UAE retains 8th position in competitiveness ranking; Tiffany & co sales increased by 13%; Bulgari announces the establishment of a Joint Venture with Al Tayer Insignia

   
 
 

Interviews

 

Interview with Stephen Forsey, Co Founder of Greubel Forsey

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How far has Greubel Forsey come since its spectacular launch 10 years ago?

 

Since the beginning Robert and I really wanted to focus our energy on the very difficult elements of hand finishing, and generally bringing back a level of excellence to each of our creations, which we couldn’t find at the time in other pieces.

There was some fundamental research that took us several years to perfect including a lot of new techniques. We are also trying to rediscover and revive traditional techniques and finish everything by hand.

We always keep our line without any compromise on our hand finishing quality level. Some of our creations have taken years before we show it to the public because we want details to be perfect. 10 years later we developed 17 calibres, 6 patents and still have a lot of projects on their way.

 

How do you plan to celebrate the occasion?

 

Celebrating our 10 years with fireworks, big events or by creating an anniversary edition wouldn’t really match our philosophy. Greubel Forsey is not a purely commercial brand, after 10 years, we are creating around 100 timekeepers a year. We rather go through a retrospective of our Inventions, without nostalgia in order to retrace our history and as a self-reflection as well.

 

Your time pieces prices are really high, that makes nearly most of your clients collectors and those who have great appreciation for watch making, can you give us  insight into who your typical buyer might be?

 

The Greubel Forsey customer is quite atypical. To imagine investing in a timepiece, which requires many months of work to make, is not accessible to very many people. So they are people who have certain resources.

But beyond that they tend to be people with a high level of cultural interest, quite often in art. They are people who are extremely busy, who work very hard, who are often running very large businesses and financing and supporting a lot of people. So it’s a very interesting exchange to be able to meet them and to see that they are from very diverse areas of business all around the world.

 

Are you going to stay focused on tourbillon complications for the foreseeable future?

 

We have done a lot of fundamental researches and developments on the Tourbillon in fact but we also push our curiosity and know-how on our Double Balancier and our latest novelty presented at the SIHH 2014, our QP à Equation.

 

What is the bestselling watch?

 

The 24s Tourbillon GMT and the double Tourbillon 30 technique are very much appreciated in the Middle East.

 

How encouraging is the Middle East for GF?

 

This part of the world is very important and we are working on reinforcing our presence. There is a growing demand from watch collectors.

 

Do the Middle East markets meet your expectations?

 

Yes it does and we are convinced it will continue to grow smoothly. 

 

How did the number of pieces you make per year grow? What is the number today? Do you have any plans to increase your production?

 

Sometimes we would like to have a bigger team so we could do more things, but I speak from the invention or innovation side of Greubel Forsey. We are not seeking to double our quantities or to grow exponentially, simply because of the challenges of mastering and maintaining what we are doing in terms of quality, hand finishing and the excellence in craftsmanship.

 

Are there any plans to open any boutique?

 

We have around 35 retail partners to date, in about 30 countries. So quite often there is only one representative who is working with Greubel Forsey in a particular country.

On the other hand, we have a concept that is called “Time Art Gallery” that is a travelling exhibition. Our Time Art Gallery is the result of a reflextion on points of convergence between the art of watchmaking and modern art. We will have a next exhibition in Paris in October at “Vitrine am.”

 

What are the main challenges Greubel Forsey faces today?

 

We have many projects and ideas we want to do that we are working on. And inside these ambitions the challenges are expertise, our team, finding the right people to help us complete and do what we need to.

Generally it is these sorts of things, maintaining and preserving these skills, being able to share the finished result with the public. These remain challenges which are very much part of our panorama for the next few years.

That is something that has to be built and constructed and that takes time, and time is the watchmaker’s worst enemy.

 

Where do you see Greubel Forsey in 10 years?

 

We will always favour the qualitative and very exclusive approach. If we find the necessary skills and are able to develop them to our level of expectation and if the market continues to be in demand we can consider a qualitative and moderate growth.

The research for excellence of our timepieces and thus their rarity remain fundamental to our future development. We are only at the beginning of the adventure and there is still so much to do. Our strategy will not change: Exceed the limits of the possible!

 

 

 

 

 
 
 

Market News

 

UAE retains 8th position in competitiveness ranking

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UAE retained its overall eighth position in the competitiveness ranking and topped in government efficiency. IMD a top-ranked global business school based in Switzerland announced its annual world competitiveness ranking for 2014; as part of its ranking of 60 economies for 2014, the IMD World Competitiveness Centre also looks at perceptions of each country as a place to do business. The UAE continued to be ranked above a number of developed economies such as Denmark, Norway, and Netherlands, Australia and UK and regional peers like Qatar, which was ranked 19 in the global competitiveness ranking. In the GCC, only the UAE and Qatar figure in IMD’s competitiveness ranking. The IMD World Competitiveness Yearbook, which will be published at the end of June.

 

Tiffany & Co. sales increased by 13%

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Tiffany & Co. reported an increase of 13 percent in its sales year on year to $1.012 billion for the first quarter that ended 30th of April 2014. The net increase reflected favorable product costs and price increases across all product categories and over all regions, according to the company’s statement.

 

Bulgari announces the establishment of a Joint Venture with Al Tayer Insignia

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Bulgari announced a joint venture with Al Tayer Insignia. The joint venture, covering the United Arab Emirates, will be headquartered in Dubai, and will take the brand’s longstanding relationship with Al Tayer Insignia to a stronger level of collaboration. As a result of a franchise relationship with Al Tayer Group spanning over twenty two years.  With two stores located in Abu Dhabi, three stores are spread across key locations in Dubai.

 
 

Company News

 

Jaeger-LeCoultre presents its 2014 novelties in Kuwait

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For the first time at 360 Mall in Kuwait City, Jaeger-LeCoultre showcased a large scale and immersive experience in fine watchmaking. From May 14 - 24, the seminal exhibition brought together iconic collections, high jewellery and exceptional pieces as well as marking 181 years of the Manufacture.

 

OMEGA brand ambassador joined for an exclusive event at a secret Shanghai garden

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OMEGA and long-time brand ambassador George Clooney met in Shanghai for an evening of celebration. The award-winning actor and producer was part of a star-studded event on 16 May where OMEGA showcased its new Seamaster Aqua Terra timepieces. In addition to George Clooney, OMEGA President Stephen Urquhart and Orbis International CEO Jenny Hourihan also addressed the invited guests and French songstress France Owlle entertained them at the end of the evening.

 

JEANRICHARD partner Arsenal wins FA Cup 2014

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JEANRICHARD congratulates partner Arsenal Football Club on the glorious victory in the world’s oldest football competition – the English FA Cup 2014 and also accompanied them as Global Partner and Official Watch on their way to the title. Arsenal FC has won their 11th FA Cup title against Hull City FC on May 17th, 2014 at Wembley Stadium in London.

 

Hugh Jackman stars in New Montblanc International Campaign

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In a new Montblanc global campaign, the award-winning actor Hugh Jackman is seen preparing for his next big role both on and off the screen, always focused on achieving new heights; just like the iconic Montblanc Meisterstück pen “Crafted for new heights”. Jackman gives unique insight into his personal trajectory in a campaign film. Opening with the actor writing down his thoughts with his trusted Meisterstück pen, “Crafted for new heights”, his Montblanc pen and watch become his fine lifetime companions, integral to his personal journey.

 

 
 

Product Launch

 

Vacheron Constantin reveals three new one-of-a-kind additions

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Vacheron Constantin reveals three new one-of-a-kind additions to its Métiers d’Art Hommage à l’Art de la Danse collection. These three new Métiers d’Art Hommage à l’Art de la Danse watches within a white gold frame, Degas’ beloved ballerinas glide gracefully beneath the ever-dancing hands. The finesse of Grand Feu grisaille enamel painting reveals the slightest details of the protagonists: the tiniest fold of the tutus, the smooth velvet of the ribbons encircling their neck, the transparency of tulle and muslin. Strap is in Black Mississippiensis alligator leather, hand-stitched, saddle-finish, large square scales and Buckle is in white gold pin buckle, Half Maltese cross. One-of-a-kind creations, with “N°1/1” and “Hommage à l’Art de la Danse” inscriptions engraved on the back of the three watches.

 

A. Lange & Sohne timepiece presents with Rolls Royce

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The Lange 1 Time Zone “Como Edition” created exclusively for this year's Concorso d'Eleganza Villa d'Este: in fascinating close-ups, it is presented with a backdrop of historic Rolls-Royce models. The photographs of the Lange 1 Time Zone “Como Edition” were taken at the exhibition “Strive for Perfection” which the BMW Museum in Munich is hosting until 30 September 2014. The eminent competition for classic automobiles and concept cars took place on Lake Como from 23 to 25 May 2014. The winner in the prestigious “Best of Show” category received a one-of-a-kind A. Lange & Söhne timepiece. The caseback of the Lange 1 Time Zone “Como Edition” displays the hand-engraved coat of arms of the competition host. Como represents Central European Time on the rotatable city ring.

 

Two new treasures join the Breguet historical collection

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Montres Breguet and its President  & CEO, Marc A. Hayek announced the acquisition of two emblematic lots: the Breguet no°4039, an extremely fine half quarter repeating watch with eccentric hour dial and the indication of the date, and the extremely rare Breguet Tourbillon no°1176 which belonged to Count Potocki at Christie's auction on May 12, 2014. These two exceptional pieces were auctioned for a total amount of 750’000 Swiss francs. Breguet pocket watch also features a caliber 21''', an additional complication of the date indication with its gold and silver. The second acquisition Breguet Tourbillon no°1176 pocket chronometer displays a fan-shaped power reserve sector.

 

Tissot presents Lady Collection in different colors and styles

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The Tissot Lady is available in various models with different colours and style with a revolutionary Powermatic 80 automatic movement. A rose is always engraved on the caseback of every Tissot lady watch with a quartz movement. Stainless steel case with Scratch-resistant sapphire crystal; solid stainless steel bracelet with butterfly clasp with push-buttons. It is the flower represented on the Tissot Coat of Arms. Through the representation of the rose, Tissot honours women, their strength and essence and remind them to live life to the fullest.

 

Girard-Perregaux unveils a new version of the Cat's Eye Power Reserve

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Girard-Perregaux reveals a new version of the Cat’s Eye Power Reserve. It is fitted with a dial covered by an elegant guilloché effect and marked by strikingly asymmetrical features. Its oval shape is the characteristic signature mark of this collection. It combines mechanical movements with a feminine elegance of design and underscores various decorative aspects of the timepiece. Leaf-shaped hands that are both domed and slender in profile indicate all its functions. The case-back, secured by four screws, is fitted with sapphire crystal. While sparkling diamonds mark the hours, its power reserve indication is illuminated by an array of stars. Each variety of the dials comes with a black and Beige alligator leather strap or steel bracelet fitted with a folding buckle.

 

Graham presents Chronofighter Oversize Black Arrow collection

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The black PVD chronograph series features a plain carbon trigger and a telemeter function to remain in the vanguard in the fight for innovation. The Chronofighter Oversize Black Arrow watches present distinctive military style fatigues on a silkscreen printed dial. To brave the elements, each watch is endowed with a calculated telemeter scale. It enables to measure distances to the speed of sound by starting the chronograph when a visible event occurs and stop it when the sound reaches the observer. Enhanced with a black ceramic bezel; coloured rubber strap with “Clous de Paris”.

 

Van Cleef & Arpels launches Charms Gold timepiece

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The Charms timepiece is distinguished by its curved silhouette embellished with a lucky charm; it accompanies the movements of the wrist by spinning lightly round the case. The Charms watch this year reveals the full purity of its lines with the new Charms Gold models. With the Charms Gold watches, the Maison celebrates the harmonious radiance of pink gold, which features prominently in the Alhambra™ and Perlée™ jewelry collections. With its suggestion of tender feelings, the delicately polished pink gold gently reflects the light and contributes a warm feminine sheen to the creations.

 

Raymond Weil launches the freelancer collection

The new freelancer chronograph shows a metallic face, punctuated with shades of grey; this mezzo piano of power and elegance beats to the rhythm of a mechanical automatic winding movement, equipped with the chronograph function. Orange-colored notes, making a forceful impression, highlight the chronograph hand in the centre, as well as those of the hour and minute counters. The slate-grey dial of the titanium freelancer offers the day date window and a circular tachymeter scale, fitted with a screw-down, transparent back, providing risk-free immersion to 10 ATM. A brown, calfskin strap with a folding titanium clasp including a double pusher safety system complete this flawless piece.

 

Manufacture Royale presents 1770 watch

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The new MR03 calibre inside the 1770 watch is no exception to this rule. The eye is drawn along a succession of smooth curves, beginning with the domed crystal that protects the dial, whose gadrooned bezel delicately overflows to form a rim; the case middle shows rounded flanks. The crown is polished with the initials "MR" engraved in its centre. The back of the case is entirely open to reveal the splendour of the movement. The 1770 watch in steel comes with an anthracite or openworked, slate-coloured dial while the rose gold case is matched with an opaline silvered dial. All versions are proposed with an alligator strap with alligator lining and a pin buckle fastening.

 
 

Exhibitions & Events

 

A. Lange & Sohne watches were offered at Christie’s auction

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Three rare A. Lange & Sohne watches were offered at Christie’s auction on May 12 2014 in Geneva. During the “Important Watches” event, collectors purchased aside from a Lange 1A and a Lange 1 in steel a unique piece: the Tourbillon “Pour le Mérite”, limitation number 101/150, with white gold case and a special black dial. All three of the watches achieved great results: The Lange 1 with a stainless steel case was sold for 82,150 Euro (100,000 Swiss francs). The Lange 1A with the limitation number 100/100 changed owners at 41,100 Euro (50,000 Swiss francs). The Tourbillon “Pour le Mérite” was auctioned at a record of 359,000 Euro (437,000 Swiss francs) and is now counted among the most successful modern Lange pieces at auction.

 

Sotheby’s Geneva sets a world record for a jewellery sale

Sotheby’s Geneva set a world record for a jewellery auction. The sale of Magnificent Jewels and Noble Jewels totaled an outstanding CHF 125,507,450 ($141,492,079 / €103,032,964). In total, seven records were established. A record for a yellow diamond was established when the sensational ‘Graff Vivid Yellow’, an exceptional 100.09 carat daffodil yellow diamond ring sold for CHF 14,501,000 ($16,347,847/ €11,904,321). This gem of extraordinary beauty, fire and brilliance is one of the largest fancy vivid yellow diamonds in the world.

 

HKTDC Hong Kong Watch & Clock Fair event to start from September 2014

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The HKTDC Hong Kong Watch & Clock Fair is the world’s largest event of its kind and has proved itself year after year to be an effective business platform for the global timepiece industry. It will return on September 3-7 at the Hong Kong Convention and Exhibition Centre for its 33rd edition and expected to gather 760 exhibitors from around the world. Together with the “Salon de TE”, a premium event that focuses on top-end brands and designer collections, the synergy effect will bring multiple benefits for both exhibitors and buyers to provide myriad opportunities for new businesses.

 
 

Celebrity News

 

Zoe Saldana wears de GRISOGONO jewelry creations at red carpet in Cannes

Zoe Saldana wore a stunning pair of rose gold Catene earrings set with white diamonds and a rose gold ring featuring white diamonds from the Onde Collection created by de GRISOGONO at red carpet in Cannes.

 
 
 
 

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