LVMH nine months revenue up by 10%, The most expensive shoes in the world cost $17M on show in Dubai, Saks files a countersuit against Cartier for $55M.

   
 
 

Interviews

 

Keiji Kato: CITIZEN Watches are all about innovation

General Manager of CITIZEN Watches Gulf Mr. Keiji Kato tells us all about the fruitful journey of the famous Japanese brand in the Gulf and its 100th anniversary celebrations:
 
1. How long have CITIZEN watches been available in the Gulf region?

   We’ve been operating in the Gulf Region since 1989. Our journey has been very fruitful and we’ve been very successful in establishing a stable business in this region over the years. 

2. How many boutiques and sale points does CITIZEN have in the region?

  We have 126 sales points all across Middle East, North Africa and CIS countries from which 13 sales points are exclusive stores.

3. We know that citizen is a Japanese brand, but its history is unknown for us, now that it’s celebrating its 100th anniversary, how do you describe its procession? And what are the most important stages it passed through? 
 
   2018 has been an exciting year for us as we celebrate 100 years of watchmaking. The evolution of the brand from a regular pocket watch to the technologically advanced and path-breaking inventions such as the Eco-Drive technology, Satellite GPS watches, World’s thinnest light-powered watches etc. has been unprecedented.
 
4. How will CITIZEN in the gulf region celebrate the 100 years anniversary?

   Yes 100th anniversary is very important and we are planning for a mega launch campaign of our anniversary models towards November – December across the region with special focus on Dubai, as it’s the gateway of the region. In addition to this we have various other digital campaigns in the pipeline to celebrate this special occasion.

5. Do you have any special watch releases on the occasion?

Marking 100th anniversary this year, 2018, we are delighted to introduce a limited edition special collection – a unique series of ladies’ and men’s watches, all of which share a striking common feature; an eye-catching gold and black dial ring. This distinctive and original addition signifies “the moment when light is transformed into time”, an expression defining the light-powered technology of Eco-Drive, which Citizen is very proud to have invented and which it continues to refine. Each of the models in the collection pays homage to CITIZEN’s rich heritage, fusing design aesthetics with leading technology and outstanding Japanese craftsmanship.
  
6. And what is the ratio of masculine watches vs female watches?

   Looking at the ratio of total sales we are very strong with gentlemen’s watches which account for 70% of our total sales. We’ve been conducting a myriad of activities both online and offline to promote our CITIZEN L category through various campaigns. We are very confident about the growth of our ladies’ collection and are highly confident of seeing a 50/50 ratio in the near future.

7. Do you have special releases made only for this part of the world?

   No, as we believe in having global uniformity for our products. However we do some variation to our global collection to suit the local market. 

8. How does CITIZEN cope with the growing competition in the markets?

   The best way to tackle competition is by competing with yourself. We continue to manufacture watches which can receive faster satellite reception, go deeper in the sea than before, go higher to measure altitude than before and are the thinnest light powered models and the most precise and accurate in the world.

9. Kindly tell us more about the price ranges and the after sale services and guarantee?

   Since we are a brand that makes watches for every citizen of the world we have a broad portfolio of products with a starting retail point of $200 and going all the way up to $7000 for some exclusive collection.

10. What do you see as CITIZEN’s main strengths? 

    100 years of excellence in watch making determines our core strengths such as accuracy, technology, design and quality. It’s always about innovation for us. We are always in constant search for new technologies to measure and communicate time more accurately as time is very precious for everyone. CITIZEN have held the belief of “Better Starts Now” which is our tagline — that is, no matter who you are and what you do, it is always possible to make something better, and now is the time to start doing it.
 
11. What are your biggest challenges? 

    Our challenge is the same as every other watch brand that is how you continue to appeal your customer in this disruptive, volatile and ambiguous business world.

 
 
 

Market News

 

LVMH nine months revenue up by 10%

LVMH Moët Hennessy Louis Vuitton recorded a 10% increase in revenue, reaching € 33.1 billion in the first nine months of 2018. 

During this period the Watches & Jewelry business group achieved organic revenue growth of 14%. Bvlgari had an excellent performance and gained market share. Its iconic jewelry  and  watch  collections  Serpenti,  Diva,  B.Zero1,  Lvcea  and  Octo  showed  strong momentum; the new Wild Pop high-end jewelry line, launched at the beginning of the summer, continued  to  grow.  Chaumet and Fred progressed steadily.  In the watchmaking sector, TAG Heuer continued to develop its iconic lines. Hublot, which grew strongly, opened its first stand-alone boutique in London.

 

The most expensive shoes in the world cost $17M on show in Dubai.

The high-end shoe market is no stranger to expensive, luxurious kicks. For those conspicuous consumers with the pockets deep enough to satisfy any whim come the most expensive shoes on the market. The set can be your last word in hoof-wear for $17 million. 

The Passion Diamond heels are the headliner in the new collection of footwear from Jada Dubai. The luxury brand partnered with Dubai’s Passion Jewelers to create the shoes. Yes indeed, that is real gold on them thar heels, and each is accented with a 15-carat diamond as a culmination. 235 additional diamonds are used to add an exterior line to the shoe, adding just the right amount of ostentatious sparkle.

 

Saks files a countersuit against Cartier for $55M.

Saks Fifth Avenue has charged Cartier for $55 million, escalating a fight over whether the department store can move the fine jewellery brand's boutique out of a coveted ground-floor spot as part of a $250-million renovation of its New York flagship.
Last week Cartier sued Saks, claiming the retail giant unlawfully evicted it from its space at the Saks flagship store at the corner of Fifth Avenue and 49th Street. Cartier sought an injunction to prevent its ouster, as well as $40 million in damages.
In Saks’ countersuit, however, the retailer alleges that it didn’t have a lease with Cartier but, rather, a five-year concession agreement, though it did admit that the agreement between the companies stated that changes in the location of Cartier wouldn’t be made without written consent from both parties. 

 
 

Company News

 

Chopard partner of the second Green Carpet Fashion Awards, Italia.

Fashion and entertainment’s finest, took Milan by storm with the second edition of the Green Carpet Fashion Awards, Italia. Despite being a new addition to the fashion calendar, the awards have established themselves as one of the world’s foremost sustainability and fashion events. Chopard designed an iconic statuette for The 2018 Green Carpet Fashion Awards, Italia. Made with ethical gold, the award was presented to The Green Carpet Fashion Award winners at La Scala theatre.

 

Audemars Piguet ends its collaboration with the SIHH.

Audemars Piguet announces the end of its collaboration with the SIHH (Salon International de la Haute Horlogerie) after 19 years of partnership. The manufacture from Le Brassus will attend the SIHH for the last time in 2019. Audemars Piguet would like to thank the SIHH for such an enriching partnership and wishes them all the best for the future.

 

CARL F. BUCHERER opens Hong Kong Boutique.

Carl F. Bucherer celebrates its grand opening of the new monobrand boutique in the city’s vibrant Causeway Bay area in Hong Kong and was followed by an exclusive gala dinner at the Grand Hyatt. Chairman of the Board of Directors Jörg G. Bucherer, CEO Sascha Moeri, and renowned Chinese movie star and Global Brand Ambassador, Li Bingbing, were in attendance at the exclusive event.

 

GJEPC organized first-ever India Silver Jewellery Buyer-Seller Meet in New Delhi.

The Gem & Jewellery Export Promotion Council, organized its 1st India Silver Jewellery Buyer Seller Meet (BSM) between 3rd – 5th October 2018, in New Delhi. Mr. Senthilnathan S. Deputy Secretary, Dept. of Commerce, Govt. of India inaugurated the proceedings of BSM at Hotel Radisson Blu, Dwarka.

 
 

Product Launch

 

Patek Philippe launches the Patek Philippe Twenty -4 Automatic.

Since its release in 1999, the Twenty-4 has been Patek Philippe’s entry-level model and certainly its best-selling women’s collection.  The new version of the Patek Philippe Twenty-4. It is round, it is more casual and sportier and it is powered by an automatic movement. The bracelet has Patek’s new fold-over clasp and the case is water-resistant to 30m. It is available in steel or 18k rose gold. Patek Philippe Twenty-4 Automatic features sunburst dials with the trendy gradient colour-scheme or a silvery-white dial decorated with a double vertical and horizontal satin finish, reminiscent of the texture of wild silk. 

 

HAUTLENCE presents HL Newton model.

HAUTLENCE’s new HL Newton model, is equipped with a new self-winding manufacture calibre, on a mechanical level, a central wheel skeletonised in the form of the famous Moebius symbol, drives the blued minute hand, which is tipped with a white arrow. It also actuates the silvered opaline disc featuring the skeletonised hours. An alligator leather strap with full square scales in the same shade of blue as the mobile window adds the finishing touch.

 

Tissot unveils The Tissot Everytime Swissmatic.

The Tissot Everytime Swissmatic is an icon of modern design. A flowing case cuts a sharp silhouette, with the clean style allowing the impeccable workmanship to speak for itself. An innovative automatic movement that is created essentially in a totally automated production is the driving force behind it. This not only makes for extra power reserve - it has more than three days of power reserve, compared to the 42 hours of a standard watch.

 

Longines has created The Longines Heritage Military.

The Longines Heritage Military with its minimalist design and 38.5 mm diameter, flawlessly adheres to the refined aesthetic and spirit of the period timepiece which, at the time, measured 32.5 mm. The Longines Heritage Military also displays a silver, opaline dial with a subtle mist of fine droplets in black paint, its features a curved, fully polished bezel and box-form sapphire crystal. 

 

The Rado DiaMaster Petite Seconde Automatic COSC.

The DiaMaster Petite Seconde Automatic COSC a 43 mm-diameter plasma high-tech ceramic mono-block case embraces a silvered dial where leaf-shaped rose gold hands tick over the hours and minutes. Inside the case, a high-performance self-winding mechanical movement reigns supreme. Moreover, it has been granted chronometric precision certification by the COSC, mainly as a result of its magnetic-field-resistant and impervious silicon hairspring, a strap is black leather, stainless steel.  

 
 
 
 

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