Market Report

Audemars Piguet: Ahead of time

Prestigious Swiss luxury watchmaker Audemars Piguet has a number of feathers in its cap and is known for producing some of the very complex watches. For instance, it pioneered the smallest minute repeater and a jumping second hand pocket watches. Nicolas Garzouzi, Chief Executive Officer of Audemars Piguet for the Middle East, talks to Arabian Watches & Jewellery Magazine with regard to the Audemars Piguet’s participation in the Salon International de la Haute Horlogerie (SIHH) exhibition being held from January 16 to 20 in Geneva, Switzerland. Garzouzi emphasized that the company is concentrating on improving the quality of its distribution network instead of generating figures. Excerpts from the interview:

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

More than 75 per cent of yearly orders are generated at SIHH.

What are your expectations at SIHH 2012?

We expect a very strong and positive response at SIHH as we are celebrating the 40^th anniversary of our iconic Royal Oak.

What would be trends and directions of Audemars Piguet watches in 2012?

We will concentrate on Royal Oak brand with technical innovations in terms of movement, material and new sizes.

When will the latest Audemars Piguet watches be available in the Middle East boutiques?

Most of the novelties will be available before summer 2012 - same as the rest of Audemars Piguet boutiques around the world.

What are the challenges under the current economic circumstances?

We are therefore concentrating more on improving the quality of our distribution network instead of generating figures.

Van Cleef & Arpels – A symbol of luck and prosperity

Van Cleef & Arpels offers a unique savoir-faire in high jewellery and watchmaking and a guaranteed long-term value, says its Middle East & India Brand Director, Alban Belloir. French jewellery, watch, and perfume company is also making its presence felt at the Salon International de la Haute Horlogerie (SIHH) exhibition on Geneva, Switzerland. Belloir says Van Cleef & Arpels’s watches are full of emotion, tell a story and invite us into a dreamlike world. Below is his interview with Arabian Watches & Jewellery Magazine.
 

What impact will SIHH have on a premium brand such as Van Cleef & Arpels?

SIHH is an opportunity to enhance its unique positioning within the high watchmaking segment, highlighting the Maison's mastery in terms of "Metiers d'Arts" and reveal its latest timepieces creations to editors and commercial partners in the Middle East.

What are your expectations at SIHH 2012?

SIHH 2012 will be the occasion to reveal a new chapter of "The Poetry of Time" by Van Cleef & Arpels, Poetic Wish and a new contemporary interpretation of a timepiece icon for men, Pierre Arpels, which is part of the Maison's watchmaking heritage. We expect it to further strengthen our legitimacy within the high watchmaking segment.

What would be trends and directions in 2012?

Rather than following trends, Van Cleef & Arpels’s Poetry of Time creates watches that are full of emotion, tell a story and invite us into a dreamlike world. They take the measure of time while telling a story.

What ‘star’ novelties will you unveil at SIHH?

The first ‘star’ novelty will be Poetic Wish, the reference in Poetic Complications: The Lady Arpels Poetic Wish timepiece, for women and Midnight Poetic Wish timepiece, for men. The two Poetic Wish watches are time-keeping masterpieces. With them, the Maison once again pushes the limits of technical prowess.

The Poetic Wish movement indicates the hour and the minutes thanks to a ‘poetic animation’ and a 5-minute repeater mechanism. These exclusive timepieces offer the chance for the wearer or the giver to make a wish, no matter how secret. We will also reveal the new Pierre Arpels watch for men, a contemporary interpretation of the iconic timepiece created in 1949 by Pierre Arpels. It is the symbol of a discreet and sophisticated elegance. Finally, we will present a new addition to our Alhambra collection, Alhambra Talisman, featuring the iconic motif of Van Cleef & Arpels.

When will these new launches be available in the Middle East?

Pierre Arpels will be available in September 2012; while Alhambra Talisman and Poetic Wish will go on display in showrooms in the Middle East in October 2012.

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

Among our exclusive timepieces, Poetic Complications (Pont des Amoureux, Une Journee A Paris, Lady Arpels Feerie) are the most sought-after Van Cleef & Arpels watches in the Middle East because of their unique designs, complications and stories. Among our iconic timepieces, Charms is the most popular one because of its feminine and elegant design, as well as its link with our Alhambra iconic collection (Alhambra charm), a symbol of luck, health, prosperity and true love.

What are the major challenges in the current economic circumstances?

Our main challenge is to meet the fast-growing demand for our timepiece creations from all over the world - including the Middle East. In the world of uncertainty and volatility, our clients look for Maisons of heritage and tradition. Van Cleef & Arpels offers a unique savoir-faire in high jewellery and watchmaking and a guaranteed long-term value. Purchasing a Van Cleef & Arpels timepiece is at the same time a choice of passion and reason.

Ralph Lauren’s iconic inspirations

Ralph Lauren intends to capitalize on 22^nd edition of Salon International de la Haute Horlogerie (SIHH) in order to reinforce the brand’s unique DNA by expanding its three collections. For Ralph Lauren Watches, distribution has always been very selective, so it works with only the top and well-positioned retailers, allowing the match maker to build strong and long-term partnerships. At SIHH 2012, Ralph Lauren will focus on the brand’s iconic inspirations: The equestrian style of the Stirrup, the Art Deco influence in the Slim Classique and Ralph Lauren 867 watches, and the automotive world for the Sporting. Below are the company’s plans for SIHH

What kind of impact will SIHH have on a premium brand such as yours in the Middle East?

SIHH helps us raise awareness and reinforce the brand image by showcasing our products in an exceptional environment to a prestigious audience of the world’s top retailers and journalists. This exhibition debuts our annual novelties and really sets the stage for the coming year, both in the Middle East and our other key markets globally.

What are your targets at SIHH 2012?

The objective for this year is to diversify the three collections and also reinforce the brand’s unique DNA. We will continue to complement the existing range with timepieces that respect the tradition of fine watchmaking matched with Ralph Lauren’s unique and timeless aesthetic. At SIHH 2012, we will focus on the brand’s iconic inspirations: The equestrian style of the Stirrup, the Art Deco influence in the Slim Classique and Ralph Lauren 867 watches, and the automotive world for the Sporting.

What’ll be trends and directions in 2012? Any particular trend that your brand is particular keen on in terms of movement and or designs?

We have observed in these times that people are returning to fundamentals – seeking classic yet unique watches with the essential functions, quality, authenticity and a style that endures. These values can be reinterpreted through Art Deco influences, focusing on precious materials, simplicity and clean lines – making for an elegant watch with a genuine yet contemporary presence. These are timeless ideals that are as much sought-after today as they ever were.

What ‘star’ novelties will you introduce at the SIHH?

This year we are focusing on one of Ralph Lauren’s iconic inspirations: The Art Deco era. This inspiration celebrates clean lines, luxurious materials and elegance – design elements that have long been a part of the Ralph Lauren sensibility, and are also especially relevant for watches. The new Ralph Lauren 867 watches highlight this Art Deco style, with timepieces of traditional proportions that combine bold geometry, meticulous craftsmanship, elegant diamond embellishments and sleek silhouettes.

When will SIHH novelties be available at boutiques in the Middle East?

Deliveries of the SIHH 2012 watches will begin in early spring.

Which of Ralph Lauren’s models are the most popular in the Middle East and Why?

The sell-out of the three lines has been balanced and proportional with our collection architecture – with about half of sales coming from the Stirrup models and the other half shared between Slim Classique and Sporting. However, we have seen that in the Middle East customers are attracted to more diamond-set pieces – especially from the Stirrup collection featuring the brand’s iconic signature equestrian design.

What are the challenges under the current global and regional economical circumstances?

While crises are challenging periods they also generate opportunities by pushing markets and players to develop their creativity and reactivity. In terms of distribution, while in the past issues such as over-inventory, cashflow and over-distribution affected the watch retailer sector, today the situation is improving. Overall brands in the industry have been more vigilant, leading retailers to increase the quality of their environment and practices. For Ralph Lauren Watches, our distribution has always been very selective, so we work with only the top and well-positioned retailers. This allows us to build strong and long-term partnerships in the best interest for both our brand and their business.

Geographically speaking, the challenges industry is facing in some markets have been balanced by strong growth in Asia and the importance of international travellers from emerging markets and also the Middle East. While our watches appeal to existing Ralph Lauren ‘aficionados’ there is also a captive audience that is new to the brand – ‘watch connoisseurs’ and ‘art/design aesthetes’ attracted to Ralph Lauren timepieces for their fine craftsmanship and unique style. This is an overall trend observed across the globe, and especially in international cities.

Baume & Mercier: Best & Modern

Swiss luxury watchmaker Baume & Mercier is enthusiastic and excited about the upcoming Salon International de la Haute Horlogerie (SIHH) to showcase its novel and innovative designs for both men and women. In an exclusive interview with Arabian Watches & Jewellery Magazine, Romain Dezaux, ME Brand Manager for Baume & Mercier, reveals that 2012 is the year to demonstrate the Baume & Mercier innovations and novelties. Below are excerpts from the interview:

What kind of impact does SIHH have on a premium brand such as yours in the Middle East?

SIHH is for Baume & Mercier each year a privileged opportunity to meet our key partners (retailers and journalists) in the Middle East during a professional fair that is exclusively dedicated to them. It allows us to review the past year and talk about the upcoming projects planned in our region. SIHH has a solid impact and is our main communication platform of the year to highlight our novelties and brand know-how and expertise.

What are your expectations at SIHH 2012?

We have three main goals: Reinforce our partnerships in the region; consolidate our new brand territory being embodied by our claim ‘Life is about moments’; and showcase the Baume & Mercier innovations and novelties for 2012.

What are the foreseen trends and directions with watches in 2012? Any particular trends that your brand is particular keen to show in terms of movement and designs?

For men, key movements are manual and automatic, and for women, automatic movements will take a more prominent position in the market, as opposed to the standard quartz movement usually found in women’s watches. Ladies are becoming more and more concerned with what is inside their watches, and not only the outer case; they are becoming more interested in movements.

In terms of design, classic pieces for men are the reference point, and for women, more bright and uplighting colours. Combining style with comfort and modernity with classicism is becoming more important. Watch models for 2012 not only need to be comfortable, worn with ease, in line with current fashions, but also, timeless. This timelessness is what drives the success of a new line, and ensures ever-lasting presence of the brand. A watch should become part of you, be a discreet style statement and not an over-powering accessory. Subtle elegance is always a winner.

Red gold is an important trend in 2012 as well. The material is very elegant, and its warm tones embody a more contemporary spirit than the previously wider seen yellow gold. For us, the use of red gold has a particular meaning and reflects the warm feeling of ‘seaside living’, our brand environment, into the design of our new watches. It recalls the colour of the sand and the stylish teakwood decks of the Hamptons houses.

What are your ‘star’ novelties for the SIHH?

We will be reinforcing our Linea and Capeland collections with new watches that will meet the particular demands from our regional market.

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

The good news is that most of our novelties will be available for our clients in the Middle East in April/May 2012.

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

From the beginning Linea has been cherished by women - thanks to its iconic standing as an expression of modernity, glamour and confident luxury, with soft lines and sensual curves that epitomises femininity. The collection’s hallmark is the interchangeable bracelet design principle whereby the wearer can change the strap to suit her mood or style.

The Capeland - our chronograph of authentic moments that epitomises seaside living, relaxed lifestyle, authenticity and strength of character - encountered in the region a success beyond our expectations. The watches enjoy a modern sport-chic design, retro accents and warm tones, a harmony between design and comfort.

Also, the new Hampton collection with its rectangular case for both men and women is a promising line which has been well received since its recent launch in September 2011. 

What are the challenges that you are facing as watchmaker in the current global and regional economic scenario?

With the regional market reaching from Turkey to India - including GCC, we face the challenge of dealing with complex and multicultural consumer expectations when it comes to watches on a daily basis. Saying that, we have faced great successes this year with the launch of the new Hampton collection and the opening of our only boutique in the world in The Dubai Mall. The regional and global notion of The Dubai Mall as a premium shopping destination has strengthened our brand awareness and the inviting Seaside Living concept of the boutique offers great recognition.

Market News

Tiffany & Co. posts worldwide sales up by 7 percent

Tiffany & Co. has recently announced that worldwide net sales for the two months ended December 31, 2011 increased by 7 percent over the same period in 2010 to $952 million. This growth was fuelled by double-digit sales growth in Asia-Pacific and Japan with a significant one digit increase in the Americas and Europe. In the Americas (US, Canada and Latin America) sales rose by 4 percent to $503 million. Sales in the Asia-Pacific region increased by 19 percent to $165 million while in Japan sales increased by 13 percent to $160 million. Total sales in Europe increased 1 percent to $117 million.

Swiss central bank expects $13.7 billion profit

According to the Swiss National Bank it expects to earn a profit of roughly 13 billion francs ($13.7 billion) for 2011 due mainly to the rise in the value of its gold and foreign currency holdings. The gain of 5 billion francs in gold holdings and 8 billion francs in foreign currency positions is a major reversal from 2010 when the central bank lost 20.7 billion francs trying to stem the soaring value of its franc. It also provides a bit of respite for the bank, which earlier this week accepted the resignation of chairman Philipp Hildebrand following revelations over his wife's currency dealings. The central bank said Friday it will distribute 1 billion francs of the windfall among the federal government and 26 cantons (states), as is required, and put the remainder in its reserves.

Company News

Mouawad to sponsor World Champion Powerboat Racer

Mr. Fred Mouawad and Mr. Pascal Mouawad, Co-Guardians of Mouawad will have a press conference for the announcement of the sponsorship agreement with Mr. Omar Danial, a four-time offshore powerboat world champion, and Mr. Gary Ballough, co-pilot of the team, competing in the 2012 XCAT Middle East Powerboat Series today, 19 January 2012 at Dubai International Marine Club – Briefing Room. Future plans of the company in the Middle East will also be discussed at the press conference.

X Fathoms Exhibition opens at the Cite du Temps in Geneva

The Swiss premiere presentation of the new X Fathoms has opened at the Cite du Temps located on the Pont de la Machine Bridge spanning the Rhone River. First unveiled at the Dubai aquarium in October 2011, this diver’s watch revisits the iconic characteristics of its Fifty Fathoms forerunner, and combines them with a mechanical depth gauge to create the most high-performance mechanical watch of all time. Bursting with world-first features such as depth measurement to 90 metres and maximum depth reached memory, separate display for the 0-15 m zone with exceptional +/- 30 cm precision, and a 5-minute retrograde counter for decompression stops, this model eloquently demonstrates the innovative ability of the Manufacture from Le Brassus. The presentation is from January 16 to February 12, 2012.

Blacksand opens its workshop in Geneva

Blacksand Geneve is pleased to announce the opening of its 200m2 workshops located in the heart of Carouge, district of Geneva. The right occasion to present the first in-house developed Blacksand chronograph caliber that will be officially launched during BASELWORLD 2012.

GJEPC announces the formation of Gem & Jewellery Skill Council of India

The Gem & Jewellery Export Promotion Council (GJEPC) is pleased to announce the formation of Gem & Jewellery Skill Council of India (GJSCI) for enhancing and upgrading of skills in the gem &jewellery sector. GJSCI will be a joint venture of GJEPC, Gem & Jewellery Federation (GJF), Seepz Gems and Jewellery Manufacturers' Assocation (SGJMA) & Jewellers Association of Jaipur (JJA) and promoted under the aegis of NSDC. GJSCI is one of many Sector Skill Councils that NSDC is setting up in association with industry. NSDC's objective is to create 500 million skilled workers in India by 2022. GJSCI will have on its governing council, 11 directors from industry and 2 from the government.

Product Launch

Ahmed Seddiqi & Sons presents its Valentine's collections

To mark the season of love and acknowledge that special someone in your life, Ahmed Seddiqi & Sons will be carrying a unique range of love inspired Gc watches and Guess jewellery. The special edition ‘Gc MiniChic Heart 2 Heart’ watch has been exclusively designed to reflect the celebration of love and is encrusted with two ruby-set hearts placed side by side on an iridescent mother-of-pearl dial and polished steel case and link bracelet. Sprinkled with diamonds, the new ‘Gc MiniChic Diamond’ watch is an unforgettable symbol of eternal love and timeless elegance. With a shimmering mother-of-pearl dial and brilliant cut diamonds adding a sparkle and sweet innocence, it is now easy to say “Be my valentine” though this beautiful timepiece. In addition to the Gc timepieces, an extensive range of GUESS bracelets that can be mixed, matched, and layered together to make a bold and unforgettable statement.

Carl F. Bucher unveils its PreBasel models

At Baselworld 2012, Carl F. Bucherer will present a further model from the Patravi family with a round case. The appeal of the Patravi DayDate, which indicates the current day of the week as well as the big date, lies not only in the Carl F. Bucherer-specific CFB A1001 functional module but also in the striking exterior of this model. In addition, the brand will also present the Patravi TravelTec FourX featuring a new dimension: 1 watch, 3 time zones, and 4 materials. Titanium, ceramic and rubber: with the Patravi TravelTec FourX, time takes on a new material format. These selected materials, together with 18 K rose gold, make the latest watch creation Patravi collection a real talking point among watch enthusiasts.

Chopardissimo Collection

Chopardissimo: a name that single-handedly sums up the essence of this collection. The heart, a theme cherished by Chopard, is a recurrent leitmotif. This symbol of love has been fashioned like a dancing drop bead, lending a lively and playful dimension to the bracelets, rings, earrings and pendants in the collection. Pendants, rings, bracelets and earrings are interpreted in yellow, rose and white gold variations, thus facilitating perfect mixing and matching of the jewellery pieces. This game of multiple combinations can be taken to extremes when the multi-coloured rings are layered or when the bracelets are associated to create a fascinating dance. However they are worn, either alone or in compositions, a model from the Chopardissimo collection will remain a precious object that is as much a classic piece of jewellery as an enduring fashionable accessory.

Hermes introduces Arceau Marqueterie de Paille

Hermes has introduced two new versions of the Arceau watch, originally created by Henri d’Origny in 1978. They feature the model’s signature asymmetrical lugs: their shape, designed as if to allow a stirrup leather to slide through it, evokes the Hermes saddle-making world. Nonetheless, the distinctive italic typeface of the Arceau hour-markers has vanished so as to give pride of place to the exceptional straw marquetry graving the dial. The blue and black motifs, framed by the 41 mm-diameter white gold watch case, depict two iconic Hermes tie patterns featuring chevrons and tiny squares. Equipped with mechanical self-winding Calibre H1928 by the Manufacture Vaucher exclusively for Hermes, these two models are endowed with a 55-hour power reserve. A matt indigo blue alligator strap matches the colors of the straw dial.

Clerc launches Hydroscaph Steel GMT

The new Hydroscaph Steel GMT (HY-SL-GMT-114) features several case options: in polished steel, blackened steel or two-tone steel and 18K red gold. The iconic Hydroscaph style signature, its octagonal case shape based on a perfect square combined with a perfect circle, is spectacularly highlighted in this generously sized 49.6mm model equipped with lugs that ideally adjust to all wrist sizes and shapes and even over a diving suit. The rotating bezel in steel or 18K gold according to the version pivots thanks to a retractable flap on a crown integrated into the case middle at 2 o’clock. Returning the flap to its initial position securely locks the bezel, thus avoiding any risk of accidental deregulation while diving.

Celebrity News

Jessica Chastain and Kirsten Dunst wear Harry Winston Jewels

During the National Board of Review of Motion Pictures Awards Ceremony, Jessica Chastain wears stunning Harry Winston Rubies. The event was held on 12 January 2012 in New York. In addition, Kirsten Dunst dazzles the Red-Carpet in Harry Winston at the 17th Annual Critics’ Choice Movie Awards in Hollywood, California wearing Harry Winston earrings and bracelet.

Berenice Bejo and Emma Roberts chose Chopard

Award-winning actress Berenice Bejo looked stunning on the red carpet wearing a pair of Chopard white diamond hoop earrings during the New York Film Critics Circle Awards on 9^th January 2012. On the other event, Emma Roberts looked chic on the red carpet wearing a pair of diamond cluster earrings, stacked emerald-cut diamond cuff and marquise-cut diamond cuff, and rose-cut diamond cocktail ring, all set in platinum during the  13th Annual InStyle Golden Globes After Party on 15^th January 2012.

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