Saudi Arabia named as world's 8th high growth economy; Jaeger-LeCoultre opens its new boutique in Abu Dhabi; OMEGA launches the Seamaster Planet Ocean 600M”SKYFALL” Limited Edition

   
 
 

Market Report

 

A Brand’s Many Faces by Cynthia Unninayar

A Brand’s Many Faces

By Cynthia Unninayar

 

The idea of hiring celebrities and sports figures to promote a company is not new. The watch and jewellery industry has a long history of associating brand names with famous personalities around the world, and using these “brand ambassadors” to embody the corporate image.

 

The earliest use of a “brand ambassador” in watchmaking occurred in 1927 when Mercedes Gleitze swam the English Channel with a Rolex Oyster around her neck. Oysters also accompanied Sir Edmund Hilary’s expedition when it scaled Mount Everest in 1953. Rolex was again first in 1960, when Jacques Piccard made his famous Mariana Trench dive to 10,916 meters with a Rolex Sea Dweller Deep-Sea Special strapped to the outside of his submarine. The Swiss brand continues to be involved with sports, art, cultural events, and cinema around the world, including several James Bond movies, before Omega stepped in.

 

In the 1950s and 1960s, at the other end of the scale, one of the most successful uses of a brand ambassador was by Timex. With 50 percent of watch sales in the USA, much of Timex’s success was due to the 20-year association with famous television news anchor, John Cameron Swayze. Featured in Timex commercials showing various “torture tests” the watch endured, Swayze ended the test with, “It takes a licking and keeps on ticking,” which made Timex a household name.

 

Today, many “faces” represent watches and jewellery. But are these campaigns effective? “Yes, under certain conditions,” says Michael Pucci, veteran of the luxury industry and CEO of California-based Abbiamo Group. “But to be effective, the brand ambassador concept must be well thought out. It has a better chance of working if the brand is high-end and it engages A-listers in their specific fields, those on the same level as the brand. The relationship must also make sense, such as the Breitling campaign with John Travolta, who himself is a pilot.”

 

“The Travolta-Breitling relationship also illustrates the importance of choosing ambassadors who are ‘squeaky clean,’” adds Pucci, in reference to Travolta’s recent bad press resulting from sexual harassment allegations. No brand would want this kind of publicity for the face of its product.

 

Aside from this type of risk, “the ambassador may not live up to expectations or to the brand image,” explains Michael O’Conner, luxury industry veteran, TV fashion commentator, and CEO of New York-based Style and Substance. One example is the relationship between Raymond Weil and Charlize Theron, who was hired to represent the brand and wear its diamond-set watches. In 2007, the Swiss watchmaker sued Theron was for $20 million for breach of contract after she wore a Dior watch in a perfume ad. The judgement against her stated that she was guilty of repeatedly ignoring the terms of her contract, while also revealing that Theron received hundreds of thousands of dollars for wearing various jewellery brands on the Red Carpet plus $3 million for being the face of J’Adore perfume.

 

“Ambassadors can be expensive,” says O’Conner, citing the example of Anne Hathaway, rumoured to have been paid $750,000 by Tiffany to wear its necklace at the 2011 Oscars. “Today, it is not uncommon for even minor celebrities to demand high fees for wearing a brand at specific functions.” He adds that the public knows this, so it is important for a brand to pick a “face” that aligns with its image.

 

Among the first jewellers to have picked the right faces is Damiani. “Starting in the 1980s, we have always chosen testimonials very carefully to represent the Damiani world,” explains Paola Burzi, press officer for the Italian brand. Among these Red Carpet celebrities are Isabella Rossellini, Chiara Mastroianni, Brad Pitt, Nastassja Kinski, Milla Jovovich, Jennifer Aniston, Gwyneth Paltrow, and Sharon Stone. “They make the brand immediately recognizable, and thanks to their elegance and style, they help grow brand awareness.” One of the most recent faces of Damiani is the famous Chinese actress, Qin Hailu, who attended the Hong Kong Film Festival last April adorned in Damiani. In the case of Sharon Stone, Burzi adds, “she is a family friend and very committed to social issues, which is why Damiani supports one of her charities, the international ‘Clean Water’ project.”

 

With a different style, but also a celebrity focus, is British designer, Stephen Webster. “Celebrity endorsement has been important for jewellery ever since Marilyn Monroe sang ‘Diamonds Are a Girl’s Best Friend’ whilst dripping in Harry Winston diamonds,” says Webster. “Jewellery is about glamour and what could I more glamorous than a Hollywood star and all that it entails?” With a passion for music, Webster chose his friend, Christina Aguilera, as his first brand ambassador. “We have tied in many aspects of the brand with Christina’s activities. Her tour after-parties all over the world often become Stephen Webster events.” Webster cautions, however, “brands must be careful when choosing a celebrity. The person must connect with the right demographic, behave in an acceptable way, and share its values.”

 

On this note, Tim Sayler, Chief Marketing Officer at Audemars Piguet, says, “All our ambassadors embody the brand’s philosophy: ‘to break the rules, you must first master them.’ Just like the brand, our ambassadors have broken the ‘rules’ in their career. These sportsmen truly capture the imagination of the world—they have broken the norm and pushed their sport into new frontiers.” The Swiss watchmaker has been associated with brand ambassadors since the mid-1980s, when legendary golfer, Nick Faldo, became its first. Among other faces are Michael Schumacher, Rory McIlroy, Lionel Messi, and Novak Djokovic. Recently, LeBron James, named as the NBA’s Most Valuable Player for 2011-2012, joined the ranks of Audemars Piguet’s sports faces.

 

Sharing a passion for sports is Richard Mille. “I don’t like the term ‘ambassador.’ I prefer to say ‘partner,’” insists Richard Mille, founder and CEO of the Swiss brand. “My partnerships depend on the person and their personality. All are my friends and members of the Richard Mille family.” They include Felipe Massa, Rafael Nadal, Pablo MacDonough, and Bubba Watson. “I like to use real life sports as a testing laboratory for my watches. Putting them on the wrists of these great champions during competitions is the best way to test the resistance, performance, and comfort, since no sportsman would accept to wear a watch if it would hinder his movements.”  

 

Although Mille is focused on car racing and other sports, he adds that “watchmaking must look to art, architecture, and lifestyle, so I also have Michelle Yeoh, Jackie Chan, Baptiste Giabiconi, and just recently Natalie Portman as partners, who collaborate with us on the development of watches. The use of partners also greatly increases our profile to the public in general and also allows us contact with different groups of people.” Are these partnerships costly? “Compared to what we spend on research and development, it is a good investment,” answers Mille, adding that “it is an honour and a great pleasure to collaborate with them.”

 

Having a brand ambassador is a major part of many brands’ marketing efforts. For those who choose wisely, the results are generally beneficial. Since the purchase of high-end watches and jewellery is an emotional decision, many brands believe this decision is positively influenced by their many celebrity faces.

 
 

Market News

 

Saudi Arabia named as world's 8th high growth economy

Saudi Arabia's winning of 8th position among the world's 10 high growth economies of 2012 listed by the International Monetary Fund reflects its economic strength and stability, said Economy and Planning Minister Muhammad Al-Jasser. "The IMF has predicted that the actual growth rate of Saudi Arabia's gross domestic product would reach six percent in 2012. This is a new international certificate that reaffirms the Kingdom's economic stability and effectiveness of its economic policies," he said.

 

Elvis Presley’s Omega Constellation Sells for a World Record Price of $52,500

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An Omega Constellation that previously belonged to Rock 'n' Roll legend Elvis Presley was the highlight of the sale of "Important and Modern Vintage Timepieces" at Antiquorum Auctioneers in New York City on 12th June 2012. The bids for the highly sought-after timepiece quickly escalated from $10,000 to an incredible $52,500, over five times its pre-sale estimate and a world record for the reference.

 
 

Company News

 

Jaeger-LeCoultre opens its new boutique in Abu Dhabi

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Jaeger-LeCoultre has recently opened its seventh boutique in the Middle East. Abu Dhabi’s renowned Etihad Towers plays host to the UAE’s third Jaeger-LeCoultre boutique that follows in the footsteps of the Dubai Mall and Abu Dhabi Marina Mall outlets. Under the patronage of H.H. Sheikh Nahyan Bin Mubarak Al Nahyan, United Arab Emirates Minister of Higher Education and Scientific Research and H.H. Sheikh Suroor Bin Mohammad Al Nahyan, and in the presence of the Swiss Manufacture’s International Sales director, Mr. Jerome Favier on behalf of CEO Mr. Jerome Lambert, the new boutique was inaugurated.

 

Hublot and Zegg & Cerlati pay tribute to women

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In an initiative driven by Tina Zegg and in conjunction with Jean-Claude Biver, Chairman of Hublot, sixty women - company heads and opinion leaders in their field have gathered at the Hotel de Paris in Monaco on 11th June 2012 to attend a conference on "The superiority of women". The event provided the perfect opportunity to unveil the Big Bang Zegg & Cerlati, a watch designed for strong, dynamic women, based on idea which came from Carlo Cerlati and designed with his contribution in the image of his partner Tina Zegg.

 

L.U.C Chopard Classic Weekend Rally 2012

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On 3rd June, the tenth anniversary L.U.C Chopard Classic Weekend Rally took place in Moscow. This year, despite rainy and windy weather, 70 old-timers followed the itinerary from Tretyakovsky Proezd to Barvikha Luxury Village. The oldest participant of the event was Rolls Royce Phantom 1 Open Tourer manufactured in 1926.

 

Longines as title sponsor for FEI World Endurance Championship 2012

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Longines has become the title sponsor and official timekeeper of the 2012 Federation Equestre Internationale (FEI) World Endurance Championships (25th August 2012) at Euston Park near Newmarket, Suffolk, UK. The FEI CEI 4* competition over 160km, organized by Janah Management, will officially be known as the Longines FEI World Endurance Championships. The 14th running of the FEI World Endurance Championships will see around 160 riders from up to 40 countries lining up for the contest around the undulating Euston Park track.

 

Panerai Classic Yachts Challenge 2012

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The 17th edition of Les Voiles d’Antibes, the first stage of the Mediterranean Circuit of the international Panerai Classic Yachts Challenge, concluded on June 3rd at Antibes on the Côte d’Azur. Despite cloudy weather and very light winds, the 50-plus participating yachts, which were divided into 9 categories according to their construction year and rig, did battle in 3 thrilling regattas over courses of between 7 and 16 miles.  Victory in the Big Boats category went to the 1914 Moonbeam IV – she finished first in all three of her races.

 

Bell & Ross opens new corner in Dubai Mall

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In collaboration with Paris Gallery Group, Bell & Ross opened a new corner in Watch Gallery, Dubai Mall. The corner strongly emits the Bell & Ross heritage, with a selection of the brand’s ultra-sophisticated collections along with limited edition pieces being surrounded by various dials from the cockpit, that play an inspirational role in the design of the pieces.

 

Audi Eberhard Team wins at Melges 24 Austria Cup event

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During the Melges 24 Austria Cup, Audi Italia Sailing Team, supported by Eberhard & Co. and skippered by Riccardo Simoneschi, took part on this event with the objective of testing its potential in view of the world trial, and resulted the undisputed protagonist with 8 race wins. The race was valid for the European and Worldwide lists rankings, and was organized by the Kammersee Sailing Club on Lake Attersee.

 

Boucheron receives Vogue Joyas Awards

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Boucheron has once again been presented with the "Vogue Joyas Award", this time in the "Vintage Jewel" category, on the occasion of the annual Spanish Vogue contest. The award winning Boucheron creation is a bracelet dating from 1935, in yellow gold and silver set with diamonds, onyx and coral. It was exhibited during the awards gala which was held on May 6th in Madrid.

 

Ritmo Mundo at 2012 INDY 500

Ritmo Time Group (RITMO MUNDO, IZOD, & REFLEX) was so proud to be part of the 2012 Indy500 - the largest gathering of people for a sporting event to date. Ritmo ambassador Helio Castroneves drove in Car #3. Starting from pole was IZOD car #2 with Ryan Briscoe. Ryan Hunter-Reay's Andretti Car #28 raced with a RITMO logo on his car. Finally, on both Dayle Coyne Car #18 with Justin Wilson & #19 James Jackes raced with RITMO & REFLEX logos.

 
 

Product Launch

 

OMEGA launches the Seamaster Planet Ocean 600M”SKYFALL” Limited Edition

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In SKYFALL, to be released in autumn of 2012, James Bond will take to the screen for the 23rd time with Daniel Craig again assuming the role of the world’s favorite secret agent. And once again, 007 will wear an OMEGA Seamaster. To celebrate its seventh performance in a supporting role in a Bond film, OMEGA is launching the Seamaster Planet Ocean 600M”SKYFALL” Limited Edition watch. The watch has a 42 mm brushed and polished stainless steel case and a matching patented screw-and-pin bracelet whose divers’ clasp is engraved with “007”. The watch is water resistant 60 bar / 600 metres / 2000 feet.

 

TAG Heuer launches its new collection with the debut of Hatem Alakeel Bespoke collection, The Blue Label

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TAG Heuer reinforces its partnership with Saudi’s celebrity thobe designer, Hatem Alakeel, with the launch of a capsule collection of men’s thobes and shirts inspired by the TAG Heuer brand as part of his bespoke “Blue Label” line. TAG Heuer also showcased its latest collection of timepieces at Toby by Hatem Alakeel’s boutique in Jeddah, marking the first step in transforming the boutique into Saudi’s first multi-brand concept store for men. 

 

A. Lange & Sohne – a quest for lunar precision

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The latest model by A. Lange & Sohne, the LANGE 1 TOURBILLON PERPETUAL CALENDAR, embodies fundamentally new mechanical solutions. All displays of the perpetual calendar – the outsize date, the retrograde day, the month ring, the aperture leap year, and the moon-phase indication – switch instantaneously and thus always deliver unambiguous readings. The mechanism is designed such that it must only be advanced by one day on March 1st of the secular year 2100. And the moonphase display will even run true for 122 years before it needs to be corrected by one day.

 

Class One Tourbillon by Chaumet

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The Class One, endowed with a tourbillon escapement mechanism, considered to be the most ingenious of watchmaking complications, is adorned with a breath-taking array of precious stones. Each watch is embellished with an exceptional selection of 558 stones representing a total weight of over 25 carats. There are two unique pieces; diamond and blue sapphire or diamond and ruby and two limited editions of four pieces each in white diamonds and black diamonds. Each version presents an XL size 42 mm case in white gold which is entirely set with calibre baguette-cut stones from the bezel to the side of the case, including the horns and crown.

 

The Silverstone Stowe GMT by GRAHAM

The Silverstone Stowe GMT is an impressive 48 mm steel chronograph which features carbon elements. The sporty black carbon dial is adorned with yellow numerals, chrono and minutes counter’s hands. The watch also shows a double-disc date and a GMT function displayed by the central GMT hand and the green scale on the aluminium and carbon fiber bezel. The Silverstone Stowe GMT also offers a sophisticated flyback function. It enables the user to reset the chronograph to zero without stopping it.

 

ASPEN ONE launches DOWNHILL GT

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The limited edition ASPEN ONE collection has been extended with a sportsversion called DOWNHILL GT. This watch combines 18crt Gold en details and Titanium in the outer case and has a golden inner case. Its weight has been reduced with more than 50 percent compared with the full golden version. The collection has a variety of colors that can be chosen for the dial as well as the vessel. The whole ASPEN ONE collection has a total limitation in production of 3267 pieces.

 

The Moon Dust Red Mood Chrono by RJ-Romain Jerome

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In its ongoing journey from Earth to Moon, RJ-Romain Jerome has dreamed up a new generation of time instruments. The Moon Dust Red Mood Chrono carries all the distinctive RJ-Romain Jerome design codes: four “paws”, circular satin-brushed 3 and 6 o’clock counters, screw-locked lugs and large notched pushers. The round 46mm red gold case is topped by a carbon fibre-coated bezel.

 

Roger Dubuis introduces its new advertising campaign

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With extraordinary imagination and daring magic, each visual reveals a different face of Roger Dubuis and the genes of the company whose reputation has been built on the excellence of its unique collections.

 

A Legacy of Love by Tiffany & Co.

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The engagement ring as we know it today was introduced by founder Charles Lewis Tiffany in 1886. Named the Tiffany® Setting, the innovative design of six platinum prongs lifted the stone off the band into the light. The combination of stone and setting produces a ring of dazzling charisma. To this day, the Tiffany® Setting is the most sought-after symbol of true love.

 

U-BOAT Striking Sports Watches

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All U-BOAT watches are distinctive; ccharacterized by their strong identity, large size, perfect legibility in all light and weather conditions, along with a bold and individual design: the left crown protected by a specially designed safety cover. U-BOAT lines Classico, Flightdeck and Thousands of Feet are available at the Fine Jewellery & Watches Department in Harvey Nichols – Dubai, Mall of the Emirates.

 

Arabian Marketing introduces two new watch brands

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Arabian Marketing Corporation has introduced two new watch brands from Switzerland - Delma and Delbana. The two new collections are currently available at Paris Gallery in UAE and Qatar. Delma is a traditional Swiss Watch manufacturer and one of the few remaining independent Swiss Watch houses. Delbana is a sister brand of Delma, manufactured by the same company in Switzerland and to the same high Swiss standards of watchmaking, while providing stylish and fashionable ladies’ and gentlemen’s collections appealing to the young and trendy public with glamorous sparkling details for ladies and a sporty touch for men’s models.

 

Backes & Strauss launches Luxury Diamond Timepieces for Men

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Dubai fashion store Harvey Nichols showcases a selection of classical dress watches by Backes & Strauss. The design team of Backes & Strauss has created three unique watch collections for men: The Berkeley, The Piccadilly and The Regent. Crafted in either 18-carat white or rose gold and stylishly set with diamonds, these watches are inspired by London’s Regency architecture.

 
 

Celebrity News

 

Malin Ackerman Premieres 'Rock of Ages' in Harry Winston Diamonds

Actress Malin Ackerman attended the Rock of Ages Premiere in London wearing classic Harry Winston Lily Cluster Collection. She wore Diamond Lily Cluster Earring, 18K Yellow Gold Diamond Lily Cluster Marquise, Fashion Ring, 18K Yellow Gold.

 

Audrey Dana shines in Piaget Rose jewellery

French actress Audrey Dana climbed the famous red-carpeted staircase at the 65th closing ceremony of the Cannes Film Festival, adorned in Piaget Rose jewellery. Won over by the creativity and originality of the Piaget Rose collection, she graced the red carpet ceremony wearing a Piaget white pearl and diamond sautoir necklace, as well as a Piaget Rose ring set with sparkling diamonds.

 
 
 
 

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