Interviews

Exclusive interview with Mr. Pascal Raffy, Owner of Bovet Fluerier SA

Bovet Fleurier SA, the luxurious Swiss brand famous for its supremacy in the decorative arts of watchmaking is successfully innovating in perfect harmony with its tradition celebrating its 190 anniversary this year. In this interview, Mr. Pascal Raffy, owner of Bovet Fleurier SA talks about his passion to sustain the skills inherent in the art of watchmaking and continue to manufacture timepieces that will fire the passion and curiosity of the future generations.

Nearly all Bovet watches honor the heritage of Swiss watchmaking. Why do you insist on this commitment?

Because it is precisely here that we find the true essence of the House of BOVET, whose 190th anniversary we celebrate this year. Genuine luxury is above all a question of education. It can only be magnified if it is manufactured to the highest quality and in discretionary quantities. Bovet timepieces reinforce these criteria indispensable to the most beautiful expression of time, thanks to our incredible wealth of techniques and decorative arts. This unrivalled expertise is the legacy of pioneers who, like Edouard Bovet, laid the foundations of luxury watchmaking. With the prestigious history of the House of BOVET and my passion as a collector, I naturally feel it is my duty to sustain the skills inherent in the art of watchmaking, to continue to manufacture timepieces that will fire the passion and curiosity of future generations.

How do you protect the ethos and DNA of Bovet in a modern world of fast changing preferences and shifting lifestyles?

BOVET’s identity is based on the manufacture of timepieces that magnify the arts of watchmaking. Beyond fashion trends, which by their very nature are ephemeral, our watchmaking art is increasingly respected for the authentic values and the cultural dimension it conveys among an ever growing body of collectors.

How would you describe Bovet’s performance in the Middle East?

The Middle East is one of the regions where the history of our House began. Historically, Edouard Bovet delivered his first timepieces to China. However the Middle East was already an important breeding ground for collectors for whom Edouard Bovet manufactured specific timepieces, as witnessed by certain pieces in our private historic collection. For our House to have received such a welcome in the Middle East over the decades is scarcely surprising when you consider that it was here that the basic sciences of measuring time had their origins, namely mathematics and astronomy, themselves closely bound up with the artistic dimension.

Several Swiss watch brands are focusing on the younger generation by launching collections dedicated to them. Where does Bovet stand in this respect?

BOVET owes its enduring existence to the fact that it has continually manufactured timepieces according to time-honored rules, taking infinite care over the smallest details. The idea has never been to manufacture a timepiece that will supposedly please a particular segment of the population at a given point in time. The philosophy of the House of BOVET is above all to attain excellence in each and every one of its creations.

It is the informed collector’s understanding of BOVET’s exceptional mastery of watchmaking skills that leads him to respect the emotions they convey, allowing the House of BOVET to serenely celebrate its 190th anniversary.

What are the current and future challenges facing BOVET as an independent watch manufacturer?

To see through the policy of vertical integration of our production. I have set the wheels in motion ten years ago when I acquired BOVET and subsequently Les Manufactures DIMIER. Our desire is to sustain the art of watchmaking so that prestige timepieces can continue to enchant collectors for many decades to come.

Market News

Richemont posts strong jewelry (32%) and watch sales (31%) growth

Richemont Group has announced its financial results for the year ending March 31 2012, with its sales of jewelry and watches up 32 and 31 percent respectively. Sales in the company’s Jewellery Maisons group totaled $5.83 billion in the 12-month period ended March 31, compared to $4.42 billion in the prior-year period. Cartier and Van Cleef and Arpels performed “exceptionally well” the company said, noting that there was demand for both high-end and more accessible collections. Sales for the company’s Specialist Watchmakers - Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Sohne and Roger Dubuis has reached $2.95 billion, up from $2.25 billion last year, with all brands showing sales growth. Globally, Richemont’s total sales increased 29 percent to $11.29 billion. Profits jumped 43 percent to $1.96 billion. Gross margin held steady year-over-year at 64 percent.

Breguet acquires two Antique Watches for a record price of nearly 7 million Swiss Francs

On 14^th of May, Breguet has acquired two exceptional watches that made their mark on Fine Watchmaking history, for a record of nearly 7 million Swiss francs. Bought at a Christie’s auction in Geneva, these masterpieces are the most expensive ever purchased in Breguet’s history and the costliest Breguet antique watches ever sold at auction to date. The first watch, no. 2667 dating from 1814, went for the unequalled price of over 4 million Swiss francs. This thin pocket watch with two movements is based on the chronometer principle (resonance). The second antique piece, no. 4111, is a flat equation-of-time and repeater watch, built on the chronometer principle. It repeats hours, half-hours, quarter-hours, and half-quarters. This “Grande Complication” watch dates from 1827 and purchased for more than 2.5 million Swiss francs.

Sotheby’s Geneva Magnificent Jewels and Noble Jewels sale set new world record

Sotheby’s Geneva has set a new world record of $108,377,219 for a various owner jewellery sale, with the conclusion of its two-day Magnificent Jewels and Noble Jewels Sale, surpassing the record set by Sotheby’s Geneva in November 2010 of $105 million. Over the two days 24 lots sold for over $1 million. The Beau Sancy, one of the most important royal diamonds to ever come to auction, sold for CHF 9,042,500 ($9,699,618). The result achieved by the celebrated jewel brought the total for the May Jewellery auctions to an outstanding total of CHF 104,298,625 ($111,836,526), almost doubling the pre-sale low estimate of CHF 54 -85 million.

Dubai GDP to increase by 4 to 5 percent in 2012

The emirate’s real gross domestic product (GDP) is forecasted to expand between 4 to 5 percent during the current year, said Dubai Economic Council. It said that even though all sectors will contribute to this year's growth, however, trade and other non-hydrocarbon sectors will record notable expansions during the aforementioned period. The trade, tourism and industry, in addition to other key sectors attribute 96 percent of the emirate's GDP. It is worth noting that Dubai's real GDP in 2011 grew 3 percent.

Kuwaiti banks receives “good” ratings from credit rating agencies

According to the former Central Bank of Kuwait (CBK) governor, Sheikh Salem Abdulaziz Al-Sabah, International credit rating agencies gave most of Kuwaiti banks "good" ratings in comparison with banks in the Middle East and North Africa. He also said that Kuwaiti banks were capable of confronting difficult conditions related to work environments thus maintaining solid capitals used to confront "powerful shocks in addition to enjoying high levels of liquidity." Profits of most of Kuwaiti banks are relative good amidst ongoing circumstances. Hamad Al-Marzouq, chairman of the Kuwaiti banks union, praised Sheikh Salem for his service and his contribution to strengthening financial and monetary stability in Kuwait.

Company News

Cartier to celebrate the grand opening ot its newest boutique in Abu Dhabi today

Cartier, “King of Jewelers, Jeweler of Kings” to celebrate the grand opening of its new flagship boutique in Abu Dhabi officially on May 22, 2012. The House of Cartier welcomes a new addition to its global flagship stores line up, choosing the Emirates capital Abu Dhabi, Etihad Towers, located on the Corniche road, as its latest prestigious location. A historical exhibition “Tiaras & Royalties” will open its doors on the same day commemorating 165 years of Cartier’s history since it established its name as the most prestigious jeweller in the world, becoming supplier to many Royal Courts around the world. The exhibition will be taking place from the 22^nd of May to the 15^th of June, 2012, at the Cartier Boutique, Abu Dhabi’s Etihad Towers.

Chopard, official partner of the Cannes Film Festival for the 15th consecutive year

Since 1998, Chopard has been enjoying an ongoing love story with the Cannes Film Festival. The love story began when the President of the Festival asked Caroline Scheufele, Co-President and Artistic Director of Chopard, to redesign the Palme d’Or. Ever since, through adorning the stars for the famous mounting of the red-carpeted staircase, rewarding young film industry talents, and holding some of the most popular events of the festival fortnight, Chopard has become an emblematic actor in the world’s most glittering and glamorous movie celebration. Renowned for its original and refined jewellery creations that highlight feminine beauty, Chopard is a recurrent sight on red carpets. In 2012, Chopard will be celebrating its 15^th year as official partner of the Cannes Film Festival.

A. Lange & Sohne – New models stop in Dubai

Following a successful launch at the Salon International de la Haute Horlogerie (SIHH) at the beginning of the year, A. Lange & Sohne’s new models have been on a tour across the Saxon luxury watch brand’s global boutiques. Journalists and a handful of collectors alike in Dubai were the first in the region to experience the latest highlights of Lange’s watchmaking artistry. The 2012 collection, an ideal expression of A. Lange & Sohne’s constant quest for perfection, was received with great enthusiasm during the Middle East premiere. Technical expertise combined with contemporary originality and an unmatched level of craftsmanship defines A. Lange & Sohne’s ever-lasting commitment: to build “the world’s finest watches”. A. Lange & Sohne’s coveted timepieces can be acquired in only 57 countries across the world.

Baume & Mercier showcases timepieces at The Wedding Fair in Dubai

Reaffirming its standing as a partner for special moments, Baume & Mercier showcased a selection of stunning 2012 novelties at The Wedding Fair - Westin Dubai Mina Seyahi, which took place from 11-12 May 2012.  Being held for the fourth consecutive year, The Wedding Fair is one of the regions most luxurious, and offered a unique and fitting platform from which to highlight Baume & Mercier’s commitment to being a timekeeper of lasting memories and remaining true to the brand’s motto, ‘Life is about Moments’. The newly revamped Hampton line offers pieces for both men and women, available in special duo sets for the first time; it is the ultimate collection for couples. Combining a relaxed style with the finest craftsmanship, the collection perfectly embodies seaside living and a timeless lifestyle of sophistication and simplicity.

Blancpain achieved an excellent auction in support to Monaco Association Against Muscular Dystrophy

Blancpain, classicdriver.com and RM Auctions are proud to announce the sale of Lamborghini Gallardo LP600 GT3 raced by winner Blancpain President & CEO Marc A. Hayek during 2011 Amateur-Class championship ADAC GT Masters Series for 155’000 euro. 100 percent of proceeds from the vehicle’s sale, including auction commissions, will be donated to the Monaco Association Against Muscular Dystrophy (AMM) in its fight against Duchenne muscular dystrophy. Blancpain is supporting AMM action together with His Serene Highness Prince Albert II of Monaco « Helping every child, teenager, and young adult affected with Duchenne muscular dystrophy is what we all aim for. Since over a decade, Blancpain has constantly supported the Association and renewed its commitment to this cause.

Faberge opens its first boutique in New York

With the much-anticipated opening of its first New York boutique, located at 694 Madison Avenue, Faberge launches a new chapter in its geographic repertoire. The jewel-like boutique, intimate, inviting, a haven of luxury, is designed to balance opulence and modernity, in contemporary Faberge style. In the spirit of the spectacular flagship in Geneva, the Madison Avenue store is decorated in exquisite materials, silk curtains and wall panels, brushed oak flooring, painted wood accents, in a soft, sensual palette of grey and silver, punctuated with a rich purple button-backed wall, subtly evoking Romanov splendour. The striking facade of the boutique, a champagne colored lattice, is inspired by the Coronation Egg, one of the legendary Imperial Easter eggs created by Peter Carl Faberge in 1897, in celebration of the coronation of Tsar Nicholas II. The new 850 square foot boutique will house Faberge High and Fine Jewellery, Handmade Timepieces, Cufflinks, and Silver collections.

Product Launch

Van Cleef & Arpels presents the Couleurs de Paradis™

Birds, one of the Maison’s favourite inspirations for over one hundred years, are at the heart of the new Couleurs de Paradis™ collection. Precious and hard stones celebrate the harmonious beauty of these winged creatures. This year, the Van Cleef & Arpels pursues the inspiration and unveils new creations, as feminine as always. The novelty in this collection lies in the introduction of cultured pearls and hard stones such as: onyx, turquoise, chalcedony or lapis lazuli. These are materials that have already appeared in some of the Maison’s signature pieces such as the clips of the 50s and 60s and the iconic Alhambra® collection. Today, their radiant colours echo the sky’s changing hues or the bird’s brightly coloured plumage, represented here in a figurative or abstract fashion.

Superocean Chronograph II by Breitling

Breitling has introduced the Superocean Chronograph II in a limited edition further accentuating its powerful character – a new alliance of audacity, style and functionality. Water-resistant to 500m(1,650 ft), its stand-out feature lies in the unidirectional rotating bezel, an indispensable companion for the finest feats in deep waters, which appears clad in red rubber – offering a superb touch of vivid color echoed on the chronograph sweep seconds hand, the counter rings, the date window and the model’s signature. Issued in a 2,000-piece limited numbered edition, this superdiver with its youthful and dynamic style houses a high-performance selfwinding movement chronometer-certified by the COSC (Swiss Official Chronometer Testing Institute). It comes with a choice of steel bracelet, a strap in rubber or Barenia leather, or the all-new Superocean leather strap with red edges to match its bezel.

Carl F. Bucherer presents the Alacria Swan

With the Alacria Swan, Carl F. Bucherer presents a masterpiece within the feminine “Alacria” range. The name, which is a tribute to the Bucherer family that founded the company, is intended to recall their dream of having their own business, brought to fruition long ago in Lucerne. The name is also based on powerful symbols, legendary myths and romantic fairytales. Like the grey and unprepossessing “Ugly Duckling”, ultimately transformed into a snow-white and breathtakingly beautiful swan, the Alacria Swan tells a new story of its own within the collection. Set with over 1,300 diamonds, this astonishing piece of jewelry reflects the highest standards enshrined in the traditional art of jewelry at Carl F. Bucherer. As a sparkling timepiece of perfect beauty, the Alacria Swan, which is fitted with a quartz movement and indicates hours and minutes, conveys a look that is both brilliant and practical.

Melody Gardot for Piaget

Thirty years later, the rose is as popular as ever at Piaget. Talent and expertise are joined in the celebration of the rose. Working in gold and diamonds, Piaget's designers and craftsmen exquisitely created the Piaget Rose collection. But the rose has inspired another talent; that of a glamorous artist who has created her own version of the most famous love song of our time. A romantic melody portraying the words of passion, life, romance and roses: 'La Vie en Rose'. Creating a version of this classic song by Edith Piaf is not easy. Few artists have been able to render a modern remake of 'La Vie en Rose' while retaining its magic and charm. Inspired by her own life experiences and fed by her musical curiosity, Melody Gardot brings a new emotional experience to this song. Its seductive, glamorous and elegant feel reflects the Piaget style. Nourished by Melody Gardot's voice and artistic talent, the Piaget Rose collection is now in bloom, offering all who wear it the promise of metamorphosis.

Ulysse Nardin introduces Executive Lady

In 1996, Ulysse Nardin introduced a patented Dual Time system – one of its many technological breakthroughs. This revolutionary system exists in the Lady Executive. With only one press of the ceramic pushers along the bezel, the hour hand instantly adjusts to a different time zone without ever having to leave the wrist. Whether traveling from one continent to another or simply wanting to stay in the same time zone with the loved ones, the Dual Time system is a useful and convenient feature to have on hand at home or far away. Elegant in pure white, the Executive Lady offers a new mother-of-pearl dial rich in detail and shimmering with accents of diamond. The movement features a 42 hours power reserve and boasts Ulysse Nardin's "quick setting" allowing forward and backward date adjustments. Perfectly matched with the 40mm watch case, the bracelet brings forth a jewelry component that is both gentle and confident, finishing the timepiece’s clean design.

V-RACE GMT by Versace

A collection which expresses energy, vitality and dynamism, characterized by a powerful design: the bold 46-mm-diameter case, massive loops and even the crown with the embossed Medusa and ergonomic pushers create an idea of force and power. Regarding performance, the Swiss Made quartz movement comes with dual time and alarm: two essential functions for a busy lifestyle, constantly on the move. The small seconds counter and the arched window of the date complete the layout of the information. Made up of seven references, the V-race collection has a case forged in stainless steel or IP yellow gold, a steel or rubber bezel with repeated logo, sunray dial with silver or IP yellow gold details, and a man's alligator print leather strap.

DIOR launches the Assouline Coffret books

The pinnacle of French haute couture and savoir faire, the house of Dior is one of the world’s most celebrated luxury brands. In three retrospective volumes presented in a collectible slipcase, Assouline’s Dior captures the most enduring images from each decade of the brand’s rich history. Immortalizing Dior’s fashion, jewelry and fragrance collections, Assouline presents an objet as chic as its subject. Dior Fashion: Former editor in chief of L’Officiel de la Mode, Caroline Bongrand is also a novelist and screenwriter. She has published seven novels, translated in many languages and an essay on the life and issues of modern women. Dior Fine Jewellery and Dior Perfume: Jerome Hanover is a journalist specializing in luxury lifestyle topics. He was editor in chief of Double, and jewelry and watch editor for L’Officiel, and has written for Mixte, Air France magazine, and Le Figaro among other publications.

Damas unveils its latest summer collection

Damas has unveiled the latest summer collection for Farfasha – its designer gold jewellery brand. The new pieces in the collection are all lightweight every-day pieces crafted in 18k gold designed for trendy, stylish and youthful women. Farfasha is represented by Nancy Ajram, a multi-platinum best selling singer and UNICEF goodwill ambassador.  Farfasha is available in seven themes with more than 160 designs ranging from necklaces and bracelets to earrings, punjas and rings. The new collection is available at all price points and affordability remains a key attraction of the brand. Each product is sold with an Authenticity Certificate that affirms it originality and authenticity. The new collection incorporates gold with different designs and colours, incorporating interesting layers and geometric designs. 

Exhibitions & Events

ECLAT DE MODE – The Fashion Side of Jewellery

Launched in 1930 by the BOCI trade association, Eclat de Mode-Bijorhca is now owned by Reed Expositions, which manages and develops the event in association with BOCI. Dedicated exclusively to jewellery, Eclat de Mode-Bijorhca is France’s leading jewellery industry event. The show attracts exhibitors representing some 500 brands from 40 countries, with a 50/50 split between French and international exhibitors. These events are strategically designed to provide an entertaining and informative contribution to the visitor experience, helping exhibitors to showcase their products and buyers to find exactly what they are looking for. The event will be held from 30^th of June to 3^rd of July 2012 at Paris Porte de Versailles, Pavilion 5.

Celebrity News

Shailene Woodley and Ezra Miller winners of the 2012 Trophee Chopard

For the 11^th edition of its Trophee, Chopard rewards Shailene Woodley, rebellious adolescent in The Descendants (Alexander Payne) and Ezra Miller, the new actor to keep an eye on, recently seen in Another Happy Day (Sam Levinson). A partner since 1998 of the Cannes International Film Festival, Chopard signalled its commitment to the “seventh art” in 2001 by creating an award intended to honour the up-and-coming generation of the international movie world. The aim of the Trophee Chopard is to foster new talents by recognising them as Best Young Actor and Actress of the Year.

Diane Kruger wears Jaeger-LeCoultre vintage watch

During the Met Costume Institute Gala in New York, Diane Kruger looked stunning wearing a Jaeger-LeCoultre vintage watch from 1900. The ladies vintage wristwatch in yellow gold set with diamonds and rubies completed perfectly her look. For four years now, Jaeger-LeCoultre has enjoyed the thrill of seeing its watches worn by the star on the most prestigious red carpets around the world, including that of the famous Venice International Film Festival. In addition to her role as inspirational muse, Diane Kruger has also become a Brand ambassador.

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