is extending its continuous support to the jewellery industry as an organiser of the Hatton garden Festival, the cornerstone of London Jewellery Week to be held on June 10 to 11, 2011. To coincide with the festival, Holts Academy of Jewellery will be celebrating the launch of their new workshops in Hatton Garden and are offering a Silver Jewellery Making taster session where attendees will be taught how to make jewellery in a professional jewellery workshop by professional jewellers.

Celebrity News

Exclusive interview with Paul Belmondo - SAINT HONORE’s Link between Sports & Elegance

Could you tell us about your association with ST.HONORE and why were chosen to be the Brand Ambassador of the noted Swiss Brand?

I have been associated with SAINT HONORE since 2005 so it is quite a long period now. I believe SAINT HONORE like my “double personality” as racing driver and actor. SAINT HONORE had some sporty-elegant watches to promote back then and it was a good fit because I really love watches. On the other hand, Thierry Fresard and Olivier Birault from SAINT HONORE, are fans of motorsport so it was a common choice.

As the face for ST.HONORE, what qualities and characteristics do you bring to the brand and what do your responsibilities entail?

I somehow represent the French Style so important to SAINT HONORE, and also the link between sport and elegance. I have been assisting SAINT HONORE in many high profile events like boutique openings, press conferences, Baselworld… and even participating in the conception of some watches like the Black Racing series that we started in 2006. I am also using my network to introduce the brand to some “stars”.

What do you find most attractive about SAINT HONORE?

SAINT HONORE is well suited to my tastes. Watches with character, contemporary but also understated. I like their designs combining Paris Style with Swiss Made quality. I also really like their Limited Editions (Black Racing, Haussman Regatta, 125^th Anniversary) and the innovative use of specific colors like bronze or rose gold.

SAINT HONORE has created a special watch “Orsay Black Racing” limited edition in honor of the relation what characteristics does this watch hold?

In 2006, SAINT HONORE asked me what would be my “dream watch” and so we came up with this idea of the Orsay Black Racing. The spirit also came from the famous Le Mans 24 Hours race and highlighted the blue and orange colors of my race team. It was a Limited Edition of course and in order to be wearable every day, on top of the racing black and blue strap we added an extra strap croco style strap. My teammates and I raced with it at the Le Mans 24 Hours in 2006. So we can say that this watch has done the most extreme race in the world. This particular piece is now in SAINT HONORE Paris boutique. At that time, the black case was not very common and it was a real novelty. Since then, 4 Black Racing series have been launched and I am always happy to participate in their conception and also to help SAINT HONORE find new drivers to wear it.

The “Oraay Black Racing” is available in the Middle East, have you ever been to that part of the world that holds now two Formula 1 racing circuits and organizes several international racing events?

That’s right that 2 world class circuits are now in this part of the world with Abu Dhabi and Bahrain, not to mention Doha and Dubai. Unfortunately I haven’t had the chance to come to the Middle East yet but I hope that it will be the case very soon. I know that SAINT HONORE has some interesting boutique projects in the region…

As a successful former French racing driver who raced in Formula1 how important is it to wear a professional chronograph around your wrist?

I consider a watch as the only jewel for men and I have always been fan of nice watches, I even have a small collection, so I would say it is more a pleasure than a necessity. But professional drivers like to have the best on their wrists so having a professional, reliable and efficient chronograph is really a must-have.

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