Tiffany & Co. revenue raised by 5.3% to $959M in the third quarter; Swiss watch exports increased by high levels in value and volume in October 2014; Movado sales fall in weak watch market

   
 
 

Interviews

 

Interview with Bell & Ross President Carlos Rosillo

AWJ:  Bell & Ross watches are reputed for their performance, legibility, precision, and reliability.

Carlos Rosillo:  “Yes, from the beginning, what inspired us was the world of aviation and the military environment. Since then, we have evolved, progressed, with sophistication and technique.”

AWJ: You have a very strong identification with aviation and the military…

C R:  “The military often have the highest level of technological sophistication, because a country that wants to protect itself must have the means to do so.  It is thanks to the military that we have internet, GPS, and most civilian aircraft.  So the military world is the highest grade of performance, which is a source of inspiration for many fields, including watches.  The origin of wristwatches dates from World War I, when pilots could not fly and at the same time pull out their pocket watches from their pockets.
These are what inspired our round WWI watches, for Wristwatch I or World War I.  Then, the dashboard inspired us and we transported the cockpit and dashboard onto the wrist, resulting in the creation of the BR 01.

Today, with the new line X1, we go even further with the dashboard that we have sophisticated, and with our military inspiration.  Here, we are talking about what are called “5th generation airplanes” – the F35. 
Our aim was to have a watch that is resistant, light, ergonomic, and functional, with special attention given to the case, the dial, the pushbuttons, and the movement.
The 45mm case is made of Grade 5 titanium, for resistance and lightness, with a band of protective ceramic that surrounds it, and red rubber for extra protection of the movement and for a good grip.   The rocker push-buttons used to activate the chronograph function are also made in high-tech ceramic with rubber inserts to make them solid and easy to grip.
The rare skeleton chronograph movement is inspired by the Bell X-1 plane that Chuck Yeager flew when he broke the sound barrier; we wanted an “X” on the upper bridge.  Instead of hands for the chronograph at 9 o’clock there is a disc that resembles the blades of a turbine, and a small round opening on the back allows us to see the movement. And as the case is modular, we will be able to use it, with its mix of titanium, ceramic, rubber, as a base for future models in the same new line.”

AWJ: Thank you for the personal presentation!  You also have Marine and Vintage collections, in addition to Aviation.  Some are 39mm and are worn by ladies.  Do you foresee a development for ladies lines?

CR: “Nothing prevents us from doing so” (with a mysterious smile).

AWJ:  What is the importance of the Middle East for Bell & Ross?

CR:  “I think what is important is to be present in all markets.  For us, the ME is a market that we have been developing for many years.  Some of that clientele buys in Europe, as well as locally, and some who buy in Dubai are not from the region.  It is important to be present there, to develop it.  The most important thing is to have a good understanding of the brand, and this is what we are working on now.”

AWJ:  Bell & Ross is already well –distributed in the Middle East. What development plans do you have?

CR:  “As a continuation of our development there, we have boutique projects.  We are just about to open a boutique in London; I know there are many people from the Middle East who go to London.”

AWJ:  What are your bestsellers generally and in the region?

CR:  “The square models. Aviation, without a doubt, everywhere.  Middle East tastes are similar to that elsewhere.”

AWJ:  With regards to a collector or an investor, is Bell & Ross a good investment today?

CR: “The models that get the highest prices are from the limited edition series.  The highest ones obtained are those we made in association with the military that had a value of 5 to 10 times more than the initial price.  As an example, we were able to buy the cockpit F84 that we have here in our offices thanks to 3 watches we sold at an auction of aeronautic objects.  It was a model we had made for the French Airforce; they were sold 5 times their initial price.”

AWJ:  How do you see the evolution in general of watchmaking?

CR: “I think you have to have a brand that is clear, that is understood, and that has a direction that is stable.  I think that the more your brand is understood, the stronger a brand you have.
Our category is aviation and military watchmaking, and our specificity is to have captured the spirit of the dashboard.”

AWJ: Do you have a preferred watch? 

CR: “Some are more sporty, some more elegant, I choose according to the event, the time of day…”

AWJ: Who are your customers?

CR: “People who like original products with good design, who are interested in watchmaking technology.”

Our interview ended with an extract from the film “The Right Stuff”, showing the moments when Chuck Yeager breaks the sound barrier for the first time ever.

Carlos Rosillo concludes solemnly:
“Our first BR – X1 is called the Hypersonic Chronograph, named after hypersonic aircraft, going beyond breaking the sound barrier, and into the future.”

End

 
 
 

Market News

 

Swiss watch exports increased by high levels in value and volume in October 2014

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October was a very good month for the Swiss watch industry. Exports attained their highest monthly level with a value of 2.3 billion francs. This represents an increase of 5.2% compared to October 2013. Since the start of the year, the sector has recorded growth of 3.1%, to 18.4 billion francs. The positive trend was supported by gold and bimetallic watches. Steel timepieces also exceeded their 2013 level, albeit at a level below the sector average. Growth was buoyed by the lower and higher price segments. Between the two, the variation was slightly negative. Watches costing less than 200 francs (export price) recorded an increase by volume of 7.0%. Between 200 and 3,000 francs there were downturns in value and volume of 2.6% and 0.9% respectively. Timepieces costing more than 3,000 francs performed very well, with the value of exports rising by 8.0%.

 

Tiffany & Co. revenue raised by 5.3% to $959M in the third quarter

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Tiffany & Co. posted a rise in revenue in the third quarter that ended on October 31 that came in below analysts' expectation – up 5.3 percent on the year to $959.6 million. Analysts had been looking for revenue of $970 million. Net profit in the quarter slumped almost 60 percent to $38.3 million from $95 million a year before. On a bright note, same-store sales, a critical indicator for the retail sector, climbed 4 percent.  Sales in the Americas increased by 10 percent to $459 million in the period, with same-store sales 11 percent higher. Meanwhile, in the Asia-Pacific region, Tiffany & Co. sales edged up just 2 percent to $243 million and same-store sales declined by 3 percent.

 

Movado sales fall in weak watch market

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Slow overall watch sales and poor sell-through on its flagship brand overseas led to a disappointing third quarter for the Movado Group Inc. The company reported its final results for the third quarter ended Oct. 31 on Tuesday. Net sales were down 1 percent year-over-year from $189.7 million to $188.6 million. Net income in the third quarter totaled $22.2 million, down slightly from $23.0 million in the third quarter of last year. Movado has projected that sales will increase only 1 to 2 percent, reaching the range of $585 to $590 million.

 
 

Company News

 

Chopard’s Co-President and Artistic Director was honored with the 2014 Environmentalist of the Year Award

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Caroline Scheufele, Co-President and Artistic Director of Chopard was recognized with the Environmentalist of the year award during the 20th Edition of the Bravo Business Awards, presented by Latin Trade magazine, leading provider of information and business services to companies operation in Latin America, on November 7th in Miami, Florida. Caroline Scheufele, received the Environmentalist of the Year from Livia Firth, Creative Director of Eco-Age Limited, for her role championing “The Journey to Sustainable Luxury”.

 

F. A. Lange watchmaking excellence award 2014

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The “F. A. Lange Watchmaking Excellence Award” for the year 2014 was presented on 24 October. Torsti Laine, a student of Kelloseppäkoulu – The Finnish School of Watchmaking – received the prize of EUR 10,000 for his design of a moon-phase display that also emulates the earth phases from the moon’s perspective. He accepted the prize from company founder Walter Lange and Lange CEO Wilhelm Schmid at an international press event. Torsti Laine’s concept impressed the jury from the very beginning.

 

Vacheron Constantin opens its first boutique in Japan

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Vacheron Constantin opens its first boutique in Japan on the prestigious main street of Chuo-dori, situated in Tokyo Ginza district. To celebrate, an exclusive reception was hosted to welcome distinguished guests with the opportunity to step into the impressive two-floor boutique for the first time. Dedicated to technical and aesthetical Haute Horlogerie and decorated with a luxurious interior design in harmony with the brand codes, the entire range of the Vacheron Constantin collection including the three exclusive Ginza Boutique limited-edition timepieces was showcased. To celebrate the opening of Ginza boutique, 20 timepieces are exhibited for public on the second floor until January 12th, 2015.

 

Tiffany & Co. unveils 2014 Magical Holiday Windows

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Tiffany & Co. reveals the Magical Holiday Windows of its Dubai Mall flagship store in celebration of the 2014 holiday season. This annual tradition is an invitation for Tiffany’s friends and aficionados to discover a new whimsical story portrayed on the store’s façade and enjoy this merry occasion in a dreamlike setting that highlights the jeweler with all its style and allure. The theme of the 2014 holiday window focuses on the energy and sophistication of New York City in the 1950s and ’60s.

 

Hublot as the Official Timekeeper in the ICC Cricket World Cup 2015

Hublot is entering the world of cricket. The event was held in New Delhi (India), in the presence of Ricardo Guadalupe, CEO of Hublot and David Richardson, Chief Executive of the ICC, who held a press conference before a throng of Indian journalists in the Leela Ambience Hotel to announce Hublot's appointment as Official Timekeeper in the ICC Cricket World Cup 2015. To mark the occasion, Hublot's Champion Ambassador Harbhajan Singh took part in the "Bowl for a Million Rupee Charity Challenge" organised by Hublot in the neighbouring luxury arcade, the Ambience Mall.

 

Roberto Coin opens Boutique at Thuraya Mall

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Roberto Coin designer graced Thuraya Mall in Salmiya for the opening of the Roberto Coin jewelry boutique. Mr. Coin was specially invited to the event by Al Ostoura International, who has brought the luxurious Italian label to Kuwait. The private and exclusive opening was attended by VIP customers. Mr. Coin was introduced to the attendees by Mr. Rami Tabiaat, President of Al Ostoura.

 

Backes & Strauss and English National Ballet renew their partnership

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Backes & Strauss announces its partnership with English National Ballet is to continue, entering into its second year. Marking a celebration of the deepening relationship between these two iconic brands, Artistic Director of English National Ballet, Tamara Rojo is to become a brand ambassador for Backes & Strauss. Led by Tamara Rojo, English National Ballet brings world-class ballet to the widest possible audience through innovative collaborations, creative excellence and bold ways of honouring, and adding to, traditional ballet.

 
 

Product Launch

 

Audemars Piguet presents Royal Oak Offshore Selfwinding Tourbillon Chronograph

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Audemars Piguet presents for the very first time in the Middle East the limited edition Royal Oak Offshore Selfwinding Tourbillon Chronograph. Royal Oak Offshore will find the model's eight; trademark polished steel hexagonal screws nestling within the recesses of a black ceramic bezel, which has contrasting satin brushed and polished surfaces to provide exceptional definition of its clean-cut angles. The powerful case middle is constructed from forged carbon. Audemars Piguet in the original Royal Oak Offshore back in 2007. The pushpieces, meanwhile, are made from ceramic and titanium and set within separate, titanium guards which are secured to the main body of the case by four visible screws.

 

Arnold & Son presents Royal HM Pandas

The highlight of the HM Pandas edition is in white gold hand-engraved appliqué of two pandas, which has been duplicated for the series. The case is available both in rose gold or white gold and with a diamond-set bezel. The detail on the dial is completed with a miniature hand painting of bamboo leaves. Its twin barrels, which generate a 90-hour power reserve, all the plates and bridges in the movement, are hand-chamfered and decorated. The strap is hand-stitched black or brown alligator leather.

 

MB&F launches Horological Machine No 6 (HM6) timepiece

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On 1st December 2014, with only 50 limited edition timepieces in Ti-6Al-4V titanium, the Horological Machine N°6 (HM6) ‘Space Pirate’ is the latest watch to be unveiled by MB&F, in the category of ‘Horological Machine’ available at Ahmed Seddiqi & Sons. In the series, Capitaine Flam commanded “the Comet” a spaceship that was designed with two spheres joined by a connecting tube, and this series impacted Büsser and planted the seeds for a time piece that emulated the design elements of that particular space ship. 

 

Ralph Lauren presents the Sporting Black Chronometer

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The Sporting Classic Chronometer combines Ralph Lauren; the new smaller-sized case displays a lustrous polished stainless steel with a contrasting vintage dial, giving this watch a masculine yet stylish look at home in the boardroom or on the yacht. The steel case features six round riveted screws on the bezel - a sporty touch that contrasts with the classically inspired dial. The movement is a COSC-certified chronometer oscillating with a power reserve of 42 hours, beautifully finished with vertical Côtes de Genève stripes and perlage. Presented on a black alligator strap with a pin buckle.

 

La Plage festive season collection

La Plage, which translates in English as “the beach”, is an exceptional one-stop destination for jewelry and trendy accessories based in Dubai, United Arab Emirates.  At La Plage the unique brands such as HIPANEMA and AMENAPIH from France are inspired by the colors of Brazil, Mishky jewelry with Social Responsibility and 100% handcrafted in Colombia, Les Interchangeables which is fully created and handmade in France and studded with Swarovski® Elements, Stella Rittwagen baskets designed and made in Spain, Les Cleias inspired by Paris’s Marais’ area cultural abundance.

 
 

Exhibitions & Events

 

GJEPC to organize “World Diamond Conference” in New Delhi, India

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Gem & Jewellery Export Promotion Council (GJEPC), the apex body of gems and jewellery trade in India, in association with the World Diamond Mark Foundation (WDMF) and with the support from the Ministry of Commerce and Industry, GOI and powered by Al Rosa to organize the first ever-global congregation of Diamond leaders in India at the “World Diamond Conference” in New Delhi on December 11 and 12, 2014 at Vigyan Bhawan, New Delhi, India. Pegged as a highly momentous and magnanimous conclave in the diamond industry worldwide, H.E. Vladimir Putin, Hon. President of Russia and Shri. Narendra Modi, Prime Minister India expected to attend the inaugural function on December 11, 2014.

 

BIJORHCA PARIS to showcase the Spring Summer 2015 collections

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BIJORHCA PARIS welcomes more than 500 exhibitors carefully selected, including 50% international from over 30 countries, looking forward to showcasing the Spring-Summer 2015 collections to over 15,000 professionals, including 35% international from over 80 countries. BIJORHCA PARIS starts from 23rd to 26th January 2015 at Paris – Porte De Versailles.

 
 

Celebrity News

 

Cara Delevingne wears Messika Rings for the British Fashion Awards 2014

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Cara Delevingne, crowned model of the year, wore Messika's stunning Amazone double ring and Spiky ring, both set in pave diamonds and white gold at this year's British Fashion Awards.

 
 
 
 

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