Market Report

LVMH watch division struggled in 2014

LVMH watch division struggled in 2014 due to “cautious purchasing” among retailers while Bulgari recorded strong sales according to a recent statement by the luxury goods conglomerate. The company said Bulgari’s iconic lines did well in 2014. LVMH Moët Hennessy Louis Vuitton recorded organic growth of 4 percent in its Watches & Jewelry division in 2014 VS 2013 though profit was recurring, operations was down 23 percent.
In addition to Bulgari, LVMH owns Chaumet, Fred, TAG Heuer, Hublot and Zenith and operates De Beers’ retail stores in a joint venture between with the diamond miner and marketer. As a consolidate group, LVMH recorded sales of $34.9 billion in 2014, organic revenue growth of 5 percent year-over-year. Organic revenue growth was 5 percent in the fourth quarter.

Market News

Major Middle East Markets lead in growth while Swiss watch exports ended the year 2014 on negative note

Watch exports ended the year 2014 on a negative note. In December their monthly value was 1.9 billion francs, down 2.5% on the previous year despite one extra working day.
In 2014, the Swiss watch industry exported the equivalent of 2.2 billion francs. Most material saw their value decline including the steel cases.

Hong Kong and China failed to get back on track while major markets in the Middle East recorded close to 10% increase. Saudi Arabia recorded +11.1 growth while UAE and Qatar grew by +8.9 and +4.0 respectively.

Japan remained positive while Europe overall recorded growth of 1.9%.

Company News

Dubai International Airport targets world’s top aviation hub by retail sales

Dubai has set its sights on becoming the world’s top hub by retail sales this year as a flood of Chinese passengers adds to a shopping spree.  Spending at Dubai International Airport should reach $2.1 billion in 2015, up from $1.9 billion last year, when 80 days of runway repairs cut receipts by about $50 million. The two hubs have been trading positions in recent years, with Dubai ranked first in 2013 according to Duty Free analyst Generation Research. Dubai International’s overall sales last year were led by 3.2 million with 3.4 metric tons of Gold items worth almost $164 million. Dubai International’s customer count increased 6.1 per cent last year to 70.5 million, making it the top hub worldwide for cross-border passengers, a title held by Heathrow for decades.

Ian Poulter visits the Audemars Piguet in Swiss Jura Mountains

Audemars Piguet's golf Ambassador and mechanics enthusiast, Ian Poulter visited the brand's birthplace in Le Brassus, Switzerland at the beginning of the year. Ian Poulter was touring the private museum and restoration workshop, where he was particularly impressed by the meticulousness with which the archives have been kept over the centuries. While he enjoyed trying on the novelties that were presented last week at the Salon International de la Haute Horlogerie, He was wearing the Royal Oak Offshore Chornograph with a forged carbon case during his stay in Switzerland.

Chopard becomes the partner of MyFrenchFilmFestival

Chopard continues its support by becoming an official partner of myFrenchFilmFestival’s fifth edition. Chopard joins MyFrenchFilmFestival.com. Internet users worldwide and free of charge can watch the year’s best French films by first and second-time directors through MyFrenchFilmFestival.com, the first online festival for French movies. A month to discover the wealth of French cinema begins on the 16th January 2015. MyFrenchFilmFestival.com became a key event in the online calendar when it generated four million screenings in 2014. This year, the festival continues to lead a trail of innovation, and is now accessible absolutely everywhere in the world thanks to a network of 25 partner platforms. Chopard to award the prix Chopard des Cinéastes, awarded by a jury led by the French director Michel Gondry.

Product Launch

Arnold & Son unveils a new Royal Collection - TEC1

Arnold & Son reveals a new reference of the TEC1 with a palladium case and a black guilloché dial. With a sapphire crystal and case back, the aperture allows for a view that is totally unencumbered and breathtaking. The TEC1 is the brand’s first high-frequency tourbillon, with vibrations per hour and with a generous power reserve of 55 hours. The chronograph levers are satin-finished with hand-chamfered, polished edges and screws are blued with bevelled and mirror polished heads. The highlight of the watch is red gold skeletonised rotor.

Vacheron Constantin presents chronograph watches

Vacheron Constantin presents chronograph watches. Over a three-month period, the heritage area of the Maison is welcoming a new exhibition dedicated to the history of short-time measurement, this year it is presenting “Harmony”: a new collection celebrating its 260th anniversary. The exhibition, located on the first floor of Vacheron Constantin’s historical premises on the Quai de l’Ile in Geneva. The pocket watch features an independent deadbeat second’s hand. Its movement is composed of two sets of gear trains serving to halt the seconds hand without stopping the watch. The first section presents so-called simple pocket.. “The Chronograph through Time” exhibition, running until the end of March 2015.

PANERAI’s encarts red straps for Valentine

PANERAI presents Radiomir 1940 Acciaio PAM00512 and Radiomir 1940 Oro Rosso PAM00513 for Valentine Day. Radiomir 1940 Acciaio PAM00512 case is AISI 316L polished steel. Dial is in black with luminous arabic numerals and hour markers. Crystal sapphire made of corundum. The strap is in alligator and trapezoidal polished steel buckle. Radiomir 1940 Oro Rosso PAM00513 case is in polished red gold. The dial is in brown with luminous arabic numerals and hour markers. PANERAI is personalised with alligator strap and polished red gold buckle.

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