Market News

Swiss watch exports remains strong in 2012

In a recent report by the Federation of the Swiss Watch Industry FH the shipments of Swiss watches to the U.S. market have remained strong through the first nine months of the year despite a small decline in September with Hong Kong remains the No. 1 market for Swiss watches, with exports totaling $3.38 billion, up 14 percent as compared to the January-September 2011. The United States remains the second-largest market for Swiss watches, with exports climbing 13 percent through the first nine months of the year, from $1.48 billion to $1.68 billion. Since 2010, exports to the U.S. market are up 37 percent.

Bahraini based Investcorp buys Georg Jensen

The Bahraini-based offshore investment bank Investcorp has recently acquired jewelry-maker Georg Jensen of Denmark for $140 million. With this acquisition Investcorp aims to expand the brand awareness to a global luxury brand. The current chief executive of Georg Jensen, will continue to lead the management team.

Tiffany & Co. plans new multi store 10,000 sq foot flagship in Paris

Tiffany & Co. plans a new flag shop in Paris of approximate 10,000 sq. foot that will be ready in 2014. The company’s new store in Paris will be a multi-level store and will be located in the prestigious Champs Elysees area. Tiffany & co has recently opened an office in the Middle East in Dubai and all preparations are on the way to celebrate the 175^th anniversary of the company in a style.

1,500 gold shops in Saudi closed after heavy losses

According to the Makkah Chamber of Commerce and Industry, more than 1,500 gold and jewelry shops in the Kingdom have been closed down during the past five years as a result of increasing gold prices and decreasing demand for jewelry. Ziyad Farsi, deputy chairman of Makkah Chamber, said many gold traders in the Kingdom had suffered heavy losses as a result of a sharp fall in sales. "Many of these traders have been supporting their jewelry shops using revenues from other businesses," Farsi pointed out in a recent report to Arab News newspaper.

Dubai Duty Free awarded as “Best Airport Retailer of the Year”

For the sixth time, Dubai Duty Free won the top prize at the Frontier Awards in Cannes, where they were named the “Best Airport Retailer of the Year 2012”. Hailed as the “Oscars of Industry”, the Frontier Awards are held to coincide with the annual Tax Free World Association (TFWA) exhibition in Cannes, with this year’s ceremony attracting more than 500 guests from the industry.

UAE ranks number 16 among Hong Kong’s top trading partners

Benjamin Chau, Deputy Executive Director of Hong Kong Trade Development Council (HKTDC) has recently visited the UAE during which an MOU of expands business opportunities between Dubai and Hong Kong cooperate for trade promotion was signed, aimed to promoting trade between Dubai and Hong Kong. Both parties agreed to intensify their efforts to organize more activities to achieve their objectives.

Company News

Vertu opens its newest boutique in Etihad Towers, Abu Dhabi

Vertu has opened a new point of sale in Etihad Towers, Abu Dhabi. Perfectly designed and positioned for the discerning Vertu customer, the new boutique showcases state of the art technology and offers a soft, inviting ambience while showcasing the Vertu handsets in an invigorating and thought-provoking manner. Vertu’s unique, handcrafted handsets are now available in over 35 of the finest watch, jewellery and department stores and Vertu boutiques across the Middle East. 

Hublot opens a second boutique in Abu Dhabi at Marina Mall

To mark the Formula 1™ Etihad Airways Grand Prix in Abu Dhabi on the Yas Marina circuit – Hublot is the Official Watch of Formula 1™ - Abu Dhabi's second Hublot boutique was opened on 3rd November 2012. A traditional ribbon-cutting ceremony took place, attended by Jean-Claude Biver, Chairman of Hublot, and the Seddiqi family, long-standing partners and friends of the brand in the UAE. They were joined by friends of the brand, clients and journalists, just before the last Grand Prix practice race, starting at noon on Saturday. "It’s a really exciting time to be opening a new Hublot boutique in Marina Mall, Abu Dhabi soon after our recent acquisition of Al Manara International Jewellery in partnership with HAMG, especially given the presence of such immense local demand for what the brand offers.”, comments Abdul Hamied Seddiqi, Vice-Chairman, Ahmed Seddiqi & Sons and Chairman of the Board of Directors at Al Manara International Jewellery.

TAG Heuer relaunches its oldest flagship store in the Middle East Region

TAG Heuer celebrates the reopening of its boutique in BurJuman, Dubai. Originally opened seven years ago, the brand’s first ever boutique in the Middle East has been completely renovated to match TAG Heuer’s latest retail concept and shopping experience. To celebrate this event, Jean-Christophe Babin, President and CEO of TAG Heuer flew in to Dubai for the occasion. And to make this memorable moment even more historical, Mr. Jean-Christophe Babin, alongside Mohammed Abdulmagied Seddiqi, the Vice President of Sales & Retail at Ahmed Seddiqi & Sonsand Luc Decroix, General Manager of TAG Heuer Middle East; awarded Mr. Mohammed Ben Sulayem, the brand local ambassador, with TAG Heuer Lifetime Motor-Racing Achievement Award.

Richard Mille announces its presence in Abu Dhabi with Al Manara International Jewellery

Richard Mille has announced its presence in Abu Dhabi through a new cooperation with Al Manara International Jewellery. The acclaimed Swiss luxury brand is now available at Al Manara’s boutique in Marina Mall, Abu Dhabi. In March 2011 Richard Mille became official time-keeping partner of Yas Marina Circuit and to celebrate the association, it launched a limited-edition watch, the RM 011 Felipe Massa Flyback Chronograph Yas Marina Circuit. The celebration was attended by partners of the brand Felipe Massa and Martin Brundle, accompanied by President and CEO Richard Mille and by Peter Harrison, CEO Richard Mille Europe Middle East and Africa.

CHARRIOL opens its newest flagship boutique in Malaysia

On 18^th October, CHARRIOL opened its newest flagship boutique located on the Adorn floor of Kuala Lumpur's up-market Starhill Gallery at Jalan Bukit Bintang in Malaysia. Mr. Philippe Charriol was present for the ribbon cutting ceremony and was accompanied by siblings Ms. Sara and Mr. Gary Khoo, Directors of Mirar Laboratories – CHARRIOL’s official partner and distributor in Malaysia.  On this special occasion, the brand unveiled its latest watch and jewelry collections to the delight of 80 VIP guests including members of the press.

Damas inaugurates its partnership with Armin Strom

On 31 October, Damas inaugurated its partnership with Armin Strom, which was attended by the German Formula 1 racing driver Timo Glock. The Swiss brand is the Official Timing Partner for the Marussia Racing Formula 1 Team. Together with its Formula 1 partner, Armin Strom AG has developed the ARMIN Racing Collection of three exclusive timekeepers, custom-built for motor racing, with titanium or stainless steel cases and the black, red and white dials reflecting the racing team colours. The event, which was held at the Damas Dubai Mall boutique, was attended by owner of Armin Strom, Serge Michel; Master Watch Maker Claude Greisler; as well as other dignitaries from Damas Management and Dubai Mall.

Audi-Eberhard Melges 32 triumphs in Naples

The 2012 sailing season of Audi Sailing Series Melges 32 came to an end in the warm sea of Naples. Valid as the last Audi Sailing Series Melges 32 leg, the event crowned the winner of the overall ranking, which has been awarded with the Challenge Trophy offered by Fantastica, in quality of last edition champion, and a beautiful Eberhard & Co. watch, official timekeeper of the circuit. After 5 legs and 36 regattas Mascalzone Latino affirmed its supremacy, led by Vincenzo Onorato awarded with a Scafodat 500, an Eberhard & Co. timepiece perfect for the beach, sailing and leisure. The Audi Eberhard team ranked 3^rd, protagonist of a wonderful season full of successes and strong emotions.

Jewels Designed ForYou expands into Middle Eastern Market

Jewels Designed ForYou has recently opened its office in Dubai. The brand was founded in Europe and specializes in bespoke jewelry creations. Jewels Designed ForYou will be exhibiting at the Dubai International Jewelry Week to be held from November 21-24, 2012 at the Dubai World Trade Centre.

Montegrappa announces the winner of “Global Meaning Of Life” Competition

Montegrappa has recently announced that the winner of the ‘Global Meaning Of Life’ Competition organized by the Global Penfriends Internet Friends Club is the recipient of a beautiful Montegrappa Extra 1930 fountain pen in black & white celluloid with sterling silver trim. The entry by Oumie Badjan-Njiewas was decided to be the winner. The competition celebrates the art of communication on a personal level, while appreciating the evolutionary changes of electronic discourse.

Product Launch

Cartier at the 26th Biennale High Jewellery Collection

Since 1964, Cartier has figured among the most prestigious exhibitors of this elite gathering and reaffirms its allegiance to the Biennale des Antiquaires with each edition. With its 250 m2 stand, the largest of all exhibitors at the 2012 edition, Cartier unveils the full extent of its jewelled supremacy at the Biennale. Entrusted to the talent of French designer Tristan Auer, known for his refined approach and bespoke decorative work, this spectacular setting is a fitting reflection of the scope, creative power and legitimacy of the king of jewellers. This year, Cartier presented 148 pieces of high jewellery and 12 precious objects plus a selection of pieces from the Cartier Tradition collection.

GRAHAM Silverstone Vintage 30- beauty of new lines and shapes

With beautiful lines and shapes, the GRAHAM Silverstone Vintage 30 pays tribute to the origin of racing, to the brand’s passion for tracks and beautiful mechanics. Powered by an automatic bi-compax chronograph, the new Silverstone collection bears the colours of a certain vintage. GRAHAM makes one experience the legendary classic racing with new wrist machines which preserve the pure spirit of car technology and watch making refinement. As carefully as the cars were built, the Silverstone Vintage 30 watch has been created according to the codes of vintage racing and with respect for each part. The “Clous de Paris” decorated bezel, the thin shaped hands and the beige, brown and off-white colours have been elaborately added to the watch.

Victorinox unveils its Night Vision watch in the UAE

Victorinox’s latest multi-functional watch, the Night Vision has been specially designed to be the perfect companion for those who live on the edge and enjoy adventures great and small. Heralded as the perfect “companion for life”, the Night Vision watch owes its name to an ingenious illumination system that is discreetly incorporated into an extension of the case, or blended into a central links of the bracelet, that can be activated by pressing on a pushbutton. In additional to the lighting up of the dial for legibility of the time display, Night Vision is capable of creating a continuous beam of light visible up to 1 kilometre away.

RJ-Romain Jerome pays tribute to the “Día de los Muertos”

RJ-Romain Jerome has decided to take its turn celebrating the Day of the Dead with a timepiece available in two different versions, both issued in 25-piece limited editions. RJ’s inspiration for the dial of this watch dedicated to the "Día de los Muertos" was drawn from traditional Mexican decorations. A carefully hand-crafted colourful applique adorned with a champlevé decoration, cold enamelled in different colours, emulates the look of the "calaveras" – the skulls made of sugar given away by the Mexicans as good luck tokens during the entire festival. The watch is fitted with a black Hornback alligator strap.

TAG Heuer launches the limited edition of Carrera Calibre 1887 Space X Chronograph

To celebrate both the 50^th anniversary of the first Swiss watchmaker in Space and the first successful SpaceX mission to the ISS, TAG Heuer has launched a stunning commemorative watch- the Limited Edition TAG Heuer Carrera Calibre 1887 SpaceX Chronograph. Just as SpaceX carries forward the legacy of Project Mercury, the 2012 TAG Heuer Carrera SpaceX draws on the spirit of John’s Glenn’s Heuer stopwatch to create a thoroughly contemporary and elegant timepiece. The iconic Carrera case design is reinterpreted for 2012 with a new, larger diameter (43mm) stainless steel case featuring finely polished surfaces, including the bezel, crown and Chronograph pushers.

Iceman II Limited Edition by Edox

Extreme freediver Chrisian Redl has pushed the limits once again when he embarked on the Gokyo ice dive on October 17, 2012 in Nepal, breaking a world record ice dive at an altitude of 5160 meters. Edox is the official partner of Christian Redl, sharing the same vision to always go further and the same thirst for challenge, together with an attention to detail and a quest for perfection. The new Edox Iceman II Limited Edition represents a fresh conquest. Now virtually synonymous with Christian Redl, this is truly a statement watch: water-resistant to a record-breaking of 1000 meters, with a ultra robust and reliable chronograph movement. The deep black case reflects the depths of the water, while the anthracite dial enables optimal readability.

Fabergé launches new Matelassé pieces

Fabergé extends its much loved Matelassé collection to include new polished and matt rings, earrings and a lariat necklace. The new designs will launch in Fabergé boutiques and online on 24 November 2012. This evocative design, with its soft, tactile, gem-set quilting, represents the perfect marriage of heritage and modernity that is so much part of the ethos of Fabergé today. Superbly sculpted, the luscious cushions of white or rose gold, conjuring the cocooning warmth and texture of quilting, are studded with diamonds or multi-coloured gems.

Celebrity News

Diane Kruger wears Jaeger-LeCoultre’s Reverso in her new film “Un plan parfait”

In her new comedy film “Un Plan Parfait”, Jaeger-LeCoultre ambassadress and face of the brand’s advertising campaign, Diane Kruger wears the iconic watch of the Manufacture: the Reverso. The character of Isabelle played by Diane Kruger wears a Jaeger-LeCoultre Reverso Duetto in yellow gold and Pierre played by Robert Pagnol wears a Master Ultra-Thin 38 watch in pink gold.

Salma Hayek wore one million dollar Harry Winston jewels

During the LACMA 2012 Art + Film Gala in Los Angeles,  actress Salma Hayek walked down the purple-carpet clad in a floor-length navy gown and big bright Harry Winston Sapphire and Diamond jewels.  Salma wore Sapphire Drop Earrings with Micropave ($1 Million) Carpet Bracelet.

Tania Kassis wears Chopard

On the occasion of her last concert in Paris, singer Tania Kassis was wearing Chopard jewellery. Tania wore white gold earrings set with diamonds (4cts) and pear-shaped sapphires (57cts) and white gold earrings set with 2 pear-shaped diamonds (14cts) and brilliants (3cts).

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