Market Report

UAE ranked second in Retail Apparel Index with Kuwait and K.S.A ranking 4th and 5th respectively in the Middle East

The UAE has been ranked second on the A. T. Kearney Retail Apparel Index, which identifies the top 10 developing countries ranked in terms of market attractiveness, retail development, and country risk for their clothing retail industries. “From the overall point of view, the UAE has all the components to be a very successful market for apparel,” said Emanuele Savona, A.T. Kearney principal. This include that the country is growing in terms of GDP and consumption per capita and also has a vast young population attracted by big brands, Savona said. The other Middle Eastern countries, namely Kuwait and Saudi Arabia ranking at fourth and sixth respectively. The region and the UAE in particular remains a lucrative retail apparel market.

Market News

Swiss watch exports sustained growth in the Middle East with UAE 19.4% and KSA 13 %.

According to the recent figures released by the Federation of the Swiss Watchmaking Industry the Swiss watch exports dropped by 3% during the period Feb-June 2013 compared with the same period in 2012. However total export figures remain slightly higher for the first half of 2013 compared with the same period in 2012. The export value of CHF 10.2 billion for the first six months of 2013 is in line with expectations and leaves the industry on track to exceed last year’s overall export turnover. Paradoxically, export figures for more high-value watches in precious metals fell but this fall was offset by growth in steel timepieces, which account for one in two timepieces exported.
Markets In the first half of 2013, the fifteen main markets showed the following trend (total value in million francs and % variation by comparison with the first half of 2012):
1 Hong Kong 1,934.9 -11.1%
2 USA 1,085.8 +1.1%
3 China 677.7 -18.7%
4 Germany 607.9 +12.9%
5 Italy 576.6 +7.6%
6 France 555.8 -9.7%
7 Singapore 525.9 -2.6%
8 Japan 523.2 +3.7%
9 United Arab Emirates 482.9 +19.4%
10 United Kingdom 433.8 +28.4%
11 South Korea 237.7 +5.6%
12 Taiwan 218.1 -4.1%
13 Spain 199.9 +19.0%
14 Saudi Arabia 182.8 +13.0%
15 Thailand 132.2 -2.0%
While Hong Kong remains the number one export destination for Swiss watchmaking products, like all Far Eastern markets it showed a decline over the first half of the year (-11.1 per cent). China, in third place, showed a decline approaching 20 per cent and now accounts for barely ten per cent more exports by value than Germany, despite its huge size. Growth in the second-placed United States slackened but remained positive. Overall, Europe proved a very attractive market for the Swiss watch industry, except for France, which recorded a substantial fall. Germany and Italy posted significant advances, while the United Kingdom and even depressed Spain reported very strong growth. United Arab Emirates recorded a substantial increase of 19.4% while K.S.A has topped 13.0%.

Luxury BMW cars looking for direct sales via Internet

The luxury German carmaker BMW is planning to launch Internet and even house calls by BMW sales personnel for all models to boost future income, Reuters reported citing Wirtschaftswoche magazine. The magazine quoted the group's sales head Roland Krueger as saying "We can well imagine that Internet sales could be expanded to all models". BMW's "Mobile Sales Force" will also be able to visit clients at home, he added. The carmaker is already planning to sell its i3 electric car, to be unveiled to the public on July 29, via the Web, the magazine said in an advance release of a report to be published on Monday.

Dubai offers Gold as a reward for weight loss

Dubai’s heftiest residents are being encouraged to shed their excess pounds with the lure of real gold. Dubai Municipality launched last week the month-long competition with Dubai Gold & Jewellery Group and Dubai Multi Commodities Centre (DMCC). Those who lose a minimum of 2kg of weight will win 2g of gold, while the top three losers will each receive a gold coin worth AED20,000 ($5,445). DMCC executive chairman Ahmed bin Sulayem said he was willing to donate to the gold haul after struggling with his own weight loss in the past because of an injury.

Company News

Audemars Piguet ambassador Sachin Tendulkar talks about defining moment in his career

Audemars Piguet launched the fourth video in its series of intimate discussions with the brand’s Ambassadors where they talk about defining moments in their careers. This video features Indian cricket player Sachin Tendulkar largely considered as one of the greatest cricketers of all time. Back in 1983, when India won the World Cup, he admits he didn't know much about the game however it was this victory that ignited his passion for cricket.

George Hakim further progresses its global expansion

George Hakim established in 1875 will put the final touches on their new boutique in Geneva by the beginning of August. George Hakim Jewellery will cross borders again, this time to bring its exclusive and high end Jewellery pieces to Geneva at the heart of the watch and Jewellery Capital. George Hakim’s new boutique in Geneva will further progresses its global expansion plan for its Jewellery collection and Alain Philippe watches.

Montegrappa introduces new Chaos Watch Series with Sylvester Stallone

Montegrappa introduced new Chaos watch with celebrity-designer Sylvester Stallone and revealed the unique timepiece at the Westime store in West Hollywood. Adorned with skulls, reptiles, and roads of fire, the limited edition Montegrappa Chaos watch is an extension of its popular pen line of the same name, also designed by Stallone. The Chaos automatic analogue wristwatch is designed as a big, bold watch; the Chaos timepiece's most striking feature is the case, fashioned from a choice of silver or gold, with a black PVD-coated steel back. The Montegrappa Chaos watch line includes two separate editions in silver and gold. Each watchcase is complemented by a leather strap and skull motif buckle.

SICIS to open a new showroom in Beijing October 2013

SICIS will be inaugurating a showroom, in Beijing, China. The Italian maison has recently announced a distribution agreement with the Beijing, Di Lusso Gaopin (Beijing) Design Co. Ltd. The showroom, situated on the third floor of a building in the heart of Beijing, extends over a 600 sqm single-level area. Its rooms will present the magical universe of mosaic art.

Balmain supports Miss Switzerland contest

Balmain has always been closely associated with feminine elegance and memorable fashion. Since 2005, Balmain Watches has enhanced this corporate tradition with its sponsorship of the Miss Switzerland contest. The Miss Switzerland event is staged in a major Swiss city. The young winner of the Miss Switzerland contest was presented with a Balmain wristwatch during an evening television show. This year’s Miss Switzerland is Dominique Rinderknecht, a true sports aficionado whose good looks, bright personality and even brighter smile made her the winner of the competition. Dominique was elected Miss Switzerland 2013 at the Hallenstadion in Zurich.

Product Launch

Chopard launched the new “La Strada” ladies watches and jewellery collections

The House of Chopard and Co-President and Artistic Director of Chopard Caroline Scheufele welcomed a select group of international journalists to Rome and revealed the new and redesigned “La Strada” collection of ladies watches and jewellery. “La Strada” is one of Chopard’s iconic watch and jewellery collections, first launched in 1994. From the beginning, the collection shared the fantasy, poetic spirit, and aesthetic values of the glamourous 1950s as portrayed by late Italian movie director Federico Fellini. One of his frequent themes was the prevalence of love and life over what can sometimes be harsh reality. Clowns and comical situations often masked sadness and tragic circumstances, yet the beauty of emotions and perseverance of life always triumphed.

Bernhard Lederer revealed the Gagarin Tourbillon watch

The Gagarin Tourbillon by Bernhard Lederer and also celebrated the 50th anniversary of this historic event. The Gagarin Tourbillon features a 60-second flying tourbillon that rotates counter clockwise around the dial counter in 108 minutes. The tourbillon cage is formed by the word “VOSTOK” spelt vertically and curved around its perimeter. An integrated rotating magnifying glass allows appreciation of details on the dial. The dial of the Gagarin Tourbillon is hand-engraved in solid gold with the colour of the oceans either in galvanic blue or black, with a scintillating outer dial in synthetic black diamond. The case of the Gagarin Tourbillon is in platinum. The loupe to the dial is reminiscent of looking out of the Vostok space capsule towards the earth.

Corum revealed the Admiral’s Cup Legend 38 model

Corum’s latest model the Admiral’s Cup Legend 38 line appears in a High Jewelry version. The Admiral’s Cup Legend 38 is driven by a mechanical automatic movement, Caliber CO 082. The dial marking off the hours and minutes to the beat of 28,800 vibrations per hour. The sapphire case back, this fine mechanism with its 42-hour power reserve reveals its most distinctive feature: an entirely gem set white gold oscillating weight. The features pink sapphires, purple sapphires and diamonds reproducing the floral dial motif. Delicate petals and corollas, hand-crafted engravings around the white gold circumference of the case back further accentuate the inspired refinement of this creation.

Rado revealed HyperChrome UTC watch

The new Rado HyperChrome UTC watch can show two different time zones at the same time. The Rado HyperChrome UTC benefits from a high-tech ceramic case with the ground-breaking Rado monobloc construction. This ensures lightness, scratch-resistance and comfort. With Super-LumiNova for the indexes and the tips of the hands, the HyperChrome UTC is just as easy to read at night as during the day. The second time zone hand features a striking red or blue tip to ensure easy reading even with just a quick glance at the dial.

RJ-Romain Jerome revealed the Steampunk Chrono and the Titanic-DNA Cufflinks

The Steampunk Chrono Colours brighten up the Titanic-DNA collection with their retro-futuristic design. The Steampunk Chrono dispenses with a dial, Housed within a 50 mm-diameter case. The latter comprises over 330 parts and is held by four screwed pistons. This mechanical self-winding movement is endowed with a 42-hour power reserve. The polished steel used for the bezel contains authentic steel from the wreck lying 3,840 metres beneath the ocean, along with steel. The bezel and case in mirror-polished steel lend a new radiance to this model, while the inner bezel ring has been lacquered in a variety of bright colours: yellow, red, blue, green or orange. The steel cufflinks appear in five new colour versions issued in two 99-piece limited series. The steel disc is yellow, red, blue, green or orange.

JEANRICHARD revealed a new summer of colour watch models

JEANRICHARD unveiled Green, blue, yellow, red and aubergine with its collection of rubber straps for the Terrascope, Aquascope and Aeroscope models. The straps are Supple, robust and comfortable and designed as faithful companions to all those in search of adventure, on earth, water, or in the skies. These straps harmonise with the original design of the brand’s emblematic tonneau case, with its large round bezel, alternating polished and satin-brushed finishings and various coatings.

U-Boat unveiled a new range of smaller size Chimeras with a brand new "innovation"

U-Boat has revealed a new version for the Chimera model in size 43mm. the versions of Chimera, in materials from bronze, to Silver 925, to burnished steel will be available also embellished by emmeralds, rubies, white and black diamonds, not to mention an amazing new range of straps, great example of fine Italian handiwork with exclusive symbols in silver and precious stones crafted into the straps. Italo decides to add a new innovation: a patented system for the retrieval of the watch crown. U- BOAT’s iconic left hand crown and its crown guard is a sculpted pusher that can be depressed to eject the inner crown from its recessed position. This enables ease of adjustment for both date and time.

Exhibitions & Events

Vacheron Constantin’s the Sound of Time event to be in Hong Kong in September 2013

The first event to be held in Hong Kong from September 25th to 28th 2013, as part of Watches & Wonders, Vacheron Constantin offers a tuneful and luminous experimental route presenting some of the finest striking watches. From September 25th to 28th 2013, the Manufacture is turning the spotlight in Asia on an array of striking watches. Visitors to the exhibition will be able to discover an 1812 red gold quarter-repeater pocket watch with a guilloché dial testifying to this longstanding tradition, along with an 1827 pocket watch with quarter repeater, jumping hours and small seconds.

Frédérique Constant and Only Watch 2013 event

Frédérique Constant has been an active participant in an event known as “Only Watch”, whose sole purpose is to raise funds in support of the centre carrying out this vital research. This year’s auction will be held on September 28, in the glamorous setting of Monaco’s spectacular Hôtel Hermitage. Frédérique Constant is donating a unique “Double Heart Woman Set” composed by a unique Lady Automatic Double Heart Beat timepiece with a dazzling rose gold case “pavé” with sparkling diamonds. On the case back, there is a hand “Only Watch 2013” has been engraved.

Avakian sparkles in Monte-Carlo

Avakian will illuminate the Monegasque coastline by inviting the Principality’s residents to discover its breathtaking creations, on display from July 31st till August 18th, 2013, at the Métropole Hotel in Monte-Carlo. To launch this magnificent event, a glamorous cocktail will be hosted by Edmond Avakian on August 1st around the pool of the Métropole Hotel, in the presence of the Principality’s well-heeled guests. The evening will be a true reflection of the Avakian Jewelry House and its famed colorful and intricate jewelry creations.

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