Market Report

UAE retailers expect strong business during Dubai Shopping Festival 2014

Retailers expect business to pick up during the 19th edition of Dubai Shopping Festival (DSF) amid a surge in consumer confidence that has seen the sector staging a strong recovery in the last one year, from last week; retailers across the city are rolling out their promotions and discounts to attract customers looking for a bargain. This year, there are 350 participating outlets, an increase of 50 outlets compared to 2013, according to Laila Suhail, CEO of Dubai Festivals and Retail Establishment, the agency of the DTCM, which organises DSF. Retailers expect brisk business to continue even after the festival ends on February 2.

Market News

Abu Dhabi hotel occupancy exceeds 2.5m visitors

Abu Dhabi’s Occupancy in hotels and hotel apartments climbed 10 per cent to 83 per cent in November over the same period in 2012, bringing the total number of arrivals to date to over 2.5 million, Abu Dhabi Tourism and Culture Authority said in a statement last week. According to the tourism body, guest arrivals at the emirate’s 149 hotels and hotel apartments jumped 26 per cent to around 260,810 in November compared to the same period in 2012. In the first nine months of the year, meanwhile, Abu Dhabi attracted around 2,530,810 guests, up 17 per cent compared to the corresponding period last year. Hotel occupancy in Abu Dhabi is expected to be around 79 per cent by the end of the year, from 69 per cent in the earlier year. India, the UK and Germany continue to be the top overseas source markets for Abu Dhabi.

UAE’s pearl trade grows by 15%

The UAE’s pearl trade has grown at an average of 15 per cent in the last four years, but the business should receive better support from government, Mohammad Al Suwaidi, Operation Manager of RAK Pearls said. However, he said that to encourage the growth of this industry, there should be serious support from the government, and there should be a body to look after pearl industry development. In 2011, the UAE’s re- exports of pearls amounted to about Dh68.19 million and key reexport markets for pearls were Hong Kong, Switzerland and the US, according to the latest figures from the Dubai Chamber of Commerce and Industry. Dubai’s exports and re- exports of pearls increased about 15.10 per cent between 2008 and 2011. Emiratis used to spend three months diving for pearls to earn a living for the whole year.

The biggest magazine supplement enters Guinness Book of World Records on display at “Prestige Avenues” in Kuwait

Chopard’s exclusive distributor in Kuwait has unveiled the biggest magazine supplement in the world as certified by the Guinness Book of World Records. The world’s biggest magazine supplement is displayed at the “Prestige Avenues”, one of the biggest and most prestigious shopping mall in Kuwait and the Middle East region till the 7th of January 2014. This grand supplement consists of 20 pages with the following dimensions; 3.70 metres height and 2.85 metres width when closed, and 3.70 meters height by 5.70 meters width when opened. This makes it ten times the size of the original magazine supplement. Contents of the supplement shed light on Chopard’s largest boutique in the world. The boutique opened its doors at the “Prestige Avenues” complex in Kuwait last October in the presence of Caroline Scheufele, Co-President and Director of the Creative Department at Chopard, and Amer Al Ansari, Managing Partner of Trafalgar. Amer Al Ansari, Managing partner of Trafalgar, added: "The construction of Chopard’s largest boutique was a dream that became a reality due to hard work and concerted efforts of several entities. This boutique offers many luxurious and upscale products, thanks to its large size.”

Dubai Duty Free set to cross $2b sales in 2014

Dubai Duty Free has completed three-decades of retailing and its sales jumped to 1.8 billion in 2013, compared to its sales of the first full year of operations at 20 million, showing a remarkable increase of nearly nine thousand times. Established on December 20, 1983, the Dubai Duty Free (DDF) continued significant increases in its annual sales every year till now and has become one of the leading airport retailers in the world. It crossed the 100 million mark sales in 1992, touched 500 million in 2004, and crossed 1 billion in 2008. The trend shows DDF will easily cross the 2 billion sales milestones next year with the help of new space at Al Maktoum International Airport. DDF marked its 30th anniversary in style on December 20 with a new daily sales record of Dh111.88 million as the airport retailer extended up to 30 per cent discounts on a wide range of products.

Julia Roberts wears Pomellato to the Premiere Of “August: Osage County" in Los Angeles

Julia Roberts wore Pomellato Capri Ring in Rose Gold and chrysoprase to the première of “August: Osage County”

Company News

The workshop of ETA Manufacture Horlogère in Grenchen destroyed due to fire

On Sunday December 29th 2013 a fire broke out in the galvanic department of the main building of ETA Manufacture Horlogère in Grenchen. The workshop of ETA has been entirely destroyed without any casualties. The factory was close when the incident happened. The fire was under control within one hour without any damage extended to neighboring workshops.

Jaeger-LeCoultre’s connection to World Expo 2020

Jaeger-LeCoultre has a long history with World Expo dating back to the inaugural Expo in London in 1851 and as such, a deep-rooted connection to Dubai’s bid as host city. Connecting minds at the Manufacture is key; creating the future with the spirit of invention is one of Jaeger-LeCoultre’s foundations; and most importantly Jaeger-LeCoultre has a history with the World Expo of the 19th Century where Antoine LeCoultre and his descendants won three recognitions (1851, 1889 and 1900). Jaeger-LeCoultre’s connection to the bid, Ali Omar Ermes to create ‘The Expo painting’ named Tawasul Al-Himam – ‘The Continuum of Resolve’. The painting translates the spirit of Dubai Expo 2020. ‘Connecting Minds, Creating the Future’ is the title of the country’s Expo.

Roger Dubuis Celebrates 12th edition of Art Basel in Miami

Roger Dubuis CEO Jean-Marc Pontroué and Friend of the Brand Gerard Butler hosted recently guests during a fete kicking off Miami’s iconic Art Basel. In partnership with Dom Pérignon and HauteTime Magazine, Roger Dubuis welcomed guests to a private seated dinner at W Hotel, one of South Beach’s premier resorts. The fashionable invite-only fête featured an intimate crowd of A-listers including Eva Longoria, Serena Williams and Karolina Kurkova who mingled amongst the exceptional Excalibur Quatuor timepiece.

Boucheron inaugurated its new boutique at the Galleria on Al Maryah Island

Boucheron opens its new boutique at The Galleria on Al Maryah Island. Hosted by Boucheron CEO, Mr Pierre Bouissou, and Al Tayer Retail CEO, Mr Khalid Al Tayer, guests first gathered to witness the ceremonial ribbon cutting, followed by a brief tour of the store. The new boutique is the first in the Middle East designed to the new concept, closely mirroring the renovated store at 32 rue Faubourg St Honore in Paris with its white marble facade and luminous white and champagne coloured interior, presenting the timeless collections.

American Express World Luxury Expo returns to Riyadh

American Express World Luxury Expo in association with The Saudi Investment Bank is returning to the palatial Ritz-Carlton, Riyadh from 28-30 January 2014. The exhibition will showcase selected luxury brands and services, from a broad selection of luxury categories, appealing to a highly discerning and select group of VIP guests. World Luxury Expo will continue to Jeddah in March and then Bahrain, Kuwait, Abu Dhabi and Doha in 2014, creating an on-going annual signature series of events in the GCC region.

ANTOINE MARTIN SA appoints new CEO

Mr. Martin Braun is appointed has new CEO of ANTOINE MARTIN SA; as Mr. Bruno Jufer leaves the company, Mr. Bruno Jufer was appointed CEO when the company was founded in 2010 and has played a pivotal role in its initial years. During this period, the company launched its first collection at Baselworld 2011 with a Grande Complication in the form of a Perpetual Calendar. In the following years came a Tourbillon with a Perpetual Calendar and a trailblazing new development, the Slow Runner. The two latter collections were both nominated for the Grand Prix d’Horlogerie Genève. Under the new management, we can look forward to the presentation of a sensational new development from ANTOINE MARTIN at Baselworld 2014.

World-Class jewellery designers awarded at Dubai Jewellery Awards

The global jewellery designers were awarded with some of the international industry’s most prestigious titles recently at fifth Dubai Jewellery Awards; eight talented individuals were recognised and rewarded for excellence in the field of jewellery design, innovation and creativity at a glittering ceremony at Dubai’s Kempinski Hotel. The winners walked away with a trophy and prizes awarded by GIA Middle East. The National Institute of Vocational Education is displaying prototypes of the amateur winning designs, at Dubai International Jewellery Week. Emirati student Alia Mohammed bin Omair Alfalasi, collects her Emirati Jewellery Designer of the Year Award from jewellery artist and sculptor Azza Aal Qubaisi at the Kempinski Hotel.

Product Launch

Chopard’s Valentine’s Day collections

The Happy Sport Automatic watch timepiece with its blend of sophistication and elegance becomes even more seductive when it comes to celebrating love. Its delightfully feminine pink satin strap provides the perfect foil for the silver-toned guilloché dial. The most ardent Valentines may prefer the rose gold version with its case entirely set with diamonds and fitted with a matching pink alligator leather strap and “Toi et moi” rings are especially romantic interpretations of the Happy Diamonds collection poetically interpreting loving ties. The diamond set white gold or rose gold models for Valentine’s Day feature two tenderly entwined hearts.

MOUAWAD launches the new LOVE M COLLECTION

MOUAWAD pays tribute to love and romance with the Love M collection, of pendants, charm bracelets, necklaces, earrings and rings, with diamonds set in white and rose gold. The floral motifs are available in the single M or the quadruple M flower and have either plain or detailed finishes and studded with single or multiple diamonds. The collection uses the finest finishing techniques to produce the ultimate finish for the rose, and white gold, leaving even the matte finished pieces with a brilliant lustre that reflects like a mirror.

Blancpain unveils Saint Valentin 2014 watch

Blancpain presents Saint Valentin watch for Valentine’s Day marked with a special rendezvous between Blancpain and women. The white mother-of-pearl dial features a motif composed of airy hearts two engraved and a red transferred one floating like dainty bubbles. It is delicately framed by embroidery like border. A row of diamonds on the bezel lends a precious touch, while the ballet of white gold hands further accentuates the feather-light overall impression. The watch is fitted with a white leather strap.

Tissot presents Rose Dream Gold watch

The Tissot Rose Dream Gold is pearlised with white leather strap, flirts with the light to attract admiring glances. Twelve undulating lines diverge from the sparkling diamond studded centre. Each one suggests the power and the flow of time. A total of 42 Top Wesselton diamonds link to form a perfect circle towards the centre of the dial. These are held securely in place by two parallel golden rings, alluding to the message of eternity associated with these timeless materials and the circular shaping. There is white ceramic detail on the finely ridged crown and a practical butterfly clasp on the strap.

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