Market Report

Post Show Report: Jewellery Arabia 2011 Shines On

Manama, Bahrain: Jewellery Arabia 2011, the 20th edition in the series of high profile exhibitions serving the Middle East’s jewellery and watch market, concluded on 26 November having reaffirmed its position as the definitive industry event of its kind in the region.

The highly successful 5 day exhibition, held under the patronage of His Royal Highness the Prime Minister of the Kingdom of Bahrain Prince Khalifa bin Salman Al Khalifa, attracted a total of 42,500 jewellery trade buyers and private collectors.

Of the total number, 9,989 visitors (23 percent) were drawn from the region’s single largest jewellery market Saudi Arabia, with significant support also coming from Kuwait, Qatar, UAE, Oman and other neighboring countries.

Jewellery Arabia 2011 spanned 16,500 square metres of space at the Bahrain International Exhibition and Convention Centre and showcased 550 companies from 27 countries.

National pavilions from leading jewellery export countries included Brazil, Hong Kong, India and Malaysia. Jewellery Arabia 2011 also welcomed an official delegation of Bahrain exhibitors coordinated by Tamkeen.

The latest high quality jewellery collections and luxury watches from world famous jewellery houses including  Breguet, De Beers, Chanel, Chopard, Corum, Harry Winston, Hublot, Omega, Panerai, Patek Phillipe, Piaget, Van Cleef & Arpels and Vacheron Constantin amongst numerous others also went on display – further consolidating Jewellery Arabia’s reputation as the Middle East’s most prestigious jewellery event.

A strong Lebanese and GCC contingent drawn from the region’s most exclusive jewellers complimented this line up. Amongst them were Bahrain’s leading jewellers – Bahrain Jewellery Centre, Asia Jewellers, Al Mahmood Pearls and Al Zain – who brought together stunning collections of international brands in boutique formats.

The Minister of Industry and Commerce and Chairman of Bahrain Exhibition and Convention Authority Dr. Hassan A. Fakhro praised the Jewellery Arabia series in a statement, “This exhibition has firmly established itself as the largest and most prestigious jewellery and watch event in the Middle East since its inception in 1992. This prime industry event has special significance to Bahrain. Known as the ‘Pearl of the Gulf’ due to its illustrious pearling history and strategic location, Bahrain has been a destination for traders and craftsmen from surrounding countries for more than 4,000 years. In these modern times the Jewellery Arabia series perpetuates this rich tradition of international trade and commerce by bringing together the finest jewellery houses and watch manufacturers from around the world”.

“We are delighted with the outcome of Jewellery Arabia 2011. The continuing importance of the Jewellery Arabia series to the watch and jewellery industry is evidenced by the event’s sheer size, extensive exhibitor participation and healthy visitor attendance despite ongoing challenges both internationally and locally. Feedback from exhibitors indicates that sales were brisk enough to either exceed or meet the majority of participants’ exhibition objectives,” said Arabian Exhibition Management’s director of sales and marketing Fawzi Al Shehabi.

The success of Jewellery Arabia 2011 is further reflected in the fact that 80 percent of available space at next year’s show, Jewellery Arabia 2012 which is set to take place from 27 November to 1 December 2012, was sold before the close of the exhibition.

The Jewellery Arabia series of exhibitions is organized by Bahrain's leading exhibition organizer – Arabian Exhibition Management WLL, and marketed worldwide by London based Overseas Exhibition Services Ltd and Singapore based International Expo Management Pte Ltd.

These companies are all members of Allworld Exhibitions, a global network of exhibition organizers with 35 offices worldwide, who currently organize over 150 trade exhibitions biennially.

Market News

Ahmed Seddiqi and Sons donates Dh7m hybrid OT system

A highly specialized hybrid operation theatre (OT) system, first of its kind in the UAE and installed at a cost of Dh7 million, was inaugurated at the MRI Section of Rashid Hospital. Donated by Ahmed Seddiqi and Sons, the new machine comes with an operating system and is capable of providing angiography, CCT, computer tomography and 3D imaging while the surgery is going on. The new system also has a 3D roadmap, which allows doctors to get accurate imaging at any point of time. The system allows multiple teams to manage complicated cases at one time, which results in better outcomes. Qadhi Saeed Al Murooshid, Director-General of the Dubai Health Authority (DHA), inaugurated the Hybrid OT system in the attendance of doctors, media persons and officials of the DHA and Rashid Hospital.

Jewellery shoppers to get the chance to win 19kg of gold

During the forthcoming Dubai Shopping Festival (DSF), jewellery shoppers will have a chance to win 19 kilograms of gold during the period of the event. The Dubai Gold and Jewellery Group (DGJG) announced the details of the Gold Mega Raffle, one of the headline raffles during the upcoming edition of DSF.  Shoppers spending Dh1,000 or more on jewellery at participating outlet will receive coupons to enter the raffle draw. Raffles will be drawn between 10 and 11pm daily at the Burj Steps arena alongside the Burj Khalifa.  The campaign will reward shoppers with half a kilo of gold every day for 32 days. One lucky winner will receive a bumper prize of three kilograms of gold on the final day of DSF. The shopping festival will start from January 5 to February 5, 2012.

Dubai Duty Free reaches 2011 target

With sales of Dh5.31 billion in the year, Dubai Duty Free has reached its sales target for 2011. It was a 15.69 percent increase over the previous year, according to the airport retailer. Sales of perfumes achieved Dh803 million, an increase of $40 million over the previous year, according to DDF, with the category thus accounting for 15 per cent of sales.  This was followed by liquor and gold sales of Dh744 million and Dh591 million respectively, an increase of 18 percent (for liquor) and 20 percent (for gold) year-on-year. Meanwhile, sales in December helped increase DDF's sales for 2011 by setting a new monthly sales record of Dh589 million. The operation's 28th anniversary on December 20 offered customers a 25 per cent discount on a range of products, resulting in a massive surge in sales and a new daily record.

Dubai Airports posts 7.8 percent traffic growth

According to Dubai Airports, passenger at Dubai International Airport has increased 7.8 percent during the first 11 months of 2011 to 46.28 million. Passenger traffic grew by 8.9 percent in November to 4,431,673, compared to 4,070,296 in the same period in 2010. The GCC provided the largest increase in passenger numbers in November (134,491), followed by South Asia (77,375), Russia and the CIS (69,786), and Western Europe (48,830). The contraction in traffic on Middle Eastern routes continued in November, failing by 17,538 passengers. During this month, aircraft movements totalled 29,093, up 8.5 percent from 26,823 in the same month of 2010. The year to date (January-November) flight movements increased by six percent to 296,799, compared to 279,888 in the same period in 2010.

Company News

Hermes opens its first store in Kuwait

On 13 December 2011, Hermes celebrates the opening of its first store in Kuwait City, at the foot of the Al Hamra tower, whose spiral form soars to a height of 412 metres. Hermes takes the prow of the luxury mall that was recently built on the site of the first Kuwaiti cinema, inaugurated in 1958. With its striking facade featuring openwork metal panels, the 300m2 store reflects the spirit of the Parisian house interpreted by the architecture agency RDAI, in charge of the design of all Hermes stores worldwide. Visitors can move seamlessly from one Hermes Universe to another and discover the Parisian House’s 16 metiers, as well as part of its art collection. Two prints by Baldizzone are on view at the store. They belong to Hermes’ collection of contemporary photography.

Jaeger-LeCoultre celebrates the Global Champions Tour Final

The Global Champions Tour (“GCT”), the most prestigious championship in showjumping, came to a spectacular conclusion at Al Forsan International Sports Resort in Abu Dhabi. The strong crowd and Royal attendance by Sheikh Nahyan bin Mubarak al Nahyan provided a fitting end to the world’s most magnificent tour for international showjumpers. Jaeger-LeCoultre, official timekeeper of the Global Champions Tour, not only presented special awards for the winners, it also celebrated the 80^th anniversary of its iconic Reverso watch, a reversible watch linked to the equestrian world through the conception in 1931 of a swivelling case with a hard back in order to protect the glass of the watches of polo players against the hard knocks of a game of polo. Jaeger-LeCoultre will be the official partner and time keeper of the Tour for the next seasons.

Zenith unveils its new Boutique dedicated to precision mechanical Horology

On December 19th 2011, a boutique exclusively dedicated to watches from the Swiss watch manufacturer Zenith has opened on one of Geneva’s busiest streets, at no. 35, Rue du Rhone. This new concept store is far more than just a boutique; it’s a whole universe featuring an interior design that draws visitors into a temple of Swiss watchmaking tradition, the Manufacture Zenith. This legendary firm is still located in the exact spot where its founder Georges Favre-Jacot first established it in 1865. To this very day, it is there that each Zenith timepiece is developed, produced and assembled, benefiting from expertise handed down and enriched for almost one hundred and fifty years.

Girard-Perregaux Patrizzi Pocket Expert WW.TC Book

The sentiment expressed by Osvaldo Patrizzi when he talks of his watchmaking collection, the timepieces that he appraises or the works that he publishes, including the famous Patrizzi Pocket Expert series. This pocket-sized collection aims to offer collectors a summary and an exhaustive overview of the most important pieces in watchmaking. After the Tourbillon with Gold Bridges, Osvaldo Patrizzi and his team of experts turned to another Girard-Perregaux icon, the ww.tc (world-wide time control) which has made its name as an essential reference among watches that display world times. The book also recounts the invention of universal time from Copernicus’ ingenious heliocentric system to the universal standardisation of time.

CHARRIOL builds a strong partnership with Rivoli

CHARRIOL has recently forged a new partnership with the Rivoli Group, one of the largest importers, distributors, and retailers of luxury products in the whole region. The Swiss luxury brand, driven by its historical motto “L’Art de Vivre la Difference”, has been introduced in 15 Rivoli points of sale among some of Dubai’s most important shopping malls, such as the Mall of the Emirates, Dubai Mall, Burjman Mall, and Deira City Center. More points of sale are due to open in 2012. This new venture with Rivoli will offer CHARRIOL the best possible exposure in Dubai, enhancing brand recognition and awareness on some of its latest creations such as the “Celtica”, a sporty 44mm-diameter watch which features the iconic and unique CHARRIOL cable design.

Tabbah celebrates its 150 years

Tabbah celebrates its 150th anniversary in 2012. The craft of Tabbah has been passed from father to son. Today it is a family owned business run by Nabil Tabbah and Nagib Tabbah, respectively 4th and 5th generation. The Tabbah philosophy is dedicated to producing unique, inspirational works of art that reflect the blending of European and Oriental influences matched with some of the world’s most sought after precious stones.

Fiat and Gucci presents the Italian design icon “500 by Gucci” to the Middle East

Fiat 500 by Gucci, an important and unique partnership between two of Italy's most respected brands, is introduced to the Middle East. In the year that sees the celebration of both Italy’s 150th anniversary of unification and Gucci's 90th anniversary, Gucci and Fiat have created a special edition of the iconic 500 which has been customized by Gucci’s Creative Director Frida Giannini in partnership with Fiat's Centro Stile. Fiat 500 by Gucci is presented to the Middle East with an event held at the Gucci store in the Dubai Mall.  Fiat 500 by Gucci has exteriors in two colors, Black or White, two distinct but complementary souls. The black version, with its shiny chrome details teamed with interiors that play on the sharp black and white contrast with its more aggressive and contemporary look, and the white version with the satin chrome details and ivory/black interiors for a softer, sophisticated look.

Maurice Lacroix appoints Marc Glaser as new Managing Director

Following the acquisition of a majority shareholding by DKSH in the Maurice Lacroix Group in summer 2011, the expectations of over proportional growth in sales, particularly in the Asia region, have been fulfilled. To position the Maurice Lacroix brand and product development even closer to the market and to the needs of the rapidly growing customer groups, the function of a Managing Director Maurice Lacroix is being created, which will be independent of the management of the long-established watch case manufacture Queloz in Saignelegier and that of the producer of movement components, La Manufacture des Franches-Montagnes. Effective on January 1, 2012, the newly created role of Managing Director Maurice Lacroix has assumed by Marc Glaser, who has held various executive positions at Maurice Lacroix over the past seven years.

Product Launch

Hublot Unveils the Limited Edition Jet Li Watch

On 16 December, Hublot brought "The Art of Fusion" to Dalian, China, where it held a grand launch ceremony for its Hublot Jet Li limited edition watch and a breathtaking performance of one hundred Tai Chi performers to promote Chinese Tai Chi culture. Present during the launch were Mr. Ricardo Guadalupe, Managing Director of Hublot, and Mr. Jet Li, Hublot ambassador, internationally renowned movie star, Chinese martial arts champion, philanthropist and social sector leader, as well as the founder of the acclaimed One Foundation. The limited edition Hublot Jet Li watch designed together by Jet Li and Hublot will be limited to 200 pieces globally, and features a matte black open-worked skeleton with Chinese screen decoration on the watch face, with an Yin-Yang symbol and the signature of Mr. Jet Li on the back.

Audemars Piguet launches the Royal Oak Offshore Sebastien Buemi Limited Edition

Dedicated to its brand ambassador, Formula 1 driver Sebastien Buemi, Audemars Piguet has produced a limited edition of 250 pieces of its Royal Oak Offshore chronograph. The Royal Oak Offshore Sebastien Buemi model has a 42 mm case made of grade 5 titanium, with a sandblasted finish and polished bevels, and the signature octagonal bezel is in black ceramic. The “Mega Tapisserie” motif characteristic of the Royal Oak Offshore is interpreted in black with luminescent hour-markers, three-color (black, grey and white) sub-dials and red chronograph function hands to ensure optimal legibility of the elapsed times. The outer minute circle is in Sebastien Buemi’s favorite color, yellow, which has been an integral part of his equipment for years, particularly on his racing helmet.

Graff unveils Butterfly diamond collection in UAE

Damas has recently unveiled Graff’s Butterfly Collection. The collection is one of Graff’s signature collections and is now available at the Graff Dubai Mall store.  Available in bracelets, rings, pendants and earrings, this collection features a range of Graff’s finest gemstones, from classic yellow and white diamonds to rich blue and pink sapphires, stunning emeralds and elegant rubies. The butterflies are represented as a simple arrangement of four pear shape stones, a classic motif that can be seen in a variety of stunning gemstone forms.

Ulysse Nardin and Yuvraj Singh introduces a limited edition timepiece

On 11^th December, a crowd of journalists and many VIPs were gathered in the prestigious Four Seasons Hotel in Mumbai to attend the launch of the timepiece "Yuvraj", a limited edition of the Executive Dual Time version renowned for its unique time zone quick setting system of the Swiss watch manufacture Ulysse Nardin and signed to the name of one of the best-known cricketers in the world, Yuvraj Singh. During the conference, Patrik Hoffmann, CEO of Ulysse Nardin, expressed his delight to associate the brand image to the extraordinary personality of Yuvraj Singh.

Magic Gardens of Piaget

There’s magic in the Garden of Piaget, where a rose reigns supreme. This ring, inspired by the Yves Piaget rose and featuring stylized petals entirely paved with diamonds, takes nature to new heights. It is a precious bloom that succeeds in creating the illusion of a real flower, a diamond beating at its heart. Magic Gardens of Piaget Rose motif ring in 18k white gold, set with brilliant-cut diamonds.

Aigner unveils its latest Fine Jewellery Collection

These beautiful pieces of jewellery feature a one-of-a-kind design special to Aigner and representing the soul of the brand. The 9 carat gold plated chain holds a beautiful Aigner horseshoe shaped pendant, with 3 different logos attached to each other, forming a delicate pattern. The gold plated pendants are in three colors – white, gold, and rose gold. The key shaped pendant on the other hand also features the logo, this time inserted inside the key, which is attached to a gold plated chain. The pendant features two colors – white and yellow gold.

Exhibitions & Events

5th edition of IIJS Signature

The Gem & Jewellery Export Promotion Council (GJEPC) has organized the 5th edition of IIJS Signature, 2012 to be scheduled from January 6th-9th, 2012, at NSE Grounds, Goregaon, Mumbai. IIJS Signature 2012 will see many exciting new features. As before, this is a show that focuses on the sourcing requirements of retailers. The products on display are of the finest quality and contemporary design, housed in well-defined segmented sections for precious jewellery and loose diamonds & colored gemstones - a veritable treasure chest for retailers from across the country and overseas. Also, an International Pavilion - for leading overseas manufacturers of loose stones and precious jewellery will be constructed in the venue.

The 22nd Salon International de la Haute Horlogerie (SIHH)

The Salon International de la Haute Horlogerie (SIHH), a foremost event for watches and watchmaking now in its 22nd year, will be held from January 16th to 20th, 2012 in Palexpo, Geneva. Year after year, some 12,000 retailers, journalists and brand representatives travel to this exclusive, invitation-only event for a unique opportunity to view the latest timepieces by the eighteen exhibitors for which the SIHH is a showcase for artistry and expertise, daring and innovation. Once again, the SIHH will transform 30,000 square metres at Palexpo, Geneva into a welcoming, business-focused venue where exhibitors can confirm their creativity and identity.

HKTDC Hong Kong International Jewellery Show 2012

The global jewellery industry is in the final stages of preparation for a major trade event, HKTDC Hong Kong International Jewellery Show 2012. The Asia’s largest Spring Jewellery Show has secured earlier dates – 16 to 20 February at the world-class Hong Kong Convention & Exhibition Centre. The five-day trade event will host some 3,000 exhibitors from 46 countries & regions. As well as being an important trading platform, the Hong Kong International Jewellery Show will hold a series of seminars and parades during the fair, to disseminate market intelligence on topics such as the "Outlook for Gold in Emerging Markets” and inspire buyers with showpieces on live models.

BASELWORLD 2012

For a period of eight days, starting March 8 to 15, 2012, the key brands of the luxury goods sector will be presenting their innovations in Basel. The preparations for BASELWORLD 2012 are advancing successfully. All the eminent watch and jewellery brands, and also all the chief suppliers of precious stones and pearls, will be present in Basel. As the world's leading show, BASELWORLD aspires to provide positive stimuli for the industry. The show management is convinced that BASELWORLD will live up to this aspiration in the coming year too, and is expecting some 1,800 exhibitors and more than 100,000 professional visitors from all over the world at BASELWORLD 2012.

Celebrity News

Kate Beckinsale selects Chopard for the Deleon Tequila Tidal Issue Dinner

On 13^th December, actress Kate Beckinsale looked stunning in a pair of white diamond drop earrings set in white gold and a rose-cut diamond cocktail ring (15 carats), set in platinum during the Deleon Tequila Tidal Issue Dinner held in London.

Charlize Theron wears Harry WInston on the Red Carpet

Harry Winston dressed actress Charlize Theron for the premiere of her new film, “Young Adult” held at the Academy of Motion Pictures Arts and Sciences on 15 December in Beverly Hills, California. Charlize wore a Diamond Traffic Earrings, 3 carats, set in platinum and a Diamond Carpet Bracelet, 60.5 carats, set in platinum.

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