Market Report

Investcorp of Bahrain eyes Versace stake

Bahrain based fund Investcorp is among the leading candidates to buy a major stake in fashion house Versace, which the company wants to offload ahead of its possible stock market listing. Besides Investcorp, the others in the race are Italian state-backed fund Fondo Strategico Italiano (FSI), private equity firm CCMP Capital and French private equity firm Ardian.

Market News

Tiffany & Co. to pay Swatch Group damages totalling CHF 402 million

According to a statement received earlier today from Swatch Group. The NAI Netherlands Arbitration Institute passed judgement in the lawsuit Swatch Group vs Tiffany & Co.: Tiffany & Co. is sentenced to pay Swatch Group damages totalling CHF 402 million. The counter-claim of Tiffany & Co. is integrally dismissed.

In September 2011, Swatch Group had terminated the collaboration with Tiffany & Co. for breach of contract and pressed claims for damages in December 2011 against Tiffany. In March 2012, Tiffany filed a counterclaim with the court of arbitration in charge.

Bahrain’s national economy grows 4.6% in the third quarter of 2013

Bahrain's economy grew 4.6 percent from a year earlier in the third quarter when adjusted for inflation. Mohammed al-Amer, president of the Central Informatics Organisation said - the oil sector contributed about 45 percent of output growth. Analysts polled by Reuters in September forecasted Bahrain's GDP growth would accelerate to 4.0 percent in 2013 from 3.4 percent in 2012, before slowing again to 3.5 percent next year.

Qatar economic growth forecast raises to 6 percent in 2013

Qatar's economy is likely to grow 6.0 percent this year, slightly faster than previously forecasted, partly because of higher gas production, the Ministry of Development Planning and Statistics said in a report. Gross domestic product growth in the world's top exporter of liquefied natural gas is forecasted to ease to 4.6 percent in 2014 as output from maturing oil fields contracts and gas production levels out. In their previous economic outlook, released in June, Qatari authorities forecast 2013 growth of 5.3 percent and 2014 growth of 4.5 percent, down from 6.2 percent in 2012. Government spending is projected to rise 10.8 percent in 2013 against the latest preliminary outcomes for calendar year 2012, and by 11.6 percent in calendar 2014, reaching 30.7 percent of GDP.

Company News

Breguet unveils 200 years of watchmaking innovations in Dubai

The traveling exhibition “Breguet, the innovator” is welcomed in the Grand Atrium of the Dubai Mall from December 18, 2013 to January 4, 2014. The arrival of this retrospective showcase in the Middle East - the first major event of the brand in this market was celebrated with a cocktail reception on December 18, 2013. At this occasion guests were invited to discover the manufacture’s centuries-old expertise and attend extraordinary demonstrations of Breguet’s artisans as they unveil the secrets of their art.

Girard-Perregaux celebrates its partnership with the Academy Museum of Motion Pictures

Girard-Perregaux celebrates its partnership with the Academy Museum of Motion Pictures. The images showcase a series of compelling pairings revealing interesting similarities between the creative process and the production of movies. The photos, all meticulously selected from the extensive Academy and Girard-Perregaux archives, show how both processes aim at creating something that is timeless and iconic. Girard-Perregaux has launched the Hawk Hollywood land, a special edition piece created as homage to the film community.

Jaeger-LeCoultre hosts actress Sarah Gadon

Sarah Gadon visited Jaeger-LeCoultre in Switzerland to discover the latest ladies’ timepieces presented to her at “the Maison d’Antoine” in the XIXth century building. This unique space is bathed in the same natural light of the Vallée de Joux. Sarah is wearing the Rendez-Vous Night & Day watch on a steel bracelet embellished with the finest hand crafted finishes.

JEANRICHARD announces new ambassadors Jérémie Maurouard and Maxime Machenaud

JEANRICHARD presented its two new ambassadors, rugby players Jérémie Maurouard and Maxime Machenaud both current members of the Parisian club, Racing Metro 92, at the opening cocktail of the Belles Montres salon, held at the Carrousel du Louvre in Paris for its seventh year, JEANRICHARD is the official timekeeper of the club with its famous sky-blue and white striped shirts.

Tiffany & Co. reveals Holiday Window at Dubai Mall Flagship store

Tiffany & Co. celebrates the season with its famed holiday windows. This annual tradition across the globe continues to amaze and delight shoppers and passersby who seek the quintessential gift for their loved ones. This year, five of Tiffany Boutiques in Dubai and Abu Dhabi will take part in this annual tradition. A special unveiling of the long awaited holiday windows will take place at the Dubai Mall Flagship store.

Adler Joailliers inaugurates its renovated boutique in Geneva

Adler invites its clients to discover its new boutique in Geneva. The store, located at 23 rues du Rhone, was closed for two months but reopened on 5th of December 2013 with a brand new look. The wine colour that dominated until now has been replaced by a cream tone that brings more light.

Avakian announces Tiffany Baehler, winner of the scholarship at the central Saint Martins

The winner of the Avakian Scholarship was announced at the Central Saint Martins BA Jewellery Awards this fall 2013. Avakian will be funding the cost of studies of one final year student annually for each of the next three academic years and announces that Tiffany Baehler has been chosen for the first 2013/14 Avakian Scholarship.

Product Launch

Bovet opens its first boutiques in US

Bovet has opened its first store in the United States, at 50 Central Park South in New York City adding its name to the growing list of high-end watchmakers launching stores in the great city of New York at the base of the Iconic Ritz Carlton Hotel. For this special occasion, Bovet has created a new collection of watches that are exclusive to New York, featuring 50 timepieces that are engraved to commemorate the opening of its boutique. “I am very proud to bring the House of Bovet 1822 to New York, where collectors will be able to explore and discover our exceptional creations,” Owner Pascal Raffy said. “To do this, I warmly thank Bovet’s longtime partners Jeffrey Khalaf and Michael Rosenberg from The Timepiece Collection for their invaluable contribution to this endeavor.” Bovet 1822 has only four boutiques in the world, in NY, Moscow, Berlin and Baku, Azerbaijan.

Dior launches Dior VIII Ceramic and Metallic coloured Strap

Dior reveals limited edition of a 33mm black ceramic Dior VIII with a pink sapphire central ring and a metallic blue mirror calfskin strap and of a 38mm version with a sapphire central ring and a metallic pink mirror calfskin strap. The two Dior VIII automatics in black ceramic are opening a new chapter in the collection. In a mix of materials, finishes and colours. The 33mm version is embellished with pink sapphires and plays with shades of pink, orange and blue; the 38mm version is adorned with sapphires and is combined with the colours blue, sea-green and pink. On a metallic coloured leather strap with rubber lining in a matching shade.

Jacob & Co presents Epic X and Brilliant Skeleton Baguette

The movement - caliber is exclusive manually wound Jacob & Co JCAM02 skeleton calibre Barrel and balance wheel vertically aligned. The Epic X system Barrel with sliding clamp system; balance screws visible on the front side; visible time setting mechanism on the case back. The dial and hands in Epic X is of skeleton. The strap has Openwork “honeycomb” rubber or Alligator Strap; adjustable deployment clasp. The Brilliant Skeleton Baguette case is made of white gold, polished and set with baguette diamonds and sapphire anti-reflective glass. The strap - Satin with white gold tang buckle set with baguette diamonds.

RJ-Romain Jerome reveals The Skylab timepiece

The Skylab is the new timepiece with an avant-garde design that features RJ-Romain Jerome’s first skeleton timepiece. RJ-Romain Jerome has designed its Skylab featuring a skeleton structure housed in a case that recalls the original space station and its sleek lines and a complex system of solar panels. The case nests a complex five layered skeleton; the transparent sapphire glass at the back enhances the sense of zero gravity highlighting the single barrel. The architecture of the skeleton shines in anthracite or represents the infinity of space in black PVD coated-steel; both declinations are finished with a hand drawn stroke. The watch contains material from Apollo 11 mission on the bezel. Also available in 5N Rose Gold, the Skylab timepieces echo the brightness of a stellar system seen from a porthole.

Grand Gifts exuding the inimitable ‘Paris Style’ from SAINT HONORE

SAINT HONORE with the inimitable ‘Paris Style’ presents an unforgettable range of creations and accessories made especially for the special woman in your life this festive season. A star in every way is the Lutecia Lady, a timepiece. The dial periphery, white mother-of-pearl shows the indexes and in the upper portion, encloses an off-centre circle rendered more dazzling by the “Eclair EffectTM”.  Opéra is a delicious mix of emotions and freshness. The case is extended for even greater comfort by movable horns. The Coloseo, this special timepiece has the veritable ‘touch of class’ that sets it apart. Crowned by the signature onyx cabochon, the detailed styling and classy finish makes this an inspired choice. The Accessories collection from SAINT HONORE, featuring purple, pink and lacquered pens decorated in a ‘Flowers’ decorative finish.

ISTANA presents jewel collections from Mimí

ISTANA announces the arrival of Mim’s collections amorously embodying a woman’s venerable love for gems.  Mimi in its range of collections featuring elegant and stunning selection of rings, earrings and necklaces, perfect for every woman of style and substance.  One of Mimi’s renowned collections is Shan Teki, which defines charm, versatility and modern classicism. Diamonds illuminate intense or transparent large cabochons. Gemstones and pearls appear along chokers with a pendant drop and long sautoirs, which can also be draped several times around the neck.

Exhibitions & Events

Antiquorum New York had its Most Successful Auction of 2013

Antiquorum’s December auction of “Important Modern and Vintage Timepieces” in New York totaled $4,633,937, representing the highest total for an Antiquorum New York sale in 2013.  The outstanding collection of 343 timepieces sold 114% by value based on its low estimate. There were 532 registered internet bidders competing for the sought-after watches offered in the sale. Antiquorum looks forward to next auction on February 22nd in Hong Kong.

The India Gems and Jewellery Machinery Expo was inaugurated in Surat

The Gem and Jewellery Export Promotion in affiliation with the Surat Diamond Association (SDA) inaugurated the India Gem & Jewellery Machinery Expo (IGJME) in Surat. The expo which was in last week is the first of its kind in the country organized by GJEPC. The expo was inaugurated by Chief Guest Shri Saurabh bhai Patel - Hon’ble Minister for Energy, Mines & Tourism, Government of Gujarat, Mr. Vipul Shah, Chairman of GJEPC and Mr. Dinesh Navadiya – President of Surat Diamond Association.

Celebrity News

Celebrities dazzled in David Morris Jewellery at the Dubai International Film Festival

David Morris last week had the pleasure of dressing some of the most famous and glamourous Arabic and Hollywood stars during the 10th Anniversary of the Dubai International Film Festival. Egyptian icon, Yousra wore the Rose Cut diamond sautoire with diamond beads, briolettes and micro set diamonds with matching earrings and Noamie Harris wore David Morris pieces for the Oxfam Auction. She wore the Two Diamond butterfly earrings and the between the finger white diamond pear shaped butterfly ring.

Beyonce wore Swarovski Venetian Mystery Mask for MRS CARTER World Tour

Beyonce wore Swarovski Venetian Mystery Mask for MRS CARTER World Tour for in 2014 promo poster.

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