Market News

Swatch Group decides to quit annual Baselworld trade fair from 2019

According to NZZ am Sonntag newspaper reported on July 29, Swiss watchmaker Swatch Group is quitting the annual Baselworld watch and jewellery trade fair, calling time on an event that has been a fixture of the luxury industry calendar for a century. Omega maker Swatch is the most important exhibitor at Baselworld, which traces its history back to 1917, but more and more brands are deserting the fair held every March, blaming high costs and insufficient returns. “The Swatch Group has decided not to be present at Baselworld from 2019,” the newspaper quoted Swatch chief executive Nick Hayek as saying.

Swatch Group reported record half-year results

Swatch Group net sales increased by 14.7% to CHF 4 266 million at current exchange rates, respectively by 12.6% at constant rates. Group operating result increases 69.5% to CHF 629 million. The operating margin improved from 10.0% in the previous year to 14.7%. Net income increases by 66.5% to CHF 468 million, with a net margin of 11.0%, compared to the previous year with 7.6%. Growth in all regions, led by Asia and America. Massive gains in market share in all price segments and regions. Strong product demand by its own brands has already created bottlenecks in certain production areas. The second half of the year offers excellent opportunities for continued strong growth and further expansion of market share.

LVMH Watches and Jewelry division first –half 2018 results on rise

LVMH (Louis Vuitton Moët Hennessy) has recently announced its First-Half 2018 results. After showing strong results at the end of the year 2017, the group continues its progression, both in terms of sales and profitability. As for the Watches and Jewelry Division, the brands under portfolio follow the same trend, with a strong growth again for sales and profits. Overall LVMH, the leading luxury group in the world, continues to impress with a substantial increase of its sales – over €21 billion and a +10% increase compared to the same period in 2017 – and of its profits – with over 27% of growth compared to the first half of 2017.

Swiss watchmaking posts a very good first half in June

According to Federation of the Swiss Watch Industry FH, watch industry exports rose strongly in June, improving on the average figure reported in previous months. Their value stood at 1.9 billion francs, equivalent to growth of 11.8% against June 2017. This result enabled watch industry exports to exceed the 10 billion francs mark in the first half (10.5 billion francs +10.5%); that had no longer been the case since 2015.

Dubai Police recover $20m diamond stolen from vault

Product Launch

The new Senator Cosmopolite by Glashütte Original

Many travelers consider moving from one time zone into another a part of everyday life, whether traveling for business or leisure. The Senator Cosmopolite is designed to meet the complex demands of today's world travelers. Featuring minimalistic design and a sophisticated time zone mechanism, the latest version of the Senator Cosmopolite from Glashütte Original proves the ideal companion for contemporary cosmopolitans and world explorers. Just in time for the start of the travel season, the timepiece, presented to great acclaim this last spring, is now available worldwide.

Louis Moinet unveils its second generation 20-Second Tempograph: Tempograph Chrome

The new-generation 20-Second Tempograph, Tempograph Chrome, includes two major firsts. It features a completely black or blue surround. This extends from the bridges that structure the movement to the flange, itself engraved with a concentric Clou de Paris pattern. The time dial is located at 4 o’clock; it too is decorated with the concentric Clou de Paris pattern, a Louis Moinet hallmark. Fully lacquered in black or blue, it sets off the Louis Moinet’s signature “Dewdrop” hands perfectly. The timepiece also features a new case, borrowed from Louis Moinet’s Memoris collection, the first chronograph watch in history.

Insights into the A. Lange & Söhne design process

At the Geneva Salon early this year, A. Lange & Söhne presented five debuts in elegant black: two models each of the SAXONIA MOON PHASE, the SAXONIA OUTSIZE DATE and one of the 1815 CHRONOGRAPH. Now, they are available on the market. Berlin-based photographer Attila Hartwig took the opportunity to focus on the design of the watches with a series of architecturally inspired stills.

DOXA Watches re-issue 50th Anniversary SUB 300 Searambler ‘Silver Lung’ Watch

DOXA Watches welcomes the release of the SUB 300 Searambler ‘Silver Lung’– a highly anticipated successor to the fastest-selling DOXA of all time: 2017’s SUB 300 ‘Black Lung’ watch, designed in collaboration between DOXA and venerable dive gear manufacturer Aqua Lung. Echoing the Black Lung’s blueprint, this very special SUB 300 is a faithful homage to a rare, and highly collectable silver-dialed vintage DOXA SUB created in partnership with Aqua Lung in 1967. Unlike 2017’s ‘Black Lung,’ which was delivered in DOXA’s iconic ‘Professional’ orange dial, the Silver Lung is clad in another long-running DOXA signature: the brand’s “Searambler” livery, whose brushed silver dial evokes the warm rays of the sun reflecting off the cool surface of the ocean.

Georg Jensen presents its Fusion jewellery collection

Georg Jensen has taken its ethos of cutting edge design a step further – by inviting customers to be part of the narrative. The Fusion range introduces fluidity and self-expression into jewellery by letting clients fuse pieces together into inimitable designs. The Fusion collection is a series of stores crafted by people to wear as adornments. It’s an expression of personal style created by choosing rings and asking Georg Jensen to fuse them in novel patterns.

Azza Fahmy jewels in Bloomingdale’s Dubai

Azza Fahmy’s jewels are available at Bloomingdale’s Dubai in The Dubai Mall.  The Fine Jewellery Department is located on the Ground Floor.

Exhibitions & Events

The “Time” of VICENZAORO September

The September edition of VICENZAORO, organized by Italian Exhibition Group in Vicenza from September 22nd to 26th 2018, will feature an area entirely dedicated to the world of watchmaking and to the fascinating instrument of time measurement. Aptly named “The Watch Room” it will be an area of great visibility, elegant and functional, positioned in the pavilion belonging to the LOOK district (dedicated to fashion jewelry) where twelve brands will present the latest collections and previews, during the most important time of the year, which precedes the purchases of the end customers during the Christmas holidays. More specifically, the exhibiting companies represent an accurate international selection of the world of mechanical and quartz powered watchmaking with products boasting an attractive design.

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