Market News

Swatch announces Double Digit increase in Sales, Profit in H1

The Swatch Group reported record of double digit increase with gross sales of CHF 3.36 billion ($4.1 billion) in the first half of 2011. Watch and jewelry sales soared despite production bottlenecks. Gross sales exceed the record half year 2010 by 24.2 percent at constant rates and 11.4 percent at current rates. Sales in the Watches and Jewelry segment grew 27.4 percent at constant rates or 13.3 percent at current rates, to CHF 2.91 billion ($3.55 billion). Net income of CHF 579 million ($704.8 million) is a 24.5 percent increase versus the record half year 2010, representing 18.2 percent of net sales. The company said a strongly overvalued Swiss franc negatively impacted sales by CHF 387 million at 2010 rates.

LVMH Watch and Jewelry Sales +30 percent in 1H 2011

LVMH reported that sales for the watches and jewelry segment improved 30 percent year on year to $835 million (EUR 576 million), during the first half of fiscal 2011. Total sales for LVMH increased 13 percent to $15 billion (EUR 10.3 billion).  Profit from recurring operations increased by 22 percent year on year to $3.2 billion (EUR 2.2 billion) and group share of net profit rose 25 percent to $1.9 billion (EUR 1.3 billion). The LVMH Group continued to enjoy sustained growth in the U.S., Europe and Asia.

Bulgari posts 24 percent increase in 1H sales

The Bulgari Group saw 24 percent sales increase in the first half of the year, including significant gains in watches and jewelry. According to results released by the Italian jewelry house, sales in the first half of 2011 were $795 million, as compared to $643 million in the first half of 2010. Net profit was $13.2 million, a strong recovery compared to the first half 2010 when the group recorded an $11.2 million loss. (Profits also were impacted by the exchange rate hedging implemented by Bulgari.) All of Bulgari’s product categories contributed to the first-half growth. Jewelry sales were up 20 percent while Watch sales grew 26 percent.

Damas posts AED 53 million net profit

Damas International Limited has announced a net profit of AED 53.3 million for the financial year ended 31 March 2011. Damas had reported a loss of AED 2 billion in the previous financial year. “Combined efforts have enabled Damas to achieve these robust results and strengthen its stature as the regional jewellery trendsetter and market leader,” said Ibrahim Belselah, Chairman of Damas. “The highlight of our performance was the achievement of successful financial restructuring, for which I would like to thank the banks and financial institutions for their support.”

Company News

Mouawad displays exclusive collection at Rolls-Royce Showroom in Abu Dhabi

Mouawad has partnered with Abu Dhabi Motors, the authorized dealer of Rolls-Royce Motor Cars to present a collection that boasts the best in Rolls-Royce Motor Cars and Mouawad superb treasures during the holy month of Ramadan. Until the end of August, customers visiting the Rolls-Royce showroom in Abu Dhabi will have the opportunity to admire works of exquisite craftsmanship, imbued with generations of care and passion for beauty and excellence – whether they’ve come to look at jewelry of motor cars.

Montblanc creates a one-of-a-kind Writing Instrument for Monaco Royal Wedding

In celebration of the wedding of H.S.H. Prince Albert II of Monaco to Charlene Wittstock on July 1st 2011, Montblanc has created a one-of-a-kind writing instrument, a Creation Privee from the Artisan Atelier Hamburg, which will be used by the couple on their wedding day as they make a lifelong commitment to each other. The intricate writing instrument crafted for this special occasion is inspired by the architectural elements of the Palais Princier and the Principality Flag, embellished with precious stones and the monogram of the Princely Couple.

Michael Phelps visits OMEGA during the World Championships in Shanghai

During the FINA World Championships in Shanghai, Legendary Olympian and OMEGA brand Ambassador Michael Phelps took some time to see his friends at OMEGA before he starts his final preparations for the competition. Michael had the opportunity to visit the OMEGA Boutique at the Swatch Art Peace Hotel and got the chance to talk to some young Chinese swimming fans, who were all enthusiastic about meeting him. At the boutique, Michael also assumed a different role. In addition to autographing watch boxes containing the newly upgraded Seamaster Planet Ocean collection, the 14-time Olympic gold medalist, donned a white lab coat and a watchmaker's loupe. OMEGA serves once again as Official Timekeeper for the Championships.

Hublot reveal the new King Power Dwyane Wade

For the first time in his career, NBA Champion, NBA Finals MVP, Olympic Gold Medalist and seven-time NBA All-Star Dwyane Wade comes to China to the Forbidden City in Beijing to meet “The One Million RMB Basketball Charity Challenge”. The funds collected by his shots will be donated to the leading non-profit organization One Foundation on behalf of Hublot and Wade’s World Foundation. On the occasion of “The One Million RMB Basketball Charity Challenge” in Beijing, Dwyane Wade and Hublot reveal the new King Power Dwyane Wade.

Michele Sofisti appointed CEO of Sowind Group

PPR has recently announced the appointment of Michele Sofisti as CEO of Sowind Group. He will be seconded by Stefano Macaluso, Managing Director for Girard-Perregaux, and Massimo Macaluso, Managing Director for JeanRichard and the Manufacture, who stay in their current position. He will also continue to serve as Chief Executive Officer Gucci Group Watches and Jewellery, and Member of the Board of Directors of Gucci Timepieces Hong Kong, China, Taiwan and Japan. An expert of the Haute Horlogerie industry, Michele Sofisti joined Gucci Group Watches as Strategic Advisor in 2009. He was promoted to CEO in 2010 after helping successfully reposition Gucci’s product offering within the watchmaking market.

Blancpain Endurance Series – Total 24 Hours of Spa

The typically Spa weather produced one of the most exciting ends to a qualifying session at the Blancpain Endurance Series’ - Total 24 Hours of Spa for many as times tumbled as the track dried. The event was took place in the mythical Spa-Francorchamps circuit in Belgium. Despite the engine blow-up of the Blancpain-Reiter nr24 Lamborghini which cut short the race for our team, this was an event of all superlatives and Blancpain congratulates the winners and all those who have crossed the finish line. The next round of the Blancpain Endurance Series is at Magny Cour on Saturday 20th August for a 3-hour evening race.

Piaget announces a new partnership with the Santa Barbara Polo & Racquet Club

Piaget is expanding its support of polo in the United States by becoming a sponsor of the Santa Barbara Polo & Racquet Club. Piaget is now the Official Timekeeper of the Santa Barbara Polo & Racquet Club and the title sponsor of the USPA Piaget Silver Cup. Founded in 1911, the Santa Barbara Polo & Racquet Club is celebrating its centennial year with a handful of events, including playing host to the Duke and Duchess of Cambridge for the Foundation Polo Challenge. Piaget’s polo ambassadors, Nic Roldan and Melissa Ganzi, played alongside Prince William in honor of The American Friends of the Foundation of Prince William and Prince Harry.

VCA inaugurates its new Boutique with Princess Charlene & Prince Albert de Monaco

Van Cleef & Arpels has created a limited edition of 15 sets of jewels for the charities of H.S.H. Princess Charlene of Monaco. On the occasion of the inauguration of the new Van Cleef & Arpels Boutique in Monaco on 4th August 2011, S.A.S. Princess Charlene was wearing the Princess Charlene Alhambra set.

TAG Heuer celebrates its First Year Anniversary of Beirut Boutique

Swiss luxury brand TAG Heuer celebrated the first year anniversary of their Beirut boutique on July 14^th 2011. A week of celebratory activity began on July 6th, leading up to the anniversary. On the evening of July 14^th, TAG Heuer held an exclusive cocktail reception with a ribbon cutting ceremony to commemorate this occasion with the presence of Eric Vergnes, General Manager LVMH Middle East, Jacques Mher and Barkev Atamian from Atamian Ets, the retailer of the brand in Lebanon. The Beirut boutique will showcase the TAG Heuer F1 Ceramic Chronograph, the Carrera 1887 and the latest launch from the brand, the LINK smartphone.

Montegrappa supports Swiss Red Cross

Montegrappa is proud to be partner of the Swiss Red Cross Gala in Zurich, Switzerland, that took place on 3 September 2011. In respect of this, the brand is honored to present a very special opportunity to bid for a personalized Montegrappa Portrait Pen. At this extraordinary event, an exclusive Portrait Pen was auctioned by Mr. Andreas Rumbler, CEO of Christie’s in Germany, to raise money for the Swiss Red Cross and their program, “In Aid of Victims of Forgotten Disasters.” The Montegrappa Portrait Pen is a precious, rare object and fashioned in rose gold, which the client may have engraved with whatever he or she would most desire.

Product Launch

Chopard unveils a stunning Haute Joaillerie set

Comprised of a variation of shaped diamonds and heart-cut sapphires, this dazzling five-row necklace is entirely in line with the tradition of exceptional, sophisticated and refined Haute Joaillerie creations cultivated by Chopard. 200 hours of meticulous work within the hushed atmosphere of the Geneva workshops, where only the whirring of workmanship can be heard, result in the creation of this radiant necklace and matching earrings. The magnificent white gold plastron necklace is set with over 400 beads, marquise and round-cut diamonds, as well as heart-cut sapphires – Chopard’s symbolic shape.

A. Lange & Sohne launches the Richard Lange Tourbillon “Pour le Merite”

This year, the Richard Lange Tourbillon “Pour le Merite” joins its pre­decessors - the Lange Tourbillon “Pour le Merite” (1994), the Tourbograph “Pour le Merite” (2005) and the Richard Lange “Pour le Merite” (2009). The defining feature of an A. Lange & Sohne “Pour le Merite” timepiece is its fusee-and-chain transmission system, which ensures constant force to the movement regardless of its winding state and power reserve. The system also features a planetary gear­ing that assures uninterrupted and constant transmission of energy even when the watch is being wound.

BLACKSAND introduces the latest model of Uniformity Collection

BLACKSAND has presented the first real picture of the BLACKSAND Uniformity model in Grade 5 satin-finished titanium and mat ceramic. Also, the brand is pleased to introduce its new model, the “Uniformity Joaillerie”. The Uniformity collection is now further enhanced by the addition of a fine jewellery model “Uniformity Joaillerie”, the lugs overlapping its case encrusted with diamonds. The sublime purity of no less than 276 Top Wesselton VVS 3.60ct. round diamonds accentuates the distinctively curved rose gold case housing a workshop-crafted movement.

The Cote d'Azur revisited: a luxurious summer trip with Schoeffel

Happy Blue is Schoeffel’s homage to the magical flair of the Cote d’Azur: an individually designed ring with a spellbinding fascination. The sumptuous extravagance of a rare blue Tahiti pearl stands out enticingly against an ocean of turquoise-blue diamonds with its seductive opulence. A firework display in blue and turquoise against a night sky of black rhodanised gold. A sophisticated statement with a touch of decadence. Perfect for a coupe of pink champagne and the sound of rippling laughter echoing from the yachts. A journey to the heart of one’s yearning. With the blue becoming deeper and deeper – the longer one looks at it.

Glam Rock SoBe in Oprah Magazine September issue

Glam Rock SoBe watch is listed among Oprah's favorite items featured in the coveted O List section in Oprah Magazine September issue. SoBe’s interchangeability comes with click of a finger and goes beyond the ability to simply change the straps of a watch. Thanks to the patented ‘Just Click’ technology, SoBe watches accompany any look: subtle stainless steel case covers for daytime are effortlessly replaced by metallic, diamond-embellished options for evening; fun colorful pieces join matching straps for a stylish day at the beach. The piece is also available on O, The Oprah Magazine Ipad  App available on ITunes.

Exhibitions & Events

Hong Kong Watch & Clock Fair 2011

Jewelex Arabia 2011 attracts interest from international exhibitors

The first edition of Saudi Arabia’s International Fine Jewellery and Luxury Watch Exhibition - Jewelex Arabia 2011, set to take place in Riyadh from 2 to 6 December, has attracted strong interest and commitment from international jewellery producers and regional jewellery retail trading agencies. All available space at Riyadh’s prestigious Four Seasons Hotel, venue for Jewelex Arabia 2011, has now been taken up by international names such as Art-Creations, Bogh-Art, Chatila, Kallista, Moussaieff, Nsouli, Salamoon, Vancox and Yessayan Jewellery.

2nd Edition of India International Jewellery Week (IIJW 2011)

The India International Jewellery (IIJW) Week, organized by the Gem and Jewellery Promotion Council (GJEPC) was inaugurated on 31 July 2011 in the presence of Shri Subodh Kant Sahai, Hon’ble Minister of Tourism, Govt. Of India along with IIJW Brand Ambassador, Sonam Kapoor at the Grand Hyatt Hotel in Mumbai. This is Asia’s first Jewellery Week aimed at re-enforcing India’s position as the Global leader in Jewellery Design. IIJW will see many glamorous models, high profile Indian celebrities and much sought after International celebrities sashay on the ramp displaying the designs of 35 designers /design houses.

International Jewellery London to present the latest trends and designs

International Jewellery London is an exciting event this year, as there is so much which is new – new exhibitors, new product areas, new trends and new show features – all designed to further enhance the visitor experience at the UKs most established, premier jewellery-focussed event. International Jewellery London is the only dedicated UK jewellery trade event, unveiling the latest inspiring collections, contemporary and classic. This year’s show is an outstanding one, with well over 500 exhibitors lined up to reveal their latest work. The show dates are 4^th-7^th September 2011 and IJL is taking place at Earls Court 2 in London.

Istanbul Jewelry Show 2011

The 33^rd Istanbul International Jewelry, Watch & Equipment Fair to be held on 13 – 16 October 2011 at Istanbul Fair Center (CNR Expo) will bring together professionals related to jewellery industry from Middle & Near East, Russia, CIS Nations, Eastern Europe and the Northern Coast of Africa. The event will display various products such as silver jewelry & households, diamonds, semi precious, precious, pearls, synthetic stones machinery, equipments, fine gold jewelry and fancy gold jewelry. In this show, many exhibitors are going to participate from all over the globe to showcase their latest products. The show will also witness a huge number of attendees and visitors.

Malaysia International Jewellery Fair (MIJF) 2011

Malaysia International Jewellery Fair (MIJF), the largest international jewellery fair in Malaysia was once again deemed a roaring success. Held from 7th to 10th July 2011, global jewellery traders amazed visitors with 100,000 pieces of duty-free luxury jewellery collections, and several professional workshops to ensure guests were keep abreast with the latest industry news. Over 100 international jewellery companies from 16 countries gathered at this unique platform to exhibit exquisite and spectacular jewellery collections. The next edition of MIJF is scheduled to be held from 6th to 9th January 2012 at Kuala Lumpur Convention Centre.

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