Market Report

Officine Panerai opens in Paris the first boutique designed by Patricia Urquiola

Officine Panerai opened its first boutique with the new concept developed by the Milan-based designer Patricia Urquiola. Located at number 5 of the prestigious Rue du Faubourg Saint Honoré, with an area of 100 square metres. Patricia Urquiola, the renowned Spanish designer, has reinterpreted the aesthetic codes and techniques of the company in a timeless design.

Market News

LVMH's Jewelry sales rise 2%

LVMH reported that revenue rose 4 percent year on year to $27 billion (EUR 21.4 billion) for the nine months that ended on September 30. The watches and jewelry segment recorded growth of 2 percent at $2.5 billion (EUR 1.972 billion), while on a comparable-basis and at constant-exchange-rates, the increase was 5 percent. During the third quarter, LVMH observed an acceleration of sales for its jewelry segment, driven by Bulgari. Overall, LVMH defined the global economic and financial market as "uncertain" and vowed to continue an operational strategy that is focused on innovative products and targeted geographic expansion for the most promising growth markets.

Dubai Mall is the best mall in the UAE

It is the most familiar, visited and all-round top-performing mall in Dubai, YouGov reveals. The international internet-based market research firm surveyed 1,007 UAE residents between September 22 and 30, 2014, to find out which mall in the emirate truly stands out. The survey reveals that respondents visit a mall approximately six times per month. Living in such a mall-driven culture, due to hot weather conditions not permitting outdoor activities, residents turn to shopping malls for entertainment. According to research, 22 per cent visits The Dubai Mall regularly, 17 per cent visits Mall of the Emirates and 16 per cent visits Deira City Centre.

Weak gold prices add glow to watch and jewellery show

The fall in gold prices is expected to result in strong sales for retailers at the Mideast Watch and Jewellery Show, a bi-annual event which opened in Sharjah on Tuesday. Gold prices are at a four-week high, but dropped 35 per cent from $1,888.70 an ounce in August 2011. The commodity touched $1,192.90 an ounce a four-year low on October 3 last year. The exhibition, now in its 37th edition, is taking place at the Expo Centre Sharjah until Saturday. Gold and diamonds were some of the popular imports into the UAE in the first three months of 2014.

Luxury growth weakest since 2009

Worldwide luxury goods sales could increase this year at the slowest pace since 2009 as spending falls for the first time in China and turmoil in Hong Kong and Russia curbs tourist consumption according to Bain & Co. Global sales of personnel luxury items from handbags to watches will rise 2 per cent to $282 billion. That would be the weakest growth since sales fell five years ago. Luxury sales will fall 2 per cent in China.

Christie will present as THE last lot of the October watch sale

Christie’s will present as THE  last lot of the October watch sale, a F.P. Journe The Chronomètre Bleu BYBLOS offered by a close and long standing friend of Christie’s, Mr. Claude Sfeir, to benefit the Rashid Centre for Disabled. 2014 marks the 20th anniversary of this outstanding humanitarian organization which is located in Dubai and cares for over 300 children from the age of 5 to 18 years old. The donated wristwatch is the latest creation by F.P. Journe to mark the brand’s 10th boutique-shop opening in Beirut.

Company News

DMCC to inaugurate its annual Middle East Gems & Jewellery Forum 2014

DMCC will inaugurate on the 9th of November   its annual Middle East Gems & Jewellery Forum 2014(MEGJF).  The one day forum is an invite-only DMCC initiative that brings together international, regional and local experts in a discussion about Gem and Jewellery Middle East trends, consumer preference and market opportunities. The full day panel discussions will be associated with a small jewellery, diamonds, coloured gemstones and pearls exhibition. The main objective of this one day gathering is to bring international experts and local participants to better understand regional trends and opportunities in jewellery.

Harry Winston reopens its Salon at Avenue Montaigne

Harry Winston celebrates the reopening of its historic salon in Paris, France, following a year-long renovation. These original architectural elements remain richly preserved throughout the renovated interior, which seamlessly blends the House’s heritage with a contemporary glamour. A  color palette of soft taupe, grey and iconic Winston blue defines the warmth and serenity of the space, while custom designed furniture in rich lacquer, antiqued bronze, and sumptuous silks reflect a variation on traditional Winston style.

Chopard reopens its Boutique in Dubai Mall with a new design concept

The Dubai Mall Boutique, flagship store for Chopard in the Middle East region, re-opened its doors on 13th October 2014 with the brand’s new Boutique design concept by renowned architect Thierry W. Despont. Light-toned wood (white oak), opulent leathers, silk and precious velvet, along with a fireplace.

IWC Schaffhausen officially announces its new Brand Ambassador

IWC Schaffhausen announces Lebanese television presenter, celebrity journalist and producer Raya Abirached as its new Brand Ambassador from the Middle Eastern region. Raya Abirached is one of the most popular faces from the Middle East, well known  as host for shows such as Arabs Got Talent and anchorwoman and producer of Scoop with Raya on MBC.  Born in Lebanon, Raya began her career as a print and broadcast journalist before moving to the United Kingdom in 1999 where she unexpectedly found herself in the glamorous world of media. Raya has been involved with IWC Schaffhausen for the past four years, covering regularly IWC events in Cannes, Geneva, Zurich and Dubai. 

IWC reveals first Ladies’ Collection

IWC that proclaimed that it was engineered for men, Launched its first Women collection at Watches&Wonders. The new Portofino Midsize collection offers a variety of case materials, as well as different dial and strap colours and diamond settings. The flagship in IWC’s Portofino Midsize line is a moonphase complication using the Calibre 35800 self-winding movement and its headline model has a red-gold case set with diamonds, with a further diamonds on the black lacquer dial. Other red-gold models are available with diamonds set on the case and on a black or white mother-of-pearl dial. There is also a stainless-steel version with the same diamond setting. All but two models in the new collection feature Santoni alligator leather bracelets that are produced exclusively for IWC by the famous shoe manufacturer. Two models with an equally Italian touch in the form of refined Milanese straps complete the collection.

Product Launch

La Montre Hermès presents Médor watch

First created in 1993, the Médor watch originated from one of the first objects produced by Hermès alongside the harness: the dog collar. The leather strap with its iconic “Clous de Paris” pyramid-shaped studs was then transformed into a ‘secret’ watch. This inspired creation comes in several colourful versions. Available in two sizes and graced with gold or steel pyramid studs, the Médor watch may be gem-set along its edges or entirely paved with diamonds.

Christophe Claret announces its first versions of Margot timepieces

Christophe Claret delivers the first Margot timepieces, in diamond-set white or red gold. The timepiece has been preselected by the jury of the Grand Prix d’Horlogerie de Genève in the Ladies High Mech category, the award for which will be presented at a red-carpet ceremony on 31 October, 2014. Margot’s automatic winding movement features an enchantingly innovative complication that lets the wearer ‘pick’ the petals off a daisy on the dial. The feminine gold case has a curved profile to marry with even the most slender of wrists. The natural mother of pearl dial exudes romantic femininity, revealing delicately engraved verses penned by Victor Hugo. A pair of gold-tipped, steel hands glides over the white, satin-lacquered titanium petals that tightly embrace the central citrine pistil.

Omega unveils Speedmaster “Grey Side of the Moon”

OMEGA reveals the Speedmaster “Grey Side of the Moon,” a pure ceramic and platinum enhanced state-of-the-art timepiece. This watch is constructed from white ceramic that has been transformed through to shimmering metallic grey, paired with a sand-blasted 950 platinum dial that gives the Speedmaster “Grey Side of the Moon” an elegant and classic look. And, in case things get dicey, the dial is protected by a box-form scratch-resistant sapphire crystal with anti-reflective treatment on both sides. Finished with a grey leather strap with red stitching on the underside.

Carl F. Bucherer presents MANERO PowerReserve

In the Manero PowerReserve, the functionality and design of the power reserve indication are perfectly combined, creating a striking and unique watch face. On a semicircular indication a hand shows the power remaining. As the power is used up, the hand slips into a red shaded area. The black dial is divided into an outer ring and an inner ring, which are differentiated by color. The outer darker circle is segmented by rose gold markers. The case is in rose gold. The strap is complemented with black alligator.

Celebrity News

Beyonce wears Messika Amazone Ring

To celebrate her Parisian escapade, Beyonce wears a stunning Amazone double ring in diamonds and rose gold.

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