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Market News
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Company News
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Product Launch
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Exhibition & Events
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| Chopard to open biggest showroom worldwide in the Middle East, sponsors key UAE Music & Arts Festival |
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At 600.0 sq. m., the new, soon-to-be-opened, swank Chopard showroom in the heart of Abu Dhabi, the UAE capital’s upscale Khalidiya Business District, will have the welcome distinction of being the brand’s biggest outlet in the world. Chopard’s newest boutique will shortly be inaugurated in partnership with Abu Dhabi distributor Al Manara Jewellery. Senior officials from both organizations are expected to witness this landmark event.
Meanwhile, the House of Chopard, signed up as the Luxury Goods Sponsor of the ongoing prestigious 5th Abu Dhabi Music & Arts Festival held under the patronage of HH Sheikh Mohammed Bin Zayed Al Nahayan, Crown Prince of Abu Dhabi at the impressive Emirates Palace Hotel from 22 March to 2 April 2008. One of the special highlights at the Festival was the riveting performance by Chopard’s new Brand Ambassadress, the talented and charismatic Russian Soprano Anna Netrebko at the venue. She enthralled the very elite, distinguished, by-invitation only, audience with her operatic recital skills. |
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| UAE & Saudi top importers of Swiss watches in the Middle East |
The Federation of the Swiss Watch Industry has ranked the UAE as the largest market for Swiss watches in the Middle East with imports surging almost 40.0 % to USD $ 43.0 million in October 2007, the highest in the region.
Saudi Arabia came second with imports valued at USD $ 11.0 million in October 2007 followed by Kuwait with USD $ 6.7 million. It must be emphasized that the market for Swiss watches in the UAE includes the large incoming tourist and re-export segments. |
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| Strong investor interest in gold continues |
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Investor interest in gold has remained strong and buyers are willing to pay more for the precious metal as prices stabilize, according to a senior official of the World Gold Council (WGC). “Despite the shortfalls in tonnage in the recent months, the annual figures reflect a positive outlook,” said Moaz Barakat, WGC’s Managing Director, for the Middle East, Turkey & Pakistan, speaking at a Press Conference to announce the holding of the 6th Dubai, City of Gold Conference, on 12 & 13 April 2008.
Tawfique Abdullah, Chairman of the Dubai Gold & Jewellery Group (DGJG), said that the upcoming gold conference would discuss ways to boost growth in the USD $ 146.0 billion global jewellery industry, roughly 10.0 % of which or USD $ 14.5 billion was in the GCC countries. |
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| 8000 GCC nationals involved in the UAE gold & jewellery industry |
Around 8,000 GCC nationals are involved in the UAE gold & jewellery industry and by 2011 is set to increase by 10.0 %, according to Tawfique Abdullah, Chairman of the Dubai Gold & Jewellery Group (DGJG). He also added that specifically, the UAE’s consumption of gold went up 8.0 % from 92.4 tonnes in 2006 to 99.8 tonnes in 2007, whilst sales rose correspondingly by 24.0 % from USD $ 2.11 billion in 2006 to USD $ 2.60 billion in 2007. Investment in gold touched USD $ 8.0 billion in Q4-2007.
The jewellery sector is the third biggest contributor to the UAE economy and a major supporter of national wealth creation. |
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| Tiffany Q4-2007 earnings beat Wall Street expectations |
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Tiffany & Co. posted higher-than-expected Q4-2007 quarterly profit in newly published results as increased sales overseas and at new stores helped offset the effects of a weak US economy that has put a strain on consumer spending. The top New York headquartered jeweller, Tiffany reported net sales rose 9.8 % to USD $ 1.05 billion in Q4-2007. For the fiscal year, Tiffany’s net sales grew 14.7 % to USD $ 2.93 billion and net earnings rose 20.0 % to USD $ 303.77 million. |
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| Movado Group’s fiscal 2008 sales rise 5.0 % |
| The fiscal 2008 sales for the Movado Group, manufacturers and retailers of such brands as Movado, Ebel & Concord, rose 5.0 % to USD $ 559.6 million for the 12 months ending 31 January 2008. Profits rose 22.0 % to USD $ 60.8 million. Net income in Q4-2007 rose 35.0 % to USD $ 19.6 million. |
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| Wealthy GCC Arabs to boost assets by 81 % by 2012 |
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Wealthy GCC Arabs will boost their collective assets by a whopping 81 % to USD $ 3.8 trillion by 2012, according to research by a unit of Marsh & McLennan. Assets held by people in the region with more than USD $ 1.0 million to invest are expected to grow from the current USD $ 2.1 trillion to the projected USD $ 3.8 trillion, the consulting firm Oliver Wyman said in a recent e-mailed statement. |
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| 317-piece gold jewellery collection is highlight of Gold Expressions 2008 |
| A 317-piece gold jewellery collection presented for the first time outside Italy after its global launch in the Vicenza fair in Italy in January 2008 was a big draw at the Middle East launch of Gold Expressions 2008 in Dubai. Another attraction of the event held at the Madinat Jumeirah Hotel’s Joharah Ballroom was the much-awaited fashion parade featuring approximately 180 pieces of exquisite Italian jewellery from the Gold Expressions 2008 Collection. The occasion was organized by the World Gold Council in partnership with the Vicenza Fair—the world-famous trade event for jewellery and AngloGold Ashanti, the world’s second largest gold mining company. |
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| De Beers Diamond Jewellers unveils new concept store in UAE |
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De Beers Diamond Jewellers recently unveiled its unique open concept store at Dubai International Financial Centre (DIFC) with a mix of openness and intimacy intended for the Middle East customer. “De Beers is a perfect fit at DIFC as the brand offers luxury, elegance and finesse that every business and finance leader seeks,” said Guy Leymarie, CEO, De Beers addressing those assembled at the inaugural ceremony.
The new showroom is De Beers third in the UAE and will house the latest collections and showcase the First De Beers Watch Collection including other signature collections such as Talisman, Radiance, Wildflower and Grasslands. |
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| International Diamond Laboratories & Damas to announce new initiative |
Antwerp, Belgium-based International Diamond Laboratories (IDL) and Damas will shortly host a Press Conference in Dubai, UAE to announce an important initiative to ensure product authenticity for jewellery customers.
Peter Meeus, CEO, IDL and Tamjid Abdullah, Deputy Managing Director, Damas will address the Press Conference to take place on 31 March 2008. They will be joined by Ahmed Bin Sulayem, Executive Chairman, Dubai Multi Commodities Centre (DMCC). |
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| TAG Heuer to open a second boutique in Dubai |
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TAG Heuer is planning to open a second boutique in Dubai, thereby reinforcing its presence in the UAE. According to Jean-Christophe Babin, CEO, that number may increase to four in the next five years. The brand claims a 6 % share in the UAE and expects to triple the business in the next 4-5 years. |
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| Tanagra sponsors French Art Festival in the UAE |
Tanagra brought a spirit of art and luxury to modern-day life by hosting the French Art Festival in Dubai (2 to 5 March 2007) and in Abu Dhabi (12 to 15 March 2008). The exhibition, championed by HH Sheikha Manal Bint Mohammed Bin Rashid Al Maktoum, featured especially commissioned collections comprising jewellery, silverware and other works of art from two renowned French artists Brigitte Martinet and Christine Barres.
Tanagra boutiques are located in Kuwait, UAE, Saudi Arabia, Qatar and soon in Bahrain. |
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| Bvlgari to launch Vintage & High Jewellery Collections in Middle East |
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Bvlgari will present its Vintage and High Jewellery Collections at a ceremony at the Creek Ballroom in Dubai’s Park Hyatt Hotel on 18 April 2008. The AWJ B2B Newsletter Broadcast will bring you details of this event after its occurrence. |
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| ‘Enlightened Swarovski Elements’ brand to be launched at Baselworld 2008 |
| The 400 sq. m. Swarovski stand in the new ‘Palaces & Lounges’ #1 Area at Baselworld 2008 will be the venue of the new ‘Enlightened Swarovski Elements’ brand to be launched at the venue. Swarovski’s Gem Bureau has received contributions for the Gem Couture Project from such legends as British designer Stephen Webster and Iraqi Architect Zaha Hadid. |
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| Pure Gold to diversify into luxury fashion business |
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Pure Gold, a leading UAE-based jewellery group will launch its luxury fashion businesses this year. Its new chain of luxury stores will retail Bvlgari, Chanel, Versace and Dior. The Group will also set up three new exclusive stores in Abu Dhabi Duty Free and hopes to have 100 outlets across the GCC by 2010 from the current 60. |
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| Ronan Keating buys Pinctada South Sea jewellery for his wife in the UAE |
| Dublin-born Irish pop singer Ronan Keating was spotted on a recent visit to Dubai, UAE in the local jewellery designer Pinctada at the Mina Al Salam Hotel in the Madinat Jumeirah Resort purchasing stunning white South Sea pearl and diamond earrings for his wife—Irish model Yvonne Connolly. |
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| Cartier releases ‘Inde Mysterieuse’ Collection ahead of SIHH 2008 |
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To commemorate and celebrate its long-standing association with Indian Royalty, the House of Cartier has introduced its newest ‘Inde Mysterieuse’ (Mysterious India) Collection ahead of SIHH 2008. A specially-invited posse of journalists (including MPParabia) joined a bevy of top-flight VIPs, celebrities, socialites and other invited guests for a recent sneak peek of this new India-oriented collection at the Al Falak Ballroom at the Burj Al Arab in Dubai.
The new collection, which will also be showcased at SIHH 2008, comprises rings, bracelets, earrings & necklaces with a professed India-centred theme. The event was hosted by the visiting President & CEO of Cartier International Monsieur Bernard Fornas and Monsieur Patrick Normand, Managing Director, Cartier Middle East.
[The full transcript of an exclusive interview with Mons. Fornas will be published in the next edition of Arabian Watches & Jewellery (AWJ) Magazine] |
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| Charriol commemorates 25th anniversary with release of three new models |
Founded by Philippe Charriol in 1983, Geneva-based Charriol watch brand will celebrate this special anniversary with three new models named C25. Three limited-edition steel series of 50 watches are to bear the ‘25th Anniversary’ logo on the dial. The watches are self-wounding with date and power reserve facilities and feature an oscillating weight that is Charriol customised.
Charriol will be exhibiting these new releases in Geneva’s Richemond Hotel from 5 to 10 April 2008. |
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| Chaumet introduces Class One Croisiere Collection in GCC |
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Chaumet has introduced its very first Cruise Collection in the Middle East. These pendant and earrings models feature 20 jewels, 5 stones (Quartz, Citrine, Topaz Pink, Quartz-amber hued skin and Moonstone), and a three-coloured gold set with a circle of diamonds. |
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| New Dior Fine jewellery collections to be released in April 2008 |
| Christian Dior will reveal a series of new collections of rings, earrings and necklaces in different hues and material composition in April 2008. These include creations white, yellow and pink gold, diamonds, green beryl, grey & white mother-of-pearl, pink and purple sapphires, tsavorite garnets, rubies and cultured pearls. |
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| Elini to unfurl new Genesis collections at Baselworld 2008 |
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Italian watch brand Elini will unfurl the new Genesis collection for ladies and men at Baselworld 2008. The Ladies collection, Genesis Spice, is a daring design in tonneau case with or without diamonds with a chronograph Plus Ronda 5020 movement, white mother-of-pearl dial and an exclusive design intended to spice up a woman’s appetitive for an elegant watch. The Genesis collection for men features the Vision, a three-hand Swiss Automatic movement and Fast Track, with a Swiss chronograph movement. |
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| Schaumburg Watch to unveil new collections at Baselworld 2008 |
| Schaumburg Watches, the German watch-maker based in the Northern State of Lower Saxony, will unveil a slew of new collections at the upcoming Baselworld 2008. Some of these include the Gnomonik I, Bordhur I, The UTC, Lunarium Kalenderuhr and Classoco Multiral 18K Unikatorium, to name a few. |
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| Barthelay launches two new collections in the Middle East |
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Paris-based French watch brand Barthelay founded by Alexis Barthelay in the 1930s has launched two new elegant collections—Lulu & Pave de Paris in the Middle East. The Lulu collection featured an oval shaped case extending to follow the wrist contour. These are skillfully produced with a combination of steel, white, yellow or pink gold, diamonds, mother-of-pearl and silk satin.
The Pave de Paris is another exceptional collection features timepieces fitted with Swiss quartz movement and mother-of-pearl dials paved with diamonds. They are further enhanced with pearl faces featuring Arabic & Roman figures perfected with leather straps. |
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| Pomellato to present new 2008 collection in the Middle East |
| Italian jewellery brand Pomellato will shortly unveil its new 2008 collection in the brand’s boutique at the Boulevard in the Jumeirah Emirates Towers Hotel in Dubai. Pomellato is represented in the UAE by Azal, a division of the diversified Al Tayer Group. |
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| Cyril Mothe to establish first Middle East showroom, unveil new collection in UAE |
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Noted French jewellery designer Cyril Mothe will shortly open his first Middle East boutique in Dubai, UAE. The inaugural ceremony will also mark the launch of his new jewellery collection for the region. The brand has also expanded since its founding to include accessories, fashion wear and interiors. |
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| New 2008 Rosato Collection to be revealed shortly in the UAE |
| The new Rosato 2008 Italian Jewellery Collection will be reveled shortly in the UAE in partnership with local distributor Damas. Simona Rosato, Creator & Founder of the brand, will attend the event. |
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| New collections of Italian watch brand Haurex launched in the Middle East |
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Haurex Italy, the designer watch brand has recently launched its latest collections in the UAE in partnership with its national distributor Al Sayegh Brothers. The Italian watch brand has been characterized as ‘trendy and fun to wear’. Massimo Minardi, Export Sales Manager of the brand and Jossy Stephen, General Manager, Al Sayegh Electronics Division, attended the presentation ceremony. |
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| Dalumi to launch new ‘Fate’ Collection, launches annual jewellery competition |
Dalumi has launched its new ‘Fate’ jewellery collection at the recently concluded 25th Hong Kong International Jewellery Show. Dalumi’s exquisitely crafted three-dimensional ‘Fate’ collection is a tribute to showmanship. It is available in 18-carat white or pink gold framing diamonds ranging from 0.15 carat to 1.00 carats.
Meanwhile Dalumi has announced its first annual ‘When the Source Turns into Inspiration’ jewellery design competition. Designs must be received by 20 May and the winner will be announced at the JCK Las Vegas Show to be held from 30 May to 3 June 2008. |
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| Simmons Jewellery to debut men’s steel collection to international markets |
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New York, USA-based Simmons Jewellery will shortly launch the Simmons Steel Collection for Men internationally. The brand will showcase at Baselworld 2008 for the first time in the Hall of Inspiration. The new releases includes the stainless steel and diamond jewellery collection of bracelets, rings and neck chains and will include the highly-sought after Green Collection. |
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| 18th SIHH 2008 to be held in Geneva from 7 to 12 April 2008 |
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The 18th Salon International de la Haute Horlogerie (SIHH) will take place in the 24,000 sq. m. Hall 6 of Palexpo in Geneva from Monday 7 April to Saturday, 12 April 2008. 13,000 Professional visitors from around the globe will attend this ‘by-invitation only’ fair which brings together sixteen of the most outstanding names in Fine Watches & Jewellery from the Richemont Group brands. These include Cartier, Audemars Piguet, IWC, Jaeger LeCoultre, JeanRichard, Montblanc, Officine Panerai, Vacheron Constantin and Van Cleef & Arpels to name a few. |
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| First ICA International Gem Show 2008 to be held in UAE |
| The International Coloured Gemstone Association (ICA) will launch the First ICA International Gem Show 2008 at the Al Bustan Rotana Hotel in Dubai, UAE from 13 to 15 October. It will be held under the patronage of Coloured Stones & Pearls Division of the Dubai Multi Commodities Centre (DMCC) and will attract buyers from the Middle East and worldwide. |
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| 6th Dubai City of Gold Conference to be staged on 12 & 13 April 2008 |
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The two-day 6th Dubai City of Gold Conference, an initiative of the Dubai Gold & Jewellery Group (DGJG) in conjunction with Dubai Metals and Commodities Centre (DMCC), will be held at the Park Hyatt Hotel on 12 & 13 April 2008. More than 20 international speakers and 500 delegates are expected to attend. |
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| Timex Group gets new Chairman & CEO |
| Hans-Christian Hoejsgaard has been appointed the new Chairman & CEO of the Timex Group. Originally from Denmark, the former student of Harvard Business School has had considerable experience in the perfume & watch and jewellery industry. He replaces Joe Santana. Founded in 1854, Timex is one of the world’s leading watch groups with an annual turnover of around USD $ 700.0 million. |
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