Saudi's GDP growth speeds up in Q3, Dubai Duty Free sales touch Dh7.3billion in 2018, Panerai announces Mahendra Singh Dhoni as its Brand Ambassador for India.

   
 
 

Interviews

 

Interview with Mr. Pascal Raffy, owner of BOVET 1822

1. Bovet Récital 22 Grand Récital acquired the Aiguille d’Or in the 2018 Grand Prix d’Horlogerie de Genève, did you expect such a feat? What did it add to the company’s profile and procession?

Winning the Aiguille d'Or at the Grand Prix d'Horlogerie de Genève is undeniably the highest distinction possible. The prize acknowledges the two centuries throughout which the Maison BOVET has actively contributed to the growth and excellence of Swiss watchmaking.  But first and foremost, this award recognizes the talent, virtuosity and grit of our craftsmen, who join forces on a daily basis to determine the most noble expression of time. Personally, I take this award both as an honor and as a responsibility: We are held to the standard of expressing time in the most distinguished way in an infinite pursuit of excellence.

2. What is Bovet offering for watch collectors and lovers this year in its first SIHH?

Since I took Bovet over in 2001, I have constantly sought to uphold the values of our House which have remained unchanged for almost two centuries. I defend uncompromising fine watchmaking, with integrated production of all the components of our timepieces, be they our movements (including traditional balance springs that only a handful of companies have mastered worldwide), our cases, our hands or our dials. The craftsmanship aspect is predominant. Our components are thus manufactured in the etymological sense of the word and their finishes, decoration and therefore the very virtuosity of our craftsmen have been the hallmarks of our House since 1822. Finally, the notion of scarcity is very dear to me. It implies a unique dimensioning of our House in terms of the number of timepieces we manufacture and that's certainly what makes us stand out in the current world of watchmaking. It is with this definition of excellence that we will present our timepieces at SIHH.

3. What are your expectations? 

BOVET 1822 has always been about Uniqueness in its mechanical skills and its sensitivity to Fine Arts. Nearly two centuries after the House was born, we remain very much attached to true watchmaking values where the craftsman is the key contributor in expressing Time in the most beautiful way. My expectations are linked to bringing more collectors to that necessity of preserving and strengthening such virtuosi skills in this globalized world.
We hope that our collectors will find the timepieces that meet their expectations in terms of artisanal watchmaking in our 2019 collection.

4. Bovet is known for its craftsmanship and elegance; how does an independent company remain at the forefront of horological innovation while pioneering patented new technological innovations?

Independence. I remember when my grandfather once explained to me that luxury calls for a clear identity, in small quantities and must be handcrafted. If you cannot answer these three main points, you are not talking about luxury. You can talk about industrial processes, globalization, that quantity is the essence and marketing is the tool. That is why independence is essential to me.

5. You emphasize on traditional artisans and handcraftsmanship, but how important are they in such a fast-moving world? 

Our two centuries of history and our presence within the most prestigious art museums in the world demonstrate our values and respect for traditional "academic" high watchmaking. We mustn't overlook that the Bovet brothers, and the generations that followed, showed themselves to be particularly innovative as history unfolded. 
For example, the Bovet brothers are known as the inventors of the transparent case backs (now produced in mineral glass) featured on almost all the pocket watches manufactured from 1822 on. The history of the 19th and 20th century also marked a number of very innovative chronographs that remain technically unequaled to this day, as collectors recognize. We might also cite a pocket watch manufactured in the early 20th century that still today holds the absolute record for autonomy with a power reserve of 370 days. And this list, of course, is non-exhaustive. 
Since I purchased the Maison BOVET 1822, we have filed for 17 patents. These exclusively address our technical and chronometric breakthroughs, in respect of our values and our commitment to protecting artisanal methods and traditional materials. Our convertible watch case system – Amadeo –, our double face flying tourbillon and our spherical differential gear are among the most emblematic of these. We also innovate in terms of design, as demonstrated by the writing slope-shaped watch cases from the exclusive collection dedicated to astronomy, of which the Grand Récital is the third timepiece. Even the decorative arts enable us to innovate. For example, we have introduced a miniature hand-painting technique combining traditional methods and the application of luminescent materials, of which the hemispheric earth of the Grand Récital is the ultimate interpretation.

6. How do you describe Bovet performance in the Middle East? What potentials does it still hold?

Definitely, Middle East markets are incredibly vivid, peopled by connoisseurs; human beings sensitive to uniqueness, craftsmanship and innovation, eager to preserve true watchmaking.

7. What is Bovet approach to online sales? Do you consider selling on major platforms?

Some of our retail partners already propose online sales on their sites. My long-term vision has always been the same, and it always will be. My House will continue manufacturing excellent timepieces in accordance with the artisanal traditions of Fine Watchmaking, maintaining the uncompromising quality criteria that characterize our timepieces.
In tailor-made timepiece manufacturing, top-of-the-range service with explanations and close contact with the collector are essential.

8. After all the successes that you accomplished, what do you think will be the biggest challenges for Bovet now?

My vision of the future of our Maison is ongoing and based on the long-term. We will continue to manufacture timepieces to an excellent standard in the greatest respect of artisanal watchmaking. For example, we individually turn the pivot of each wheel and each gear on each movement according to the artisanal method that was already being employed in the 18th century. By perpetuating these methods, we are able to guarantee the incomparable quality of our timepieces.
I am not against the use of new technologies, as long as they further the reliability, chronometry or decorative arts of our timepieces, and as long as they guarantee their lasting quality in the very long term.

Lastly, and the most important for me , to keep always alive and strengthen Year after Year my quest  for uniqueness, a deep and permanent concern for each detail with good taste and never to be influenced by fashion knowing it is ephemeral. Tradition with innovation lasts and as far as BOVET will keep its firm will to preserve its values notably Human. The House of BOVET will keep surprising its teams and collectors for their mutual delight and emotion.

 
 
 

Market News

 

Saudi's GDP growth speeds up in Q3.

Saudi Arabia’s economy grew in the third quarter at its fastest rate since early 2016, boosted by expansion of the oil sector while non-oil growth stayed sluggish, as per statistics agency data.
    
Gross domestic product grew 2.5 percent from a year earlier. That was an acceleration from the second quarter, when GDP rose 1.6 percent, and the fastest since the first quarter of 2016, when the same rate was registered. The Saudi economy has been hit hard in recent years by low oil prices and state austerity measures to curb a huge budget deficit. In 2017, it shrank for the first time since the global financial crisis nearly a decade earlier. The data suggested the recovery from that slump was still tentative. GDP growth picked up largely because of higher oil output. The oil sector expanded 3.7 percent from a year ago in the third quarter, after 1.3 percent in the second. 

 

Dubai Duty Free sales touch Dh7.3billion in 2018.

Dubai Duty Free (DDF) reported Dh7.3 billion in sales in 2018, marking a 4.3 per cent increase over sales in 2017. 
The top selling categories for the year were alcohol, perfumes, cigarettes, cosmetics, and electronics, DDF said in a statement. Meanwhile, sales of watches held sixth position, rising by 2.66 per cent to Dh531.6 million. Sales of gold reached Dh489.9 million as sales of confectionary reached Dh475.8 million.
On December 20, DDF marked its 35th anniversary with 25 per cent discounts on a range of products, and recorded Dh106.8 million in sales during the 24-hour period.

 
 

Company News

 

Panerai announces Mahendra Singh Dhoni as its Brand Ambassador for India.

Panerai announces its collaboration with Indian cricket icon Mahendra Singh Dhoni as Brand Ambassador for India. An ardent fan and connoisseur of the brand and one of the most respected sportsmen  in  the  world,  MS  Dhoni  perfectly  embodies  the  values  of  quality, authenticity and passion of the Panerai legacy.  

 

CASIO G-SHOCK partners with famous NY rapper A$AP Ferg.

CASIO Middle East has announced the coming release of a new limited-edition collaboration timepiece in the UAE, the GA-110FRG-7A, which is the result of the recent team up between CASIO G-SHOCK and famous New York rapper, A$AP Ferg. The new model features a clear resin band and bezel with blue, red and yellow accents on the dial face complemented by A$AP Ferg's signature on the band loop and case back. 

 

CHANEL takes a stake in KENISSI Manufacture.

CHANEL continues to strengthen its position in prestigious Watchmaking by taking a stake in KENISSI manufacture. 
Today  the  KENISSI  Manufacture  offers  a  range  of  robust  and  high  performance calibers. Currently based in Geneva, KENISSI will be moving to a new building located in Le Locle in 2021. During  Baselworld  in  March  2019,  CHANEL  will  present  a  brand  new  creation equipped with an automatic movement created by the KENISSI Manufacture.  

 

DMCC joins GJEPC’s MyKYCBank platform.

The Dubai Diamond Exchange (DDE) – a subsidiary of DMCC (Dubai Multi Commodities Centre) – signed a service agreement to join the MyKYCBank platform of the Gem & Jewellery Export Promotion Council. Mr. Ahmed Bin Sulayem, Executive Chairman of DMCC, and Chairman of DDE, and Mr. Pramod Kumar Agrawal, Chairman, GJEPC, were present at this momentous occasion. 

 
 

Product Launch

 

Jaquet Droz Bird Repeater Falcon spreads its wings in the desert.

The falcon, national symbol of the United Arab Emirates, is honored in an exclusive new version of the Bird Repeater that draws on 280 years of the Jaquet Droz Art of Astonishment.  The 47 mm white gold case presents a desert scene in mother-of-pearl and yellow and red gold, engraved and painted entirely by hand. On the dial in the foreground, a pair of falcons tends to two chicks in a hand-engraved and hand-painted red gold nest. The scene unfolds beneath a mother-of-pearl sky that illuminates the yellow gold sands. 

 

Omega presents Valentine’s Day Collections.

OMEGA’s De Ville Trésor is designed to get hearts ticking faster, with a dial and leather strap in garnet – a passionate shade of red. Sleek and elegant, the 36 mm model features diamond paving along each side of the case and a single diamond set within the crown.  Sweep your lover off their feet with the waves of the Seamaster Diver 300M, This 42 mm watch in stainless steel and 18K Sedna™ gold is ready for anything. It features a black ceramic bezel with a Ceragold™ diving scale, and a black ceramic dial with laser-engraved waves.

 

Carl F. Bucherer Manero Flyback Chronograph

The new Flyback Chronograph boasts an 18 k rose gold case that houses a column-wheel mechanism, ensuring both precision and ease of use. The vintage character of the timepiece gets an elegant contemporary twist thanks to black and red accents and a kudu-leather strap. The black sunburst-finished dial pops against the two silver-colored totalizator subdials – a small seconds display and a 30-minute counter – while bold red accents such as the “Flyback” lettering and the outline of the chapter ring add another stunning contrast.

 
 

Exhibitions & Events

 

Dubai Watch Week returns in 2019 for its Fourth Edition.

Dubai Watch Week confirms that its 4th edition will take place in November 2019, in addition to an extra-special edition of the event in 2021. Maintaining its commitment to showcasing the ingenuity and creativity of the industry, this year’s edition focuses on the transfiguration of horology under the theme ‘Technology & Innovation’, provide watch enthusiasts, collectors and visitors with yet another exciting and immersive platform in which to learn more about watchmaking.

 
 

Celebrity News

 

Michelle Obama shines in BVLGARI Jewellery.

Former U.S. First Lady Michelle Obama (IG: 23,9M Followers) shines in BVLGARI when visiting the Elizabeth Garrett Anderson School to inspire their pupils, as well as at an exclusive event to celebrate her new memoir, Becoming, at Southbank Centre's Royal Festival Hall. The Former U.S. First Lady chose the brand’s iconic B.zero1 ring to wear for this special day.

 

Julianne Moore wears Chopard to the "L'Oréal Paris Women of Worth Celebration"

Julianne Moore attended the L'Oréal Paris Women of Worth Celebration in New York City wearing jewelry by Chopard. Julianne Moore shined in a pair of earrings featuring 21.21-carats of tsavorite garnets and 11.96-carats of colored diamonds set in 18k yellow gold and titanium from the “Haute Joaillerie Collection” 

 

Stars shine in Cartier at the 76th Annual Golden Globe Awards in Los Angeles.

Amy Adams wore Les Galaxies de Cartier earrings and bracelet, 18k rose gold, moonstone, milky quartz, diamonds.

Rachel Weisz shines in Cartier High Jewelry necklace, 18k white gold, coral, onyx, and diamonds.

Michael B. Jordan wore Cartier Vintage brooch, 1934, platinum, 18k white gold, diamonds

 
 
 
 

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