Market Report

Doha Jewellery & Watches Exhibition 2015 opens a stunningly beautiful theatre of spectacular pieces from across the world

Held under the patronage of His Excellency Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the Prime Minister and Minister of the Interior, the 12th edition of the Doha Jewellery & Watches Exhibition was officially opened on 23rd February 2015. The show was inaugurated by HE Sheikh Ahmed bin Jassim bin Mohamed Al Thani, the Minister of Economy and Commerce in the presence of HE Mr. Issa Bin Mohammed Al Mohannadi, the Chairman of Qatar Tourism Authority and Mr. Abdulaziz bin Nasser al-Khalifa, CEO of Qatar Development Bank (QDB). Hosted by Qatar Tourism Authority, q.media Events and Fira Barcelona at the Qatar National Convention Centre, the exhibition will be an impressive collection of jewellery and timepieces from the most famous and reputed international brands. The five day exhibition is also the event of choice for many regional and international brands to unveil their new collections in the Middle East.

Market News

Kering Tough Market for Luxury Watches, Jewelry

Kering reported that revenue increased by 4 percent year on year to $11.4 billion in 2014. Cost of sales raised 3.5 percent to $4.3 billion, so gross margin improved 4.2 percent to $7.2 billion. Conversely, "tougher market conditions" greatly impacted revenue from the timepiece and to a lesser extent, jewelry brands. The group's share of profit greatly improved to $603 million compared with $57 million in 2013. The group's luxury brands performed very well in 2014, except for Gucci, which experienced a sales declined of 1.8% year on year to $4 billion.

Abu Dhabi International Airport sees 20.7% increase in January passenger growth

Abu Dhabi International reported a 20.7 per cent increase in the number of passengers flying in January this year when compared to the same period a year ago, management Abu Dhabi Airports said in a statement. A total of 1,887,631 passengers arrived, departed and passed through the airport, which is home to Etihad Airways, in January, compared to the 1,564,266 passengers in the same month last year. Ahmad Al Haddabi, chief operations officer at Abu Dhabi Airports, said in a statement that the double-digit growth was challenging the airport’s capacity “ever day”.

Company News

Cartier International Dubai Polo Challenge 2015 event

Under the patronage and in the presence of HRH Princess Haya Bint Al Hussein, Wife of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the Cartier International Dubai Polo Challenge was held at Desert Palm Resort & Polo Club on 21st February 2015.  In a thrilling final, the Desert Palm team featuring Rashid Albwardy and Alan Meeker took the win, defeating the UAE Polo Team patroned by HH Sheikha Maitha Bint Mohammed Bin Rashid Al Maktoum. Throughout the afternoon they were welcomed at the Cartier Villa that was transformed beautifully to premiere the new Clé de Cartier watch creations. This collection was presented for the first time following its global launch at the Salon International de la Haute Horlogerie in January.

Audemars Piguet announces first artist to present the Audemars Piguet Art Commission

Robin Meier is the first artist to present the inaugural Audemars Piguet Art Commission. Meier will work with the commission’s renowned guest curator Marc-Olivier Wahler and Audemars Piguet, on the production of a major new artwork to be unveiled at Art Basel in Basel, in June 2015. Based on the theme of “synchronicity” and the spontaneous emergence of cycles in nature, Meier’s installation will meaningfully connect seemingly unrelated concepts and objects into a single beating pulse.

Richard Mille motorsport partner wears RM 011 Black Night editions

Richard Mille motorsport partner Felipe Massa wearing one of the new RM 011 Black Night editions. This watch is the latest exceptional timepiece bearing the initials F.M. and comes in a Limited Edition of just 100 pieces, available only at Richard Mille Boutiques in Europe and the Middle East. The RM 011 Black Night features a case made entirely of lightweight NTPT® Carbon with a high contrast red flange and black detailing on the skeletonised dial.  The Formula 1 season begins for Felipe in Melbourne, Australia on March 13-15th.

Product Launch

Arnold & Son presents HM Goats Special Edition

Arnold & Son Greets the Lunar New Year with an exquisitely crafted limited edition celebrating the Goat. The HM Goats Special Edition has a white mother-of-pearl dial featuring an exquisite, hand-painted miniature of a family of goats feeding on leaves. Nickel-silver movement, rhodium is treated with Haute Horlogerie finishing. Case in rose gold, Diamond set bezel and cambered sapphire case back. Strap is hand stitched brown or black alligator leather.

Eterna reveals Grace Open Art model

Grace Open Art models included the slimmest, series-produced baguette watch and the Eterna Matic Golden Heart with the world's smallest automatic movement and a solid gold rotor. But its inner qualities too are revealed by a circular aperture in the dial, which is made either of shimmering white or black mother-of-pearl. The frame for this perfect work of art takes the form of an exquisite bezel set with Top Wesselton diamonds. The case itself, in yellow or white gold, is the soul of discretion and features slender crosspieces that serve as lugs. Strap is in white or black satin.

Exhibitions & Events

Chrsitie’s Dubai to open the watch auction season 2015

Christie to celebrate 55 years of stand-alone watch sales 2015. The international department’s first sale of the year will be in Dubai, when Christie’s will offer 185 watches.  This is the largest offering of any watch sale in the Middle East and will take place on the night of 19th of March at the Jumeirah Emirates Towers Hotel. Amongst the selected lots features a Patek Philippe - ref 5104 - with an estimate of $450,000-650,000, which is the most valuable estimate ever put against a watch offered in Dubai. The sale will include watches from all major firms starting with Audemars Piguet and ending with Zodiac - a total of 48 watchmakers from around the world will be represented in this sale and the most vintage watch dates from 1947 and the most modern watch from 2013 – 66 years of watchmaking to be discovered at Christie’s. This is the first sale put together by Christie’s new regional specialist Rémy Julia, who has taken the role following the promotion of Frederic Watrelot to head of watch sales in Asia. Rémy came to Christie’s with more than 10 years of experience working with luxury brands in brand management and business development roles in the Middle East and India.

The Gem and Jewellery Export Promotion Council officially inaugurated its eight edition of Signature

The Gem and Jewellery Export Promotion Council officially inaugurated its eight edition of Signature on February 20, 2015, at the Bombay Exhibition Centre (NSE Complex) in Mumbai. The event witness more than 7,000 national and international visitors which was held from Feb 20th - Feb 23rd, 2015.  The event was inaugurated by Chief Guest, Mr. Andrey Polyakov, Vice President, Alrosa, Russia, Guest of Honours Ms. Shaina NC - Social Worker, Shri. Kirtilal Doshi, industry Stalwart along with Shri. Vipul Shah, Chairman, GJEPC, Shri. Pankaj Parekh, Vice Chairman, GJEPC, Mr. Nirav Bhansali, Convener – Exhibitions Sub Committee (National), GJEPC, other senior officials from GJEPC and eminent members of the trade.

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