Market Report

Dubai International passenger traffic grows 7.7 percent in January

Dubai International passenger traffic up 7.7% in January by welcoming more than 6.8 million passengers, its operator said last week. According to the traffic report issued by Dubai Airports, passenger traffic rose 7.7 percent to 6,895,668 in January, up from 6,400,706 in the same month in 2014. This follows Dubai International’s performance in 2014 during which the airport welcomed 70.4 million passengers to claim the title of the world’s number one airport for international passenger traffic. Regionally, Eastern Europe remained the fastest-expanding market in terms of percentage growth (up 71.9 per cent), followed by North America (up 16.9 percent), the Indian subcontinent (up 12.2 percent) and Asia (up 10.5 percent). Most markets were boosted in January by holiday traffic as well as visitors to the annual Dubai Shopping Festival, a statement said.

Market News

TAG Heuer partners with the Al Majed jewellery

TAG Heuer, announces its partnership with the Al Majed Jewellery in Qatar during the recently held Doha Jewellery and Watch Exhibition. At the exhibition, the TAG Heuer booth reflected a motor racing atmosphere. A McLaren car was displayed to celebrate 30 years of partnership between the 2 brands.

Company News

La Montre Hermès appoints new CEO Laurent Dordet

Laurent Dordet, currently CEO of Hermès Maroquinerie Sellerie, has been appointed CEO of La Montre Hermès. Laurent Dordet began his career at Arthur Andersen in 1991. He joined Hermès International at the end of 1995 as part of the Group’s Finance Department. In 2002, he was appointed Deputy Chief Executive Officer of the Holding Textile Hermès (Lyon), and subsequently became CEO of Hermès Cuirs Précieux. He has been in his current position since 2011. Laurent Dordet takes over from Luc Perramond, who has been in this position since January 1st 2009, reporting to Guillaume de Seynes, President of La Montre Hermès.

Arianna opens its boutique in Abu Dhabi Mall

Arianna Fine Jewellery boutique from Pure Gold Group opens in the centrally located Abu Dhabi Mall, giving customers access to exquisite precious jewellery and accessories designed by international jewellery houses like Moraglione and Annamaria Cammilli. The new boutique entailed an investment of AED 10 million.

Officine Panerai sets Sail at the Dubai International Boat show 2015

Officine Panerai, joins the elite crowd and boat enthusiasts at the Dubai International Boat Show 2015, for the sixth consecutive year. The show took place at the Dubai International Marine Club, Mina Seyahi from the 3rd to the 7th of March and hosts an exceptional crowd of boat specialists, sea lovers, collectors and marine fans from various parts of the globe. In line with its tradition, Officine Panerai was the ‘Supporting Partner’ of the Dubai International Boat Show, confirming its patronage with the VIP registration lounge of this prestigious event.                                                                                                                 

Product Launch

Swatch Group on the defense again in Tiffany & Co case

The Swatch Group said it will appeal the Dutch court decision that voided the $449 million in damages Tiffany & Co. paid over the companies’ failed partnership. Last Wednesday, Amsterdam's district Court “set aside” the multi-million arbitration award issued in this case in December 2013. Accordingly, the court ordered Tiffany to pay about $449.5 million in damages plus legal fees and interest, with the total amount due by Tiffany to more than $500 million. Tiffany fully complied and paid out all dues in January 2014. According to an 8-K filing, Tiffany petitioned to have the award annulled in March 2014, which doesn’t happen often. There are only “limited grounds” on which parties can ask the Dutch court to set aside arbitration awards, the filing states, and Tiffany sought an annulment on these grounds, though it did not elaborate on the specifics of its petition in the 8-K. Last Wednesday, The Amsterdam district court decided in favor of Tiffany & Co. Hence, Swatch group immediately said that it plans to appeal the decision. Tiffany said in its 8-K that the appeal will not be resolved for at least 18 months. It could result in the court finding that Swatch breached the contract, that Tiffany breached the contract or that neither party was at fault.

A. Lange & Söhne celebrates the 1815 “200th Anniversary F. A. Lange”

A. Lange & Söhne with a limited 200-watch edition of the 1815 in platinum with a black dial; the 40-millimetre platinum case and the black solid-silver dial emphasise the sleek elegance of this timepiece. With its three levels and the subsidiary seconds at six o’clock, the face is reminiscent of the legendary pocket watches crafted by Ferdinand Adolph Lange. The case is in Platinum and the dial with solid silver, black. Hands are Rhodiumed gold and Strap is made of hand –stitched alligator leather, black, buckle platinum prong buckle. 

Arnold & Son unveils Instrument collection – DSTB

The DSTB is part of the Instrument Collection from Arnold & Son, the NAC grey treated movement features Haute Horlogerie finishing with hand-chamfered and satin-finished lever and bridges, polished edges and fine circular graining and Côtes de Genève rayonnantes. The visible dial plate is black ADLC treated with large circular finishing, and screws with bevelled and mirror-polished heads. The true beat seconds are superbly indicated via a large sapphire dial that occupies the top left portion of the dial. The dial is silvery opaline, sapphire. Case is stainless steel, cambered sapphire with anti-reflective coating on both sides, see-through sapphire case back. Strap is hand-stitched black or brown alligator leather.

Versace presents spring and summer Jewellery collection 2015

The Medusa Versace’s eternal symbol is sealed on rings and necklaces as a statement of style. The rings and necklaces come in gold. The Medusa sets against black onyx, surrounded by baguette or brilliant diamonds. Greca rings are engraved with the sharp geometry of Versace’s Greek key, available in yellow, rose or white gold. The exquisite romance of Barocco is defined by elegant precious stones, revealing the passions of the Versace world. Classic and modern, the Ronde collection, with pink quartz, blue topaz and amethyst held in rings featured with the Versace Greek key.

Adler reveals Flora collection

Adler’s new collection Flora, the magic emanating from these precious bouquets can be perceived in the details: sapphire, ruby, and yellow and white diamond petals shine clear and bright, adorning several sets of jewellery. The necklaces, earrings and rings are perceptively set; composed of a dozen stones, with cuts that vary between round, pear and oval. The fruit of artisanal expertise, these white-gold creations set with exceptional gemstones blossom at a woman’s touch and give rise to spring on Earth.

Celebrity News

Celebrities dazzle in Montblanc Products at the 87th Oscar Academy Awards in Los Angeles

Actor Joshua Jackson wears a Montblanc Star Classique and Montblanc red gold cuff links. Actor David Oyelowo wears a Montblanc Star Classique. Director Morten Tyldum wears a Montblanc Star Classique timepiece and the Montblanc Black and Silver Bar Cuff links. Actor Bradley Cooper wears a Montblanc cufflinks and studs. Director Dan Gilroy wears a Montblanc Timewalker timepiece.

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