Market News

Tiffany posts sales up 8 percent in Q1

Tiffany & Co. reported that its worldwide net sales rose 8 percent, year on year to $819.2 million for the period that ended on April 30. Worldwide sale rose 4 percent, while profit was flat at $81.5 million. Sales only improved 3 percent in the Americas at $386 million, but jumped 16 percent at a constant exchange rate in the Asia-Pacific region at $195 million and 13 percent in Japan at $142 million. Sales across Europe rose 7 percent as measured by local currency to $88 million. In another development, Tiffany is in the process of negotiating future property rights with designer Elsa Peretti, who owns here intellectual property on jewelry that the company defined as a significant amount of revenue. The two parties are in the process of negotiating those rights, but if an agreement is not reached, Peretti might terminate the licensing agreement, ending a 38 year relationship with the jeweler.

Dubai International Jewellery week signs partnership agreement with Fiera di Vicenza

On 21 May 2012, Dubai International Jewellery Week exhibition has signed a memorandum of understanding with Italy’s leading jewellery organizer Fiera di Vicenza S.p.A Dubai to mutually benefit from both locations’ lucrative jewellery and luxury goods markets. Dubai International Jewellery Week organizers are in Vicenza, Italy to participate in the World Jewellery Forum 2012 organized by Fiera di Vicenza and VICENZAORO 2012 Spring edition, which was held from May 19 to 23. The partnership marks the confluence of vision, aspiration and goodwill of both Dubai World Trade Centre and Fiera di Vicenza, one of world's largest and most influential jewellery event brands, in ratcheting up the positive experience of their clientele in Dubai International Jewellery Week and VICENZAORO respectively.

UAE Gold and Jewellery exports has reached $117 billion

UAE exports of gold and jewellery represents 33 percent of the total UAE exports or the equivalent of AED 400 billion ($117 billion) according to a recent statement by UAE Ministry of Foreign Trade.

Dubai International Airport to overtake Heathrow in 2020

UAE’s Dubai International airport is expected to overtake London Heathrow International Airport as the world’s third busiest international airport by 2020. At the moment, London's Heathrow is ranked third busiest international airport and Dubai is seen to overtake it within a decade. Both airports have allocated billions of dollars for expansion. Heathrow expects a 90 million passenger capacity by 2020, while Dubai International is working to achieve 98 million passengers by 2020. There are 90 airlines operating out of Heathrow and serving total of 180 destinations. On the other hand, Dubai has more than 150 airlines and serves over 200 destinations. In terms of aircraft movements, Heathrow claimed 480,000 a year while Dubai reported 326,317 in 2011. Dubai expects 560,000 movements by 2020.

Company News

OMEGA pursues its strong presence in global retail particularly in the Middle East

Since its founding in 1848, OMEGA has continually made significant contribution to the art of watchmaking. The brand is also a world leader in sports timekeeping and has been responsible for the timekeeping of the world’s most prestigious sporting events, including the Olympic Games. It also focuses on the development of the equipment which has ensured that the technology has kept pace with ever-better performances. Presently the brand has about 80 points of sale overall in the GCC and 15 OMEGA boutiques. There are also 6 boutiques in the UAE displaying a strong retail presence in this part of the world. The brand is enthusiastic to continue the development of its distribution network in the Middle East, of which the UAE is a key market according to Mr. Stephen Urquhart, OMEGA President during its recent interview in Gulf News.

Audemars Piguet appoints new interim General Manager to replace Philippe Merk

In a recent move, Audemars Piguet has appointed Francois-Henry Bennahmias to the interim position of general manager to replace Philippe Merk, who has abruptly vacated his position as chief executive.  This is in line with a recent board statement, Bennahmias, 48, began his career at Audemars Piguet in 1996. Since 1997 he was promoted to assistant marketing and sales manager for Asia-Pacific and Europe. In 1999 he was promoted to president and chief executive of Audemars Piguet North America Inc. based in New York.

Record price for unique A. Lange & Sohne piece

At the price of EUR 330.000 a Lange TOUR­BILLON “Pour le Merite” has found a new owner at the 85th watch auction of the renowned auction house Dr. Crott on 12^th May 2012 in Frankfurt. With this high amount the unique piece was far beyond the value that experts of the renowned auction house Dr. Crott had expected. Indeed, the exceptional master­piece of A. Lange & Sohne fetched nearly the fivefold of the original retail price from 1996. It is number 45 out of a total of 50 pieces in platinum, a unique piece within this limited edition. The TOURBILLON “Pour le Merite” with the move­ment number 353 is a custom-made product with a case diameter reduced from 38,5 to 36 milli­metres and a black dial with applied bevelled lozenge indexes instead of the usual silvered face of the standard platinum model.

Chopard & The Weinstein Company celebrates Lawless at the Baoli Beach

On 19^th May 2012, Chopard celebrated its latest collaboration with the world of cinema throwing a party at the Baoli Beach in Cannes, France to celebrate The Weinstein Company’s new movie Lawless. Jessica Chastain, part of the cast of the movie and Caroline Scheufele, Co-President of Chopard, attended the event in Chopard Jewellery.

Girard-Perregaux Honors Nobel Peace Laureate Archbishop Desmond Tutu

On 17 May 2012, Girard-Perregaux was proud to partner with Nobel Peace Laureate Archbishop Desmond Tutu for a conversation with author Robert V. Taylor. HOW TO BE HAPPY, CHANGE THE WORLD AND EMBRACE A NEW WAY TO BE HUMAN was held in LACMA’s Bing Auditorium in Los Angeles with hosts Elizabeth Wiatt, Maggie and Trevor Neilson, and Global Philanthropy Group. Over 500 guests attended the conversation; a private reception was held immediately following. For this special event, Girard-Perregaux presented Archbishop Tutu with an engraved 1966 collection watch in honor of his philanthropic accomplishments around the world. The Girard-Perregaux 1966 is a model of timeless design. It features a 38 mm rose gold case and black alligator strap and houses a Manufacture automatic movement.

Richard Mille ‘The Lady’ Charity Movie Premiere

Richard Mille supported Michelle Yeoh, partner of the brand, once again in the premiere of her new movie, ‘The Lady’ in her motherland, Malaysia. To make this movie premiere even more special, Michelle chose to support a local charity, Voice of the Children, with all tickets sales proceeds from the evening going towards the adopted charity. The guest of honor that evening was Dato Sri Mohd Najib Tun Abdul Razak, Prime Minister of Malaysia, and the evening’s 500 odd guests included prominent society figures such as Marina Mahathir, familiar faces from the entertainment scene, like celebrity host, Marion Caunter, Richard Mille VIP clients and Malaysia’s top media. After addressing the guests on stage, Michelle, along with Dave Tan, C.E.O of Richard Mille Asia presented a mock cheque of 100,000 Malaysian Ringgit from the night’s ticket sales proceeds to Voice of the Children, a charity that is very dear to Michelle’s heart.

Faberge celebrates the opening of its New York Flagship

On 23^rd of May, Faberge celebrated the opening of its first US boutique located at 694 Madison Avenue in New York. To mark the occasion, Faberge hosted an exclusive celebratory event in partnership with the New York Botanical Garden. Confirmed notable attendees included: Faberge Creative & Managing Director Katharina Flohr, Olivia Palermo, DJ Alexandra Richards, New York Botanical Garden Committee members Nathalie Kaplan, Cristina Cuomo, Dalia Oberlander, Gillian Hearst Simonds, Whitney Fairchild, Jennifer Creel, Natalie Leeds Leventhal, Kimberly Guilfoyle, Christian Leone, Ashley Platt amongst others. Guests were treated to Russian inspired cocktails and hors d’oeuvres at 620 Loft & Garden atop Rockefeller Center with breath-taking views of the New York skyline and a showcase of Faberge’s one-of-a-kind jewellery creations.

Chiron Distribution to present Chronoswiss, CX Swiss Military Watch™ and Charmex of Switzerland™ at JCK Las Vegas

For the first time, Chiron Distribution, a Canadian company based in Montreal will be presenting Chronoswiss, CX Swiss Military Watch™ and Charmex of Switzerland™ at JCK Las Vegas from 31^st May to 4^th June.

Product Launch

Mouawad launches the Classic Pearl Collection

Mouawad has announced the introduction of their new Classic Pearl collection in its boutiques across the Gulf.  The Classic Pearl is the newest addition to the Mouawad boutique collections, designed for lovers of fine pearl and diamond jewellery. The collection comes in a variety of colors and arrangements that include combinations of South Sea golden, light yellow and white pearls, Tahitian black pearls, and white and black diamonds, all hand-crafted in 18K white gold. Every piece in the new Classic Pearl collection is ideal for elegant women wanting to compliment their contemporary lifestyle with classic pearl and diamond jewelry. Mouawad’s Classic Pearl collection includes rings, earrings and necklaces all featuring South Sea or Tahitian pearls and diamonds in uniquely appealing settings, such as diamond-encrusted collets and swirled diamond mounts.

Tiffany & Co. introduces a new jewelry collection

Tiffany & Co. has introduced its new jewelry collection - Tiffany Enchant. The collection highlights the company’s reputation as the world’s diamond authority and reflects a long tradition of nature-inspired jewels that has evolved over Tiffany’s 175-year history. A scroll pendant, earrings and bangle trace the opulence of formal gardens with exquisite white diamonds, hand cut and set in platinum and 18 karat rose gold. A key pendant accented with a butterfly of vibrant pink diamonds unlocks the poetic spirit that flourishes in the garden. And custom ring settings of white diamonds surround Tiffany Yellow Diamonds that sparkle like sunlight. These rare colored diamonds delight the eye with their spectacular hue and intensity. As symbols of Tiffany’s heritage, these sought-after stones have glittered through every fashion era, and are today’s greatest expression of glamour and luxury.

Rivoli Group introduces Nautica range of watches in UAE

Rivoli Group has added another feather in their cap by launching the well known Nautica range of watches here. Introduced first in 1994, Nautica Watches for men and women combine distinctive styling, bold colors and unique design. Inspired by sailing, Nautica functionality reflects an energetic lifestyle that appeals to consumers around the globe. Nautica Watches fuse the best of classic American style with the latest in technical innovation. The entire range of Nautica watches, including the recently launched BFD100 collection, is available in Hour Choice stores across UAE.

Celebrating Father’s Day with Baume & Mercier

As renowned memory keeper and valued companion for major precious moments in life, Baume Mercier has presented the Capeland collection in celebration of Father’s Day. Inspired by a 1948 single push-piece chronograph, the round case, shaped like a sea-weathered stone with a domed sapphire crystal, combines flawless classicism and casual elegance, generating an irresistible siren song to explore new horizons. The collection’s sophistication is magnified here by luxurious, unostentatious finishing touches: two-tone white and silver-colored snailed finish, Arabic numerals, case back revealing the Valjoux 7753 automatic movement and the brand’s Phi symbol adorning the oscillating weight. Of proud lineage and slightly oversized at 42 mm, this chronograph also has a tachymeter, a telemeter, and date display aperture at four thirty.

Brasilia Mini Steel & Gold 2012 by EBEL

Like a gentle wave against a shore, the alternating gold and steel links create visual undulations that bring the bracelet to life. The newest design is both delicate and seductive, signifying the utmost in femininity. Representing pure elegance through the gleaming stainless steel with golden touches that shimmer from the bracelet, Brasilia Mini Steel & Gold features a dial enlivened by a central guilloche motif, blue hands, and elegant Roman numerals that leave space for the intertwined double “E” for EBEL at 3 o’clock. The latest Brasilia Mini’s alternating steel and gold links on the bracelet are touches of the signature wave of EBEL. They are intended for women who are searching for a different yet exquisite look, thanks to the two-toned touch of the bracelet.

Jaeger-LeCoultre unveils the Grande Reverso Lady Ultra Thin

To mark the 80^th anniversary of the Reverso, Jaeger-LeCoultre celebrated femininity by unveiling a new interpretation of its iconic watch: the Grande Reverso Lady Ultra Thin. This year, Jaeger-LeCoultre offers the ladies’ Reverso in a two-tone version combining pink gold and steel. All the aesthetic codes of the Reverso watch are sublimated in this ultra-thin and exquisitely feminine two-tone interpretation. To ensure optimal comfort, the designers of this Reverso have made it ultra-thin (at just 7.17 mm thick), light and curved, ensuring an ideal fit on women’s wrists. The proportions of the case, the gadroons, the chapter ring, the hands and the numerals all remain loyal to the Reverso spirit in this model that resolutely proclaims its feminine nature through a curved carrier and a magnificent guilloche dial.

Montegrappa NeroUno Chronograph

Montegrappa has announced the arrival of the first chronograph in the NeroUno range of wristwatches. It follows the aesthetic principles that have established NeroUno watches as elegant and sophisticated additions to this comprehensive range of men’s accessories, including pens, cufflinks and leather goods. Powered by the Swiss-made Ronda 5030.D quartz movement, the NeroUno chronograph consists of a 44mm diameter case fashioned from stainless steel, completed by a sapphire crystal with anti-glare coating. The NeroUno Chronograph is offered with its case presented in a natural, classic stainless steel form, or with 5N rose gold PVD or light grey PVD finishes. Completing the design is a choice of leather or rubber straps, or a steel bracelet, all closed with a deployant clasp. Enhancing the look is a choice of dial colors, all providing perfect legibility for the three chronograph subdials and chosen to complement the case color. They include black, grey, brown or silver dials with silver, rose or black accents.

Revolution Collection by David Yurman

David Yurman has recently launched the Revolution Collection, a new line of men’s timepieces that feature Swiss automatic movements. Offering some pieces as chronographs, the Revolution watches are available in round stainless steel or 18-karat rose gold cases with a rubber side insets and crown protectors. Multi-layer galvanic dials feature hand-applied Arabic numerals, and indexes and hands are treated with Super-LumiNova, which illuminate markings on dials.

YA GHALI by Bil Arabi collection exclusively at Harvey Nichols - Dubai

The new YA GHALI collection showcases luxury pieces made from white gold and gems, layered with yellow gold additions and semi-precious stones that are the hallmarks of designer Nadine Kanso’s Bil Arabi line. In this exclusive, limited edition collection for Dubai’s premier department store Harvey Nichols, Kanso has taken the classical and melded it with her unique creative insight to craft something that is at once timeless yet typically playful of her style. The YA GHALI collection features rings, necklaces, earrings and bracelets that reference the themes Bil Arabi is recognized for – love, nature, butterflies and of course, the Arab identity. The Arabic calligraphy that represents the foundation of the Bil Arabi line, using both individual letters and words, connects with the classical pieces in a way that appears incongruous and yet produces something meaningful. 

Celebrity News

Emmanuelle Devos wears CHANEL jewels at "Carnaval in Cannes"

On 18th May, Jury member Emmanuelle Devos attended the "Carnaval in Cannes", a fundraising gala for Haiti wearing "Cascade de Diamants" earrings in 18-karat white gold and black and white diamonds, and a "Plume" watch in 18-karat white gold and diamonds by CHANEL Fine Jewelry.

Eva Longoria dazzles wearing Belle Epoque earrings by Damiani

Eva Longoria wore Damiani's gold and diamond Belle Epoque earrings at the premier of the film "De Rouille et d'Os" during 2012 Cannes Festival.

Najwa wows on the Cannes Red Carpert in pearls and diamonds by Mouawad

Lebanese singer Najwa Karam oozed red carpet glamour at the Cannes Film Festival as she sparkled in jewels by Mouawad. The multi-platinum selling singer sported a delectable pair of pearl and diamonds drop earrings and a simply stunning matching pearl and diamond ring from the Mouawad’s Pearl Jewellery to complement her gown.

Asia Argento wears Pasquale Bruni at Cannes 2012

During Cannes Film festival 2012, Asia Argento showed up to the premiere of her father Dario Argento’s “Dracula 3D” wearing Pasquale Bruni jewels. In particular, the Italian actress chose to wear the Mandala line on the red carpet.

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