Interviews

Interview with Mr. Chris Del Gatto, CEO of Jacob & Co

Jacob & Co. is a young brand with a lot to give in the world of luxury, what in your own words is the brand’s DNA?

We aren’t afraid to take design risks and be truly innovative. We see other brands that are almost weighed down by their history. Also, for our high jewelry and watch collections we have a strong focus on one-of-a-kind items. That also separates us.

You received your Tasks in the company in very recently, what is your vision for Jacob & Co. globally and in the Middle East? What are your priorities?

Taking Jacob & Co. from being a successful jewelry and watch company to a global brand is the overall mission. Getting the marketing infrastructure and strategic partners correct are my top priorities. The Middle East is an important market for us. It’s a place where we’ve been very successful in the past, so we’re very excited to rebuild it.

Jacob & Co is investing intensively in watch industry, now you have Swiss premises, please elaborate. What is your strategy concerning watches?

Yes, we have new Geneva facilities. Every watch we make is not only Swiss-made, but Geneva-made from start to finish. Our strategy concerning watches is to create product that stands out from the competition.

Jacob & Co. launched a large and varied Collection of watches and jewellery in BaselWorld 2013, how were they received?

We received an overwhelmingly positive response.

When will the new products be available at your sales points in the Middle East?

The first products will start shipping at the end of June/July.

Jacob & Co. announced Christiano Ronaldo as brand ambassador what qualities and characteristics does he bring and share with the brand and what will be his responsibilities?

Cristiano is at the top of his game. He shares our commitment to excellence, and he’s extremely fashionable. He’ll be in Monte Carlo with Jacob & Co. in July celebrating the 150th anniversary of the SBM, but as brand ambassador, I’m sure he’ll be at appearances with us throughout the year.

How, in your opinion, is Jacob & Co distinct from its competitors?

I truly believe we are head and shoulders above everyone else when it comes to innovation and design. A collector said it well, “When you own a couple of watches and you put on a Jacob & Co., it makes you smile.”

Jacob & Co is represented in the Middle East through Bin Hindi in the UAE and Amiri Gems in Qatar. Do you have plans to expand your network in the region or open stand alone boutiques?

The Middle East is a very important region for our brand. We’ll be announcing a significant new partnership shortly, and it does include freestanding Jacob & Co. boutiques.

What is your biggest market now?

Russia and Eastern Europe are huge for us. Obviously we have a huge base in the U.S. as well, but our clients are global.

Where does the Middle East market stand? In your Opinion what are the potentials available in the Middle East?

Our brand is very well known in the Middle East, and we have huge hopes for continuing to grow with the new product launches. Our brand is perfect for the Middle Eastern market.

Who is your target audience in this region?

People who appreciate beautiful things and want something different.

What trends are you witnessing worldwide with regard to premium watch and fine jewellery preferences?

It seems everyone is producing complications in watches now, whereas historically you didn’t see that too often. Regarding jewelry, there’s been more of a return to yellow gold.

Jacob & Co is popular among US celebrities, how do you explain the brand’s popularity?

Many of them wear the brand because of Jacob himself – they love his sense of fun and creativity. Creative people are drawn to other creatives and this is the best testimony we can have for the brand.

Jacob & Co has designed a $16 million platinum and diamond tiara for the wedding of Amber Ridinger and actor Duane McLaughlin, and there are rumors of similar creations, who’s next?

We would never break news that belongs to our clients.

Did Jacob & Co complete any bespoke Jewellery or Time pieces to clients in the Middle East? If yes please elaborate.

Yes, we complete custom requests from across the Middle East on a regular basis, but we would never share that information without our client’s permission.

Market Report

Ulysse Nardin opened its first mono-brand Boutique in Geneva

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Market News

Qatar real GDP up by 6.2% in Q1

Qatar's real gross domestic product (GDP) grew 6.2 percent in the first quarter compared to a year earlier, according to recent report by Reuters. According to Qatar Statistics Authority, the growth was pushed by a strong non-oil and gas exports. The authority expected the world's top liquefied natural gas exporter to see continued growth in 2013/2014, driven by the increase in government capital spending.

Dubai luxury retail growth surpassed the growth in other developed markets

The retail landscape in the GCC has changed tremendously from traditional, small, independent, unorganized outlets in the form of souks to large, modern and organized retail chains in the form of malls. Luxury retailing is a thriving business in GCC region consisting of affluent locals, splurging expatriates and deep-pocketed tourists. Luxury retail growth in Dubai has surpassed the growth in other developed markets. The attractiveness of the retail market has resulted in wide spread competition with the entry of many international players. Establishment of newer, swanky malls results in cannibalization of consumers. Polarization of rentals and vacancy levels are seen.

Jordan economy grows 2.6% in Q1

Official statistics data showed that Jordan's economic growth accelerated to 2.6 percent during the first quarter compared to 2.2 percent in the previous quarter, Reuters reported. Earlier this year, the International Monetary Fund (IMF) estimated the economy to expand above 3 percent in 2013, driven by increased government capital spending, a recovery in exports and higher domestic consumption. Also, officials revealed that the Kingdom's foreign reserves have been boosted by at least USD1.5 billion of Gulf money and greater confidence in the local economy by investors.

Company News

Audemars Piguet Golf 2013 “dream team”

Guests from fifteen different countries joined the illustrious roster of the Audemars Piguet Golf Ambassador Team in the experience of a lifetime at the Audemars Piguet Golf Invitational 2013. The scramble game formula afforded guests to a challenging round in the company of the Audemars Piguet golfing “dream team” some of whom arrived directly following the 2013 US Open in Ardmore, PA, comprised of Graeme McDowell, Lee Westwood, Keegan Bradley, Ian Poulter, Bud Cauley, Darren Clarke, Cristie Kerr, Morgan Pressel and Belen Mozo.

B.R.M. produced a special watch for Simon Pagenaud

To mark the legendary American race, Simon Pagenaud’s partner B.R.M. produced a special watch which features the colors and race number of the French driver: the V12-44-SP "77". A number of these watches were donated for the auction which was part of this week’s gala organized by Sam Schmidt, in aid of a charity which cares for people suffering from paralysis. The timepiece comes with a 44mm brushed stainless steel black PVD case, automatic movement, a tachometer, a black dial with light blue hands, a black crown engraved with the number "77", a sapphire glass, front and back. It is 100 meters water-resistant, has a three-year guarantee and is made in France.

Cuervo y Sobrinos Cup 2013 will cross three nations

The Cuervo y Sobrinos Cup, the Great Event in the CSAI calendar, organized by Scuderia Tricolore of Reggio Emilia and reserved for 60 classic cars manufactured from 1919 to 1969. A first edition that already has people talking for the elevated competition level, with 40 time trials and a tough average speed trial on the hairpin bends of the Stelvio with three secret measurings, but also for the spectacular 540 km of roads that will cross three nations. A route rich with every kind of mountain landscape, in the heart of the most beautiful Alps among Italy, Austria and Switzerland. The creation by Cuervo y Sobrinos of a prestigious numbered automatic watch from the Racing Collection that will be given as a gift to every driver, personalized with the racing number.

Laurence Graff named in the Queen's Birthday Honors list

Laurence Graff, Chairman of Graff Diamonds is represented exclusively in Dubai by Damas Jewellery, has been named in the Queen's Birthday Honors List, receiving an OBE (Officer of the Most Excellent Order of the British Empire) for services to jewellery. Mr. Graff’s inclusion in the Honors List comes at a particularly poignant moment, with 2013 marking his 60th year in the industry.

Jaeger-LeCoultre at Closing Ceremony of Shanghai Film Festival

As the official partner of the 16th Shanghai International Film Festival, Jaeger-LeCoultre, presented the winners of the Golden Goblet Awards with a special Grande Reverso Ultra Thin watch carrying a commemorative engraving.

Saint Honore partnered with the Rallye Aicha des Gazelles

Saint Honore Saluted to the Spirit of Womanhood and ties up with Rallye Aicha des Gazelles – the rally with a difference. The rally which pits international all-women teams of intrepid rallyists against the unforgiving terrain of the Moroccan desert, also contributes to Moroccans in need, through the Coeur de Gazelles charity initiative. In a ceremonial evening to mark the event, the Cœur de Gazelles charity and Adriana Karembeu representing the Rallye Aïcha des Gazelles presented the Opéra “Cœur de Gazelles” limited-edition watch, specially designed and dated by SAINT HONORE to mark the 2013 challenge.

Vertu announced Management Changes

Vertu announced that Perry Oosting has stepped down as Chief Executive Officer and confirmed that the Board has named Massimiliano Pogliani, previously Chief Marketing Officer, as the new Chief Executive Officer. In one of two further changes, Steve Amstutz, who was pivotal in establishing the global expansion of the business, in both retail and trade channels, has also stepped down from his role as Sales Director of Vertu. Jonathan Sinclair has taken up the position of Chief Operating Officer at Vertu having moved from his former role as Chief Operating Officer at Jimmy Choo.

Montegrappa launched ‘Icons’ Elvis Presley Limited Edition pens

Shaky Russell, the award winning Elvis impersonator got the crowd grooving as he performed some of the greatest hits of Elvis Presley at the Madinat Theatre, in Madinat Jumeirah, Dubai. The 3-day event witnessed a huge fan following, and a few fans even showed-up in costumes of Elvis Presley himself, recreating and reliving the magic of the 50’s, 60’s and 70s. Adding to the vibrant ambience was the perfectly timed launched of Montegrappa ‘Icons’ Elvis Presley Limited Edition pens. Montegrappa, the official sponsor of the event displayed its new range of Elvis pens – Aqua, Green, Black and Las Vegas.

Product Launch

Chanel opened new boutique in Mall of the Emirates, Dubai

Chanel opened its third boutique in Dubai in the Mall of the Emirates, Fashion Dome. The marble façade, with its simple design and spacious windows and the aesthetic design codes dear to Mademoiselle Chanel. It is adjoined by a room displaying all the ranges of Chanel Watches and next to the Ultra collection of Fine Jewellery, as well as an area devoted to some of the most exceptional pieces of the current Ready-to-Wear and accessories collection.

ISTANA revealed its new ruby collections

ISTANA unveils stunning new collections celebrating the traditional birthstone of July ruby. The glowing gemstone now plays a leading role in an exciting array of platinum, white or yellow gold rings, complemented further by the presence of dazzling diamonds. Rubies are hailed as the ‘King of Gemstones’ both for their rarity and their beauty and are symbols of love, strength and power. Believed to protect one from danger, they were worn by royalty in past eras.

TF Est. 1968 launches the T-Fun Globe automatic watch

The T-Fun Globe automatic watch encase a mechanical calibre, carries the hallmark Codes of the TF Est. 1968 throughout the season and all year long: consummate craftsmanship, carbon bezel, luminescent hands. Its deep sea-blue dial beckons us to Luxurious terraces and decadent poolside retreats, while the salty white globe graphics contrast with the beginnings or remnants of a deep glowing tan.

Vogard introduced its 10th Anniversary Model

Vogard introduced for 10th Anniversary a series of special editions according to the motto "Show your true colors" and each being limited to 10 pieces only. Vogard introduced an orange strap back in 2003. Each of them is individually numbered from Nr 1/10 to Nr 10/10. The piece comes with both the metal bracelet and the orange strap encased in a beautiful anniversary box. Vogard’s unique design remains the only wristwatch in the world to offer instant time zone adjustment with a simple twist of the bezel and to indicate summer time (DST).

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