Swiss Watches Exports June 2016: Steepest first half fall while Middle East market continue to show positive results; LVMH Watches & Jewelry Group up +4% during the first half of 2016

Market News

Swiss Watches Exports June 2016: Steepest first half fall while Middle East market continue to show positive results.

Swiss watch industry exports fell faster than at any other time in the first half, reflecting the difficulties with which the branch has had to contend for many months. They were worth 1.6 billion francs in June, 16.1% less than in June 2015.

Watches priced between 500 and 3,000 francs (export price) are the only ones to have avoided a double digit decline. They followed the same trend as in the past twelve months. The 200-500 francs category posted the steepest falls. Timepieces priced above 3,000 francs also lost nearly 20% in value (-19.5%) as compared to June 2015.

In June, all the principal markets were in decline. Hong Kong reported a steep downturn for the 17th

Consecutive month, while other Asian markets including Japan and China were less seriously affected.

Performance in the United States was better than average, but still in distinctly negative territory. Europe

Also saw steep falls, especially in Italy, Germany, France and the United Kingdom.

Kuwait scored 40.6% increase followed by Kingdom of Saudi Arabia of + 2.9%. UAE declined by -9.4% followed by Qatar -63.3%.

LVMH Watches & Jewelry Group up +4% during the first half of 2016.

LVMH Moet Hennessy Louis Vuitton (LVMH) reported recently that its Watches and Jewelry business group recorded an organic revenue growth of 4 percent during in the first half of 2016.

In the second quarter, revenue increased by 2 percent compared to the same period in 2015.

The company said that it had outperformed the market during the period and was due to an excellent performance from Bvlgari, which continued its growth and outperformed the market. Tag Heuer also gained market share and recorded the first positive effects of the development of its Connected watch.

“LVMH’s results for the first half of 2016 reflect, more than ever, the strength of our business model, which allows us to continue to grow even during an unstable geopolitical environment and economic and monetary uncertainties,” said LVMH chairman and CEO Bernard Arnault.

LVMH’s watch and jewelry brands includes Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd.

LVMH sells Donna Karan International for $650 million.

LVMH is selling Donna Karan International, the owner of DKNY, to G-III Apparel Group in a deal valuing the concerned brand for $650 million.

It’s not entirely a surprise: Donna Karan had been losing money for years, operating in a tough business environment. Luxury analysts say DKNY’s annual sales came in at about $450 million. So G-III is paying about $1 to $1.5 times annual revenue, less than the 1.9 times LVMH paid when it bought the company in 2001.

Global E- government survey UAE in Top 10 higher than Japan, Italy.

New global survey shows e-government emerging as powerful tool with UAE third in Asia

In the 2016 Survey, 29 countries, including the United Arab Emirates (UAE), score "very high," with EGDI values in the range of 0.75 to 1.00, as compared to only 10 countries in 2003.

The UAE is in eighth place globally, with Estonia, on the survey ahead of Japan, Sweden and Italy. The UAE also ranks third in Asia on the survey.

The rankings are based on the report’s E-Government Development Index (EGDI), which ranks countries by measuring their use of information and communications technologies to deliver public services.

The Index captures three dimensions: scope and quality of online services, status of telecommunication infrastructure and existing human capacity.

Company News

Officine Panerai, hosts an exclusive one day "Roadshow” event in Dubai.

Officine Panerai recently hosted an exclusive one day "Roadshow" event at the Four Seasons Hotel – DIFC. The morning event was attended by regional and local press while the evening event was attended by collectors and Dubai watch club members who were delighted by the latest novelties at hand, presented for the first time in the Middle East. The timepieces showcased at this event included: the most complicated watch ever made by the Panerai manufacture, Radiomir 1940 Minute Repeater Carillon Tourbillon GMT – 49mm (PAM00600), the new P. 9010 automatic movement with a power reserve of 3 days, Luminor Marina 1950, the Luminor Due, and the Luminor 1950 3 Days Acciaio – 47mm.

Van Cleef & Arpels partners with Dubai Opera.

Van Cleef & Arpels is the exclusive sponsor of Dubai Opera for Dance and Ballet. Dubai Opera will offer a Variety of spectacular dance shows and ballets at the multi-format performing arts theatre located in the heart of Downtown Dubai. Van Cleef & Arpels is renowned for featuring a radiant hornage to the art of dance within each season of creations.

Audemars Piguet celebrates Henrik Stenson's victory at the British Open.

Henrik Stenson won his first Major Championship as he overcame Phil Mickelson in record-breaking fashion in a thrilling final round at The Open. The world number 5 built confidence last month when he won in Germany and felt it was going to be his turn in Scotland at the Major that is dearest to his heart. The Audemars Piguet Ambassador has had one runner-up finish and four third places in Majors prior to this sensational victory.

Chopard Co-Sponsor of the Leonardo DiCaprio Foundation.

The Leonardo DiCaprio Foundation (LDF) hosts its third annual fundraising auction gala, raising nearly $45 million in Saint Tropez. Chopard is the co-sponsor of the Third Annual Fundraising Auction Gala, which was hosted by Leonardo DiCaprio Foundation (LDF). Chopard Co-President Caroline Scheufele attended the event, along with many celebrities.

RJ-Romain Jerome X Pokémon.

RJ-Romain Jerome is happy to reveal its newest collaboration with The Pokémon Company. To celebrate the 20th anniversary of the one and only Pikachu, the brand is releasing this autumn an exclusive collection of 20 timepieces, the Pokémon-DNA.

Product Launch

Ulysse Nardin introduces Grand Deck Marine Tourbillon.

Ulysse Nardin’s Grand Deck Marine Tourbillon model retrograde minutes display takes the form of a boom. On the dial, hand-crafted wood marquetry evokes a ship’s deck, while the time display is original and creative: a boom pulled by super-strong nanowires indicates the minutes, while the hours are displayed on two concentric disks. The patented device, which is regulated by a second barrel, also incorporates a majestic tourbillon. The case is white gold, fluted bezel. The bracelet is leather with a folding buckle.

S.T. Dupont presents Phoenix Prestige Writing Instruments & Lighter.

The refinement of S.T. Dupont writing instruments is reflected in every detail, from the elegant Phoenix hand-sculpted in bronze with a gold finish to the engraved yellow-gold rings setting off the flame-red natural lacquer. A precious citrine stone adorns the pen’s flexible clip. The exceptional lighter of the collection splendidly represents the Phoenix with its majestic wings and clasping to its heart, a flamboyant precious citrine stone.

Celebrity News

Keke Palmer wears Messika Paris at premiere of Ice Age.

Keke Palmer wore a selection of Messika Paris jewelry including the 5 Rows Snake bracelet, Move ring, Queen V Double ring and Glam'Azone double rings, for the perfect finishing touch to her Off-White vintage jeans jumpsuit.

Be constantly updated on the latest Watch & Jewellery Business markets of the Middle East, as well as information on competitors, promotions, product trends, industry analyses, appointments, new product introductions & developments and market research.

Our weekly 'Arabian Watches & Jewellery Business Newsletter Broadcast' is distributed to over 22,000+ industry executives, Watch & Jewellery manufacturers and distributors, retailers, investors and media consultants globally.

Unsubscribe / Submission of News / Open Forum / Obtaining our news distribution / Confidentiality Important Copyright Notice / Disclaimer

Developed by We Do Web