Market Report

Dh10.2bn worth of gold and jewellery bought in UAE in 2012

The UAE residents and tourists spent $408 million (Dh1.5 billion) on jewellery in the fourth quarter of 2012 as compared to $385 million (Dh1.4 billion) for the same period the previous year, an increase of six per cent; while annual jewellery sales dropped seven per cent to $2.266 billion (Dh8.316 billion) from $2.443 billion (Dh8.965 billion) in 2011, WGC said in its annual report. In terms of volume, Q4 2012 jewellery sales rose four per cent to 7.4 tonnes, but annual sales fell 16 per cent to 42.3 tonnes. Total gold sales including bar and coin investment in Q4 2012 rose three per cent to $557 million (Dh2.04 billion) from $543 million (Dh1.99 billion) in Q4 2011. Quarterly sales volume totalled 10.1 tonnes, an increase of one per cent.

Full year gold sales in the UAE totalled $2.777 billion (Dh10.2 billion) a drop of seven per cent. Volumes also dropped 15 per cent to 51.8 million tonnes. World Gold Council said Q4 2012 was the strongest quarter for global jewellery demand since Q1 2011 as India, and to some extend the Middle East, drove a recovery in the sector. Continued innovation in the range of gold investment products available across a range of countries confirms the healthy appetite for gold among investors. Gold prices fell $25.9 to six-month low of $1,608.8 an ounce on the New York Mercantile Exchange on Friday. The yellow metal price is down nearly 3.9 per cent year-to-date.

Market News

Swatch group to expand boutique concept in the USA

The Swatch Group announced recently that it is expanding its boutique concept by opening three more of its multi-brand Tourbillion Boutiques, bringing concept’s boutique total to seven in the U.S. market. The new stores will be located on Post Street in San Francisco, North Michigan Avenue in Chicago and in The Mall at Short Hills in New Jersey, to join existing boutiques in Beverly Hills, Calif., Las Vegas, New York and Costa Mesa, Calif. The Tourbillion Boutiques contain a number of different watch and jewelry brands presented via a shop-in-shop concept, with each one having its own dedicated area. The Swatch Group’s Tourbillon Boutiques includes Breguet, Blancpain, Glashütte Original, Jaquet Droz, and Omega.

Jaeger-LeCoultre reaffirms its support to the marine sites protection program

The marine sites protection program alongside UNESCO and the International Herald Tribune since 2008, Jaeger-LeCoultre has reaffirmed its support to the cause by welcoming numerous international guests at its famous boutique on Place Vendôme. All partners have mobilized around this action and wish to strengthen the partnership celebrating its fifth anniversary this year Jerôme Lambert, Jaeger-LeCoultre CEO, and Clive Owen, a friend of Jaeger-LeCoultre,  Irina Bokova, UNESCO General Director, and Stephen Dunbar-Johnson, International Herald Tribune President.  The commitment undertaken in 2008 together with UNESCO and the International Herald Tribune, Jaeger-LeCoultre reaffirms its support for the protection programme dedicated to marine sites. The watch manufacturer remains particularly concerned with and involved in the cause of environmental protection.

Company News

Perrelet announces the departure of its CEO

Perrelet announces the departure of its CEO Mr. Fausto Salvi that wishes to move on towards new projects. When he joined Perrelet in March 2009, the mission he was given by Mr. Rodriguez, chairman of the company, was to reposition the brand both in terms of product and commercial development. This goal is now achieved according to an official statement by the company.

Gucci timepieces and Jewellery celebrates the new Timepiece

Grammy Museum Executive Director Bob Santelli and Gucci Timepieces & Jewelry CEO Michele Sofisti hosted Grammy Award winning artist John Legend for a private musical event to kick off Gucci Timepieces & Jewelry’s support of the Grammy Camp program and the launch of the new Gucci Grammy Interlocking watch. To celebrate this special occasion, John Legend was gifted with a unique I-Gucci Grammy timepiece set.

Blancpain honor Laurent Ballesta with the “Hans Hass Fifty Fathoms Award 2013”

A day after the 94th birthday of pioneer ocean explorer Austrian Professor Hans Hass, Swiss watch manufacturer Blancpain and the Historical Diving Society Hans Hass Award Committee awarded French marine biologist Laurent Ballesta the annual “Hans Hass Fifty Fathoms Award”. The public ceremony took place in Düsseldorf (DE) during “Boot”, the largest marine industry exhibition worldwide. In the year that celebrates the 60th anniversary of the Fifty Fathoms, Blancpain proudly presented the first modern diving watch to the winner in honor of his achievement and excellence in the fields of diving, underwater photography, and science.

Omega President Stephen Urquhart joined International Olympic Committee

Omega President Stephen Urquhart joined International Olympic Committee President Jacques Rogge in front of the Omega’s Countdown Clock in Sochi today to celebrate the unveiling of eight other Omega Countdown Clocks across Russia. Each clock will countdown the final 365 days to the start of the Sochi 2014 Olympic Winter Games on 7 February, 2014. The upcoming Games mark the prestige Swiss watchmaker's 26^th time in the role of Official Timekeeper since 1932, and Omega looks forward to serving the world’s finest winter athletes at Olympic Games marked with tradition and culture.

Light up your attire this season with Palmiero’s Haiku jewellery watch

Palmiero’s new and sensational Haiku jewellery watches exclusively designed for spring, Inspired by the lyrical Japanese verse form of Haiku, these bewitching timepieces portray the traditional Tree of Life as sublime witness to the passage of time and the four seasons. Palmiero’s Haiku collection is inspired by Haiku, a revered form of traditional Japanese poetry which   was highly popular in the 17^th century. Palmiero’s enthralling Haiku jewellery watch collection, now exclusively available at leading luxury retailer Levant stores across Dubai.

Ritmo Mundo announces PGA golfer as a global brand ambassador

The Ritmo Mundo Time Group, known for manufacturing fashion forward watches blending Italian style with Swiss craftsmanship, has signed up British professional golfer David Lynn as an international ambassador for the Ritmo Mundo and Reflex brands. Lynn will debut his Ritmo Mundo timepiece this weekend at the Northern Trust Tournament at the Riviera Country Club in Pacific Palisades, California.

Product Launch

Omega presents the special edition Constellation Star ORBIS

Omega supports ORBIS International and its Flying Eye Hospital, which delivers high-level eye care to some of the world’s more remote regions. The Constellation Star 24mm and 27mm, Omega demonstrates its connection to social responsibilities and has made it possible for watch enthusiasts to make their own contribution to ORBIS International and its efforts to fight preventable blindness around the world. In agreement with the humanitarian organisation, Omega has pledged to donate a portion of its proceeds from each Constellation Star to ORBIS International. The Omega Constellation Star 27mm features a distinctive sun-brushed blue dial with applied 18 Ct white gold elements and white Super LumiNova on the hands.

Blacksand manufactures a unique model called "Continuity Ocean."

A unique timepiece for the auction of the “Bal du Printemps” to be held on March 21st, 2013, and Celebration of 15th anniversary of Bal du Printemps, the Geneva watchmaker Blacksand, produces a unique model called "Continuity Ocean." This piece gives true meaning to beauty

And offers the possibility of celebrating contemporary time while enjoying a refined and luxurious object bearing a message for the generations to come. Housed in a pink gold case set with diamonds, a turtle entirely made and engraved by hand makes us travel in a sea of enamel. The Blacksand Genève 1999, self-winding caliber, provides a poetic reading of the time. With

an indication of the jumping hours at 12 o’clock and the dragging minutes at 6 o’clock, this little gem plunges us into a world where only the water window at 3 o'clock lets us know if we swim at night or in daylight.

Levant revealed the new ‘The Moonlight’ collection

Levant reveals the new ‘The Moonlight’ collection renowned by Swiss luxury watch brand Quinting. This is their first ever unique moon phase watch which depicts the moon revolving around the earth and accurately shows its phases. It is powered by a unique transparent patented movement exclusively designed for it.  The Moonlight watch is part of Quinting’s Art Collection and comes in a limited edition of just 360 pieces, representing the 360 phases of the earth.  “The Moonlight’ Quinting’s unique limited edition masterpiece now available at LEVANT outlets across the UAE.

Armin Tourbillon Water revealed

The tourbillon of the new ATC11 calibre is distinguished by a lever worked in 18ct white gold and an assembly that places the balance wheel and seconds pinion on the same axis. A hallmark of the Tourbillon Collection is the exposed, intricate inner mechanics. The brand has promoted modern forms of skeletonising, with designs integrated from the early stages of the calibre before being entirely crafted by hand in the Manufacture. The ARMIN Tourbillon Collection, based on the elements Earth, Fire, Water and Air present the brand’s aesthetic genius and pays testament to the Manufacture’s full spectrum of watchmaking skills

Exhibitions & Events

GJEPC announces the first India International Jewellery Week (IIJW) 2013 at New Delhi, India

The India Trade Promotion Organisation (ITPO) under the Ministry of Commerce and Industry and the Gems & Jewellery Export Promotion Council (GJEPC) announced their joint collaboration to organize the First India Gem & Jewellery Fair (IGJF) at a glittering ceremony attended by Smt. Rita Menon, CMD, ITPO, Shri. Vipul Shah, Chairman, GJEPC, Bollywood Diva & GJEPC Brand Ambassador, Ms. Sonam Kapoor as well as eminent members of the ITPO and GJEPC and other officials and dignitaries.  The event which was held at the Ballroom at Shangri-La’s Eros Hotel on this month February, 2013. The ITPO signed an MOU with the GJEPC to launch the first India Gems & Jewellery Fair (IGJF) from April 6-9^th, 2013 at the Pragati Maidan in New Delhi. GJEPC also announced that its signature event, the Indian International Jewellery Week 2013, will for the first time be held in New Delhi from April 4^th to 5^th 2013. After receiving a phenomenal response in Mumbai over the last 3 years GJEPC was keen to extend the show to the capital city of New Delhi. The objective of taking the show to New Delhi was to provide the jewellery designers and manufacturers of northern India, with their very own, exclusive platform to showcase their design and manufacturing prowess.

Celebrity News

Madalina Ghenea Wears Damiani to the Los Angeles, Italia Film, Fashion and Art Festival

The actress Madalina Ghenea wore Damiani Sahra earrings in white and pink gold with smoked quartzes and diamonds during the press conference of the “Los Angeles, Italia Film, Fashion and Art Festival” on 4^th February 2013. Madalina Ghenea will be the ambassador of the Festival which will take place at the Chinese Theater in Los Angeles from the 17th to the 23th of February, during the Awards Ceremonies period.

Jaeger-LeCoultre timepieces seen on the wrists of Sarah Jessica Parker in London and Dev Patel in Los Angeles

Sarah Jessica Parker was spotted on the Red Carpet wearing a Jaeger-LeCoultre Joaillerie 101 Art Deco watch at the British Academy of Film and Television Arts awards ceremony held at the Royal Opera House in London. And Actor Dev Patel arrived at the 19th Annual Screen Actors Guild Awards; Dev chose to wear Grande Reverso Utra Thin Tribute to 1931.

Anne Hathaway Wears Tiffany & Co. at the Les Miserables Premiere in Paris

Anne Hathaway wore the following Tiffany jewelry that is Tiffany Victoria Diamond Line Bracelet in platinum, Tiffany Metro Five Row Diamond Hinged Bangle in white gold, Elsa Peretti Diamonds by the Yard Stud Earrings in platinum to the Paris Premiere of Les Miserables.

Amy Adams wears Faberge at British Academy Film Awards

Amy Adams chose to wear Fabergé pink tourmaline and diamond Katharina Earring set and Fabergé Vagabonde Ring set with diamonds and coloured gemstones jewels at the 2013 British Academy Film Awards.

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