Swiss Watch Exports – (January 2016) recorded a marginal increase in the Middle East; VAT to be introduced in UAE in 2018; WATCHES&WONDERS becomes a Biennial

Market News

Swiss Watch Exports – (January 2016) recorded a marginal increase in the Middle East

In January 2016 Swiss watch exports worldwide reached to 1.5 billion francs as per the figures released by Swiss Watch Federation,; this is a drop of (7.9%) compared to the same period in the year 2015. In comparison of January 2016 to the 2015 figures of the same month, Hong kong signed off with a steep decline of (-33.1%), Middle East made a marginal progress of 1.1%, United States & China also recorded a negative growth of (-13.7%) & (-1.9%) respectively; However Japan made very good progress by recording 35.7% growth so also the European markets recording a positive growth. It is remarkable to note that the Middle East is positioned at No. 2 in terms of Swiss Watch Exports after Hong Kong and is followed by USA, China & Japan among the top Five. The Middle East markets recorded a net of CHF 162.4 million Swiss Watch Exports with a market share of 10.7% led by UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, as top five markets in the region.

VAT to be introduced in UAE in 2018

The UAE has announced the official date of implementing a 5 per cent VAT rate. “The VAT in the UAE will be applied as of January 1, 2018,” Obaid Humaid Al Tayer, UAE Minister of State for Financial Affairs, told reporters after a joint press conference with Christine Lagarde, Managing Director of the International Monetary Fund (IMF), in Dubai.

WATCHES&WONDERS becomes a Biennial

Watches&Wonders will continue its successful run in Asia every other year, making it a Biennial. The fourth edition of Watches&Wonders will therefore take place in Hong Kong, at the HKCEC, from September 27th to 30th 2017. The latest edition of the fair, in September 2015, welcomed more than 20,000 visitors including 800 journalists from across the continent, an increase of 25% on the previous year.

Kering’s revenue increased by 15% in 2015

Kering reported revenue is increased by 15% growth in the nine months, ended on September 30, 2015. In the Luxury segment the group announced sales growth of 14.0%, lifted by the business momentum of directly operated stores. The increase was 4.6% on a comparable basis. Profit surged 32% to $774.7 million. Watches & Jewellery accounted for 10% of revenues, the retailer said. Apart from Watches – which were adversely affected by an unfavorable market environment; Luxury sales in total increased 16 percent to $8.75 billion. The comparable change was 4.1 percent.

Smartwatch Shipments Overtake Swiss Watch Shipments in Q4 2015

Global smartwatch shipments overtook Swiss watch shipments for the first time in the fourth quarter of 2015. Smartwatch shipments grew to 8.1 million units in Q4 2015, while Swiss watch shipments declined 4.8% to 7.9 million units. It is the first time ever that smartwatches have outshipped Swiss watches on a global basis according to research and consulting firm Strategy Analytics.

Company News

A. Lange & Söhne opens a Boutique in Beirut, Lebanon

A. Lange & Söhne opens a boutique in Beirut, Lebanon. Located in the heart of Downtown Beirut, the capital’s most famous and vibrant luxury-shopping area. The corporate colour, an elegant grey, can be found in the wood panelling. Elements made of sandstone are an indication of the brand’s origin.

de GRISOGONO opens its new London flagship store

de GRISOGONO announces the opening of its new London flagship store in Mayfair, London. The store features a new interiors concept developed by de GRISOGONO founder Fawaz Gruosi in collaboration with London interior architecture practice David Collins Studio.

Pierre Jacques appointed as new CEO of MCT

Kristina Ambartsumian Ripsime, Chairman of MCT (Manufacture Contemporary Time), announces the appointment of Pierre Jacques as new CEO of the watch brand. Mr. Jacques takes office on February 15, 2016. He will succeed François Candolfi, who served with skill and enthusiasm TCM direction since the takeover by Cage Holding, he had initiated as a consultant in 2012.

Messika Paris presents their new book "Messika Memoire by Assouline" for spring 2016

In honour of their 10 year anniversary, Valérie Messika collaborates with Assouline and Vivienne Becker to celebrate the momentous occasion. Valérie Messika has been a creative force in forging a new language for diamond jewelry. Jewelry historian Vivienne Becker is an award-winning journalist and author of several books on the history of jewelry design, based in London.

Vacheron Constantin appoints Alexander Schmiedt

Vacheron Constantin announces the appointment of Alexander Schmiedt as Brand Director for the Middle East. Alexander takes charge of the brand from the capable hands of his predecessor, Mr. Yassin Tag. Alexander has spent the last 11years as Managing Director of the Watches Division at Montblanc International; a part of Richemont Group. He was also responsible for product development and marketing of the brand’s timepieces during this period.

Snyper partnerships with the AS Monaco

Snyper announces its partnership with the AS Monaca, football club of the Principaute de Monaco till June 2017. Snyper will launch in March 2016 a limited edition of its Snyper Two model, featuring the official AS Monaco logo on the dial.

Product Launch

Azimuth launches the SP-1 Crazy Rider

Azimuth introduces the new SP-1 Crazy Rider which is fitted with a porthole-style bezel with exposed screws. A miniature chain circles the center of the dial, aided by open-worked wheels at both ends, this time evoking the look of a motorcycle’s sprocket brake drive system. The SP-1 Crazy Rider’s high-octane appeal extends to the back of the case. Paired with leather strap, the SP-1 Crazy Rider is available in small series each in black PVD or brown PVD coated mid-case.

F.P.JOURNE introduces the Elegante

Elegante case is Flat Tortue; it is enlarged for the pleasure of larger wrists or for those who like to wear oversized watches. The élégante features the only electro-mechanical movement, patented with two-rotor motor. The élégante F.P. Journe goes in stand-by mode after 30 minutes motionless, restart and automatic time setting when the watch is put back on motion detector with inertia weight visible on the dial. The strap is dark blue rubber; it is completed with a deployant clasp in steel and titanium.

Jaeger-LeCoultre presents Rendez-Vouz and Reverso timepiece

Jaeger-LeCoultre’s most romantic collections the Rendez-Vous as well as the Reverso touches this St. Valentine’s Day. Included in Jaeger-LeCoultre’s Reverso collection this Valentine’s Day are the Grande Reverso Lady Ultra-Thin in stainless steel, the Reverso Duetto Lady 844 or in pink gold, and the Reverso Duetto Classique set, also in pink gold. The Rendez-Vous timepiece patent leather strap holds an inside pocket where a secret message can be stored. The guilloché décor features a day/night indicator. Time moves on, each moment lit up by the diamond-set bezel. For Valentine’s Day, the Rendez-Vous collection offers a choice of Rendez-Vous Night and Day in white gold and the Rendez-Vous Moon.

Montegrappa unveils Fortuna Tricolore

‘Italian-ness’ is an innate quality of all Montegrappa pens, but the Fortuna Tricolore pen collection takes this concept a stage further. Striped from top to end in the green-white-red of Italy’s flag, it is indeed an emblematic writing instrument of Italian pride.

Perrelet launches Turbine GMT

Perrelet presents the Turbine GMT, a watch with a traveler’s soul equipped with a dual time-zone function. Steel was the obvious choice for this sporty, contemporary watch. Beneath a sapphire crystal, the generous 44 mm diameter case houses the famous bladed dial of the Turbine collection. Turbine in blue or black anodized aluminum reveals, with each movement of the wrist, an under-dial decorated with Côtes de Genève and delicately engraved with a map of the world. The Turbine GMT is available in four versions: classic black or on-trend Pacific blue, with either a matching rubber strap or an alligator strap.

RAYMOND WEIL presents freelancer skeleton watch

RAYMOND WEIL reveals its new addition freelancer skeleton watch. Black all over from its PVD-coated steel case to its calfskin leather strap – the freelancer skeleton plays with contrasts, alternating between see-through components and sophisticated rose gold detailing which catches the light. The central hour, minute and second hands as well as the indexes are rose gold plated. The wide aperture on the black galvanic dial with large opening on the skeleton movement. The bracelet is black calf leather strap, folding RW steel clasp with black PVD coating.

ROMAIN JEROME unveils the Skylab 48 Skull

ROMAIN JEROME with its transparency and the distinctive skull, the 48mm case timepiece is a nod to the trend “Skulls n‘wheels”. The bi-colour case brings contrast to the ensemble with the steel lugs, steel polished paws and the satin-finished black-PVD coated steel bezel. Each timepiece is enhanced with a skeletonized skull-shaped applique held by two functional screws to allow maximum transparency of the movement. The dial is a reference to skulls on wheels. The skull applique is in anodized aluminum, except for the applique in silver which has been polished. Strap is black alligator with steel folding clasp.

Celebrity News

Michael B. Jordan and Terrence Howard wears PIAGET to the NAACP Image Awards

Michael B. Jordan wore Piaget Altiplano 38mm Skeleton timepiece in rose gold set with brilliant and baguette-cut diamonds. Terrence Howard wore the Piaget Altiplano 38mm 900P high jewelry watch, the world’s thinnest hand-wound mechanical high jewelry timepiece, and a matching pair of Piaget Altiplano cufflinks to the NAACP Image Awards

Celebrities in Mouawad Jewelry for Grammy's

Christina Aguilera wore Mouawad’s set of rings and earrings for the 2016 Clive Davis pre-Grammy’s gala.

Demi Lovato stuns at the Grammy’s for her performance in a striking high jewelry set from Mouawad.

Jane Fonda wore an exquisite high jewelry set from Mouawad to the Clive Davis pre-Grammy’s gala in Los Angeles.

Nicole Kidman dressed in Gucci at the 22nd Annual Screen Actors Guild Awards

Nicole Kidman wore a Gucci pale pink, lavender and rose metallic gown fully embroidered with sequin paillettes and trompe l’oeil details with nude and black patent leather high heels at the 22nd Annual Screen Actors Guild Awards.

Charlize Theron wears Messika Paris at the Cinema for Peace Gala in Berlin

Charlize Theron wore white diamond ring and a pair of matching earrings from the House's iconic ‘Angel’ collection by Messika Jewellery while attending the annual Cinema for Peace Gala Evening at Berlin Film Festival.

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