Market Report

Jaeger-LeCoultre announces the results of online auction in partnership with UNESCO

Within the framework of its partnership with the International Herald Tribune and the UNESCO World Heritage Centre, Jaeger-LeCoultre held its 4th annual online auction of a unique watch. Online bidding was held on March 12-15, 2012 and the winning bid reached 11,220 euros. The proceeds from the sale will be entirely donated to the protection of an exceptional marine site in the Philippines that is part of the UNESCO World Heritage Marine Programme. This year the proceeds of the Deep Sea Vintage Chronograph sale will be donated to the Puerto-Princesa Subterranean River National Park in the Philippines that features a spectacular landscape with its underground river that emerges directly into the sea. The prototype N°1 of the Deep Sea Vintage Chronograph is a fully functional original timepiece hand-crafted by watchmakers of the Manufacture Jaeger-LeCoultre.

Market News

UAE economy expected to grow to almost 4 percent in 2012

The UAE's economy is expected to expand almost 4 percent this year, the Gulf country's Economy Minister Sultan bin Saeed al-Mansouri said. “The UAE economy is expected to grow by almost 4 percent in 2012,” he told a conference in the UAE capital. “This is an estimate; by the end of the year it could be better.” Analysts polled by Reuters in December forecast the UAE’s gross domestic product would rise 3.1 percent in 2012 after an estimated 3.9 percent expansion last year. Robust oil prices and strong trade flows with Asia have helped the UAE as one of the top five crude oil exporters globally.

Middle East online advertising spend increased by 80 percent in 2011

The internet advertising spend in the Middle East has toped $180 million in 2011 compared with $100 million in 2010, with an average increase of 80 percent. The 2011 online advertising spend in 2011 represent almost 3 percent of the total Advertising Spend in all of the Middle East markets compared with 28 percent in the UK, 13 percent in Singapore and 20 percent in the USA. According to a recent survey published in the UAE, the expected online Advertising Spend in the Middle East will score a yearly increase of 50 to 70 percent.

Company News

Hublot & the Miami Heat hosts a glamorous evening

Since the start of their relationship in December, 2010, Hublot and the Miami HEAT have shared the same strategic mission - to be the most creative, forward thinking, prepared and hard-working organizations in their respective fields. This determination has inspired the creation of the King Power Miami Heat Chronograph, a distinctive piece that combines the best of both brands. Proceeds from the sales of the exclusive Miami HEAT limited edition timepiece will go directly to the Miami HEAT Charitable fund to benefit the South Florida Community. The Miami HEAT hosted a glamorous evening on 21 March 2012 to unveil the KING POWER MIAMI HEAT limited series with the presence of Jean-Claude Biver, Chairman of Hublot, Dwyane Wade & Gabrielle Union and the Arison & Riley families.

Arnold Schwarzenegger at Carl F. Bucherer

During the Baselworld, Arnold Schwarzenegger makes a surprise visit at Carl F. Bucherer to order a Patravi Travel Tec, GMT.

Harry Winston hosted a charity dinner in Abu Dhabi

Harry Winston displayed its most prestigious collections at a charity dinner in support of the Make-A-Wish Foundation ® United Arab Emirates. Part of the proceeds of the sales of the evening will be donated to the Make-A-Wish Foundation ® United Arab Emirates, to enrich the lives of children with life-threatening medical conditions in the Middle East Region. The dinner took place at the Abu Dhabi Park Hyatt Hotel under the patronage of His Highness Sheikh Dr. Sultan Bin Khalifa Zayed Al Nahyan, Advisor to the President of the UAE and Ruler of Abu Dhabi, and Her Highness Sheikha Sheikha Bint Saif Al Nahyan, Chairperson of the Make-A-Wish Foundation ® United Arab Emirates. Personalities and guests who attended the charity dinner were able to discover the fine jewelry and rare timepieces created by Harry Winston.

Arnold Schwarzenegger visits RITMO MUNDO booth

Arnold Schwarzenegger has visited the RITMO MUNDO booth on the 1^st day of Baselworld.  He celebrated RITMO’s 10 year anniversary with the friendship visit to see the brand’s latest collection and review the new REFLEX watch. 

Bremont wins the ‘Breakthrough Brand’ Awards

Bremont Watch Company had the honor of winning ‘Breakthrough Brand’ at the 2012 Luxury Briefing Awards which took place on 14th March 2012 at the Corinthia Hotel, London. This was the 16th Annual Luxury Briefing Awards and being referred to as the ‘Oscars’ of the industry, the awards are recognized as the real insider’s view on the best and the brightest luxury has to offer. The awards have been extended to reflect the changing face of luxury and to celebrate the diversity of talent, ideas and excellence across the industry. Bremont, Mary Katrantzou, Spencer Hart, Stella McCartney and Burberry were among the winners for a luxury briefing award.

Yvel Wins the Centurion Design Award for Pearl Category

On January 31, 2012, Yvel won the coveted Centurion Design Award for the Pearl category for the second year in a row.  The $200,000 winning design comprises a 26 year old Australian South Sea baroque pearl set with all natural black and white diamonds, hung as a pendant on a long black diamond lariat chain (photo below). The piece is typical of the design aesthetic of Isaac and Orna Levy, the owners and designers of Yvel.  The husband and wife design team seeks to beautifully enhance the unusual in Mother Nature, fusing precious treasures from the sea and the earth into wearable works of art. The award is one of a long line of design awards for the Levy design duo and their Yvel brand, which celebrated its 25^th Anniversary in 2011.

Product Launch

Van Cleef & Arpels unveils its latest High Jewellery collection at Design Days Dubai

Van Cleef & Arpels reaffirmed its standing as a design innovator and creative mastermind at Design Days Dubai, with the regional premiere of its newest High Jewellery collection Bals de Legende^TM. By supporting the fair, the Maison once again underlined its commitment to creative excellence and craftsmanship, inviting visitors to step into an enchanting world of exclusivity, technical prowess, beauty, and above all art and design. Consisting of only one-of-a-kind creations, Bals de Legende^TM presents five sets of jewels inspired by five extraordinary balls of the 20^th century, and reflecting the magnificent experiences of each. The fair and the extraordinary Van Cleef & Arpels showcase were held from 18-21 March 2012.

Bogh-Art presents its latest and finest jewellery creations

Bogh-Art Geneve is proud sponsor of Magic of Persia 2012. Inspired by the walls of the Taj Mahal, inlaid with precious stones, Bogh-Art has presented its latest and finest inlay and high end jewellery creations today, March 25 at Mina A ’Salam Hotel, Madinat Jumeirah in Dubai.

Girard-Perregaux creates unique timepiece for Christie’s Annual Green Auction

Girard-Perregaux is proud to announce the creation of a unique timepiece to be auctioned during Christie’s Annual Green Auction on April 11, 2012. The auction, hosted by Christie’s for the third time, will be celebrated on April 11, 2012 at the Rockefeller Center, with a companion online auction hosted by Charitybuzz from March 29 -April19, 2012. Following an exclusive cocktail reception, the live auction will offer attendees the opportunity to purchase one-of-a-kind fantasy lots including a unique Girard-Perregaux timepiece. The Sea Hawk “Green Auction” 1000 features a steel and rubber 44 mm case and houses a Girard-Perregaux manufacture automatic movement with 46 hours power reserve indicator and is water resistant to 1,000 meters.

Glam Rock introduces a new watch with the click of a finger

Glam Rock is launching the SoBe Collection, a groundbreaking concept that offers new perspective on convertible timepieces. SoBe’s interchangeability comes with the click of a finger and goes beyond the ability to simply change the straps of a watch. The faces of SoBe Watches also offer removable case covers. Drastic style changes can be made in seconds, popping off with a click, therefore offering a unique, patented, new product to the marketplace. The metallic case cover around the dial can be snapped on and off with an easy movement, allowing users to effortlessly change the look of the watch with their mood just as one can go from beach to shopping to partying in South Beach Miami, hence the SoBe mood.

Chronorally Automatic Chronograph by Edox

The WRC timepiece collection by Edox is now augmented by a new arrival, the new Chronorally Automatic Chronograph. The black PVD coating reinforces the piece's masculinity, while the black carbon fibre dial highlighted with silver indices and markings offers a further touch of class. The silvered tachymeter scale provides the watch with extra functionality. Designed for drivers and all car and motor sport enthusiasts, the new Chronorally Automatic Chronograph offers all usual features of the collection with the profiled rubber strap and the oversize pusher in eloxed aluminium. The automatic movement, the V6 engine of horlogerie can be admired thanks to a wide and transparent caseback, surrounded by a black aluminium ring. The 42 mm diameter is ideal for all wrists and the 100 meter water resistance makes the new Chronorally Automatic Chronograph the perfect partner for all motor or water sports.

Graff unveils Diamonds on diamonds collection in the UAE

Graff Diamonds has announced that its latest collection, ‘Diamonds on Diamonds’, is now available at its boutiques across the United Arab Emirates. Swirls of dazzling white diamonds set against a stunning backdrop of even more diamonds are at the heart of this young and vibrant collection designed to capture the intrinsic spirit of the diamond and its incomparable light and everlasting quality. Diamond necklaces, earrings and cocktail rings sparkle brilliantly as they catch the light; yellow diamonds, sapphires and rubies evolve the theme with a bright burst of color, accentuating once again the radiant white brilliance of the diamond swirl. Within the UAE, Graff stores are located in Dubai Mall and now at the Burj Al Arab. 

Saint Honore presents the new Audacy

The first impression of the beautiful and intriguing new Audacy watch from SAINT HONORE is its square, asymmetric shape. This unique timepiece will make heads turn with its bold, innovative design.  With the rounded corners of the case, Audacy differs from traditional square watches and offers an appealing softer shape. Its enchanting design reflects a multifaceted, feminine world, with its couture styling, collection of dials and sparkling diamonds. The central lug that links the case to the strap gives Audacy its light, streamlined shape, which is perfectly complemented by a choice of highly fashionable patent leather straps.

Damas launches the new Akshaya Tritiya 2012 collection

Damas has launched its new Akshaya Tritiya 2012 collection.  The 10 new designs within the collection have been crafted to welcome the ‘color of prosperity’ associated with the auspicious occasion. The word Akshaya means ‘that which never diminishes’ and the day is ideal for beginning new ventures as it is believed that all investments made on this day appreciate. The day is believed to bring good luck and success, and will be celebrated this year on April 24, 2012. Damas has also created a number of other beautiful designs for Akshaya Tritiya, which is suitable for all ages, tastes and budgets.

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