The Highly Anticipated Dubai Watch Week Returns for a Second Edition this November; Swiss watch exports dropped by 16.1% in March; Louis Vuitton sues fried chicken restaurant in South Korea

Market News

The Highly Anticipated Dubai Watch Week Returns for a Second Edition this November

Dubai Watch Week, returns for a second time under the Patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Vice Chairman of Dubai Culture & Arts Authority. The organizer, Ahmed Seddiqi & Sons, has announced the dates for the second edition that is set to take place from 15th to the 19th November 2016. “Education is a key area of focus at Ahmed Seddiqi & Sons, as it has been our mission for more than 60 years to increase the understanding of and passion for watchmaking in the Middle East. Dubai Watch Week has education at the heart of its annual platform, through workshops, discussions, and mentorship opportunities that engage both existing and emerging members of the watch community in topics of both historical and contemporary significance to the industry,” said Abdul Hamied Seddiqi, Vice chairman at Ahmed Seddiqi & Sons.

Swiss watch exports dropped by 16.1% in March

The decline in Swiss watch exports accelerated in March had their lowest figures since 2011 in what it characterizes as a “steep decline.” Exports, which total $1.54 billion dollars, were down 16.1 percent year over year according to the recent report of the Federation of the Swiss Watch Industry.

The main markets were nearly all down: Hong Kong was down 37.7 percent; the United States was down 32.9 percent; China was down 13.7 percent; Japan was down 9.4 percent; and Italy was down 3.2 percent; UAE was down 2.7%; Saudi Arabia was down 15.7%, Kuwait was down 15.5%; and Germany was the only main market with growth; it was up 2.2 percent.

Company News

Louis Vuitton sues fried chicken restaurant in South Korea

A South Korean court has ordered a fried chicken restaurant owner to pay 14.5 million won ($12,500) for refusing to comply with a ban on using the luxury Louis Vuitton brand name for his outlet.

The owner, identified only by his surname Kim, had called his restaurant in Seoul, "LOUIS VUITON DAK" - a play on the word "tongdak" which means whole chicken in Korean. He also ran up a logo very similar to that of the French fashion house and had it printed on his napkins and fried chicken take-out cartons.

None too pleased with Mr. Kim's ingenuity, Louis Vuitton filed a suit in September last year, saying the use of the company's name to sell fried chicken was damaging to the brand. Louis Vuitton complained again and the court ordered Kim to pay the fashion house 14.5 million won for the 29 days that the amended name was displayed.

Chopard enters its third season as official timing partner of Porsche Motorsport

Chopard started its third year as the official timing partner of the leading WEC team: Porsche Motorsport. At the Six Hours of Silverstone 2016, the season’s opening round, the two new Porsche 919 Hybrid cars led by Chopard’s ambassadors, Mark Webber, Brendon Hartley and Romain Dumas campaigned again for victory on the renowned circuit of the British Midlands after a very successful year 2015. The Porsche 919 Hybrid led by Romain Dumas reached the second position in the LMP1 race but finally got the victory.

IWC Schaffhausen celebrates its tenth special edition with Laureus

IWC Schaffhausen presents the Portofino Automatic Moon Phase 37 Edition “Laureus Sport for Good Foundation” in celebration of the Laureus World Sports Awards ceremony in Berlin. The timepiece, limited to 1,500 watches, marks the tenth special edition launched by the Schaffhausen as part of its commitment to Laureus Sport for Good. The winning design from last year’s IWC children’s drawing competition is engraved on the case back. This special engraving is a reminder that a portion of the proceeds from sales goes to Laureus to help support its social projects.

Apple Watch Hermès collection is available in Apple Store Mall of Emirates

The Apple Watch Hermès collection which was launched in October 2015, is now officially available at the Apple Store in Mall of the Emirates. The three styles introduced last autumn: Single Tour, Double Tour and Cuff will continue and complete systems (case and band) will be offered in Fauve Barenia only. Existing colours of bands, including Fauve, Noir, Capucine and Etain will now be sold, for the first time, separately and will be joined by a whole new collection of Single Tour and Double Tour bands, which will be offered in Hermès colours including Bleu Paon (Green), Bleu Saphir, Blanc (White) and the iconic Hermes colour, Feu (Orange).

Swarovski lights up Dubai’s Art

Swarovski presents Dubai-based Iranian artist Salmeh Moravvej, Co-Owner at MSS Art, and her unique paintings, as part of the ‘Ingredient branding’ program. The Salmeh and Sarah Moravvej create custom-made designs inspired by found photographs or images online which they then paint on to canvases of various shapes and dimensions. The images are then carefully studded with a selection of Swarovski crystals and pearls.

Product Launch

A. Lange & Söhne partnership in cultural diversity

SKD director Hartwig Fischer and Lange CEO Wilhelm Schmid announced the continuation of their partnership, at the annual press conference of the Staatliche Kunstsammlungen Dresden in Dresden, The cultural partnership between the traditional watchmaker and the world-famous museum association experienced another highlight last year in the form of the special exhibition “Simple and perfect – Saxony’s path into the world of international watchmaking”.

Louis Moinet presents Black Gold Derrick

Louis Moinet’s spectacular new-look Derrick revolutionises the piece with a skeleton movement, haute horlogerie finishings, a three-day power reserve, and an all-new second’s display. A drive shaft sits on the right of the dial, between 2 and 4 o’clock. At its left-hand end is the oblong-shaped ‘head’, the most striking visual characteristic of a derrick. The time is displayed by two central rhodium-plated hands, regulated by a tourbillon escapement at 6 o’clock. The assembly is housed in a new white gold case by Louis Moinet, dubbed NEO.

Exhibitions & Events

Van Cleef & Arpels inaugurates The Art & Science of Gems exhibition

The exhibition explores the interrelationship between the science of mineralogy and the art of the finest jewelry and gems. Over 450 pieces of jewelry selected from Van Cleef & Arpels’ Collection are displayed and those of private collectors. Cate Blanchett, a Friend of the Maison, was among the attendees of this Official Opening. Her selection included pieces from the new Bouton d’or collection: necklace, bracelet and ring, set in yellow gold, chrysoprase, onyx and diamonds.

Be constantly updated on the latest Watch & Jewellery Business markets of the Middle East, as well as information on competitors, promotions, product trends, industry analyses, appointments, new product introductions & developments and market research.

Our weekly 'Arabian Watches & Jewellery Business Newsletter Broadcast' is distributed to over 22,000+ industry executives, Watch & Jewellery manufacturers and distributors, retailers, investors and media consultants globally.

Unsubscribe / Submission of News / Open Forum / Obtaining our news distribution / Confidentiality Important Copyright Notice / Disclaimer

Developed by We Do Web