Market News

Prada to target Gulf States

Prada plans to focus its next retail push on the Middle East and the Americas to offset lower spending in Europe and lessen its reliance on Asia. Thomas Chauvet, luxury analyst at Citi, said core earnings and margins were slightly below their expectations, despite a boost to margins through a reduced discount sales period and better distribution control. Prada’s net profit in the fourth quarter grew 36 per cent to € 217 million (Dh1, 035, $ 279 million). “Our major focus will be on the Gulf area, South America and US department stores,” Bertelli said. Prada enjoys 11 outlets in the Middle East.

Dh220m gold refinery to be built in Dubai

Kaloti Group, one of the world's largest gold and precious metals refiners and trading houses announced this month the ground breaking ceremony for one of the world's largest gold and precious metal refineries in the Jumeirah Lakes Towers Free Zone. The refinery is expected to be completed in late 2014; with a built up over 15,000 sq metres and it will cost $60m (Dh220m). Expected capacity up to 1,400 tonnes of gold and 600 tons of silver and other precious metals and a mint department to produce gold ingots and coins.

Angelina Jolie and Robert Procop to build charity schools

The actress designed the line with her longtime jeweler, Robert Procop. According to a statement from Procop’s reps, “Both Ms. Jolie and Mr. Procop have made the passionate commitment to donate 100% of the profits from the Style of Jolie collection to the “The Education Partnership for Children of Conflict”.

Company News

Jaeger-LeCoultre ambassador Clare Milford Haven took part at the British Polo Day- Abu Dhabi

Clare Milford Haven played for the ‘British Exiles’ team at the British Polo Day in Abu Dhabi, which was held at the private royal club of His Highness Sheikh Falah Bin Zayed Al Nahyan. Jaeger-LeCoultre is the Official Timekeeper of the British Polo Day and donated a personalised Reverso to support the auction to raise funds for British Charity Help for Heroes and the Women and Health Alliance International (WAHA), the charity set up by Her Highness Sheikha Shamsa bint Hamdan Al-Nahyan.

Montegrappa supported the Noble Gift Gala

Montegrappa has supported the Noble Gift Gala. The Noble Gift Gala is a platform that brings together the worlds of Business, Celebrity and Philanthropy, to raise funds for and awareness to fiscally responsible foundations, locally and internationally. The Noble Gift Gala has united forces with philanthropists, artists and people of influence, including Eva Longoria, HRH Prince Azim and HRH Princess Azemah of Brunei, Mariah Carey, Leona Lewis, Mel B and Jermaine Jackson. Montegrappa generously contributed a solid gold Chaos pen, designed by Sylvester Stallone.

Omega signs with Rory McIlroy

Omega signed Rory McIlroy as their new ambassador. The popular golfer from Northern Ireland has entered into an agreement with OMEGA that will make him part of a roster of ambassadors featuring many current golf stars.

Blancpain supports the GOMBESSA Project

The globally renowned diver and naturalist Laurent Ballesta, equipped with a Blancpain Fifty Fathoms timepiece on his wrist and accompanied by specially trained divers and researchers from the South African Institute for Aquatic Biodiversity SAIAB, together with ten scientists from the Museum of National History and from CNRS, the French National Research Institute, all left for South Africa to undergo 40 days of deep water diving to meet with legendary bottom-dwelling sea creature, the coelacanth.

RJ- Romain Jerome supports make a wish Foundation in Switzerland

RJ-Romain Jerome decided to support Make-A-Wish Foundation of Switzerland and Liechtenstein. This year, RJ has decided to donate the equivalent of the amount generally allocated to gifts during the Baselworld watch fair to Make-A-Wish Switzerland.

Roger Dubuis – Quote for Dubai Expo 2020

For Roger Dubuis, Dubai is a logical choice as host city for the World Expo. “The World Expo has been hosted through the years by international cities that have made their mark on the international stage. Dubai is a truly cosmopolitan metropolis in every way, a business and cultural hub for the entire region, and can boast of some of the best infrastructure and facilities in the region. All these are factors, in addition to a stable political environment, make it one of the preferred destinations for international events of a global scale”. Said Jean -Sebastien Berland, Regional Brand Director, Middle East and India

Paris Gallery CEO gives keynote address at “Emirates NBD Global Business Series”

The Paris Gallery Group of Companies and Chief Executive Officer Mohammed Abdul Rahim Al Fahim delivered the keynote address at the recently held “Emirates NBD Global Business Series,” a series of networking sessions sponsored by Emirates NBD. Mohammed Abdul Rahim Al Fahim shared his insights with the wide audience of SME owners and entrepreneurs.

Robert Pattinson gives Kristen Stewart a birthday present

The “Twilight” star Robert Pattinson confirmed that his relationship with girlfriend Kristen Stewart is very-much-on-again: he presented her with a perfect gift for her 23rd birthday – a Tibaldi fountain pen that she can keep with her at all times. Tibaldi fountain pen needs a companion; the company will be launching the new Bentley Flying Spur pen collection at Baselworld watch and jewellery exhibition from 25th April to 2nd May.

Cvstos at Top Marques of Monaco 2013

Cvstos will take part in the Top Marques Monaco which celebrates this years 10th anniversary. From 18th to 21st April 2013 the exhibition showcases some fine pieces of machinery, brings together the cream of the automotive, watchmaking and boating industries on the rock of Monaco.

Product Launch

Alain Philippe launched the Clio collection

Alain Philippe revealed its Clio collection, the new Swiss Made watch is white or yellow gold set case with white diamond and genuine leather strap.

Glam Rock to launch the Bal Harbour watch collection at Baselworld

Glam Rock will introduce its new ladies collection, Bal Harbour. Glam Rock further offers the option of perforated leather bands with the most trendy flower designs. Some dials will display special 3D flower appliqués and others can be found splashed with diamonds.

Hermès introduces the new Arceau Pocket Volutes

La Montre Hermès turns the spotlight on goldsmithing with its new and unique piece the Arceau Pocket Volutes an exquisite pocket watch graced with a cover. On the dial side, the Arceau Pocket Volutes highlights another emblematic skill: grand feu enamelling. The volutes or scrolling pattern adorning the cover of this pocket watch goes back to the origins of the Maison Hermès, and testifies to the Maison’s determination to perpetuate skills that have become a rarity today.

Pomellato's reveals its New Veleno Rings

The veleno rings are rounded with cabochon stone at the heart of each ring evokes a transparent drop of magical elixir, seductive and irresistible. Four pointed, gothic prongs hold each softly contoured solitaire aloft, a feat of remarkable precision that maximizes the impact of the streamlined design. Veleno rings exist in three gemstones, each possessing an entrancing, opalescent glow: white quartz, pink quartz and amethyst.

Richard Mille is the Official Timekeeper of Polo Club Saint Tropez

Richard Mille will be the Official Timekeeper to the Saint-Tropez Polo Club. As partner of the Richard Mille team Pablo will wear the RM 053 Tourbillon.

York to reveal its "Royal Black Caviar" Watch at Baselworld 2013

York will be unveiling its latest addition "Royal Black Caviar" Watch; the first Royal Black Caviar will be on display April 25th at Baselworld. Royal Black Caviar’s case of 44 mm diameter is topped by a bezel set with 53 black diamonds and 5 black diamonds on the crown. The watch consists of black enamel on sterling silver with indices and sapphire crystal double-sided. The mechanical manual winding movement SW 07 is sophisticatedly skeletonised and finished with 17 jewels and engraved by hand.

Exhibitions & Events

Patek Philippe sells for $ 794,500 in Antiquorum Auction in New York

Antiquorum's April 10th auction of "Important Modern & Vintage Timepieces” totaled $ 4,033,550. Bidders participated from across the world including Hong Kong, Singapore, Lebanon, Italy, Switzerland as well as the United States. From the property of an American collector, the highly anticipated Patek Philippe Ref. 1518 Perpetual Calendar Chronograph (lot 99) stirred exceptional excitement in the auction room, on the phones, as well as on the internet. After several minutes of intense bidding, the outstanding timepiece sold for an impressive $794,500.

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