Market News

Swatch Group reported 14% sales increase in 2012

The Swatch Group reported solid gains in both sales and profit for the fiscal year 2012. Sales growth was distributed over all continents, in particular outside the greater China area, such as Europe, the United States, Russia and the Middle East. Gross sales climbed 14 percent year over-year from $7.53 billion to $8.58 billion, exceeding the company’s CHF 8 billion ($8.43 billion) goal despite an economic environment that remained “extremely nervous,” Swatch Group said. Operating profit rose 23 percent to $2.09 billion, with operating margins climbing from 23.9 percent to 25.4 percent. Net income rose 26 percent to $1.70 billion. Swatch Group said it added 1,500 jobs in 2012, bringing its total workforce to more than 29,700 employees globally. Gross sales of watches and jewelry outpaced the company’s production segment, climbing 16 percent to $7.70 billion, with watches in all price points contributing to the growth.” Operating profit for the watches and jewelry segment rose 21 percent and operating margin was 23.5 percent. The company said its new chain of Tourbillon retail boutiques “continued to develop extremely well,” specifically in the U.S. market.

State of Qatar increase its stake in Tiffany & co to 11%

The Qatar Investment Authority, the largest shareholder in Tiffany & Co., increased its stake in the retailer to 11.27% last week from 5.2%. This latest news has helped the Tiffany & co shares on the Nasdaq to rise by a solid 6% to more than $70. Tiffany will report its fourth quarter and 2012-2013 fiscal year results on March 22.

UAE easiest Arab place for starting projects according to World Bank

The UAE's ranking in the World Bank's "Ease of Starting Business Index" has jumped from 46 in 2012 to 22 in 2013. Given its smooth procedures and simple tax system, the UAE has emerged as the easiest place in the Arab world for starting investment projects, according to the World Bank. In its "Ease of Starting Business Index" for 2013, the Washington-based bank ranked the UAE 22nd in the world and first in the Arab region. It noted that the country, the second largest Arab economy, jumped from the 46th rank in 2012.

Tag Heuer retailers get nervous for the launch of the e-commerce site

Tag Heuer declared the launch of its first online shopping boutique, stating in a news release that Shop.TAGHeuer.com is paying homage to the brand's eight avant-garde retail boutiques nationwide. Consumers can now purchase TAG Heuer watches online directly from the brand, along with eyewear, cufflinks, luggage and jackets. The site is available to North American customers only. The e-commerce site offers free shipping and access to a range of TAG Heuer timepieces, including higher-end watches and limited-edition styles.

Company News

Hublot recently celebrated the 25th anniversary of Ferrari in U.A.E

Hublot recently celebrated the 25th anniversary of Ferrari in U.A.E. with an exclusive Ferrari Stamped, Ferrari and Hublot hosted one of these very special events at the Al Tayer Ferrari Showroom in Dubai. Hublot watch with only 25 pieces of the U.A.E. Limited Edition exists, making it an immediate collector’s item. On this occasion, Giulio Zauner, who represents Ferrari in Dubai, and Marco Tedeschi, who represents Hublot in the U.A.E., unveiled this exceptional example of craftsmanship in the company of Ferrari and Hublot owners and fans at the Al Tayer Ferrari Showroom in Dubai. ‘Bravo!’ sets the tone for yet another testament to the 360° partnership between Hublot and Ferrari.

Mouawad launches the first watch line

Mouawad recently launched their first line of wrist watches to carry the Mouawad signature at the Armani Hotel in Dubai. The Mouawad Swiss Watch Line debuts with a collection of distinctive chronographs the Grande Ellipse and a collection of ladies Swiss quartz watches La Griffe. The launch of the new line was attended by the company’s three Tri-Guardians, Brothers Fred, Alain and Pascal Mouawad. The Mouawad Grande Ellipse collection includes twelve sophisticated models, ranging from the more formal diamond-studded or plain rose gold Royales, to the bi-color rose gold and stainless steel Sport Villes, and the bi-color rose gold and titanium Sport models. La Griffe is a recherché collection ideal for the tastes of glamorous contemporary women.

S.T.Dupont celebrates the opening of a new boutique and 140th Anniversary in Dubai mall

The French luxury brand officially inaugurated its Middle East flagship boutique in Dubai Mall at a ribbon-cutting presided over by Alain Crevet, President of S.T.Dupont, Patrick Chalhoub, Co-CEO of Chalhoub Group and special guest Sean Hepburn Ferrer, son of legendary Hollywood actress Audrey Hepburn. Taking pride of place at the event was the 140th Anniversary collection, an elegant range of lighters, pens and leather goods, S.T.Dupont’s tribute to their legendary erstwhile customers Audrey Hepburn and Humphrey Bogart. The boutique is located in the ground floor of Dubai Mall.

F.P.Journe watch features in the movie MODIUS

For the first time, a movie features an F.P.Journe watch. The Octa Calendrier is starring in Möbius, the latest film by Eric Rochant, on the wrist of Gregory Lioubov played by Jean Dujardin. The Octa Calendrier is the third complication to be integrated within the Octa automatic winding calibre.

Raymond Weil celebrates its sixth year as Partner of the BRIT Awards

Raymond Weil recently celebrated its sixth year as Official Watch & Timing Partner of The BRIT Awards for 2013 by gifting some of the most recognized names in the music industry. To mark its continued support Raymond Weil created two special edition timepieces, from the famous freelancer collection line, limited to a total of 75 pieces. They were gifted to key artists, presenters and performers during the evening’s celebrations.

Damas Forevermark diamonds sparkle at the 2013 Oscars

Forevermark diamond by Damas, sparkled at the 2013 Oscars. Samantha Barks, Jacki Weaver, Nora Jones and Quvenzhane Wallis, Analeigh Tipton amongst others, wore striking creations featuring Forevermark diamonds, including special Red Carpet pieces created by Forevermark Jewellers such as Stephen Webster and Rahaminov.

Product Launch

Chopard launches La Strada Chronograph in Doha Exhibition

‘Chopard and the movies’ means far more than just a long running love story. LA STRADA is a watch that pays tribute to cinema and to all the great actresses. La Strada is a tribute to black and white film-making, to Fellini’s cinema, to the ageless world of movies. La Strada successful film by the greatest exponent of this genre, Fellini. The latest La Strada Collection was launched recently at the Doha jewellery & watch exhibition in Qatar. During the presence of Caroline Scheufele Co- President of Chopard.

Graham reveals new Silverstone Stowe collection

Graham reveals a new Silverstone Stowe 44 chronograph; the case as 44 mm steel and steel right hand control pushers with "Clous de Paris" high grip pattern is only the beginning of the story of a Silverstone Stowe 44 chronograph. It has a hexagonal bolt secured by an additional crown; its bezel is paved with black ceramic, the new Silverstone Stowe 44 delights with its surprising dial featuring Black carbon dial and seconds counter, black snailed minutes counter with blue ring, black external rim with minute scale White Super-LumiNova hands, white and red minutes counter and chrono handsit, its includes Integrated black tyre tread strap.

Tiffany Blue Book Collection Sparkle Brilliantly at the 85th Academy Awards

Tiffany electrified the red carpet with diamonds of legendary beauty. On Best Supporting Actress winner Anne Hathaway wore a Tiffany diamond necklace from the 2013 Blue Book Collection, Lucida earrings and diamond bracelets completed a perfect picture of glamour.

Boucheron proposed Cypris ring on Mother’s Day

There’s no better way to thank your mum than by gifting her beautiful Cypris ring by Boucheron on Mother’s Day. The Cypris ring is made in two distinct styles, the Black Swan and the White Swan, encrusted with black sapphires and white diamonds respectively. Each ring portrays the elegant swan spreading its wings, and can be worn alone or stacked with the other for a dramatic effect.

Traditional soldier inspired watch goes Retro-Glam with Victorinox's latest collection

Victorinox has announced the launch of the Infantry collection at Seddiqi & Sons, which draws on military inspiration, while still remaining classic and timeless. In the past, watches for soldiers had to have very specific qualities; they had to display a robustness, optimal ergonomics and perfect legibility, even in the toughest conditions. The models of the 2013 Infantry collection have inherited these advantages, plus many others. Without betraying its roots, the collection has evolved and adapted to the stylistic trends of today. All models are waterproof to 100 meters and have a 40 mm case signs that they cater to everyone, both men and women, and are true companions for everyday life. The timepieces are available at Seddiqi & Sons stores across the UAE

Exhibitions & Events

The success of the 10th Anniversary edition of Doha Jewelry & Watches Exhibition

Qatar Tourism Authority (QTA) announced record-breaking figures for the 10th anniversary edition of the Doha Jewelry & Watches Exhibition that ended on 3 March 2013 after a packed seven days of visitors and business deals. Visitors to the event increased by 50% this year compared to last year’s exhibition. Opened by the Prime Minister and Foreign Minister H E Sheikh Hamad bin Jassem bin Jabor Al Thani, and in the presence of VIPs and exhibitors, and on the opening night, QTA Chairman, HE Eng Issa Al-Mohannadi cut a giant 10th anniversary cake that symbolized the success of the show that has grown over a decade.

The IIJS inaugurates its Sixth edition in Mumbai

The Gem and Jewellery Export Promotion Council recently inaugurated its Sixth edition of Signature at the Bombay Convention & Exhibition Centre (NSE Complex), in Mumbai. IIJS Signature 2013 being held from Feb 22-25, 2013 is the largest of the Signature event held thus far with participation from over 550 exhibitors and over 7000 National and International visitors. The event was inaugurated by Chief Guest, Smt. Rita Menon, IAS, Chairperson &Managing Director, India Trade Promotion Organization, Guests of Honour, Mr. Stephen Lussier, CEO, Forevermark Diamonds Pvt Ltd, London and Shri. Siddharth, Joint Secretary, Ministry of Commerce & Industry along with Chairman, GJEPC, Shri. Vipul Shah, Vice Chairman, GJEPC Shri. Pankaj Parekh and other senior officials from GJEPC and eminent members of the trade.

Celebrity News

Jaeger-LeCoultre timepieces seen on the wrist of Emmanuelle Riva at Cesars and Oscars

Emmanuelle Riva received a César Award as Best Actress, the Awards Ceremony was held at Théatre de Chatelet in Paris, the renowned actress chose a Jaeger-LeCoultre’s 101 Etrier watch and Emmanuelle Riva wore Jaeger-LeCoultre Duoplan Joaillerie vintage watch during the Oscars night.

Madalina Ghenea wore Damiani Jewels at the Los Angeles Vanity Fair Party

Actress Madalina Ghenea chose Damiani jewels for the Vanity Fair party following the Academy Awards ceremony. Madalina, pictured here with actor Gerard Butler, wore Damiani Sophia Loren necklace and earrings, in pink gold with white diamonds.

Hollywood actress Amy Adams wears Mouawad diamonds on Oscar’s night

The beautiful and talented Academy Award actress and nominee Amy Adams grabbed the spotlight at the 85th Academy Awards shimmering in a Mouawad diamond studded haute joaillerie suite. Amy Adams hit the red carpet wearing diamond and white gold earrings, a diamond and platinum bracelet, and a diamond and white gold ring. The suite designed and crafted by Mouawad is valued at $1 million (Dh3.67 million).

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