Market Report

Swatch sees ‘dynamic’ growth this year after market share gains

Swatch Group SA said it expects “dynamic growth” this year, easing concerns of a downturn in key export destination China after market share gains in its core watch business helped sales rise 9.1 per cent last year. "Based on the strong start by all brands in the first few days of January, dynamic growth is expected for the entire year 2014," the world's largest watchmaker said in a statement on Friday, without giving details on its different markets. Gross sales in 2013 rose 8.3 percent to 8.817 billion Swiss francs, just short of estimates for 8.84 billion in a Reuters poll. Sales were up 9.1 percent at constant exchange rates.

Market News

Dubai Shopping Festival to spur gold and jewellery sales

Dubai’s gold and jewellery trade is seeing its biggest rush of buying activity since last year as shoppers make full use of the continued softness in the metal’s prices, now around $1,200 an ounce. It has thus fired up sales during DSF 2014, with daily volumes since January 2 averaging 200-225 kilos from the 180 participating jewellery outlets according to sources at the Gold and Jewellery Group. Since the DSP opening, gold in Dubai was averaging Dh 140.5 a gram for 22-carat. The highest it ever touched was Dh199 in 2012. Last year, average volumes during DSP were 150-170 kilograms, when gold was about $1,640 an ounce.

UAE Consumers to use online shopping

UAE consumers this year will opt for convenience, with household expenditures. Credit card uptake and online shopping are all forecasted to increase this year, according to Gulf News. The key trends will be influenced by several factors, including inflation, renewed confidence, increased reliance on mobile technology, and improved economic conditions. Industry sources also cast a spotlight on high consumerism and growing disposable incomes, although cost-cutting will remain a lifestyle choice for some. Another trend that will likely shape 2014 is increased online shopping.

Company News

Patek Philippe Launches an Arabic Version of its Website

Patek Philippe latest website version in Arabic is launched. This closely follows the very successful “Watch Art Grand Exhibition” which took place in Dubai in January 2012.  www.patek.com in Arabic is a step forward to reach out and further improve communication with the entire Arab-speaking world. Patek Philippe will launch a Japanese version soon in 2014, to be followed by a Russian version in 2015.

OMEGA Measurement Unit will be presented at the Sochi 2014 Olympic Winter Games

The OMEGA Measurement Unit benefits bobsleigh racers and their teams because it gives them immediate access to data; this innovative new device consists of a speed sensor, a 3D acceleration sensor and a 3D gyro-sensor, all of which acquire data in real time. The speed sensor records the bobsleigh’s speed throughout the entire run. The 3-axis gyro-sensor continuously determines the angular velocity of the bobsleigh. Angular velocity is the speed of the bobsleigh as it rotates around the track and is measured as the rate of change of the angle of the bobsleigh subtended at that point on the track by the path of the bobsleigh. The 3-axis acceleration sensor allows continuous determination of the forces acting on the driver during the run.

Pure Gold Jewellers records double digit growth in 2013 and plans for further expansion in GCC

Pure Gold Jewellers recorded double digit growth in 2013 buoyed by lower gold prices and better than expected sales performance during Dubai Shopping Festival, Eid and Diwali. 2013 also saw the company venture into high end jewellery retail with the opening of its ‘Arianna Fine Jewellery’ concept store at Burj Al Arab, Dubai. On the back of Dubai winning the Expo 2020 hosting rights, Pure Gold Group recently announced a plan to invest heavily in the UAE, almost AED 500 million in the UAE in the jewellery business and in La Moda Exclusives high end sunglasses retail chain.

Product Launch

Breguet unveils its Classique “Grande Complication” Tourbillon

Breguet reveals platinum version of the Classique “Grande Complication” Tourbillon extra-thin automatic. The calibre 581DR is fitted into this Classique “Grande Complication” to beat at 4Hz, a high frequency for a Tourbillon. The dial of this platinum watch is decorated with four engine-turned patterns; open-tipped hands in blued steel; a blue sapphire at the centre of the Tourbillon Bridge draws the eye down from the hands. The watch is in Leather Strap with a triple-blade folding clasp. Available in a rose gold case.

Jaeger-LeCoultre introduces Rendez–Vous watch for Valentine’s Day

For Valentine’s Day, Jaeger-LeCoultre dresses its Rendez-Vous watch in a new patent leather strap with a secret in the shape of a dedicated inside pocket serving to hold a message. The case and dial provide the perfect backdrop for the mechanical movement. The automatic calibre features a day/night indicator appearing amid a guilloché décor. The new limited edition red strap with a secret will be available at Jaeger-LeCoultre boutiques around the world for Valentine’s Day, February 14th 2014.

OMEGA introduces Valentine’s Day collections

OMEGA presents the OMEGA Ladymatic in SednaTM  gold; the dial is presented in pearled mother-of-pearl inlaid bracelet. On the bezel are 60 baguette-cut diamonds and a “Brilliant Omega Cut” diamond sparkles on the crown. Secondly The OMEGA Seamaster with Aqua Terra Chrono GMT; the bracelet is crafted in red gold and stainless steel and third is The Omega Dewdrop pendant with white gold necklace.

RJ-Romain Jerome launches the SkyLab timepiece in the U.A.E at Ahmed Seddiqi & Sons

RJ-Romain Jerome announces that the SkyLab timepiece has been launched in the UAE at select Ahmed Seddiqi & Sons stores with pieces of the Apollo 11 mission on its bezel and created to celebrate 40 years of NASA’s first space station. Romain Jerome has designed its Skylab featuring a skeleton structure housed in a case that recalls the original space station and its revolutionary construction by combining sleek lines and a complex system of solar panels. The transparent sapphire glass at the back enhances the sense of zero gravity highlighting the single barrel at 12 o’clock. The watch contains material from Apollo 11 mission on the bezel. Available in Rose Gold, the Skylab timepieces echo the brightness of a stellar system seen from a porthole.

Jaquet Droz launches three new Ateliers d’Art models

Jaquet Droz pays tribute to the sign of the horse by launching three new Ateliers d’Art models. The Three models are specialized in complex techniques: engraving, painting and Grand Feu enamel. Two Arab thoroughbreds have been delicately painted on the ivory enamel dial of the Petite Heure Minute. The horse from the American Northwest depicted in red gold and engraved in bas-relief. On each of these models, a horse's head is also represented on the back of the white gold oscillating weight. The dial of the Petite Heure Minute has been chosen as the showcase to depict a horse rearing up on its hind legs. Jaquet Droz is offering each of these new models with a red gold case and available on a brown or black alligator leather strap.

Boucheron presents Ajouree jewellery watches

The Boucheron Ajourée Frog, sitting next to the lotus flower, the frog seems poised to jump off the case to embrace the watch’s sparkling white lacquer dial. The extraordinary pink ombré effect reflects the changing glow of light on the animal’s “skin” and the subtle radiance of the petals. The Boucheron Ajouree Volute is crafted in white gold and four diamonds suspended at the heart of a set circle. The black brushed satin strap makes the Ajouree Volute jeweled watch look classic and combining luminosity in one. This timepiece has the mysterious charm of French lace. 

TAG HEUER launches Carrera Calibre 17 chronograph

TAG HEUER introduces Carrera Calibre 17 Chronograph; its classic diameter, together with a pure, broad dial and an automatic movement driving two counters at 3 and 9 o’clock, are all subtly reminiscent of a vintage era. TAG HEUER’S editions offer two dial variations: one with a silver flange and counters against anthracite and the second with blue counters and flange against a silver backdrop. They also feature red accents echoing the vintage Heuer logo appearing on both the dial and the case back. The perforated leather straps come in black with a red lining or in blue.

Pomellato reveals Valentine’s collection

Pomellato reveals Valentine’s Day collections - the larger, oval shape ‘Colpo di Fulmine’ (Love At First Sight) rings and earrings with a large central stone, ringed by a contasting colour pavé gemstones, to the new precious ‘Tabou’ rings with diamonds, emeralds, rubies and sapphires, and finally the M’ama Non M’ama’ (Love Me, Love Me Not) rings set with brown diamonds, designed to be mixed and matched depending on her look all are sure to put a sparkle in her eye this Valentines Day.

The Waterman Three Snakes Fountain Pen leads fine writing instruments auction at Bonhams

The Waterman "Three Snakes" Sterling Silver Fountain Pen last month achieved $37,500 leading the Fine Writing Instruments auction at Bonhams New York. Sterling silver barrel & cap entwined with three snakes, two around the barrel, one on the cap, each with two emerald eyes, Waterman 4 nib. Later clip, possibly later feed and nib, some wear to silver at end of pen, thin crack to cap. The pen, circa 1888-98, features six genuine emerald eyes and is one of the earliest Waterman pens. The next auction of Fine Writing Instruments at Bonhams is scheduled to take place March 24, 2014 in San Francisco. 

Swatch presents Sweet Valentine Watch for Valentine’s Day

Sweet Valentine is covered with red and white candy cane stripes. Running straight up and down on the strap and the case, they bend to form a heart at the center of the dial. And to make sure your Sweetheart gets the message, there's a transparent, wide-open heart engraved on the inside of the glass. From the heart at the center the stripes run over the case to the strap and on under the bright red loop to the buckle. The big round box takes up the merry-go-round theme and wraps your love in a flowery red and white embrace.   

Swarovski unveils the Citra Chronograph watch

Swarovski presents one of its newest designs, the Citra Chrono Watch. Deriving from the Citra Sphere line, Citra Chrono harmoniously combines sporty chic style with elegance. The pavé circle center features clear crystals and highlights the striking rose-gold plated case, bringing feminity and sparkle to this easy-to-wear watch. Back of the case with decorative Swanflower® pattern, crown featuring cabochon with Swan logo mark. The strap is in White calfskin leather with a crocodile-effect texture and a rose-gold PVD coated stainless steel ardillon buckle.

Celebrity News

Cate Blanchett wears Van Cleef & Arpels

Cate Blanchett wore Socrate ear studs in white gold and diamonds for 2013 New York Film Critics Circle Awards Ceremony at The Edison Ballroom in New York.

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