Market Report

Tiffany & Co. posts $92 million earnings in Q2

Tiffany & Co. has recently reported that in its second quarter the company earned $92 million, or $0.72 per diluted share, on worldwide net sales of $887 million. Results were in-line with management’s expectations. In the three months (second quarter) ended 31 July 2012, Worldwide net sales of $887 million were 2 percent above the prior year. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, worldwide net sales increased 3 percent and comparable store sales declined 1 percent. Net earnings rose 2 percent to $92 million, or $0.72 per diluted share, versus $90 million, or $0.69 per diluted share, in 2011’s second quarter.

Market News

Luxury goods still in high demand in the Middle East

Rolls-Royce car sales in the Middle East scored a 23 percent increase in 2011 compared with 2010. Similarly, the luxury Bentley cars has witnessed 32 percent increase in its sales from 2010. According to a recent reports the world wide luxury goods market is forecast to grow by 65 percent between 2010 and 2015.  The Middle East luxury market will match the world wide market growth potential during the same period.

Van Cleef & Arpels inaugurates its new boutique in Abu Dhabi

On 11 September, His Highness Sheikh Suroor Bin Mohammed Al Nahyan inaugurated the Van Cleef & Arpels’ new boutique in Abu Dhabi. The prestigious occasion took place in the presence of Mr. Alban Belloir, Managing Director Middle East and India of Van Cleef & Arpels and Mr. Abdul Hamied Seddiqi, Vice Chairman of Ahmed Seddiqi & Sons. Located at Avenue at Etihad Towers, Abu Dhabi’s striking new landmark, the sumptuous 1,624 square feet boutique is the second in the United Arab Emirates’ capital, the first of which is located in Marina Mall.

Rivoli Group adds another brand to its portfolio

Already available in over 85 countries worldwide with approximately 5,000 retail outlets, TW steel has now been introduced in this region by the Rivoli Group. Well known for its unique designs featuring collections with case dimensions up to 50mm in size, TW Steel has capitalized on the oversized watches market, appealing to both men and women. Comprising of four collections, The Canteen Style, Diver, Goliath, Grandeur, Icon and Tech collections TW Steel has established itself as the leading oversized watch company.

Company News

A. Lange & Sohne expands its manufactory in Glashutte

The ground-breaking ceremony on 5 September marked the start of construction on the Manufacture’s new annex. The new building provides more than 11,000 square metres of additional space for more improved processes. The new annex will accommodate the movement assembly departments and the machines for the production of the delicate movement components in a single complex.

Carrera y Carrera opens its new boutique at Atlantis, The Palm Resort

On 12 September, Carrera y Carrera opened its new boutique at Atlantis, The Palm Resort in Dubai in the presence of its founder, Mr. Manuel Carrera, Mrs. Nathalie Guedj CEO of Carrera y Carrera and Mr. Arif Ben Khadra Chairman of Levant; the new distributor of the brand in the UAE. On the same occasion the brand presented its 2012 Musica Collection. The "Musica" Jewerly collection is divided into four categories Alegrias (joy), Concierto (Concert), Danza (Dance) and Melodia (Melody).

Girard-Perregaux celebrates U.S Soccer Star and Gold Medalist Alex Morgan

Girard-Perregaux was proud to honor U.S. Women’s National Soccer Team gold medalist Alex Morgan and celebrate her accomplishments during Fashion’s Night Out in New York City. Morgan helped lead the U.S. Women’s National Soccer Team to a gold medal at the London Summer Olympics with three goals and team-high four assists. Morgan, a fan of the brand and watches, was seen wearing a Girard-Perregaux Cat’s Eye watch.

Legendary cars in Switzerland with Hublot

From 6 to 8 September 2012, the town of Montreux in Switzerland on the shores of Lake Geneva became the capital of motor sport, bringing together 100 exceptional legendary cars especially for a historic rally and an exhibition unique worldwide. These cars were on loan from the Alfa Romeo Museum in Arese, the jewel of which was the Alfa P3 one-seater, which won 46 races between 1932 and 1935. For the occasion, Mr. Biver was at the wheel of his Ferrari 275 GTB 1967 to take part in the Revival between Montreux and Caux, a magical route overhanging the lake, and which he knows well since it is so close to his personal property.

Jaeger-LeCoultre at the Awards Ceremony of the 69th Venice Film Festival

During the Awards Ceremony of the 69^th Venice Film Festival, each of the winners was gifted a personalised Jaeger-LeCoultre Reverso bearing a lacquered engraving of the lion that symbolises Venice, crafted by hand in the finest tradition of hand workmanship, along with the inscription “69^th Mostra”.

Vacheron Constantin in partnership with Tasveer celebrates ‘DIVINE MOMENTS’ by Raghu Rai

Vacheron Constantin supports the art of photography through its association with Tasveer and celebrates ‘DIVINE MOMENTS’ captured by Raghu Rai, through a series of exhibitions across India. Photography and Horology share a common ground through their relationship with time. The advanced technical precision of both the camera and the watch are the result of techniques and procedures that have been passed down from generations and honed and adapted along the way. The complete range of photographs from the exhibition will travel across the Tasveer and its partner galleries in New Delhi, Mumbai, Bangalore and Ahmedabad.

Product Launch

Paneria launches exclusive Dubai Limited Edition timepieces inspired by the Burj Khalifa

Officine Panerai pays tribute to Dubai with two new Special Edition watches, sold exclusively in the Panerai boutique in The Dubai Mall. Both the watches are personalised with the same engraving on the case back, showing Burj Khalifa, Dubai’s iconic architectural jewel developed by Emaar Properties PJSC, and the world’s tallest building. The first Special Edition dedicated to Dubai (PAM00453), of which 75 units have been made, is a Luminor Marina– 44 mm with a case in polished steel and the bridge protecting the crown in brushed steel. The second Special Edition (PAM00486), of which only 10 units have been made, is a Radiomir 10 Days GMT – 47 mm, with the elegant cushion case in polished steel.

TAG Heuer launches the new Aquaracer 500M series

TAG Heuer embarks in the most thrilling adventure, partnering the mighty ORACLE TEAM USA, the 34th America’s Cup defending champions. To pay tribute to this partnership, TAG Heuer introduces the new Aquaracer 500M series. As Official Partner, TAG Heuer is using its latest technology to support ORACLE TEAM USA in its bid to retain the America’s Cup for the USA. The world’s greatest contest in sailing, the 2013 America’s Cup reaches its climax in San Francisco. The Finals will test ORACLE TEAM USA athletes and TAG Heuer watches to the limit. All the American team will be using newly launched Aquaracer timepieces.

RJ-Romain Jerome officially launches the new PAC-MAN TM in Paris

"CEO Manuel Emch was at the trend-making shop 'colette' in Paris to officially launch the new PAC-MAN TM collection from RJ-Romain Jerome watches. Limited to 20 pieces each of 4 different models, from a discreet one yellow PAC-MAN dial to a dial with colourful characters and fruits, all are machined piece by piece.  Applied by hand and gem-set, the characters and fruits are subsequently lacquered with with different colours or with black superluminova “green emission” to glow in the dark. Having inherited the highly distinctive case of the Moon Invader collection, a circle in a cambered 46 mm square, the PAC-MAN watches also feature steel fused with fragments of Apollo 11. The four ball-and-socket joints at the corners of the case are functional and designed like the legs of the lunar landing module in American lunar expeditions. Boasting a highly sophisticated construction, and mounted on axles anchored in the case, these ball-and-socket joints hold the lugs of the rubber straps and their mobility make the watch easily adaptable to all wrist sizes. On the back of the watch, a disc made of Moon Silver^RJ – a low-oxidation silver fused with moon rocks – reproduces the surface of the Moon."

GRAHAM presents its new Chronofighter 1695 collection

GRAHAM made its new Chronofighter 1695 a timeless watch making instrument. An automatic 42 mm chronograph powered by a sophisticated Swiss movement. The minutes counter is placed at 6 o’clock and the date at 3 o’clock, a distinctive GRAHAM disposition. In keeping with Gentlemen’s taste for style, the brand has also chosen to crown the watch with a pink gold case (18K). The pink gold (18K) case back is elaborately hand-engraved with the Greenwich Royal Observatory as a tribute to the early life of George Graham, the official watchmaker of this important British Institution.

Windflower by RSW

RSW has presented its new collection inspired by a windflower. The interlaced bezel circling and dancing around the elegant oval shaped case, the different colored dials and the satin strap add the final touch in reflecting the values and aspirations of women today. Windflower is available in a classic or very glamorous set with diamonds on the bezel or casing.

SAINT HONORE offers the new Orsay Moon Phase

SAINT HONORE has added a new design to its Orsay Lady line: the “Phase de Lune”. Chic and contemporary, its unique radiance comes from the iridescent shimmer of the mother-of-pearl in the centre of the dial and the lively sparkle of its twelve Arabic numerals, which illuminate the superb moon phase in the middle of the top half of the dial. The moon phase is shown on a delicately-wrought disc with a striking chiaroscuro effect. In immaculate white or deep brown, the contrast between the colors and the materials of the dials unify the different features and create an overall impression of harmony, elegance and seduction.

Vogard introduces a new Datezoner Pilot model

VOGARD has reached its 3rd milestone with the DATEZONER PILOT a watch that sets a new benchmark for world timers by combining date, time zone and chronograph functions.  The date is set via the bezel and is synchronized with every city on the bezel. Eventually, it always displays the right date even when you turn the bezel over the dateline, clockwise AND counter clockwise.

Swarovski Gems launches marcasite pieces, book

Swarovski Gems, the arm of the brand that sells loose genuine and created gemstones to designers and manufacturers, has introduced the gemstone marcasite into its collection and as part of the launch is releasing Natural Reflection, a book showcasing pieces by designers who teamed with the company to include the stone in their pieces.

Celebrity News

Charlotte Casiraghi and Cartier at the 26th Biennale des Antiquaires

Accompanied by Bernard Fornas, President of Cartier International and adorned with never-before-seen pieces of jewellery created by Cartier, Charlotte Casiraghi made her appearance at the heart of the Maison Cartier, an ephemeral space created for this exceptional Biennale. The Gala dinner then took place in the prestigious and magical setting of the Grand Palais.

Christa Theret and Nadine Labaki wear Chopard at the Venice Film Festival

On the occasion of the presentation of her new movie “L’Homme Qui Rit” at the Venice Film Festival, French actress Christa Theret was wearing a pair of white gold earrings set with titanium stones and sapphires as well as a white gold ring set with two emerald-cut diamonds. On the same night, Lebanese actress and director Nadine Labaki was wearing a pair of white gold earrings set with yellow diamonds and diamonds, a yellow and white gold bracelet set with fancy-cut coloured diamonds and diamonds and a white gold ring set with an emerald-cut diamond.

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