Interviews

Exclusive interview with Mr. Laurent Cathala - Tiffany & Co. VP Emerging Markets

What Tiffany & Co. promises to its clients in the Middle East?

Tiffany’s Dubai office will cater the whole region but not as a direct retailer. We opened a mini version of New York headquarter that would allow us firstly to be closer to the market and secondly have a full team of local professionals to further enhance the brand on daily basis.

We will have a more coherent approach on advertising the brand and have a very clear and developed approach on the way we are speaking about the brand. Basically all media PR is controlled from the headquarter that allowed us to be coherent with cities, countries and the whole region in terms of the message we want to pass to people. We want to explain what Tiffany is to the consumers. 174 years of history was never explained properly and I think now we have the opportunity to do it.

Now we are looking into developing our stores to implement best practices to give a perfect customer experience built on the respect of all those who walk into our stores. Our customers in this part of the world will be offered the same products at the same time they are launched globally.

What are the challenges that Tiffany confronts in the region?

The regional office will cover Middle East, East Europe, Africa and Asia. Each is a different market with unique specifications. Tiffany is available in some markets but not in others. But people are waiting for us and expecting us there.

The region is crowded with high-end jewellery brands and choices. How will Tiffany compete in such market?

Yes, everyone is in Dubai. You are referring to this market, but this is not the nature of all the other markets in terms of retail. The rest of the regional market is different. In some markets Tiffany is already there so we don’t have to impose ourselves. Tiffany is a brand of choice to the customer, trusted by the people; we stay true to our value when it comes to the design of our DNA. We have our iconic true love and respect when it comes to gifting; we have items starting from AED200 or AED300 to AED20 million and even more. So how much money you have in your pocket you are a Tiffany & Co. customer.

We are basically appealing for everybody and that’s one of the strong qualities of the brand. Regionally, jewellery is very common that people wear it all the time. But in less developed markets, things are different when it comes to international brands. It’s more complicated. We want to replicate the Dubai phenomenon across the border and provide the same feeling and quality of customer service in all Tiffany boutiques.

You mentioned earlier that the company will open more boutiques in the region; what is the GCC share?

Tiffany & Co. is not represented as it should be in all Middle East markets. So for us, we view the region as emerging market full with opportunities. The brand is loved and we know there are good investment opportunities.

In terms of expansion, we have 35 stores in 15 countries in the emerging markets. We are working with partners to strengthen the basis of cooperation, agree on the goals and the means which should be common for both of us.

Does your strategy include having brand ambassadors, participating or organising red-carpet events?

According to my knowledge there is no direction worldwide to have a brand ambassador. In 174 years, we never had one. The only face that presented Tiffany was actress Audrey Hepburn after she starred in the film Breakfast at Tiffany’s. We make spot partnerships to give the best of Tiffany, jewellery to celebrities on special occasions. Actually our best ambassador is our blue gift box with all the love and respect it represents.

Does Tiffany products offered in the region meet customers’ tastes?

The regions we will be handling from Dubai office are very diverse. We are lucky to have a lot of experts working with us. People in this region like to get a whole set of jewellery so we will be increasing the jewellery sets in our boutiques. We will be offering different ranges and prices from affordable to less affordable.

But when it comes to local designs Tiffany has its own DNA and is not going to change or compromise for any market. But we can do something similar to what we did to the Japanese market; create “must have products” more matching to the local taste.

What is Tiffany & Co. message on this very auspicious occasion?

We are coming here to give our customers the best in terms of service and products. Tiffany & Co. is an iconic brand and everyone can enter our stores and find what suits his or her taste and budget. Have the pleasure to own Tiffany’s blue box.

Market News

Ahmed Seddiqi & Sons launches its Second Store at Burj Al Arab Hotel

Ahmed Seddiqi & Sons, the region’s leading timepiece retailer has opened its second retail outlet at the iconic Burl Al Arab hotel in Dubai. Present during the official opening were the Senior Management representative from Ahmed Seddiqi & Sons and Burj Al Arab hotel. The Burj Al Arab is representative of the finer things in life and the brands on offer at the Ahmed Seddiqi & Sons outlet are a reflection of their elegant surroundings and include the latest designs from renowned brands like Rolex, Chanel, Bovet, Hublot and Harry Winston.

Omega, PGA of America sign five-year strategic marketing and sponsorship agreement

OMEGA, the Swiss maker of prestige watches, and The PGA of America, today announced a far-reaching strategic marketing and sponsorship agreement that will carry through 2016. The five-year agreement, which provides for multiple “Official Timekeeper” designation, marks a major breakthrough for OMEGA in the sport of golf in the United States. The deal also enhances the brand’s rich history in sports timekeeping and aligns OMEGA with the world’s largest sports organization comprised of 27,000 men and women PGA Professionals who are recognized for their expertise in teaching the game, promoting the game, and managing golf facilities.

Company News

Chopard partners with the Elton John AIDS foundation

For the 13^th consecutive year, Sir Elton John and David Furnish opened the doors of their splendid Old Windsor home for the legendary White Tie & Tiara Ball, organized in partnership with Chopard. This exclusive private event welcomed a stunning array of guests, including a number of celebrities adorned in Chopard creations. Following the dinner, the traditional auction on behalf of the foundation took place and raised over £5 million pounds. Several exceptional lots were on offer, including a lot resulting from the collaboration between Chopard, Gary Hume and The Elton John AIDS Foundation.

Hublot opens on New Bond Street in London

Following the opening in the last two months of boutiques in the centre of Place Vendome in Paris, Madison Avenue in New York, Beverly Hills, Bal Harbour in Miami, and Ginza in Japan, Hublot continues its expansion into the world's most prestigious locations with the opening of its 36th boutique at 31 New Bond Street in London with Time Products. At the opening ceremony for this 36th Hublot boutique,  Ilie Nastase, one of the world's greatest tennis legends, joined Hublot CEO Jean-Claude Biver, and Time Products Chairman Marcus Margulies, to unveil the Nastie Bang.

Jaeger-LeCoultre announces George Chakra as friend of the brand

Jaeger-LeCoultre is proudly announced the internationally renowned designer Georges Chakra as a Friend of the Brand. Along with business partner Jocelyne Abdel Malak, Georges Chakra is co-founder of Onna Group owner of the brand today. What started as a customized couture workshop for regional clientele in 1985 has grown into an international couture and ready-to-wear fashion house.  Georges Chakra chooses to wear the Grande Reverso 976 - a timepiece of timeless elegance which, thanks to its reversible swivelling case, also hides a back full of secrets.

A. Lange & Sohne opens Store in Hong Kong

Following the launch of A. Lange & Sohne boutiques in Dresden, Shanghai, Tokyo and Seoul, the exclusive German watch brand has now opened its fifth boutique, in Hong Kong. As of June, watch connoisseurs in the metropolitan area, as well as neighbouring Mainland China, can experience the works of art bearing the quality seal “Made in Germany” in Asia’s major luxury hub. The new boutique was opened in mid June in the heart of the luxury hub of Hong Kong at Shop G11, 1881 Heritage, Canton Road, Tsim Sha Tsui, Kowloon, a place where time is at home and where visitors are invited to encounter the history and philosophy of Lange watchmaking artistry.

Piaget partners with AMFAR for the Inspiration Gala in New York

For the second year in a row, Piaget partnered with amfAR to present the Inspiration Gala in New York.  The black tie affair, held at the Museum of Modern Art, honored Oscar-nominated actor and artist, James Franco, and beloved fashion designer and ‘Project Runway’ star, Michael Kors. Franco received the Piaget Award of Inspiration for his humanitarian work and contributions to men’s style.  Kors received the amfAR Award of Courage for his leadership in the fight against AIDS. Further, Piaget will continue its support of the Inspiration Gala series when it partners with amfAR for the Paris event on June 23^rd.

Tiffany appoints new Management Officers

Tiffany & Co. has announced the appointment of Patrick F. McGuiness as senior vice president and chief financial officer. McGuiness, 45, joined Tiffany in 1990. He was promoted to senior vice president - finance in 2007, responsible for Tiffany's worldwide financial functions. On the other hand, outgoing CFO James N. Fernandez has been appointed to the newly-created role of chief operating officer. Fernandez, 55, served as CFO since 1989 and executive vice president since 1998. Among his responsibilities are diamond operations, real estate operations, distribution, manufacturing, customer service and security.

DeWitt celebrates the opening of its first boutique in Hong Kong

On 22 June 2011, DeWitt has celebrated the Grand Opening of its first boutique in Hong Kong. Located in the Elements, at Kowloon Station, this boutique gives to the brand a new opportunity to be closer to its Chinese clientele. This opening was accompanied by the launch of the latest Golden Afternoon ladies collection. To celebrate this special occasion, DeWitt hosted a gala dinner at the W Hotel in an enchanting and spectacular wonderland decor. The boutique showcases traditional watchmaking techniques and features some ancient machines such as two beautiful 19^th century “Tour a arrondir”.

Product Launch

Blancpain presents Villeret Chronographe Monopoussoir Quantieme Complet

Pursuing its reinterpretation of the Villeret collection undertaken in 2010, Blancpain is now presenting a single-pusher chronograph with complete calendar and moon phases. This model in the Villeret collection is equipped with Calibre 66CM8, a movement that emerged only recently from the workshops and was built on two principles: ensuring optimal user friendliness and preserving the understated elegance of the watch of which it will become the beating heart. This timepiece measuring 40 mm in diameter is available in a red gold version with a stamped opaline dial or in steel with a white dial – both fitted with an alzavel-lined alligator leather strap secured by a folding clasp.

Carl F. Bucherer introduces MANERO BigDate Power

The Manero range, produced by the Carl F. Bucherer is a timepiece that skillfully combines elegant simplicity and practical functionality: the appeal of the Manero BigDate Power lies not only in its classic design but also in its integrated power reserve indication. It is also designed for people who want one thing above all: a timepiece for every occasion. The round case in stainless steel or 18 K rose gold, 40 mm in diameter, underlines the classic appearance of the timepiece. This is continued in an 18 K rose gold bracelet or Louisiana alligator leather strap, which with the soft horns forms a single harmonious unit with the case.

Frederique Constant Only Watch 2011

Once again, Frederique Constant will take part in the "ONLY WATCH 2011" auction to be held in Monte Carlo, Monaco on 22 September 2011, under the high patronage of His Serene Highness Prince Albert II of Monaco. Participating for the third year, Frederique Constant will be donating a ‘Unique Family Set of Unique Pieces’ to the auction to contribute in raising money for the Association Monegasque Contre les Myopathies (Monaco Association against Myopathies), an association that undertakes research on Duchenne Muscular Dystrophy. This set consists of four timepieces, one for each member of a family.

GRAHAM’s Chronofighter Oversize Diver

GRAHAM LONDON has introduced the latest version of GRAHAM's Chronofighter Oversize Diver. This timepiece features: 47 mm steel with black PVD case, chronograph (seconds, 30 minutes counter), date at 7 o'clock, helium escape valve hours, minutes, seconds, Calibre G1734, automatic bi-compax chronograph, 28'800 A/h (4 hz), Incabloc shock absorber, power reserve of 48 hours, black dial and counters, black nickel hands and indexes with black Super-LumiNova, black chrono and minutes counter's hands with orange tip. In addition, the watch is water resistance to 1000 feet / 330 m.

Richard Mille Automatic Caliber RM 028 Saint-Tropez

With the start of summer, Richard Mille presents a new edition of the RM 028 divers’ watch, the RM 028 Saint-Tropez. The new timepiece comes as a limited edition of just 10 pieces, its blue-and-white colour palette recal­ling Saint-Tropez’ glamorous destination and the French Riviera. The classic white and blue colour-scheme takes direct inspiration from the world of yachting. The RM 028 round titanium case comes on a white rubber strap and features navy-blue numbers for the first quarter. The RM 028 Saint-Tropez boasts the same automatic-winding skeleton movement of the original model, an inte­grated variable geometry rotor and a water resistance of 300m.

Stephen Webster Astro Ball Pendants - Leo and Virgo

Stephen Webster has introduced the latest addition to what has become an exciting annual collaboration between Stephen Webster and Swarovski - the ultimate must-have accessory, the fabulously quirky ‘Astro Ball Pendants’. Reflecting each of the Zodiac signs; these dazzlingly glam pendants combine striking jewel colours of yellow topaz, blue sapphire, jet black and violet with intricately detailed gem-set motifs. Set in yellow gold plated and blackened silver, these jewel encrusted figures are a sparkling reference to each astrological sign.

Dodo Express Bracelet at Bloomingdale's

Pomellato has introduced the new bracelet for jet-setters and holiday-makers this summer, a miniature steam train in rose gold, complete with 8 carriages to carry all friends, family, luggage and holiday shopping. The Dodo Express is the cute little retro bracelet that all globe-trotting girls dream of in a travelling companion – one that will follow them everywhere without breathing a word, on aeroplanes and gondolas alike. The Dodo Express Charms are available at Bloomingdale’s Dubai in the Fine Jewellery and Watches Department.

Guess unveils its spring - summer collection

This spring – summer 2011, GUESS Jewellery infuses a new twist on slip knot bracelets. Each Beaded bracelet is adorned with popular signature charms dangling delicately. Motifs of hearts, flowers, locks and keys come in a variety of plating colors with some having fine crystal detail, adding a hint of sparkle. Also, GUESS new pendants invites you to create a look of you own, Featuring combinations of genuine crystal, colored enamel accents, and a variety of plating colors, these fine design details give each pendant a memorable look.

Tibaldi for Bentley Supersports

Bentley Motors’ Supersports has joined the Tibaldi for Bentley Continental Collection. As interpreted by Tibaldi, the TIBALDI FOR BENTLEY SUPERSPORTS pens lose nothing in translation. To represent the spirit and soul of the Continental Supersports, Tibaldi has developed a series of writing instruments that speaks in the design language of the vehicle itself. Addressing the exclusivity of the actual car, the TIBALDI FOR BENTLEY SUPERSPORTS will be limited to 630 fountain pens and 630 roller balls. The number of pieces manufactured corresponds with the horsepower of the actual vehicle.

Exhibitions & Events

Gem & Jewellery Export Promotion Council releases Official Statement

Gem & Jewellery Export Promotion Council is deeply disheartened by the disagreement in position between the consuming countries and African producers at KP Intersessional at Kinshasa. The decision affects the livelihood of millions in India who are involved with the diamond industry in different capacities. Being their representatives and on behalf of the largest stakeholder in the diamond manufacturing world today, GJEPC decry the divisions that are stopping the rightful exports from compliant mines in Marrange of Zimbabwe. GJEPC urge that good counsel should prevail amongst all the members and they come at a common position to move forward on treatment of the situation at Marrange.

Be constantly updated on the latest Watch & Jewellery Business markets of the Middle East, as well as information on competitors, promotions, product trends, industry analyses, appointments, new product introductions & developments and market research.

Our weekly 'Arabian Watches & Jewellery Business Newsletter Broadcast' is distributed to over 22,000+ industry executives, Watch & Jewellery manufacturers and distributors, retailers, investors and media consultants globally.

Unsubscribe / Submission of News / Open Forum / Obtaining our news distribution / Confidentiality Important Copyright Notice / Disclaimer

Developed by We Do Web