Market News

Fifty One East opens its largest luxury store at Lagoona

Middle East’s “largest” luxury multi-brand store, Fifty One East Lagoona, was opened at a glittering ceremony by HE the Deputy Prime Minister and Chief of the Emiri Diwan, HE Abdullah bin Hamad al-Attiyah, in the presence of a galaxy of dignitaries and celebrities. Darwish Holding chairman Bader Abdullah al-Darwish welcomed the gathering by recalling that Fifty One East was established in the late forties, and was referred to, at that time, as Modern Home. “The outlet rapidly expanded to become the country’s premier retail store chain and anchoring the top shopping centres of Doha,” he said. Named the Best Retail Project for 2011 by Arabian Business, Fifty One East Lagoona Showcases a wide array of the most exquisite fashion, cosmetics, jewellery and technology brands.

Graff reportedly planning for $1b IPO

According to media reports, the London-based Graff Diamonds is planning to launch a $1 billion initial public offering some time next year in Hong Kong. A report stated that Graff plans to use the capital to open more stores in Asia, a region of the world widely viewed as the future center of luxury consumption. The company spokesperson for Graff Diamonds refused to comment on the IPO. Laurence Graff the founder and owner of Graff Diamonds is known worldwide for its purchase and sale of some of the world’s most extravagant loose diamonds and diamond jewelry.

The world's largest known yellow diamond was sold for over $10.9 million

Sotheby's had estimated that the pear-shaped Sun-Drop Diamond would fetch between $11 million and $15 million in Geneva auction. The diamond was sold by New York-based company Cora International, which discovered the jewel in South Africa last year. The color in yellow diamonds is caused by nitrogen impurities trapped within carbon molecules and hardened over the course of millions of years. The sales price doesn't include the auctioneer's commission and any taxes the buyer might have to pay.

Damas posts 524 percent rise in its net profits

Damas International has announced a 524 percent rise in its net profits for the six-month period ended September 30, 2011. Damas consolidated financial statement shows that it posted net profits of Dh26.5 million for the six-month period, compared to a net profit of Dh4.2m for the same period last year. On top of that, gold rose as an investment asset and bullion was in demand globally during the period. Damas booked profits of Dh148m from sales of gold and bullion jewellery in the period, up 85 per cent from the Dh80m it registered in the same period of last year. Moreover, its statement shows that the retailer also sold more pearl jewellery for the period – from Dh11.2m worth of jewellery for the six-month period last year, Damas sold pearl jewellery worth Dh15.7m for the same period this year, a growth of more than 40 percent.

Company News

Montblanc creates historic guest book to commemorate 40th anniversary of UAE

To mark the UAE’s 40^th National Day, Montblanc is inviting residents to pay written tributes to its ruling families in specially created commemorative guest books. The leather-bound books, together with limited edition Montblanc writing instruments, will be on display until December 2 at key locations nationwide. Mr. Joe Nahhas, Regional Brand Director for Montblanc commented: "As a company that values heritage and culture, Montblanc is proud to contribute to this historic celebration with an initiative that includes the written words of the people of the UAE.

Breguet wins 1st price at the Watches Days in Geneva

For the second year running, Breguet has once again won 1st prize in the Men’s Watch category of The Watches Days exhibition held in Geneva from November 10th to 13th and regrouping around 40 exhibiting watch brands. The Grand Prix du Public 2011, attributed by thousands of voters without the intervention of a jury, rewarded the Classique Hora Mundi. The new Breguet Classique 5717 Hora Mundi introduced at Baselworld 2011 is made of precious materials: 18-carat red gold or 950 platinum. Three versions of the dial are available, each representing one part of the world: the Americas, the European continent, or Asia. It took the Breguet teams three years to design, perfect and develop this complication watch.

Hermes wins 'Best Men's Watch' Prize at Geneva Watchmaking Grand Prix 2011

The 'Best Men's Watch' prize is the second award this year for the new Hermes masterpiece 'Arceau Le Temps Suspendu'. The prize-giving ceremony for the 11^th Geneva Watchmaking Grand Prix (GPHG) was took place in the Grand Theatre de Genève on Saturday November 19^th 2011 in the presence of the President of the Swiss Confederation, Mrs Micheline Calmy-Rey, along with Genevan authorities and 1,500 personalities from the watchmaking world. Luc Perramond, CEO of La Montre Hermes, was presented with this award by the actor Frederic Diefenthal in a ceremony attended by the most influential figures in the sector from around the world who had gathered for the event.

Baume & Mercier wins Watch Campaign of the Year Award

The new Baume & Mercier advertising campaign has won the public's heart and honored as "Watch Campaign of the Year" at the awards organized by Montres Passion magazine. Chosen from more than 110 promotional operations presented, the campaign received the greatest number of votes and stood out from the competition by virtue of its aesthetics and expression of brand values. Shot in The Hamptons with real families, the Baume & Mercier campaign is composed of six visuals that are instant snapshots of daily life. Expressing a lifestyle spirit and created to convey authenticity, the families radiate an aura of genuine emotions and a vibrant sense of real-life moments bearing the unmistakable Baume & Mercier signature.

Richard Mille celebrate its first successful season as official timekeeper of Abu Dhabi’s Yas Marina Circuit

To celebrate a first successful year of co-operation, Abu Dhabi Motorsport Management (ADMM) and Richard Mille hosted an exclusive evening on the Yas Marina Circuit earlier this month, with personalities from the world of motorsports and members of Abu Dhabi’s senior business elite attending the event. Guest of honors was H.E. Khaldoon Al Mubarak, CEO of the Mubadala Development Company and member of the Executive Council for the Emirate of Abu Dhabi. Attending guests were also, Alberto Galassi, CEO for Piaggio Aero Industries, Manish Pandey screenwriter for Asif Kapadia's documentary film ‘Senna’ and racing driver Felipe Massa. Long-time partner and test driver for Richard Mille, Felipe Massa is the only driver to wear a watch whilst competing during official races.

Carl F. Bucherer sponsors Swiss Ambassador's Award

Following its inauguration in 2010, the Swiss Ambassador’s Award for Exceptional Leadership was recently presented for the second time. In October 2011, the Swiss Ambassador to India, Mr. Philippe Welti, presented the Swiss Ambassador’s Award for Exceptional Leadership to Ratan Tata. The CEO of the Indian Tata Group was also presented with a prize by Carl F. Bucherer for his efforts to promote Indian-Swiss relations. In recognition of his outstanding work and commitment, David Vallata, Executive Vice President Sales at Carl F. Bucherer, presented Ratan Tata with a Patravi EvoTec DayDate wristwatch.

Christophe Claret partners with the Casino de Monte-Carlo

Christophe Claret is pleased to announce its partnership with the Casino de Monte-Carlo. This cooperative effort between the master watchmaker of Le Locle, Switzerland and the legendary casino in Monaco will be marked by a glittering celebration on December 9^th and 10^th 2011. A major roulette tournament event is being arranged by the famous gaming house, long a landmark as famous for its history and clientele – past and present –as for its Belle Epoque architecture. The lucky winner at the roulette table will become the proud owner of a 21 Blackjack watch by Christophe Claret. This unique piece is set with baguette diamonds and rubies and stamped with the logo of the Casino de Monte-Carlo.

DeLaneau's names new CEO

The Board of DeLaneau has announced the appointment of David Goutenmacher, known in the watch industry as Mr. David Gouten, as Chief Executive Officer. David is a prominent figure in the watchmaking industry, has extensive experience and knowledge, as well as strong management expertise within the high-end watchmaking segment. Having led a watchmaking manufacture in Neuchâtel for four successful years, in 2001 David joined Harry Winston and served as Vice President of Sales for ten years. DeLaneau's Board welcomes David to this new role and is confident he will be able to develop the growth of DeLaneau worldwide and provide it with exceptional guidance.

The Aiguille d'Or Grand Prix awarded to De Bethune for the DB28 Watch

Mid-way between the DBS and the model developed exclusively by De Bethune for Only Watch 2009, the DB28 strikes the perfect balance between the know-how cultivated by the Manufacture and its horological innovations. The design of the watch is entirely in line with existing creations by De Bethune: the dedicated shape of the case adorned with its famous crown at 12 o’clock, inspired by pocket-watches and emphasized by the spherical moon, is a set of distinctive traits characterizing the contemporary aesthetic of the Manufacture. The dial serves as a window onto the movement, revealing the refined craftsmanship of the hand-executed finishes developed in the De Bethune workshops.

Product Launch

Cartier launches the “Trinity Pearls" Collection

Cartier is delighted to announce the Worldwide Premiere Launch in the Middle East of its latest unique creations. Today the House of Cartier is giving a whole new dimension to the Trinity creations as a truly contemporary and timeless line with the all new “Trinity Pearls” collection. Trinity Pearls is a delicate new collection that mixes three tones of pearls in punctuation with the Trinity pattern. Three freshwater pearl colors: pink, white and yellow, produced in the southern seas, reminding us of the three color-gold of the Trinity pattern. Two magnificent and exceptional gold pearls from the southern seas illuminate the collection, where designs ranging from classic up to highly breathtaking style, with Cartier’s eternal creative twist.

Ahmed Seddiqi & Sons offers Chopard Happy Mickey Watch

The evocative, lovable ‘Happy Mickey’ collection, the new diamond-encrusted collection exudes an element of fun and draws its inspiration from ‘Mickey Mouse’ the classic, iconic cartoon character created in 1928 by Walt Disney. This ‘Happy Mickey’ collection fuses and represents the finest in the worlds of entertainment, elite watches and fine jewellery. The Mickey Mouse watch is available on 30 mm and 36 mm. It is in stainless steel with a diamond-set bezel and mother-of-pearl dial with a Mickey Mouse design. The model is water resistant to 30 metres and is empowered by a quartz movement. The timepiece is available at select Ahmed Seddiqi & Sons outlets and Chopard boutiques.

Hublot unveils the Big Bang Chrono Tourbillon Ferrari in Guangzhou

To celebrate the legendary alliance between Hublot and Ferrari, Hublot is proud to unveil in Guangzhou the first genuine Ferrari-Stamped Hublot watch – a pure collectors’ item of just 20 pieces - in reference to the 20th anniversary of the first Ferrari in China: the Big Bang Chrono Tourbillon Ferrari. It is also a sort of special preview – in exclusivity in China - for the new Ferrari-stamped watch series that will be unveiled by Hublot at the 2012 Basel Fair. Hublot has announced at this year’s Guangzhou International Auto Show, that the brand has become the watchmaking partner of Ferrari. This is no simple agreement for creating a tie-in product, for licensing or sponsorship. It is a comprehensive agreement covering the full range of activities in terms of brand image and commercial activities.

Dhamani Jewels launches Million Dollar Hat

Dhamani Jewels has created a million-dollar hat for Dubai’s racing season. The black colored straw and silk hat is covered with natural fancy colored Diamonds – from intense Pink diamonds to light Pink diamonds and fancy Yellow diamonds. Also encrusted are Champagne colored diamonds and fancy light Yellow diamonds. The beautiful combination of rare colored diamonds creates a spectacular array of colors, adding more glamour to the racing season. The hat was on display at a high profile evening hosted by Dhamani for its exclusive customers and business partners at Almas Tower in Dubai. Dhamani also displayed their latest collection of exquisitely crafted diamonds and colored gemstones jewellery at the event.

Montegrappa launches the ‘UAE National Day’ Limited Edition Pens

Montegrappa has revealed its new Limited Edition pens dedicated to the UAE National Day at a media conference held at the Westin Mina Seyahi Beach Resort and Marina, Dubai, and attended by Mr. Giuseppe Aquila, CEO of Montegrappa Italia and also by Dr. Ahmed Al Banna, Member of Judicial Rent Committee - Government of Dubai (from 2003 to present) and  Board Member in the Arab Union for International Exhibitions &Conferences (AUIEC) and Assistant Secretary General for Media (from 1999 to present),who graced the event by attending and sharing some thoughts on the main achievements of the UAE throughout the 40 years of unification. In special recognition of this special 40th Anniversary, Montegrappa has made a further 40 sets of roller ball pens with matching cufflinks in Sterling silver.

Versace launches DV One Cruise Collection

Versace has launched a new version of the DV One Cruise available in six different versions. The new line is characterized by mix and match materials, bold colors and a pop mood. With their exclusive spirit and instantly recognizable look, the new chronographs are inspired by the DV One Cruise limited edition. A high-tech XL ceramic case, precise quartz movement, an enamelled dial and a leather strap are the features shared by these new watches, expanding the DV One line with their ever-changing color effects falling somewhere between simplicity and glamour.

Horological Machine No4: Razzle Dazzle & Double Trouble

MB&F has presented the Horological Machine N^o4: Razzle Dazzle & Double Trouble. Razzle Dazzle and Double Trouble’s authentic vintage accoutrements adorn a thoroughly modern, state-of-the-art Horological Machine featuring a 311-component, in-house movement developed specifically and exclusively for the Thunderbolt. To transform an opaque solid block of sapphire crystal into the sophisticated transparent curves of the central case section requires over 185 hours of machining and polishing – over four weeks’ work for that one piece. Razzle Dazzle and Double Trouble are ebullient limited editions of eight pieces each. And as each mildly subversive illustration is individually hand painted, each is unique.

DIOR Phone Touch

A pioneer in Haute Couture mobile phones, today Christian Dior is launching the new Dior phone: a compact, high-performance luxury touch telephone. Easy and intuitive navigation and the perfect measurements for slipping into even the smallest purse. With its world of pictures and sounds, the new Dior phone is a marvel of elegance and highly sophisticated, expert craftsmanship. It is adorned in sapphire crystal in the couturier’s cult colors: Glamorous Black, Dazzling Red, Pure White, and Shanghai Blue. Another of the brand’s hallmarks, the Dior oval becomes animated each time a number is dialed. An exceptional object of this kind needed a fitting setting: the case for the new Dior phone is made of supple leather, topstitched with the caning motif in a nod to Dior fine leather goods.

Exhibitions & Events

New building for BASELWORLD 2013: topmost point reached

The new building at the Basel Exhibition is visibly taking shape. The centrepiece of the new hall complex for BASELWORLD 2013 has now been erected: the 32-metre high construction over Exhibition Square. The steel structure is in place for the two exhibition storeys, both with a height of 8 metres, which are being built above the 10-metre-high "City Lounge". The building work is progressing on schedule. On the other hand, the staging of the next BASELWORLD (8 to 15 March 2012) will not be affected by the building work. The customary sectors at BASELWORLD will be retained for 2012. All the halls and hall entrances to date will be available in the same way as for previous years.

5th Edition of Indo-China Diamond Buyer Seller Meet in Beijing, 28-30 November

GJEPC is organizing the 5th Indo-China Diamond Buyer Seller Meet with support from Shanghai Diamond Exchange (SDE) at Beijing. As the Gem & Jewellery Export Promotion council attempts to find avenues to give an impetus to trade transacted by Indian gem and jewellery exporters, diversify across geographies and scale more boundaries by way of the recently concluded Indo Euro Jewellery Summit 2011, this BSM adds to the slew of attempts to bring together manufacturers and retailers of India and China. The fifth consecutive edition will see India’s leading 28 companies interact with manufacturers, wholesalers and retailers of China to develop a better mutual understanding of business and form new sourcing relationships.

Celebrity News

Uma Thurman wears Chopard at “LACMA’s Art and Film Gala”

Actress Uma Thurman selected Chopard for the Lacma Inaugural Art + Film Gala in Los Angeles. Uma Thurman looked elegant on the red carpet wearing a pair of oval and round cut diamond chandelier earrings (22 carats) set in platinum. Platinum is popular on the red carpet since it holds diamonds and colored gemstones most securely and makes them sparkle.

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