Interviews

Exclusive Interview with Mr. Danny Mukhi, Managing Director of ISTANA JEWELLERS

As an important retailer representing some well-known international brands in the UAE, what in your opinion, are the reasons for the company’s success?

ISTANA offers a range of high-end jewellery brands, with different aesthetics. For example, Adler is very design based and offer pieces set in titanium and wood, and Chantecler draws inspiration from Capri, using bright colours such as turquoise. Repossi is another great brand who is very on trend, and their collections are very wearable yet still make an impression. Chatila have fantastic pieces, which make a statement and are perfect for the red carpet. George Clooney’s wife, Amal Clooney even wore a pair of Chatila earrings at her wedding.

What aspirations do you have for the Chatila brand in Dubai?

I’d love for Chatila to be recognized throughout the UAE as one of the leading brands in haute joaillerie.

How is Chatila perceived in the UAE?

Chatila is one of the leading names in the jewellery market, and is well known amongst jewellery connoisseurs. Their pieces are made to awe our customers, with a lot of sets being made into collectables with important rare stones, such as the 100-carat emerald cut diamond mounted in a necklace, or the 50-carat pear shaped Columbian emerald mounted in a necklace.

As a retailer, what pattern are you seeing emerging among young people with regard to gold and jewellery purchases?

Currently, people are more and more educated on jewellery, especially important and rare stones. They’re aware of what’s happening at jewellery auctions worldwide, and people are looking at pieces today in regards to value. They want something timeless that will last for years and years that they can pass on to their children and grandchildren.
The concept of jewellery has changed in recent years, and people are looking for interesting designs that are considered a piece of art, whilst still fitting in with the individual’s personality. The idea of jewellery as an investment has also started becoming more predominant in recent years, and this all ties back to their jewellery as an heirloom perception.

With a wealth of experience in the business how do you describe the taste of Arabian women in their choice of watches and jewellery?

This really depends on the lady herself. People want their jewellery to be an extension of their outfit, while still fitting their personality and style. Arabian women are one of the trendiest and well dressed in the world, and their jewellery and accessories really reflects this.

What in your opinion is the new trend in jewellery? Are buyers moving towards colour or white stones?

Currently, coloured stones are gaining importance as they are becoming more and more rare. The trend is leaning towards emeralds, rubies and sapphire, however, diamonds are still very much in demand. Fancy coloured diamonds, such as yellows, pinks and blues are also very rare and are fetching unprecedented prices. It’s very difficult to find high quality diamonds, especially when it comes to matching them when making a set or a series of stones.

What kind of international tie-ups are you envisaging for the Istana in the future?

We have recently introduced the ASHOKA by William Goldberg, who has become synonymous with the most spectacular diamonds in the world. The cut is unique and is an enhanced cut of the legendary ASHOKA diamond from the Golconda mines, which was depleted years ago.
FORMS is a Hong Kong and Geneva based company which produce spectacular designs for important stones. They are exceptional forms of wearable arts and offer a myriad of shades of elegance and unique aesthetics.
We look for brands that are unique, offering our customers one of kind pieces.

Do you have any plans to open more boutiques in Dubai or to  expand to other markets?

We are already in Hong Kong and London but of course, we are proud to be a Dubai based company. We operate by appointment worldwide and I personally attend all of these. ISTANA offers a personalized experience with the option of bespoke pieces tailored to our customers’ needs.

Market Report

LVMH revenue increased by 18% Year-to-Date with Jewellery and Watches +22%

Luxury Group LVMH (Moët Hennessy Louis Vuitton) announced a 22-percent increase in revenue for its Watches & Jewelry division in the first nine months of 2015. Revenue has increased from €1.97 billion ($2.2 billion) in 2014 to €2.4 billion. LVMH said Bvlgari performed “remarkably well,” driven by all product categories and all regions of the world while Hublot grew rapidly and increased its production capacity with the opening of its second production facility in Nyon, Switzerland. Also the company stated that TAG Heuer will reveal its new smartwatch made in partnership with Google and Intel, in November.

Market News

Saudi Arabia and UAE are expected to see big surge in millionaires

The total number of dollar millionaires are expected to rise 46.2 per cent globally in next five year while, Saudi Arabia and UAE are expected to witness a significant surge in millionaire population, according to sixth annual Global Wealth Report from The Credit Suisse Research Institute. The UAE currently has 59,000 dollar millionaires and is expected see a 62 per cent jump in that number to 96,000 by 2020, according to Credit Suisse. Saudi Arabia’s millionaire numbers are projected to surge from 50,000 in 2015 to 86,000, up 72 per cent by 2020. In terms of total wealth, Saudi Arabia is ranked first among GCC economies, with an estimated total wealth of $0.7 trillion (Dh2.6 trillion), closely followed by the UAE with an estimated wealth of $0.6 trillion.

Company News

Bulgari announces the start of work on the renovation of the Spanish Steps

Jean-Christophe Babin, CEO of the Bulgari Group, and Ignazio Marino, the Mayor of Rome, are pleased to announce the start of the work on the conservation and renovation of the Spanish Steps. The project is the result of an agreement with the City of Rome signed in March 2014 that promised a donation of 1.5 million Euros from the Group.

Chopard reveals the Happy Diamonds Collection in an exclusive event in Abu Dhabi

Chopard along with Al Manara International Jewellery in Abu Dhabi hosted a unique and private event at the Rosewood Abu Dhabi to showcase the iconic Happy Diamonds Collection to its guests. The Happy Diamonds Collection spirit and ambiance reigned over the entire suite and guests were able to enjoy lively activities and delicious fine delicacies in a joyful and festive environment.

La Montre Hermès announces the launch of its Slim d’Hermès Movie and Website

La Montre Hermès presents the new Slim d'Hermès movie, and Slim d'Hermès dedicated website which is now live to support the launch of the new watch line. This film is associated with a website devoted to Slim d’Hermès: the watch reveals itself in its many forms, hidden behind each dial. A click on 12 noon makes the film appear: a man, a woman, or both at once.

Jaeger-LeCoultre hosts an intimate dinner at Ristorante at the Armani Hotel in Dubai

Jaeger-LeCoultre and Momentum recently hosted an intimate dinner at Ristorante at the beautiful Armani Hotel in Dubai. This exclusive event coincided with a seminal exhibition, which took place in The Dubai Mall from October 7 – 17, 2015. Marc de Panafieu, Regional Brand Director of Jaeger-LeCoultre together with Tariq Malik, Co-Founder and Managing Partner of Momentum, were in attendance to share more about the philosophies of timekeeping with an esteemed group of timepiece collectors.

Bell & Ross to participate in Dubai Air Show 2015

Bell & Ross to be a part of the 14th edition of the Dubai Air Show 2015 for the 2nd time. The biennial event will take place at Dubai World Central (DWC), located in the Jebel Ali area of Dubai and will focuse on connecting buyers to sellers from all over the globe. The Dubai Airshow is organized by F&E Aerospace in cooperation with the Government of Dubai, the Dubai Civil Aviation Authority, Dubai Airports and in collaboration with the UAE Armed Forces.

GJEPC elects new Chairperson and Vice Chairperson

GJEPC announces the results for the elections for the posts of GJEPC Chairperson and Vice Chairperson; and for the Committee of Administration of Panel Members and Regional Chairpersons for the period 2015-17 - Praveenshankar Pandya of Revashankar Gems and also Chairperson of the Diamond India Ltd were elected Chairperson of the GJEPC. Russell Mehta, CEO of Rosy Blue (India) Pvt. Ltd. became its Vice Chairperson.

Product Launch

Swiss Watch Exports fall in the third month of September

Swiss watch exports slumped in September as the U.S. market recorded its worst monthly downturn in five years. Asia recorded its third consecutive months to show decline in Swiss watch exports, Hong Kong showed “no sign of improvement”, while China was “less negative than in July and August”. Swiss exports to Singapore, the United Arab Emirates, South Korea and Taiwan also recorded steep declines.

Girard-Perregaux introduces the iconic Girard-Perregaux 1966 collection

Girard-Perregaux presents the Girard-Perregaux 1966 for the first time in steel in the history of the iconic 1966 collection. Geometric lines are tailored like a tuxedo, it has a particularly refined case with meticulous finishing of all the components. The clean design of the steel Girard-Perregaux extends to the opaline silvered dial featuring beveled indicators. Under the gently domed sapphire crystal, the "leaf" type hands unique to the 1966 collection mark the hours and minutes as they trace the curves of the case. The time indication elements are silver in color to create a piece which is an ode to steel. Fitted with a steel bracelet or black alligator strap.

Carl F. Bucherer presents Manero ChronoPerpetual OnlyWatch 2015

Carl F. Bucherer introduces its unique timepiece for “Only Watch 2015”: the Manero ChronoPerpetual in white gold. The date of the auction, November 2015, is embossed on the black dial in a striking red, complemented by an elegant black alligator brown leather band, pin buckle. The Manero ChronoPerpetual additionally combines the perpetual calendar with a complete chronograph. The case is domed sapphire crystal with anti-reflective coating on both sides.

de GRISOGONO announces the arrival of the CRAZY SKULL Watch

de GRISOGONO announces that one of their most incredible watch creations, CRAZY SKULL, can be admired for the first time in the Middle-East, as part of The Dubai Watch Week exhibition 2015. The case is in white gold full set with white diamonds. Dial has a black lacquered with white gold and diamonds and black diamonds. The strap is black galuchat/Clasp is white gold and diamonds. The exhibition has started from 18th and ends on 22nd October, 2015 in the Dubai Mall.

deLaCour, the art of miniature painting on mother-of-pearl dials

Miniature painting on mother-of-pearl dials and various other techniques are part deLaCour’s reputation in terms of expertise and customization. The first step is to work the subject into the elliptical dial, after validation, the subject is transferred onto the dial and then the production process can begin. To prevent the mother-of-pearl from being transparent, the basic color of each element is evenly painted. Once the work is completed, a clear lacquer is gently applied on the entire surface of the dial. Once the dial has dried, it must be leveled to reach its final thickness. Then, when required the decals, appliques and precious stones are carefully placed.

Hermès launches Faubourg Joaillerie watch for Ladies

The Faubourg Joaillerie watch encircles the wrist with a slim gold mesh adorned with a cleverly orchestrated parade of diamonds. The stones first composed a beautiful pattern on the dial before melting seamlessly into the soft curves of the case. To accentuate the feather light, airy nature of this watch turned jewel, the artisan created subtle depth effects by leaving slender interlacing gold patterns. Bracelet is white gold set with diamonds.

Parmigiani Fleurier unveils Tonda 1950 Clarity

The Tonda 1950 Clarity combines with the charm of a fully stone-set dial and rose gold plated diamond-polished appliqués. 3-part round case with rose gold. The Tonda 1950 Clarity with rose gold case is available with a bracelet with links of the same metal. Each diamond has been carefully considered in order to play its part in a spectacular ensemble, in which the dial appears domed thanks to a beguiling trompe l’œil effect.

Tissot presents the new Tissot T-Touch Expert Solar

The new Tissot T-Touch Expert Solar is coolly edgy. Adventurers will love other extras like a leather Velcro bracelet that comes with an extension, rubber or titanium strap with folding clasp and push-buttons. Antimagnetic titanium case with black PVD coating. The tactile scratch-resistant sapphire crystal with antireflective coating which is essential functions for everyday use.

Tudor presents its new addition to its signature diving watch: Heritage Black Bay

The Heritage Black Bay comes in black and exalts the original purpose of the submariner tool-watches and their use on the wrists of divers serving in some of the world’s greatest navies.  This TUDOR classic is now available in select Ahmed Seddiqi & Sons stores across the UAE.  The multiple references to the brand’s aesthetic heritage, combined with contemporary design elements such as the robust steel case with a refined finish, a coloured, anodized aluminum crown tube, as well as superbly crafted interchangeable bracelets make the TUDOR Heritage Black Bay a watch with a powerful identity that vividly embodies the brand’s renewal process.

Exhibitions & Events

Jewellery Arabia 2015 world’s most valuable guitar to make a splash

The world’s most valuable guitar will make its Middle East debut at Jewellery Arabia 2015 as part of a global tour. The CORONET® Gibson guitar has an estimated value of US$ 2 million and will be unveiled on 24 November 2015 at the Bahrain International Exhibition and Convention Centre. The fully functional musical instrument is adorned with diamonds and white gold. Brought together by legendary guitar maker Gibson Brands, Hong Kong-based founder of the CORONET® brand Aaron Shum Jewelry, and musician / artist Mark Lui. The diamond encrusted masterpiece named “Eden of CORONET®” is the most valuable guitar ever as certified by Guinness World Records in March 2015. Jewellery Arabia, now in its 24th successful year, is the largest and most prestigious jewellery exhibition in the Middle East. It takes place from 24 – 28 November 2015 under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain.

Dubai International Jewellery Week 2015

Dubai International Jewellery Week (DIJW) taking place from the 9 – 12 December at Dubai World Trade Centre, the 20th edition of Dubai International Jewellery Week is all set to showcase the very best in jewellery design, unique and elegant collections from around the world. The show will transform into a one stop shop for all women’s jewellery needs. A whole range of jewellery collections await you at the event, giving you the ideal opportunity to purchase that unique wedding, birthday or New Year gift. You will find everything from diamond jewellery collections, bridal jewellery, and designer jewellery and antiques all under one roof.

Chatila collaborates with ISTANA Jewellers to present its latest collection

ISTANA presents the latest collection from Chatila, offering their creations of exclusive, one-off designs in an exhibition which is taking place at Four Seasons Resort Dubai at Jumeirah Beach from 21st October till 24th October 2015.

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