Market Report

Ahmed Seddiqi & Sons launches its new concept Store: 1915 by Seddiqi

The 1915 by Seddiqi was developed by Ahmed Seddiqi & Sons to reach a wider audience and thus tap into a wider market segment. 1915 by Seddiqi is a flagship concept destination for fashion watches and accessories in the Middle East. 1915 by Seddiqi was created specifically to offer diverse watch and accessory options, excellent retail experience, high-quality customer service, and affordable prices. Offering 13 leading fashion brands that are updated by season and reflect the dynamic and diverse tastes of its customers, the first retail outlet was launched in February 2012. Leading fashion watch and accessories brands available currently include Emporio Armani, Baume et Mercier, Charles Jourdan, Gc, Guess, Issey Miyake, Momo Design, Frederique Constant, Movado, Mutewatch, Tag Heuer and West End.

Market News

Tiffany & Co. signs joint venture with Damas Jewellery

Today, 14^th of May 2012, Tiffany & Co. has announced it has signed a joint venture agreement with Damas Jewellery, a company incorporated under the laws of Dubai, relating to the operation of its U.A.E boutiques. The partnership will see the transfer of operational, merchandising and sales & marketing management for the TIFFANY & CO. brand in the U.A.E. from Damas Jewellery to Tiffany. Until now, Tiffany has sold merchandise, on a wholesale basis, to Damas which operated the TIFFANY & CO. stores. Under the joint venture, the new entity will be incorporated in the U.A.E as TCO Damas Associates L.L.C. Tiffany also announced the appointment of Stephane de Palmas as General Manager of the new U.A.E. retail operation. Mr. de Palmas, 46, will be responsible for the overall management of the TIFFANY & CO. stores in Dubai and Abu Dhabi.

Rising oil prices to boost GCC economies

According to a recent report, the economic prospects for oil-exporting economies in the Gulf Cooperation Council (GCC) looks well positioned over the next few years than in the initial phase of the global financial crisis in 2008-2009. This is mainly because the geographic distribution of growth between developed and emerging markets for the next three to five years should keep oil prices firmly on an upward trajectory. World demand for oil tends to rise at about one-half the rate of global GDP growth. The oil demand is rising by about 1.75 percent a year over the next decade. This is mainly because improvements in energy efficiency in developed markets tend to be partly offset by the increasing number of vehicles in fast-growing emerging markets such as India and China.

Saudi Arabia to see SR 317.4 billion surplus this year

A recent report said that the increase in oil revenues will fuel another year of twin surpluses, with the fiscal and current account balances expected to register 14.3 percent and 31.3 percent to GDP, respectively. The Kingdom's real GDP growth is expected to rise by 3.9 percent, largely driven by the vibrant nonoil sector and partially due to the increase in oil production. With Saudi crude oil prices expected to average around $ 105/bbl this year, it said the fiscal account will be in surplus at 14.3 percent of GDP, a substantial SR 317.4 billion. The report added that growth in nonoil sectors, particularly construction, manufacturing and wholesale and retail trade, will also remain robust this year, mainly due to strong private and public investment and consumption spending.

Company News

Hermes inaugurates its new store in Abu Dhabi

On 2^nd May 2012, Hermes celebrated the opening of their third store in the United Arab Emirates in partnership with the Al Mana family. The new Hermes store in Abu Dhabi is located on the second floor of Etihad Towers in the Al Ras Al Akdar beachside district. RDAI, the French agency responsible for the architecture of all Hermes stores worldwide since 1978, has overseen all the work necessary to capture the spirit of the Parisian House, in the 295 m2 store. The champagne claustra facade invites visitors into the luminous intimate space, accessible via two separate, side-by-side entrances, flanked by tall vitrines. The louvres that make up the facade are intermittently interrupted, allowing light, and glimpses of the interior, to filter through. These horizontal lines are remi­niscent of those of Hermes Dubai and Kuwait stores, and are carried into this store’s interior, through the cut outs and openwork that create its volumes.

Official Olympic Games Timekeeper unveils plans for OMEGA House

OMEGA, the Official Timekeeper of the London 2012 Olympic Games, has recently unveiled the plans for an exclusive club that will be opened on a membership and by-invitation basis during the Olympic Games. The doors will open on the 28^th of July and will host events and provide visitors with an oasis of calm in the heart of London’s Soho district through the 12^th of August. The stunning Georgian townhouse is located at 1 Greek Street across from Soho Square. Along with OMEGA’s invited guests, it will welcome a who's who of Londoners and visitors to the Games. The Omega House will also accommodate a number of VIP events and OMEGA ambassador visits throughout the Games. OMEGA has announced that some of its brand ambassadors including Nicole Kidman and famous golf legend Greg Norman are among the celebrities who will participate in events there.

Chopard sponsors the 22nd Annual California Mille Race

After celebrating its 23^rd anniversary of partnership with the Mille Miglia race in Italy in 2011, Chopard was proud to be a Presenting Sponsor of the 22nd Annual California Mille. Drawing upon the original Italian race from Brescia to Rome and back, the California Mille is a 1,000 mile, four day excursion through the picturesque back roads and historical highways of Northern California and Nevada featuring some 65 historic racecars. Passionate about vintage cars, Karl-Friedrich Scheufele, Co-President of Chopard, has been playing an active part in the Mille Miglia since 1988, when Chopard supported this event for the first time. Chopard and Classic Car Racing have thus become synonymous, giving rise to a collection of Mille Miglia watches which represent elegance and high performance needed in both the watch and classic car race industries.

Jaeger-LeCoultre the Official Timekeeper of the Diamond Jubilee Pageant

Jaeger-LeCoultre is honored to celebrate Her Majesty Queen Elizabeth II’s Sixty Years on the Throne as the Official Timekeeper of the Diamond Jubilee Pageant, a major event taking place in the private grounds of Windsor Castle in the presence of Her Majesty on 10-13th May, 2012. To mark this momentous occasion, Jaeger-LeCoultre has created a special limited engraved design of its iconic Reverso watch. Personalized with the logo of the Diamond Jubilee Pageant and a commemorative message, the Grande Reverso Ultra Thin will be issued in a limited edition of 6 pieces in men’s and ladies’ version.

Vacheron Constantin presents THE HOUR CLUB

THE HOUR CLUB gives its members access to personalised services, special events, and unites owners of Vacheron Constantin timepieces around their shared passion for technical and aesthetic haute horlogerie. The Hour Club is reserved only for owners of a Vacheron Constantin timepiece, who can sign up by visiting the dedicated website: www.thehourclub.com. Through THE HOUR CLUB, Vacheron Constantin offers owners of a Vacheron Constantin timepiece a range of exclusive encounters, dedicated to exceptional haute horlogerie. For over 250 years the most prestigious collectors have had their names inscribed in our archives…join them by becoming members of THE HOUR CLUB, the collectors community of the oldest watch manufacturer enjoying uninterrupted production since its founding.

Breitling set to fly with the FAI

On 10^th of May 2012, Breitling has signed a long-term partnership agreement with the International Air Sports Federation (FAI). This is the logical culmination of a long and distinguished history intimately bound up with the conquest of the skies. Founded in 1905, the objective of the International Air Sports Federation (FAI) is to encourage the development of air sports all over the world. Its areas of expertise encompass many activities, including planes, aerobatics, seaplanes, helicopters, hot-air balloons, airships, paragliders, hang-gliders, gliders, parachuting, spaceships, etc. Breitling is privileged to become the first official partner to the FAI on a global scale. This long-term association impacts a large number of activities managed by the FAI, as well as certain special events organized with the brand. Breitling has also been named the official watch of the International Air Sports Federation: a well-deserved honor for the “official supplier to world aviation”.

IWC team up with MERCEDES AMG PETRONAS

IWC Schaffhausen is proud to announce a new global partnership with the MERCEDES AMG PETRONAS Formula One Team. IWC embarks on a three-year term as Official Engineering Partner of MERCEDES AMG PETRONAS. The agreement becomes effective in January 2013, two months before the first race of the 2013 Formula One season in Melbourne, Australia. When IWC Schaffhausen and AMG, the performance brand of Mercedes-Benz, signed a long-term partnership agreement in 2004, their cooperation was founded on a shared commitment to pushing back the boundaries of mechanics and high technology. Both companies looked back on a long and fruitful history in precision engineering to the highest degree. Since then, they have consolidated their positions at the top of their respective industries and the partnership is set to move to a new level.

KENZA to unveil its first store in Dubai

KENZA, a one-stop terminus for jewellery, fashion accessories and watches, is gearing up to launch its first store in Dubai on Thursday, 17^th May 2012 at Atlantis, The Palm resort. This is going to be an exclusive showroom for silver jewellery and watches of many coveted brands across the world. The opening ceremony will be inaugurated by Ms. Imane El Khairi and Ms. Cathy Leibman, the directors of KENZA . The operations are guided by LEVANT, a leading Jewellery, fashion accessories and watch company based in Dubai. At KENZA, the influential brands including Edox, Gaga Milano, Hellmuth, Leonard, Pesavento, Raymond Weil, Rebecca, Rebeligion, S.T. Dupont, Seculus, SteelCraft, TechnoMarine, TI Sento, Zancan, and Zoccai come under one roof. They are setting up KENZA as a unique shoppe where people will be served with the highest quality of shopping experience within their means.

Bremont teams up with Norton

To mark the return of Norton Motorcycles, an exclusive partnership has been formed between Norton and Bremont Watches. Bremont is the Official Timing Partner for the ‘Festival of Speed’ The Norton team were looking for a watch brand that shared their passion for engineering and a brand that would be-fit the heritage and history that returns back to the UK with Norton. There will only be only 200 Bremont Norton chronograph mechanical watches made, each watch is hand crafted at the Bremont workshop in Switzerland. Bremont watches are crafted on three principles: Individuality, Precision and Durability.

Product Launch

Hublot presents the Skull Bang

This surprising watch from Hublot is the perfect fusion of a rebel spirit with a deft and daring sense of elegance, never losing sight of the "vanitas", the symbol of the transience of life which remind us how fragile and brief our time is, and that we must live each moment to the full. This is the Skull Bang, a piece made entirely from black ceramic and featuring an attractive stylized skull on its dial. It is already a collector's item, limited to just 100 pieces worldwide, and has been specially developed by Hublot for the brand's friend and long-term partner in Paris, Laurent Picciotto, a man whose flair has made him a legend in the watchmaking world, and one of the first to demonstrate his belief in Hublot by opening the Swiss watch brand's first boutique in the world in 2007 at 271 Rue Saint Honore in Paris' 1st arrondissement, where this limited edition will be exclusively available.

Tag Heuer unveils the official chronographs of the Monaco Grand Prix 2012

TAG Heuer partners with the Monaco Grand Prix and the Automobile Club de Monaco for the same reasons it is ineluctably linked to the other two “Triple Crown” races of motorsports, the Indy 500 and the 24 hours of Le Mans - because of a wealth of shared values and history. The role TAG Heuer plays in the prestige and glamour of Monaco is unparalleled in the Swiss watchmaking world. The 2012 new official watches of the Monaco Grand Prix are: Monaco Calibre 12 Chronograph – ACM limited edition, Monaco Heuer Calibre 11 Chronograph, Monaco Twenty-Four Calibre 36 Chronograph, and Carrera Calibre 16 Chronograph Monaco Grand Prix Limited Edition.

Glam Rock launches the ‘SoBe’ Tech for Father’s Day

A perfect gift for Father’s Day, SoBe-Tech draws style from classic race cars, reinterpreted with 50 mm cases and tachymeter bezel with carbon-fibre details. Dashboard inspired faces with oversized subdials and colored indexes are paired with interchangeable straps in sporty, perforated leather and textured silicones that reminds of tire treads. SoBe-Tech’s patented interchange-ability function comes with the click of a finger and goes beyond the ability to simply change the straps of a watch. Because the cases of SoBe-Tech watches also offer removable case covers, drastic style changes can be made in seconds. Each SoBe-Tech watch begins with 3 stainless steel covers with varying finishes. Additional bezel covers and straps can be purchased separately.

Officine Panerai introduces RADIOMIR CALIFORNIA & RADIOMIR S.L.C.

The Radiomir, one of the icons of international haute horlogerie, lives again in the new Radiomir California 3 Days and the Radiomir S.L.C. 3 Days, two models which represent a tribute to the history of Officine Panerai and to the watch which has constituted a fundamental milestone in the history of professional diver’s watchmaking. The Radiomir California 3 Days has the dial which was almost certainly the first one fitted to the Radiomir case, very original with its alternation of markers, Arabic figures and Roman numerals. The Radiomir S.L.C. 3 Days also has a historic dial of strongly minimalist design, with alternating bar and dot-shaped hour markers. This version was probably created in the late 1930s to experiment with the sandwich construction of the dial, in which two plates are filled with a layer of luminous material – today Super-LumiNova®.

BLANCPAIN presents Villeret Squelett 8 Jours

For centuries, watchmakers have been cutting and engraving movement parts to reveal their heart and endow them with a new aesthetic dimension. In open working or “skeleton-working” these new parts, they choose to highlight their creations and their technical innovations. Blancpain pays tribute to a long line of haute horlogerie adventurers with a unique, highly technical and aesthetically accomplished timepiece.

Alacria Royal Limited Edition by Carl F. Bucherer

The gently curved sides of this regally charming jewelry watch from Carl F. Bucherer are also one of its features. These contours, reminiscent of the female form, appear again on the dial. The Alacria Royal is set with 666 selected precious stones. For the Limited Edition of the Alacria Royal, Carl F. Bucherer’s experienced designers use only exceptional stones of the highest quality. The Alacria Royal is being released in four versions, each in a series limited to 25 pieces worldwide. Carl F. Bucherer has succeeded with this unusual jewelry piece in combining the perfect art of watchmaking with the highest tradition in jewelry culture.

Versace offers the Vanity Watch Collection

Vanity is a brand-new collection for women joins the Versace line of watches. Inspired by the aesthetic heritage of the Maison, its symbolic elements are reinterpreted in an innovative way. Strongly iconic, the most prominent features are the Greek key and studs that make it immediately recognizable. The Greek key stands out on the soleil dial; small studs dot the markers and the profile of the entire bezel; other larger ones with the head of Medusa are applied to the strap. The color range includes white, black, sky blue, pistachio green and purple for the more precious version, with diamonds set on the top ring. In stainless steel or with IP rose gold treatment, the lady size case (35 mm in diameter) contains a Swiss Made quartz movement, and flaunts rectangular loops. The strap is made of crocodile print leather or is a metal bracelet made of geometric links.

RSW presents the "La Neuveville" timepiece

La Neuveville the medieval city of Lake Biel, is celebrating its 700 anniversary in 2012. Located in the watch region par excellence, "La Neuveville" is also the home and DNA of the brand RSW. With his new creation, RSW wanted to mark this important anniversary by giving it its name. “La Neuveville” with its simple and elegant vintage case perfectly illustrates the spirit of this historical town and allows RSW to add his own stone to the mosaic of famous watches in the region. "La Neuveville" is available in two versions: one version with 3 hands and date beating at the rhythm of a quartz movement and an automatic version with 3 hands and date with like the majority of mechanical watches produced by RSW, the now famous patented crank crown clasp.

Faberge launches inaugural collection of silver objects d’art for the home

Faberge extends its craftsmanship and savoir-faire to a striking collection of contemporary silver and enamel tumblers, shot-glasses and candelabra – capturing an essence of Russian joie de vivre. The Constructivist collection comprises of tumblers based on the traditional Russian silver kovsh drinking cup that used to be passed around at gatherings, celebrations and weddings. Each one is a one-of-a-kind design crafted from 250 grams of heavy gauge silver and enamelled in a complex palette of carefully selected colors. Shot-glasses in vibrant jewel colors from exuberant emerald green, purple, ultramarine blue to rust red and smoke grey continue the collection. A candelabra featuring the fluid wrap-around enamelling technique of the tumblers is a masterpiece in its own right.

Richard Mille announces the new RM 016 ‘Black Night’ Limited Edition

Following the very popular RM 010 Black Night, worn by the Richard Mille Polo Team, the RM 016 Black Night features a unique ‘All Black’ DLC treatment of the titanium case thus creating a striking new contrast with the red flange. This limited edition RM 016 comes on a red rubber strap complete with a black DLCtreated buckle yet again confirming Richard Mille’s devotion to the use of innovative materials. The RM 016 entered the Richard Mille collection with a new and distinct identity. Its extra flat, rectangular case marks a new phase in the brand’s history, yet the watch remains one hundred percent Richard Mille, featuring the same attention to detail and technical achievement as its predecessors; the manufacture and assembly of the case’s three sections require 202 separate operations. The new RM 016 Black Night, a limited edition of 10 pieces, will soon be available at all authorized RM retailers in Europe, CIS, Middle East and Africa.

The Armin Racing Regulator by Timo Glock

Timo Glock, ARMIN STROM Brand Ambassador, visited his F1 team sponsor’s watch manufactory in Biel and participated in a production workshop.  Timo learnt about the precision, technology and passion required and the importance of every small detail contributing to the watch’s final success – in fact, many aspects reminded him of Formula 1. On his second visit to Biel some weeks later, Timo Glock was given his chance. Under professional guidance he assembled his own personal ARMIN RACING REGULATOR. The individual bridges of the ARMIN RACING REGULATOR are made from the engine block of his Formula 1 racing car. Timo Glock will wear ARMIN RACING REGULATOR throughout the 2012 FIA Formula One World Championship Season. At the end of the F1 season the unique watch will be put up for auction.

Masriera introduces Cherry Blossom landscape Pendant

Like the vision of Spring awakening throughout a window, this floral landscape is Masriera’s invitation to welcome the season of nature’s revival. Masriera celebrates again the beginning of life’s cycle with this delicate floral pendant. The image of a meadow full of cherry blossoms has been source of inspiration for this romantic and very feminine pendant. Masriera captures the magic of this ephemeral period of nature in this so special piece. Masriera has used in this jewel a very much studied palette of soft fired enamel colours which provide the piece with the elegance and exquisiteness inherent to the Masriera iconographic universe. Typical from Masriera’s hallmark, the jewel has been carefully worked in every detail. It is an 18 carat yellow gold pendant with brilliant cut diamonds and fired enamel.

Celebrity News

Lotte Verbeek shines in Baccarat Jewelry

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