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LVMH reports growth in first-half of 2019, including Watches & Jewelry Division; L’azurde posts 151% net profit increase in Q2 of 2019
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Market News
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LVMH reports growth in first-half of 2019, including Watches & Jewelry Division
LVMH recorded revenue up 15% over the period with solid growth in all divisions, although with slower figures for the Watches & Jewelry division. The group reports a remarkable momentum at Louis Vuitton (the brand), remarkable performance of Christian Dior Couture and rapid progress of LVMH’s perfumes and cosmetics. LVMH’s Watches (TAG Heuer, Hublot and Zenith) & Jewelry (Bvlgari and Chaumet), the group indicates “good progress in jewelry, in particular for Bvlgari“. The whole division records sales up 4% (organic) at EUR 2.135 billion over the first half of 2019. “Bvlgari made good progress in its stores and continued to gain market share,” says the group. |
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Middle East financial wealth continues to grow
Personal financial wealth in the Middle East bucked global trends, with positive returns driving a growth in overall wealth by 5.7 per cent. This pattern was consistent in the UAE with stock markets across the Arabian Peninsula experiencing a good year. Overall, the UAE is in good stead with investable wealth growth expected at 6 per cent per annum to $0.5 trillion by 2023.
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L’azurde posts 151% net profit increase in Q2 of 2019
L’azurde Jewelry Saudi Arabia reported net profit increased by 151% in the second quarter compared to the same period last year to reach SAR 12.2 million. The highest growth rate recorded by the company during the previous 9 quarters, which contributed to the increase of the Group's profits in the first half of the year by 73.8% to SAR 24.1 million. The growth in the net profit was due to the increase in the operating income of the company during the first half of 2019, which amounted to 285.8 million riyals, an increase of 37.5% and the total profit as a percentage of operating income by 2.0% as a result of cost saving in general, resulting in reduced production costs. |
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Company News
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Audemars Piguet welcomes Viktor Hovland to its Golf Family
Audemars Piguet welcomes former world number one amateur and rising star Viktor Hovland to its Golf Dream Team. The 21-year-old player from Oslo, Norway, turned professional the week after the U.S. Open, where he finished T12 and broke the championship’s 72-hole amateur scoring record. His performance at Pebble Beach gave him low amateur honours in a major for the second time this year after finishing 32nd in the Masters last April, for which he had qualified by winning the 2018 U.S. Amateur Championship. The promising talent from Norway is off to a great start into professional golf adding two T13 finishes in his first four tournaments as pro. |
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Richard Mille announces the partnership with Maria Vicente
Maria Vicente not only breaks records, she breaks them in record time! It is no surprise that she has also become the latest—and youngest—member of the Richard Mille family. Sprinting through the impressively long list of titles and trophies the young Catalan has already notched up, you have to keep reminding yourself that Maria is—still—a mere 18 years old! She is already, and by a long stretch, Spain’s best-ever female heptathlete, having broken no less than 53 Spanish records and being crowned World Champion Under 18 Heptathlon (in 2017) before striking Gold at last year’s European U-18 Championships, not to mention finding time to bring home the World Record U-18 Heptathlon. |
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Michael Kors announces launch of its digital flagship on Alibaba’s Tmall Luxury Pavilion
Michael Kors has announced that it will open its digital flagship store on Tmall, which will be featured on Tmall Luxury Pavilion, Alibaba Group’s dedicated platform for luxury and premium brands. The new online store marks the first third-party partnership for Michael Kors in China and will provide Tmall customers in China with exclusive access to special products launched only on Tmall as well as the entire range of Michael Kors women’s and men’s products. |
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Product Launch
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Bvlgari Watches introduces the Serpenti Amethyst Capsule Collection
Bvlgari has always been known for its daring use of colored gems, mixing precious and semi-precious stones in unexpected combinations. Now, Bvlgari draws on its legacy as the charismatic Roman jeweller to reimagine three of its best-known Serpenti jewelry watches. A new capsule collection reinvents three iconic Serpenti watches with the royal beauty of purple amethyst: the Serpenti Incantati, the Serpenti Scaglie and the Serpenti Misteriosi Bangle. |
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A. Lange & Sohne presents the sixth model of the anniversary collection
To mark the occasion of the 25th anniversary of the LANGE 1, it is now being presented in an exclusive 25-watch limited edition in white gold with blued steel hands. The moon stands out especially in the dark. By day, the sun usually outshines it, but even then, it accompanies us. The LANGE 1 MOON PHASE makes that visible. During the daytime, the moon is depicted against a bright blue starless sky; at night, it contrasts against the dark blue heavens with 383 sparkling stars. Thus, the moon always shows itself against a realistic background that doubles as a day/night indicator. |
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TAG Heuer launches four new Carrera Calibre 16 watches
Featuring modernised design details that build on the brand’s motor racing DNA, four new TAG Heuer Carrera Calibre 16 timepieces join the legendary collection. The new stylistic enhancements to the legendary TAG Heuer Carrera give it a more modern edge that not only improves the legibility of the dial, but also makes it ideal for everyday style – from the office to a casual weekend on the go. The revamped 41 mm TAG Heuer Carrera Calibre 16 combines performance with a sporty, distinguished appearance for a timepiece that is as functional and comfortable as it is fashionable. |
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Citizen introduces Promaster Aqualand Diver’s Watch
This year, CITIZEN has unveiled another collection for diving aficionados, Promaster Aqualand Collection. The watch is built with enhanced Eco Drive Light Powered technology, which is the ability to recharge watches using any natural or artificial light source. With maximum depth memory, rapid ascent alarm, auto start dive mode and power reserve indicator, the model is certified to withstand water up to a depth of 200 metres and is designed to endure in the most extreme conditions. |
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