Market News

Swiss Watch Exports increased by 3.8% in April with an increase of 4.8% in the Middle East

Swiss watch exports rose 1.7% year on year to $2 billion equivalent to CHF 1.834 billion in April this compared VS the same period in 2013. The Middle East, Hong Kong, the U.S. and Japan have shown strong figures. During the first four months of 2014, total Swiss watch exports rose by 3.8% to $7.55 billion as the number of wristwatches sold rose 1.1% to 8.5 million units. UAE imports increased by 14.1%, followed by Bahrain + 39.6, Lebanon + 14.6, Jordan 7% and Egypt 10.3%, while KSA decreased by 12.4, Qatar -1.4, Kuwait -18.2 and Oman -14.9.

Saudi Arabia GDP per capita is expected at $26000

Standard & Poor’s Ratings Services affirmed its long and short-term foreign and local currency sovereign credit ratings on Saudi Arabia at ‘AA-/A-1+’. The positive outlook reflects S&P’s view that there is at least a one-in-three chance that the ratings agency could raise its ratings on Saudi Arabia in the next year, according to an S&P statement. The ratings are supported by the very strong external and fiscal positions Saudi Arabia has built up over several years by managing high oil revenues prudently the government has retired virtually all of its debt generating additional fiscal space for countercyclical policies. S&P estimates the general government's net asset position at close to 110 percent of GDP on average during 2014-2017. S&P estimates Saudi GDP per capita at 26000 in 2014. Trend growth in real per capita GDP measured using 10-year weighted-average growth amounted to two percent during 2008-2017 which is in line with peers that have similar GDP per capita.

UAE tourism sector is expected to have stable growth in 3-5 years

The UAE tourism market is expected to grow further over the next three to five years, driven by strong air connectivity and the diversification of its offering, according to a report by real estate consultancy JLL. The hosting of the World Expo 2020, a six-month event that is expected to attract 25 million visitors, in Dubai will benefit the emirate’s hospitality sector. The benefits are likely to be extended to other emirates since visitors tend to visit multiple destinations.

UAE economy grew by 5.2% in 2013

The UAE’s economy up by 5.2 per cent in 2013 partially driven by oil output and good prices, according to a statement by the National Bureau of Statistics (NBS). The country’s real gross domestic product (GDP) touched Dh1.087 trillion in 2013 from Dh1.03 trillion in 2012. It grew by 4.4 per cent in 2012. GDP at current prices, meanwhile, stood at Dh1.477 trillion last year compared to Dh1.367 trillion in 2012. Real GDP is an inflation-adjusted measurement for goods and services product in a specific year. Non-oil GDP touched Dh731.789 billion, while oil GDP stood at Dh355.457 billion, according to NBS. The non-oil sector accounted for 67.3 per cent of the UAE’s real GDP last year.

Company News

Chopard was the “presenting partner” of the AIDS Solidarity Gala 2014

Chopard was the “presenting partner” of the AIDS Solidarity Gala 2014 in the Viennese Hofburg Palace, hosted by UNAIDS and AIDS LIFE. A very unique diamond jewel has been created for the live auction during the AIDS Solidarity Gala. As part of its support for this cause, Chopard sponsors Sir Elton John’s Oscar Viewing Party held every year and is also partner of Sir Elton John´s annual White Tie & Tiara Ball.

Arnold & Son Time Pyramid takes Robb Report Best of the Best Award 2014

The Robb Report in its June issue, celebrates the 26th annual Best of the Best awards, the magazine singled out the Time Pyramid from Arnold & Son as a winner in the Men’s Watches / Conceptual Innovation category. Designed and developed entirely at Arnold & Son’s workshops in La Chaux-de-Fonds; with a skeletonised, pyramid-shaped movement, which appears to float between the two sapphire glass covers, the Time Pyramid recalls the glass-domed skeleton clocks that enjoyed such popularity in 19th-century Britain.

Jaeger-LeCoultre partners with Los Angeles Film Festival and Toronto International Film Festival

 Jaeger-LeCoultre established a longstanding connection with the film industry, a strong commitment supporting the best artistic film festivals around the world, paying tribute to filmmakers and promoting the appreciation and preservation of film by partnering with two major film festivals in North America: the Los Angeles Film Festival and the Toronto International Film Festival.

TAGHeuer postpones the launch of new Carrera

The LVMH-owned watch brand announced recently that it is pushing back the launch of the Carrera CH80 chronograph, even though it said it has completed the development of the movement that will power the watch. TAGHeuer said it will instead focus on production of one chronograph movement, the CH1887, which will continue to power its Carrera watches. The brand said its decision to postpone production of the Carrera CH80 chronograph will allow the company to keep all movement manufacturing activities in one plant, its new facility in Chevenez, Switzerland that opened last November. The production staff who had been working on the CH80 will not be affected by the decision to delay its release and will be re-deployed among the brand’s three other production facilities in Switzerland.

Piaget Celebrates Rose Day at the Château de Malmaison

Piaget Rose Day celebrates the day on which one of the world’s most beautiful roses was christened the “Yves Piaget rose,” thus becoming a major source of inspiration for the house’s jewellery collections. For this year’s Piaget Rose Day, Piaget wrote a new chapter in the history of one of France’s most celebrated women, the Empress Josephine, and her fabled rose garden. On June 5th, 2014, Piaget inaugurated the completely restored garden of old roses at the Château de Malmaison. 

Hilary Hahn is the winner of the 11th Glashütte Original MusicFestivalAward

The violin virtuoso Hilary Hahn is the winner of the 11th Glashütte Original MusicFestivalAward. Glashütte Original Managing Director Yann Gamard and the director of the Dresden Music Festival, Jan Vogler, presented the award to this exceptional artist during a concert in the Semperoper on June 4th 2014, with the Frankfurt Radio Symphony Orchestra under Paavo Jarvi.

Swarovski unveils their new Fall Winter 2014-15 Facets of Light collection in Dubai

Swarovski reveals their new Fall Winter 2014-15 Facets of Light collection at Zero Gravity, Skydive Dubai for their top VIPs and media in the region. LED effects, holograms, kaleidoscopic and moving-image inspired motifs all feature in this futuristic new collection. It plays with the refraction of light to produce easy-to-wear, everyday pieces, as well as bold designs that make a real fashion statement. The first innovation that features in this collection is the use of different metallic effects, a fantastic opportunity for Swarovski to reinterpret the mixed metals trend. Dark, mysterious, and seductive, black light permeates the last part of the Fall/Winter 2014/15 collection.

Product Launch

Casio presents the Prayer Compass range of digital-analog watches

Casio reveals the Prayer Compass range of digital-analog watches that are designed specifically to meet the needs of the Islamic traveler. Each of these sleek digital-analogue watches features a built-in Prayer Compass feature. The Casio Prayer Compass also allows the wearer to accurately calculate the five prayer times during the day, through its digital display and the second hand. The Prayer Compass range of chronographs includes, plus dual sensors for direction and temperature, Moon age display, five daily alarms, 1/100-second stopwatch, and a 100-minute countdown timer (in 1-second units). The Prayer Compass range is also available with a metal band instead of the standard resin band.

Girard-Perregaux launches Vintage 1945 Lady watch

The Girard-Perregaux Vintage 1945 Lady is enhanced by a new dial decorated with a row of white diamonds and elegant Arabic numerals. The dial of the Vintage1945 Lady watch naturally represents the exquisite Art Deco, inspired design that is so characteristic of this collection. It is highlighted by a double curve that forms a convex dome, creating a regular and harmonious unity of volumes. Flanked by its two lateral shafts, the steel case is delicately cambered. The case-back, secured by screws, is fitted with a sapphire crystal Steel bracelet and Black alligator strap with Triple safety folding buckle in steel.

Bentley reveals Sea Captain Tungsten Edition

Bentley releases a new special Tungsten edition into the Sea Captain range of diving watches; this particular model lineup is described by Bentley as the first foray into a class of watches designed specifically for dive and water sport enthusiasts. The new model is equipped with tungsten metal uni-directional bezel, sitting on a stainless steel case designed anew to accommodate the rotating bezel. Elapsed dive timer markings made of pure white ceramic are inserted into the tungsten metal flush with the bezel surface, achieving a high degree of precision in craft. Sapphire crystal glass with nine layers of anti-reflective treatment domes over the meticulously finish dial, and the glass virtually eliminates any surface glare and ensures protection in inclement conditions.

Alpina unveils the Alpiner Collection

The Alpiner Automatic encases the AL-525 automatic 3 hands date movement. It comes in 3 sunray finished dial colours: silvered, black and grey with rose gold. The dome shaped dial under the antireflective treated “Glass Box” sapphire crystal, features applied indexes and numerals as well as thirteen superluminova dots. The Alpiner Automatic comes in stainless steel and in, bi-colour, stainless steel yellow PVD coated versions, and offers a choice between in genuine leather or stainless steel bracelet. The Alpiner Automatic Chronograph encases the AL-750 chronograph movement and features a telemeter scale on the dial for time distance calculations. The Alpiner Automatic Chronograph comes in 4 dial variants: silvered, silvered with grey “eyes”, black and grey with rose gold coloured indexes and numerals.

Pinion presents Pinion Axis ‘Steel Dawn’ and ‘Bronze Dusk’ watches

Pinion announces the availability of two new watches, titled ‘Steel Dawn’ and ‘Bronze Dusk’. The Axis is influenced by the sharp looks of early 20th century military timepieces and instruments; coated with sapphire crystal allows clear vision of the time and date from all angles and lighting conditions. The Pinion Axis is housed in a versatile case which is made from a single solid block of stainless steel (Dawn) or bronze (Dusk) and water resistant to 100 metres. The Axis is extremely robust, comes with a handmade leather strap and travel wallet.

Exhibitions & Events

BIJORHCA PARIS international trade show starts from 5th to 8th September 2014

BIJORHCA PARIS international trade show to allow 500 exhibitors to present their collections. 50% of the exhibitors are from outside France, representing 30 countries. It is a unique and welcoming place between 15,000 buyers from 90 countries, 35% from outside France and small creators or international labels established in the whole world, in the heart of Paris, the capital of fashion. Member of Paris Capitale de la Création, BIJORHCA PARIS is staged in conjunction with MAISON&OBJET. The show is held on the same dates at Parc des Expositons – Paris Nord Villepinte. 

Antiquorum’s “Important Modern & Vintage Timepieces” auction starts 28th June 2014

Antiquorum Auctioneers is looking forward to its June 28th auction of “Important Modern & Vintage Timepieces” at the Mandarin Oriental Hotel in Hong Kong. The sale will offer an impressive collection of 532 fine and rare timepieces. Previews will be held in New York and Hong Kong. Among the highlights is a collection of rare Patek Philippe timepieces including a Ref. 5029 minute-repeating wristwatch in platinum; a Ref 3979 enamel dial minute-repeating wristwatch in platinum; and a Ref. 2438-1 18K yellow gold wristwatch with perpetual calendar.

Celebrity News

Jane Fonda wore Chopard to the 42nd AFI Life Achievement Award

Jane Fonda wears a white diamond collar necklace set in platinum, a floral white diamond ring set in platinum, white diamond earrings set in white gold and a diamond line bracelet set in platinum by Chopard.

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