Market News

Swiss watch market is growing at a slower pace than expected

Swiss watchmakers adjust to the times of slowing growth than expected leading to reduced production and job cuts at the TAG Heuer brand, according to the head of LVMH Moet Hennessy Louis Vuitton’s timepiece unit. The industry grew by 2.7 percent through August. LVMH’s TAG Heuer unit will cut 46 jobs in management and production and has put 49 employees on partial unemployment, Biver said in an e-mail. Cartier, a brand owned by Financiere Richemont, said last week it is introducing a shortened work week for 230 employees at a Swiss factory.

Tiffany’s gets first female design chief

The appointment of Francesca Amfitheatrof as Tiffany’s first female design director last year filled a five-year void at the creative helm of the world’s second-largest jeweller by sales. In the past two decades, the Central Saint Martins College trained jeweller and silversmith has created critically acclaimed collections for luxury brands including Chanel, Fendi, Marni and Wedgwood, as well as her own eponymous jewellery line. Of her move to lead a team of 21 among a global staff of 10,000 in what she calls “her ultimate dream role”.

Qatar’s GDP to grow 7.8 percent by 2016

Driven by large investments in construction, services and transport sectors, Qatar’s overall GDP is projected to grow in the range of 6.8 percent to 7.8 percent during 2014-16 and the non-hydrocarbon share to GDP is set to hit 57.2 percent by 2016, QNBGroup’s Qatar Economic Updated. The country’s current account surplus is projected to narrow over the medium-term on lower oil prices; with the fixed exchange rate to the US dollar. Qatar’s international reserves are projected to remain adequate and most of the oil and gas exports are destined to Asia. Qatar’s fiscal policy aims to maintain budget surplus, while undertaking large infrastructure investments.

Abu Dhabi hotel occupancy up to 71.3% in August

The Abu Dhabi hotel market continued to witness high performance as occupancy levels rose by 7.5 percentage points to 71.3 per cent, according to the latest HotStats survey of full service four and five star hotels TRI Hospitality Consulting. The growing performance drove Revenue per Available Room (RevPAR) growth by 11.7 per cent to $81.74. Average room rates in the emirate remained stable in August 2014 compared to the same period last year. The decline in a number of operating expenses enabled hotels to record a strong rise in profitability as gross operating profit PAR more than doubled to $24.05, and marked a return to positive levels following the previous month.

Company News

Face of Jaeger-LeCoultre, Diane Kruger, receives honors

Diane Kruger, the face of Jaeger-LeCoultre ladies’ collections, attended the reopening of the Berlin Walk of Fame to receive her own star. The actress sparkled wearing her personalized Jaeger-LeCoultre Grande Reverso Lady Ultra Thin to unveil her shining Star. On September 22nd Diane received the insignia of Chevalier of the National Order of Arts and Letters at Ministere of Culture in Paris. She was decorated by the French Minister of Culture and Communication Fleur Pellerin.

Audemars Piguet cheers for 7 of its golf Ambassadors competing in Scotland

Audemars Piguet as 6 brand ambassadors were teeing off in Scotland. Keegan Bradley is the sole Audemars Piguet representative in the American team opposite Graeme McDowell, Henrik Stenson, Ian Poulter, Lee Westwood and Victor Dubuisson playing for Europe, under the vice-captaincy of seventh brand ambassador Miguel Angel Jiménez. This game is a great occasion for each player to concentrate and direct all his efforts and skills towards one common goal, his team. An experience that they will live again, this time all united, on November 24th and right after their last tournament of the season at the brand’s private Invitational event at the ELS Golf Club in Dubai.

Balmain launches the Balmain Event with Balmain Brand Ambassador

Balmain and Behbehani Group announced their new event welcoming the Balmain brand ambassador and also Miss Switzerland, Dominique Rinderknecht, on September 21st, 2014 at the TIKTOK showroom, the Avenues Mall. Tik Tok is the newest addition to Behbehani Group. Since 2005, Balmain Watches has enhanced this corporate tradition with its sponsorship of the Miss Switzerland contest. Dominique Rinderknecht Miss Switzerland 2013 is striking a Balmain wristwatch called Beleganza Chrono Lady.

Chopard as the “Official timing partner” of Porsche Motorsport

The FIA World Endurance Championship (WEC) series heated up again after a long summer break at the Circuit of the Americas (COTA). Chopard as the Official Timing Partner of Porsche Motorsport supports the Porsche teams in the Austin, TX FIA WEC as the Porsche 911 RSR teams came in second and fourth position and the Porsche 919 Hybrid cars ended at the fourth and fifth place.

A.Lange & Söhne celebrates LANGE 1 20th birthday

Since it premiered on 24 October 1994, the LANGE 1 has epitomised the core and the identity of the reborn A. Lange & Söhne brand. With its unique combination of classic style elements and technical innovations, it stands for the determination of the Saxon manufactory to craft the world’s finest watches. Even in its twentieth year, the famous LANGE 1 watch family remains an unconditional success and become the cornerstone of a watch family composed of 15 models. With its asymmetric dial, the three-day movement and the first outsize date in a regularly produced wristwatch.

Officine Panerai announces its participation at Beirut Art week 2014

Officine Panerai proclaims its strategic partnership with the second edition of Beirut Art Week which was scheduled, from the 17th to the 24th of September 2014 at Solidere Dowtown Beirut. The contemporary art masterpieces designed by Nayla Romanos Ilya, a well renowned and distinctive leading artist, was exhibited at the Panerai Boutique in Beirut Souks. Beirut Art Week brought together art galleries and attracts international visitors, offering more than thirty partners the chance to showcase their latest art in proposed spaces that will be selected by the artistic committee of Beirut Art Fair in partnership with the stores and Solidere.

SAVELLI shines at the amFAR charity gala

SAVELLI attends the amfAR charity gala and auctioned off a unique bespoke edition “Savelli Diamond Rain with pink gold, diamonds and green python”, which was specially created for this special occasion. The entire proceeds of the auction will go entirely to the amfAR Foundation, in support of its fight against AIDS.  Model Anastassia Khozissova enjoyed the night with Savelli handsets and World-famous Swiss blogger, Kristina Bazan who has been awarded as the “Best Blogger of the Year” at the Bloglovin’ Awards 2014 where Savelli smartphones are distributed - were also guests of honor at the Savelli’s table.

Product Launch

RJ-Romain Jerome reveals the Space Invaders®40

RJ-Romain Jerome introduces the icon of its Game-DNA collection in a case: the Space Invaders®40. Available in a black PVD-coated steel case, the dial is fitted with a complex three layered base. The first two layers are beadblasted following a "straight graining" process that gives the third layer a detail-oriented pixel finish, lacquered by hand in either white or coloured cold enamel. Four functional ball-and-socket joints have been placed on the corners of the case, resembling the legs of NASA’s Lunar Excursion Model (LEM), appears on the stellar-patterned back of the watch’s rubber strap, replicating the surface of the Moon.

Officine Panerai presents the new Table Clock

Officine Panerai’s new Table Clock is transparent mineral glass sphere and presents two fascinating views of the timepiece: one from the front and the other from the back. The two faces express the two authentic identities of Officine Panerai. The dials of Panerai watches have been made of two superimposed plates enclosing luminous material, the luminescence of which shines through openings in the upper plate corresponding to the hour markers. The large winding crown is enclosed by a stirrup of polished steel.

Exhibitions & Events

Breguet at the Fine Arts Museums of San Francisco

Breguet, celebrated the San Francisco Fine Arts Museums’ and announced of the curation of “Breguet: Art & Innovation in Watchmaking” to launch in September 2015 at the Legion of Honor. This historic exhibition marks the largest collection of Breguet antique timepieces ever to be shown in the Americas. The festivities continued from the boutique in Union Square, San Francisco, to the Legion of Honor, where guests arrived to a sunset view of the Golden Gate Bridge to enjoy a private dinner at the museum—the location of the future exhibition.

Celebrity News

Cindy Crawford Wears Harry Winston Diamonds in Venice, Italy

Cindy Crawford wore Harry Winston Diamonds to George Clooney and Amal Alamuddin's wedding in Venice, Italy.

George Clooney wears OMEGA for his special occasion

At a star-studded ceremony in Venice, Italy this weekend, brand ambassador George Clooney married lawyer and up-and-coming fashion icon Amal Alamuddin in style. The award-winning actor and director donned a striking 18K white gold OMEGA De Ville Trésor on the big day – a choice that perfectly complemented his classic black tuxedo.

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