Market News

Tiffany’s net sales hits $681.7 Million in Q3

Tiffany & Co.'s third-quarter net sales rise to $681.17 million worldwide, a 14 per cent increase from the same period last year. In the three months ending October 31, Tiffany also managed to increase gross margin by 3.7 per cent. The rise was attributed to retail price increases, improvement in manufacturing processes and sales leverage on fixed costs. The sales increase and higher operating margin contributed to a higher than expected 27 percent increase in net earnings to $55.1 million.

Damas extends bank standstill agreement with bank lenders

Damas has extended a standstill agreement it has in place with the majority of its bank lenders until December 31 as it works to restructure about $872 million (Dh3.2 billion) in debt. “The company acknowledges that the restructuring of its bank facilities is complex and involves negotiations with in excess of 20 bank lenders,” the company said. On the other hand, Damas’ six-months net profits stand at Dh4.25m compared with a net loss of Dh714.87m during the same period of 2009.

Dubai Airports forecasts double-digit traffic growth in 2011

Dubai Airports have forecasted that passenger numbers will grow 13.1 per cent to reach 52.2 million next year, driven by 10 percent increase in Emirates passenger growth and doubling of flydubai traffic as both continue their expansion strategies. In its traffic forecast, Dubai Airports projected that 46.1 million passengers will pass through the Dubai International Airport in 2010.

Company News

Mr. Biver and Hublot awarded at the Caesar Awards Gala

The Caesar Awards are the most important distinctions for luxury brands in Romania. Hosted at the Athnee Palace Hilton, the Caesar Best Honoris distinctions privileged by the presence of Jean-Claude Biver, CEO of Hublot. Caesar Best Honoris was handed by Dan Vardie, founder and editor of Caesar Magazine to Mr. Biver for his impressive achievements in the international watch industry during the last four decades.

Chopard is awarded the Jewelry Watch Prize

Chopard’s High Jewelry Owl watch was awarded the Jewelry Watch Prize at the Grand Prix d’Horlogerie’s tenth anniversary in Grand Theatre, Geneva. This unique piece is part of the Animal World Collection; 150 High Jewelry pieces especially created for Chopard’s 150th anniversary. Present at the event were Caroline Gruosi-Scheufele and Karl-Friedrich Scheufele, Chopard’s Co-Presidents, who shared honors on the set.

Cartier opens Asian Flagship Boutique in Prince’s Building, Hong Kong

Cartier inaugurated its Asian flagship boutique in the Prince’s Building, Hong Kong. The store spans 900 square metres and features a 17-metre high facade. Spotted in attendance at the grand opening on November 26 was Tony Leung Chiu-wai, Fan Bingbing, Han Ye-seul and Y.K. Pang. After the official unveiling guests were taken to Pier 4 where they walked the red carpet and enjoyed a special dinner.

Damiani launches Masterpieces Collection with Sophia Loren in Dubai, Kuwait and Doha

Sophia Loren, the most awarded and recognized Italian actress in the world has made a special appearance at the Damiani boutique in The Dubai Mall to present a selection of Damiani’s most important jewellery pieces from the Masterpieces collection. Mr. Giorgio Damiani, Vice President of Damiani Group unveiled the jewellery showcases together with the screen icon. The Masterpieces will be on display at the Damiani boutiques in  Dubai, Kuwait and at their agent in Doha Blue Salon department store for a limited time.

Van Cleef & Arpels opens its first Boutique du Temps Poetique

On November 30 2010, Van Cleef & Arpels has opened its very first Boutique du Temps Poétique located next to its first jewellery Boutique in Middle East inaugurated five years ago at Burjuman Center. The boutique includes large watch showcases, an animated numeric wall, as well as a “Watches Bar” which emphasize the alliance between the best of Van Cleef & Arpels’ watch making and Jewellery know-how.

Feliciano Lopez, new Jaeger-LeCoultre’s Ambassador

Feliciano Lopez, the Spanish tennis player is the new ambassador of Jaeger-LeCoultre. Born in 1981 in Toledo (Spain) Feliciano’s father was his first coach when he stood out in the tennis courts. Later on, Feliciano went to live in Madrid and started his career with the Spanish Tennis Federation Today, after the US Open, Feliciano occupies the number 22 in the ATP ranking.

Piaget on Ipad

Piaget has launched a new iPad/iPhone compatible version of piaget.com. The new site has been optimized for touch-screen mobile computing, providing users with the ability to explore the world of Piaget with just a swipe of their finger. Users can browse the entire timepiece and jewellery collections, explore the brand’s history and design and manufacturing heritage, or locate any of Piaget’s 71 boutiques around the world.

Montegrappa sponsors Chequered Flag Ball in Abu Dhabi

Montegrappa has sponsored the Abu Dhabi Chequered Flag Ball, a special event complementing the 2010 Abu Dhabi Grand Prix. As an accompaniment to the final race of the most exciting F1 season in years, it will remain a memorable occasion, attended by international celebrities. In conjunction with the Abu Dhabi Tourism Authority, the Ball also offered range of exclusive, once-in-a-lifetime lots under the auctioneer’s hammer to raise donations for the UK’s leading children’s cancer charity, CLIC Sargent.

Product Launch

The Patrizzi Pocket Expert - Girard Perregaux Tourbillon with Gold Bridge

Patrizzi & Co has announced the new work from its Patrizzi Pocket Expert series, an ongoing collection of pocket-sized watchmaking reference books - paying tribute to the Tourbillon with Gold Bridge from the Girard-Perregaux manufacture. The book contains clear explanations, in a pocket guide format, of the history and technical details surrounding an icon of the Swiss Haute Horlogerie. You can purchase the book online at www.patrizziauction.com.

Ulysse Nardin offers Executive Lady

Although purely feminine in aesthetic, the self-winding timepiece holds the same exactness of its male counterpart - the Ulysse Nardin Executive Dual Time. Ceramic forms the snow-white bezel, as well as the clasp on those timepieces possessing a rubber-band execution. A sapphire-crystal cover guards its glistening diamond and mother-of-pearl or purple galvanic dial, and a 40-millimeter, stainless-steel or 18-karat gold case keeps all of its precious and precise elements securely in place.

SAINT HONORE presents Haute Couture

SAINT HONORE has presented its new collection, Haute Couture, which pays homage to one of the most exacting talents: the setting of diamonds. Inspired by the world famous Parisian couturiers, the entire collection is custom-made to special orders and includes exclusive pieces with full pave settings of up to 250 diamonds and 2 carats. Haute Couture is available in Haussman or Orsay models.

ArtyA introduces Oh, my dog

Artist Dominique Arpa-Cirpka has painted a white pit bull dog on an ArtyA Coup de Foudre watch. Struck by lightning to produce an absolutely unique effect, this timepiece not only has a totally original dial, but a piece unique watch case to go with it. The watch comes with 25 jewels and is self winding and maintains 28,800 vibrations per hour. It has a power reserve of 42 hours and comes in a silver colored case.

Azimuth presents Jagdbomber White Knight

Azimuth has announced the introduction of the new Azimuth Jagdbomber White Knight model, part of the Militare-1 collection. The timepiece features 316L stainless steel in black-treated PVD case, domed sapphire crystal, 3 bars water resistance (30 meters) and Unitas 6497-1 manual winding in Cotes de Geneve decoration and blued screws.

Edox unveils the new Chronolady

Edox has unveiled a new collection of women’s watches. The new Class-1 offers the same thrills and ingredients as the original Class-1 timepiece. The Edox Class-1 Chronolady watch collection boasts a wide range of timepiece variations to match any female taste, including polished stainless steel models, black PVD-coated ones, or rose gold-coated ones. The unidirectional rotating ceramic bezel is plain or paved with diamonds. The genuine mother-of-pearl dial is black or white. This timepiece is available worldwide mid December 2010.

Pasquale Bruni’s latest Marilyn Collection

This festive season, Pasquale Bruni’s Marilyn collection presents a range of necklaces, pendant chains and rings that make perfect gift options for Christmas and the fast approaching New Year celebrations. Blending white gold settings richly studded with a charismatic blend of select diamonds, amethysts, blue topaz, prasiolite and honey quartz Marilyn collection features precious and semi-precious stones of the most amazing cut and carat, color and clarity in jewels of astonishing beauty.

Exhibitions & Events

Harry Winston: The Court of Jewels event

Harry Winston has unveiled its historic Court of Jewels exhibition for the first time in more than 50 years.  More than a $1 billion of the world’s rarest diamonds and most extraordinary gemstones were display at Harry Winston’s Fifth Avenue flagship for a star-studded event attended by:  Halle Berry, Leighton Meester, Maxwell, Georgina Chapman, Keren Craig, Rachel Roy Nora Zehetner and Hilary Rhoda. Harry Winston Hope Foundation commits to donating a minimum of 5% of its pre-tax profits to educational causes.

Fawaz Gruosi with Haifa Wehbe in Lebanon

De Grisogono has held a dinner at the newly opened Le Grey Hotel in Beirut to launch its new jewellery collection. The Lebanese diva Haifa Wehbe was present at the Gala dinner to reveal this new prestigious jewellery collection.

Hong Kong Trade Development Council to conduct Watch Industry Networking Luncheon Seminar

On 20 December, Hong Kong Trade Development Council in cooperation with Dubai Chamber of Commerce will conduct a “Watch Industry Networking Luncheon Seminar” to be held in Dubai Chamber Premises. All attending guests are key industry companies, manufacturers and traders of watches.

Paola Frani Trunk Show at Bloomingdale's Dubai

Paola Frani has presented her Spring/Summer 2011 collection at Bloomingdale’s Trunk Show, an exclusive in-store showcase of Paula Frani’s gorgeous creations in Dubai Mall on Wednesday, 1 December 2010. It was a stunning array of unique and feminine fashion designs and concepts.

MidEast Watch & Jewellery Show

The 30^th edition of MidEast Watch & Jewellery Show is all set to be held from April 5 to 9, 2011 at Expo Centre Sharjah. The event will to occupy a total exhibition area over 16,000 square meters and host more than 450 master jewelers from around the world.

6th International Fashion Jewellery & Accessories Fair and International Watch & Clock Fair 2010

The 6^th International Fashion Jewellery & Accessories Fair and International Watch & Clock Fair 2010 will be held on December 13 – 15, 2010 in Dubai International Convention & Exhibition Centre. The event will be opened incorporating the 25^th Int’l. Autumn Trade Fair with over 300 local and international exhibitors, showing varieties of exclusively trendy jewels, watches and general products.

IIJS Signature now in Mumbai

After its success in Goa, IIJS signature shifts to Mumbai, a venue that more appropriately reflects the growing importance, professionalism and size of the show, determines the growing aspirations and ambition of Indian Diamond and Jewellery industry. From 7^th January, 2011 to 10^th January 2011, NSE Grounds, Goregaon East will host the 4^th IIJS Signature. IIJS Signature 2011 expects over 15000 trade visitors, more than 400 exhibitors & boosts of around 850 booths.

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