Proposal to turn Dubai into Gold manufacturing hub; LVMH’s watch and jewelry segment sales slip in first half; Swatch Group reports 8% increase in H1 sales

   
 
 

Interviews

 

Interview with British Polo player Mr. Luke Tomlinson

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Would you tell us the story of your association with the Jaeger-LeCoultre?

I met Harriet Grundy and Zahra Kassim-Lakha who run Jaeger-LeCoultre’s PR in the United Kingdom at a Polo Match in West Sussex and then again in Chantilly, Paris. The truth is that we hit it off well and all of us could see a future working together to help one another’s goal striving for perfection.

Why in your opinion, were you selected to represent this Swiss brand?

I have always been very keen on attention to detail and also striving for perfection. I think that is something that I have in common with Jaeger-LeCoultre. Also being the Captain of the England team and based for a lot of the year in Europe and having access to some of the more exclusive polo events in the UK. These things make us compatible with each other.

What qualities and characteristics do you bring to the brand and what do your responsibilities entail?

I think the fact that I travel throughout the world brings an international ambassador to the brand. I have been involved in polo but also understand the need for marketing public relations and enjoy meeting people as well.

As a modern, contemporary, professional sportsman, how do you reconcile your modern-day personality with the antiquity and the tradition of the 180-year Brand?

My personality is not that ‘modern-day’. In fact polo is one of the oldest team games played in the World and also has many traditions that are un-changing. The fact that polo’s equipment has hardly changed over the last century and a half (although it has been refined) sets it apart from many other sports. Indeed the sticks or mallets are still made out of bamboo and a wooden head as they were over a hundred years ago!

What do you find most attractive about a brand like Jaeger-LeCoultre?

I think without doubt the elegance, individuality and attention to detail with each piece.

What is your favorite Jaeger-LeCoultre watch? Why?

For me it has to be the reverso. Preferably with an engraving on the reverse side

Did you always want to play professional polo?

As a youngster I was keen on the idea although I finished a university degree in real estate before embarking on my career as a professional. My parents were not so keen on the idea when I was younger!

How hard do you train?

Normally gym sessions 4 times a week but riding and playing for about 3-4 hours per day with one day a week a complete rest.

Have you ever been to the Middle East? (If yes)What were your impressions?

I went to Dubai for a day on my way to Australia – I loved it but am very keen to get back out there soon.

 

 

 

 
 
 

Market Report

 

Proposal to turn Dubai into Gold manufacturing hub

Efforts are aimed in transforming Dubai from trading hub into gold manufacturing hub. Removing import restrictions on Dubai-manufactured gold jewellery in key GCC markets is a key requirement to boost the sector, gold manufacturers says. Manufacturers shared their observations with Dubai Exports, the export promotion agency of the Department of Economic Development (DED). Having Dubai-manufactured gold jewellery included in the General System of Preferences (GSP), which allows for tariff-free imports in European Union markets, was also a key proposal by the manufacturers. All these efforts aims to transform Dubai from a trading hub into a gold jewellery manufacturing hub, said Saad Al Awadi, Chief Executive Officer of Dubai Exports. Dubai has nearly 100 gold jewellery manufacturing units, in addition to a large number of free zone facilities operating in the Dubai Gold & Diamond Park and the Dubai Multi Commodities Centre (DMCC).

 
 

Market News

 

LVMH’s watch and jewelry segment sales slip in first half

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Sales of watches and jewelry were essentially flat and watch and jewelry profits slipped in the first half of the year for luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton. Revenue in the company’s Watches & Jewelry business group fell from $1.74 billion to $1.78 billion, a reported decline of 3 percent. Profit from recurring operations was down 2 percent for the group. The earnings release issued by LVMH recently indicates that the luxury goods conglomerate plans to reduce wholesale distribution of its brands--a stable that includes Hublot and TAG Heuer watches as well as Bulgari jewelry--to retail stores to instead focus on its own stores.

 

Swatch Group reports 8% increase in H1 sales

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Biel/Bienne, Switzerland First-half sales increased 8 percent year-over-year for Swatch Group while operating profit edged up 1 percent, the watch manufacturer and marketer announced recently. Gross sales for the first half of 2013 reached $4.47 billion, compared with $4.11 billion in the first half of last year, an 8 percent increase on a constant currency basis. Net sales grew 9 percent, from $3.93 billion to $4.28 billion. Operating profit increased 1 percent in dollar terms, from $965.4 million to $973.4 million, but operating margin fell from 25 percent of sales in the first half of 2013 to 23 percent in the first half of 2013. For the first time, Swatch Group lumped its production activities into its Watches & Jewelry segment, which now includes a total of 20 brands.

 
 

Company News

 

Jewels worth 40 million Euros stolen in Cannes

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An armed man stole jewels with an estimated value of 40 million Euros (53 million) in a brazen heist in broad daylight at a diamond exhibition in the French Riviera resort of Cannes recently, investigators said. The hold-up, at the Carlton Hotel on the promenade in Cannes, famous for its annual film festival, would be the second largest ever in France if the value of the jewels is confirmed. Authorities said the robbery took place around 11:30 am local time (0930 GMT) and targeted an exhibition entitled "Extraordinary Diamonds" by the Leviev jewellery house. A policeman is seen at the Carlton hotel, in Cannes. - AP. A lone gunman, wearing a baseball cap with his face hidden by a "bandana or scarf", entered the hotel through a front entrance undisturbed as security guards patrolled the premises, according to the prosecutor's office.

 

Antiquorum Presents the Only Watch 2013

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Antiquorum Auctioneers of modern and vintage timepieces presented the first hands on images of the outstanding collection of timepieces offered in the Only Watch 2013 charity auction to be held on September 28 in Monaco. This year 33 leading watch brands have each generously donated to the cause. All proceeds from the auction will benefit the Monegasque Association against Muscular Dystrophy to help finance research for Duchenne muscular dystrophy, a neuromuscular disease that affects 1 in 3,500 boys worldwide. Antiquorum will preview these pieces around the world starting from September 2nd making stops in Tokyo, Singapore, Hong Kong, Shanghai, Beijing, New York and Geneva and will be concluded by a presentation during the Monaco Yacht Show.

 

Christie’s appointed Hawazen Nazieh Nassief as Director, Middle East Relationship Management

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Christie’s announced the appointment of Hawazen Nazieh Nassief as Director, Middle East Relationship Management. Ms. Nassief will be responsible for nurturing new and developing Christie’s existing relationships with clients across the Middle East. She will join the established local Christie’s team, led by Managing Director Michael Jeha, who have been operating in the region since 2005 and hold sales twice a year in the Middle East of modern and contemporary Arab, Iranian and Turkish art. Ms. Nassief will be based in Dubai and work alongside the 10-strong Dubai team and Christie’s network of consultants throughout the Middle East in helping to support Christie’s auctions and activities around the region.

 

The Lamborghini deLaCour presented the GT3 Asia championship

The Lamborghini deLaCour team was presented in Okayama, the second race of the GT3 Asia championship. The Lamborghini deLaCour car was present with a new look, noticeable by a revised logo. The color orange was added to the logo to honor the partnership between both brands. After an astounding double win, acquired during the competition on the Motegi circuit in Japan, the Lamborghini deLaCour team didn’t meet the same success on the Okayama circuit as they previously did in Motegi. However, the deLaCour team was able to reach a timing which put them in the top ten arrivals and so remain one of the main teams of this championship, which is only at its second race.

 

AKILLIS opened new Boutique in Paris

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AKILLIS opened its first boutique in France, located at 332; rue Saint Honoré, in the high-luxury neighborhood of place Vendôme. The new store reveals the unique AKILLIS atmosphere on two floors, a mix of traditional craftsmanship and technological innovation.

 

Mauboussin appointed Thierry Chaunu as new CEO for North America

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Mauboussin appointed Thierry Chaunu as company's new CEO for North America. Thierry Chaunu considered one of the luxury goods industry's foremost experts and spokespersons has 30 years of experience developing and expanding leading luxury brands. Chaunu started his jewelry career in the 1980’s with Cartier as Senior Product Manager in Paris. As CEO, Thierry Chaunu is also the exclusive agent for Mauboussin North America, covering the US, Canada, Mexico and the Caribbea. He will be based at the company's five-story flagship boutique on Madison Avenue and 63rd Street.

 
 

Product Launch

 

RJ-Romain Jerome in collaboration with Tattoo artist, Mo Coppoletta

To celebrate this unique cooperation between RJ-Romain Jerome and artist Mo Coppoletta invited guest and collectors to a launch party of the Tatto-DNA watch, hosted by Manuel Emch, CEO of RJ, and Mo Coppoletta at his Tattoo Parlour in London on Thursday September the 12th 2013 from 7-9.30pm

 

Vancleef & Arpels introduced Charms timepieces collection

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Van Cleef & Arpels associated 2 important concepts: Time and Luck, in a one-of-a kind design, The Charms timepieces collection. Playful yet exquisitely precious with a pink gold case and two rows of diamonds, the Charms timepiece adorns its dial with a precious stone: the Carnelian, symbol of life and considered to be a protection against luck. Available in pink gold, the Charms Cornaline timepiece case is adorned by a rotating Alhambra charm. The Maison welcomes the Sweet Alhambra and Sweet Alhambra Heart earstuds in pink gold and carnelian. The Sweet Alhambra line, a refined motif with its gold pearled contour that has become an Iconic Symbol of Luck.

 

Jaeger-LeCoultre and Aston Martin presents the AMVOX7 Chronograph

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Jaeger-LeCoultre and Aston Martin celebrated the eighth anniversary of their partnership with the presentation of the AMVOX7, the first vertical-trigger chronograph equipped with a radial power-reserve display. The AMVOX7 Chronograph displays the signature characteristics of an iconic collection within a new case featuring an even more ergonomic shape, and testifies to the avant-garde spirit of an alliance entirely dedicated to aesthetic and technical innovation. The AMVOX7 Chronograph immediately draws the gaze to the motif adorning its dial and featuring the pattern of the radiator grille of the Vanquish.

 

Montegrappa’s new Hand-Painted Snake Pen

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Montegrappa issued a special version for connoisseurs of hand-painting that is Snake Pen 2013, the 6th position in the Chinese Zodiac, the Snake symbolises diverse character traits including intelligence, grace and materialism. Five elements define the Snake: Wood, Fire, Earth, Metal and Water. The overlays are hand-painted with the exclusive Limoges painting technique. The metalwork encircles a barrel in a deep red-brown hue, made of a special pearlised resin called ‘Pietra’, which is Italian for ‘stone’. The clip terminates in the signature Montegrappa ball to facilitate easy ingress and egress from one’s pocket. For the Snake, it is fashioned from the semi-precious stone Carnelian, its colour matching the cap and barrel.

 

Piaget revealed its “Dancer 2 Tones” watch models

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Piaget introduced its Dancer line with new models associating white and pink gold. The Dancer 2 Tones line is destined to delight both men and women. Its originality lies in accentuating its aesthetic identity codes by the combined use of pink and white gold that infuses the two new Dancer creations with a trendy yet classic appeal. On the technical side, this model bears the same horological signature as its predecessors. The 2.1 mm thick mechanical hand-wound 430P movement equipping the 38mm model stems directly from the legendary 9P calibre.

 

Chronoswiss introduced the Timemaster Big Date

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Chronoswiss introduced the Timemaster Big Date. This model offers more than “just” the big date, though: a power reserve indication is also prominently placed at 12 o’clock. This way, the Timemaster Big Date’s wearer always knows when it’s time to get out and move an incredibly sensible additional function even on automatic watches. The dial is a bright sky blue which conveys freshness and enhances the sportive character of this model. The case is highly polished. Its outer appearance and striking measurements promise its wearer a robust companion every hour of the day.

 

 
 

Exhibitions & Events

 

Tissot Offers a Journey through Time for its 160th Anniversary at Cité du Temps in Geneva

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In honour of its 160th anniversary, Tissot offered a journey through time and revealed some of the greatest historical moments from the past 160 years. The exhibition takes place from 26 July to 6 October at the Cité du Temps in Geneva. The exhibition is a rich fusion of heritage and modernity in an ideal location, which gives way to an amazing show. A timeline leads the visitor into the room, their every step mark a milestone of the Tissot history. The last date that represents Tissot’s 160th anniversary, opens onto the beautiful exhibition that is filled of emotion and memories.

 

The fourth edition of India International Jewellery Week (IIJW) 2013

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The 4th edition of India International Jewellery Week (IIJW) 2013 was recently held at Grand Hyatt in Mumbai. The show was inaugurated by the honorable Chief Guest, Mr. Rajeev Shukla - Member of Parliament, Mr. Vipul Shah - Chairman, GJEPC, Mr. Pankaj Parekh - Vice Chairman other senior members of GJEPC, high ranking government officials as well as GJEPC Brand Ambassador and Bollywood Diva Sonam Kapoor. The IIJW is being presented by the Gemological Institute of America (GIA) this year in association with PC Jeweller (PCJ). Several Bollywood beauties including Sonakshi Sinha, Mugdha Godse, Aditi Rao, the gorgeous Sushmita Sen, Juhi Chawla, Kristina Akheeva, Sonal Chauhan, Karisma Kapoor, Sharmila Tagore, ILa Arun, Kangana Ranaut, Vidyut Jamwal, Chitrangada Singh & Juhi Chawla took to the runway here as showstoppers and red carpet attendance showcasing the exceptional jewellery creations from established design houses and designers.

 
 

Celebrity News

 

Cate Blanchett Wore Van Cleef & Arpels to the New York Premiere of Blue Jasmine

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Cate Blanchett wore Van cleef & Arpels’s the Maison’s “Socrate” earrings in white gold and diamonds. Cate Blanchett was the picture of graceful sophistication at the premiere of Woody Allen’s Blue Jasmine held at MoMA in New York.

 
 
 
 

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