Market Report

UAE is most tourist – friendly country in Arab world

The UAE is the most tourism-friendly destination in the Middle East and North Africa (Mena) region, according to the latest Travel and Tourism Competitiveness Index of the World Economic Forum (WEF). UAE rated highly for security, air transport infrastructure, and good business environment. The UAE, which welcomed more than 10 million tourists in 2013, leads the region and takes 24th place globally, followed by Qatar (43rd), Bahrain (60th), Morocco (62nd) and Saudi Arabia (64th). The country has been credited for creating a “unique environment” to draw in thousands of visitors every year. In terms of safety and security, the UAE takes the third place globally. UAE gained very high scores for its air transport infrastructure, which is ranked the third best in the world.

Market News

Rolex demands an apology from Italian officials

The head of Rolex in Italy has accused Matteo Renzi, Italy’s prime minister, of sullying the watchmaker’s reputation after he suggested that protesters and vandals in Milan were spoilt Rolex-wearing brats. In full page ads in major Italian newspapers, Gianpaolo Marini demanded an apology from Renzi and interior minister Angelino Alfano after both politicians seized on a photograph published in newspapers that purported to show one of the masked anti-Expo protesters who vandalised Milan last Friday wearing a Rolex.

Why UAE residents buy more gold than other GCC residents?

Jewellery demand in UAE dropped in Q1 2015 but not as steep compared to other Middle Eastern countries due to strong buying by Indian expatriates on the eve of ‘Akshaya Tritaya’ festival. Demand for jewellery fell eight per cent in the UAE as compared to 15 per cent drop in Kuwait, 31 per cent in Egypt and 13 per cent in Iran; Saudi Arabia bucked the trend, shining with five per cent increase in jewellery sales according to World Gold Council data for the first quarter of 2015.

Dubai Festival City takes on a Dh1.2b transformation

The Dubai Festival City Mall is undergoing a Dh1.2 billion transformation that will make further use of its prime Dubai Creek side location and raise the mall’s retail and entertainment offerings. The multiphase expansion, expected to be complete by the second quarter of next year, will raise the gross leasable area to 2.4 million square feet, add another ‘full-line department store operator as an anchor tenant, and also open a second ‘family entertainment centre’.

Company News

Parmigiani Fleurier opens new retail corner in Abu Dhabi

The design of the Parmigiani Fleurier retail corner sums up the brand identity. It includes all the design elements shared by Parmigiani Fleurier spaces worldwide. Rigour and precision are Parmigiani’s design cornerstones and these allow to highlight the timepieces. The visual identity of the brand is built around a horizontal, bronze coloured centrepiece which elegantly frames the showcases. Above and below this bronze-coloured focal point, dark wood makes the backlit logo stand out and highlights, by contrast, the showcases and sales desks.

Bremont announces as Official Timing Partner to America's Cup

Bremont announce its appointment as Official Timing Partner to the 35th America’s Cup and to the defending champion, ORACLE TEAM USA. The global America’s Cup World Series begins in July 2015 in Portsmouth, UK, followed by the America’s Cup Qualifiers and Play-Offs leading up to the dramatic 2017 final in Bermuda. Bremont is creating new firsts in America’s Cup history, as the first Official Timing Partner to sponsor both the event and the Defenders ORACLE TEAM USA. To commemorate the 35th America’s Cup, Bremont will embark on a very special project to produce a series of timepieces.

Montegrappa landed in Mumbai's Palladium Shopping Mall

Montegrappa has recently opened a standalone boutique in India, a joint venture between Montegrappa and Matrix Distributors. Concurrent with the opening of this boutique in New Delhi, in Mumbai's Palladium Shopping Mall, Montegrappa celebrated this event with the presence of Bollywood actor, Saif Ali Khan. Montegrappa presents its finely-crafted pens and luxury accessories to a growing, discerning market.

Piaget celebrates successful Arab women of the region

Piaget recently celebrates the successful Arab women of the region. For the occasion, Piaget hosted the exclusive Dinner Club by No 57 that took place on the 9th of May and recognized and commemorated the accomplishments of the region’s prosperous Arab women. Created by Emirati trendsetter Alamira Noor Bani Hashmi and Buthaina, the secrecy filled Dinner Club 57 was the perfect intimate gathering at which to celebrate Arab women who managed to turn their dream into reality with Piaget new Possession collection and its unique turning ring.

Product Launch

Officine Panerai donates the World Time Clock to the info point at the Expo Gate

On the occasion of Expo 2015 in Milan, Officine Panerai donates the World Time Clock to the info point at the Expo Gate and announces the expansion and restyling of it’s via Montenapoleone boutique by Patricia Urquiola. The Universal Exposition is being held in Milan from 1st May to 31st October 2015.

Ulysse presents Ulysse Anchor Tourbillon

Ulysse Anchor Tourbillon caliber UN-178 is housed in a rose gold or white gold case in the Classico collection. A setting with traditional lines enhanced with a white Grand Feu enamel dial. The case is in Rose gold or white gold. Case-back is Sapphire crystal and Band Leather with simple buckle.

Christophe Claret presents the first Aventicum timepieces

Christophe Claret announces the first Aventicum models that match the celebration of the 2'000 year’s anniversary of Avenches which will take place May 22nd–25th, 2015. In the center of its dial, Aventicum reveals a miniature gold bust of Roman emperor Marcus Aurelius. The features in Aventicum timepieces are ‘Mystery’ winding rotor in transparent sapphire adorned with 5 high-definition metalized chariots. The material is in  red gold and anthracite PVD-treated grade 5 titanium; Hands in carbon fiber. The strap is of Black alligator leather with black stitching. 

deLaCour presents The City Chrono Flyback

The designed dial offers an automatic chronograph movement: the caliber is no longer hidden and can be fully admired. The reading of the minutes is accentuated by red numerals at the center of the dial and the external flange is decorated with white Super Luminova numerals, to allow better readability in darker places. The movement can be appreciated through a smoked sapphire glass placed on the back of the case. A black rubber strap offering flexibility and comfort completes the ensemble.

Gc reveals Gc LadyChic Turquoise Python

The Gc LadyChic Turquoise Python is turquoise accent mixed with warm earthy tones and rose gold.  The round-shaped rose gold watch case provides the perfect frame for the smooth bezel in sophisticated silk screen python print. The delicately elaborated mother of pearl dial continues the reptilian story with its matt and satin polished scale pattern. All of these features, including the iconic Gc T-bar strap attachment and mushroom screws. The LadyChic Python is available in three different sizes. Gc LadyChic Turquoise Python will be available at select Ahmed Seddiqi & Sons stores starting June 2015.

Hermes unveils Slim d’Hermes watch

Hermès presents a new watch collection: Slim d’Hermès. A quartz movement drives the 32 mm and 25 mm models, while new colours enrich the range of alligator straps: Blackcurrant, cloud white and sapphire blue, alongside ember, Etruscan, elephant grey and ultraviolet options. The wristband is also available in box calf, Barenia leather strap or steel bracelet versions. Slim d’Hermès appears in rose gold or steel variations, with or without diamond settings. When adorned in rose gold, the watch is graced with a guilloché dial in white natural mother-of-pearl, while the brand’s ex-libris motif appears on the back of the case.

Louis Moinet presents AstroMoon, a moon phase tourbillon chronograph

AstroMoon takes Louis Moinet main style codes: an aventurine dial, a column-wheel chronograph, and genuine meteorite fragments – combined for limited edition timepieces. The watch is adorned by what has become Louis Moinet’s signature style: dew-drop hands, a large tourbillon cage with curved bridges, a chronograph hand tipped by a star, and pushers that draw inspiration directly from the Compteur de Tierces. In the centre of this rotating disc, two fragments of lunar meteorite face one another, symbolizing the moon. The gold ruby gears and edging and the steel screws, block polished heads and slots emphasize the assertive character of this painstakingly crafted movement.

RAYMOND WEIL introduces the Nabucco Cello Tourbillon

A de-structured cello; Both sides of this model are fitted with sapphire crystals, providing a surrealist plunge into a world of transparency and precision: the movement bridges supporting the tourbillon escapement and mainspring barrel, for example, take the form of the instrument's distinctive f-holes, while the slender hands are formed in the shape of a cello bow and the five lines of a musical stave are represented in the grooved bezel.

Exhibitions & Events

Christie’s Geneva May watch auction result

On 11 May, the Important Watches sale totalled SFr. 15,492,975/ $16,447,342 / €14,738,467, selling 99% by value and 95% by lot. The top lot of the sale was a Patek Philippe, platinum double-dial Sky Moon Tourbillon wristwatch with twelve complications, Ref. 5002P, manufactured in 2006, which sold comfortably within its estimate for SFr.1, 085,000 /$1,151,836 (lot 136).

Celebrity News

Celebrities dazzle in Carrera y Carrera jewelry at the 2015 MET Gala

Kate Beckinsale wore pieces from the Seda Imperial collection that feature a deep Oriental inspiration. The Garzas ring in yellow gold with diamonds together with the Sierpes earrings in yellow gold, onyx and diamonds made the actress look even more radiant for this fashion celebration. Jessica Hart wore the Círculos de Fuego bracelet in yellow gold with brown and white diamonds and the Aqua ring in yellow gold.

Frederique Bel and Hofit Golan wears AVAKIAN during the Cannes Film Festival 2015

Frederique Bel wore a pair of Diamond earrings from the Riviera collections matched with the unique Emerald ring set with Sapphires and Diamonds. Hofit Golan wore an important pair of Diamond chandelier earrings with Diamonds matched with a ring from the Riviera collection set with black and yellow Diamonds.

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