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| Swiss watch exports in March 2008 touch CHF 1.2 billion; Middle East registers massive 37.8 % growth |
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Swiss watch exports in March 2008 attained a value of Swiss Francs (CHF) 1.2 billion, almost identical to that of March 2007, with growth registering a small growth of + 0.5 %. The Middle East (+ 37.8 %) came second only to China (+ 39.8 %) for sharp export percentage increases during this period over corresponding March 2007 figures. |
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| LVMH reports good Q1-2008 results |
| The Moet, Hennessy Louis Vuitton (LVMH) Group recorded a turnover in the first quarter of 2008 of Euros 4.0 billion, an increase of 5.0 % compared to the same period last year. Organic growth, based on comparable structure and exchange rates, was 12.0 %. In terms of sectors of activity, watches & jewellery top the rankings with an increase of 12.0 % to Euros 112.0 million, compared to Euros 189.0 million in Q1-2007. TAG Heuer performed extremely well thanks to the successful Grand Carrera collection. Zenith also fared well following the launch of the Chronomaster Grande Date. Montres Dior, Chaumet and De Beers also increased revenues due to continued network expansion. |
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| Bulgari’s Q1-2008 results consistent with company’s expectations, fares very well in the Middle East |
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A press release posted on Bulgari’s official website has revealed a turnover of 231.7 million Euros in Q1-2008, up 7.1 % over corresponding Q1-2007 figures at comparable exchange rates. All product categories registered a growth trend. Jewellery reached a turnover of 94.4 million Euro (4.2 % increase over Q1-2007); watches increased by 6.7 % at 60.2 million Euro and accessories rose 4.5 % at 21.4 million Euro.
The brand’s Middle East operations registered a double-digit growth of 11.4 % in this period, making it the fastest growing region for the company. Net profit was 22.8 million Euro in Q1-2008 compared to 23.9 million Euro in Q1-2007. |
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| Middle East gold jewellery sales up in Q1-2008 |
Egypt reported an astounding increase of 64.0 % in Q1-2008 gold sales over comparative Q1-2007 figures, whilst Saudi Arabia registered an increase of 7.0 % over the corresponding period. In real value terms, gold consumption in Egypt for Q1-2008 was USD $ 641.0 million (USD $ 392.0 million for Q1-2007) whilst that for Saudi Arabia in Q1-2008 was USD $ 748.0 million (USD $ 699.0 million for Q1-2007).
Dubai’s gold jewellery sales volumes rose 17.0 % in April 2008 over corresponding April 2007 sales on strong demand from India and less price volatility according to the Dubai Gold & Jewellery Group (DGJG). The Emirate also witnessed a modest 5.0 % growth in Q1-2008 over Q1-2007. In Abu Dhabi, gold jewellery sales rose 10.0 % in April 2008 by volume over the same period last year. In value terms, the UAE gold sales increased from USD $ 739.7 million in Q1-2007 to USD $ 849.3 million in Q1-2008, contributing to a 15.0 % increase in value terms. |
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| Increase in 2007 Italian jewellery exports to the Middle East |
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Italian jewellery exports to the UAE, a gateway to the Middle East where wealthy customers tend to splash out on big-ticket jewellery items, rose by a phenomenal 25.9 % to Euros 604.5 million in 2007 and took a whopping 12.9 % share of total Italian jewellery sales. Italy continues to remain the world’s biggest exporter of jewellery and the value of its exports increased by 4.0 % in 2007. |
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| Top Dubai Retailer 2006 heist suspect extradited to UAE by German Police |
| The German Police have handed over to the Dubai Police, the mastermind of two separate thefts at two jewellery stores of Ahmed Seddiqi & Sons in two leading malls in Dubai. Dubai Police’s General Department of Criminal Investigation coordinated with the UAE Interior Ministry, the German security authorities and the Interpol to extradite Andrea Zifatovitch, a Croatian national who allegedly entered the UAE with a false passport before carrying out the two robberies with two compatriots on 10 March 2006. A two-member CID Team from Dubai took custody of the suspect on 21 May 2008 from the German Police. |
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| Sotheby’s nets USD $ 57.1 million in recent sale of magnificent jewels in Geneva |
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Sotheby’s spring sale of ‘Magnificent Jewels in Geneva’, totaled USD $ 57.1 million, the highest total for any sale held in Geneva and the second highest for any sale of magnificent jewels worldwide. A new world record price per carat (USD $ 1,328,444) was attained for any gemstone when a Fancy Vivid Blue pear-shaped diamond ring weighing 3.73 carats sold for USD $ 4,955, 097. The collection of socialite Lily Marinho, wife of Brazilian media tycoon Robert Marinho fetched USD $ 11.0 million and an assortment of other noble jewels brought in USD $ 7.2 million. |
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| UAE diamond trade projected to reach USD $ 13.5 billion in 2008 |
| The UAE’s diamond trade is expected to touch USD $ 13.5 billion this year, up from USD $ 11.5 billion in 2007, according to Jean Van Der Donckt, Director, Diamond Finance, Dubai Metals & Commodities Centre (DMCC). “The diamond trade in the UAE has witnessed tremendous growth in the past few years and trade volumes this year are anticipated to reach new highs,” he said in a recent press release. |
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| Dubai Customs turns up the heat on fake & pirated goods |
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Dubai Customs has recently announced a set of tough new guidelines in a bid to combat the rising tide of counterfeit and pirated goods worldwide. The ‘Dubai Declaration’ includes 25 recommendations drawn up at the last 4th Global Congress on combating counterfeiting & piracy hosted by Dubai Customs in February 2008. The guidelines have been formulated in conjunction with the World Customs Organization (WCO), the World Intellectual Property Organization (WIPO) and other related agencies.
Director General of Dubai Customs, Ahmed Butti Ahmed sent a stark warning to counterfeiters saying, “you cannot bring fake goods here. We are in the Government to fight you”. |
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| HSBC Bank Middle East Ltd. sets up diamond-banking unit |
| Given the capital-intensive nature of the diamond trade, HSBC Bank in the Middle East Limited has recently established a diamond-banking unit to finance the local and regional diamond trade. HSBC Bank’s new unit will provide a full range of financial services to this sector. “We are happy to have been able to respond positively to the initiative of the DMCC and the diamond and jewellery community,” said Ajay Bhandoola, Head of Diamonds & Precious Metals , HSBC Bank. |
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| Saudi Arabia to have maximum retail space in GCC by 2010 |
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Saudi Arabia will account for a majority of retail space in the six-country Gulf Co-Operation Council (GCC) by 2010, according to an industry report. According to Colliers International, a commercial real estate firm, the Kingdom will account for the largest proportion of shopping mall gross leasable area (GLA) in 2010 with almost 7.0 million sq. m. compared to 3.1 million sq. m. in Dubai. Its current population exceeding 27.0 million will be the driving force behind the retail space expansion. |
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| H&M to open stores in Saudi Arabia exclusively for women, staffed by women |
| H&M (Hennes & Mauritz), the Swedish fashion & cosmetics retailer is to open a department store in Saudi Arabia, which will be staffed entirely by women and exclusively for women. The store will be run by the Kuwait-based Al Shaya Group, franchise holder for the brand in the Kingdom. |
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| Damas Group to invest in retail expansion, to expand in Arab countries |
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Damas Jewellery plans to invest more than USD $ 750.0 million over the next three years in doubling its network of points of sale, (which currently number 430) in markets across the Middle East, the Indian subcontinent and China. Damas also plans to set up manufacturing facilities in Saudi Arabia, Qatar, Jordan and Egypt. Damas has also invested in a large jewellery factory in China which began production earlier this year and currently employs 600 personnel. |
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| Sevan Bicakci Ring gifted to HM Queen Elizabeth II by Turkish First Lady |
Her Majesty Queen Elizabeth II was gifted a Sevan Bicakci ring by the Turkish First Lady, Hayrunissa Gul, during the monarch’s recent state visit to Turkey. This Sevan Bicakci ring presented to Queen Elizabeth is entitled ‘Cennet Bahcesi’ or ‘Garden of Eden’ and features a refined intaglio of flowers representing different nations and cultures. The Turkish First Lady is a fan of the Turkish celebrity designer (Sevan Bicakci) who was recently in the UAE to open his first boutique in the Middle East.
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| New Montegrappa boutique to be inaugurated in UAE |
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Montegrappa, in partnership with UAE retail partner Rivoli, will officially inaugurate its new boutique at Dubai’s swank Wafi City Shopping Mall on 27 May 2008. Especially invited guests, leading socialites and other VIPs will join officials from Montegrappa, the Richemont Group and Rivoli in the celebrations at the venue and will be entertained by noted Germany-born celebrity, professional, classical violinist David Garrett, who was appointed in 2007 as an ambassador for the launch of the new pens from the "Tributo ad Antonio Stradivari" collection. |
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| UAE Rallying legend Mohammed Bin Sulayem appointed TAG Heuer Brand Ambassador |
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TAG Heuer has added UAE rallying legend Mohammed Bin Sulayem as its newest Brand Ambassador. The announcement was made at a recent Press Conference held in Dubai by Eric Vergnes, TAG Heuer General Manager for the Middle East. “In the region Mohammed Bin Sulayem commands recognition and credibility and importantly he identifies with the TAG Heuer’s racing heritage,” commented Mr. Vergnes on the occasion.
As a gesture of magnanimity, Mohammed Bin Sulayem announced that the entire proceeds of the deal with TAG Heuer are given to ‘Save the Children’, an international charity founded in 1919. |
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| 51 East is the new, refurbished face of Qatar retailer Darwish Retail Services |
Another historic milestone in the legacy of Darwish Retail Services, part of Darwish Holding was achieved when the leading luxury retailer in the State of Qatar recently unveiled its new corporate identity of its flagship retail chain Modern Home at a press conference held at the Al Sharq Village & Spa. The new corporate identity will see Modern Home turn to 51 East, a new direction in style.
51 East is the geographic longitude of Qatar on the globe. “By incorporating a brand name that crowns Modern Home’s association with the heart and soul of Qatar, 51 East represents not only the country’s geographical location but also its new status in the world’s retail markets,” said Bader Abdullah Al Darwish, Chairman of Darwish Holdings at the press conference which was also attended by Saoud Abdullah Al Darwish, Vice President, Darwish Holdings. |
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| Cartier closely involved with Cannes Film Festival 2008 |
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At the Cannes Film Festival 2008, Cartier produced exquisite jewellery for a photo shoot for French actress, screenwriter and director Jeanne Moreau, by Gala Magazine. Additionally, Cartier is also a privileged partner to the World Cinema Foundation created by Martin Scorsese to preserve and restore the world’s cinematic heritage. |
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| Hublot bags orders worth CHF 253.0 million during Baselworld 2008 |
| Hublot, recently acquired by LVMH, took orders worth Swiss Francs (CHF) 253.0 million during Baselworld 2008 staged between 3 and 10 April. The brand had forecast sales of CHF 250.0 million during the entire year 2008. The Middle East took the lion’s share, the biggest, at CHF 67.0 million (or 26.5 %) followed by Europe at CHF 65.0 million (25.7 %), CHF 43.0 million for Asia (17.0 %), CHF 40.0 million for Latin America (15.8 %) and CHF 30.0 million for the USA (11.8 %). |
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| Damiani produces special brooch for ‘Milano Donna’ Award |
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Letizia Moratti, Mayor of Milan, has established the ‘Milano Donna’ Awards to recognize eight women who have distinguished themselves in different areas for their talent and commitment. Silvia Damiani, Vice President of the Damiani Group has contributed to this initiative by creating a unique brooch in rose gold and diamonds with a big ‘M’ for Milan, which will be given to these awardees. |
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| Vertu to open biggest boutique in the UAE |
| Vertu, the British brand manufacturer and retailer of luxury mobile phones since 1983, will open its 85.0 sq. m. boutique, its biggest to date, at the Dubai Mall, expected to be officially inaugurated in Q4-2008. Vertu is an independent, wholly owned subsidiary of Finnish mobile phone manufacturer Nokia. Vertu is retailed in the UAE by Rivoli and is available across the GCC through its authorized distributors. |
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| Louis Moinet opens new office in Switzerland |
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Swiss watch brand Louis Moinet has recently opened its new offices in a historical 18th century building in Saint Blaise, Neuchatel, the heart of the country’s watch-making industry. This splendid traditional building, home to a bank for several years, now accommodates the full range of activities of the Ateliers ‘La Maison de Louis Moinet’. |
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| Stars shine at Cannes with jewellery from Bulgari High Collection |
Actress Goldie Hawn wore a diamond necklace from the Bulgari High Jewellery Collection, a diamond bracelet from the ‘Lucea’ collection and a diamond & emerald contraire ring both from the ‘Flora’ collection at the world premiere of the movie ‘Indiana Jones and the Kingdom of the Crystal Skull’ at the Cannes Film Festival 2008.
Eva Longoria wore white gold & diamonds bracelet; white gold & diamonds earrings; platinum, pearls & diamonds brooch and white gold & diamonds ring with pearls, all from the Bulgari High and Vintage collections at the screening of the movie ‘Kung Fu Panda’.
Angela Jolie wore earrings and a ring from the Bulgari High Jewellery collection on the occasion of the photo-call of the movie ‘Changeling’ at the 2008 Cannes Film Festival. |
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| Kristin Davis, Tilda Swinton wear Boucheron jewellery for film premieres |
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Kristin Davis, who plays Charlotte York in ‘Sex and the City’ chose to wear Boucheron Cinna Pampilles earrings in diamonds on white gold on the occasion of the film’s premiere that took place recently in Berlin.
Meanwhile, English actress Tilda Swinton of mixed Australian-Scottish parentage, wore jewellery creations from Maison Boucheron at the Metropolitan premiere of the film ‘The Chronicles of Narnai: Prince Caspian’ in early May 2008 in New York. Swinton wore two of the Giupure High Jewellery bracelets in white gold and diamonds. |
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| Cynthia Nixon, Cecile de France strut in H. Stern jewellery |
Actress Cynthia Nixon wore H. Stern earrings in 18K noble gold with cognac diamonds and a Victorian ring in 18K Yellow gold with diamonds and rock crystal at the German Premiere at Berlin’s Cinestar Theatre.
Meanwhile, Belgian actress Cecile de France, now domiciled in France, also wore H. Stern Vintage Marquis necklace and a floral ring from the 2008 Red Carpet Collection both set in 18-carat white gold and diamonds at the ‘Indiana Jones and the ‘Kingdom of the Crystal Skull’ premiere at the Palais des Festivals during the 61st International Cannes Film Festival. |
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| Stars show off top branded jewellery at amFAR Cannes event |
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At the recent amFAR’s Cinema Against Aids gala, a highlight of the 2008 Cannes Film Festival, Sharon Stone, as the night’s auction host, wore jewellery by leading Italian jewellery Damiani. She wore the magnificent Sophia Loren Collection masterpiece—an exquisite necklace with 1,352 diamonds (totalling 81.0 carats) as well as the Gomitolo bracelet in white gold and diamonds and the Chignon ring in white gold and diamonds.
Likewise, French actress Clotilde Courau (and a member of the Italian Royal Family on marriage) and Swedish model Victoria Silvstedt wore de Grisogono jewellery at the same event. |
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| Miranda Lambert wears Bochic Jewellery at Awards ceremony |
| US country music singer Miranda Lambert, winner of the ‘Album of the Year’ at the annual Academy of Country Music awards held recently in Las Vegas. Miranda wore rose cut diamond and spinel earrings and a rose cut diamond and ruby ring both by Bochic, the New York-based US jewellery brand founded by jewellery designers Miriam Salat and David A. Joseph. |
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| Damas conducts preview of the latest IoSi jewellery collection |
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Damas recently held a preview at the BurJuman Jewellery Court in Dubai of the latest IoSi jewellery collection from the renowned Italian jeweller, the House of Scavia founded over 85 years ago in Milan. IoSi jewellery is designed for the individualistic, technologies contemporary woman with a sophisticated, modern touch. |
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| Alfieri & St. John introduces seven new 2008 jewellery collections for women |
| Milan-based Italian watch manufacturer Alfieri & St. John has introduced seven new 2008 gold and silver jewellery collections exclusively for women. These are ‘Aquarium’, ‘Excalibur’, ‘Filrouge’, ‘Moon Light’, ‘Movida’, ‘Pin Up’ and ‘Revolution’. These comprise an exclusive and eclectic range of colourful jewelled rings, earrings, bracelets, necklaces and pendants. Alfieri & St. John is stocked exclusively in the UAE at Azal Souk Madinat Jumeirah and Grosvenor House Hotel, both in Dubai and in Al A’Ali Mall in Bahrain. These collections were first unveiled at Baselworld 2008. |
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| Catamaran launches Seal 8051 chronograph in the Middle East |
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Swiss watch brand Catamaran has launched the supersized Seal 8051 in the Middle East. With a high resistant stainless steel case and a Swiss made quartz movement, this chronograph with two push buttons possesses time-zone mechanism, split seconds, date, tachymeter and night reading functions. This model is available with five different dials with assorted water-repellant leather straps with folded buckle. |
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| Mermod Freres introduces musical timepiece |
| Swiss brand Mermod Freres from Sainte-Croix has launched the ‘Primo 4’, an exceptional musical timepiece. This mechanical watch, launched at Baselworld 2008, features an integrated music player and a musical movement that plays four different melodies, which can be customized by buyers. The ‘Primo 4’ contains 577 components and 34 rubies and is presented in a limited edition of 50 units. Mermod Freres is owned by Reuge, the renowned manufacturer of music boxes and singing birds. |
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| Kudoke Watches introduces the ‘Mysticum’ range |
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Frankfurt, Germany-based premium watch brand Kudoke has introduced the ‘Mysticum’ range. In this watch series, the hours are indicated by a triangle under the hand-skelotonized and engraved dial, the minutes by a wavelike hand sawed, filed and blued by hand. Additionally, the quality movements from Switzerland are partly skeletonized, engraved and refined to the highest art of watch-making. |
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| Vogard launches new Formula 1 Edition watch |
| Vogard, the Biel, Switzerland-based Watch Company established by Michael Vogt in 2002, has launched the New Radiator F1, the third edition of its award winning and race inspired sports model. The new addition has a revolutionary dial design that affords an extraordinary view into the engine of the watch. Both the case and bracelet are made of extra hard black steel and Titanium-Carbide (TC) and the watch is produced in a limited edition of 99 units. |
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| Thai jewellery industry expands its global profile with participation at JCK 2008 |
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There will be a robust showing by Thai Jewellery Houses with the participation of a 76-strong contingent of leading Thai exhibitors at the JCK Las Vegas to be held from 30 May to 3 June 2008. This participation underscores the Thai jewellery industry’s endeavour to maintain a high international profile. The Thai pavilion is located in the Main Hall and will display a rich collection of avant-garde contemporary designs, couture jewellery superbly crafted quality gemstones and much more. An invitation-only networking lunch and product review is planned at the exhibition venue on 1 June 2008. |
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| The Gem & Jewellery Institute of Thailand to hold GIT 2008 in Bangkok |
The 2nd International Gem & Jewellery Conference hosted by the Gem & Jewellery Institute of Thailand (GIT) will be staged at the Bangkok Convention Centre at Central World from 11 to 14 December 2008. The Technical sessions, for oral and poster presentations, will be held on 11 & 12 December and this will be followed by a two-day (13 & 14 December) post-conference excursion to Thailand’s Kanchaburi province, rich in gemstones and sapphire deposits.
Papers have been invited for presentation at this conference on a variety of conference themes. The Secretariat’s e-mail contact is git2008@git.or.th |
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| Dior Montres appoints new President |
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Laurence Nicolas has been appointed President, Dior Montres, succeeding Valerie Lachaux, who has been appointed Director of Human Resources of the Watches & Jewellery Division of LVMH. News of her appointment was made jointly by Sidney Toledano, CEO, Christian Dior, and Philippe Pascal, President of LVMH Montres & Joaillerie. Laurence Nicolas joined Christian Dior Couture in 2001. |
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