Market News

Saudi GDP increases by 6.6 percent in Q4 2011

The gross domestic product (GDP) of Saudi Arabia increased by 6.6 percent from a year earlier in the fourth quarter of last year, accelerating from 5.1 percent growth in the third quarter, the Central Department of Statistics and Information in Riyadh said. The oil sector, which accounts for nearly a third of the economy, expanded 6.1 per cent in the fourth quarter. While the private sector growth, at 9.9 per cent, far outpaced the state sector's 3.6 per cent expansion. The construction sector expanded 13.3 per cent because of a real estate boom and heavy government spending on infrastructure. High oil prices and state spending ignited a boom in the Saudi economy last year. The government previously announced that GDP grew 6.8 per cent in 2011, up from 4.6 per cent in 2010 and its fastest expansion since 2003.

Ulysse Nardin acquires Ebel Chronograph Movement

Ulysse Nardin takes another swift step toward independence with the acquisition of the Ebel in-house chronograph movement. A revered and reliable movement, it has been considered one of the finest on the market for 17 years – a true success story. Interestingly, the Ebel Chronograph story of development began in parallel with one of Ulysse Nardin’s most notable breakthroughs: the Perpetual Calendar.
The commonality is a grassroots movement that was optimized and adapted to each of these two outstanding products, allowing both brands to realize their dream of innovation. Ulysse Nardin looks forward to releasing the additional manufacture movement in its final “wand” by the end of 2012.

Harrods launches the new Fine Jewellery & Watch Rooms

This November Harrods becomes the world’s ultimate destination for fine jewellery and haute horology by doubling the size of its current space to create two dedicated fine jewellery and fine watch rooms. Housing unique designs, boutique labels and the world’s leading fine watch and jewellery brands, Harrods offer is quite simply unparalleled. Situated alongside the original fine jewellery room, the new Fine Watch room at Harrods will play host to Europe’s largest watch collection, providing customers with an elegant and sophisticated environment to view the widest selection of fine timepieces, carefully curated by Harrods expert buying teams. In total, 35 fine watch brands will be on offer across 18,000 square feet of retail space, showcasing the world’s very best, from classic designs to innovative and futuristic complications.

Sotheby’s Geneva to auction over 700 Jewels including the Beau Sancy

On 14 and 15 May 2012, Sotheby’s Geneva will present over 700 lots in its sale of Magnificent Jewels and Noble Jewels. The two-day sale will be spearheaded by one of the most important historic diamonds ever to come to auction: The Beau Sancy. At the heart of the sale will be The Beau Sancy, a diamond which has been the privileged witness of 400 years of European history. Passed down through the Royal Families of France, England, Prussia, and the House of Orange, the celebrated stone was worn by Marie de Medici in 1610 at her coronation as Queen Consort of Henri IV. The 34.98 carat modified pear double rose cut diamond was almost certainly discovered in the area of Golconda in India, the sole source of diamonds until the discoveries in Brazil in the 1720s.

Company News

Audemars Piguet opens its second boutique in Dubai

On 11 April 2012, Audemars Piguet has opened its second boutique in Dubai at Dubai Mall. The association between Ahmed Seddiqi & Sons and Audemars Piguet dates back to 1973 and has been officialized on June 1st, 1988. The partnership is now further reinforced with the opening of the second Audemars Piguet boutique in Dubai. The new boutique successfully integrates the brand aesthetic and identity codes, focuses on the use of understated, elegant and natural materials, as well as lighting that is particularly well suited to accentuating the spacious nature of the premises.  To celebrate this high-level opening, a reception was organized by Audemars Piguet in collaboration with Ahmed Seddiqi & Sons, and brought together Mr. Philippe Merk, CEO of Audemars Piguet, Mr. Abdulmagied Ahmed Seddiqi, Chairman of Ahmed Seddiqi & Sons, Mr. Nicolas Garzouzi, Chairman of Audemars Piguet Middle East, as well as a selected number of VVIP guests and media representatives.

Raymond Weil to inaugurate its new boutique at Pearl Qatar

On 25^th of April, Raymond Weil will be inaugurating its new flagship boutique at Pearl Qatar in Doha. Raymond Weil CEO & President and Sheikh Fahad bin Hamad Bin Jassim Bin Jaber Al Thani will be present for this official inauguration.

Roberto Coin opens his second monobrand in Dubai

Roberto Coin has opened its second monobrand in the Mall of the Emirates. The store occupies an area of 80 square meters and stands alongside some of the world’s most prestigious international brands. The concept of the boutique is built around the unique jewellery creations of the famed Italian Jeweller. The boutique is a showcase of modern design where the relaxing atmosphere encourages customers to enjoy the beauty of each jewellery piece and fully appreciate Roberto Coin creativity and the extensive array of his collections, like Appassionata, Fantasia, CapriPlus, Cocktail, Scorpion, and many others. For the special occasion the brand launches the Customizable Jewel, an extremely precious and innovative idea.

F.P. Journe to participate at Indianapolis 500

Lotus Group CEO Dany Bahar officially announced the partnership with the F.P.Journe watch Manufacture, and Lotus driver Jean Alesi taking on Indy 500, America’s most famous motor race. On 27 May 2012 the legendary Indianapolis 500 will witness a double grand premiere: Jean Alesi will race at the Brickyard for the first time in his celebrated career, wearing the Centigraphe Sport on his wrist, and F.P.Journe will be emblazoned on the side of the black-and-gold Lotus. This partnership between watchmaker F.P.Journe and Lotus will promote the launch of the F.P.Journe lineSport, and marry the shared values of these two companies: Innovation, precision craftsmanship, performance, exclusivity, and lightness through its use of aluminium.

Richard Mille offers a unique wristwatch at Christie’s Geneva May Auction

On May 14th Richard Mille will auction the RM 033 Sentebale at Christie’s Important Watches sale, Geneva. The watch was donated by Richard Mille in aid of the Sentebale and Tusk Trust’s charitable work. This unique RM 033 automatic caliber comes in an 18k red gold case, black rubber strap and red gold buckle. The colors of the dial take inspiration from the Sentebale logo which is discretely reproduced on the back sapphire glass. Richard Mille paid homage to Sentebale and Tusk Trust whose Patrons are Prince Harry and The Duke of Cambridge respectively by donating this extraordinary piece during last year’s edition of the British Polo Day Charity Cup. A quintessential celebration of the finest polo, the day attracted VIP guests and members of several royal families including Prince Seeiso of Lesotho, who is the Co-Patron of Sentebale alongside Prince Harry.

Julio Iglesias receives Louis Moinet timepiece

During a soiree organized in Kuala Lumpur, famous watch collector Dr Bernard Cheong presented Julio Iglesias with a one-of-a-kind version of the Geograph Rainforest, specially created for him by the Ateliers Louis Moinet. Participants were able to enjoy a special performance by the famous artist. Dr Cheong is happy to be taking part in spread awareness of this exceptional creation dedicated to preserving the Malaysian tropical forest of Belum-Temengor, one of the oldest in the world. Geograph Rainforest is a truly unique creation in the watchmaking field. It features a dial made from an authentic fossilised palm tree from South- West Asia estimated to be 70 million years old.

Product Launch

Hublot unveils Big Bang Ferrari Limited Editions in China

The new Big Bang Ferrari, officially launched at BaselWorld 2012, integrates the innovative watchmaking technique of Hublot and the unparalleled racing spirit of Ferrari in an unprecedented product that is set to become a legendary and unique timepiece. The Big Bang Ferrari Limited Editions were formally unveiled in China at the opening of the Shanghai F1™ Grand Prix on 11 April 2012. Chinese customers were treated to a presentation by Ricardo Guadalupe, Hublot’s CEO, of this extraordinary tour de force whose three breakthroughs in technology and design have once again accomplished Hublot’s ambitions in its ultimate pursuit of the “Art of Fusion.”

The Beetle Watch by Chopard

Chopard has launched the Beetle Watch in 18ct white and yellow gold fully set with yellow diamonds (15.86 cts), black diamonds (7.65 cts), brown diamonds, diamonds, amethysts, emeralds, sapphires,  garnets and lazulites. Sapphire crystal bubble, quartz movement.

Tissot launches its 2012 MotoGP watches collection

Tissot has launched its limited-edition collection of watches for the 2012 MotoGP season. The collection is inspired by the motorbike race series, the machines and riders that compete in it. Self-winding and quartz models of the Tissot T-Race MotoGP edition are available, the former limited to 2012 pieces and the latter to 8,888, produced in carbon fibre composite and presented in special MotoGP collector’s boxes. Two further limited editions are dedicated to riders on the circuit. The first is the T-Race Thomas Luthi edition, sporting an equally racy design that uses the black, yellow and silver of Lüthi’s team and is limited to 999 pieces. The second is the T-Race Nicky Hayden edition, limited to 4,999 pieces.

JEANRICHARD presents the Highlands Collection

JEANRICHARD has presented the Highlands Collection, its new range of adventure watches. Elegant and racy, these mechanical self-winding timepieces come with black or anthracite-grey dials and matching natural rubber or plain fabric straps. Sculpted in sand-blasted steel, these new Highlands models with their generous dimensions (44.5 x 40 mm) are resistant and its screw-down crown ensures water-resistance to 100 metres. Precision and resistance to corrosion, accidental knocks and extreme temperature changes make these watches totally reliable travelling companions. The Highlands models feature an automatic movement and a 42-hour power reserve. The notched aluminium rotating bezel allows for a second time zone display, an essential feature for all globetrotters.

Bremont limited edition Victory watches

Bremont Watch Company is delighted to be working with The National Museum of the Royal Navy (Portsmouth) to create a limited edition. Each mechanical retrograde watch will be made with original parts of HMS Victory built into it. HMS Victory is the only remaining 18th Century ship anywhere in the world and remains the oldest serving warship still to be in commission. Laid down in 1759 and launched in 1765; she is most famous as Lord Nelson's flagship at the Battle of Trafalgar in 1805. Many years of exposure have taken their toll on HMS Victory and in 2010 a major refit was commissioned to preserve her for future generations. To commemorate Nelson and HMS Victory, Bremont is producing a totally unique watch that will include parts of oak timber and copper from the original ship. Part of the proceeds of each watch will go towards the refurbishment and preservation of the ship.

Piaget to reveal its newest collection in Lebanon

Wadih Mrad and Piaget will be organizing a press lunch in the Lebanon to reveal the new Piaget collection during the first half of May.

Montegrappa to launch its first Fragrance in the Middle East

On Tuesday, 17^th of April 2012, Montegrappa will launch its first Fragrance at Paris Gallery in the Dubai Mall.

Exhibitions & Events

Areeq LIALI Exhibition

Starting April 12 to June 12, LIALI Jewellery is holding the Areeq LIALI Exhibition for its glamorous bridal sets in Mercato store. The sets with a lavish spread of jewels include necklaces, rings, earrings and bracelets are encrusted with high quality diamonds and precious stones. According to LIALI officials these one-of-a-kind pieces have been created to make the bride the centre of attention on her wedding day and add sophistication to the bride’s look. The brilliance of diamonds in these jewels is heightened by the lustrous beauty of emeralds and rubies, created in a playful setting thus capturing the elegant femininity of young brides. And now with the International Gemological Institute’s (IGI) certification, one can buy them with complete peace of mind as the quality and credibility of diamonds is ensured.

Celebrity News

Scarlett Johansson wears Van Cleef & Arpels at LA Premiere of "The Avengers"

On 11th April 2012, Scarlett Johansson wore Van Cleef & Arpels at the LA Premiere of her new movie "The Avengers". Scarlett Johansson wore 1.5 carat round earstuds in diamond and the Volutes ring in white gold and diamonds.

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