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Millennials propel rapid growth of the second-hand luxury goods market in the Middle East; Fifty One East welcomes patrons at its 'Watches & Jewellery Week'
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Market News
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Millennials propel rapid growth of the second-hand luxury goods market in the Middle East
According to Luxury Promise report, the Middle East’s love for luxury is fuelling rapid growth in the second-hand luxury goods sector. Whilst the pandemic has resulted in reduced in-person shopping, online platforms have profited from a surge in demand from millennials keen to acquire high-end goods at affordable prices. Sabrina Sadiq, founder and CEO of Luxury Promise said: “Our revenue increased fivefold this year due to more customers shopping online throughout the lockdowns." Traditionally, consumers from the Middle East region have preferred to shop for new goods however, this has changed due to younger, more environmentally conscious consumers looking for affordable high-end goods in prime condition.
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Fifty One East welcomes patrons at its 'Watches & Jewellery Week'
Fifty One East, Qatar's favorite department store, welcomes its patrons in its 'Watches and Jewellery Week 2021', giving them an exclusive opportunity to acquire some of the latest creations from world-renowned brands. The 'Watches and Jewellery Week 2021' is held at Lagoona Mall and will run from May 31 until June 5. Rolex, CHANEL, Boucheron and TUDOR will showcase their latest jewellery and timepieces each inside their boutiques while other exquisite names like David Yurman, Akillis, Âme Paris – a brand by Fifty One East, Falamank by Tarfa Itani and Yvan Tufenkjian will welcome clientele in a dedicated multi-brand area. Mr. Bader Al-Darwish, Chairman and Managing Director of Fifty One East, said: "We are looking forward to welcoming our esteemed clients to our 'Watches and Jewellery Week' where we share with them exceptional moments born out of mutual admiration for excellence in jewellery and watchmaking. In this special week, we will shine a light on world-class brands with which Fifty One East is proud to partner, including Rolex who will exceptionally present in Doha, and for the very first time in the world, display pieces of its latest novelties straight after Watches & Wonders Geneva 2021. This unique opportunity marks the continuous and mutual trust relationship we have with the renowned Swiss watchmaker.” “Fifty One East's signature hospitality assures our dear clients of a warm experience where they can explore new iconic and rare pieces with the highest levels of safety and preventive measures,” he added. During the week, Rolex is presenting its latest creations which were announced during Watches & Wonders Geneva 2021. Among these are the new-generation Explorer and Explorer II, watches that take us from the highest mountain peaks to the most isolated polar regions. Rolex will also showcase new versions of the Datejust 36 and the Cosmograph Daytona with refined and original dials that shine with spirit and vitality. Not to forget the exceptional new versions of Day-Date 36 and Lady-Datejust which truly reveal the radiance of diamonds. CHANEL will present a selection from its exclusive and iconic creations of High Jewellery pieces that retrace the history of symbols from mademoiselle’s private life. The selection pays tribute to classic signatures of Gabrielle Chanel including the tweed, the coromandel, the camellia, the comet, the feather, the ribbon and the lion. CHANEL will also present the latest addition to its Coco Crush collection, the reinvented Toi et Moi rings. With two lines coming together like 2 destinies that meet and intertwine without merging, the new rings symbolize love and freedom. Boucheron will present select pieces from its latest creative High Jewellery collection, Contemplation, which seizes the intangible and captures life’s precious moments. In addition, the French Maison will also unveil its new Serpent Bohème Aquaprase collection which introduces, for the first time in jewellery history, the translucent natural stone, aquaprase, on rings, necklaces, earrings and bangles. Boucheron will also take the opportunity to present some of its latest Spring novelties from the iconic collections Quatre, Serpent Bohème, Nature, and the boundlessly free and effortlessly playful, Jack de Boucheron collection. Building on its reputation for creating emblematic models chosen by the boldest adventurers, TUDOR is presenting its latest models which were also announced during Watches & Wonders Geneva 2021. Marking the 50th anniversary of its first chronograph, TUDOR will present its new Black Bay Chrono model in steel and new versions of the Black Bay 32/36/41 and 1926. It will also present the bold new version of Black Bay Fifty Eight in 18K gold with an open case back. Similarly, the Swiss manufacturer will showcase the Black Bay Fifty Eight in 925 silver with yet another impressive open case back. The ‘Fifty One East Watches and Jewellery Week 2021’ is another commitment to bringing jewellery and watches connoisseurs in Doha outstanding quality and choice. Nothing compares to experiencing these fine examples of craftsmanship in person and therefore Fifty One East invites its customers to abide by all precautionary measures set by the Qatari authorities and help keep everyone safe. |
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Italian Exhibition Group announces Vicenzaoro will be back in physical presence
Indeed, from 10th to 14th September, in the splendid setting of the city of Vicenza, Vicenzaoro, the international jewellery show, organized by IEG – Italian Exhibition Group and Europe’s first event of the sector, will be back, in physical presence. VOS will be accompanied by innovations in the technological field with the return of T.Gold, the international show for machinery and advanced technologies applied to jewellery design and processing: traditionally scheduled in January, this year, the show has moved to September and will be integrated into the same exhibition halls. VOVintage (11-13 September), the marketplace for watches and high-quality vintage jewellery, open to a public of enthusiasts and collectors, will be staged practically at the same time together with new areas specifically for contemporary watch buyers. |
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Company News
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Chopard announces Seven Happy Women for Chopard Happy Diamonds Campaign
Diamonds symbolising a call to freedom and happiness: an iconic emblem permeating jewellery and watchmaking alike, Happy Diamonds are a powerful anthem to joy that resounds around the world with unmistakable panache. A legendary Chopard signature, whose colours are now flown by seven Happy Women who, each in their own way, shape the world and personify an irrefutably free-spirited attitude. With an enchanting smile, seven Happy Women, from the four corners of the world, make the Happy Diamonds codes their own and stage the vibrant energy of their perpetual movement. Dorra Zarrouk, Deepika Padukone, Aja Naomi King, Jung Ryeo-Won, Sadie Sink, Anne Nakamura and Yang Zi exemplify the perpetual rebirth of Happy Diamonds. |
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CHANEL announces Margot Robbie as the new face of J12
In 2021, Margot Robbie joins the faces of the iconic CHANEL J12 watch campaign initiated in 2019. “It feels incredibly special to be alongside such inspiring women in this campaign. Embodying the J12 watch to me is acknowledging and appreciating time“, says Margot Robbie. |
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OMEGA serves as Official Timekeeper at the Wanda Diamond League in Doha, Qatar
World athletics is well and truly back on track, with the second leg of the Wanda Diamond League took place in Doha on 28th May 2021. As always, OMEGA is the Official Timekeeper in service of the top track and field athletes as they compete on the international stage. The luxury Swiss watch brand is following the league around the globe, providing precision at 14 separate events in 11 different countries. The highly competitive series consists of 13 events and a grand final, with winning margins measured in microseconds. Fortunately, the Diamond League’s rising stars can rely on OMEGA’s signature Swiss precision. The brand will also serve as Official Timekeeper at the eagerly awaited Tokyo 2020 Olympic Games, marking its 29th time in the distinguished role. |
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Zenith joins Patrick Mouratoglou as the Official Timekeeper of UTS Season 2
May 24 marked the start of the second season of UTS (Ultimate Tennis Showdown), a new tennis league created by Zenith Friend of the Brand Patrick Mouratoglou. A supporter and partner since its first edition in 2020, Zenith is proud to take on the role of “Official Timekeeper” for this innovative, intense and spectacular showdown of rising tennis stars. In a bid to bring tennis to a younger and wider audience, UTS breaks away from the conventional format and rules of tennis tournaments with a lighter code of conduct and emphasis on entertainment. Here, players can bring out their personalities on the court like never before.
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Product Launch
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Introducing Aquanaut and Aquanaut Luce by Patek Philippe
Building on more than fifteen years’ success, Patek Philippe is presenting a new development in the design of the ladies’ Aquanaut Luce, namely a larger diameter (38.8 mm) and a new integrated strap in a composite material. This model of casual chic is available in steel (Reference 5267/200A) or in rose gold (5268/200R) with a choice of dial colors and coordinated straps. Also making its debut in the ladies’ Aquanaut Luce line is a completely new travel watch, as elegant as it is practical, powered by a quartz Travel Time movement (Reference 5269/200R). The Aquanaut models for men, meanwhile, are enriched by the arrival of the first white-gold version of the Aquanaut Chronograph, with a color scheme of midnight blue or khaki green (Reference 5968G).
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Girard-Perregaux unveils Tourbillon with Three Flying Bridges - Aston Martin Edition
The first timepiece borne of the recently announced partnership between Girard-Perregaux and Aston Martin has been revealed. The 44 millimetre case of the tourbillon with Three Flying Bridges - Aston Martin edition is formed of Grade 5 titanium, a strong, hypoallergenic alloy selected by Aston Martin for its lightweight properties. It is suffused with black DLC, bestowing the watch with a stealthy appearance. A sapphire crystal 'box' is positioned front of houses, as well as to the rear, coaxing light to illuminate the case interior, thereby augmenting readability. The movement eschews a mainplate, sitting between both panes of sapphire crystal and seemingly floating in mid-air. Three bridges, an iconic signature of Girard-Perregaux, span the dial and are formed of titanium with black PVD treatment and polished angles. |
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Moritz Grossmann launches the Benu Emirates Watch Club
Typically known for its classically-styled watches with top-class movements – the Hamatic being a good example – Moritz Grossmann occasionally embarks on more adventurous projects. Its latest is a collaboration with Emirates Watch Club, a band of horology enthusiasts in the United Arab Emirates. Based on Grossmann’s signature wristwatch, the Benu Emirates Watch Club retains the wonderful cal. 100.1 movement, but with an unusual dial of German silver that’s finished with a pronounced linear graining as well as hand-engraved hour numerals. Named after an Egyptian god as most first-generation Grossmann models are, the EWC edition is near identical to the standard Benu. The case is steel and 41 mm in diameter with broad, long lugs that give it a largish footprint on the wrist.
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The URWERK UR-105 Tantalum Hull marks the end of the 105 Collection
The new Tantalum Hull is the last edition of the UR-105 CT and ends the 105 collection in style. Presenting the UR-105 TTH. The UR-105 TTH – “TTH” stands for Tantalum Hull – is a beautiful object, substantial and pleasing to hold. Its distinctive octagonal form features deep streaks along its entire length. It is angular, geometric, and symmetrical with strong influence from the Art Deco style. A power reserve indication and digital seconds complete the information on the dial. The digital seconds displaying the seconds in ten-second increments is particularly remarkable. To make it as light and as ephemeral as possible, the seconds disk was made using the LIGA photolithography process and the marker is openworked. The total weight of the display is less than 0.10 grams.
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Summer approved piercings by Maria Tash
Fine jewellery designer and celebrity piercing expert, Maria Tash is excited to announce the launch of the Summer Edit. The new edit features a wide variety of gemstones, from Opal to Turquoise and Colourful Diamonds. The vivid hues of the gems, light-catching diamonds and glistening styles are sure to get your ear summer ready. |
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Exhibitions & Events
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GJEPC along with eBay launches an Exclusive Online Jewellery Store
The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of gem & jewellery trade in India, has forged a unique partnership with global E commerce giant eBay to offer to its Members an Exclusive Jewellery Store on eBay. With its ‘Make in India for the World’ tag, the Jewellery store on eBay will help jewellery exporters including MSMEs and Brands to boost online jewellery sales with a low setup cost. It will also provide market research & insight along with being a local business development support. Ebay has 183 million Active Buyers (Q2 2020) having more than 15,000 Indian sellers, which is a high potential market segment for GJEPC members. |
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