Burberry burns luxury goods worth millions; Dubai Duty Free sales up by 10% in first half of 2018; Chinese tourist in-favour of UAE

   
 
 

Market News

 

Burberry burns luxury goods worth millions

According to the recent article published by BBC, Luxury British fashion house Burberry, destroyed unsold clothes, accessories and perfume worth £28.6m last year to protect its brand. Fashion firms including Burberry destroy unwanted items to prevent them being stolen or sold cheaply.
"Burberry has careful processes in place to minimise the amount of excess stock we produce. On the occasions when disposal of products is necessary, we do so in a responsible manner and we continue to seek ways to reduce and revalue our waste," a spokesperson for the company said.

The FTSE 100 Company said last year was unusual as it had to destroy a large amount of perfume after signing a new deal with US firm Coty. As Coty would be making new stock, Burberry had to dispose of £10m worth of old products - largely perfume.

In Burberry's most recent financial year to 31 March, the company reported a 5% rise in profit to £413m, with sales little changed at £2.7bn.
 

Dubai Duty Free sales up by 10% in first half of 2018

Dubai Duty Free has posted a 10 per cent increase in sales for the first half of 2018 over the same period last year, the airport retailer said on Thursday, adding it is on course to hit Dh7.4 billion ($2 billion) in revenues by the end of the year. 

Beverages, perfumes and tobacco maintained their positions as the retailer’s top three sellers. Meanwhile, sales across all concourses have registered significant increases with overall sales in Concourse C in Terminal 3 up 60 per cent over last year, mainly as a result of new retail areas that opened in recent months. In addition, Concourse A sales are up by 16 per cent, Terminal 2 Departure sales are up by 14 per cent, Concourse D sales are up by 8 per cent, and Concourse B is up by 6 per cent. According to Dubai Duty Free, the ongoing major refurbishment of Concourse C, which features the newly opened watches and electronics shops, will be completed by year end and will cover a total of 4,700 square metres.
 

Chinese tourist in-favour of UAE

The number of Dubai’s overnight visitors from China has grown more than a hundred per cent since 2014, it was announced ahead of Chinese President Xi Jinping’s arrival in the UAE. The Chinese president will arrive in the UAE for a three-day state visit. The visit is projected to boost long-term political and economic ties between the two countries. 

Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) on Wednesday revealed that the number of overnight Chinese visitors has increased by 119 per cent since 2014 and the department recorded a year-on-year increase of 41.4 per cent from 2016 to 2017. The first five months of 2018 closed with a record 400,547 visitors. Officials predict this growth to continue throughout the year.
 
 

Company News

 

Chaumet opens an exclusive pop-up store at The Dubai Mall

Chaumet officially launches a pop-up store at The Dubai Mall, making a statement with an innovative concept during the French Jeweller’s flagship renovation period. The Maison’s jewellery and watches collections from Liens, Jardins and Joséphine will be available at the pop-up from July until September 2018. 
 

Bremont opens a third boutique in London at Canary Wharf

Bremont Watch Company opens the doors of its third UK boutique in London’s Canary Wharf where it joins a host of brands in the heart of the financial capital of the city. The launch of the new London boutique in Cabot Place follows on from the success of Bremont’s award-winning Mayfair flagship store which opened its doors in 2012.
 

TAG Heuer Formula 1 Max Verstappen Special Edition in November

The 2018 season started well for Max Verstappen, the young driver from the Formula 1 Aston Martin Red Bull Racing Formula 1 team, for which TAG Heuer is the Official Timekeeper. With four podium finishes under his belt, including a stunning victory in the Austrian Grand Prix, the Dutchman arrived today in La Chaux-de-Fonds to complete the special edition created specially in his honour. The TAG Heuer Formula 1 Max Verstappen Special Edition, limited to 1300 pieces, will be available in boutiques from November
 
 

Product Launch

 

Moritz Grossmann congratulates France with a World Cup football watch

Moritz Grossmann is celebrating Les Bleus with the special-edition ATUM Pure Weltmeisteredition 2018. A sporty steel case paired with an individually designed World Cup dial. The Calibre 201.1 boasts an eye-catching football-shaped filigree dial insert. The final score „4:2“with the year 2018 will be emblazoned on the watch face and the fingers and straps will be in France’s national colours. 
 

Jaeger-LeCoultre to present new models from the Joaillerie 101

Jaeger-LeCoultre is set to present its two new models from the Joaillerie 101 collection in pink gold on the occasion of the Venice International Film Festival. The name Joaillerie 101 is particularly evocative for women. Ancestral expertise lies hidden under the diamonds of these two original models, holding the secrets of the infinitely small. Available today in pink gold, Joaillerie 101 Reine and Joaillerie 101 Feuille offer women of the world a starring role: heroines by day and by night.
 

Bell & Ross launches 2018 Diver Collection & BR S Diamond Eagle

The BR S Diamond Eagle watch features four colors: blue, white, grey and pink, colors that evoke the heavens. The “diamond” variant, a more precious version featuring a bezel set with 66 diamonds that makes it a piece of jewelry in watch form. The dial is set with seven diamonds, positioned as in the Aquila constellation. The white version has a gloss dial. There are two types of bracelets to match the dial color. The strap on the blue and pink versions is in alligator, while that of the grey and white variants is in satin-finished calfskin. The white version can be fitted with a bracelet made from ceramic mesh on rubber. 
 

Chronoswiss unveils the new Flying Regulator Open gear

Chronoswiss introduces the Flying Regulator Open Gear, providing unexpected insights and undoubtedly causing quite a stir. Its  dial  is simultaneously  its  module  board,  onto  which  the  train  wheel  bridges  of  the skeletonized gears are mounted. These move on four ruby bearings.  Six visually appealing blued  screws  keep  them  reliably  in  their  intended  place  on  the  dial. The timepiece  comes  in  four different variants – choose from purist stainless steel with dials in galvanic blue, black or  silver,  or  timeless  elegance  in  a  red  gold  case  with  galvanic  silver  dial.  
 

The new Rado HyperChrome Chronograph in bronze and high-tech ceramic

The Rado HyperChrome Chronograph Automatic is now available in a beautifully contrasting bronze and high-tech ceramic construction. In this new model, the 45 mm automatic chronograph retains its scratch resistant high-tech ceramic case – here in matt midnight black – but swaps out the ceramic bracelet for a supple brown vintage look leather strap. Rose gold coloured hands and indexes echo the subtle metallic sheen of the bronze. 
 

CERTINA presents DS Podium Chronograph

The new edition of the popular DS Podium Chronograph features a Precidrive™ quartz movement, tenths of a second in real time, and an impressive 41 mm case for even greater precision and sporting elegance. The DS Podium Chronograph is assembled using the renowned Double Security Concept, as evidenced by the presence of the initials “DS” on the tip of the protected crown, and the timepiece sports a beautiful, embossed CERTINA turtle emblem on its case back.
 

duManege launches six new Adventure watches

A true collection of tool watches equipped with sports rubber or technical textile fibrous straps, this new duManège time measuring instruments are powered by a self-winding ETA 2824-2 mechanical calibre and are water-resistant to 300 metres with their 42 mm diameter high-tech carbon case. 
 

Summer Love by Mouawad

Mouawad’s glamourous yellow diamond engagement collection captures the modern trend, sparkling with warmth, shimmer and elegance. Exceptionally beautiful and graceful, the range of earrings, rings and pendants put the unique yellow diamond at the center of an artistically wrought 18k white and yellow gold setting. The results are irresistibly romantic, luxurious and a la mode. There’s no better way to celebrate summer love.  
 
 
 
 

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