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UAE as preferred investment destination by GCC millionaires; Swatch Group releases Annual Report for 2013; Officine Panerai opens its first boutique in Kuwait
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Interviews
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Interview with Carole Forestier - Kasapi Cartier’s head of movement creation
fiogf49gjkf0d 1) Please brief us about your profession, education and life?
I was born into a family of watchmakers in Paris: my father, my mother, and my brother are watchmakers. I spent a lot of time after school in the family workshop; this is how I became interested in watch mechanics. This has become a passion that has never left me. I started to disassemble old mechanisms at the age of 10 to understand how they worked. I was especially interested in understanding how each different function works. I became more and more passionate about movements. I remember when I was 15 years old, and all my friends were fans of Michael Jackson, I was a fan of Breguet, Lepine, and other great watchmakers.
When I decided to start watchmaking studies, my parents sent me to Switzerland.
2) Kindly share with us your role in the growth of Cartier as a company?
I’m in charge of movement creation, and I work with a team of 35 people to develop all the movements for Cartier, since the first creative idea until the homologation.
3) Please share some of your major achievements? And what are your ambitions to achieve more?
It is first of all a difficult choice, because behind each watch lies the history related to its development. The development of a movement takes between 3 and 5 years, during this time a lot of things happen, meetings, periods of doubt, victories, moments of satisfaction; so finally my choice is not only factual but also much related to the emotion that is released from the memory of each project.
• The Astrotourbillon has the huge ability to bring everyone together, firstly because this creation is the emblematic complication of watchmakers: the tourbillon. The tourbillon turning around its central axisis extremely spectacular, that will bring together a non-connoisseur public; and on the other hand, the connoisseurs will enjoy the technical challenge that lies behind the spectacular complication. There is also a fundamental element in this piece which is the first industrialization in the series of technology issued from our concept watch ID ONE, a development in collaboration between the R&D and the movement development department. The brief received for the Astrotourbillon project was originally: "Carole reinvents the tourbillon”.
• The Astroregulateur,
Since the invention of the tourbillon, the Astroregulateuris an alternative solution of the tourbillon to compensate the problem of gravity in watchmaking. The great pleasure of its development lies in the fact that we could start from scratch and thus deliver the principal fundamentals of Chronometry in order to invent new solutions. The adventure reached highs and lows, with doubts and victories thanks to the fact that we invented a whole new complication, we wrote the history of watchmaking, we discovered, and didn’t rely on any history of art concerning this subject, in short; an exciting project from beginning to end.
• The Rotonde Double mysterious Tourbillon. It is a piece that perfectly conveys the adjectives innovation, creativity, boldness and know-how, withPoinçon de Genève certification. A must-see Cartier style exercise: develop a mysterious movement based on the mysterious system applied to our clocks for over 100 years. The difficulty was to find new solutions to ensure the same durability like a classical watch despite using sapphire disks for the mysterious display whilst retaining the elegance of a flat watch.
4) What are the challenges for women in this industry?
Watchmaking is a world where you have to prove your ability, like so many others. As a woman you have to prove your skills even more. This is a subject for which I have always ignored, and tell myself that my creations are primarily made by the soul of a watchmaker before the soul of a woman.
5) Tell us about your bond with the brand Cartier?
I am totally immersed; I assumethatI am in charge of writing a page in the history book of the Maison. In order to write this page, I have to know perfectly the beginning of the story.
6) What is the first piece that you owned from your brand/s?
It was a Tank Française automatic
7) What is your favorite piece from your brand/s and why?
The Baignoire for its timelessness, femininityand elegance
8) What are your hobbies?
Spent time with children (I have a boy 12 years old and a daughter 8 years old)
I read a lot about watchmaking (old books essentially)
I have a job that requires a lot of investment in terms of time
9) How do you split your time between work & leisure/family?
I" outsource" all the housework in order to focus my free time with my family.
10) Where do you see Cartier’s Movement developments in 2014 and beyond?
We have a movements development plandefined5 years in advance;
We are going to keep up a catalog of complications and to be ever more creative.
I print a dynamic to be trendsetter.
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Market News
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UAE as preferred investment destination by GCC millionaires
fiogf49gjkf0d The UAE has emerged as the most preferred investment destination by a majority of the region’s millionaires, beating other high-growth markets, new research reveals. In a study commissioned by Emirates Investment Bank (EIB), nearly a third of the global investors voted the UAE as the number one place to invest in. China came second on the list, with 21 per cent of the votes, followed by Europe, US and India. The survey results were published in EIB’s Wealth Insight Report 2014. The survey, which was conducted between November 2013 and January 2014, gathered the views of HNWIs (high net-worth individuals) with $2 million (Dh7.3 million) or more in investable assets from the UAE, Qatar, Kuwait, Saudi Arabia, Oman and Bahrain.
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Swatch Group releases Annual Report for 2013
fiogf49gjkf0d In the 2013 Annual Report for Swatch Group Dr. Nayla Hayek, Chairman of the Swatch Group board of directors stated, “In 2013, Swatch Group recorded 8.3% growth and achieved gross sales of 8.817 billion Swiss francs, despite the extremely unfavorable exchange rates. In the second half of the year, gross sales were negatively affected by more than 100 million. In 2013, operating profit grew by 17.0% to reach 2.314 billion, corresponding to an operating margin of 27.4% and net income was 1.928 billion, which corresponds to a 22.8% net margin. By the end of December 2013, equity reached a new high of 9.574 billion Swiss francs, which equates to an equity ratio of 82.3%”. Ms. Hayek added “On the strength of the good results achieved in 2013 and the positive outlook for 2014, the Board of Directors of Swatch Group proposes the following dividend for 2013 to the Annual General Meeting on 14 May 2014: CHF 7.50 per bearer share and CHF 1.50 per registered share”.
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Officine Panerai opens its first boutique in Kuwait
Officine Panerai inaugurates its first boutique in Kuwait in the presence of Mr. Angelo Bonati, CEO of Officine Panerai and Mr. Ali Behbehani, President of Behbehani Group. The event was held at the Panerai Boutique located in the luxurious Al Hamra Mall, located in Sharq, the home of many of Kuwaiti’s economic leaders and one of the most significant neighborhoods of the Kuwaiti capital.
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Company News
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Chopard the Official Timing Partner of Porsche Motorsport
Chopard is the Official Timing Partner of Porsche Motorsport. This prestigious partnership is an extension of Chopard’s longstanding commitment to automotive sports. The Geneva watchmaker will thus accompany the long-awaited return of Porsche Motorsport at the LMP1 Endurance Championship, with the “24 Heures du Mans” endurance race as the highlight on June 14th and 15th.
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Carl F. Bucherer and zai AG announces their strategic partnership
fiogf49gjkf0d Carl F. Bucherer and zai AG announced a strategic partnership with the aim of promoting the two brands’ shared values of quality, craftsmanship and innovation. The cooperation, which will see zai’s handcrafted ski and golf products showcased in selected Bucherer stores, is to be inaugurated with the global launch of the new zai senda golf putter at the Carl F. Bucherer stand at Baselworld 2014 later this month. The inspiration for the partnership came after a meeting on the ski slope between zai CEO Benedikt Germanier and Carl F. Bucherer CEO Sascha Moeri.
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Maurice Lacroix announces its partnership with FC Barcelona
fiogf49gjkf0d Maurice Lacroix announced a three-year partnership agreement with FC Barcelona – quite simply the world’s most prestigious football club with a global fan base of over 300 million people and 100 million social media followers. Becoming the “FC Barcelona Official Watch Partner” Maurice Lacroix and FC Barcelona will join in facilitating access to the football fans.
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Montegrappa presents the Dream Life of the Rockstar
fiogf49gjkf0d Montegrappa announces the next generation of the Aquila family has entered the world of fashion and style. Diana Aquila, daughter of CEO Giuseppe Aquila, recently served as the stylist on a photo session that featured Montegrappa creations, perfectly suited to the theme of the shoot: the dream life of the rockstar! Among the Montegrappa accessories chosen to reinforce an edgy, moody stance were the Chaos pen and watch, designed by Sylvester Stallone and rich with the Gothic details that inform the language of hard rock. Diana worked with the model Dustin Phil from the Fashion Milano agency, the shoot taking place at the Belloni showroom in Como.
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Watches&Wonders 2014 exhibition to become an annual event
The First Asia Haute Horlogerie Exhibition returns to Hong Kong during this autumn’s Golden Week to gather for Watches&Wonders 2014, from 29 September to 2 October 2014. The event, to be held at the Hong Kong Convention and Exhibition Centre. The 2014 event will also broaden the space for exchange and enjoyment, and provide once again didactic workshops, a historical exhibit tracing the story of time from its origins in astrology to today’s precision instruments, plus numerous opportunities for meaningful encounters.
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Christie's Dubai watch auctions exceed upper limit and total $ 3 million
fiogf49gjkf0d Dubai Important Watch auction last week bidding, at Christie’s was fast and furious with collectors from around the region gathering to compete for the 123 lots which sold collectively for $3 million(Dh11.37 million), above the high estimate of $2.9 million. The watches followed last weeks stellar sale of modern and contemporary art which realized $10.6 million, making a combined total of $13,745,563 for the sales this spring. Christie’s 16th consecutive sale season in the Middle East, was the first to be held to coincide with Dubai Art Week with 20% of those registered to bid in the sales new to Christie’s.
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Product Launch
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Arnold & Son unveils Instrument Collection - DSTB (Dial Side True Beat)
Arnold & Son reveals the limited edition DSTB (Dial Side True Beat). A tribute to the brand’s 250th anniversary. The movement features Haute Horlogerie finishing with hand-chamfered and satin-finished lever and bridges, polished edges and fine circular graining and Côtes de Genève rayonnantes. The visible dial plate is NAC grey treated with large circular finishing, and blued screws with bevelled and mirror-polished heads. The Strap is made by hand-stitched brown or black alligator leather. The DSTB timepiece is in red gold case with anti-reflective sapphire crystal. The 250th anniversary edition of the DSTB will be limited to just 50 timepieces.
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Mouawad launches La Classique collection
fiogf49gjkf0d Mouawad introduces two watch collections carrying its distinct Mouawad Geneve signature, La Griffe for women and Grande Ellipse for men. Crafted from rose gold and steel, the four versions of La Classique - two for men and two for women are available in an array of variations. For her, the choice lies between the La Classique Lady brimming with graceful beauty or the La Classique Lady Attitude whose innate glamour is destined to place its wearer in the spotlight. For men, the La Classique Gent is a refined day-to-day watch, while the La Classique Gent GMT appeals to cosmopolitan globetrotters with its second time zone.
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Exhibitions & Events
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Van Cleef & Arpels exhibition opens at Design Days Dubai
fiogf49gjkf0d Van Cleef & Arpels opened the In Praise of Hands exhibition at Design Days Dubai which was from March 17th to 21st. An ardent defender of the arts and creativity, the Maison is the sponsor and partner of this unique design fair in the Middle East for the third consecutive year. With this exhibition inspired from In Praise of Hands, the book by Franco Cologni, Van Cleef & Arpels celebrates the art of High Jewelry, paying homage to the expert hands of its master craftsmen: the Mains d’Or™.
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DMCC and Gem & Jewellery Export Promotion Council India inaugurates Dubai Global Gem & Jewellery Fair
fiogf49gjkf0d DMCC, Dubai’s and the region’s global gateway for commodity trade and enterprise, and the Gem & Jewellery Export Promotion Council (GJEPC) India, has officially opened the Global Gem & Jewellery Fair (GGJF) hosted in Dubai for the first time on March 20, 2014 at Atlantis, The Palm. The event has three sections devoted to Gold Jewellery, Studded Jewellery, and Diamonds & Gemstones and displays exclusive and stunning creations from 130 exhibitors. The event was inaugurated by Ahmed Bin Sulayem, Executive Chairman, DMCC accompanied by Mr. Vipul Shah, Chairman, The Gem & Jewellery Export Promotion Council of India, H.E. T. P Seetharam, and India Ambassador to UAE at the Ribbon Cutting ceremony of Global Gem & Jewellery Fair.
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Celebrity News
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Uma Thurman wears Chopard to the New York premiere of Nymphomaniac
fiogf49gjkf0d Uma Thurman wore Chopard jewellery - a pair of yellow gold earrings set with brilliants and a white gold long necklace set with fancy-cut diamonds.
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Cheryl Boone Isaacs wears Mauboussin at the Oscars
fiogf49gjkf0d President of the Academy Awards Cheryl Boone Isaacs wore Mauboussin's “Je le Veux" diamond bracelet and "Gueule d'Amour" ring at the Oscar’s ceremony red carpet and stage.
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