Market Report

Chopard & the Weinstein Company celebrate the 2014 Academy Awards

Chopard celebrated the latest collaboration with the world of cinema at The Weinstein Company’s party last week. As the Official Partner of the Cannes Film Festival and founder of the Chopard Trophy honoring young acting talents in Cannes every year, Chopard is the official partner of The Weinstein Company 2014 Pre-Oscar party. Caroline Scheufele and Karlie Kloss wore Chopard jewellery.

Market News

Breitling announces partnership with Ahmed Seddiqi & Sons in the UAE

In a press conference held earlier today, the Luxury Swiss watch brand Breitling, has announced a retail partnership with the Ahmed Seddiqi & Sons. The announcement was made in the presence of Breitling president, Theodore Schneider and Mohammed Abdulmagied Seddiqi, SVP Sales & Retail from Ahmed Seddiqi & Sons at the Burj Khalifa in Dubai. Breitling is aiming to increase the number of its outlets to 14 POS across the UAE with its current boutiques in Doha, Dubai, Kuwait City, Manama and Riyadh.

Qatari Mannai Corporation holds 100 % stake in Damas

The Qatari Mannai Corporation has bought from EFG-Hermes its shares of 19% stake in Damas recently for $150 million. Qatari Mannai now holds 100% stake in Damas, which operates more than 300 outlets in The United Arab Emirates, Bahrain, Qatar, Kuwait, Oman and Saudi Arabia.

Pandora takes over Middle East distribution for US$ 20.2 Million

Pandora will take over its own jewellery distribution in the United Arab Emirates, Bahrain, Qatar and Oman after acquiring 100 percent of Pan ME A/S, the current distributor of Pandora products.  The new Pandora Dubai office will also be in charge of its activities in the Middle East region and North Africa. Peter Mark, President of Pandora Central Eastern Europe and the Middle East, said the region is one which “holds great potential for Pandora.” Pan ME A/S recorded sales of $16.6 million in 2013. Pandora paid Pan ME A/S a one-time cash payment of $20.2 million in connection with the acquisition.

GCC economic growth remain stable despite oil price decline

In the GCC, economic growth will remain firm overall in 2014 despite gradual decline in oil prices. The growth will be largely driven by the non-oil sector, but inflation is expected to rise, according to the latest macro economic forecast from economists and analysts at Moody’s Investors Service. Moody’s forecast for 2014-15 shows that oil prices will gradually decline but is expected to remain above $100 per barrel (pb) for Brent crude.

Middle East consumers spend most on luxury goods

Middle East consumers have the highest per capita spending on luxury goods in the world at about $1,900, according to the latest Bain & Company report. Luxury goods sectors favored by the region's spenders include leather goods, watches, cars and overseas holidays, while Dubai retains its title as the biggest market, the report added. Globally, Bain and Co said the number of luxury consumers has more than tripled over the past 20 years, from roughly 90 million in 1995 to 330 million at the end of 2013.

Dubai hotel receive over 11 million guests

Hotels in Dubai attracted over 11 million guests in 2013, representing a 10.6 per cent increase over 2012, Dubai’s Department of Tourism and Commerce Marketing (DTCM) said in a statement. Hotel revenues stood at Dh21.84 billion for 2013, achieving a 16.1 per cent increase over 2012, according to DTCM. The growth in visitor numbers marks Dubai’s progress in achieving its tourism vision for 2020, under which the emirate is expected to welcome 20 million visitors a year. In 2013 occupancy rates rose slightly to 80 per cent compared to 78 per cent in the previous year.

SAINT HONORE unveils the new Coloseo

SAINT HONORE celebrates colour in red, purple, brown, white and champagne. Perfectly complemented by a round case, the new dial with Roman numeral hour-markers. The crocodile leather straps are a harmonious addition to this resolutely elegant line. In a steel, yellow gold PVD or rose gold PVD finish, its crown set with a black onyx cabochon the hallmark of the Coloseo line.

Company News

Vacheron Constantin is participating in the European Artistic Crafts Days (JEMA)

Vacheron Constantin is participating for the fourth consecutive year in the European Artistic Crafts Days (JEMA) that will take place on April 4th to 6th 2014 in Paris, throughout France, as well as in London, Milan and Western Switzerland. Vacheron Constantin has undertaken to help make these artistic crafts better known and better understood, notably through exhibitions around the world. The Manufacture wishes to encourage training and the transmission of expertise, support excellence in craftsmanship, and highlight the Artistic Crafts by demonstrating the important role they play within contemporary design.

Carl F. Bucherer supports the new Rinspeed XchangE project

Carl F. Bucherer supports latest project from Frank M. Rinderknecht for this year's Geneva Motor Show. Rinspeed will unveil its innovative new concept car, the driverless XchangE. This timepiece enables passengers to keep track of three different time zones at once. The watch is blue in color to match the car and embedded in a luxurious, engraved globe, which is probably also the most exclusive watch winder. When the car is idling, the sphere turns continuously, thus guaranteeing that the watch is always fully wound. Effectively, this makes the entire car a watch winder. The watch winder allows travelers to keep track of time even if their journey takes them through different time zones.

Jean Paul Gaultier making strong debut in horology

In a recent press conference held by Swiss Watch Group in conjunction with Paris Gallery - Dubai, the new collection of elegant timepieces of Jean Paul Gaultier were introduced to the U.A.E media in an elegant style at the Capital Club at Dubai International Financial Center last week. The new collection will be available in the U.A.E and Qatar via Paris Gallery.    

Product Launch

Breitling presents Bentley 6.75 Midnight Carbon

Bentley 6.75 chronograph ramps up the power and the audacity in an entirely black-clad limited series. The special ultra-resistant carbon-based treatment enhances the sporting style of the satin-brushed steel case with its taut, dynamic lines and its knurled bezel inspired by Bentley’s famous radiator grilles. The dial also exudes dark elegance; the caseback springs its own surprise, since the five-spoke motif reprising the distinctive design of Bentley wheel rims also appears in black against the metallic background. Cambered sapphire crystal, glare proofed on both sides. The Bentley 6.75 Midnight Carbon comes on a rubber strap.

Arnold & Son reveals Double Tourbillon Escapement Dual Time Watch

Arnold & Son celebrates its 250th anniversary with a timepiece that reflects its famed past with a visionary look forward. The unique and impressive Double Tourbillon Escapement Dual Time watch – DTE. The watch features superlative Haute Horlogerie finishing. The dial side of the timepiece offers symmetry and depth. It features two white lacquered domed dials. The backdrop for these double lacquered dials and double tourbillon escapements is a magnificently decorated vertical Côtes de Genève stripes plate. The DTE is created in 18-carat red gold. The back of the watch features a transparent sapphire crystal for viewing the splendidly decorated nickel-silver movement. The Strap is hand-stitched in brown or black alligator leather.

Wintex Milano reveals SERPE watch

Wintex Milano presents a new bracelet watch for women which seductively and enchantingly twist around your wrist. The features are: steel case, "snake" shaped elastic bracelet, coloured rubber versions and genuine leather or horsy different colours.

Exhibitions & Events

Istanbul Jewelry Show March 2014

UBM Rotaforte will organise “Istanbul Jewelry Show March” which will be held from  20 - 23 March 2014 at Istanbul Exhibition Center. The 4 day event will occupy more than 60,000 square metres of exhibition space in 6 halls and gather over 1200 local and over seas exhibitors from 25 countries. There will be 6 National and Group pavilions.  “Istanbul Jewelry Show March” provides a unique meeting platform to explore new business opportunities, ideal place to source for wide range of new products. “Istanbul Jewelry Show March” to be an ideal place for sourcing products on every category of price and quality, from price point merchandise to high-end design jewelry.

Celebrity News

Jeremy Renner wears Jaeger-LeCoultre to the Academy Awards

Actor Jeremy Renner wore a Master Ultra Thin 41 watch at the Academy Awards last week.

Lea Seydoux wears Chopard to the Cesars Awards

Lea Seydoux wore a pair of white gold earrings set with fancy-cut diamonds and a white gold ring set with an oval-shaped sapphire to the Cesars awards.

Stars Shine in Piaget at the Film Independent Spirit Awards 2014

Greta Gerwig wore Piaget rose earrings paired with a Piaget Possession ring, both in white gold and diamonds. Brie Larson wore dramatic vintage yellow gold Piaget cuff with a coral dial and turquoise accents, along with simple Piaget rose gold stud earrings. Gong Li wore pair of Piaget rose passion torsade earrings, a Piaget rose cocktail ring, a rose high jewelry watch. Steve McQueen wore black Piaget polo forty-five.  Matthew McConnaughey wore Piaget Gouverneur chronograph in rose gold on a black alligator strap along with the pair of rose gold and Onyx.

Tiffany & Co. jewels sparkled at the Academy Awards

Amy Adams, Jessica Biel and Catherine Martin, personified glamour in Tiffany & Co. jewelry from the iconic Blue Book Collection at the Oscars. Amy Adams wore Rhodochrosite, Lapis and Turquoise Earrings with Diamonds in yellow gold from the 2014 Blue Book Collection. Jessica Biel wore Emerald-cut Aquamarine and Diamond Drop Earrings in platinum from the 2014 Blue Book Collection and Round and Marquee Diamond Cluster Necklace in platinum. Catherine Martin Wore Jean Schlumberger Diamond X Bracelet in 18k gold and platinum and Jean Schlumberger Arrows Brooch.

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