Interviews

Interview with Mr. Marc de Panafieu, Brand Director for Jaeger-LeCoultre Middle East

How long have you been in the region? What do you like most here?

I have been in the Region for 10 years. What I appreciate the most is the culture and the people, their generosity and open hearts.

What do you believe is missing in the Middle East for the watch industry?

I think the watch industry will remain strongly attached to Switzerland. However, there has been an increasing interest for watches in the Middle East. For example the first edition of the Salon International des Grandes Complications dedicated to Haute Horlogerie was recently held in Dubai were the Duometre UTT won a distinction as best travel time watch. As far as what is missing in the Middle East for the watch industry, there is room for university courses dedicated to watch industry.

What is your vision and plans for JLC in the Middle East?

The Middle East region is important for Jaeger-LeCoultre, and we will continue to work hand-in-hand with our partners to develop our activity. We will keep on enhancing our point of sale network, by opening new boutiques but also by enhancing our current network. We will also continue building ties with our locally based customers through local events such as Abu Dhabi Film Festival or British Polo Day in Abu Dhabi and Dubai.

Are you a watch collector?

Being of French origin, I have a strong appreciation for luxury and high-end watch making. I am building my own watch collection gradually; it started when I turned 18 years old and my father offered me a Reverso as a rite of passage into the adult world.  Since then on every important occasion, I try to treat myself with a special time piece.

How would you describe yourself?

I consider myself to be a family man with deep-rooted French values and a twist of Middle Eastern influence.

What motivates you?

I enjoy meeting people especially from different backgrounds and cultures than mine, which is surely why I enjoy so much Dubai, being a melting-pot of diversity. The great thing is that my job enables me to do so as I can start the week in Dubai, then go to Saudi Arabia, to finally end the week in India.

How do you handle success?

Every success deserves a celebration but then it is back to work, as with every succes comes a new challenge.

Market Report

Jaeger-LeCoultre celebrates Polo in Buenos Aires

Jaeger-LeCoultre is the sponsor and official timekeeper of the 121st Argentine Polo Open of Palermo. During the three-week prestigious competition, the eight best teams in the world challenged each other on the field. On December 4th 2014, a couple days before the finals held on December 6th 2014, Jaeger-LeCoultre strengthened its presence at the 121st Argentine Polo Open of Palermo hosted an exclusive evening reception at Park Hyatt of Buenos Aires to celebrate and honor the spirit of polo. Around 450 guests attended the event including: Jaeger-LeCoultre polo ambassadors Clare Mountbatten, Marchioness of Milford Haven, Luke Tomlinson, and Eduardo Novillo Astrada, alongside photographer Astrid Muñoz. 

Market News

Saudi Arabia's GDP growth forecast at 3.42

Saudi Arabia's response to the fall in oil prices has been to decrease its official selling price (OSP) with OSP's cut across all regions (Europe America and Asia). In the US Saudi's supply of heavier crude has come under pressure from Canadian imports. Saudi exports to the US were steady around 1.2 million bpd in H1 2014 but dropped to below 1 million bpd in September according to a recent study by Jadwa.
Jadwa projects full year average production in 2014 at 9.7 million bpd; this will decline slightly to 9.6 million bpd in 2015 and then to 9.4 million bpd in 2016.

Dubai Duty Free extends 25% pre-Christmas sale

Dubai Duty Free said its annual anniversary promotion will be spread over three days for the first time from December 18-20. A wide range of items will have prices cut by 25 percent over the three days, the retailer said in a statement. This is the first time ever that Dubai Duty Free has offered its anniversary promotion over three days, which will be available for all departing, transiting and arriving passengers at Dubai International Airport and at Al Maktoum International Airport - Dubai World Central. The discount offer begins at midnight on December 17 and will end at midnight on December 20.

Qatar economy to rise by 7.7pc in 2015

Qatari economy is projected to grow by a robust 7.7 percent next year despite the pressure on oil prices. The predicted growth rate in 2015 would be Qatar's fastest expansion since 2011 and an acceleration from 6.3 percent estimated for this year. An update of "Qatar Economic Outlook 2014-16" released by the Ministry of Development Planning and Statistics (MDP&S) yesterday noted little change is expected in 2016, with growth of 7.5 percent. In 2015, with momentum still gathering in non-hydrocarbons, the sector's share of GDP will overtake that of oil and gas, and continue rising in 2016 and beyond.

Kuwait may cut spending in 2015 due to oil price slump

Due to the lower oil prices the state of Kuwait may cut its planned state spending next fiscal year, according to a parliamentary official. Adnan Abdulsamad, head of the parliamentary committee for budgets, revealed that Ministry of Finance officials were estimating budget spending at 19 billion dinars ($65.2 billion) in the year starting next April. Planned spending for the current fiscal year is 23.2 billion dinars. Abdulsamad said the estimates for the 2015/16 year envisaged the government running a budget deficit of 2.8 billion dinars, before deducting money for Kuwait's Future Generations Fund (FGF), part of its sovereign wealth fund. The 2015/16 estimates assume an average oil price of $60 per barrel and Kuwaiti oil production of 2.7 million barrels per day, down from a price of $75 and production of 2.9 million bpd in the current fiscal year, Abdulsamad said

LG Gulf to cash in on the growing demand for smartwatches

In a recent statement, the LG Gulf will be aiming to cash in on the growing demand for smartwatches as the industry is going from geek to chic to attract end users with more fashion-forward designs and in time for holiday season. LG’s latest device looks like a regular circular-shaped watch. It runs on Google’s Android Wear software, specially designed for wearable devices.  Handset makers are pinning hopes on sales of wearable devices to boost revenue as growth of smartphone sales are expected to be slower in the coming years. LG will be launching its G Watch R2 with 4G LTE SIM support at Mobile World Congress in March.

Audemars Piguet announces Serena Williams as new friend of the brand

Audemars Piguet's new friend, world number 1 female tennis player and winner of her 18th Grand Slam singles at Flushing Meadows last September attended the brand's event at Art Basel Miami Beach on Friday December 5 for the second consecutive year. Serena, who was wearing her Audemars Piguet Royal Oak Offshore whilst playing during the whole 2014 season, has been known for her unique dominance of women’s tennis for almost two decades.

Company News

Mouawad showcases its exclusive diamond masterpieces at the Victoria's Secret Fashion Show 2014

Mouawad has once again showcased its exclusive diamond masterpieces on the runway of this year’s Victoria’s Secret Fashion Show held for the first time in London. The chief highlight though was the latest Mouawad-designed Dream Angels Fantasy Bras modelled by Adriana Lima and Alessandra Ambrosio; the bras consumed 1,380 hours of artisanship to be thoroughly handset with a gleaming array of diamonds, rubies, sapphires and diverse multi-colored gemstones hanging together on gold stretching chains.

Giorgio Armani introduces the collection of Emporio Armani Swiss Made watches

Giorgio Armani announces on 9th December, the collection of Emporio Armani Swiss Made watches which was presented at the Armani Hotel Dubai. During the exclusive event dedicated to the local press, guests were able to see the Emporio Armani Swiss Made autumn 2014 and holiday 2015 collections, as well as a preview of the spring 2015 collection, which will be on sale in stores at the end of January 2015. Guests were also able to view some of the key steps in the manufacturing process of these timepieces.

Arnold & Son presents their new Catalogue 2014-2015

The latest edition of the Arnold & Son Catalogue is lavishly illustrated and comes with new chapters and an entirely overhauled design. Its content ranges from the legends behind the brand to a full presentation and description of each model and their movements, all manufactured in-house. In this year’s catalogue, Arnold & Son presents five new manufacture movements and various special editions that pay tribute to the achievements of John Arnold and his son.

Chopard opens a boutique dedicated to its High Jewellery collections

Chopard announces the opening of its first High Jewellery boutique in the Middle East at the prestigious Four Seasons Dubai Jumeirah Beach hotel. With a sophisticated design created after the Boutique concept developed by interior designer Thierry Despont, the Chopard Boutique at the Four Seasons’ showcases an exclusive selection of Chopard’s Haute Joaillerie Collection. 

Damas wins Two Accolades at Sixth Jewellery Design Awards

Damas has been named the winner of the ‘Objet D’Art Award’ and ‘CADCAM Technology Award’ at the sixth Jewellery Design Awards competition organized by Dubai International Jewellery Week 2014. The distinctions are a testament to Damas’ expertise in the jewellery design process and restate the brand’s commitment to partner with and employ the region’s best jewellery designers.

Hublot announces their three year partnership with Italia Independent

Hublot and Italia Independent announces a three-year partnership involving a series of products that will see the light in the first quarter of the coming year and will enjoy ample visibility at the two brands’ boutiques. The launch plan consists of a series of international events. The results of the partnership will be of true excellence at both the technical and stylistic levels, and will highlight the expertise possessed by the two European firms which worked closely together to develop them.

Van Cleef & Arpels collaborates with Tashkeel and Design Days Dubai

Van Cleef & Arpels collaborated with Tashkeel and Design Days Dubai in its third edition of The Middle East Emergent Artist Prize for 2015. The Prize presents a unique opportunity for promising artists and designers to showcase their talent to a global audience. The partnership between the three leading organisations continues its objective to highlight talent throughout the region, focusing on emerging designers and artists to share examples of their creativity. This year’s theme: Functional and Conceptual Design aims to inspire designers to develop intangible and/or functional pieces of work displaying a strong working and practical purpose. The winning artwork will be unveiled at the Van Cleef & Arpels stand during Design Days Dubai 2015.

Van Eyck shines in Middle East launch

Dubai’s socialites has recently attended an exclusive launch of Van Eyck Jewelry in the Middle East held at the Opera Gallery Dubai. Taking place in the gallery’s exquisite ‘black room’, home to numerous Picasso, Miro and Chagall paintings, the Belgian jeweller displayed their latest collection, inspired by remarkable birds native to Papua. The event was attended by Her Excellency Dominique Mineur, Ambassador of the Republic of Belgium to the United Arab Emirates.

World class designers scoop prestigious 2014 Jewellery awards

A host of global jewellery designers were awarded with some of the international industry’s most prestigious titles at sixth Jewellery Design Awards. Attracting both amateur and professional designers, nine talented individuals were recognised and rewarded for excellence in the field of jewellery design, innovation and creativity at a glittering ceremony at The Address Montgomerie Dubai. Prototypes of all the winning pieces were displayed in the awards gallery at Dubai International Jewellery Week, the Middle East’s most influential jewellery event, which was at Dubai World Trade Centre (DWTC).

Product Launch

A. Lange & Söhne launches the limited Lange 1 Tourbillon Handwerkskunst

A. Lange & Söhne presents the limited Lange 1 Tourbillon Handwerkskunst, a model with a black enamelled dial. It provides a perfect complement to the brilliance of the highly polished markers and matching hands in rhodium-plated gold. The black subsidiary dial in solid silver for the small seconds display is slightly sunk into the main dial. The recess for the tourbillon is finished with polished chamfer. Counter-enamel is applied to the back of the dial. Small interstices between letters and figures are filled with enamel using a fine brush. On the finished black enamelled dial, the contour of the aperture for the tourbillon is carefully hollowed out and finished with a luxurious polished chamfer.

Exhibitions & Events

Dubai International Jewellery Week concludes at Dubai World Trade Centre

The 19th edition of Dubai International Jewellery Week concludes at Dubai World Trade Centre (DWTC), bringing an end to four successful days of striking jewellery collection launches, seminar sessions featuring unique advice from industry experts and dazzling new pieces from the world’s leading established and emerging design talents. Having attracted more than 380 exhibitors and over 800 brands from 30 countries including 100 new-to-show companies, the Middle East’s most influential jewellery event offered the perfect opportunity for global jewellery fanatics, collectors, designers, retailers and wholesalers to come together and share their passion for jewellery.

Celebrity News

Jessica Chastain shines in Piaget at the New York

Jessica Chastain dazzles at the New York premiere of "A Most Violent Year" as she stepped onto the red carpet in a lovely red dress with Piaget diamonds. Ms. Chastain wore Piaget Rose pendant in rose gold set with brilliant-cut diamonds.

Rihanna wears Chopard to the Clara Lionel Foundation's Diamond Ball

Rihanna wore Chopard’s rubellite and diamond necklace from the “Red Carpet” collection featuring a pear shaped rubellite and diamonds set in platinum, diamond earrings from the “High Jewelry” collection featuring diamonds set in  white gold, a ruby bracelet from the “Red Carpet” collection featuring rubies rose gold, a rubellite and ruby ring from the “Red Carpet” collection featuring  rubellite, rubies, and diamonds set in  white gold, a tanzanite and rubellite ring from the “Precious Temptations” collection featuring tanzanite, rubellite, and diamonds set in white gold, a diamond ring from the “High Jewelry” collection featuring diamonds set in white gold, and a diamond ring from the “High Jewelry” collection featuring diamonds white gold.

Sarah Gadon wears Jaeger-LeCoultre during the Whistler Film festival

Canadian actress Sarah Gadon has been honoured at this year’s ‘Spotlight On’ presented by ELLE Canada, during the Whistler Film festival. Sarah Gadon wore Jaeger-LeCoultre Rendez-Vous Night & Day in pink gold.

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