Market News

Swiss Watch Exports falls 12% in October

Swiss watch exports slip 12.3% year on year to $2 billion (CHF 2 billion) in October as exports to Hong Kong, China and the U.S. fell. Wristwatch exports decreased by 13% to $1.9 billion, while other timepiece exports declined 4.4% to $119 million, according to figures from the Federation of the Swiss Watch Industry. The largest drop in exports occurred in watches made from gold and steel, which slid 22% to $260 million. The poor result stems primarily from an acute contraction of the main markets of Asia and the United States, the Federation said. Exports to key consumer markets dropped substantially, with UAE dropped by 15.4%, Saudi Arabia down 8.4%, Kuwait dropped by 15.9% and Hong Kong down 39% to $258 million, exports to the U.S. down 12% to $232 million and sales to China declining 5% to $120 million.

Sultanate of Oman to host the Louis Vuitton America’s Cup World Series in 2016 Event

The Sultanate of Oman will create a rare slice of sporting history when it becomes the first country in the Middle East to host America’s Cup racing by staging the Louis Vuitton America’s Cup World Series Oman in February 2016. A point-scoring event for the opening stages of the 35th America’s Cup in Bermuda, the Louis Vuitton America’s Cup World Series Oman will take place in Muscat from 27-28 February. The America’s Cup trophy took centre stage at the press event hosted by The Chedi, Muscat and attended by David Graham, Oman Sail CEO, Salim Al Mamari, Director General of Tourism Promotion for the Ministry of Tourism, and Paul Gregorowitsch, CEO of Oman Air.

Dubai International Jewellery Week celebrates Jewellery Design Awards

The Jewellery Design Awards in its seventh year and also part of Dubai International Jewellery Week saw top designers in the UAE and beyond recognised for their achievements in jewellery design at an official glittering ceremony which was held in Dubai on 10 December. The “Queen of Jewellery in the Middle East”, Maha Al Sibai, who was also among the panel of judges. Amongst the other judges of the award were Nirupa Bhatt, who heads the operations for India and Middle East of Gemological Institute of America (GIA). Also on the panel Seyed Mohammad Mortazavi, leading Iranian jewellery designer, Nader Freiha, managing director and founder of UAE-based MPP-ME Media, the publishers of "Arabian Watches & Jewellery" Magazine and Rizwan Ali Mahmood, a jewellery specialist.

Company News

Audemars Piguet hosts its 2nd Golf Invitational event in Dubai

Audemars Piguet hosted its prestigious Golf Invitational event in Dubai for the second time, on 23rd November which was held at The Els Club; where Audemars Piguet is the Official Timekeeper, Featuring a Dream Team of eight of Audemars Piguet’s world famous golf ambassadors. During the event, the Manufacture presented its new Royal Oak Perpetual Calendar in Yellow Gold. Audemars Piguet also showcased the Royal Oak Concept Laptimer Michael Schumacher, launched earlier this year.

Richard Mille partner Pablo Mac Donough wins Triple Crown in Argentina

Richard Mille announces the success of their partner Pablo Mac Donough, whose team La Dolfina made history after winning the Triple Crown in Palermo, Argentina, for the third year running. One of the world's best polo players, Mac Donough was wearing his RM 053 Tourbillon throughout the tournament.

Chopard to take part in the Harrods pop-up exhibition in Qatar

Chopard along with partner Al Fardan Jewellery Company to exhibit its jewelry and timepieces at the first Harrods pop-up store in Katara Cultural Village in Qatar. Located on the Eastern Coast of Doha between the West Bay and the Pearl, the Katara Cultural Village is the largest and most multidimensional cultural project of Qatar.

Audemars Piguet celebrates Al Kamandjâti Association’s Award

In the presence of its media founder Ricardo Karam, TAKREEM association hosted its 2015 annual awards ceremony last month at The Music Hall, “Zabeel Saray” Hotel. Audemars Piguet sponsored the Cultural Excellence category: TAKREEM had chosen Al Kamandjâti Association as a winner in this category. Audemars Piguet offered in collaboration with its partners in Dubai, Ahmed Seddiqi and Sons Company, to the winning association Al Kamandjâti, its symbolic “Royal Oak” watch, as an expression of appreciation and respect for their work and achievements. Audemars Piguet also offered a table clock to all winners of the 12 categories of the ceremony.

Carl F. Bucherer opens its boutique at the Dubai Mall

Carl F. Bucherer opens its boutique at The Dubai Mall. The official ribbon cutting ceremony took place with Mr. Sascha Moeri, CEO, and Carl F. Bucherer who was joined by Mr. Ramesh Prabhakar, CEO and Mr. Abraham Koshy, COO, Watch Division, Rivoli Group. The exclusive occasion gave selected guests and watch aficionados the opportunity to explore the Carl F. Bucherer universe with its exquisite creations.

Piaget opens its new boutique in Riyadh

Piaget recently opens its 1st boutique in Riyadh in the kingdom tower, in the presence of the brand director for the Middle East Mr Jean Marc Shammas. The newly opened boutique, which is the 8th one in the region. The ribbon-cutting by the guests of honor was carried out in front of an audience consisting of select media and VIP guests. The boutique is clothed in black and gold as contrasting materials in gloss and matte perfectly complement the dramatic lighting that falls on the pieces in the boutique.

Snyper watches available at Davidoff Boutique in Geneva

Snyper Two are now available for sale in Geneva at the Davidoff Boutique. The watches, Snyper Two with the Cigar Lighter Module Davidoff at the boutique rue de Rive 2 in Geneva.

Paris Gallery opens its first franchise store in Iraq

UAE-based luxury retailer Paris Gallery has opened its first franchise store in Iraq. The store is located in Baghdad and features a variety of international luxury brands across categories like watches, perfumes, cosmetics, eyewear, accessories and leather goods. The group has a network of more than 90 retail stores across the UAE, Saudi Arabia, Qatar, and Bahrain, and a portfolio of over 600 international brands.

Product Launch

Carl F Bucherer presents Patravi TravelTec

The Patravi TravelTec by Carl F. Bucherer in deep matt black, new for Baselworld 2016. Carl F Bucherer completely immerses the model in imposing black, emphasizing the diamond-like-carbon finish on the stainless steel case and wristband. The DLC finish elaborately applied in a multi-stage process fully embraces the durability and lightness of carbon. The compelling deep matt black color of this timepiece is created by the unique blend of carbon material. The striking design is rounded off with a black dial offering a clear display of contrasting light-colored totalizators, indices, and scales.

H. Moser & Cie. introduces Endeavour Small Seconds Bryan Ferry

The Endeavour Small Seconds Bryan Ferry watch will be available from January 2016. The dial is in a lacquered white with a matte finish and with figures whose aesthetic clearly evoke the past, combining black and touches of red. Combined with a rose gold case with sculpted shapes with alternating polished and brushed surfaces, the buffed brown calfskin strap completes the Endeavour Small Seconds Bryan Ferry model.

Ulysse Nardin presents limited edition Freaklab sets

A version of the Freak collection for the first time showcases a re-centered balance wheel, a date function, and the breakthrough UlyChoc safety system. The middle case and horns are crafted of blackened titanium; the case bezel is constructed of carbon fiber, an extremely strong material. The rotating bezel is freed via a safety clip at 6 o’clock. Modeled entirely in black and decorated with a modern and simplistic wave graphic, as well as a carbon fiber pattern – continued throughout the leather strap.

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