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Richemont announces strong financial performance for the year ended 31 March 2021; Sales in the Middle East and Africa increased by 4%
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Market News
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Richemont announces strong financial performance for the year ended 31 March 2021. Sales in the Middle East and Africa increased by 4%.
Richemont has reported a strong performance in exceptional circumstances. Due to closures of points of sales, logistics centres and manufacturing sites, as well as the halt in international tourism resulting from the Covid-19 pandemic, sales contracted by 26% at actual exchange rates and by 25% at constant exchange rates in the first half of the financial year. As initial lockdown measures began to ease, the Group’s Maisons and businesses demonstrated remarkable agility and resilience to adapt to clients’ demands, with sales growing by 12% and by 17% at actual and constant exchange rates, respectively, in the second half of the financial year compared to the same period in the prior year. In the fourth quarter of the financial year, sales increased by 30% and 36% year-on-year at actual and constant exchange rates, respectively. Overall, the decline in sales for the year was contained to 8% at actual exchange rates and to 5% at constant exchange rates. At actual exchange rates, sales in the Middle East and Africa were broadly in line with the prior year. Sales in the Middle East and Africa increased by 4% for the financial year. The region benefited from the return of international tourism in the second half, a repatriation of sales from some locations with travel restrictions, the internalisation of Jewellery Maisons’ operations in Saudi Arabia and the development of the Maisons’ online offer. |
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NORQAIN’s CEO presents its latest collection in Dubai
Ben Kuffer, Founder and CEO of the young Swiss watch brand presented its latest collection in Dubai along with their partners Seddiqi Holding. The 3 years old family brand has managed to consolidate an impressive highly consistent collection of sports and adventure watch collection by securing a strong partnerships among which is a partnership for COSC-certified movements made by Kenissi, manufacture. Kenissi is a jointly owned by Chanel and Rolex- Tudor group. Norqain introduced so far three collections: Adventure, Freedom and Independence all equipped with mechanical movements and original striking design elements. In the coming few months, the brand intends to expand further its geographical presence to cover more territories and will soon reveal special timepieces in limited editions. Norqain is definitely a promising brand to follow.
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Company News
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Louis Vuitton becomes the official Trophy Travel Case provider for the Formula 1 Grand Prix de Monaco™
Louis Vuitton and the Automobile Club de Monaco announced a multi-year partnership and present an unprecedented Trophy Travel Case for the Formula 1 Grand Prix de Monaco™. Hand-crafted in the House’s historic Asnières workshop on the outskirts of Paris, the trunk showcases Louis Vuitton’s traditional know-how while drawing inspiration from the heritage of the Formula 1 Grand Prix de Monaco™, celebrating its 78th edition this year. The iconic Monogram canvas is adorned with the red shade of the Monaco flag while the red lines, tracing the “V” for “Victory”, are rimmed with a white strip, reminiscent of the unique urban route of the track where driving excellence goes hand in hand with power and precision. This tailor-made trunk, in the colours of the Principality, will hold the trophy depicting the 19 turns of the 3.337-km track. |
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CYRUS Geneve partners with the prestigious "URALKALI HAAS F1 TEAM"
CYRUS Genève announced the partnership with the esteemed URALKALI HAAS F1 TEAM as “Official Timekeeper & Watch Partner”, starting with the weekend’s prestigious Monaco Grand Prix, 20-23 May, the Round 5 of the 2021 FIA Formula 1 World Championship. Drivers of the Uralkali F1Team are the young and promising Nikita Mazepin and Mick Schumacher, who will experience, along with Team Principal Günther Steiner, CYRUS Genèva timepieces on race weekends during the competitions around the world. |
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PICCHIOTTI launches newly designed website
PICCHIOTTI has announced the launch of its newly designed, fully dynamic website. Built on a cutting-edge platform, the user-friendly design will convey the 54-year-old brand’s unique heritage, its impeccable craftsmanship and its beautiful creations, with special emphasis on the successful, patent-protected* Xpandable™ Collection. The constantly updating site will also feature an interactive chat function, a GPS enabled, search engine optimized and mobile-friendly store locator, as well as options to contact a retailer or set an appointment for personalized assistance. The launch of the new site will also commence a digital communication campaign. |
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Product Launch
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Bvlgari Aluminium Steke Aoki Special Edition
Nightlife and light. Joy and music. Producer, DJ & Fashion designer, Steve Aoki brightens the world with his rhythms. Bvlgari and Steve Aoki have decided to combine their values and their taste for celebration by developing an iconic and festive watch reflecting their own nature: Bvlgari Aluminium Steve Aoki special edition. The Bvlgari Aluminium special series dedicated to Steve Aoki brings together the essence of the values driving both partners. The watch is fitted with a dial bearing the artist's signature logo. “I couldn’t be more proud and grateful to announce my partnership with Bvlgari” stated Steve Aoki. Bvlgari Aluminium Steve Aoki special edition, with its aluminium case and rubber bezel, is a creation dedicated to lovers of life, optimism and movement. Its 42-hour power reserve will enable clubbers to dance until dawn.
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IWC Schaffhausen and Mercedes-AMG launches a performance engineering inspired chronograph
IWC Schaffhausen and Mercedes-AMG have launched the Pilot’s Watch Chronograph Edition “AMG”. This timepiece is the latest product to celebrate the partnership that has linked the Swiss luxury watchmaker and the German car manufacturer since 2004. Crafted from automotive engineering materials, the Pilot’s Watch Chronograph Edition “AMG” (Ref. IW377903) is IWC’s first 43mm Pilot’s Watch Chronograph featuring the IWC-manufactured 69385 calibre, as well as the first Pilot‘s Watch Chronograph with a case made of extremely light and scratch-resistant titanium. The Grade 5 titanium finish gives the watch its matte grey appearance, inspired by AMG’s signature Selenite Grey Magno paint finish. IWC unveiled the new edition during a webcast conversation with IWC CEO Christoph Grainger-Herr, Mercedes-AMG CEO Philipp Schiemer and shared brand ambassador and racing driver Maro Engel. |
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Zenith introduces Chronomaster Sport in rose gold
The Chronomaster Sport collection is the beginning of a new chapter for Zenith and its ongoing saga of groundbreaking automatic chronographs. Combining emblematic elements from past Zenith Icons while bringing out its own unique identity, the result is a contemporary and versatile chronograph – with the added flair of rose gold for this new reference. For this lavish version of Zenith’s modern yet timeless sporty-chic chronograph, the 41mm case is crafted in18k rose gold with pump-style pushers. The polished black ceramic bezel is engraved with 1/10th of a second scale, filled with matte gold lacquer matching the case and dial for a bold contrast and exceptional legibility of the fractional elapsed time display on the bezel. The white lacquered dial features the iconic tri-colour chronograph counters in shades of rhodium, anthracite and blue, while the hands and applied markers carry on the gold and black palette. A black calfskin strap completes the look by allowing the case and bezel to stand out even more, fixed to a rose gold folding buckle. |
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Presenting the Tonda Hijri Perpetual Calendar Diamonds, Rubies, Emeralds
One and a half Gregorian years after launching the Tonda Hijri Perpetual Calendar, Parmigiani Fleurier revisits its groundbreaking world premiere in a limited series of three gem-set models. The new models come in cases set either with diamonds, rubies or emeralds, with the exact shade of rubies and emeralds selected specifically to pay tribute to the national colors of the countries in the Middle East region. Green is a shade with particular significance in the Islamic world, while red and white are present in almost every national flag across the region. Each gem-set variation of the Tonda Hijri Perpetual Calendar is limited to 10 pieces only, a true horological exclusivity. |
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Girard-Perregaux presents the Laureato Absolute Infrared: Visible Only in China
Girard-Perregaux is releasing a new timepiece, endowed with a forged carbon dial, created exclusively for the Chinese market. The advent of this model, the Laureato Absolute Infrared, marks an interesting time for the Manufacture. Indeed, this year, coinciding with Girard-Perregaux’s 230-year anniversary, will see the opening of a new boutique in China, a first for the brand. Consistent with other Absolute models, the new Laureato Absolute Infrared features contemporary materials. In this instance, the 44mm case is formed of Grade 5 titanium dressed with a PVD treatment and paired with a distinctive forged carbon dial with prominent red accents. Lastly, despite its avant-garde appearance, the watch is fitted with a Manufacture movement, drawing on the brand’s vast watchmaking expertise. The Laureato Absolute Infrared is limited to 88 pieces. |
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Introducing the Bremont Solo “Lady K”
So named after the boat their father lovingly hand-built for their mother, Bremont’s founding brothers Nick and Giles English expand their successful foray into women’s watches with the new Bremont SOLO “Lady K”. Diamonds have been used for the first time in Bremont’s core collection and feature both on the dial – as eight applied indices containing claw-set full-cut 1.3mm VS2 GH diamonds – and on the stainless-steel case, its bezel claw-set with a further 60 white brilliant cut 1.35mm VVS FG diamonds, their total carat weight 0.7ct. At Bremont, all diamonds are ethically sourced, following the Kimberly Process and are conflict free. The dial, in turn is available in either white mother of pearl or black Tahitian mother of pearl, the latter of which appropriately calls to mind pictures of the open sea, yet to be explored by boat. |
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Fabergé unveils the Centenary Egg
To commemorate 100 years since Peter Carl Fabergé passed away, Fabergé has crafted an extraordinary, one-of-a-kind egg objet. Handcrafted in 18k yellow gold, and weighing an astonishing 10kg, this unique objet takes inspiration from the first-ever Imperial egg, the 1885 Hen Egg, as well as the 1887 Third Imperial Egg. The Centenary Egg, set to be a future heirloom, features gold fluting, a technique for which Peter Carl Fabergé was renowned, and which featured heavily in his early works of art. The egg is also set with spectacular Gemfields Mozambican rubies and Zambian emeralds, giving it a contemporary and colourful twist and complementing the white diamonds which line its circumference. |
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Backes & Strauss presents ‘The Vitesse Collection’
Backes & Strauss has announced the upcoming release of The Vitesse Collection of watches in collaboration with Her Royal Highness (HRH) Princess Michael of Kent. Inspired by HRH’s lifelong passion and knowledge for the plight of Cheetah’s across the African continent, these exclusive watches show Backes & Strauss at its creative best while supporting vital efforts to preserve this extraordinary species. The launch Vitesse Collection showcases several ‘Métiers d'art’ dials with hand painted cheetahs on enamel, mother-of-pearl, silk and green jade. There is also a dial with hand engraved cheetahs on a mother of pearl background. In addition there is an creative bezel set with Natural vivid yellow and black diamonds mimicking the skin pattern of the Cheetah. |
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Frederique Constant introduces Highlife Ladies Automatic
Following the launch of the first Highlife models unveiled last September, Frederique Constant is adding a new collection especially for women, simply named "Highlife Ladies Automatic". The latter features three designs - the Highlife Ladies Automatic Sparkling, Highlife Ladies Automatic Heart Beat and Highlife Ladies Automatic - combining over 30 years of watchmaking expertise and the desire to come up with an authentic creation for 21st century women. The timepieces in this collection also feature the Highlife’s hallmark strap, which is built into the case and can be changed at will – the secret to making watches truly timeless and ensuring they always strike the right note. |
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NOMOS Glashütte releases Autobahn on World Bicycle Day
Neomatik stands for “new automatic” - the innovative watch movement that can be found in, among others, the NOMOS model Autobahn. This extremely efficient self-winding caliber from Glashütte (produced by hand according to a 175-year-old tradition, together with cutting-edge methods and hi-tech) requires a very small amount of energy to become fully wound: Only 0.00000000000731 kcal. To put it another way: With a single Tic Tac, which according to the manufacturer, contains 2 kcal, you could fully wind 273 billion NOMOS watches. Considerably more energy is required on the race track or a leisurely bike ride. Not just on World Bicycle Day, but any day in fact. |
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Nour by Jahan presents Dancing Diamonds
The inspiration for this collection comes from the suns energy and strength as it lights up the whole sky; dazzling in its beauty and illuminating everything it touches. The innovative and intricate design is delivered by superior Swiss craftsmanship and technical excellence. Each brilliant diamond dances playfully along its own band of pure gold, beaming out like a ray of light. The movement of the diamonds as they flow from side to side creating a dazzling effect set against the warm golden backdrop. Just as the sun brings its brilliant glow to everything it shines its light on, so do you as you wear the Dancing Diamonds collection. |
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Maria Tash launches the Bridal Edit
Maria Tash has recently announced the launch of the Bridal Edit. The new edit couples Maria’s favorite fine jewellery designs with a wide range of bridal aesthetics and adds the perfect finishing touch for any wedding look. From minimal and traditional to architectural and romantic, these styles prove that something new and, at times, something blue can be worn long after the exchange of “I Do’s.” |
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Exhibitions & Events
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India-Morocco look to strengthen ties in the Gem & Jewellery sector
The Gem & Jewellery Export Promotion Council (GJEPC) and Embassy of India, Morocco, jointly organised the India Global Connect on 20th May, 2021. The objective of the meet was to understand the current business scenario with regard to the gem and jewellery sector and have discussions among manufacturers, exporters and importers of both the countries, and initiate a dialogue, explore trade opportunities and project India as a viable sourcing destination. The meeting concluded with Morocco participants requesting for sharing of jewellery manufacturing skills, collaborating on areas such as transfer of technology. |
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