Richemont warns on profits after sales fall; UAE non-oil private sector output growth eases marginally in August; Passenger traffic at Dubai International Airport up 14% to 7.6m

Market News

Richemont warns on profits after sales fall

Richemont, which owns top global brands such as Cartier, warned recently that weak demand and restructuring costs would slash first-half profits despite a boost in UK sales from Brexit.

The world’s second-biggest luxury group forecast operating profit 45 per cent lower at the end of September, which concludes the first half of its 2016-17 fiscal year, compared to the same period last year.

UAE non-oil private sector output growth eases marginally in August

The Emirates NBD UAE Purchasing Managers’ Index (PMI) declined slightly to 54.7 in August, from a 2016 high of 55.3 in July.

Despite the marginal decline in the headline PMI, the strong performance of the UAE’s non-oil private sector recorded at the start of the third quarter was largely maintained in August.

The employment sub-index declined 1.6 points in August to just 51.3, and remains below the series average.

Passenger traffic at Dubai International Airport up 14% to 7.6m

Passenger traffic through Dubai International Airport, the world’s busiest for international travel, jumped 14% from a year earlier to a monthly record of 7.62 million people in July, the airport's operator said recently.

Growing tourism and trade ties with the rest of the Middle East, Asia and other regions of the world are fueling traffic growth at Dubai's airport.

Company News

Chopard main sponsor of the “Scandiera” Supercars Tour

Chopard has partnered with Supercars Club Arabia (SCA) for their special Europe Tour entitled “Scandiera” spread on unique destinations. As part of the tour’s attractions, this year’s participants were entitled to a special guided visit at the Chopard Manufacture in Fleurier during which they will able to discover the watchmaking process as well as the manufacture expertise of the Geneva-based Company.

F.P. Journe joins the Fondation de la Haute Horlogerie as a new brand-partner

F.P. Journe - Invenit et Fecit becomes the Fondation de la Haute Horlogerie's 26th partner-brand at the start of September, a new collaboration welcomed by Fabienne Lupo, the Foundation's Chairwoman and Managing Director. An outstanding name in watchmaking, F.P. Journe - Invenit et Fecit contributes to these projects with timepieces whose technical and aesthetic qualities are worthy of the eighteenth century's great masters.

Van Cleef & Arpels collaborates with Sheikha Wafa for Eid Al Adha

Van Cleef & Arpels honors artist Sheikha Wafa Bint Hasher Al Maktoum in an ephemeral animation of its Dubai Mall boutique facade. Sheikha Wafa Bint Hasher Al Maktoum graces the celebration of florals by offering a precious expression of the lotus through a display of infinite beauty.

Alex Benlo partnership with Martina Hingis

International female athlete Martina Hingis has accepted the role of ambassador for Alex Benlo watch.

Product Launch

Vacheron Constantin presents Traditionnelle chonograph perpetual calendar

The Vacheron Constantin Traditionnelle chronograph perpetual calendar is fitted with a hand-stitched Mississippiensis alligator leather strap secured by a 950 platinum folding clasp. The dial features various shades of grey with finishes that differ according to the functions. Standing out against a slate-coloured opaline base, the small seconds and chronograph minute counters are distinguished by a circular-brushed ring with snailed centre. The white gold moon disc is hand-finished by Vacheron Constantin.

Chaumet to launch Liens Lumiere watch collection

Chaumet Liens collection crossed ribbons flow around the dial to attach the bracelet. The Liens Lumière timepiece, in stainless steel and pink gold set with brilliant-cut diamonds, dial in sea-water mother of pearl, with 33 mm diameter case, stainless steel and pink gold strap. Lit by the radiant lustre of white mother-of-pearl and the sparkle of diamonds, the dial of the new Liens Lumière watch adorns the wrist by day and by night.

DeWitt revels new Academia Skeleton watch

DeWitt’s new Academia Skeleton watch manually wound movement is made up of 263 parts. It is housed in the new Academia case, with a diameter of 42.5 mm. The alternating rose gold and rubber serve to recreate the famous imperial columns that are a characteristic feature of the watchmaker. The total thickness of the case is only 10.3 mm. On the case back, the sapphire crystal reveals the wheels sculptured in relief, giving the movement a sense of volume and perspective.

Frederique Constant presents the new Slimline Moonphase Manufacture

The Slimline Moonphase Manufacture features a new ivory-colored dial with sunray decoration and applied silver color indexes, adding chromatic richness to an existing classic palette of tones including ivory, blue cobalt and chocolate dials. The automatic manufacture caliber, FC-705, is entirely in-house developed, in-house manufactured and in-house assembled and the strap is of black alligator.

Franck Muller unveils the Double Mystery collection

The Double Mystery collection movement is automatic and hands are replaced by two discs and the numerals by two indexes. The first index is placed on a central disc and allows the reading of the hour whereas the second index is placed on an outer disc allowing the reading of the minutes. The case is round with rose gold set with white diamonds, case back is in sapphire glass. The strap is hand-sewn orange alligator.

Tiffany East West® Automatic watch preselected in the 2016

The Grand Prix d’Horlogerie de Genève (GPHG) announces the Tiffany East West® Automatic watch has been preselected in the Petite Aiguille watch category. The Tiffany East West® Automatic timepiece has a stainless steel case and features a dial with white radial guilloché finishing and gold poudre numerals, a black alligator strap and sapphire crystal glass on both sides of the timepiece front and back. The Tiffany East West® Automatic features a self-winding mechanical movement, housed in a rectangular watch case that is set horizontally.

RAYMOND WEIL presents the new Shine collection

The shine ladies quartz collection presents beautiful watches including a diamond-set bezel model on either stainless steel or bi colour yellow gold PVD plated case and bracelet. The elegant curves of the round 32 mm steel case are in harmony with an exquisite sunburst decoration on the mother-of-pearl dial which is available with classic roman numerals or diamond faceted indexes. Each watch in the shine collection will come with two straps: a steel or bi colour bracelet and a black satin strap.

Exhibitions & Events

MidEast Watch & Jewellery show to be held at Expo Centre Sharjah

The 41st MidEast Watch & Jewellery show will bring global spotlight on the regional jewellery market and its celebrated passion for gold and diamond creations from September 27 to October 1 this year at Expo Centre Sharjah. The show will be held under the patronage of His Highness Dr. Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah.

Christie’s Dubai to open auction celebration in October

Christie’s to celebrate this important milestone in the history of an undisputed legend by offering a selection of 40 examples of the Nautilus over four auctions in four international locations. The Autumn Dubai sale season will mark the start of this celebration on 19 October 2016 at the Jumeirah Towers Hotel, followed by Geneva, Hong Kong and New York. The Dubai auction on 19October will offer the first 10 Nautilus watches, highlighted by a stainless steel Nautilus ref 3700/1.

Celebrity News

Celebrities shine in Chopard at the premiere of Nocturnal Animals in Venice

Model Eva Herzigova sparkles in a pair of earrings in gold set with diamonds. Founder and Creative Director of Eco-Age Livia Firth wears a pair of hoop earrings in white gold set with brilliant-cut diamonds and her husband Colin Firth wears his own L.U.C XPS Fairmined watch. British actress Ellie Bamber wears a rose gold pair of earrings set with colored pear-shaped diamonds, pink diamonds, yellow diamonds, brown diamonds and diamonds and a white gold bracelet set with diamonds, both from the “High Jewellery Collection”.

Ashley Greene sparkles in de GRISOGONO in Venice

American actress and model Ashley Greene graces at the Red Carpet in a black and white pair of VENTAGLIO Earrings, perfectly matching her Alberta Ferretti dress.

Gemma Arterton wears Messika at the Venice Film Festival

British actress Gemma Arterton wore a pair of ‘Daisy’ earrings from the House's iconic ‘Gatsby’ collection from Messika Jewellery at the Venice Film Festival.

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