Interviews

Exclusive interview with Mr. Yassin Tag Vacheron Constantin Middle East Brand Director

What is the SIHH impact on a premium brand such as yours in the Middle East?

The SIHH is the most important yearly meeting with our partners in the region. It is the time when we present them with the new models to be launched in the coming year. It is also important for the brand as it will give us a very good indicator on the overall market mood as well as next year’s orders.

What are your expectations at SIHH 2013?

Although everyone is cautious in regard to the worldwide economic situation, we are confident that the Middle East and especially the Gulf region will grow above average; the demand for Vacheron Constantin is also growing so we are optimistic.

When would you expect the SIHH novelties to be available at boutiques and POS in the Middle East?

Normally, some of the novelties are launched prior to the summer period around April-May and others are launched during the second half of the year around Sept-Oct.

Which of your watch models is the most popular in the Middle East? And Why?

Both our Patrimony line for its timeless classism and overseas line for its sporty-chic look are very popular. Moreover, the Malte collection and the Quai de l’Ile are doing extremely well as they offer an alternative to round watches.

What are the challenges that you are facing as watch makers/ retailer under the global and regional economical circumstances?

We believe that the region will still grow above average compared to the other parts of the world. However, we are trying our best to support our partners that are in countries that faces political and economic challenges such as Egypt and Lebanon, overall we are confident in the future.

Market News

Swatch Group 2012 Sales

In 2012, the Swatch Group generated gross sales of CHF 8 143 million and to exceed the previous year’s gross sales by a billion or +14.0%. Again in 2012, the strong Group brands performed convincingly in all regions and price segments, notably outside Greater China as well, and realized further conspicuous growth in market share. The gross sales in the Watches & Jewelry segment increased by +15.6% to CHF 7 297 million. In the Production segment, capacity was again adapted and expanded, resulting in improved performance. This led to an increase in gross sales of +10.1% to CHF 2 218 million. Existing bottlenecks were further reduced in 2012. The brands report a good start in the New Year, and healthy growth is again expected in 2013.

Tiffany & Co. posts sales increase in 2012

Tiffany & Co. reported that worldwide sales increased 4% year on year to $992 million for the Christmas season, which included the months of November and December 2012. Internet and catalog sales rose 4%.

UAE GDP to grow 4% in 2013

The UAE’s real GDP is projected to grow by up to four per cent in 2013, fuelled by strong crude prices and expansion in tourism, trade and industry, a senior economy official was reported on Sunday as saying. In current prices, GDP is expected to soar to a record high of Dh1.39 trillion this year from an estimated Dh1.33 trillion, an increase of about 4.5 per cent, said Mohammed Al Shehi, undersecretary of the Ministry of Economy. “The UAE economy will likely expand by 3.5-4 per cent this year to maintain its position as one of the best performing and fastest growing economies in the world,” he said, quoted by the Dubai-based Arabic language daily Emirat Alyoum. “We expect real GDP growth this year to be 3.7 per cent…there has been growth in many sectors, mainly tourism, services and manufacturing, which grew by around three per cent so far this year…trade also expanded by four per cent,” Mansoori said. Mansoori said the UAE, the largest Arab economy after Saudi Arabia, has managed to slash inflation from a record high of 14 per cent in 2008 to below one per cent in 2011.

Longines becomes FEI Top Partner with historic long-term deal

Longines has become the FEI’s first Top Partner following the agreement of a historic long-term sponsorship deal that will see the Swiss watchmaker become the Official Timekeeping Partner of the FEI. Under the new agreement – which marks the biggest sponsorship deal ever brokered by the FEI – Longines becomes the Official Top Partner, Official Timekeeper and Official Watch of the FEI. Longines will take on a number of key FEI properties including the title sponsorship of the FEI World Cup™ jumping before the start of the new season in October 2013. An official signing ceremony will take place in Lausanne (SUI) on 15 January 2013, when the contract will be signed jointly by FEI President HRH Princess Haya, and Mrs Nayla Hayek, Women of the Swatch Group Board of Directors. Full details of the agreement will be unveiled as part of the signing ceremony in January 2013.

Company News

Audemars Piguet Ambassador Leo Messi World’s Best Football Player for 4th consecutive Year

Audemars Piguet Ambassador Leo Messi was voted the world’s best football player in 2012 by journalists, national coaches and captains. A winner of the prestigious award for the fourth consecutive year. Messi scored all-time high 91 goals in 69 games in 2012, 79 for Barcelona and 12 for Argentina. He also scored twice in eight successive games and they were almost all goals of barely plausible brilliance. Audemars Piguet launched in 2012 the Royal Oak Chronograph Leo Messi Limited Edition in steel, pink gold and platinum versions and will auction the N°10 watch of the platinum edition in spring 2013.

Blancpain new the Valentine’s Day

Watch for Valentine’s Day, Blancpain presents a watch specially created for the day of love and lovers. This model with its shapes, colours and gemstones inspired by the universal symbols of love is bound to appeal to romantics keen to declare tender feelings for their sweetheart. The 34 mm steel case is topped by a bezel set with two rows of full-cut diamonds, while the case middle is adorned at 9 o’clock with five liquid ceramic hearts. This three-hand model, on which the dainty seconds hand counterweight takes the shape of the Blancpain logo, is equipped with mechanical self-winding Calibre 1150.

Girard-Perregaux 1966 Captured in Three Complications

Girard-Perregaux 1966 Minute Repeater, Annual Calendar & Equation of Time watches The Mechanics of Time Captured in Three Complications. They are displayed on the dial in perfect harmony, orchestrated by a mechanical caliber with over 400 component parts. The new Girard-Perregaux 1966 Minute Repeater, Annual Calendar & Equation of Time watch has all the attributes to earn its place in the firmament of the most outstanding watchmaking achievements. A worthy heir to the Girard-Perregaux 1966 Collection, it displays its various functions with a remarkable sense of aesthetic balance, despite its hidden complexities.

Jaeger-LeCoultre Yearbook SIX

Jaeger-LeCoultre is publishing the 6th edition of its Yearbook, a large-format collector’s book that draws inspiration from the latest news on the Grande Maison in the Vallée de Joux in order to invite readers on a journey of discovery of other artistic and cultural territories. This year, the cycle that began in 2007 leads to the circle. While geometrical reality, as Franco Cologni reminds us in his preface, makes the circle “a flat shape, marked out by a line called the circumference, all points of which are situated equidistance from the central point”, the symbolism is simultaneously both far greater and more profound. When cycles and circles merge into one, life, nature and time become a round of changing seasons and changing hours, on a spherical earth spinning around the sun in endless circumvolutions.

Bremont Supports Trans - Atlantic solo row

Bremont announced recently that they will be supporting British rower Charlie Pitcher on his impressive trans-atlantic solo row due to take place in January 2013. Bremont will be the official time keeper for the challenge where Charlie will row 3000 miles from La Gomera, off the northwest coast of Africa, to Antigua where the northeastern Caribbean Sea meets the western Atlantic Ocean. Bremont continue to work with an elite selection of adventurers and hosts an explorers club every month within their Mayfair store where Charlie will speak before and after his row. Charlie will be wearing a Bremont ALT1-P during his challenge.

Product Launch

Linde Werdelin revealed the new Oktopus II Moon

The Moon is the first complication entirely conceived, developed and produced in-house by LINDE WERDELIN and will be showcased in Geneva between 22nd and 25th of January 2013. In early 2010 LINDE WERDELIN has launched the first Oktopus Moon phase in a limited series of 29 pieces. This year Oktopus II Moon is unveiled in a series of 59 pieces, available in two distinct versions (as one cycle takes 29-and-a-half days to complete). The first 12 pieces, numbered from 1 to 12, to represent one piece for each moon of the 2013 calendar year are known as Oktopus II Moon Gold and feature a rose gold and titanium DLC case with ceramic bezel. The following 47 limited pieces, presenting a full DLC titanium case with a ceramic bezel and striking blue detailing on the dial, are identified as Oktopus II Moon Black.

Omega launches its valentine gift

When people who seemingly have all the luxuries of this world are asked if there’s anything missing from their lives, they usually answer, “Time.” And time is rarely presented more beautifully than in the form of an OMEGA wristwatch. This Valentine’s Day, give the person who already has your heart the next most precious thing: a timepiece that keeps track of every magic moment in your lives together and reminds that special someone of you with each glance at the watch.

Exhibitions & Events

Cartier hosts a Legendary Diamond and Bridal Exhibition

Cartier hosts Legendary Diamond and Bridal exhibition at 360 Mall Kuwait from the 17th until the 30th of January 2013. This exceptional exhibition will present two exclusive spaces, an exceptional Bridal exposition by Cartier and a photographic museum of Cartier’s Legendary Diamonds. The Cartier bridal space presents the diamond’s characteristics known as the 4Cs (carat, color, clarity and cut), “Set for you by Cartier” a special Bridal salon providing an exclusive service making every bride’s dream come true. Cartier’s Legendary Diamonds unique exhibition sheds the light on the magic of Cartier’s dedication and timeless passion of a legendary Jeweler “par excellence” and continuous quest of beauty and distinction.

Celebrity News

Jessica Chastain wore a jaw-dropping Queen by Harry Winston Jewels

Jessica Chastain wore a jaw-dropping Queen by Harry Winston necklace. The stunning siren accentuated her neckline and accessorized her little black dress in cascading diamond necklace totaling over one million dollars.

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