Swiss watchmaking remained negative in April 2016, while UAE, Qatar and Kuwait showed double digit growth; Richemont reveals its Geneva based "Campus Genevois de Haute Horlogerie"

Market News

Swiss watchmaking remained negative in April 2016, while UAE, Qatar and Kuwait showed double digit growth.

The trend of Swiss watch exports remained sharply negative in April. Their value was down 11.1% compared to April 2015, at 1.6 billion francs. Over the first four months of the year, the downturn stands at -9.5%.

Precious metal watches were hardest hit in April and exerted a clear downward effect on the overall result. The slump in steel timepieces, although fifty per cent less marked, was very significant nonetheless. In volume terms, steel products and those in the category of other metals registered steep declines.

Watch exports to Hong Kong continued to falter for the fifteenth consecutive month. The United States on the other hand showed an improvement, albeit modest. After a very promising start to the year, Japan saw its result fall in April. Europe suffered a marked decline, particularly in Italy (-12.3%), Germany (-11.1%) and especially France (-31.4%). China’s position has deteriorated considerably in recent months, with a result for April of -36.0%.

During the same period watch exports to UAE recorded 26.4% growth supported by similar double digit growth in Kuwait at 13.1% and Qatar recorded a massive 104.5% growth. Saudi Arabia deducted at -34.4%.

Richemont reveals its Geneva based "Campus Genevois de Haute Horlogerie"

Richemont group recently opened its doors to the new state of the art complex in Geneva. The objectives set for this complex is to centralize and streamline its operations of several brands among the group and to promote and share the development of watchmaking knowledge. Five brands are already operating from this five building complex including Cartier, Jaeger-LeCoultre, Roger Dubuis (HQ), Vacheron Constantin and Van Cleef & Arpels. The new Richemont complex uses 100% renewable energy and produces zero carbon emissions.

UAE ranks 15th on the World Competitiveness index

The UAE and Qatar have been ranked among the world’s top 15 most competitive economies, while no other GCC country made it on the World Competitiveness Ranking of 61 countries by IMD World Competitiveness Centre, a research group within IMD business school.

While Qatar maintained its position at 13th overall, the UAE’s ranking slipped three places from 12 last year to 15 this year.

Company News

The Audemars Piguet Dream Team of Golf Ambassadors continues to expand

The Audemars Piguet family is expanding with the addition of two golf professionals, Branden Grace and Paul Dunne. The AP logo now adorns the right sleeve of their polo shirt, like it does for the other members of the Manufacture’s “Dream Team” of golf ambassadors.

BOVET 1822 introduces Luxury Wall Clocks to Miami International Airport

BOVET 1822 broke new ground this year when Miami International Airport became the first U.S. airport to receive BOVET 1822 branded luxury wall clocks. The prestigious and historic Swiss House, now thriving under the guidance and ownership of Pascal Raffy, has gained acclaim for their unique timepieces defined by their convertible pocket watch form. The distinguished red-gold toned wall clocks now hanging throughout the airport draw inspiration from BOVET’s famous Amadeo pocket watch style.

Chopard Official Timekeeper at the Grand Prix de Monaco Historique 2016

The tenth edition of the most prestigious event on the classic racing circuit took place from May 13th to 15th 2016. Every two years, the Grand Prix de Monaco Historique brings together drivers and devotees of historical cars for a competition driven on vintage racing cars. Dedicated to the most prestigious classic racing competition, the Grand Prix de Monaco Historique Collection by Chopard welcomes two new limited-series chronographs: the Grand Prix de Monaco Historique 2016 Race Edition

IWC Schaffhausen as an official ‘Festival-Time’ Partner of the Dubai International Film Festival (DIFF)

IWC Schaffhausen, Official ‘Festival-Time’ Partner of the Dubai International Film Festival (DIFF), returns with one of the festival’s most prestigious awards, and announces that submissions for the fifth IWC Filmmaker Award are open now until 1 August 2016. The winner of the annual award will once again receive a grant of USD 100,000 to help them bring their ideas to fruition on the big screen. The return of the IWC Filmmaker Award confirms the brand’s commitment to nurturing and fostering the growth of the film industry both regionally and globally, and to supporting budding filmmakers on their journeys to stardom.

Paris Gallery opens first store in the Sultanate of Oman

In the presence of His Excellency Sayyed Saud Bin Hilal Bin Hamad Al Busaidi, Minister of State and Governor of Muscat, Mr. Mohammed Abdul Rahim Al Fahim, CEO of Paris Gallery Group of Companies, and Mr. Salim Bin Abdullah Al Rawas, Chairman of Oman Luxury LLC, VIP guests and valued members of the media in Oman gathered at Opera Galleria to witness the grand opening and official inauguration of luxury retailer Paris Gallery’s much awaited franchise store in Muscat.

Product Launch

Jaeger-LeCoultre presents Master Calendar

Jaeger-LeCoultre, unveils special Eid Al Fitir collection - Master Calendar. The new Master Calendar is self-evidently loyal to its design philosophy: clear-cut lines, harmoniously arranged indications ensuring instant read-off, traditionally-shaped numerals, applied hour-markers. The Master Calendar comes in two versions: one in pink gold and the other in stainless steel – each framing a silver-toned sunburst dial. The pink gold model is teamed with an alligator leather strap secured by a matching pin buckle, while the alligator strap of the stainless steel version comes with an equally matching folding clasp.

Arnold & Son presents Métiers d’Art HM Koi Unique Piece

The Métiers d’Art HM Koi Unique Piece from Arnold & Son was created to celebrate this fascinating fish. Adorning the mother-of-pearl dial is a hand-painted miniature of two koi. Nuances of colours, from red-orange to blue-grey, are achieved by the tiny brushstrokes and texturing; Each koi is executed with exquisite delicacy of touch and features fine details that evoke its shimmering skin. The art of painting miniatures by hand calls for infinite patience and consummate skill. The movement is housed in a rose gold case, with a black alligator strap.

Bremont unveils AC I 32 Ladies Chronometer

Bremont announces first ladies range of watches, which will form part of its America’s Cup Collection. The AC I, miniature version incorporates sea blue steel hands and a fine ivory white opaline dial, the hand polished case is water resistant. The convex sapphire crystal is equally as hard and has nine layers of anti-reflective coating applied to both sides of the glass for increased legibility. Various straps with polished pin buckle or integrated stainless steel bracelet.

Ateliers deMonaco presents the new Tourbillon Ronde d’Or – Grand Prix de Monaco 1966

On the occasion of the 74th Grand Prix de Monaco, Ateliers deMonaco has created the Tourbillon Ronde d’Or – Grand Prix de Monaco 1966. The dial is hand-engraved in white solid gold representing the poster of the 1966 Grand Prix de Monaco. The aesthetics of Ateliers deMonaco’s watch is housed in a white gold case of 44mm. Through the sapphire case back, one can gaze upon the patented Tourbillon XP1 movement. The brown alligator leather strap with its white gold folding buckle adds a touch of elegance.

DeWitt reveals Twenty-8-Eight Skeleton Tourbillon

The Twenty-8-Eight Skeleton Tourbillon is housed in a round case in rose gold. With thickness of 10.78 mm and comfortable proportions of redesigned lugs and slightly more discreet imperial columns decorating its flanks. On the interior side of the bezel, a diamond-polished wall in rose gold surrounds the movement above the skeletonised section. The wall is decorated by four extremely precise and sharp “W” logos, engraved on the cardinal points. The case is set with 36 baguette-cut diamonds and 96 brilliant-cut diamonds.

A sparkling gift guide for Ramadan by Mouawad

Mouawadfor the Holy Month of Ramadan has entered into the spirit of the season withits Ramadan Collection which makes wonderful gifts for ladies during Eid. Theseinclude the protective power of the iconic Hamsa hand, sparkling in diamonds orsapphires; the stark and beautiful Allah script in diamonds, mother-of-pearland colored gemstones as well as the classic Evil Eye rendered in diamonds witha dramatic blue sapphire iris at its centre. Misbahas, or Islamic prayer beads,also form an essential part of Mouawad’s offerings for Ramadan. These arestunning traditional pieces designed with diamonds and black onyx detailing,and serve as ideal gifts for gentlemen.

Exhibitions & Events

CHANEL announces their latest CULTURE CHANEL exhibition, “La Donna Che Legge”

CULTURE CHANEL exhibition entitled "La Donna Che Legge" ("The woman who reads") will take place at the Ca’ Pesaro International Gallery of Modern Art in Venice, from September 17th 2016 until January 8th 2017. Since its first chapter in 2007, the CULTURE CHANEL project has been realized through a collection of individual exhibitions conceived and curated by Jean-Louis Froment.

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