Market News

Euro drop should mean cheaper GCC luxury prices

Ajay Dayal, chief executive officer of Tridayle Consulting, which advises big retailers on their import strategy, speaks to Gulf News, said consumers in the UAE can expect cheaper prices for imported goods. The recent drop of the euro to a nine-year low should have the knock-on effect of making imports cheaper for import-based economies in the GCC, according to a trading expert.  “Since we are an import-based economy, the falling euro is good news for us. So not only prices of food items would come down, cost of watches, and luxury items etc would also come down,” said Dayal.

Dubai Duty Free sales to reach Dh6.99 billion - (US$ 1.9 billion) in 2014

Dubai Duty Free (DDF) achieved a 7.4 per cent increase in sales to reach Dh6.99 billion in 2014 a record for the airport retailer driven by the renovation of Terminal 2 and the opening of new stores. The sales growth was achieved despite 80-day runway repair work at Dubai International Airport last year that had cut capacity by 26 per cent. The airport retailer said in a statement that sales grew by 7 per cent year-on-year in December to Dh749.13 million, driven by a 25 per cent discount on an array of merchandise from December 18 to 20 to celebrate DDF’s 31st anniversary. The three-day period brought in Dh188.86 million in sales. Sales transactions at DDF reached Dh26.99 million last year, both at Dubai’s main airport and Al Maktoum International Airport.

Saint Honore to open 70 stores within stores by 2020

Celebrating 130 years of global success of their famed 'Paris Style', SAINT HONORE the French company is planning to open 70 stores within stores, or designated retail areas in a store, in the Gulf Cooperation Council (GCC) countries over the next five years. The new retail areas will bring the company’s total number of stores within stores in the region to 150, the company’s president, Thierry Fresard, said in an interview in Dubai. This year, 15 Saint Honore stores within stores are expected to open in the GCC, mainly in the UAE and Saudi Arabia, which account for 65 per cent of the company’s regional sales. Fresard expects a 10-15 per cent revenue growth in the region in 2015 compared with the previous year, driven by the opening of new stores.

UAE public Holidays in 2015

UAE public Holidays in 2015

Company News

ISTANA opens new boutique at Four Seasons Resort Dubai

ISTANA opens a new boutique inside the Four Seasons Resort Dubai at Jumeirah Beach. Located in the lobby of the opulent property, this is Istana’s third boutique in Dubai.

Hrithik Roshan presents two exclusive new members of the Rado DiaMaster collection

Indian film star Hrithik Roshan and Rado CEO Matthias Breschan presented two exclusive new members of the Rado DiaMaster collection. The new model is a master class in Rado style, fashioned in polished black high-tech ceramic and featuring the minimalistic Rado DiaMaster case. the Rado DiaMaster “Clou de Paris”, The silver coloured dial features a fine “Clou de Paris” pattern beneath rose gold coloured hands and indexes. The elegant dial visuals are framed by the signature DiaMaster monobloc high-tech ceramic case in the enhanced plasma version.

PANERAI Transat Classique 2015

The International transatlantic race for classic and vintage yachts started on January 7th 2015. An old-fashioned adventure sponsored for the second consecutive occasion by Officine Panerai. A marvellous fleet of grandes dames of the sea casts off from the island of Lanzarote on a race of over 2,800 nautical miles across the Atlantic Ocean to Fort-de-France in Martinique, the port of arrival for the Panerai Transat Classique 2015. The owner of the winning yacht will be presented with an exclusive watch from the Officine Panerai collections.

Product Launch

Harry Winston presents Midnight Feathers Automatic 42MM

The Midnight Feathers Automatic 42mm, colors evokes amber-tinted vetiver roots, bulrushes and cedar wood, while the rose gold of the case is the perfect complement to the brown alligator strap. The slim case features the House’s timeless design, three arches, a tribute to the iconic gates of Harry Winston’s Fifth Avenue salon. The finishes white gold skeleton rotor, parabolic Côtes de Genèves, circular graining, beveled bridges. The dial is in Marquetry of brown and black domestic goose feathers. The buckle is polished in rose gold pin.

Be constantly updated on the latest Watch & Jewellery Business markets of the Middle East, as well as information on competitors, promotions, product trends, industry analyses, appointments, new product introductions & developments and market research.

Our weekly 'Arabian Watches & Jewellery Business Newsletter Broadcast' is distributed to over 22,000+ industry executives, Watch & Jewellery manufacturers and distributors, retailers, investors and media consultants globally.

Unsubscribe / Submission of News / Open Forum / Obtaining our news distribution / Confidentiality Important Copyright Notice / Disclaimer

Developed by We Do Web