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Swiss watch exports drop by 67.9% in May 2020; Patek Philippe announces the completion of its new production building in Geneva and launches a limited-edition timepiece
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Market News
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Swiss watch exports drop by 67.9% in May 2020
Following the very steep decline in April (-81.3%), Swiss watch exports continued to slow down in May. The value of exports was 655.6 million francs, a fall of 67.9% compared with May 2019. Overall, exports have fallen by 35.8% over the first five months of the year. Performance was similar across all the main groups of materials but in volume terms, the other materials category fell by more than the average. In total, the sector exported 1.3 million fewer items compared with May 2019. The performance of the main markets fell by more than half compared with a year ago, across the board. The United States (-79.2%), Japan (-74.2%), France (-76.7%), Singapore (-74.8%) and the United Kingdom (-76.7%) were among the countries that fell by more than the average. While China (-54.6%) outperformed other countries for the second month in a row, it did not stand out to the same extent as in April and recorded a sharp decline. It seems that the recovery in this market is not yet a given.
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Patek Philippe announces the completion of its new production building in Geneva and launches a limited-edition timepiece
Beginning of 2020, the manufacture completed the construction work that had started in 2015 and initiated production activities in its new building on the outskirts of the city of Geneva. The highly modern architecture of this structure can unite all of the manufacture’s Genevan ateliers under one roof, a great advantage given the growing complexity of production operations. Moreover, it offers ample space for the rare handcrafts professionals and for basic and advanced training of the employees. The new building reasserts Patek Philippe’s Genevan roots and its confidence in the future of watchmaking artistry that perfectly melds tradition and innovation. The completion of the structure is being celebrated with the launch of a commemorative watch: The Ref. 6007 Calatrava in steel stands out with an exclusive design concept and will be crafted in a limited edition of 1000 pieces.
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Sotheby’s Dubai joins forces with the UAE’s Community of Leading Galleries for a Global Online Auction
Marking the inaugural online sale by an international auction house in the Middle East, This Too Shall Pass brings together sixty works from seven of Dubai’s leading art galleries in a project that is the first of its kind. The sale will offer works by established artists already represented in institutions worldwide alongside rising stars who are starting to make a name for themselves internationally. In line with the UAE’s cultural mission, the selection will promote artists from the Emirates and beyond to a new generation of art lovers around the world. Viewed together, the works in the auction will open a window into the boundless cultural landscape of the region, for collectors at home and across the globe. The auction is open for bidding from 18 – 25 June, with 10% of the galleries’ proceeds to be donated to the United Nations High Commissioner for Refugees (UNHCR)’s response to the pandemic’s impact on refugee families and children across twenty countries in the MENA region.
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Dubai Diamond Exchange reopens
The Dubai Diamond Exchange, DDE, is open for business and ready to host regular activities, including tenders, in line with the easing of restrictions across the Emirate. In a statement, DDE said the facility where it is located, DMCC (the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise), "has implemented all the latest health and safety guidelines and protocols issued by the UAE government and health authorities. Social distancing measures alongside regular disinfection procedures are in place to guarantee a safe experience for employees and visitors alike."
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Company News
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Louvre Abu Dhabi reopens to the public on 24 June
Tickets can now be purchased on Louvre Abu Dhabi’s website ahead of the museum’s reopening on 24 June. Visitors will once again be able to experience Louvre Abu Dhabi’s world-class collection and view the latest international exhibition, Furusiyya: The Art of Chivalry between East and West, reopening on 1 July and extended to 18 October 2020. Louvre Abu Dhabi is also pleased to now offer free admission tickets to visitors under the age of 18 as part of the museum’s mission to further engage younger audiences and families.
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Doyen of Indian Diamond Industry Arun R. Mehta Passes Away
It is with profound sadness to inform you about the passing away of Arun R Mehta. Arunbhai, an industry stalwart and highly respected community leader was a guiding force and mentor to many. The history of the Indian diamond industry would have been different without Arunbhai’s key contributions. His participation and efforts in a number of trade organisations contributed immensely to the growth of the whole industry. He was a member of the Managing Committee of the Bharat Diamond Bourse for a long period. He was also associated with the Bombay (now Mumbai) Diamond Merchants Association and a member of the Working Committee of The Gem & Jewellery Export Promotion Council for over 20 years.
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Product Launch
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Glashütte Original launches Senator Cosmopolite in midnight blue
Genuine globetrotters know only too well how valuable visibility can be since night flights in darkened airplanes are as much a part of their life as sleepless nights after landing on another continent. To address this point, the watchmakers at Glashütte Original and their colleagues at the inhouse dial manufactory in Pforzheim have optimised the legibility of the Senator Cosmopolite's dial visuals. Even by daylight, the new, sword-shaped hour and minute hands are clearly set off from the galvanic, midnight blue dial with its sunray finish. Equally easy to read are the numerals, details and lettering printed in white on the different displays. The twelve characteristic rod index appliques complete the highcontrast design. This exquisite timepiece reveals all its radiance under conditions of low light.
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Bell & Ross presents BR 05 Skeleton blue
The BR 05 belongs to the family of watches with an integrated bracelet: the bracelet fuses with the case to create a unified piece. The new BR05 SKELETON BLUE adorns the challenge of transparency. Reflecting the finest Haute Horlogerie craftsmanship, this new skeleton version – dressed in blue – highlights the architectural modern design of Bell & Ross’ latest urban collection. The satin-finished surfaces are perfectly flat. The polished bevels emphasize and enhance the volumes they contain. Particular attention has been paid to the arch of the curve, allowing all the components to be perfectly aligned and ensuring the bracelet can adapt seamlessly to any wrist. The blue-tinted transparent dial features metal appliqué indices and forms a clear window through which the skeleton movement can be admired. Lovers of mechanical craftsmanship will be seduced by this limited edition of 500 pieces.
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Bremont introduces the new Limited Edition Battle of Britain Box Set
As a tribute to the anniversary of the Battle of Britain, Bremont has created a rather special box set containing two timepieces in its honour. Included with each box set is an incredible opportunity for the customer to fly in a Spitfire which fought in the major air campaign in 1940. Only 80 Battle of Britain sets will be produced. The limited run of box sets each comprises a pair of watches inspired by the two iconic aircraft that defended the nation, the Spitfire and the Hurricane. Paying homage to Bremont’s first historic limited edition, the EP120, the dial design of the chronograph is inspired by the Smiths clocks that can be found in the Spitfires that flew during the Battle of Britain. The ‘Bremont BOB Spitfire’ has a closed case back featuring a beautifully stamped top profile of the aircraft from which it draws inspiration, namely the Supermarine Spitfire, the most widely produced and strategically important British single-seat fighter of World War II.
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Linde Werdelin releases 3 Timer Nord
The ultimate traveller's watch, the 3 Timer Nord is inspired by the changing colours of the North Sea and features two new elements, a nostalgic blue fume dial, and a sand-blasted case, both firsts for this series. Taking its name from the darkest ocean waters, the black to blue fumé dial is the centrepiece, a feature reflective of classic timepieces, but paired with a modern, highly technical and edgy sand-blasted case. Transitioning from darkness to light, the Nord reveals itself to a brighter world. The perfect piece to accompany explorations to the mountains or the seas and to re-discover the freedom of nature, after a period of containment. Accompanied by a midnight blue rubber strap, the Nord has the versatility to work equally well with a steel bracelet or textured strap. The Nord adapts to your idea of adventure.
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