Parmigiani bags Gulf Connoisseur Honours with Bugatti Supersport Chronograph

Swiss Watch Exports Set for Record Year Logging US$ 14.72 b in q3; UAE among top markets. End Quote

(1888PressRelease) November 30, 2011 - Swiss luxury watch maker Parmigiani Fleurier bagged top honors at the Gulf Connoisseur Awards, when their Bugatti Supersport Chronograph Limited Edition was adjudged the Best Male Complication Watch in a field replete with leading international luxury marques.

The awards were distributed at a glittering function at The Palace, Old Town, Dubai that saw the who's who of the luxury industry together. The awards were adjudged by a panel of high-powered judges comprising leading business personalities and acknowledged connoisseurs of the finest in luxury. They were Nuruddin Mustafa bin Abdul Latif, Chairman of MANCO; Yogesh Mehta, Managing Director of Petrochem and Ms Janette Green, Brand Communications Director of Aston Martin Lagonda.

"The award is further recognition of Parmigiani Fleurier's front-running position as pioneers and innovators of the first order in the world of haute horlogerie," said Guillaume Marx, Area Sales Manager of Parmigiani Fleurier on receiving the award. "The brand retains its position as one of the leading watchmakers in the industry with their technical mastery over complications and ability to carry out near-perfect restorations of old classics. I would like to take this opportunity to dedicate the award to the 500 employees of Parmigiani in Switzerland."

The award further underlines the important role played by Parmigiani as one of the leading Swiss luxury brands who are at the forefront of the rapidly resurgent Swiss watch industry, which looks set for a record year.

According to recent industry estimates, Swiss watch exports till Q3, 2011 stood at US$ 14.72 billion, nearly 20% up over last year. Exports for the fourth quarter only need equal the amount for the same period last year, i.e. US$ 5.34 billion, to give a total of US$ 20.05 billion for the year. Compare this with the industry's current record of US$ 18.56 billion in 2008, the previous highest total.

The Middle East and the emerging economies of Asia are significant markets for the Swiss watch industry, which exports nearly 95% of its production. Asia and Oceania, including the GCC and Levant take up 47% of Swiss watch exports in value, Europe 33%, Americas 19%. The UAE ranks among the top ten importers of Swiss watches in the world.

Parmigiani Fleurier, one of the most prestigious Swiss Haute Horlogerie brands, was born in 1996 in the heart of Val-de-Travers. Thanks to the Sandoz Family Foundation and its dedication to preserving high quality Swiss expertise, Parmigiani Fleurier is today one of the few brands to design each model as a showpiece, created and perfected within its own network of workshops. Founder Michel Parmigiani had conceived the brand's spirit as far back as 1976 through his work restoring watchmaking artifacts and his unrivalled knowledge of the mechanical marvels of the past.

Now represented in more than seventy countries on five continents, the Parmigiani Fleurier brand continues to find new opportunities for expansion.

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