UAE economy growth set for a sustainable boom; Qatar likely to see 6% GDP growth this year; Abu Dhabi sees 32 percent rise in hotel guests as revenue climbs

   
 
 

Interviews

 

Independent Thinking Stirs the Watch World

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There is an entire sub-section of the watch industry that is frequently overlooked by the general public, but for those in the know about watches – this sect offers some of  the most exciting and ambitious  timepieces on the market. The independent watchmaking community consists of small brands typically run by just a few great thinkers and doers at the helm. These   ultra-passionate watchmakers think outside the proverbial box and pursue their dreams – albeit mostly in limited numbers – to unveil artistically, aesthetically and technically advanced watches.
Because the independent watchmakers are usually a lot more adaptable and acceptable to unusual technology and design concepts, and because they typically create small lots of watches, the timepieces are generally more expensive than other brands -- and more collectible. Often these are true investment pieces genuinely meant to be worn as art on the wrist.

“Watchmaking is the proof of human genius,” says Maximilian Busser, founder of MB&F Horological Lab.  “The first tower clocks were transformed from stone and metal in the 1200s into timekeeping instruments. The watch is the oldest man-made contraption still in production today.”

MB&F (an acronym for Max Busser and Friends) is a group of advanced watchmakers, designers and engineers who work together to create some of the most futuristic looking timepieces based on traditional watch making skills.

“There is no practical reason anymore to buy a watch,” concedes Busser. “If you want to know the time, look elsewhere, a watch is for art and beauty. We make watches with 564 parts in one movement and all it does is give the time and date correctly, but the movement is a work of art.”
Indeed, independent watchmaking brands base their masterpieces of art for the wrist on their passions, and bring them to fruition in stellar style. In addition to MB&F, among those who were pioneers in this field and are now leaders of the pack:  Christophe Claret, FP Journe, Greubel Forsey, Hautlence, HYT, Richard Mille and Peter Speake Marin, among others. Thanks to the visionary thinking of these watchmakers, and to progress in technology, this new breed of independents is alive and thriving.

So what types of timepieces are we seeing from these brands? Everything from watches with tiny alien sculptures on the dial that act as the power reserve indicator to watches that utilize fluid to indicate time, and more. Not only are these brilliant minds turning to high-tech materials, but also they are unveiling unconventional multi-dimensional watches that are stopping people in their tracks.

MB&F, for instance, this year did a superb job of   blending classical watchmaking concepts with futuristic implementation and multidimensional appeal.  The brand’s newest Legacy Machine No. 1 Xia Hang watch with the world’s first vertical power reserve indicator – in the form of a sculpted alien on the dial. Indeed, the tiny aluminum alien sits on the dial with his head fully raised while the watch is fully wound and lowers his head as the 45-hour power reserve dwindles to the end. Winding the watch to power the mechanics is what breathes life into the 1/8” tall alien so he raises his head and sits straight up.

Bringing the concept of demonstrating how a mechanical watch runs out of power and then winds up again is something Busser struggled with for years – trying to find exactly the right vehicle to bring it to fruition.  He found that when conduit when he x met Chinese artist Xia Hang – creator of sculptures that he calls comma men but that really look like aliens. A full year in the research and development stages, the Legacy Machine No. 1 Xia Hang’s vertical power reserve indicator is driven by an ultra-flat differential with ceramic bearings – thereby offering a longer-lasting mechanism. Naturally MB&F had to develop the articulation of the sculpture for this process, which also took some time and was made possible by a concealed hinge. The tiny micro-mechanical sculpture is created in aluminum to minimize energy requirements. This new piece joins the brand’s very distinctive repertoire of Machines that run the gamut from spaceship-esq to frog like.  “Sure we could have done this sort of design 20 years ago, but was the world ready for it? I don’t think so,” says Busser. 

What, then, makes the world ready for it now? In part, this new frontier in watchmaking – made possible in part thanks to advancements in technology, micro-technology and materials – is like a breadth of fresh air that complements traditional timepieces. Additionally, they are alluring because of the materials used in a majority of them.  In fact, these watches are often made using high-tech materials that come to the watchmaking world from other arenas such as aviation, automotive or medical fields: titanium, aluminum, carbon fiber and even proprietary inventive alloys.

HYT is revolutionary in that this brand uses liquid to indicate time. Founder of the brand, Vincent Perriard, spent years developing the concept before unveiling his first watch just about three years ago. Now, the brand continues to unveil new models made in different materials and with a variety of colors of liquid that complement the brand’s original yellow. . The new H1 Red 2, fueled by more than a year of R&D, is now offered in titanium and micro-blasted 5N pink gold with retrograde liquid hours in red, and the HYT H2 titanium and white gold blue watch features bold blue liquid.

/Focus on Women/

Richard Mille, owner of the brand that bears his name and that was one of the first to venture into the world of independent branding with forward-thinking three-dimensional type wristwatches just about 12 years ago, says “It is our obligation to make watches emotionally exciting. They should be artistic, technical expressions of creativity and usefulness. ”

This year Mille focused firmly on creating his masterpieces for women, and unveiled, among other models, the RM 19 Tourbillon Natalie Portman, designed in tandem with Portman and featuring a spider motif in diamonds incorporated into the movement. The brand also releases the e avant-garde RM07-01, housing a skeletonized automatic movement with titanium bridges made specifically for this watch, and crafted in the very advanced ATZ ceramic.

Similarly, Claret – renowned for his acoustical abilities with repeater and chiming watches – adds his first women’s timepiece to the lineup with the Margot. Reminiscent of his game watches for men that actually enable the wearer to play casino games on them, the Margot features a daisy on the dial whose petals can actually be mechanically plucked in the game of “He  loves me, he loves me not.”

With the press of a pusher at 2:00, the watch comes to life: Each time the wearer presses the pusher, a single petal or a pair of petals randomly falls off the flower – disappearing beneath the dial. Finally, the answer to the question appears in French calligraphy at 4:00. Making the watch ever more intriguing is the fact that with each press, a melodic chime resonates in typical Claret style. The dial of the limited edition watch is beautifully romantic with a natural mother of pearl in pale blue with a white-petaled daisy.

Also focusing on women, but in a different vein, F.P. Journe, unveils his first women’s watch line. Making it even more intriguing is the fact that Journe opted to create this first-ever quartz powered watch.  Called Elegante, the line has a very special feature: when it lays flat for more than 30 minutes, it stops displaying the time, but when you pick it up again, the motion wakes it up and it automatically moves to the proper time in the quickest way possible, forward or backward. The watch was eight years in the Research and development stages and houses two different movements, one for the second and one for the hours and minutes to minimize the consumption of battery life.

/ Classic Thinking/

There are also independent brands that offer a classic look on time that is ultra desirable. Such is the case with Peter Speake-Marin, whose passion for traditional watchmaking blossoms in his work. As he branches out and grows the brand to appeal to more collectors and lovers, he implements a strong collection under the Spirit Wing series.  New this year is the Spirit Wing Commander Big Date, a chronograph and even a tourbillon. These watches are not only highly legible, but also extremely complex to create. The Spirit Wing Commander big date, for instance features a multi-layered   three-dimensional dial that required special construction. To create it, a 3D mould was produced in order to generate a negative mould, in which the lacquer and Super-Luminova were applied by hand to achieve the right colors. When the materials set, the one-piece dial is removed from the mould and bonded to the dial plate.  The movement of the watch is the Caliber 1024SPM with automatic wind and 48 hours of power reserve.  Engraved on the caseback – in typical Speake-Marin style – are the words “Fight, Love & Persevere.”

Hautlence, a brand with an avant-garde appeal to its truly high end pieces made with patented concepts and visionary mechanics, has unveiled a collection designed to be more affordable, as well. The new Destination watch is, as everything is from Hautlence, superbly crafted and

Technologically advanced, but brings the entry price of approximately $60,000 for a Hautlence down to just over $20,000. The watch features a dual time zone and day/night indicator and uses a Soprod movement instead of an in-house Hautlence movement to keep the price down. The watch, inspired by the architecture of the Atelier-made pieces, is offered in multiple materials, including steel with black DLC.

The list goes on, but suffice it to say that the developments and strides made by these independent brands are impressive. In fact, some are already reaching the status of a decade of success. Mille has perhaps the longest time in business,  and brands such as  Hautlence and Greubel Forsey are celebrating 10 years this year --  – demonstrating their staying power , growing, and ensuring their future. In fact, all say they are always aware of possible future needs, as well, and whenever they make a watch, they stock spare parts, movement components, and more to be used in the future for after-sales service and potential  repairs.

“We are not here for the short term,” says Guillame Tetu, founder of Hautlence. “We want to grow and be here for centuries to come.”

Other Positives of buying from brands like these?  The timepieces make an excellent investment thanks to their exclusivity and hand craftsmanship. Since production numbers play a role in how a watch is priced and how it holds its value, these are guaranteed to not only hold their value but increase as time goes on.  Additionally, there is a great personal touch that goes into the purchase of one of these timepieces. Because the brands are small, and the creators are involved with their hearts and souls, often a purchaser not only meets the founder or watchmaker, but also builds a relationship. This personal attention, along with individualistic vision, makes these brands even more alluring.

 

 
 
 

Market Report

 

Tiffany & Co. Opens Paris Flagship Store on the Champs-Élysées

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Tiffany & Co. has opened its flagship store on Champs-Élysées, the Parisian avenue known worldwide for its high-end shopping. The 10,675 square-foot, three-floor store is located in a corner building Women’s Wear Daily reported last week. Tiffany celebrated the store’s opening by hosting the Tiffany Diamond, originally cut in Paris in the 19th century, for a limited period of time in the store’s library, located on the top floor. The store is Tiffany’s fourth point of sale in Paris.

 
 

Market News

 

UAE economy growth set for a sustainable boom

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The UAE economy grew 4.7 per cent in 20013, the highest since 2006 (9.9 per cent), supported by higher oil production and strong recovery in domestic demand. This growth trend is forecast to continue into 2014 supported by strong non-hydrocarbon growth, according to Institute of International Finance (IIF). While the overall UAE economic growth (real GDP) is expected to moderate to 4.2 per cent this year due to a decline in oil revenues, the IIF economists have forecast a non-oil sector growth of 5.2 per cent. While Abu Dhabi’s economy is projected to grow 3.6 per cent this year, Dubai’s GDP is expected to grow in excess of 5 per cent.

 

Qatar likely to see 6% GDP growth this year, says IMF

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Qatar GDP’s growth forecast of about six percent this year, with similar growth expected over the medium term driven by public investments. IMF report indicated that inflation in the Gulf state is projected to stay benign at 3-4 percent going forward, partly due to an anticipated decline in commodity prices, including for food, and the fixed exchange rate. Potential challenges, according to the same report, include the risk of the economy over-heating in the near term and over-capacity in the medium term as a result of the public investment programme.

 

Abu Dhabi sees 32 percent rise in hotel guests as revenue climbs

Hotels in Abu Dhabi saw occupancy climb to 79 per cent during the first quarter of the year as 834,771 guests checked in, marking a 32 per cent increase over the same period in 2013, said by the Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi). Since the first quarter of last year, 11 more hotels opened in the emirate, which currently has 152 hotels and hotel apartments, according to a statement by TCA Abu Dhabi. Hotel room stock now stands at 26,811. Hotels’ total revenue touched Dh1, 585 billion, marking an increase of 11 per cent.

 

Dubai jewel thieves of Wafi Mall in 2007 were arrested in Greece

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The Greek police authority has arrested last week four Serbians suspected of being members of the Pink Panthers gang, which was involved in an AED55m ($15m) robbery at Wafi Mall in Dubai in 2007. The Dubai Wafi Mall robbery was a key driver in the creation of Interpol’s Project Pink Panthers in 2007 to coordinate global activities after DNA profiles sent by the UAE from the Dubai robbery were matched against others submitted to the Interpol General Secretariat from a robbery in Lichtenstein in 2006, revealing that the armed robbery ring was active not just in Europe, but around the world. The main objective of Project Pink Panthers is to centralize information related to the suspects of such crimes, identifying material, the crimes in which they are involved in, and their criminal partnerships and contacts. The group is believed to include approximately 800 individuals responsible for nearly 300 robberies in 35 countries since 1999, with the value of stolen jewellery estimated at more than $485m.

 

Chopard acquires five-star Parisian hotel

Chopard has purchased Union Hôtelière Parisienne – the parent company of the five-star Hôtel de Vendôme on the esteemed Place Vendôme in Paris. The company has not disclosed the hotel’s purchase price, but has revealed that this is the first of several planned investments for the group. Chopard's flagship Paris boutique has been housed in the ground floor of the 18th-century building for over 10 years. The prestigious jeweller will now also take over the hotel's 29 rooms and restaurant in a move that the company says will “kick off a diversification project for the group”. The hotel, which has sister properties on the French Riviera, in Megève in the French Alps and in Buenos Aires, carries 10 suites including a penthouse, along with its own restaurant and bar.

 

Christie’s announces the sale of THE BLUE to be on auctions

Christie’s announces the sale of THE BLUE, the largest flawless vivid blue diamond in the world, this sensational stone will lead Christie’s auction of Magnificent Jewels to be held in Geneva on 14 May 2014 at the Four Seasons Hotel des Bergues. THE BLUE is the leading gem of the 250 lot strong sale which is estimated to fetch a total in the region of US$80 million / SFr.73 million.

 
 

Company News

 

Van Cleef & Arpels pays tribute to a Poetic Astronomy

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Van Cleef & Arpels pays tribute to a captivating chapter in its watchmaking history: Poetic Astronomy™. Under the Planetarium Dome of the Sharjah Museum of Islamic Civilization, the Maison welcomed its friend in cosmic scenery to preview the new creations that draw a dazzling spectacle of the heavens and stars. From the cycles of the sun and moon to the wonders of a starry night and the dreamlike patterns of the constellations, the marvels of the universe have inspired the new timepieces creations that combine the poetry of the spheres with the measurement of time.

 

Chopard opens its first Boutique in Saudi Arabia

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Chopard & Attar United officially inaugurated the first Chopard Boutique in Saudi Arabia at the Panorama Mall in Riyadh. The 210 sqm boutique is decorated according to Chopard’s concept designed by the famous French architect Thierry W. Despont. Light-toned wood (white oak), opulent leathers, silk and precious velvet, along with a fireplace: Each detail of these points of sale has been thought through i distribution network.

 

Ahmed Seddiqi & Sons adds Laurent Ferrier to its portfolio

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Ahmed Seddiqi & Sons adds independent watch maker Laurent Ferrier to premium portfolio offerings. Laurent Ferrier offers updated horological fundamentals through a renewal of origins, positioning it in an exclusive circle of mechanical Haute Horlogerie. Available for the first time in the United Arab Emirates at Ahmed Seddiqi & Sons, Laurent Ferrier develops movements crafted in harmony with the finest traditions.

 

Alpina launches the “Alpina 4 Summits World Challenge”

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From May 1st until October 31st 2014, runners, hikers and climbers from around the world can compete in the first World Elevation Challenge created by Alpina Watches and AllTrails. During each of the 4 challenges participants will track their adventures to accumulate the same elevation as one of the world’s most legendary summits: Matterhorn, Kilimanjaro, Mount McKinley and Everest. The participants will be able to track their progress, as well as see their global ranking in real-time, using the AllTrails App. Anyone, from any country in the world, can participate, download the free AllTrails mobile app from Apple Store or Google Play, as well as any existing AllTrails members and create your free account to record your tracks and the progress of your climbs.

 

Cricket superstar Pietersen Visits Citizen showroom in Dubai

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England’s Kevin Pietersen, one of the most exciting batsmen in cricket and Brand Ambassador for CITIZEN watches visited their multi brand store in Al Ghurair Centre. Pietersen, who was in Dubai for the Indian Premier League, is a key member of the Delhi Daredevils side. Pietersen toured the showroom and viewed the newly-launched Eco-Drive Metal collection.

 
 

Product Launch

 

Jaeger-LeCoultre unveils GeophysicR 1958 watch

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Jaeger-LeCoultre reveals two exclusive watches – a model in steel and in pink gold and a model in platinum. The dial is in steel and pink gold version - “Geophysic®” and 3, 6, 9 and 12 numerals and applied hour-markers, rhodium-plated (steel version) and gold-toned (pink gold version) and the case back is engraved in a tribute to the International Geophysical Year. Each version of the Geophysic® watch is fitted with an alligator leather strap secured by an unusual pin buckle in colours matching the metal of the case: black for the steel model and chocolate brown for the pink gold variation. A platinum model is another aspect of the Geophysic® watch is the dial with hand-applied markers, numerals at 6 and 12, and rhodium-plated, dagger-shaped hands indicating hours, minutes and seconds. This version is mounted on a blue alligator strap.

 

Carl F. Bucherer presents Pathos Diva Haute Joaillerie

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Pathos Diva Haute Joaillerie is unveiled by Carl F. Bucherer in Lucerne. The Pathos Diva Haute Joaillerie is set with countless baguette and brilliant cut diamonds and housed in a case of pure white gold. Gemstones adorn the dial in a gracefully flowing hourglass shape. The aureole a daintily sculpted halo that gives the watch an incomparable sense of lightness. The bracelet is in white gold with diamonds baguette-cut.

 

Movado reveals Red Label Calendomatic

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Movado presents Red Label collection – Calendomatic, is crafted in stainless steel. Its round polished case with extended lugs has a sapphire crystal; the distinctive matte black dial features a unique, rotating major cities-of-the-world disk at its center. The dial is detailed by silver-toned skeleton dauphine hour and minute hands; Movado is etched in minute track and subtle red lettering. This new Calendomatic is offered on a matte black calfskin strap with matching top-stitching on the outside and red stitching on the inside, and stainless steel classic tongue buckle; or on a sportive 3-row link bracelet with alternating brushed/polished finish.

 
 

Exhibitions & Events

 

Montegrappa Dragon Pens to highlight in June Auction at Bonhams

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Bonhams, the third largest international fine art auction house, is to present an auction of Fine Writing Instruments with more than 260 examples on offer, June 11 in San Francisco. Montegrappa Dragon Yellow Gold and Cut White Diamonds Limited Edition Prova d'Autore Fountain Pen leads the sale. Its heavy, elaborately hand-finished solid yellow gold dragon overlay is a work of art, with brilliant-cut white diamonds and its eyes are set with two rubies. Its marbled black celluloid body provides striking contrast to the overlay and the finishing touch is in two-tone gold nib.

 

Sotheby’s New York auction of Important Watches to start on 10 June 2014

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Sotheby’s New York auction of Important Watches is on 10 June 2014 will offer a remarkable selection of wristwatches by Patek Philippe featuring a groundbreaking group of five pieces commissioned in titanium. The collection is led by the Ref 5001T Sky Moon Tourbillon, a previously undocumented reference and the only known example of Patek Philippe’s coveted Sky Moon Tourbillon in titanium.

 
 

Celebrity News

 

Victoria Beckham & Rihanna wears Jacob & CO jewelry at MET Gala NYC 2014

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Rihanna wore diamond choker necklace and diamond stud earrings from the High Jewelry Collection - Jacob & CO. and Victoria Beckham wore diamond drop earrings, set in platinum and an asscher cut diamond line bracelet set in platinum during the 2014 MET Gala in New York.

 

Diane Kruger wears Jaeger-LeCoultre at the MET Gala in NYC

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Diane Kruger wore Jaeger-LeCoultre “secret” vintage jewellery watch, a delicate white-gold creation set in diamonds at MET Gala in New York.

 

Celebrities glowing in Van Cleef & Arpels at the Met Ball

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Dita Von Teese wore “Estate” necklace from 1946 featuring diamonds, topaz and enamel set in yellow gold. Hailee Steinfeld wore “Cosmos” earrings featuring onyx and diamonds and “Cosmos” Between the Finger. Kirsten Dunst wore “Serenitatis” earrings from the “Voyages Extraordinaires” collection featuring diamonds and sapphires set in white gold and “Noeud” bracelet from the “Couture” collection featuring diamonds set in 18K white gold. Gugu Mbatha-Raw wore “Lotus” Between the Finger ring featuring diamonds set in 18K white gold and “Tess” earrings from the “744 Fifth” collection featuring diamonds set in platinum by Van Cleef & Arpels.

 
 
 
 

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