Market News

LVMH Watches and Jewelry revenue reached US$ 841 million in Q1

LVMH Moët Hennessy Louis Vuitton reported organic revenue growth of 5 per in the Q1 of 2014 for its Watches and Jewelry business group. Revenue totaled €607 million ($841 million). LVMH saw a 4 per increase in Q1 revenue to €7.2 billion $9.97 billion. Organic revenue increased 6 percent compared to the same period in 2013. LVMH’s Watches and Jewelry division comprises Bulgari, TAG Heuer, Hublot, Dior Watches, Zenith, Chaumet Fred, and De Beers Diamond Jewellers Ltd, a joint venture created with De Beers.

Dubai hotel occupancies hit 87.6% in February

Hotels in Dubai registered occupancy levels of 87.6 per cent in February, aided by several events held during the month, according to the latest HotStats report, published by TRI Hospitality Consulting. While hotels in Abu Dhabi registered 80.2 per cent occupancy during the same month.

Abu Dhabi Airport reports 15.6% rise in passenger traffic during February 2014

Abu Dhabi Airports has reported a 15.6 per cent increase in passenger traffic during February 2014 at Abu Dhabi International Airport, as compared to February 2013. The airport’s passenger statistics showed that 1.41 million passengers used the airport during the month, growing from 1.22 million during the same month a year ago.

Bahrain Q4 GDP growth slows to 5.4%

Growth in Bahrain's inflation adjusted gross domestic product slowed to 5.4 percent year-on-year in the fourth quarter of last year from a revised 5.7 percent in the third quarter, data from the state statistics body showed on Monday. GDP rose 0.7 percent from the previous quarter. The mining sector, which includes oil production and accounts for over a fifth of GDP, led growth in the fourth quarter, expanding 14.6 percent from a year earlier. Most other major sectors grew much more slowly, with construction edging up 1.5 percent and financial services also growing 1.5 percent.

Montegrappa launches “Icons” Ayrton Senna pens

To honour legendary F1 driver Ayrton Senna, in the year that marks the 20th Anniversary of his legacy, Montegrappa has issued a series of pens that encapsulate his spirit and his style. The Ayrton Senna Icons pens are offered as fountain pens, roller balls and ballpoints in jet-black resin, in the “Legend Series” of 1960 pieces each with sterling silver trim, to mark the year of his birth. The solid sterling silver “Champion Series” with cap and barrel engraved in low-relief will be available in a limited edition of 610 representing his tally of championship points. Both the Legend and the Champion models are available in an exclusive solid gold version representing the 20th anniversary of his legacy.

Company News

Audemars Piguet to unveil new lounge at Art Basel HK 2014

Audemars Piguet announces plans for a new lounge created by leading French designer Mathieu Lehanneur as well as a new piece by Austrian video artist Kurt Hentschläger to be unveiled at Art Basel in Hong Kong from 14 - 18 May 2014. Inspired by Audemars Piguet’s home in Le Brassus in the Vallée de Joux, the innovative design by Lehanneur will provide the setting for a reflective video piece by Hentschläger and an exhibition of exceptional historic and contemporary timepieces, including a display of six new models of the Royal Oak Offshore in 42 mm.

Faberge celebrates the launch of ‘A Faberge Easter at Harrods’

Harrods and Faberge celebrated the exclusive launch of ‘A Fabergé Easter at Harrods’ hosted by fashion icon and Buro24/7 founder Miroslava Duma. Guests joined Miroslava Duma, Harrods and Fabergé for an exclusive preview of the Fabergé High Jewellery pop-up salon and Fabergé exhibition housed within Harrods famed Brompton Road windows. The lucky guests were also the first to enjoy the Fabergé Cinescope; an interactive social media led experience that enables visitors to try Fabergé jewellery via a digital mirror and create a one of a kind animation portrait that can be shared across social media.  Finally guests joined Miroslava Duma within Harrods Fine Jewellery Room for the unveiling of the 1901 original Fabergé Apple Blossom Egg.

Mouawad announces the new face of its Grand Ellipse Collection

Mouawad announced last week a thrilling new collaboration. The award-winning Arab singer and master-composer, Majid Almuhandis, will be the face of Grand Ellipse, the collection that marked the launch of Mouawad watches. The Grande Ellipse chronograph includes eighteen sophisticated models, sophisticated design and practical functionality. As a distinguished musical composer with meticulous standards and attention to detail, Majid appreciates the craftsmanship and know-how required to design and creates the uniquely distinct timepieces of the Mouawad Grand Ellipse collection. 

RAYMOND WEIL announces its new CEO - Elie Bernheim

Elie Bernheim, grandson of the eponymous founder of the independent watch Brand, RAYMOND WEIL, is proud to take over the reins from his father Olivier Bernheim, and lead the family Company. This act sets the stamp of the third generation at the head of the Swiss watch Brand. Elie Bernheim joined the Company in 2006 after graduating from the prestigious Hospitality Management School of Lausanne. Elie Bernheim was in charge of the development and optimization of the global strategy for RAYMOND WEIL during recent years. Elie Bernheim was named as Chief Executive Officer (CEO) on 8 April, 2014.

Gem & Jewellery Export Promotion Council India and Russia, Alrosa signed a memorandum of understanding

India, the world’s largest diamond-processing nation and Russia, the world’s largest rough diamond producer, have taken a significant step towards greater direct diamond trade between the two countries. India’s Gem & Jewellery Export Promotion Council (GJEPC) and state-owned Russian diamond mining firm Alrosa signed a memorandum of understanding to share trade and statistical data on the diamond trade between the two countries. The MoU, inked by GJEPC Chairman Vipul Shah and Alrosa President Fyodor Andreev, is more evidence of warming trade relations between the two countries.

JEANRICHARD as the official timekeeper of the Oxford & Cambridge Boat Race

JEANRICHARD as the Official Timekeeper and Timepiece of the 160th Oxford and Cambridge BNY Mellon Boat Race when the University Boat Clubs faced each other on the Thames on Sunday 6 April 2014 in a thrilling challenge. This partnership is rooted in common values, like team spirit, endurance, passion, and a particular Philosophy of Life. The 2014 winning team Oxford University Boat Club was awarded the limited edition JEANRICHARD Aquascope watch following their stunning performance on the 6.8-kilometre stretch on the Thames River and deciding the race in 18 minutes and 36 seconds in their favour. The 78th victory of Oxford was followed by over 17 million spectators in the UK and abroad. 

Ritmo Time Group announces its sponsorship World Cup 2014

Ritmo Time Group announces seven internationally famed football players for the Brazilian national team have signed a multi-year sponsorship agreement for its Ritmo Mundo and Reflex brand. All represent the Brazilian national team at this years’ World Cup set to start in Brazil on June 12, 2014. The players will be involved in a global marketing campaign, which will launch later this spring, and will feature the players with eye catching Ritmo Mundo timepieces.

Vacheron Constantin inaugurates the “Crafted: makers of the exceptional” exhibition

Vacheron Constantin opens “Crafted - Makers of the Exceptional” at London’s prestigious Royal Academy in Mayfair. The exhibition, which bought together some of the UK’s finest contemporary craftsmen, was opened to the public from 3-5 April 2014. It was an integral part of the Crafted programme which took talented craftspeople on a journey of mentorship to help develop their creative skills into viable businesses. The Crafted: Makers of the Exceptional showcase in London helped to highlight the importance of training and the transmission of expertise in craftsmanship, demonstrating the important role that Métiers d’Art play within contemporary design.

Product Launch

A. Lange & Sohne presents Unique and rare watches

A. Lange & Söhne has crafted several commemorative series and a few singular pieces with extraordinary manifestations of craftsmanship. Now, Japanese watch forum Webchronos has launched a search for these rare watches, with the intention of presenting an exclusive selection of the Lange’s horological masterpieces in a book.
The book will be presented in 2015, the year in which the company is celebrating the 200th birthday of Ferdinand A. Lange, founder of the Saxon precision watchmaking industry. The TOURBILLON “Pour le Mérite” with a smaller movement and the unusual combination of a platinum case and a black dial is a unique piece. The 1815 Kalenderwoche is limited to 50 pieces in yellow gold. LANGE 1 TOURBILLON PERPETUAL CALENDAR HANDWERKSKUNST. For the first time, the blue numerals of the outsize date are hand-painted.

Bentley launches Denarium Tourbillon at the 2014 Baselworld

Bentley introduces a new novelty at the 2014 Baselworld, the timepiece is a hand-wound Tourbillon watches developed by TechnoTime S.A. for Bentley, and encased in yellow gold. The Tourbillon second is displayed at 9 o’clock position, and features Bentley designed custom bridge. Sapphire crystal domes over the clear dial marked with Roman numeral hour index, and exhibition caseback displays the etched ‘B’ logo on the movement back-plate. The new timepiece will be showcased at Bentley world boutiques, and limited to five pieces worldwide.

Jaeger-LeCoultre presents AMVOX2 Transponder watch

Jaeger- LeCoultre presents the AMVOX2 Transponder watch. The AMVOX2 Transponder, Jaeger-LeCoultre has integrated the remote lock/unlock function 2 which enables the wearer to control the doors of their Aston Martin within the watch case. The Keyless Access function serving to start the engine of an Aston Martin by pressing the engine stop/start button still requires the presence of the ignition key. This perfect interaction between watch and car is engineered via a micro-transmitter built into the double case-back of the AMVOX2. The antenna of the system, positioned directly beneath the watch glass, is however clearly visible. When the ‘heart’ of the AMVOX2 Transponder is in operation the logo can be seen spinning on its axis and if it stops, that means the watch has also stopped.

Philip Stein reveals Philip Stein Prestige watch collection

The Philip Stein Prestige Watch Collection presents Prestige Highlight 2014 and Prestige Round 2014. The premium Prestige Collection is of stainless steel cases that are curved to ergonomically fit the wrist. The Prestige watches have spherical curved sapphire crystal with antireflection coating as well as interchangeable straps. The dual time zone models make these sophisticated high-end watches the ideal choice for frequent travelers. The dial in Prestige Highlight 2014 is in Blue & Grey colour. The dial is Prestige Round 2014 is in Skeleton Fashion Black and the Bracelet is in Interchangeable Alligator Brown.

SOTHEBY to present three exceptional diamonds in Geneva

SOTHEBY announces to present three exceptional diamonds on 13th May 2014 Auction of Magnificent Jewels and Noble Jewels.  Among these treasures, First is the Victory Diamond - The stone has been graded by the GIA as “D” colour and Potentially Flawless; additionally it is “Type IIa”. Second is the Graff Vivid Yellow - a sensational daffodil yellow diamond and this gem is among the largest Fancy Vivid Yellow diamonds in the world and A third exquisite piece completes the trio of rare stones  Spectacular Diamond Ring by Graff, set with a round brilliant-cut diamond.

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