Market News

Richemont announces strong annual sales growth

Richemont group has announced its year-end results for the fiscal year ended March 31 has reached a strong annual sales growth by 33 percent.  Total sales were $9.86 billion, compared to $7.41 billion in the previous fiscal year. Gross profit increased 38 percent to $6.28 billion, while gross margin improved from 62 percent to 64 percent. Jewellery sales rose 29 percent to $4.98 billion in the fiscal year and watch sales were up 31% to $2.53 billion. Further, sales for Montblanc rose 22 percent, while sales for Net-A-Porter.com, the group’s Fashion and Accessories Maisons and watch component manufacturing activities were up 66 percent on the fiscal year.

LVMH $650 million fund hunts for emerging Asian brands

A $650-million private equity fund backed by the world's top luxury retailer LVMH is on the prowl for emerging Asian brands in the hope of transforming them into global names. The L Capital Asia fund has so far spent a total of $90 million on minority stakes in two Singaporean fashion companies and a Hong Kong-listed watch and jewellery company. It is in advanced talks with a fashion-related firm from China and another from India and hopes to make an announcement about the investments in the next few months, said Ravi Thakran, the fund's managing partner.

Dubai display the world’s largest gold ring worth over $3 million

The world's largest gold ring weighting 63.856 kg (5.17 kg of precious stones and 58.7 kg of gold) has been displayed by Kanz Jewellery at Deira Gold Souq in Dubai. The largest gold ring is made out of 21 carat gold and now worth over $3million. The ring has been displayed on behalf of Taiba, the Saudi Arabian jewellery maker who made this unique piece in 2000, when the gold price was only $250 per ounce and now the value of gold has gone up to $1,500 per ounce. The gold ring has also been displayed with a Guinness Book of World Records Certificate.

Geneva’s important watches auction hits a remarkable results

Geneva’s important watches auction achieved a blockbuster total of more than US$ 26.3 Million + 25 percent versus May 2010 results.  The top watch of the sale is a unique 18k white gold cushion-shaped single button chronograph wristwatch manufactured in 1928 by Patek Philippe which sold for more than US$ 3.6 million. Moreover, Christie's announced that with Part IV of ‘A Connoisseur’s Vision’, this prestigious collection of Patek Philippe watches reached the highest total ever for any collection of fine wristwatches ever dispersed at auction, reaching over US$ 22 million.

Sotheby’s sale of Important Watches brings $8,753,568

Sotheby’s sale of Important Watches on 15^th May 2011 brought CHF 7,754,000 ($8,753,568). Covering five centuries of watchmaking history, from 1580 to the present day, the sale was led by a highly rare Patek Philippe chronograph which fetched CHF 722,500 ($815,637), and one of the most exclusive examples of a stainless steel Rolex Daytona “Paul Newman” with inverted lines, which realised CHF 206,500 ($233,150). With strong prices for pieces made for the Chinese, Turkish and Indian markets, the sale attracted buyers from around the world and more than 300 clients had registered.

Company News

A princely week: Cartier and the Royal Court of the United Kingdom

“Cartier: jeweller of Kings, king of jewellers!” This declaration has long sealed the bond that ties Cartier to the Royal Court of the United Kingdom. Pronounced in 1900 by the Prince of Wales and future King Edward VII at the Cartier boutique at 13 Rue de la Paix during one of his frequent visits to Paris, it heralded a unique and rare alliance between the jeweller and the Royal Court of the United Kingdom, which delivered its first royal warrant of appointment to Cartier in 1904. Both parties remained faithful to this bond throughout the century. Cartier has also been an exclusive partner of the polo tournament held each year since 1985 in Windsor in the presence of members of the Royal Family.

Hublot celebrates NYC Boutique Opening

Hublot celebrated the opening of its anticipated New York City Boutique on May 11, 2011 with the unveiling of the special limited edition watch created to support the amfAR global struggle against HIV/AIDS. Hublot CEO Jean-Claude Biver and amfAR Founding Chairman Dr. Mathilde Krim unveiled the Big Bang Black Magic amfAR, a special 100-piece design celebrating their 25^th anniversary, in front of guests including amfAR Chairman Kenneth Cole, Hublot ambassador and supermodel Veronica Varekova, Lady Lynn de Rothschild amongst others.

Chopard as Official Partner of the 64th Cannes Film Festival

For 14^th consecutive year, Chopard is the official partner of the Cannes Film Festival and once again the Palme d’Or is hand-crafted in the Chopard workshops by its skilled artisans. This prestigious trophy is awarded to the winner of the Best Film category at the Cannes Film Festival. In this star-studded film festival, stars from all around the world take part in the grand meeting and wear Chopard pieces. Throughout Cannes, the top celebrities walk the red carpet adorned in jewels all courtesy of the luxury jeweler.

Van Cleef & Arpels Opens its First Boutique in Doha

Van Cleef & Arpels and its local partner, Ali Bin Ali Group, have opened a new boutique located in the famous luxury shopping centre ‘Villaggio Mall’ in Doha which offers a unique shopping experience with individual boutiques laid out around a network of canals, evoking the feeling of the fabled city of Venice. A ribbon cutting ceremony, conducted by the Executive Vice-Chairman of Ali Bin Ali Group, Mr. Nabeel Ali Bin Ali and the CEO of Van Cleef & Arpels, Mr. Stanislas de Quercize was held on Tuesday, May 10th 2011.

Damiani at the 2011 Cannes Film Festival with ‘Snow Flower and the Secret Fan’

Damiani has been part of the 64^th Annual Cannes Film Festival to represent the excellence of Made in Italy luxury ‘dressing up’ some of the leading actresses of the Sino-American movie production ‘Snow Flower and the Secret Fan’, a story set in a 19th century China that perfectly embodies and represents the charming atmosphere of the traditional Chinese culture directed by Wayne Wang. The two leading actresses Bingbing Li and Gianna Jun and the two producers Wendi Murdoch and Florence Sloan wore some of the most precious Damiani Masterpieces on the red carpet.

Harry Winston appoints new Vice President of Sales

Harry Winston has announced the appointment of Mr. Anthony Ledru as the Global Vice President of Sales, a newly created position effective on May 23, 2011.  Mr. Ledru will be based at the Corporate Offices in New York and will report directly to Frederic de Narp, President and CEO of Harry Winston, Inc. In this new role, Mr. Ledru will oversee all aspects of the Company’s Retail and Wholesale distribution channels worldwide, including E-Commerce and Harry Winston’s global expansion, beginning with the opening of a new Shanghai salon later this year. 

Jaeger-LeCoultre becomes the official partner of Shanghai International Film Festival

Jaeger-LeCoultre has announced that it has become the official partner of the 14^th Shanghai International Film Festival, the largest and most influential international film festival in Asia-Pacific. The cooperation between Jaeger-LeCoultre and SIFF will last for three years, during which both sides will work together to restore a number of Chinese classic films and support young and prominent Chinese film directors. During the opening ceremony of the 14^th Shanghai International Film Festival on June 11, 2011, the public will witness a grand event with the galaxy of stars shining on the red carpet.

Panerai conducts Private Lunch with selective media

Panerai Middle East has invited a selective media to a private lunch event held at the Zuma Restaurant on the 18^th May 2011. Present at the head table were Milvin George Managing Director and Mrs. Ariane Ogier Marketing and Communication Manager among several media representatives from the Middle East.

de GRISOGONO celebrates its 10th year at Cannes

This year, de GRISOGONO is celebrating 10 years in Cannes. For its tenth soiree at the Eden Roc, de GRISOGONO set the Cap d’Antibes on fire with a “Bohemian glam” themed evening. In all, some 800 handpicked guests took part in this event which has become a can’t-miss event during the Cannes Film Festival.  As Fawaz Gruosi’s guests were welcomed onto a red carpet lined with candles and flaming torches, they found themselves immersed into the mysterious world of Bohemians. A splendid cocktail also gave invitees a chance to discover the latest de GRISOGONO collections.

deLaCour sponsors Alexia Barrier for 2011/2012 tours

On 1^st April 2011, Alexia Barrier’s sailboat, Figaro “111 4ever” 4myplanet, was baptized and blessed at the port of the Principality of Monaco in the presence of sailboat owner Jean-Michel Bayle, sailboat godfather Pierre Froll and deLaCour as Tour Sponsor, represented by its Chief Designer Pierre Koukjian. At the end of the ceremony, Pierre Koukjian presented Alexia Barrier a timepiece of his latest collections “The Reef Saver”; the first diver timepiece derived from deLaCour’s Promess Collection. The collection is dedicated to those who vow to make a change, such as Alexia Barrier.

F.P.Journe collaborates with Christie's in Charity aid for Japan

Christie’s and F.P. Journe have entered into an unprecedented collaboration to unveil the first of F.P. Journe’s new Centigraphe Sport wristwatch from its brand new “Sport Line” collection at Christie’s Hong Kong Watch Auction.  This all-aluminium mechanical chronograph watch (numbered 001) will be auctioned at Christie’s Hong Kong Watch Sale on May 30th, 2011, with proceeds and buyers’ premium being donated to the relief efforts for the recent earthquake and tsunami victims in Japan.  The donation ceremony will be held at the Embassy of Switzerland in Tokyo on June 3rd, 2011. 

Reuge opens its new boutique at the Rue De Rhone

Reuge is proud to announce the opening of its new boutique at the Rue du Rhone 56 in Geneva. The new boutique is a direct neighbour to world famous boutiques of Louis Vuitton, Omega, Van Cleef & Arpels and offers some of its 50 handcrafted master-pieces in a space of 68 m2. Traditional music boxes, contemporary design objects, singing birds, personalized gifts – 150 years of traditional Swiss craftsmanship are here to proof that this traditional manufacturer from the Swiss Jura has established itself at the top of individual luxury brands.

LA MONTRE HERMES appoints PR Agency

SCHNEIDER PR has been appointed as the Public Relations agency for LA MONTRE HERMÈS across the GCC, Lebanon, Egypt & Syria effective May 2011 onwards.

Product Launch

Perrelet launches the First Class Lady

The First Class Lady watch is based on its timelessness, its durability and its accessibility. The curves of its 38mm diameter case enclose an automatic movement, hidden by a steel case back bearing the fine stamp of the Brand’s rotor. Embellishing its elegance, the bezel is adorned with a 64-diamond necklace. Refined and punctuated with brilliants, the white or black mother-of-pearl dials remain clearly legible. All the softness of the elements is complemented by a genuine alligator strap with a folding clasp.

MB&F introduces HM3 Frog Zr

MB&F introduced the HM3 Frog in 2010 to bring some fun into high-end watchmaking. Until recently, the world's rarest frog was thought to be Isthmohyla rivularis, from the rainforests of Costa Rica. Now, however, that tiny tree frog's place in the record books has been taken by a new amphibian: the Frog Zr by MB&F. The Frog Zr characteristics are underneath its tough black PVD zirconium skin, the flamboyant purple 22K gold rotor reflects hints of green and yellow. This rare HM3 Frog Zr is a limited edition of 18 pieces.

Saint Honore presents HAUSSMAN Forty 7-24

Definitively inspired by car racing, the new automatic super-chronograph from SAINT HONORE puts the Le Mans spirit on your wrist. The silver-tinted dial, in a honeycomb caseback, appears in a clear and racey composition, just like the dashboard in a racing car - round, graduated counters, brightly-coloured hands - or tachymetric scale graduated up to 407 km/h, symbolic figure of the maximum speed record never achieved during a 24 Hours race. The outsized orange figure 15 recalls the start time for the mythical 24 Hours races: 15 hours (3 p.m.).

Exhibitions & Events

Paperworld 2011 closed on a successful note

With 6,246 visitors from 108 countries attended Paperworld and Playworld Middle East throughout the 3-day exhibition. 4,420 visitors stated that their visit was mainly related to Paperworld and Remanexpo Middle East. The top 6 visitor countries outside the United Arab Emirates were: 204 visitors from India, 200 visitors from Iran, 186 visitors from Saudi Arabia, 116 visitors from Kuwait, 90 visitors from Pakistan and 76 visitors from Syria.

1st Watchmakers Ball

Celebrity News

Exclusive interview with Usain Bolt - Jamaican Sprinter & Three-Time World & Olympic Gold Medalist

Hublot makes the best watches in the world

Time is inseparable from sprint. You hold the current 100 meters world record in 9'58''. Nine seconds and fifty-eight, that's a very short time in a day but, for a sprinter, a second is an eternity. Do sprinters have a particular consciousness of time?

Although times are great, the priority is always to win. If a fast time comes that is a bonus for me. I would like to successfully defend my titles…that would mean more to me than a record at this stage.

You are an ambassador of Hublot, who launched the first watch that can multiply or divide time by four: you can chose to make a quarter appears as if it were an hour, or to make an hour appears as if it were a quarter. What do you think of this concept?

Hublot represents the cutting edge of watch technology.  I was fortunate to get the opportunity to see how they make their watches at their headquarters in Nyon and this is a good example of their innovations.  Perhaps the next time I speak to Mr. Biver I can ask if he will make a quarter of a second disappear from my 100m time (smile).

You hold the world records for the 100, 200 and 4 x 100 m. You're the first sprinter to have set a world record in all three disciplines during the same Olympic Games in Beijing in 2008. You are also the first sprinter to win in the same the two world titles and Olympic sprint. You have set a total of six senior world records. What title or performance are you most proud of?

I think the Olympic Games titles are the most prestigious. It is the world’s biggest sporting event and the whole world is watching. I am looking forward to the next Olympic Games in London in 2012. The performance I liked best was my 200 m world record in Beijing. I had been working my whole life to get that record and to get it was special.

Had you not slowed down twenty meters before the finish line in Beijing in 2008, you could have run in 9'61'' or even 8'55'', some scandinavian physicians said. You also reportedly said to the Australian Daily Telegraph you could run in 9'40''. Do you always believe you can achieve this?

I said that I think a human can run 9.40 – I do not know if that will be me or someone else. Generally I try to focus on wiining races first. The key for me will be to stay free of injury and keep working hard.

What are your plans for 2011?

My target is to defend my titles in the IAAF World T&F championships in Daegu, Korea in August. I am working hard in training to do this.

You have run several times in Switzerland - at the meetings of Zurich and Athletissima, or infront of the Hublot factory in Nyon, with a bunch of kids, to raise funds for a caritative purpose. What are your relations with Switzerland?

I always enjoy running in Switzerland. Weltklasse Zurich and Athletissima Lausanne are two of the biggest meets in the world. I have competed there many times and there is always a great atmosphere which inspires me to run faster.

Your name is worth gold, and the most prestigious brands want you as an ambassador. Why have you chosen to represent Hublot and what does it mean for you?

I think it is a natural fit. Firstly Hublot makes the best watches in the world. Secondly they are very involved in sport with the World Cup, Manchester United and now the Miami Heat. The other thing that makes Hublot stands out is that they do so much for good causes and those less fortunate. Last year after an event in Nyon, Hublot gave the Usain Bolt Foundation a check for $100’000 to support my charity work in Jamaica.

What do you like a luxury watch?

I think I am fortunate to be in a position where I can wear a luxury watch and when I wear Hublot I often get people looking at it and asking me about it. I currently wear the Classic Fusion with a suit and the King Power on other occasions. I am proud to be a Hublot Ambassador.

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