Swiss Watch Exports declined -4%, while Middle East exports increased in some double digit figures; Saudi Arabia expected to raise 2015 expenditure; UAE Prime Minister approves $11.1bn budget for 2015

   
 
 

Market Report

 

Arnold & Son announces its partnership with Sincere Fine Watches in Singapore’s famed Orchard Road

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Arnold & Son announces its partnership with Sincere Fine Watches in Singapore’s famed Orchard Road. From winter 2014, discerning watch lovers and connoisseurs will find a dazzling array of the brand’s timepieces at the Arnold & Son corner in Sincere’s flagship store. To celebrate the new partnership, Sincere and Arnold & Son jointly hosted a VIP cocktail event at the Sincere flagship boutique in the Hilton Hotel Shopping Gallery. Guests then had an opportunity to view latest collections and try timepieces for themselves.

 
 

Market News

 

Interview with Mr. Giles English CEO of Bremont watches

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1. Bremont launched its first in house caliber BWC/01 few months ago Wright Flyer, please tell us more about this approach of in-house movements?

We are truly passionate about bringing watchmaking back to Britain in light of the huge history we have here. After much time and development we are thrilled to be launching our first proprietary movement which sees us manufacturing key movement parts in the UK. This has taken enormous investment and has seen us invest in machinery which hasn’t been bought ever across any industry in this country. The BWC/01 is a big step towards us achieving a movement that has been built in its entirety on British shores.

2. Does that mean that you are aiming on the long run at developing and manufacturing all of your movements in house?

For us it’s all about control so to not be reliant on the Swiss would be fantastic. Whilst we are making good progress in this direction we are still a very long way off this.

3. How do you describe the importance of the chronometers and chronographs functionality in mechanical watches?

A chronometer ensures a certain level of accuracy in a mechanical timepiece so it’s not only more practical but is a sign of great craftsmanship. A chronograph is a very useful timing function to have on a mechanical watch but it’s also something that appeals to some more aesthetically.

4. Ben Saunders has been a perfect brand ambassador for the Bremont watches, how do you describe this relationship with Ben?

It has been brilliant working with Ben over the past few years. He is an inspirational British explorer who has achieved something quite remarkable this year in completing Scott’s expedition to the South Pole and back. In advance of his trip we worked closely with Ben to ensure he had a reliable timepiece and navigational tool to help him complete the journey. The weight was crucial given they were pulling their own sleds so we created our first titanium watch for him, we used special oils for the movement to ensure it wouldn’t freeze in such extreme climate conditions and we added GMT functionality so that Ben could use it as a compass. In terms of our watches being ‘Tested beyond Endurance’ it really doesn’t get much better than this so it was fantastic for Ben to be testing the Terra Nova out in the field for us and we’re delighted to say it was a robust partner!

5. In which other activities does Ben Saunders promote the Bremont collections and in particular the Bremont iconic Terra Nova timepiece?

As a brand ambassador Ben has joined us for a number of events both in the UK for our Bremont Adventurer’s Club and internationally in China and the Middle East.

6. Bremont takes its pride by its British Label. How is this helping you to promote your brand worldwide?

There has always been a keen interest in ‘British Made’ internationally and certainly with regards to watchmaking people seem to appreciate what we are trying to do in reviving what was once a big industry for us over here. It is also a big point of difference to our Swiss competition.

7. How do you look at your recent association with the two strong British brands Jaguar cars and a British spirit brand?

It has been a real honour working with both Jaguar and Chivas on different projects and it was very interesting to see the synergies Bremont shared with each.

We have been associated with Jaguar for some time now; having built clocks for some of their concept cars, so making a watch with them was very much a natural progression. The way we look at mechanical watches is as engineered parts and the same can of course be said for Jaguar cars. Design Director Ian Callum is hugely respected in his own right and designing this watch in collaboration with him and in celebration of the remarkable Lightweight E-Type car has been an amazing experience for us.

8. What challenges did you and your brother face in establishing watch manufacturing facilities in England?

Everything involved in manufacturing watches is a challenge and continues to be so, finding the skills is key. To do this we have started our own apprenticeship scheme and also turned to other industries like Formula 1 to gain top engineering skills on a local level, this combined with a high level of investment is proving to be effective.
 
9. How is Bremont fairing among Watch collectors?

Bremont is increasingly becoming more of a collector’s item and we now have a number of our limited editions worth triple what we originally sold them for.

10. How do you define the target audience and market position of Bremont watches among the Swiss Labels?

We find that the demographic of our customers tends to be quite varied. This is perhaps due to the timeless nature of the watches and the fact that they are not trend driven, but also to do with the emotive nature of them. Many people really connect with certain models as a result of the stories behind them or indeed behind the brand. Our market position would really be amongst other high end pilot’s watch brands.

11. What are the key markets for the brand, and what are your future expansion plans?

The UK and US remain our biggest markets but we are rapidly expanding in China and the Middle East. We are opening a standalone store in New York in the New Year which is a big statement of intent out there to support that market and we are seeing a lot of growth in Europe.

12. In your opinion, what are the potentials of Bremont watches in the Middle East market?

I am very excited by the response we have had from the Middle Eastern market so far, there have always been strong links to the UK and I think we are genuinely offering something that is of a very high quality, exclusive and different in what is a competitive market place.

13. Will Bremont remain: A- A masculine watch brand? B- And which watch among your collection you are most proud of?

Whilst Bremont does have an offering for women it is predominantly a male watch brand which is not something we envisage changing.

After five years in development the watch of which I am the most proud would have to be the first one we ever launched, the ALT1-C range. We have also recently worked with the Wright Family on the Limited Edition Wright Flyer which is something Nick and I never dreamed would be possible so that would also be up there for me.

 

Swiss Watch Exports declined -4%, while Middle East exports increased in some double digit figures

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Swiss watch exports declined – 4% year on year to CHF 2.06 billion or US$ 2,14 billion in November 2014 when compared with the same period in 2013. While, Swiss watch exports recorded a downfall in all wrist watches across major markets such as China (-0.5%), Germany (-7.1%), France (-6.2%), Russia (-0.6%), the Middle East major markets showed a healthy continuous growth with UAE (+8.9%), Kingdom of Saudi Arabia (+10.8%), Qatar (+7.6%), Kuwait (+4.2%) according to the export figures published by the Federation of the Swiss Watch Industry FH.

 

Saudi Arabia expected to raise 2015 expenditure

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Saudi Arabia’s 2015 state budget is expected to raise spending marginally from this year’s original plan while covering a deficit due to sliding oil prices with the kingdom’s huge fiscal reserves, a Saudi newspaper reported. Projected 2015 revenues would drop to 715b riyals from 855bn riyals in the 2014 plan, leaving a deficit of 145bn riyals. Saudi Arabia will continue spending actively on major strategic projects such as housing, transport and the construction of industrial cities, the newspaper said.

 

UAE Prime Minister approves $11.1bn budget for 2015, up 9%

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The UAE Vice-President and Prime Minister and Ruler of Dubai Sheikh Mohammad Bin Rashid Al Maktoum, has approved a AED41 billion ($11.1 billion) budget for Dubai, an increase of nine percent compared to 2014. The budget for 2015 will have an operating surplus of AED3.6 billion, and will continue to stimulate economic growth, according to a statement published by news agency WAM.

 

Dubai International Airport passengers are projected to reach 78.4 million in 2015

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Dubai International announced it is set to clock up more than 71 million passengers by the end of the year and could overtake the current busiest airport in the world - Heathrow. Passenger traffic at Dubai International rose 5.7 per cent in October putting the airport on track to eclipse the 71 million passenger mark according to the latest traffic report issued by operator Dubai Airports. Dubai Airports estimate passenger numbers are projected to reach 78.4 million in 2015 and 103.5 million by 2020. The report said the sector would grow to contribute £33.9 billion ($53.1 billion) - equivalent to 37.5 per cent of GDP - by 2020. Dubai International Airport is the busiest airport in the Middle East. It served 66.4 million passengers in 2013, and is expected to host more than 100 million in 2020. Also ranked among the world's busiest airports, Dubai International has established itself as a major hub linking the West with Asia and Australasia.

 

Dh12m jewelry heist cracked in 72 hours

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Dh12 million Dubai jewellery heist masterminded in Paris was cracked within 72 hours. Dubai police said at a press conference. The jewels have been recovered and three Romanian suspects have been arrested in Dubai by Dubai Police following a sweeping investigation in the UAE and France after a Lebanese jewellery store owner was forced to hand over his cache of Diamonds, gold, certificates and bills, police said. Major General Khamis Matar Al Mazeina, Dubai Police chief, told reporters that a joint investigative team was set up French authorities as well as Interpol co-ordinating.

 
 

Company News

 

Piaget celebrates the launch of its record-breaking timepiece, the Piaget Altiplano 38 mm 900P in the Middle East

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Piaget recently celebrates the launch of its record-breaking timepiece, the Piaget Altiplano 38 mm 900P in Dubai. Some perfect moments were marked as the timepiece was launched amidst an intimate dinner that took place at the Upper Terrace of the Traiteur restaurant at the Park Hyatt hotel and was graced by select VIP guests and friends of Piaget. Against the beautiful backdrop of the vivid Dubai skyline, guests were shown the movie about the timepiece and how it attained the record for ‘Thinnest mechanical watch of the World’ thereby giving Piaget the title of ‘The Master of the ultra-thin.’

 

Amir Khan brags expensive Post-Fight Treat - A DeLaCour Watch

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Amir Khan's bunker defeated Devon Alexander in a one-sided unanimous decision in Las Vegas on Dec. 13. The Bolton-born boxer showed off his DeLaCour watch worth $110,000. Khan's victory over Alexander put him in a leading spot to have a shot at Mayweather's perfect record. Mayweather has recently challenged Manny Pacquiao for a May 2 showdown.

 
 

Product Launch

 

Icelink presents new Ceramic bracelets with Diamonds

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Icelink’s new Ceramic bracelets with diamonds now available at ISTANA, the renowned multi-brand jewellery retailer in the UAE. Fashioned from 316L stainless steel, these dynamic ‘wristractions’ feature five rows of intricate, black ceramic,  rectangular links and diamonds to offer an irresistible accessory for year-end festivity.  The Los Angeles-based jeweller’s Ceramic collection was inspired by the magical emotion of Love. It draws an amazing similarity between the two diverse realms.

 
 
 
 

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