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Italian Jeweler Buccellati acquired by Chinese Conglomerate, Pandora chief warns of tough US market ahead, BVLGARI Hotel Beijing to open in September 2017
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Market News
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Italian Jeweler Buccellati acquired by Chinese Conglomerate.
Gangsu Gangtai Holding, a Chinese conglomerate, has completed its acquisition of an 85% stake in the Italian high jewelry house, Buccellati, in a transaction based on an equity value of €230 million ($271 million) for 100% of the company. The remaining 15 percent stake will be divided between Clessidra and the Buccellatis, with members of the Buccellati family, including designer Lucrezia and Creative Director and Honorary Chairman Andrea, remaining with the company.
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Pandora chief warns of tough US market ahead.
A Danish jewellery maker that's been targeted by hedge funds betting on its decline says it faces a challenging future in the all-important US market.
Shares in Pandora sank as much as 12% in Copenhagen, its biggest fall since April. Chief executive officer Anders Colding Friis said in an interview earlier this week that there are some key hurdles that retailers in the US face, as consumers there change their behaviour.
'The decline in US shopping mall traffic has been going on for a while and looks set to continue, Friis told Bloomberg by phone, after publishing second-quarter results that missed estimates. Pandora's market value has plunged about 27% this year.
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BVLGARI Hotel Beijing to open in September 2017.
The Bulgari Group announces the opening of The Bulgari Hotel Beijing on September 27th 2017, an Urban Resort blending Art and Nature in the Chinese capital. |
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Company News
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‘WatchInWatchOut’ Campaign at 1915 by Seddiqi & Sons.
1915 by Seddiqi & Sons, the one-stop destination for the latest trends in fashion watches, jewelry pieces and accessories, has successfully gathered around 2,200 watches from its recent #WatchInWatchOut campaign that was concluded in the month of May. These watches were presented during a symbolic ceremony at UAE Red Crescent offices in Dubai in the presence of Osama Ibrahim Seddiqi and Mohammed Abdulhamied Seddiqi from 1915 by Seddiqi & Sons , and also Mohammed Al Zarouni from UAE Red Crescent who accepted them on behalf of the beneficiaries. |
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Product Launch
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Vacheron Constantin presents Patrimony Collection Excellence Platine.
The Patrimony Collection Excellence Platine by Vacheron Constantin is of platinum case and their common denominators are a platinum dial with a sand-blasted finish, with white gold hands, hour-markers and a “pearl” minute track, a dark blue alligator leather strap hand-stitched with silk tread and platinum thread, as well as a polished half Maltese cross-shape platinum buckle. |
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Messika Paris introduces the Ritzy collection.
Valérie Messika presents a tie necklace set with 89 emerald-cut diamonds – the perfect metaphor for the Vendôme Column. |
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Celebrity News
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Natasha Poly shines in Chopard to the Leonardo di Caprio Foundation Gala Dinner.
The Russian model Natasha Poly attends the Leonardo di Caprio Foundation Gala Dinner in St Tropez wearing jewelry by Chopard. |
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