Market News

Swiss watch exports return to a trend of steady growth in first half of 2010

After a decidedly negative 2009, Swiss watch exports returned to a trend of steady growth throughout the first half of 2010, according to the Swiss Watch Federation. In six months, the sector exported products valued at 7.3 billion francs. It therefore exceeded last year’s level by 19.7 percent, a difference of more than 1.2 billion francs. Main markets like United Arab Emirates rose by 24 percent to 278.4 million francs and Saudi Arabia rose by 25.4 percent to 106.6 million francs compared with the first half of 2009.

Watch exports rose 19.9 percent in July

July’s Swiss watch exports remained perfectly in line with the first half-year trend. Compared to July 2009, their value increased by 19.9 percent, to attain a level of 1.4 billion francs. The cumulative result since the beginning of the year thus stands at 8.7 billion francs, i.e. 19.6 percent more than at the same time last year.

Damas further extends standstill deal with lenders

For the second time, Damas extended a standstill agreement with its creditors to November 30 from September 30. “The Standstill has been extended because of holidays and company’s steering committee of bank lenders has in principle approved the extension, Damas said in a statement.

Lebanon expects 5 percent GDP growth in 2011

Lebanon’s real GDP will grow 5 percent in 2011 while inflation is expected to drop to 2.8 percent by the end of 2011, according to draft budget figures released by the finance ministry. The 2011 budget projects GDP at around $40 billion, of which $3.8 billion will go to service the country’s debt which is expected to reach $55 billion in 2011.

Company News

Hublot flagship store in Singapore

Hublot announced the official opening of the Hublot flagship store in Singapore on 24 of September. Located on the premium ground floor of luxury Mall at Marina Bay Sands, this new store expresses perfectly the brand’s “Art of Fusion” philosophy, with an ingenious combination of steel, carbon fiber, aluminum and singular alloys with wood, leather, rubber and glass.

Grand opening of Jaeger-LeCoultre Boutique in Beirut

Jaeger-LeCoultre has just opened a boutique in Beirut on 16^th September. The grand opening ceremony was attended by Guy Manoukian as the guest of honour. The event also highlighted the exclusive preview of the High Jewellery and High Complication timepiece Collections.

A.Lange & Sohne appoints new CEO

A. Lange & Sohne has appointed Wilhelm Schmid as Chief Executive Officer effective January, 2011. Schmid, 47, a German national, has held several positions in marketing and sales over the last eight years for BMW. As CEO, Schmidt will be entrusted with further developing the brand and its operations.

Blancpain at Cannes International Boat & Yacht Show 2010

Harry Winston celebrates Opus 10th Anniversary

Harry Winston organized an event in its Manufacture to celebrate the 10th year of the Opus Collection. The celebration highlighted the brand’s encounter with the talented independent watchmakers resulting in ten unique works of art.

Tom Cruise wears an IWC watch

Tom Cruise has been wearing his Ingenieur Automatic Vintage watch from IWC. A throwback model of the original, first produced in 1955, the timepiece sells at retail for AED 139,460 ($38,000). This timepiece features an IWC manufactured 80111 calibre automatic movement with Pellaton winding system and integrated shock absorbers.

Maurice Lacroix at Zurich Film Festival

Maurice Lacroix is once again the exclusive watchmaking sponsor of the Zurich Film Festival and the Audience Award this year. As laudator, Maurice Lacroix brand ambassador Sir Bob Geldof in person will present the Audience Award on the closing night to the director of the winning film chosen by the festival audience.

Mouawad collaborates with Kim Kardashian on Fashion Jewelry Line

Pascal Mouawad, a Lebanese jewellery designer is collaborating with Kim Kardashian on a line of fashion jewelry. The debut collection will include 25 statement pieces inspired by “the combination of 1930’s and 1960’s modern era,” Mouawad said.

Pomellato at the 67th International Venice Film Festival

Catherine Deneuve and Tilda Swinton attended the 67th Annual Venice Film Festival wearing Pomellato jewels. Catherine Deneuve wore the necklace, bracelet and earrings in rose gold and brown diamonds and the ring in rose gold, smoky quartz and brown diamonds, all from the Tango Collection. While Tilda Swinton wore a ring in white gold with square faceted emerald and flat rose cut diamonds from the POM POM collection.

Judith Ripka dresses presenter Natalie Morales at the Emmy's

Natalie Morales, television presenter on NBC's Today Show, looked like red carpet royalty at the 2010 Emmy’s wearing Judith Ripka’s Ambrosia Earrings, Cushion Ring, Estate Cuff and Curve Pave Link Bracelet.

Product Launch

Ahmed Seddiqi & Sons launches Issey Miyake watch in the UAE

Ahmed Seddiqi & Sons has launched the distinctive range of VUE watches from iconic fashion brand and watch retailer, Issey Miyake. Designed to offer a new perspective on time, the VUE range has been inspired by a notion of ‘viewing time’ (as VUE is the French equivalent to VEIW in English) where the dial of the watch is analogue, but has been expertly crafted to show only the numbers signifying the current time, and no unnecessary digits.

Officine Panerai presents Luminor 1950 10 Days GMT Ceramica – 4MM

The P.2003 automatic mechanical movement, entirely designed and constructed in-house by Officine Panerai, the black and opaque ceramic, the long power reserve and a second time zone are the distinguishing features of the Luminor 1950 10 Days GMT Ceramica – 44 mm. This timepiece is waterproof to 10 bar (about 100 metres).

Raymond Weil introduces Freelancer Autumn Time

Winter 2010-2011 is set to be a season with a new creation of Raymond Weil, the Freelancer Autumn Time, a new collection cloaked in ultra-chic femininity, with subtle and warm nuances. This timepiece breathes a zephyr of modernity over the jewellery watch, thanks to its exquisite alchemy of design, diamonds and colour.

John Hardy launches new advertising campaign featuring Angela Lindvall

John Hardy has launched a new advertising campaign featuring Angela Lindvall as the brand’s new face. Advertising campaign features Angela wearing Dot Deco in a bamboo forest which was photographed by Sebastian Kim, a favorite photographer of fashion magazines such as Vogue, Interview, V, and Numero.

Exhibitions & Events

India’s ‘Pavilion of the Year’ at Hong Kong Jewellery and Gem Fair 2010

The Gem & Jewellery Export Promotion (GJEPC), the apex body of the Indian Gem & Jewellery industry successfully hosted the Indian Pavilion at the Hong Kong Jewellery show between 14 to 20 September. For the first time in the history of the fair, India is exclusively declared as “The Pavilion of the Year” with special offers of unique and comprehensive promotional plans.

29th MidEast Watch & Jewellery Show

The 29^th edition of the MidEast Watch & Jewellery show will be held from 28 September to 2 October 2010 at Expo Centre Sharjah, United Arab Emirates, under the patronage of His Highness Sheikh Dr. Sultan Bin Mohammed Al Qassimi, Member of the Supreme Council and Ruler of Sharjah. This is the Middle East’s premier bi-annual exhibition showcasing the latest designs and trends in watches, gold, precious stones and diamonds.

Istanbul Jewelry Show – II 2010

Istanbul Jewelry Show – II 2010 is a jewelry event in the Middle & Near East, Russia, CIS Nations, Eastern Europe and North Africa region. The Fair will be held on 14 to 17 October at the Istanbul Expo Center, Istanbul, Turkey. Attendees will see new discoveries, hottest international trends, and creative designs.

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