Richemont to replace four brand CEOs in the coming months; Oman and Lebanon records tremendous growth in the Middle East market for Swiss watch exports in December 2016

   
 
 

Market News

 

Richemont to replace four brand CEOs in the coming months.

Richemont is set to replace four brand CEOs over the coming months these latest changes will effect Dunhill, Jaeger-LeCoultre, Piaget, and Vacheron Constantin according to the latest reports by Bloomberg and Reuters.
As per the report the CEOs of these brands will be stepping down (although who is doing so voluntarily is obviously a mystery), however Dunhill is receiving an immediate replacement in Andrew Maag, head of Europe, Middle East, India, and Africa for fashion brand Burberry. Jaeger-LeCoultre CEO Daniel Riedo is reportedly leaving at the end of February "for other opportunities," while both Piaget CEO Philippe Leopold-Metzger and Vacheron Constantin CEO Juan-Carlos Torres are retiring. Both Leopold-Metzger and Torres will remain non-executive presidents, according to Bloomberg's source. Georges Kern, who ascended to become head of watchmaking for all of Richemont, will act as interim CEO of Jaeger-LeCoultre, though the plan for the other two brands is not yet known.
 

Oman and Lebanon records tremendous growth in the Middle East market for Swiss watch exports in December 2016.

According to the Federation of the Swiss Watch Industry, the month of December saw a recovery for the Swiss watch industry exports, although the total exports for the month  was negative, the industry saw the value of its exports lose (4.6%) compared to December 2015 which stood at 1.7 billion francs. 
There was an increase in the number of pieces exported which showed signs of recovery in the second half, however the trends remained distinctly negative overall due to the decline in the exports of the higher range value watches.
In the Middle East Oman showed a massive growth of 328.6% followed by Lebanon at 53.5% and Kuwait also had a marginal growth of 1.2%. However UAE, Saudi Arabia and Qatar experienced a decline in Swiss Watch Exports of (15.4%), (29.2%), (25.3%) respectively.
Hong Kong with a highest market share of 12.6% fell by more than (15.7%), USA achieved an increase of 10.9% with a sustained growth and a market share of 10.8%. China also recorded an increase of 27.6% with a market share of 8.4%, Japan showed a positive increase of 3.9% with a market share of 6%. 
United Kingdom, Singapore recorded a decline. Also the top two European markets: Italy and France also did not achieve the same performance and the downturn was clearly visible with a drop of (18.6%) & (11.9%) respectively. 
 

Dubai International Airport records 83.6 million passengers in 2016.

Dubai International Airport saw 83.6 million passengers pass through it in 2016, operator Dubai Airports said in a statement. Representing an increase of 7.2 per cent on 2015, a year in which 78 million passengers travelled through Dubai International, the 2016 figure of 83.6 million still fell short of the projected 85 million that authorities had hoped for. Yet the airport retained its title as the world’s number one airport for international passengers.
 

L'azurde acquires Scandinavian franchise of ‘Amazing Jewelry’ for Middle East region.

L’azurde Group announces the launch of its first ever franchise with ‘Amazing Jewelry’. L'azurde acquired the franchise to sell Amazing Jewelry pieces in Saudi Arabia, Egypt and seven other countries in the MENA region for a period of 25 years.
 
 

Company News

 

BVLGARI opens its first BVLGARI Il Cioccolato in Dubai.

Bulgari and Meraas announces the opening of the first BVLGARI Il Cioccolato in the United Arab Emirates. Located at CITY WALK, the urban living destination, as part of ‘Boutique Le Chocolat’, BVLGARI Il Cioccolato offers artisanal haute couture chocolates, known as the ‘chocolate gem’ creations of the Roman jeweler.
 

Chopard unveils the Garden of Kalahari during an exceptional event in Paris.

Chopard unveils the mesmerizing Garden of Kalahari collection at the famous Théâtre du Châtelet, in the heart of Paris, on January 21st. The Garden of Kalahari is born from an exceptional 342-carat rough diamond of perfect colour and absolute purity, the Queen of Kalahari.
 

Officine Panerai at the 25th Dubai International Boat Show 2017.

PANERAI, announces its participation at the 25th Dubai International Boat Show 2017 as the ‘Supporting Partner’ for the eighth consecutive year. PANERAI will be sponsoring the VIP  registration  lounge  designed  in  a  maritime  like  atmosphere  inspired  by  the  Panerai classic  yacht challenge. The Dubai Boat  show,  taking  place  from  February  28  until  March  4  2017,  is  the  ideal  regional  platform  for PANERAI to collaborate with in order to display its latest novelties launched at the Salon International de la Haute Horlogerie (SIHH) in Geneva. 
 

Louis Moinet - on the wrists of the world’s greatest racing drivers.

Louis Moinet an official partner of this ‘race with a difference’, to be held in Miami which was held on January 21 and 22, 2017. Louis Moinet has chosen to link up with the Race of Champions in particular because the contest adds a unique dimension to motor sport. For this, its first association with the event, Louis Moinet has come up with a limited edition of 29 “ROC” timepieces. Housed in a black PVD steel case, the automatic two-pusher chronograph combines steel and carbon fibre with a sapphire caseback featuring the race’s insignia, engraved on the rim. 
 

Pure Gold Jewellers embraces UAE’s Year of Giving initiative to help debt laden prisoners.

Embracing the spirit of the "Year of Giving 2017" initiative announced by His Highness Shaikh Khalifa bin Zayed Al Nahyan, President of the UAE; leading retail jeweller Pure Gold Jewellers, has pledged USD 1 million (AED 3.8 million) to help secure the release of debt laden prisoners in the UAE.  Firoz Merchant, Founder and Chairman of the company and an internationally recognised Philanthropist, visited the Ajman Central Jail to secure the release of the first batch of 132 prisoners whose debts worth AED 150,000 in total was paid off. 
 
 

Product Launch

 

Jaquet Droz unveils its Petite Heure Minute Astorite for Valentine's Day.

A rare gemstone with a legendary aura, astorite adorns the dial of the Jaquet Droz Petite Heure Minute just in time for the lovers’ holiday. On a pink background sparkling with gold and silver inclusions, and black flecks and veins, the dial is transformed into an authentic tableau of contemporary art worn on the wrist in 35 mm. The pink of the astorite reflects the richness of the red gold case, ring and hands, and the soft waviness of white mother-of-pearl. Illuminated with diamonds set in the bezel and lugs. 
 

Bell & Ross launches BR X1 Tourbillon Chronograph Instrument De Marine.

BR X1 Tourbillon Chronograph is housed in an 18-carat rose gold and wood case. In classic fashion, the central hands on the dial indicate the hours and minutes. A sophisticated hand-wound mechanism, the «flying» tourbillon has 282 minuscule constituent parts, and sits inside a delicate suspended cage. Sapphire case-back with anti-reflective coating. Strap is brown alligator, buckle is of rose gold. 
 

Corum presents The ‘Big Bubble Stop’

Corum unveils the 'Big Bubble Stop'. The Big Bubble Stop, featuring a genuine reflective dial, will be produced as a series of 88 pieces instead of the unique piece as originally intended. The model is available in titanium case covered by the famous domed sapphire crystal, giving the wrist a strong identity that is in tune with its "STOP" dial while proving particularly lightweight. Finally, the Bubble Stop features a sapphire case back.
 

The new DeWitt Academia Out of Time.

The DeWitt presents the Academia Out of Time with its dial lacquered in a chocolate colour tone highlighted by specks of gold. Housed in a round 42.5 mm diameter case, the Academia Out of Time watch is driven by an automatic DeWitt calibre indicating the hours, minutes and seconds. The Academia Out of Time's case is crafted in 18-carat rose gold and black rubber. The wristband is brown alligator, buckle, triple folding clasp, rose gold polished cover with “W” signature. 
 

Fendi Timepieces unveils the New Momento Fendi Lovers.

The new Momento Fendi Lovers is the latest capsule within the iconic Momento Fendi Collection. It features two heart-lovers designed by Karl Lagerfeld in black and white tones, with luminescent hearts lighting-up the red dial. Elegantly combined with silver hands, numerals and indexes, with polished and satin-brushed stainless steel case and bracelet. 
 

Swatch for Valentine's Day presents PLANET LOVE.

Colorful,  light-hearted,  and  free  as  a  butterfly,  PLANET  LOVE  was  created  by  the legendary Argentinian  cartoonist,  Guillermo  Mordillo for Valentine’s Day. 
 

Pomellato presents M'ama Non M'ama for Valentine's Day.

M’AMA NON M’AMA - Italian for “loves me, loves me not” - captures the tender yet mischievous dialogue between  lovers  in  a  youthful  collection  of  elegantly  streamlined  pieces  of  delicate  smallness  and pervading colourfulness. Amethyst, peridot, London blue topaz,  moonstone  and  garnet  are  the  gems  chosen  for  an  edition  which  encompasses  five  rings  with coloured stones and a pavé of white diamonds.
 

Roberto Coin introduces Princess Flower Collection.

Roberto Coin’s each flower in the Princess Flower collection blooms on February 14th, Saint Valentine’s Day, when the sun and the moon align to illuminate lovers and to stifle solitude – the day on which giving a flower means giving true love.  Yellow gold double flower design ring with diamonds. 
 
 

Celebrity News

 

Isabelle Huppert wears Chopard to the Critics' Circle Film Awards in London.

French actress Isabelle Huppert wears a pair of 18 carat white gold earrings set with round-shaped and fancy-cut diamonds and an 18 carat white gold bracelet set with round-shaped and fancy-cut diamonds, both from the High Jewellery Collection.
 

Ivanka Trump wears de GRISOGONO at President Donald Trump’s Pre-inauguration dinner.

On the occasion of President Donald Trump’s pre-inauguration dinner at Union Station in Washington, D.C, Ivanka Trump chose to wear de GRISOGONO Jewels. She wore stunning de GRISOGONO VENTAGLIO earrings and ALLEGRA ring, perfectly matching her black and white Carolina Herrera gown. 
 
 
 
 

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