Market Report

Harry Winston announces new CEO

Nayla Hayek, chairwoman of The Swatch Group Ltd., is now the CEO of Harry Winston Inc. In a recent statement issued by Swatch Group Hayek, who is the daughter of late Swatch Group founder Nicolas Hayek, is now CEO of Harry Winston. Her nomination is effective immediately. Swatch Group nominated Hayek as chairwoman of Harry Winston when the deal was finalized in March. In early April, it was reported that Harry Winston CEO Frédéric de Narp had left the company and that Hayek had taken over his role. De Narp joined Harry Winston as president and CEO in January 2010.

Market News

Stephane Linder is TAG Heuer new CEO

Luxury goods group (LVMH) has appointed Stéphane Linder as the CEO of the TAG Heuer brand, effective June 1. Linder will replace Jean-Christophe Babin, who was appointed CEO of Bulgari, an LVMH brand member earlier this year.

Mont Blanc and Jaeger-LeCoultre named two new CEOs

Richemont has announced a new changes to its group committee management at Montblanc, naming Jérome Lambert as CEO and Lutz Bethge as non-executive chairman and head of the supervisory board. Lambert will be leaving his position as CEO of Richemont’s Jaeger-LeCoultre, but will remain a member of its group management committee. He will assume his role as CEO of Montblanc July 1. Daniel Riedo, currently the industrial director of Jaeger-LeCoultre, will succeed Lambert as CEO of the brand.

Dubai Gold & Commodities Exchanges Crosses $1 trillion

Dubai’s premier commodities exchange (DGCX) has strengthen its position during the past few months. The exchange announced trading metrics for April 2013 whereby it saw trading volumes increase 139% YoY. This was complemented by the bourse’s total trading volume crossing a record $1 trillion since inception. Trading volume for April totalled 1,336,942 contracts, valued at $48.73 billion, in March volumes totalled 1,072,052. April saw intense volatility in the gold market where the yellow metal dropped 8% in one trading day; this was the biggest one day drop since February 1983.

Rich woman tourist with heart to steal roams Dubai jewellery stores

A rich woman from a well-respected GCC family who came sight-seeing to Dubai has landed herself in trouble, simply because she cannot restrict her urge to steal jewellery. A self-confessed kleptomanic, she now faces robbery charges after police confiscated jewellery worth Dh200, 000 from the hotel suite. The incident came to light when Dubai Police received at least 5 complaints from jewellery stores in the emirate stating theft of precious jewellery, said Lieutenant Colonel Saeed Al Eiyally, Director, CID, Dubai Police. CCTV shots from the respective sites showed the same woman stealing. Her picture was immediately circulated among all jewellery stores in order to trap her. As expected, police received a call from one of the retailer in town reporting the presence of the woman at their store. The salesmen kept her busy until cops arrived. And interestingly, even there she had managed to steal an item. Police nabbed her at the door. She was taken to her hotel and that’s when her husband learnt of his wife’s behaviour. He was shocked to see the stolen items his wife had hidden in the room. She confessed to five thefts and broke down. She now faces robbery charges.

Dubai Duty Free acknowledged as the largest single airport duty free operation in the world

Dubai Duty Free had received the award for 'Best Duty Free Shopping' at the Business Traveller Middle East award for the 12th consecutive year. Dubai Duty Free has achieved record sales of $1.6bn in 2012 and has been acknowledged as the largest single airport duty free operation in the world, came out tops in the readers' survey conducted by the magazine within the category 'Best Airport in the Middle East for Duty Free Shopping'. The Business Traveller Middle East award is the second major award to be won by Dubai Duty Free this year. In April, the operation received the Duty Free News International (DFNI) Awards for Travel-Retail Excellence for 'Best Airport Travel Retailer of the Year'.

Company News

Chopard jewellery worth $1m stolen from Novotel Suites in Cannes

Chopard jewellery was stolen from Novotel Suites in Cannes ahead of Cannes film festival. A thief creeps into a Cannes hotel room after dark and effortlessly makes off with over $1m worth of jewels destined to be worn by stars on the red carpet of the film festival. A safe box containing more than £660,000 worth of jewellery by Chopard was removed from the wall of a room at the Suite Novotel. On Friday, police continued to interview the Chopard employee, reportedly an American, as well as hotel staff at the Suite Novotel, a grey, modern block situated near a police station and a 15-minute walk from the more luxurious hotels of the Croisette. They were also examining hotel surveillance cameras.

Hublot and the Bol d'Or in new partnership in Switzerland

The world's premier inland lake regatta and is also a huge nautical festival, bringing together almost 600 yachts on the waters of Lake Geneva. Amateurs and professionals, including champions from all over Europe, meet on the starting line in Geneva harbour. And to celebrate this great, highly promising 75th anniversary event, Hublot is honoured and privileged to have been chosen as the official timekeeper for the regatta. The event Start off in front of the Société Nautique de Genève yacht club on Saturday, 15th June. Hublot is supporting the Bol d’Or Mirabaud, and the brand is already looking forward to this unique spectacle, so close to home, on Lake Geneva in Switzerland.

Hermes announced the arrival of Festival des Metiers in London

Hermes to be showcasting its 10 different Hermes crafts at a Festival des Métiers Exhibition in London’s Saatchi Gallery on May 21 to 27, 2013. The craftspeople will be in situ at the exhibition for 7 days making a wide selection of Hermès objects by hand.

Versace jewellery partnership with Samara International

Versace celebrated its fine jewellery partnership with Samra International at an event in Burj Al Arab in Dubai. The event showcased the new Versace fine jewellery collection that was revealed at this year’s Baselworld, as well as the Atelier Versace collection, produced under terms of the new agreement by Samra. It marks the beginning of a new long-term partnership between Versace Group and Samra International, and Versace’s commitment to the fine jewellery market. Samra already operates the first Versace fine jewellery boutique, opened in the Dubai Mall, Dubai in 2009.

Avakian inks student scholarship agreement with Central Saint Martins College

Avakian announced the signing of a three year sponsorship agreement with Central Saint Martins College of Arts and Design in London. Avakian will fund the cost of studies of one final year student annually for each of the next three academic years. A demanding competition process for the first ever Avakian Central Saint Martins scholarship will see around 30 Second Year BA Jewellery students submit their portfolio of work to judges. The winner of the scholarship will also benefit from a 6 month paid internship at the Geneva workshops of the third-generation family jeweller.

Product Launch

Chopard and Ahmed Seddiqi & Sons unveils ‘La Strada’ timepiece collection at Dubai Mall

House of Chopard alongside their UAE retailer paid tribute to the legends of 1950’s Italian cinema and unveils ‘La Strada’ timepiece collection at Dubai Mall.La Strada - the extraordinary evocative power of these words single-handedly conveys the birth of a legend, that of filmmaking according to Federico Fellini. Chopard once again testifies to its intimate ties with cinema by celebrating this masterpiece in the history of the silver screen. The complete collection of watches and jewellery inspired by it embody the unique grace and spirit of La Strada. The newly designed supple and cambered curves are a tribute to eternal femininity, echoing the legendary statuesque figures of the 1950s and the distinctly “couture” spirit that defined the era. The pure, geometrical lines of the case evoke the graphic symmetry of a film reel. It smoothly embraces the wrist, while the round and exquisitely crafted mesh bracelet highlights its inimitable femininity. The watches driven by quartz or mechanical movements come in a wide array of variations: white, rose or yellow gold; gem-set or polished, as well as in full-pavé versions. The jewellery line reflects this unmistakable sensuality and offers the same perfectly balanced lines symbolising elegance and femininity. It comprises a range of pendants, rings and earrings, composing a complete line radiating an aura of immemorial majesty.

Cartier's new Collection Paris Nouvelle Vague in Dubai Mall

The Cartier Collection Paris Nouvelle Vague exhibition is an imaginative gallery of jewellery and cocktail rings. A collection, linked by an invisible creative thread, a French charm whose incomparable spirit is embodied by Parisian ladies, designed as a hymn to her multiple nuances and hues, her secrets of seduction and style. The Collection Paris Nouvelle Vague comprises 7 jewellery lines; each expresses an unconventional vision of Paris through the Parisian women flair.

Richard Mille is the Official Timing Partner of Lotus F1 team

Richard Mille is a partner for the team’s 2013 Formula 1 challenger the E21 for two year in addition to driver overalls. A limited edition watch will be produced using the very latest lightweight materials; pairing the philosophies of both the team and Richard Mille in representing the pinnacle of cutting edge technology.

Harvey Nichols introduces the new IRIS collections by H.Stern

The IRIS collection is a fascinating in deep oceans; reinterpreting this universe in all its perfection. The IRIS collections are Myriades which refers to abundant quantities, infinite. The Mya Maris range is named from mya the name for a genus of shells, and maris the Latin word for from the sea. Pompylius belonging to the same family as the octopus is a creature of intriguing beauty and smooth movements. Axis designates the central imaginary axis of a rotation movement and makes reference to the point that originates the snails of shells. Tellinas are seashells with irregularly oval and elongated forms, with tones that vary between pink and a light gold.

Concord launched new Saratoga Chronograph Black PVD

Concord launched new Saratoga Chronograph Black PVD as the sporting pedigree celebrates the 150th year’s anniversary of Saratoga Race Course. Casual and versatile, the all-new full PVD Concord Saratoga Chronograph is an intricately crafted timepiece whose black PVD finish stainless steel case is firmly anchored on its distinctive mesh-look black PVD-treated stainless steel bracelet with gleaming stainless steel links throughout, resulting in greater suppleness and thus enhanced comfort. This is a shining demonstration of technological advances in action.

Nautica launched a new NST 600 Chrono

Nautica introduced a brand new case design in a classic sport watch collection the NST 600 Chrono. The NST 600 has a trim 46mm stainless steel case featuring a tachymeter etched into the brushed steel bezel. The NST 600 sports watch features the signature J-class sail etched on the crown and sleek, contoured casing and pushers for chrono function.

Swarovski’s CRYSTALLIUM watch awarded as the best product design

Swarovski won the red dot award for best product design 2013. The “CRYSTALLIUM” model features an crystal dial and a round 48 mm case, which enhance the graphic strength of the spider web pattern on the dial. The case back is transparent with a scratch-resistant sapphire crystal glass. It unveils a rotor in “Côtes de Genève” style.

Exhibitions & Events

Antiquorum Achieves Two World Records in May Sale

Antiquorum’s auction of “Important Modern & Vintage Timepieces” held recently at The Mandarin Oriental Hotel in Geneva resulted in an impressive two world records and the remarkable sum of CHF 7,966, 363. The carefully curated selection of 518 timepieces sold for a noteworthy 123% by value with strong international competition from all corners of the globe including China, Hong Kong, Italy, the United States as well as Switzerland. Antiquorum looks forward to its next auction on June 22 in Hong Kong which will feature an important private collection from a Japanese gentleman that includes rare timepieces from Patek Philippe, F.P. Journe and Harry Winston.

Istanbul Jewelry Show to be held from October 3 to 6 2013

The world jewelry and watch industry will gather once again at Istanbul Jewelry Show in October on October 03 to 06, 2013 in 3 halls of Istanbul Fair Center (CNR Expo). Gold jewelry, diamond jewelry, all kinds of precious and coloured gemstones & pearls, silver jewelry, mounting, watches will be displayed just for industry professionals. Istanbul Jewelry Show is used to be a comprehensive marketplace for international jewelry community and professionals.

Gina Lollobrigida's Jewels steal the show at Sotheby's Geneva

Gina Lollobrigida sold for a combined total of CHF 4,741,500 ($4,962,122). An exceptional pair of natural pearl and diamond pendant earrings said to have belonged to the historic collection of the House of Habsburg – which the actress wore on numerous landmark occasions in her career, sold for CHF 2,285,000 ($2,391,321) – an auction record for a pair of natural pearl ear pendants, beating the figure set by Elizabeth Taylor’s pearl earrings in 2011*. Buyers from around the world also clamoured for seminal pieces from the 1950s and 1960s by Bulgari. Ms Lollobrigida’s collection was the centrepiece of an epic auction of Magnificent and Noble Jewels which saw nearly 650 lots selling for a combined total of CHF 74,751,375 ($78,229,556) (est. CHF 46,982,000- 69,900,500 / $49,168,072- 73,152,970).

Celebrity News

Stars dazzled in Tiffany & Co. at the Costume Institute Gala at the Metropolitan Museum of Art

Carey Mulligan dazzled wearing Tiffany & Co. and Gisele Bundchen looked stunning carrying the Sabrina clutch in Graphite Metallic Leather.

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