Market Report

Greubel Forsey: Ahead of time

Greubel Forsey is the latest feather in the Swiss industry’s cap, thanks to its invention of watches with two and four tourbillon mechanisms in the same watch case. In October, it also won the first prize at the International Chronometry Competition held at Museum of Horology in Le Locle (Switzerland) with Double Tourbillon 30° Technique. Arabian Watches & Jewellery Magazine speaks to Greubel Forsey Chief Executive Officer Emmanuel Vuille to discuss participation in the Salon International de la Haute Horlogerie (SIHH) and also the launch of ‘star’ novelties at the exhibition. Vuille reveals that there is a return to classic, to a more discrete, refined and authentic watch-making over the past couple of years. “We are confident that 2012 also can be in line with the past year, even if the economic situation is not completely positive worldwide,” says Vuille. Below are the excerpts from the interview:

What kind of impact will SIHH have on a premium brand such as yours in the Middle East?

The SIHH is one of the most important exhibitions for high-end watches that include prestigious brands and we are glad to be part of it. It’s a very well-organized exhibition which allows us to work in a pleasant environment being in contact with selective distributors and retailers in the world, as well as press, including of course the major representatives of Middle East. Participation is a good opportunity to promote and increase our creations and brand awareness in your country and worldwide.

What are your expectations at SIHH 2012?

2011 was a good year for Greubel Forsey. We are confident that 2012 also can be in line with the past year, even if the economic situation is not completely positive worldwide. We are prudently optimistic as our product is directed to a niche of high-end market where clients are more resilient to the actual economic crisis.

What are the foreseen trends and directions with watches in 2012? Any particular trends that your brand will showcase?

In the last 2-3 years, there was a return to classic, to a more discrete, refined and authentic watch-making.  All these values are in the DNA of Greubel Forsey. In all our creations, there is a great attention to the reliability of our movements, to the refined and original aesthetics, to the excellence in finishing, to the quest for perfection.

About reliability, we are proud of the first prize won at the International Chronometry Competition held at Museum of Horology in Le Locle (Switzerland) with our Double Tourbillon 30° Technique last October. This watch scored 915 points from a possible 1,000 and took the first place both in the tourbillon category and the overall competition. This prize is an independent validation of our inventions.

What are your ‘star’ novelties for the SIHH?

One of our novelties is the GMT, which we started unveiling in November. It’s the first timepiece by Greubel Forsey with a new complication: the GMT function, featuring a 24 second tourbillon, one of our identifying codes. It is distinguished by an eye-catching rotating globe offering an intuitive view of the time all over the world. It displays also winter and summer time in 24 cities on a disc and provides 72 hours power reserve. We have also other interesting novelties but you will discover them at the opening of the SIHH.

When would we expect the SIHH novelties to be available at boutiques and POS in the Middle East?

We need a long time to produce components in house; to decorate the smallest pieces inside and outside of the watch; and to assemble the movements to test and validate them before delivering the pieces. So our novelties could be delivered to the points of sale between May and August with the exception of the GMT which will be at disposal between January and February.

Which of your watch models are the most popular in the Middle East? And Why?

We are specialized in complicated timepieces with innovative tourbillons, especially developed for wristwatches with the aim to improve the timekeeping precision. From the Double Tourbillon 30°, to the Tourbillon 24 Seconds, to the Double Tourbillon 30° Technique, to the Invention Pieces  limited collections till the Quadruple, we have always found passionate collectors in your country who appreciate the exclusivity and the quality,  the reliability and the excellent finishing of our watches.

What challenges are you facing as a watchmaker under the current economic circumstances?

Greubel Forsey, as a watch manufacture, has the privilege to be driven by Robert Greubel and Stephen Forsey, the two very talented watch makers. The deeper knowledge they have of the tradition of the art of watch making is an important source of inspiration to push further and to innovate both in the mechanics and in the aesthetics. They will continue to work in order to develop new innovative calibres as well as to offer us a more contemporary way of displaying the time, where art and functionality come together perfectly.

Power of Parmigiani

Parmigiani Fleurier is a Swiss brand of luxury watchmakers founded in 1976. All Parmigiani watches are hand-crafted and can take two years to complete. In order to create exclusivity, only a few thousand pieces are produced every year. Parmigiani will participate in the 22^nd edition of Salon International de la Haute Horlogerie (SIHH) which will be held from January 16 to January 22 in Geneva, Switzerland. Below is Q&A interview about Parmigiani’s plan for SIHH.

What kind of impact does SIHH have on a premium brand such as Parmigiani in the Middle East?

The impact is huge as more important journalists and selected clients are present at this fair.

What are expectations from SIHH 2012?

It’s very important – just like 2012 is an important year for the brand.

What are the foreseen trends and directions with watches in 2012? Any particular trends that brand is particularly keen on in terms of movement and or designs?

The movement tends to be easier and flatter. The designs are more and more elegant and purer.

What are your “star” novelties for the SIHH?

It’s Tonda Retrograde Annual Calendar

When would we expect SIHH novelties to be available at boutiques and POS in the Middle East?

They will be available at boutiques in March 2012.

Which of your watch models is the most popular in the Middle East? And Why?

Tonda Hémisphère because people from the Middle East travel a lot and this watch is really precise and very convenient.

What are the challenges that you are facing as watchmaker?

The challenge is to implement a young brand into this competitive market.

Richard Mille: Truly luxurious

Richard Mille plans to launch several ‘star’ novelties and a large number of amazing pieces at the Salon International de la Haute Horlogerie (SIHH) in Geneva. Actually, we will be presenting a large number of amazing pieces. Despite the tough global economic circumstances, Richard Mille has even noted increased sales once more in 2011. Richard Mille’s masterpieces launched at SIHH will be introduced in the Middle East during spring, reveals its President Mr. Richard Mille. Arabian Watches & Jewellery Magazine catches up with the President to ascertain plans for the SIHH. Below are excerpts from the interview:

What are your expectations for SIHH 2012?

I have big expectations having seen the reactions from clients who have previewed the new collection so far. So, we hope 2012 will be, as 2011, another year of growth!

What are the foreseen trends and directions with watches in 2012? Any particular trends that your brand is particular keen on in terms of movement and or designs?

The accent is on several extremely performing and highly technical new models. It is very exciting for me to present them at the SIHH. There are also a number of very high-end and limited editions this year, and of course our first in house designed movement. For the rest I don’t follow trends; I prefer to create them!

What are your ‘star’ novelties for the SIHH?

We will not have one but several star novelties for the SIHH. Actually, we will be presenting a large number of amazing pieces.

When would we expect the SIHH novelties to be available in the Middle East?

I launch many new models each year and I had to face certain delivery problems but that can happen in our business. The development phase then follows its course and producing the movements can be a very long process because the SIHH novelties like the other watches of the collection are very complex and very difficult to realize. Ensuring a reliable product also takes time. But we always get there in the end! I think the first new pieces will be delivered around spring.

Which of your watch models are the most popular in the Middle East? And why?

Basically, all our models are doing well in the Middle East. However there is perhaps more interest for jewellery pieces than elsewhere in the world.

What are the challenges that you are facing as watch makers under the global and regional economic circumstances?

For the moment, we have not had any direct problems with that situation. In fact, we have even noted increased sales once more against expectations. The thirst of clients for something really new, different, technical, innovative … from all the rest is what fuels our markets. I also believe that the price positioning of my watches perhaps frees us from those issues because they are true luxury products in every aspect.

Market News

Luxury Retail scored 18 percent growth in 2011 in the Dubai

In a recent interview, Patrick Chalhoub the CEO of Chalhoub group stated that the luxury retail growth in Dubai has recorded between 12 to 18 percent growth during 2011 compared 8 to 10 percent in other international markets. According to Chalhoub, the emirates of Dubai have secured a double digit growth in its luxury retail by passing many international markets. This is due to the vibrant market, the diversification of the influx of tourism into the emirates mainly from China, European countries and other Arab and GCC states.

Tiffany set to expand in United Arab Emirates

Tiffany & Co. announced that it has signed a memorandum of understanding to enter into a strategic joint venture with Damas Jewellery, a company incorporated under the laws of Dubai, related to the operation of Tiffany & Co. retail stores in the United Arab Emirates. Under the memorandum of understanding which covers five Tiffany & Co. stores (three in Dubai and two in Abu Dhabi) as well as future store expansion, Tiffany will be responsible for merchandise assortment and pricing, advertising and promotional activities, staffing, store design and visual display and financial services. The joint venture is expected to begin operating in the second quarter of 2012.

DSF promotions and tourism inflow help retailers boost sales

Combination of DSF promotions and tourist numbers are playing big role in boosting Dubai's retail industry. According to the Dubai Events and Promotions Establishment (DEPE), retail, travel and hospitality spending in 2011 in Dubai contributed a total of Dh15.1 billion to the UAE economy. Of that, DEPE figures show that Dh5.9 billion was spent by regional and international visitors. According to Leila Suhail, CEO of DEPE, 4 million visits were made to the festival in 2011. Out of that, 884,660 were regional and international visitors coming mostly from India, the United Kingdom and Saudi Arabia. In addition, hotels that are located next to shopping malls are enjoying a boost in occupancy as shoppers flock to the malls.

What could be the next Apple Computer product?

Rumors about Apple Computer launching an iWatch have been around for a few years. The speculation began around the time of the iPod Nano launch and when third party manufacturers designed plastic watchbands to hold the Nano. When resting, the Nano’s screen displays time as a watch face, so some people believed the Nano was made to be strapped to a wristband. Steve Jobs is said to have alluded to the ‘watchband Nano’ when it was launched. However, speculation about a wristwatch has increased in recent weeks with the suggestion that Apple will launch an iWatch in 2012. An entire industry has spawned from speculation about Apple’s future developments, and some believe that Apple, and Google, have been secretly working on ‘wearable computers’.

Company News

Longines presents the 2012 His Highness Sheikh Mohammad Bin Rashid Al Maktoum Endurance Cup

The elegance of Longines was discernible at the elite His Highness Sheikh Mohammad Bin Rashid Al Maktoum Endurance cup that was held on14th January 2012. In its fifth year, the prestigious Cup was organized and hosted by the Dubai Equestrian Club and presented by Longines, the official timekeeper for all equestrian events at Meydan Group, subsequent to their latest partnership. The winner of the cup, 17 year old Abdulla Ghanim Al Marri of the UAE, was awarded the beautiful Longines Column-Wheel Chronograph Gold timepiece, a true epitome of precision and might, much like the Endurance cup itself. Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, who last month successfully guided the UAE Endurance team to a thrilling Gold Medal Victory at the Pan Arab games in Qatar was among the participating riders. His Highness Sheikh Mohammad Bin Rashid Al Maktoum, the UAE Vice President, Prime Minister and Ruler of Dubai, graced the occasion from start to finish, mingling with the visitors and eventually bestowing the winners with their accolades.

Mouawad presents the Mouawad offshore powerboat racing team

Mouawad announced a one year sponsorship deal with four-time offshore powerboat world champion, Mr. Omar Danial. The announcement was made by the company’s Co-Guardians, Mr. Fred Mouawad and Mr. Pascal Mouawad, during an official press conference that took place at the Dubai International Marine Club in Dubai. The press conference was also an opportunity to give a preview of the new Mouawad watch line – the Grand Ellipse – a collection of luxury timepieces born from the long expertise that the Mouawad family has in the art of watch-making. The Mouawad Offshore Powerboat is competing in the 2012 XCAT Middle East Powerboat Series that kicked off last weekend with the Dubai Grand Prix, and the Mouawad team successfully started the new season off the shores of the Dubai International Marine Club, with a third place podium position. 

Audemars Piguet celebrates 40 years of the Iconic Royal Oak Model

Audemars Piguet has celebrated the beginning of its Royal Oak anniversary year with an evening dedicated to its origins and long tradition in fine watchmaking. On 17th January 2012, guests of the AP Night were immersed in the birthplace of Audemars Piguet, the Vallee de Joux in Switzerland where they were able to feel how the very early watchmakers were living during the winter and autumn seasons. The evening was divided into three parts: the cocktail, dinner and live performances. Audemars Piguet CEO Mr Philippe Merk and Mrs Jasmine Audemars, President of the Board of Directors, commenced their speech by thanking everyone for supporting the brand throughout the years and paid tribute to the late Gerald Genta.

Global Premiere Unveiling of the Limited Hublot King Power Diego Maradona Watch

On 17^th January, Diego Maradona, the brand ambassador of Hublot, the legendary king of football for the first time takes the “Hublot One Million RMB Goal Shooting” Charity Challenge on The Bund in Shanghai, China. In the beautiful scenery of LuJiaZui and the Bund, Maradona has challenged the eight different values of targets. Joining forces with Maradona, Hublot will generously donate the total fund of corresponding successful shootings to support the Children aid program in China. To celebrate the grand event, the second generation of Hublot Maradona limited edition – The King Power Maradona – in a limited edition of just 500 pieces was globally launched by Diego Maradona. Bearing the symbolic 10 and Maradona’s signature on the dial, Hublot has developed a special King Power equipped with a chronograph movement distinguished by two centre chrono hands.

Cartier at the 69th Annual Golden Globes Awards

On 15 January 2012, Cartier dressed some celebrities at the 69th Annual Golden Globes Awards at the Beverly Hilton in Beverly Hills, CA. Nominee Charlize Theron wore a Cartier Collection bandeau of platinum and round-old-cut and rose-cut diamonds from 1920, a Cartier Collection fleurettes clip-brooch of platinum, gold, and round-cut and baguette- cut diamonds from 1951, a Cartier platinum and diamond ring (main stone 13.48 carats) and Cartier white gold and diamond stud earrings. Mila Kunis wore Cartier white gold and diamond leger earrings and a Cartier Caresse d’orchidees white gold and diamond ring. Emma  Stone wore a Cartier black satin and python box clutch. The clutch is part of a pre-collection will launch later this year. 

Chopard partners with the Weinstein Company for a star studded evening at the Golden Globes viewing and after party

On January 15^th, Chopard celebrated the latest collaboration with the world of cinema. Chopard will be the official partner of The Weinstein Company major 2012 events in connection with the most prestigious international awards ceremonies and film festivals. The collaboration started with an exclusive party held at the Beverly Hilton Hotel for the Golden Globe Awards, and will be followed by parties for the Academy Awards (t) the BAFTAs and the Cannes and Venice Film Festivals. Berenice Bejo, Penelope Ann Miller, Jane Fonda were some of the guests who sparkled in Chopard.

Harry Winston sponsors V&A Hollywood Costume Exhibition

Harry Winston Inc. has announced its partnership with the Victoria and Albert Museum, as lead sponsor of Hollywood Costume, a major new exhibition that will run at the V&A in London from 20th October 2012 - 27th January 2013. Hollywood Costume is a groundbreaking exhibition celebrating costume design for motion pictures as a vibrant modern art form and a key component of cinema storytelling. It will gather together some of the most beloved and iconic costumes from over 100 years of cinematic history including the Silent era, Golden Age of Hollywood, and modern digital productions. The exhibition will explore the art of costume design - from the glamorous to the very subtle - as an essential way of building character and storytelling.

SARTORO Dazzles Moscow with new Flagship Boutique

SARTORO has launched a flagship Moscow boutique which radiates class, sophistication, geometric architecture, elevated retailing and blush red moods amongst the shimmer of diamonds, and displays a dazzling collection of jewellery designed and purposely made for the new venue. SARTORO brand founder Arto Artinian, conceived the concept and the quality standards of the new boutique, together with his brother and brand Creative Director Saro Artinian and with the feminine touches of his sister and Brand Persona Maral Artinian. The SARTORO Moscow boutique is characterized as a social venue for luxury socialites, where elegant jewellery, urban sophistication, craftsmanship and new world interiors blend, in a uniquely SARTORO way.

Montegrappa Welcomes 2012

During this period of reflection, Montegrappa acknowledge how the Number 12 looms large in the story of the brand. The company was founded in 1912, and that number has been incorporated into their logo, into a line of pens, into their ethos. And so it is, with both humility and reverence the company enters 2012 – the year of their centenary. Significantly, 2012 is the Year of the Dragon – both for the Chinese calendar and for the rebirth of one of the brand’s most beloved pens. Coincidence upon coincidence: 1912 was also the year that Imperial China was abolished. The Dragon was the symbol of the last Emperor of China. The importance of the Number “12”, of the Dragon itself – such forces and influences have come together to mark what shall prove to be a most momentous period for Italy’s oldest manufacturer of artisan-quality writing implements.

Product Launch

Glam Rock watches launch at Damas

Glam Rock watches, are set to hit shores in January 2012, and will be available exclusively at Damas stores around the UAE. The hotly sought after timepieces, which have garnered a huge following around the world by celebrities and the fashion set, are set to take the Middle East by storm in all their various guises and options. The Miami, Glam Rock’s iconic style is the standard bearer for the brand, with the SoBe, named after South beach, the Aquatonic, the Smalto, and all the other ranges available right here in the UAE. Ranging from chunky rubber timepieces to gold and diamond studded ones; there is something for everyone, male or female.

Ulysse Nardin introduces Blue Toro

This high tech perpetual calendar with a dual time function and the legendary in-house developed and manufactured self-winding movement is the most consumer friendly perpetual calendar ever produced and has passed the tests of time.  The striking aesthetic of Blue Toro combines modern materials with a timeless dial design that inspired its name.  The bezel and pushers are made in ceramic. The squeletted hands permit easy reading of all calendar functions and the sapphire caseback allows to observe the mechanics of time.  Limited to 99 pieces, “Blue Toro” Limited Edition is available in Ulysse Nardin Boutiques, exclusively.

Folli Follie unveils its winter 2012 watch collection in UAE

Folli Follie has launched its winter 201 2 collection in the UAE. The seven new collections come in unique designs and different colors that offer a wide variety to choose from. The Beautime watch collection is available in stainless steel or rose gold plated stainless steel case with crystal stones, silver or black dial with baguette stones and combined with brown, white or black silky touch leather strap. The Pulse and Glow collection comes in rose gold with chocolate brown. The Pyramid collection come in smaller sized polished bangle watches in stainless steel, black or rose gold colour plating. The Day Dream collection is available in two sizes, with small or big case decorated with crystal stones. Donatella watch collection is in stainless steel or rose gold plated stainless steel case. The Purity watch collection takes inspiration from Harmony and Light. Lastly, two new styles supplement the Pearlious watch collection.

Swarovski to present its first collection of Men’s watches at Baselworld 2012

After launching its first collection of men’s jewelry and accessories in 2010, Swarovski will launch a collection of watches entirely for men. The “Piazza Grande” for men is inspired by the bestselling “Piazza”, which was introduced when the first Swarovski watch collection was launched at Baselworld 2009.  This distinctive watch, with its large 42 mm diameter, exemplifies purity of line. Within the classic ring of the watch dial, the rose-gold hand-applied Swarovski Swan Logo mark takes its place at the top of the dial. Each hour marker carries more than one crystal, except at 12 o’clock. The hand-applied index markers are set off by a discreet Jet Hematite crystal at each hour marker, and punctuated at six o’clock with an indicator that displays the date with perfect clarity.

Exhibitions & Events

HKTDC Hong Kong International Jewellery Show 2012

The global jewellery industry is in the final stages of preparation for a major trade event, HKTDC Hong Kong International Jewellery Show 2012. The Asia’s largest Spring Jewellery Show has secured earlier dates – 16 to 20 February at the world-class Hong Kong Convention & Exhibition Centre. The five-day trade event will host some 3,000 exhibitors from 46 countries & regions. As well as being an important trading platform, the Hong Kong International Jewellery Show will hold a series of seminars and parades during the fair, to disseminate market intelligence on topics such as the "Outlook for Gold in Emerging Markets” and inspire buyers with showpieces on live models.

Celebrity News

Jessica Chastain in Harry Winston

Jessica Chastain adds a dash of sparkle wearing Harry Winston diamonds to her appearance on the Late Show with David Letterman and the New York City Premiere of “Coriolanus” on 17^th January 2012.  The stunning actress recently hit the red carpet circuit favoring Harry Winston jewels to the 69th Annual Golden Globes, the National Board of Review of Motion Pictures Awards Ceremony and the 2011 New York Film Critics Circle Awards. Jessica wore Diamond & Platinum Sunflower Earrings and Diamond & Platinum Marquesa Ring.

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