Market Report

Audemars Piguet Awarded $9.8 Million in Damages

Audemars Piguet announced that after conducting an extensive trial against, among others, Swiss Watch International which operates the worldofwatches.com website, the United States District Court for the Southern District of New York found that Audemars Piguet has valid trademark rights in its Royal Oak watch design, that such rights were infringed by the defendants’ sales of Swiss Legend Trimix Diver watches with a very similar design and that defendants have engaged in act of unfair competition. The Court awarded the full amount of the defendants’ profits, and trebled them for bad-faith conduct and allows Audemars Piguet to apply for an award of its attorney’s fees and costs of suit.

Market News

Richemont sales continue to climb in Q3

For the third quarter Richemont sales increased by 9 percent at constant exchange rates to $4 billion, with both its jewelry and watch segments enjoying similar growth. Richemont’s Jewellery Maisons sector, comprised of Cartier and Van Cleef & Arpels, saw the strongest year-over-year growth out of all Richemont’s business areas, with sales increasing 10 percent to $2.07 billion in the quarter ended Dec. 31. Sales were up 9 percent for the group’s Specialist Watchmakers, climbing from $1.07 billion in the third quarter of 2012 to $ $1.11 billion during the same period in 2013.  Sales increased in all the company’s other regions--Europe and the Middle East (9 percent), Asia-Pacific (6 percent), and Japan (13 percent). Retail sales, which were up 14 percent, outperformed wholesale sales, which rose 3 percent. Richemont will release its full-year financial results on May 15

Tiffany reported sales +4% to US$ 1.03 billion

Tiffany & Co. reported sales increase to 4% year on year to the total of $1.03 billion during the two-month long Christmas season. Comparable-store sales rose 6%. Revenue from stores in the Americas increased 6% to $550 million, while comparable-store sales rose 7%. Sales from the Asia-Pacific region increased 5% to $196 million and same-store sales were flat.

DH 1 million worth gold was found in Milk Powder Tins at Sharjah Airport

Two Bangladeshi nationals have been arrested by authorities at Sharjah International Airport for trying to smuggle out to their country gold biscuits worth more than a million dirhams. Police said the gold was found concealed in tins of milk powder. The two had admitted that they had earlier used this method to smuggle out 6.4kg of gold to evade payment of import duty in Bangladesh.

Middle East makes up around 20% of Rolls-Royce sales

The Middle East markets, Abu Dhabi and Dubai in particular, combined to record the highest growth rate among all regions as Rolls-Royce Motor Cars recorded its fourth successive record year to tally 3,630 units worldwide in 2013. This region is one of the most profitable for the carmaker given the extensive bespoke services customers need here accounted for around 20 per cent of the total [sales]. Torsten Muller-Otvos, chief executive of Rolls-Royce Motor Cars, said in a phone interview from London that “early last year the US and China were the biggest pillars for Rolls-Royce what the Middle East achieved during the period has been fantastic and all the [individual] markets performed nicely”. Rolls-Royce had tested out the possibilities that bespoke top-ups offered through its Middle East dealerships according to the chief executive.

Ulysse Nardin introduces the Classico Horse watch

Ulysse Nardin presents 2014 with the Classico Horse. The horses on the watch’s dial appear to gallop with liberty. Expansive plains and majestic mountains in the background meet their arrival. The Classico Horse cells are carved with a chisel directly on the dial and filled with enamel. Its earth-tone palette of black, white, tan, gray and green is created from different metallic oxides, perfectly depicting the natural landscape and its small band of beautiful creatures. A limited edition of 88 pieces in rose gold, the Classico Horse features the self-winding UN-815 movement, visible through its sapphire crystal exhibition window located on the case back.

Company News

Carl F. Bucherer announces new brand ambassadors Lisa Haydon and Puja Gupta

Lisa Haydon and Puja Gupta are the new brand ambassadors for Carl F. Bucherer. Lisa Haydon, supermodel, actress and designer and Puja Gupta, model and actress are Carl F.  Bucherer's new “Friends of the Brand”. They provide the perfect combination of commitment and charm.

Al Manara International Jewellery opens its largest Multi Brand Boutique at the Galleria Mall Sowwah Square

Al Manara International Jewellery announced last week the opening of its largest multi-brand boutique at the Galleria Mall Sowwah Square. The boutique is over 340m2 of retail space. The boutique’s unique shop in shop design concept offers clients the opportunity to immerse themselves in the different worlds of each of the brands carried under one roof.

Product Launch

Jaeger-LeCoultre unveils Duomètre Unique Travel Time

Jaeger-LeCoultre’s Duomètre Unique Travel Time dial is grained and silver-toned. The movement in Jaeger-LeCoultre Calibre 383 is crafted, assembled and decorated by hand. The Dual-Wing system is divided into two distinct mechanisms: the first is devoted to displaying the local time, and the second to showing that in a second time zone. Jaeger-LeCoultre Calibre 383 finished movement is revealed through the sapphire crystal caseback. The strap is of Alligator leather, pink gold pin buckle.

Arnold & Son unveils its Time Pyramid collection

Arnold & Son presents Time Pyramid featuring the hand-finished A&S1615 calibre treated in NAC grey, housed in a stainless steel case. The A&S1615 movement with unique skeletonised nickel-silver pyramid shaped architecture. The movement A&S1615 seemingly floats between two sapphire crystals. The dial is in sapphire, circular satin-finished dial frame with chamfered and polished edge. The strap is in hand-stitched black alligator leather. 

Girard-Perregaux reveals Chrono Hawk steel bracelet

The Chrono Hawk line is now available with a stainless steel bracelet. Girard-Perregaux’s Chrono Hawk line instills power and elegance into this resolutely masculine range. The fusion between these two types of links forms a finely balanced and well-proportioned ribbon, making a perfect fit with the strong lines of the Hawk Collection’s watch cases. The bracelet closes easily with a secure folding clasp and features a micro adjustment system to ensure wearing comfort. The Chrono Hawk has both sleek and sporty lines. In this all-steel version, it is available in two colors: silver and metallic blue.

Boucheron presents its Crazy Jungle Seahorse watch

Boucheron reveals the Crazy Jungle Seahorse timepiece; the central seahorse looks as if it is about to glide away through the ocean waves with its sculpted body covered in pink, yellow and orange sapphires. This clever bas relief touch allows the light to roll across the colorful gems. Behind it is delicate round “bubbles” can be perceived and set into the face to add an additional 3D element to the piece. Sunset shaded bejeweled coral, which compliment the seahorse, to envelope the diamond covered watch bezel. Its disc is adorned with a fish that slowly swims in circles as time goes by. The Crazy Jungle Seahorse comes in two incarnations: one with a diamond bezel and an abundance of coral, the other with more soberly stylized seashore.

Jaquet Droz reveals Lady 8 watch

Jaquet Droz’s lucky number has always been present on the dial of the Grande Seconde. A last coquettish touch a pearl or a round precious stone accentuates the precious aspect of the watch. In order to give the Lady 8 more fluid lines, the lugs have given way to an alligator strap attached to the case, which comes in gem-set white or red gold or stainless steel. The new folding clasp also takes the shape of a figure of eight, reaffirming the striking identity of the Lady 8 on the inside of the wrist.

Fendi presents Charming Red in Time for Valentine’s Day

Fendi Chameleon Enamel Dual Color features elongated rectangular cases, curved at the top and bottom for feminine appeal. The new Dual-Color pieces features two different colored lustrous enamel inserts. Chameleon Enamel Dual Color watch is offered with a black or white lacquered dial, or a champagne sunray dial. The luxurious couture collection is created in either a gold-colored case, or a stainless steel. Fendi Crazy Carats Pavé features rolling gemstone mechanism that enables the wearer to change the colors of the gemstone markers at will quickly and easily with the turn of the crown at 3:30 to match her mood. Every Crazy Carats timepiece is built with a choice of three different gemstone colors to offer three very distinctive looks.  Ruby red Fendi alligator strap.

TF Est. 1968 presents The Joker cufflinks

The new Joker cufflinks from the Casino collection, Housed beneath a static dial with six symmetrically arranged apertures, surrounded by a bezel sporting a red and black chequered design reminiscent of the roulette wheel. The band surrounds a disc bearing six gambling motifs set against a white background and right at the heart of the dial, as if tempting fate and taunting the wearer with its familiar wicked grin sits the face of the eternal practical Joker. Colours and materials are available in following versions all steel: steel and rose gold; steel and yellow gold; steel and black pvd.

Celebrity News

Sarah Hyland Wears Carrera y Carrera jewelry

Sarah Hyland wore the Granada ring to pose on the Nokia Theater’s red carpet for the premiere of the latest installment of “The Hunger Games in Los Angeles.

Celebrities shine in Jaeger-LeCoultre timepieces in Los Angeles

Sarah Gadon wore Rendez-Vous Night & Day watch in pink gold at Regal Cinemas L.A. Actor Robert Downey Junior wore a Jaeger-LeCoultre Master Hometime Aston Martin during the 71st presentation of the Golden Globes ceremony held in Los Angeles.

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