Swiss watch exports fell by 3.6% during January-April 2017; Tiffany’s sales miss estimates; shares fall

Market News

Swiss watch exports fell by 3.6% during January-April 2017

Despite three fewer working days, April saw watch industry exports reach a figure of 1.5 billion francs. At -5.7%, the contraction was less severe than expected. The trend therefore remains close to the figure posted at the end of March. For the first four months of the year, the variation is -3.6%. Watches priced at less than 200 francs (export price) reported a heavy fall. Their value contracted by 21.8% against April 2016. Above 200 francs, the fall proved uniform, at -4.5% in terms of both value and volume. The main markets differed widely in the month of April. Hong Kong (-16.8%) and the United States (-19.0%) reported a steep fall, while China (+38.9%) and the United Kingdom (+30.0%) grew even faster than before. Japan (-7.3%) remained in negative territory, as did Italy (-13.4%) and Germany (-5.3%). In the Gulf region, the UAE market reported -19.6%, KSA -8.3%, Qatar -50% and Kuwait -1.6%.

Tiffany’s sales miss estimates; shares fall

Tiffany & Co. reported lower –than-expected quarterly sales and a surprise drop in comparable sales due to lower spending by tourists and domestic customers in the Americas, its largest market. The company’s shares fell 5.6 per cent to $87.95 (Dh322.77) before the bell. Tiffany, whose one-of-a-kind pieces are a regular feature on Hollywood red carpets, has been struggling to attract young shoppers, particularly in the Americas, as consumers shift to cheaper, chic brands such as Pandora and Alex and Ani.

Company News

Audemars Piguet opens its first boutique in Jordan

Audemars Piguet has officially inaugurated its first boutique in Amman, Jordan during a private event on 17th May 2017. Located in Luxury Vista, Aritiria Street, the space reflects the brand’s global retail concept, with an elegant design that captures the 142-year old Manufacture’s core values: origins, artistry and extraordinary relationships. On the occasion of the opening, Audemars Piguet launched its 2017 Royal Oak Chronograph collection in the Middle East. All seven models within this year’s new range of Chronographs feature a fresh, two-tone dial design with several new yet subtle details: chronograph counters of increased size that expand at 9 o’clock and 3 o’clock, shorter but wider hour markers, additional luminescent coating for better readability of the hour and new typeset and transfers. The date window has also been re-located between the 4 and 5 o’clock positions.

Queen Rania shines in Ralph Masri at Jordan Independence Day Ceremony

On the occasion of the 71st anniversary of Jordan’s Independence Day on 25 May 2017, Her Majesty Queen Rania made a statement in Ralph Masri jewels, complementing a white cape dress with his pieces to stunning dramatic effect. Her Majesty opted for Masri’s oversized rose gold pavé Arabesque Deco hoops, along with a matching white diamond ring from the same collection, which was inspired by Middle Eastern architectural motifs. Queen Rania, known for championing young emerging Arab talent, wore the stunning ensemble at the Raghadan palace in Amman where various festivities took place.

TAG Heuer celebrates the 75th edition of the most prestigious Grand Prix

The world's most glamorous motor race celebrates its 75th edition. TAG Heuer, for which motor racing and, in particular, its partnership with the Automobile Club de Monaco, are part of its very make-up, was once again in attendance to pay tribute to this famous date in Grand Prix history. On the eve of the much-anticipated start, Jean-Claude Biver, CEO of TAG Heuer and President of the LVMH Group Watch Division, welcomed guests for an exclusive evening of glamour and style aboard the SeaDream yacht, decked out in the brand's colours and moored in Monaco's port. Among the guests was Australian actor and TAG Heuer ambassador Chris Hemsworth, accompanied by his wife, Elsa Pataky. Also present at the event was the blogger Chiara Ferragni, who turned 30th years old at the beginning of the month, the occasion for Jean-Claude Biver to celebrate her birthday. Last but not least, driver Daniel Ricciardo from Red Bull Racing, with which TAG Heuer renewed its partnership contract for two more seasons in November, and renowned French chef and friend of the brand, Philippe Etchebest, who presided over a culinary challenge organised between the two Australians, Chris Hemsworth and Daniel Ricciardo.

dunhill London announces new Creative Director

dunhill London announces Mark Weston as Creative Director. The new vision for dunhill will be presented at London Fashion Week: Men’s in June, showcasing a curated selection of pieces from Autumn Winter 2017 alongside the Spring Summer 2018 collection.

Chris Lee in a new Gucci timepieces and Jewelry campaign

Gucci is pleased to announce that the brand ambassador, renowned Chinese singer and actress Chris Lee, stars once again in the House’s new timepieces and jewelry advertising campaign. Set in an ornate room, this new campaign was shot by photographer Colin Dodgson in Milan. Chris, with her unique and distinctive style, embodying Gucci’s new aesthetics, showcases the new creations from the House’s timepieces and jewelry collections. For timepieces, Chris presents a G-Timeless with stainless steel case, cherry red mother of pearl dial and cherry red lizard strap, and in another image, she wears a G-Timeless with polished yellow gold PVD case, mystic white Gucci Signature leather dial and mystic white Gucci Signature calf leather strap. As for jewelry, she exhibits GG Running rings, bracelets and necklaces in yellow, pink or white gold with diamonds.

Product Launch

Chopard presents the Mille Miglia 2017 Race Edition

The Mille Miglia GTS Chrono Race Edition 2017 brings the world's most beautiful race to the wrist. Housed in a 44 mm stainless steel case, its self-winding chronograph movement is chronometer-certified by the COSC and displays the hours, minutes and date, along with a 12-hour counter at 6 o'clock, small seconds at 9 o'clock and a 30-minute counter at 12 o'clock. With its emblematic red details and its silver dial with «bouchonné» finishing, the watch subtly evokes Mille Miglia racing cars: pushers inspired by engine pistons, anti-grip surfaces recalling a brake pedal, and a rubber strap suggesting tyre-treads.

Jaquet Droz's homage to the art of paillonné enameling

There are techniques that border on the sublime, particularly when they fully capture the sheer magic of time. Take, for example, those employed by the craftsmen of the Jaquet Droz Ateliers d’Art, masters in the art of paillonné enameling. This year, six iconic models have been decorated using this exceptional technique, bringing together historic paillons and modern creations including the bird, which was so dear to the brand's founder, Pierre Jaquet-Droz. A model particularly beloved of the artists who worked with Jaquet Droz, the Petite Heure Minute celebrates the richness of blue and red enamel in a broader range of executions measuring 35, 39 and 43 mm. The Grande Seconde is available in a version with a dial decorated with blue Grand Feu enamel, beautifully set off by the brilliance of the paillons and the 43-mm diameter gold case.

Officine Panerai introduces new additions to the Submersible range in the Middle East

Officine Panerai has introduced two new additions to the Submersible Range (PAM01305 & PAM01389). The design of both Submersibles reveals the great attention paid to perfecting every little detail, preserving intact all the characteristics which have made this model a classic of high quality sports watchmaking and showed its connection to the world of the sea. The collection brings to you a wide choice of materials – sports or precious, classic or avant-garde – and the p.9010 manufacture automatic movement, with a power reserve of three days. PAM01305 is a classic Panerai, faithful to tradition but updated with a p.9010 manufacture movement and a dial of exemplary legibility under all lighting conditions or in the depths of the sea. While PAM01389 is highly resistant to magnetic fields due to its inner case of soft iron. The thickness of the case has been reduced by over 10% compared to the previous version, a result made possible by the introduction of the new P. 9010 caliber.

Ulysse Nardin launches Executive Skeleton Tourbillon

At the heart of the refined architecture of the Executive Skeleton Tourbillon timepiece is the UN-171 manufacture movement, its complex mechanics stripped to a bare minimum – an incredible feat of technical savoir-faire. The essential beauty of the inner workings is fully revealed by its bold, aerial design. A design which takes the oversized Roman numerals, sword markers and raised rectangular bridge of the Executive collection and makes them sing with a renewed power. Nestled in the pure lines of the Executive Skeleton Tourbillon’s mechanical movement is a flying tourbillon, made in-house at the Swiss manufacture and comprising silicium parts. Widely celebrated as one of the most difficult complications to achieve in mechanical timekeeping, the beauty of this tourbillon is fully displayed through the fine tracery of its form. Yet another impressive feature of the Executive Skeleton Tourbillon is the power reserve – extended to a life-saving 7 days.

Hueb unveils its new range of designs especially for Eid

Hueb unveils its new range of designs especially for Eid known as the Eid Collection. Eid is an auspicious time, which marks festivities, family reunions and sharing of gifts with loved ones. The classic and feminine bow motif in fine jewellery is customarily seen as a symbol of love and marriage. The motif takes inspiration from the jewellery designs in the French Royal court of the 17th Century and like the 17th Century prototypes, this new collection conveys a message of gifting. Hueb has beautifully crafted a pair of earrings, a ring, a bracelet and necklace with the bow theme and has also captured the essence of the rich culture of Brazil in its Eid Collection for 2017. The exquisite designs from the Eid Collection showcase a confluence of quality and exclusiveness and stands out as the perfect Eid gift.

Celebrity News

Monica Bellucci glows in Cartier

Monica Bellucci wore Cartier on the red carpet of the 70th annual Cannes Film Festival.

Deepika Padukone sparkled in de Grisogono jewellery

The Indian actress sparkled in a pair of white gold High Jewellery earrings set with white diamonds and a white gold High Jewellery bracelet set with white diamonds and emeralds.

Barbara Meier chose Messika

German model Barbara Meier chose the iconic Silk earrings and two Toi & Moi rings from Messika High Jewelry collections as her red carpet look for 'The Meyerowitz Stories' premiere during the 70th Annual Cannes Film Festival.

Olga Kurylenke shined in Piaget High Jewellery

Olga Kurylenko, a respected actress and friend of the Maison trampled the red carpet in Piaget Jewellery wearing a stunning pair of earrings in pink gold set with diamonds and a ring in pink gold set with 1 cushion-cut diamond from the new High Jewellery Collection Sunlight Journey.

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