Swiss Watch Exports fell to -3% Worldwide in February 2016 while Kingdom of Saudi Arabia, Kuwait and U.A.E recorded a double digit average growth; Abu Dhabi GDP grows 5.5 percent in Q3 2015

Market News

Swiss Watch Exports fell to -3% Worldwide in February 2016 while Kingdom of Saudi Arabia, Kuwait and U.A.E recorded a double digit average growth

Swiss watch exports fell 3.3% in February to $1.7 billion (CHF 1.65 billion). Shipment to the UAE has scorned a positive CHF 90.6 (mill) in February 2016 compared with CHF 83.6 (mill) during the same period of 2015.

The imports of Swiss watches to the Kingdom of Saudi Arabia has achieved 22.3% increase (Feb 2016 CHF 29.3 (mill) compared with February 2015 CHF 24.0 (mill), also Kuwait has recorded 54.6 percent increase in February 2016 compared with the same period in 2016. Qatar was down by -25.5 percent.

Exports to Hong Kong slumped 25% year on year to $216.8 million. Shipments to China fell 6.8% from a year earlier, while a 22% jump in exports to Japan and a 2.4% increase in outbound shipments to the U.S.

Abu Dhabi GDP grows 5.5 percent in Q3 2015

Abu Dhabi’s gross domestic product reached around Dh200 billion by the end of the third quarter of 2015, with a growth rate of 5.5% compared to the same period in 2014. According to the latest economic performance report, which was issued by the Abu Dhabi Department of Economic Development studies department, non-oil GDP grew at a rate of 7.1% during the third quarter of 2015, compared a rate of 3.9 per cent for oil GDP.

Richemont’s Co-CEO Fornas to Leave

Compaignie Financière Richemont announced co-chief executive officer Bernard Fornas will exit his role on March 31and stand down from the luxury group’s senior executive committee and group management committee. Fornas has served as co-CEO with Richard Lepeu since April 2013 and has been a member of the company’s board of directors since September 2013. He will retain his place on the board as a non-executive director and will serve on its nominations committee.

Abu Dhabi International Airport passengers increase by 1.86 Million

Abu Dhabi International Airport reports 1.86 million passengers travelled in February 2016, marking an 8.7 per cent increase from the 1.71 million that travelled through the airport in the same month in 2015. The figure brings the year-to-date passenger numbers to over four million – an 11.5 percent rise over the 3.6 million recorded in the same period in 2015.

Company News

Mouawad introduces New Watches & High Jewelry at event

Mouawad Jewellers held recently a press conference at the the J.W. Marriott Marquis Hotel in Dubai hosted by Co-guardians of the Mouawad diamond house, Fred, Alain and Pascal Mouawad. The occasion showcased the brand’s prestigious new collections of luxurious Swiss-made watches and stunning high jewellery.

Chopard Co-President Karl-Friedrich Scheufele recognized with the GQ Lifetime Achievement Award

Nicholas Coleridge, President of Condé Nast International together with the international editions of GQ co-hosted cocktails to mark Baselworld 2016. This year’s guest of honour was Karl-Friedrich Scheufele, Co-President of the Chopard Group and President of la Chronométrie Ferdinand Berthoud. Nicholas Coleridge presented Mr. Scheufele with the special honour of the ‘GQ Lifetime Achievement Award’ to commemorate his outstanding contribution to the watch industry.

A.Lange & Sohne présents New Accolades

The Zeitwerk Minute Repeater was named Technical Star of the year in the Watchstars Awards 2015/2016. Within the scope of the Watch of the Year 2016 awards, Walter Lange received a prize for his lifework.

Jaeger-LeCoultre célébrâtes the 85th anniversary of the Reverso watch at the SIHH

Jaeger-LeCoultre celebrated the 85th anniversary of its iconic Reverso watch at an event in Geneva. Guests and friends of the Brand gathered together for the event which was hosted by Jaeger-LeCoultre CEO Daniel Riedo, included Catherine Deneuve, Clive Owen, Carmen Chaplin, Sarah Gadon, Elisa Sednaoui, Hubertus Hohenlohe and Eva Riccobono, among others. For the launch of its specific Reverso collection, Christian Louboutin was also in attendance at SIHH, and was present as a special guest of honor.

GJEPC expresses its solidarity and condemns attacks in Brussels

The Gem & Jewellery Export Promotion Council (GJEPC) of India expressed its solidarity with the Belgium citizens especially diamond industry of Belgium, who were at the receiving end of the terrorist attack. The Indian diamond industry is dismayed with the fact that the terrorist attacks in Brussels claimed many innocent lives and injured several people.

Piaget at Art Dubai 2016

During Art Dubai, Piaget invited visitors on a journey of discovery into its world, revealing the captivating association between audacity, celebrity, creativity, and fine craftsmanship through a specially curated collection of extraordinary pieces from both its patrimony and new creations. His Highness Sheikh Mohammed bin Rashid Al Maktoum visited Piaget Booth during Art Dubai 2016.

IWC Schaffhausen opens Airport Boutique in Dubai

IWC Schaffhausen announces the opening of its airport boutique located in the Dubai Duty Free in Terminal 1 at the new Concourse D, the newest facility at Dubai International Airport. In collaboration with retail partner Ahmed Seddiqi and Sons, the boutique officially opened its doors on 28 February 2016.

Baume & Mercier commemorates its New Boutique in Lebanon

Baume & Mercier recently hosted a ribbon-cutting ceremony marking the opening of the brand’s new boutique at Beirut Souks in Lebanon. Held on the 9th of March in collaboration with Baume & Mercier’s exclusive partner in the country, Ets. Hagop Atamian.

Product Launch

KERBEDANZ presents The Tree of Life

The Tree of Life was presented at the Palace at Baselworld 2016. The features with cut and calibrated emeralds, generously sprinkled in a snow setting around the bezel and stretching all the way to the delightfully sculpted lugs. It is the product of an a work of horological art brimming with gold leaves and spangled with diamonds – the indices – and harboring an ultra-precise. Massive yellow gold with a bas relief sculpture. The strap is alligator mississippiensis skin, with double folding clasp.

RJ-Romain Jerome unveils Batman-DNA

RJ-Romain Jerome pays tribute to Gotham City’s Super Hero with a timepiece inspired by the Dark Knight: the Batman-DNA. Housed in a black PVD-coated steel case, the black bezel has been machine-worked. The dial of the Batman-DNA mirrors the Gotham City Super Hero’s personality. Lacquered in black, is placed at the center of the dial. A black Hornback crocodile strap has also been added to the timepiece, resembling Batman’s avant-garde leather gear.

Exhibitions & Events

GJEPC organizes a two day jewellery design forecasting seminar

The Gem & Jewellery Export Promotion Council (GJEPC) organised a two-day (February 9-10, 2016) jewellery design forecasting seminar with participation from international and national experts who unravelled trends across India, Europe & the US. The aim of Design Inspirations was to give indepth insight about consumer behaviour patterns, aspirations, desires, emotions and feelings and how to translate them into thematic concepts and visual direction. The mantra of the seminar was ‘Create’ and ‘Communicate’ to stimulate a ‘Movement’ leading to a ‘Trendy Moment’!

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