watch makers gear up for world\s biggest fair
Last Updated : GMT 12:34:34
Arab Today, arab today
Arab Today, arab today

Watch makers gear up for world\'s biggest fair

Arab Today, arab today

Arab Today, arab today Watch makers gear up for world\'s biggest fair

Geneva - AFP

The world\'s biggest watch event opens in Basel, Switzerland, this week on the back of a bumper year thanks to Asian demand for luxury timepieces. Whether this hunger will extend to the expected star of the show -- a $5 million diamond-laden model by Hublot -- is unclear but with 1,815 exhibitors from 41 countries, high-range watch devotees can expect to see something they like. The watch and jewellery event brings together names such as Rolex, Dior and Chopard who will present their most prestigious collections to around 100,000 visitors over eight days. The watch industry, dominated by the Swiss, has largely been spared the effects of the financial downturn and eurozone crisis which have hurt other sectors. Swatch, the world\'s largest watch group, posted record sales of 7.1 billion Swiss francs (5.8 billion euros, $7.4 billion) in 2011 and saw a 18.1 percent jump in net profit to 1.3 billion francs The Bienne-based giant, owner of numerous brands such as Omega and Tissot, said 2012 had got off to a similarly good start with double-digit growth in January in February, although for the full year the figure is expected to even out to between five and 10 percent. Group director Nick Hayek said he hoped to create 1,000 new jobs worldwide this year. The main reason for the healthy business across Swiss brands is Asian demand, according to the Federation of the Swiss Watch Industry. \"After a fantastic year in 2011 -- a new record year for the Swiss watch industry -- the growth will continue in 2012, said president Jean-Daniel Pasche. \"This is mainly down to Asia -- our first market ahead of Europe and America. \"We profit off the general growth of the economy in the region -- there are many people who have the means to acquire a Swiss watch. They find our products very attractive. \"Despite the turbulence I would say that our industry is resisting very well,\" said Pasche. \"We hope that Baselworld will open in a rather good atmosphere for the Swiss watch industry -- generally speaking we are in a positive mood.\" Hublot, a subsidiary of French luxury goods group LVMH, will use the high-profile event to unveil \"The $5 million\" a watch comprising no less than 1,282 diamonds. \"This is the most precious watch ever created by Hublot and its long-standing partner, Atelier Bunter in Geneva,\" said Hublot. The piece is the result of 14 months work, including that of a \"master-cutter\" from New York who fashioned the largest stones. The watch will be displayed under very tight security, a company spokeswoman said, and only select Baselworld attendees will even be allowed to view it. Swiss police only last month revealed they had identified the man responsible for organising a spectacular eight million franc diamond robbery at last year\'s event. Thieves made off with a set of four diamonds from a window after distracting booth staff. They have not been recovered. Investigators believe the heist was the work of an Eastern European group specialising in stealing jewellery and valuable antiques. An international arrest warrant is out for a 54-year-old Croatian man.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

watch makers gear up for world\s biggest fair watch makers gear up for world\s biggest fair

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

watch makers gear up for world\s biggest fair watch makers gear up for world\s biggest fair

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday