apr.-may-jun. 2015 issue 10
international magazine
international information
www.jeweltimemag.com
Reducing demand for gold jewelry by 10% in 2014 The annual report of WGC speaks 2152.9 tons
The... glittering red carpet the Cannes festival Jewelry house Chopard shone in the great celebration of cinema
Hypotonic trade Diamond in April In April, the index diamond RAPI rose 0.4% to 1 carat diamond
Auction in Geneva broke all records The house Sotheby gained 160.9 million. Dollars. Of precious jewelry
presentation Arteon Jewelry, Kouzoupis S.A, Triantos S.A., Tzortzis P. George
editorial www.jeweltimemag.com facebook.com/jeweltimemagazine
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twitter.com/jeweltimemag
No more “special taxes” in jewelry
he domestic jewelry market is still swirled in an unprecedented economic crisis in the country, about five years after placing us under memoranda and external supervision. All these years led many professionals with extensive route into the profession in distress in slack in padlocks, changing the human geography of one of the most historic professions in Greece. At the beginning of this period, some say that the sacrifices will quickly bring
However, the answer is that this is a whole industry with SMEs and many workers being targeted, and pay change in the situation. Unfortunately, the ‘sacrifice’ remain but the situation does not change. And this is the writing on the occasion of the crucial consultation was underway when our magazine went to press, in relation to what the new tax measures will be required to get the newly elected Greek government. Under controlled public information, much has been said and “revealed” about establishing a new “special tax” which if actually imposed, it will result in a new blow to purchase jewelry, giving perhaps the final blow. The price already baptized “excise” and “estimated” that will amount to 6%, would apply to the sales of equipment under the luxury tax (eg watches, jewelery, works of art). The measure will probably applied on the Ae-
gean islands which reduced rates apply. This measure will attempt to present as imperative as “law” because it draws money from the pockets they want and can afford to purchase items not emergency. However, the answer is that this is a whole industry with SMEs and many workers being targeted, and condemned. And the first signs are already coming from data has the Jewel Time from the same ELSTAT, and showing that exports jewelry and gemstones are going down. But the recent publication of the ICAP study for 40 most profitable sectors of the Greek economy in 2014, which shows that the sector of the clock is absent, although included in 2013. Therefore, the State need to deal with another point the jewelry and watch industry, equally with other productive sectors and not as a “scapegoat.” Because the price will be heavy for everyone ...
Publisher Tasos Spanoudis
Arteon Jewelry showroom: pageou4 Thessaloniki Greece www.arteon.eu tel.: +30 2310 54331
PROPERTY Spanoudis Anastasios, 2 Parnassou Street, 105 61 Athens, Greece tel.: +30 210 32 33 394, fax: 210 32 33 395, www.jeweltimemag.com, e-mail: info@valkat.gr, info@jeweltimemag.com - www.facebook.com/jeweltimemagazine - twitter.com/jeweltimemag PUBLISHER Tasos Spanoudis EDITORIAL MANAGEMENT : Dimitris Stamoulis, CREATIVE ART DIRECTOR: John Kanakis, PUBLIC RELATIONS MANAGEMENT: Mina Dimopoulou, COPY-EDITING: Antonia Patrinou, PHOTOGRAPHY: John Soulis, all4mat studio, ACCOUNTING: Mirella Bitali It is prohibited to republish, produce and transmit, with any audiovisual mean, all or part of the magazine, without the written permission of the publisher.
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index
22
news 10.
Concerts ... robbery in Cartier Cannes New cinematic hit with smooth jewelry 17.5 million. EUR
trends 18.
Portable embedded devices technology becomes invisible ...
12.
Large Rififi district of London diamantopolon
13.
Shiny party Bulgari jewelry of Taylor
auction 20.
Auction house Bonhams The collection of Lauren Bacall was sold for 3.64 mil. USD
21.
Record price for a necklace of colored pearls Five million. Dollars bought at auction the Christie’s
22.
The Sotheby’s sold a “flawless” diamond versus 22.1 million. Dollars
23.
Auction in Geneva broke all records The house Sotheby gained 160.9 million. Dollars. Of precious jewelry
presentation 24. Arteon Jewelry The art of handmade jewelry
subject 14.
26. Kouzoupis S.A.
Handmade exclusive jewellery creations inspired by Greek history
The... glittering red carpet the Cannes festival Jewelry house Chopard shone in the great celebration of cinema
28. Triantos S.A.
Jewelry with tradition in excellent quality and original design
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ΤZORZTIS P. GEORGE SILVER AND GOLD GREEK JEWELRY 61-63 Chalkis str. Nea Ionia 142 33 Athens Greece Τel.: +30 210 2759373 - +30 6972 860270 email: tzortzis.g@gmail.com
index
41
30.
watch 40.
Tzortzis P. George Timeless design of high quality
1% increase of sales Movado watches
41.
The Tiffany launches the new watch collection CT60
exhibition 32.
42.
Positive sign in Baselworld 2015 Participation 1,500 exhibitors and 150,000 visitors!
The watch of winning Churchill at auction Clocks IWC turn to Smartwatches
gemologies 43.
Gemmologikes sessions in Athens
44.
precious metals 35.
Hypotonic trade Diamond in April In April, the index diamond RAPI rose 0.4% to 1 carat diamond
Ends the gold mining over the next 20 years?
36.
45.
Reducing demand for gold jewelry by 10% in 2014 The annual report of WGC speaks 2152.9 tons
38.
Expect jump 1400 USD. For gold
39.
Past ... phone shaping the gold price
Sales growth for the Russian diamond giant Alrosa
economy 46.
He broke the barrier of 21 million. Tourists in 2014
49.
Rise in exports A quarter 2015 There remains a small contribution of exports in the resulting national product
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news
Concerts ... robbery in Cartier Cannes New cinematic hit with smooth jewelry 17.5 million. EUR “Epidemic” has broken out as shown in France with impressive robberies aimed luxury jewelery stores and precious stones. Recently, four men managed to grab jewels and watches by Cartier shop located in the legendary Croisette Boulevard in Cannes. The prey as estimated by store managers, amounts in terms of value of 17.5 mil. Euro The attack occurred by a man who wore elderly mask and managed to enter the jewelry store without being noticed, although the area has door with vestibule and an armed security guard. Threatening the guard with an automatic weapon, the man opened the door and allowed two well armed accomplices, who wore scarves on their faces to enter. A fourth accomplice their guarded the area outside the jewelry store. At the time of the robbery, two employees and one customer were in the store. The two robbers with subtle energies emptied the contents of the showcases in gym bags that were with them, while the third controlled movements terrified
bystanders. In his haste to prevent them from leaving the store before the police appeared, and had activated the alarm, the fallen and several luxury watches and jewelry. It is worth noting that the Cartier store is angular and located right next to the famous Hotel Carlton, site of another film jewelery robbery in 2013. In the summer of that year, masked gunman had been invaded by the window on the ground floor, which hosted the auction and jewelery exhibition Israeli firm specialized in Leviev diamonds. The booty was worth jewelry over 100 mil. EUR. The recent wave of robberies especially worried the authorities, as it could be linked to funding efforts of new terrorist organizations with religious or political motives. Despite being specially trained unit of police, BRB (Gang Response Unit), the strengthening of security methods in banks has turned villains more “easy” targets, such as jewelers, luxury hotels or the CIT.
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news
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news
Large Rififi district of London diamantopolon
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ith a film director Rififi burglars swiped literally from content around three hundred safes in one of the supposed best guarded London district, known as the neighborhood of diamantopolon. The villains after they managed to enter the shaft of the elevator, then opened a passage to the room safes, using heavy equipment. Not yet specify the exact amount of their prey. However, an expert in the field of diamonds, Lewis Malka, spoke of “hundreds of thousands” euro. Burglars acted during Easter Catholics and “raised” the content than half of the approximately 600 safes company «Hatton Garden Safe Deposit Limited» located in Hatton Garden, the jewelery district of the British capital. Most of these safes are used by professionals in the diamond trade and jewelry.
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news
Shiny party Bulgari jewelry of Taylor
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few days ago, the firm Bulgari held a unique party in which presented to public view some of the most famous jewelry has painted for Elizabeth Taylor. The legendary collection of jewels of the famous star consisting of diamonds and emeralds, was a gift from her beloved husband of her life, and for some time, her husband, Richard Burton. The jewels of these donated during the filming of the classic film “Cleopatra in Italy.� Here are some of the characteristics of glittering jewels literally evening.
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news
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subject
The... glittering red carpet the Cannes festival
Jewelry house Chopard shone in the great celebration of cinema
Sienna Miller
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subject
Editing: Dimitris Stamoulis They flashed the flash of photographers on the red carpet of the Cannes festival but could not compete with the glow of precious jewels worn by the big movie stars who “paraded” offering unique snapshot. Official partner of the Cannes Film Festival since 1998 is the house jewelry Chopard, who this year again graced the wrists, necks and earlobes of celebrities from around the world attended both premieres and at parties that accompanied the big artistic event.
elle Béart and Léa Seydoux also chose Chopard jewels on the red carpet, the first to wear a single Chopard diamond
On Sunday, model Poppy Delevingne made his appearance wearing a unique value Chopard necklace decorated with diamonds. The jewel ideally combined with the deep green dress Vurberry Prorsum, while the beautiful Poppy chose a Toi & Moi Chopard ring with two emerald cut diamonds 5 carats each. The famous French actress Emmanu-
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subject
earrings and a diamond bracelet for the premiere of «Irrational Man». The Léa, which was awarded the Palme d’Or prize in 2013 for her role in the film «Blue is the Warmest Colour», passed the red carpet going to the premiere of her new movie «The Lobster», wearing more dazzling colorful jewels of the festival. Having chosen an elegant dress Miu Miu adorned earlobes with Chopard earrings blue sapphires cut pear and white diamonds, as a corresponding ring with sapphire. The French star has shown that a woman can stand out and shine on the red carpet without ... expose necessary in plain sight the bust or neck ...
peared with a dress color magenta Gucci’s house along with necklaces of the same house from white gold and diamonds, for the premiere of the re-issue of the classic masterpiece of Luchino Visconti «Rocco and His Brothers. Natalie Portman chose to appear with
one of the house of Dior strapless dress and her hair gathered together was heading at the premiere of the film «A Tale of Love and Darkness». A pair of dazzling earrings house de Grisogono white gold and diamonds gave a sense of absolute elegance in the beautiful actress.
Wearing a dress Elie Saab coral paint the famous American actress Andie MacDowell like seemed to have not spent time from twenty years ago the success of “Four Weddings and a Funeral” and «A Funeral». Regarding valuable options, wore a beautiful ring of house Chaumet in pink gold and colored gems from the collection Hortensia, especially for the premiere of the film «Inside Out». Sienna Miller singled to gothic appearance with black dress Sonia Rykiel which combined with a «dramatic» Bulgari choker white gold and diamonds. The British actress, who participates in jury of the 68th Cannes Film Festival, also wore a ring pavé Bulgari Serpenti white gold and diamond. The luscious Salma Hayek-Pinault ap-
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trends
Portable embedded devices technology becomes invisible ... Editing: Dimitris Stamoulis Many experts estimate that the market for embedded technology devices can climb in terms of turnover in 70 billion. Dollars annually over the next decade. This estimate obviously has not left indifferent the big tech companies and numerous gold- and other brands gadgets products and accessories, which in this year’s International CES 2015 technology report showed what younger have designed and built amenity of the desire of most ... technologically sophisticated and restless consumers. Smart Swarovski
company’s products remain digitally and have a more plastic appearance. “So we mobilized the jewelry designer Tory Burch, who created a range of gold and silver bracelets and pendants that conceal very subtly the technological elements of energy detectors,” said the Lindsay Cook, marketing director of Fitbit. What explains the executive Fitbit is that more and more people like to wear such products not only when they play sports or fitness activities, and when they have a meal or even when they are invited to a wedding. These stylish fitness trackers addressed to such customers. The dawn of smartwatches Large presence at CES had the smart watch manufacturing companies. The Apple, the Samsung, the LG, Motorola and other companies are launching
At the recent international exhibition CES technology, fitness trackers Misfit maker launched a model that works with solar energy and which is “camouflaged” with a number of large purple crystals Swarovski, turning it into an elegant jewel. “Our thoughts are to create a product that combines aesthetics with functionality, so that our potential customers to choose and get it,” said Lindsay Kresch, executive Misfit. “The issue is that no longer is left little room wrists of modern humans. When you buy a beautiful watch you did not want to take it off from your hand because you invest some money to get it. I believe that most people seeking more discreet ways to watch their athletic performance, “added Kresch. The company considered bestseller category is the Fitbit. In the vast majority of the
models that carry a multitude of applications, which appear on a small touch screen. Other companies focus their attention on customers who prefer a more intelligent approach. The company Martian, a leader in smartwatches, manufactures products that work with voice commands and present
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trends
the information to the small screen. The characteristic of the products of Martian is that their appearance is characterized by the markers bearing analog watches. Recently unveiled new models that designed and signed by famous fashion company Guess. “Apple will transfer wider world the possibilities offered by a smartwatch and the advantages,” noted the president of Martian, Stanley Kinsey. However, he added: “We have a different approach. There will be a large proportion of customers that would prefer the appearance of smart watches Apple, but many others would want our own terms. “ High tech devices A giant of watchmaking, the company Fossil, announced its intention to present a wide range of built-in human body high tech devices after its collaboration with high technology company Intel. The first models will be presented in the retail market for sale to the end of 2015. Some of these devices will be smart touch watches running Android, supported by the Android Wear. But others will look more traditional watch and will remind some jewelry, but behind the elaborate decoration will be devices with sensors and computational functionality. “We will not go into a race to introduce to market a smartwatch», said the head of Fossil policy strategy, Greg McKelvey speaking the BBC. “We are in a race to offer interconnected accessories that our customers really want, and which will feature technologies that will offer more functionalities than timekeeping capabilities, while giving emphasis to the modern style.” The Swiss watchmaker Tag Heuer has also announced at this year’s CES that prepares its own line of smart watches that have a traditional look, although he preferred not to offer a preview of its plans in this year’s technology. Although the CES 2015 were several companies that showed smart portable hightech devices diligently “camouflaged” by gems or beautiful watches, there were some companies that chose to present their products with an emphasis in digital mode and capabilities. The most striking example was the company Mota, who presented a “smart ring” that offers Twitter and Facebook updates on ... finger of its owner. “There are people who wants to be« in ». He wants to always be coordinated with the new pos-
sibilities of electronic and new future and this can achieve wearing a product that is technologically advanced, “explained Erica Henson, executive Mota.
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auction
Auction house Bonhams The collection of Lauren Bacall was sold for 3.64 mil. USD
Editing: Dimitris Stamoulis
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he jewels of one of the most emblematic figures of Hollywood actress Lauren Bacall, yielded great profit to the house Bonhams New York auction. The agency managed to sell 740 items and the collection of the actress, among them thirty pieces that were painted top jewelry houses such as Tiffany, Cartier and Chanel. Among the leading jewelry collection Bacall included the necklace chain yellow gold 14 carats of Tiffany & Co. which sold for $ 52,500, a diamond ring, amethyst and turquoise of the same firm also gained versus $ 52,500 and a bracelet signed the firm Schlumberger gold 18 carats and diamonds, which sold for $ 50,000. A second bracelet Schlumberger gold 18 carats and another of blue enamel and gold was sold for $ 35,000 each, like a necklace of carved turquoise and enamel. Born in 1924 in New York, aka Betty Joan Perske, began her career as a model and later became an actor in film. He was only 19 when she made her film debut in the «To Have and Have Not», next to Humphrey Bogart. Along with the famous actor will co-starred in the films «Key Largo», «The Big Sleep» and «Dark Passage». The two married in 1945 and had two children. They remained married until Bogart’s death from
cancer in 1957. After the death of his great love, he remarried and had another child. The Bacall, which starred in over thirty films in her career, died last August at the age of 89 years. The Bonhams auction house took to auction more than seven hundred items from his personal collection. In addition to jewelry, the collection of Bacall included many other items such as art, English and French of the 18th and 19th century furniture, luggage etc. One of the most distinctive pieces of luggage was a set of Louis Vuitton with monogram, who was sold for $ 43,750 and a suitcase of the same house sold for $ 40,000. Overall, the sale of 740 objects in the collection of the actress in the house yielded 3.64 million. Dollars.
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auction
Record price for a necklace of colored pearls Five million. Dollars bought at auction the Christie’s Editing: Dimitris Stamoulis
I
n the record price of EUR 5 million. Dollars sold a necklace consisting of four series of natural colored pearls in an auction of the house Christie’s in New York. Pearls are sized from 4.90 to 12.65 mm and the necklace was purchased from a private derived from Asia, as spokesman of the auction house. With this value, most jewelry is the most expensive necklace bought at auction process of natural colored pearls. According to the house Christie’s «natural pearls achieve impressive figures, following the strong demand that exists for the pink and blue diamonds JAR creations offered in the same auction.”
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auction
The Sotheby’s sold a “flawless” diamond versus 22.1 million. Dollars
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ithin just three minutes from the start of the auction sold the 100 carat flawless diamond which pulled out in the auction house Sotheby’s in New York under the Magnificent Jewels Auction. Indeed, the price jumped to outrageous amount of $ 22,100,000! At all by chance is this “feat” for the precious diamond as it is one of the largest diamond ever sold at auction in the world. According to international media, only five “perfect” diamonds of over 100 carats have been sold at auction, including an oval-cut diamond 118 carats had sold over $ 30.6 million in Hong Kong in 2013. The diamond of 100 carats which broke the box office of the famous auction house were extracted in South Africa and required a total period of one year to cut its final form. This diamond was included in the tour conducted by the well-known firm in Dubai, Los Angeles, Hong Kong, London and Doha.
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auction auction
Auction in Geneva broke all records
Ruby ‘The Sunrise Ruby’ 25,29 carats from Burma was sold for 30.3 million. Dollars.
The house Sotheby gained 160.9 million. Dollars. Of precious jewelry
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he auction house Sotheby’s, Magnificent Jewels & Noble Jewels, which was held in Geneva recently succeeded in selling fine jewelery with a total turnover of 160.9 million. Dollars. This is the highest turnover worldwide in jewelry auction. Many records were broken during this auction. For example, the sale of ‘The Sunrise Ruby’, an astonishing and incomparably rare ruby Bourmas 25.29 carats, which sold for 30.3 million. Dollars. This sale generated a new auction record for rubies. Another important snapshot of the Geneva auction was the sale of ‘The Historic Pink Diamond’, which reached 15.9 million. Dollars and jewelry Duchess of Roxburghe, sold in total over 6.6 million. Dollars.
Tiaras Duchess of Roxburghe, which along with other jewels sold over 6.6 million. Dollars.
The sale of ‘The Historic Pink Diamond’ reached 15.9 million. Dollars.
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presentation παρουσίαση
The art of handmade jewelry Gold and silver are transformed into modern and classic high quality jewelry One of the most important companies manufacturing silver and gold handmade jewelry is Arteon, which was founded in 1990. At its premises performed both the design and manufacture of jewelry, which is made by combining traditional handicraft methods together using innovative technology.
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he plans Arteon follow contemporary fashion trends and use the metal in various shades, and semiprecious stones and enamels in bright colors combining the original idea to the classic style. The style of jewelry is in perfect harmony with the overall image of the company and addressed to women, men and children.
The Arteon woman addressed to women of all types and mood that wants to stand out at all times of the day by selecting the luxury at the right price. The company offers two female collections a year, the first in February and the other in September.
Specifically, Arteon designs, manufactures and markets: • Women’s bracelets, rings, necklaces, earrings and pendants • Kids bracelets, rings, necklaces, earrings, pendants and brooches baby for welcoming the newborn • Men’s bracelets, rings, necklaces, cuff links and key rings
The series Arteon men intended for the male audience, presents designs minimalist style of metal and leather for every man who wants to vary.
Women turn Arteon characterized by luxury, glamor and design.
The series Baby Arteon consists of decorative charms and nannies with playful
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presentation παρουσίαση
designs and vibrant colors that adorn the crib, stroller and baby clothes rouchakia, as well as jewelery collections for small ladies! A key element in the “philosophy” of Arteon is the orientation of the quality of jewelery offers, which always retains high despite its continuing effort to reduce costs. Stationary target people of Arteon is immediate and excellent customer service and commitment to them in terms of quality and trade. On the other, their vision is the continuous increase awareness of the company and its products and dedication to the brand inside and outside the Greek borders.
ARTEON JEWELRY SHOWROOM: PAGEOU 4 THESSALONIKI GREECE +30 2310 543311 www.arteon.eu
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παρουσίαση presentation
Handmade exclusive jewellery creations inspired by Greek history
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he goldsmith workshop founded by Anthony Kouzoupis in 1947 at Constantinople, after 65 years of continuous growth, has developed today into the company “Kouzoupis S.A” of Athens, one of the most respected creators of exclusive handmade jewellery. Maintaining the experiences and values of the past, the firms’ mission is to safeguard and pass to the future generations, the Hellenic jewellery tradition, which started 5.000 years ago and is still developing. Kouzoupis S.A, uses the various Hellenic history periods as point of reference and inspiration for the firm’s jewellery. The various Ancient Greek, Byzantine and Modern Greek collections, are all handmade creations by highly experienced, skilled, talented and dedicated craftsmen in the field of quality jewellery. Our jewellery categories are: - Ancient Greek - Byzantine - Modern Greek Our jewellery is: - handmade - made of gold 750 (18K) and 875 (21K) white, yellow or
black - set with precious stones such as sapphires, rubies, emeralds and diamonds Our jewellery bears a hallmark indicating: - the quality of gold 750 (18K) and 875 (21K) - our manufacturer code Ωξ82 - the quality standards of our jewels comply fully with the international rules and regulations Our objectives are: - Maintenance of handmade techniques, that gives to our creations distinctive look and finish. - Creation of high quality jewellery that connects the tradition of the past with the present. Our philosophy is: - To surpass ourselves in the art of jewellery, by creating unique pieces of art, that will respond to the needs of the present day consumers. Exports to Europe and America The exclusive jewellery designs of Kouzoupis S.A and its consistent quality has earned the lovers of jewellery in Greece and around the world.
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παρουσίαση presentation
The company has been engaged in exports for many years in several countries, both in Europe and in America, focusing mainly on the markets of Germany, Spain and the USA. Also maintains local offices with permanent representatives in New York and Munich. Exhibitions in Greece and abroad Having a dynamic production, high quality standards and fashion design, our company has managed to establish its products both in Greece and abroad. For the best promotion of its products, the company participates in Greek exhibitions in Athens and Thessalonica, as well as worldclass exhibitions such as New York, Las Vegas, Munich, Frankfurt, Madrid, Munich and Basel. Our next goal is the establishment of our exclusive jewels in Russia and the Arab countries. Awards The Athens Gold & Silversmiths Association award to the firms founder Anthony Kouzoupis, for the continuous and dedicated contribution in maintaining the Greek jewellery
tradition, is a confirmation and recognition of our success. The company has also received award for the best participation in the international exhibition of Jewellery “Kosmima” in Thessalonica. Special Activities Our company designed and manufactured an entire line of unique and collectible jewels for the Olympic Games in Athens 2004. Among the various designs, the company manufactured the international symbol of the Olympic Games, the Olive Coronal.
KOUZOUPIS S.A. www.kouzoupis.gr info@kouzoupis.gr Tel.: +30 210 3228018
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presentation παρουσίαση
Jewelry with tradition in excellent quality and original design
One of the most historic and renowned jewelery companies in Greece is or triantos SA, founded before forty years Constantine triantos, who from the age of 15 years envisioned a large jewelry company. Headquartered in Athens, in privately owned facilities, hosting one of what most modern jewelry manufacturing units in Greece.
D
esign, manufacture and sale of jewelry are the three main areas of activity of the company Triantos SA. Both the management and staff, establish, with extensive expertise and experience in the jewelery a wide range of valuable products, such as orthodox crosses, cufflinks, men’s rings tiles - amulets, yellow in yellow and white gold 14 and 18 carat gold, with or without gemstones All these valuable creations
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are available from Triantos SA at selected jewelers throughout Greece and in some of the most dynamic and competitive jewelry markets. Jewelry with quality and ISO Over time the name and visibility of products, the acquisition of signal quality internationally renowned ISO 9001 and the integration and awards from the ELKA (Greek Goldsmith Center) among the five pioneers and remarkable Greek companies in the industry continued efforts rewarded by opening simultaneously way to the establishment of the company and abroad. Growth and development in the international market Vision of the company Triantos SA is the development and evolution of both domestic and inter-
presentation παρουσίαση
national markets, offering high quality services and products. Our goal is to service and satisfy our partners’ needs and thus consumers, continuous improvement, the introduction of new standards in the jewelery industry, adapting our operations so as to respond to changing circumstances and new demands. Since its inception, the company Triantos SA oriented to the creation of high quality products. The superior quality, uniqueness and originality of the products is the result of long and continuous research.
TRIANTOS SA www.triantos.gr info@triantos.gr Τel.: +30 210 2222698 Fax: +30 210 2223632
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presentation
TZORTZIS P. GEORGE Timeless design of high quality Gold and silver jewelry inspired by the ancient Greek tradition. The company George P. Tzortzis offers precious gold and silver jewelry, with dominant figure the timeless Greek symbol, meander, and emphasis on high quality and perfect finish. The jewelry collection of the company offers a wide range of designs from rings, earrings, bracelets, necklaces and pendants decorated with white and yellow meanders, with gold and silver as the main material.
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presentation
It is no coincidence that the company George P. Tzortzis emphasizes the meander symbol, because this geometric pattern is met through all periods of ancient Greek art and architecture from the pottery of the Geometric period, decorative elements to the metopes of temples up to the shield of King Philipos. The company George P. Tzortzis offers handmade creations, drawing its inspiration from the ancient historical tradition of Greece in jewelry and recently invested in exports, armed with reliability, quality of materials and integrity of the product.
TZORTZIS P. GEORGE 61-63 Chalkis str. Nea Ionia 142 33 Athens Greece Tel.: +30 210 2759373 +30 6972 860270 e-mail: tzortzis.g@gmail.com
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exhibition
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exhibition
Positive sign in Baselworld 2015
Participation 1,500 exhibitors and 150,000 visitors! Editing: Dimitris Stamoulis
W
ith positive completed the leading international jewelery and watch exhibition Baselworld 2015, which took place in Basel, Switzerland for eight days. The largest and most renowned brands from around the world, the leading retail distributors and the international press once again gave the audience “present” and worked with thousands of visitors to the exhibition. It is significant that this year there was a record number of media correspondents who visited the Kingdom to meet the most “glamorous” exhibition in the world. The Baselworld is a report that stands out from all others because it succeeds in effectively combines all the luxury industry and its components involved: Companies
jewelery, clock industry, processing companies and marketing precious stones, diamonds and pearls, as well as machinery manufacturers and suppliers of related products and consumables. Overall the “present” in the report gave this year 1500 companies, which presented all the latest innovations and creations to the public. But the visitors reached 150,000 covering the entire spectrum of representatives and envoys Exhibitor as buyers and journalists as jewelers. They all felt the pulse of the pioneering developments in the industry, discovered the new trends and bought the latest collections which will be the most trendy suggestions of the international market in the coming period. The representatives of the press who attended the report amounted to 4300 (+ 7% compared to 2014) and came from 70
- 33 apr.-may-jun. 2015 i. 10
exhibition
countries. According to the account of the organizers, the companies participating in the exhibition are particularly satisfied. Commenting on the result, the Francois Thiebaud, President of the Swiss Exhibitors’ Committee, said: “The Baselworld is world renowned as the premier event for the global jewelery and watch industry. What makes it special is that it is the only exhibition that reflects the most of the industry excellence bringing together all creators, from the smallest to the largest brand, and offering step in each sub-sector of the industry. “ Assessing the estimates of exhibitors participating, Mr. Thiebaud appeared convinced that “this year will be positive for the watch and jewelry industry because all the parties involved to continue to innovate, not only creating new products but by promoting and new communication routes with media and buyers. “ The Karl-Friedrich Scheufele, vice president of the house of Chopard, stressed that Baselworld continues to be “the leading event of the year, enabling us to meet and work with our clients from around the world.” A similar view was expressed and Thierry
Stern, president of the house watchmaker Patek Philippe, for which the Baselworld is the most important event of the year. “We meet all our partners and all of our international network in a specific place and time.” Mr. Stern described this year’s show as “an extraordinary event which was quite successful in terms of numbers but also of the interest shown by visitors”. Enthusiastic were the first comments and the president of the Watch segment LVMH, who said that the group’s brand TAG Heuer, Hublot and Zenith «had excellent results above our expectations.” However, the Baselworld not only watches and jewelry. All leading companies from the world of diamonds, gems and pearls were in Basel, as they know that there they will find their most loyal customers, all those seeking flawless stones and reliable service. The representative of Shanghai Kimberlite Diamond Co noted that despite being their first presence at the exhibition, I was excited by the participation, the interest of visitors and the number of new partnerships have acquired. The next Baselworld will take place from 17 to 24 March 2016.
- 34 apr.-may-jun. 2015 i. 10
precious metals
Ends the gold mining over the next 20 years?
V
ery rarely will be two decades from now precious metals according to the latest estimates of Goldman Sachs. At the international firm, stocks are in precious metals such as gold, and precious stones such as diamonds increasingly limited, while mining is expected to be made until the next twenty years. Stocks of other useful but less rare metals, such as copper and nickel, and precious platinum is adequate Ms. lypsoun demand for the next forty years. The combination of very low concentration of minerals in the earth’s crust and
very few high quality stock means that some metals are really rare, he noted Eugene King, precious metals analyst of Goldman Sachs. Scarcity of metals and belief among market participants that the new discoveries will be limited, pushes up the price of rare and extremely rare goods at the King, who also provides that gold production is expected to peak this year to follow the retreat .
- 35 apr.-may-jun. 2015 i. 10
precious metals
Reducing demand for gold jewelry by 10% in 2014 The annual report of WGC speaks 2152.9 tons Editing: Dimitris Stamoulis
G
lobal demand for gold in 2014 amounted to 3923.7 tons, according to the annual report of the World Council of Gold (WGC). Demand for gold jewelery dropped by 10% and was reduced to 2152.9 tons, though declined by 5% compared to the average of the last five years. Investing in gold grew by 2% and amounted to 904.6 tonnes, while investment in gold bars and coins fell more and the record low of 2013. The central banks bought 477.2 tons
approaching record fifty years. The ongoing economic crisis afflicting many parts of the world, had the effect of reducing to 389 tons of industrial and technological use of gold recording a record low for the past 11 years. Concerning the total supply of gold mining companies, was firm: production from mines peaked amounting to 3114.4 tons, but production of gold recycling was the worst of the last seven years. In particular, regarding the jewelry industry, the image formed in 2014 is as follows: Significant demand due to large events
Gold demand by category 2014-2013
demand 2014 jewel technology investment Net purchases of Central Banks
demand 2013 jewel technology investment Net purchases of Central Banks
- 36 apr.-may-jun. 2015 i. 10
precious metals
and the significant number of marriages in India, strong demand in the period of Christmas in the United States and Great Britain and overall demand 2152.9 tons, a figure reduced by 10% compared to the previous year. 2014 was a very good year for the Indian jewelry industry, as demand reached a record 662.1 tons exceeding by 8% in the demand of 2013. And all this despite the fact that the Indian Government has taken steps to limit importation of gold for years. The wedding jewelry led demand and very high initiations and the festival jewelry.
The American jewelery had a constantly upward trend in gold demand last year. Especially the last quarter of 2014 was the seventh consecutive lending growth and also was the strongest fourth quarter since 2009. Similarly, the total demand of 132.4 tonnes of gold in the US jewelry industry was the highest in the last five years. However, as the WGC, these market demand levels remain very low in relation to the pre-crisis. It is significant that between 2000 and 2006 demand was 360 tonnes.
- 37 apr.-may-jun. 2015 i. 10
precious metals
Expect jump 1400 USD. For gold
V
ery positive developments envisaged for the international price of gold, if confirmed estimates Capital Economics. In particular, the analyst Julian Jessop refers to impending leap to $ 1,400 per ounce for the yellow precious metal by the end of 2015, and expects increased demand after gold remains a safe haven.
“We still anticipate jump gold in the coming years, with the forecast for 2015 at US $ 1,400 / ounce, well above the median estimate,� says analyst Capital Economics. H Capital Economics estimates that the Fed will proceed at a more aggressive rate rise than markets expect, and rise in the dollar against other major currencies.
- 38 apr.-may-jun. 2015 i. 10
precious metals
Past ... phone shaping the gold price
F
inally a tradition ninety-six years was given Friday, March 20, regarding the process of setting international prices of gold. Specifically, for the last time on March 19 the price of the bar set by the trader of four banks, namely Barclays, of HSBC, Scotiabank and the Societe Generale, through the telephone conference. Plus, the technology “won” and the auctions will be made online, the platform
LBMA Gold Price, with prices is readily available to all investors. Note that gold was the final precious metal left the old-fashioned way of determining the price index, which favored manipulation. It is characteristic that in 2014, the bank Barclays «punished” with a fine of EUR 33 million as of trader confessed that he had made in altering the price of gold.
- 39 apr.-may-jun. 2015 i. 10
watch
1% increase of sales Movado watches
Editing: Antonia Patrinou
S
lightly uphill Movado watch company sales were initiated in the fourth quarter of 2014, according to data released in early April. Specifically, total sales rose by 1% and amounted to 133.91 million. Dollars when last year the same period were shaped into 132.3 million. Dollars. Net income amounted to 9.9 million. Dollars higher compared with 7.3 million. Dollars last year, while operating income increased by 50% to 10.1 million. Dollars.
According to the president and CEO of Movado, Ephraim Grinberg, the results of the fourth quarter exceeded expectations of the company. “The total sales of the watch category experienced slower growth than in previous years and we saw retailers restrict their purchases and form a tighter management of their stocks,� he said. Overall, for the twelve months, net sales increased by 3% and amounted to 586.98 million. Dollars. Net income remained stable at 51.9 million. Dollars and operating income increased by 6% standing at 71.5 million. Dollars. Regarding 2016, the company expects that net sales will increase and will move between 590 and 600 million. Dollars, while operating income will increase to 72 to 75 million. Dollars. Finally, with regard to the net income for 2016 is estimated at 48.5 to 51 million. Dollars.
- 40 apr.-may-jun. 2015 i. 10
watch
The Tiffany launches the new watch collection CT60 Editing: Dimitris Stamoulis
S
wiss mechanism and alligator leather straps are some of the main features of the new watch collection of Tiffany & Co. Named Tiffany CT60, a collection inspired by the company’s founder, Charles Tiffany. The new collection marks the return of the house to quality watchmaking. There are two lines in the collection consisting of 23 tracks, the Chronograph and 3-Hand. The two rows are addressed in both men and women and it is stainless steel watches with soleil finishes and poudré dial digits. There is also a limited edition Calendar with frame pink gold 18 carats and energy autonomy 42 hours, damping jolting back and transparent crystal sapphire. Also pink gold 18K models available both from the series Chronograph and the 3-Hand. The supplier of self-winding mechanisms limited edition Calendar is the company Dubois-Depraz, while Chronograph watches series and 3-Hand feature selfwinding mechanisms of the companies La Joux Perret and Three-Hand by Sellita. The Tiffany & Co except collection CT60 presented also collect Tiffany East West, a number of clocks with rectangular frames. It is available in three styles, they are made of stainless steel and have black dial, blue or white, while their mechanisms are quartz. “This year marks a new era for clocks of Tiffany & Co.» noted a press release of the company. “In our effort to offer broadest choice in watches, collections of 2015 will inject new elements concerning the plan and the operational capabilities of our models, satisfying our customers enduring and attracting new friends of our timepieces.” The watches of the collection Tiffany CT60 start at $ 4,250 while the watches Tiffany East West start at $ 3,500. The clocks of both collections are available in the retail market exclusively through retail outlets of Tiffany.
- 41 apr.-may-jun. 2015 i. 10
watch
THE WATCH OF WINNING CHURCHILL AT AUCTION
CLOCKS IWC TURN TO SMARTWATCHES Editing: Dimitris Stamoulis The Swiss watchmaker IWC Schaffhausen, which belongs to the group Richemont, responding to new trends in the market
The house Sotheby’s offers a unique historical relic inspired by the anti-fascist victory of 1945 Editing: Dimitris Stamoulis A clock whose owner was Winston Churchill, an emblematic figure of British and world politics, will auction the house Sotheby’s in London on September 22, 2015, according to a recent announcement by. This is a watch Victory Watch which offered the British Prime Minister by a group of Swiss citizens and is one of just four pieces created by the Allied Leaders after the Second World War. The other three watches in this limited edition donated to Charles de Gaulle, Joseph Stalin and Henry Truman, all the leaders of the allied powers (France, the Soviet Union and the US) experienced winning the war machine of the Nazis and Hitler. It is no coincidence that the announcement of the house Sotheby’s held on May 8, the day of antifascist victory and the fall of the Berlin seventy years ago, and after fifty years since the death of the great British leader. It is not therefore merely a great economic value but watch for a real historical treasure and a symbol of leadership ability and mental endurance. That is expected to attract intense interest of buyers to the appointment on 22 September. The initial estimate for the Victory Watch ranging from 60,000 to 100,000 pounds. In enamel bearing the display is depicted St. George defeating the dragon nailing him with a trident. It symbolizes the victory of good over evil, light over darkness, with clear allusions to the outcome of the Second World War. On the back of the timepiece is engraved with V from the word Victory, along with a personal dedication (in English): “1939 - Prime Minister Winston Spencer Churchill - 1945”.
of high technology products decided to enter the field of smart watches utilizing hitherto technology and adding innovative applications to more sophisticated models. Unlike most of the smartwatches already on the market, the IWC Connect is not just a smart watch. It designed so that it can be incorporated in straps of existing clocks IWC, acting as two separate pieces. Initially it may be combined with the watches collection Big Pilot of IWC. The company, however, refused to reveal whether to combine smart watches and other models and what will be their costs. Having built-in sensors and Bluetooth capabilities, the Connect may record the activities of the person who wears it, and will have the opportunity to communicate and exchange data with other nearby devices. The IWC Connect not display. However, you can connect to smartphone software that would allow it to be connected to other devices of the nearby environment or with specific devices that are also connected to the smartphone software.
- 42 apr.-may-jun. 2015 i. 10
gemologies
Gemmologikes sessions in Athens The first of a series of annual Gemmological sessions to be carried out in various countries begins in Athens on 27 and 28 June, in Hotel Divani & Thalasso Hotel, with organizer Independent Gemological Laboratory (Greece), the Swiss Canadian Gem Lab inc. (Canada), in collaboration with the Association of Independent Jewellery Valuers (UK) and the National Association of Jewelry Appraisers (US).
to jewelry appraisers, jewelers and gemstone traders in recent years. Some issues related to colored diamonds, pearls, medium and large-sized synthetic diamond, treatment and pricing of colored stones etc. Themes Among the various issues to be considered are: - Production, Gemmological features and pricing of pink diamonds from the mine Argyle. - Consideration and identification of synthetic diamonds (unbound and bound). - Information on the production of synthetic diamond (HPHT-CVD) and means of identification and costing. - Rubies Mozambique Characteristics (Mozambique Rubies) compared with rubies Burma (Burma Rubies). What is the impact of the word ÂŤPigeon BloodÂť in high quality rubies using examples of important stones from auctions.
Poster contest All participants can submit digital files (Gemmological, jewelry, education, jewelery) for the poster competition. The three best posters will be selected by the organizers to 5 June and participants will not be charged an appearance at the event. The best poster will be selected from the participants will win free presence in the next conference to be held in Spain (Spain Meditarranean Gemological and Jewellery Conference 2016). Those interested can find more information in www.gemconference.com or contact the company IGL Hellas (tel. 2103319383, info@iglert.gr, Mr. George Spyromilios cdg) Top Gemmological, jewelery appraisers and specialists composition will offer their expertise in a wide range of issues related
Practical workshop Under the Gemmological sessions will take place and practical workshop (organized CGL-GRS Canada). Theme of the workshop is to learn to use the UV lamp, the polariskopiou and microscope and advanced Gemmological instruments (VISRaman Spectrometers) for identification of more than fifty (50) synthetic diamond (HPHT-CVD Grown and Treated). Speakers The speakers of the conference will be: Dr. Thomas Hainschwang (Liechtenstein) Francesca Peretti (Switzerland) Branko Deljanin (Canada) Wolf Kuehn (Canada) Gail Brett Levine (USA) Fazil Ozen (Turkey) Kym Hughes (Australia) Dr. Joe C.C. Yuan (Taiwan) This is a unique conference for the industry of jewelry and offers the latest information and practical knowledge about gemstones, natural, refined and synthetic.
- 43 apr.-may-jun. 2015 i. 10
gemologies
Hypotonic trade Diamond in April
In April, the index diamond RAPI rose 0.4% to 1 carat diamond
T
he diamond trade remained at subdued levels in April, although prices have stabilized towards the end of the month. However it is estimated that market activity will intensify in the coming period, in the summer months, where wedding ceremonies usually show growth, according to forecasts of the Rapaport Group, as expressed in the recent review of monthly prices. In April, the index diamond RapNet Diamond Index (RAPI), an index compiled at the average asking price for certain diamonds listed on RapNet, rose by 0.4% to 1 carat diamond that is laboratory vrathmologimena. This is a positive development as prices of diamonds under RAPI index crawling for months. However, this class of diamonds are still remarkably affordable in price, than before about a year. The RAPI indicator for diamonds one carat is 14% lower compared to May 1 of last year. While diamonds 1 carat showed a certain recovery in the prices, the RAPI indicator for other diamond sizes continued its downward trend in April. The index was decreased 1% for half carat diamond, 2% for diamonds 0.3 carats, and around the same level for diamonds three carats. Compared to last year’s prices, the RAPI is reduced by 21% for diamonds 0.3 carats, 15% for three carats and 10% for half a carat. In the monthly edition of the Rapaport Group describes the diamond market as “quiet” for April, with the image improved slightly towards the end of the month, as the lack of polished diamonds helped stabilize prices. According to the monthly report of Rapaport, «Modest Markets”, very few new polished diamonds have entered the market. The diamond processing companies refused about 30% of the supply of rough diamonds in the first quarter, and continue to lose money “overpriced” rough diamond, commented the president of the group, Martin Rapaport, the last editorial, titled “Correction market. “In this article notes that the prices of rough diamonds have to recede and the prices of
manufactured to increase that processing companies can benefit and profit to continue on their way. He called on banks to stop funding any ‘scarce’ diamond production and trade forces to create companies with a focus on “floor prices” of polished diamonds. For buyers of polished diamonds, including retailers, M.. Rapaport advises them to “relax and ignore all the noise created by suppliers.”
- 44 apr.-may-jun. 2015 i. 10
gemologies
Sales growth for the Russian diamond giant Alrosa
Editing: Antonia Patrinou
T
he diamond mining giant Alrosa announced that its sales for 2014 increased. According to the Russian state company in previous year managed to sell 39.6 million diamonds. Carat, an amount increased by 4% compared to 38 mil. Carats of 2013. Revenues from sales increased by 23% and amounted to 3.1 billion. dollars. Total Group revenue also rose by 23% as of 2.91 billion. Dollars in 2013 totaled 3.58 billion. Dollars in 2014, with increased diamond sales to be the great protagonist. However, Alrosa and recorded a net loss of 290.1 million. Dollars over of last year because of losses from the ruble-dollar exchange rate. The total production decreased by 2% and amounted to 36.2 mil. Carats. The average value for mean of rough diamonds sold in 2014 also dropped by 3%, from $ 176 per carat to $ 171 per carat, as the increase in average selling price in the market was not enough to balance the reduction recorded the change in the quality of the mixture of extraction products. The Alrosa is the No.1 diamond producer
in the world in terms of production volume and No. 2 in terms of value, behind De Beers.
- 45 apr.-may-jun. 2015 i. 10
economy
He broke the barrier of 21 million. Tourists in 2014
S
trong growth presented by inbound tourism to our country the last two years (2013-2014) as the arrivals of foreign tourists is estimated to have exceeded the record level of 21 million.
2014. Therefore, as noted in the sector study recently released by the Department of Economic Research, ICAP Group, the contribution of the hotel industry in the national economy is significant, with total
- 46 apr.-may-jun. 2015 i. 10
economy
total of nights in different hotel accommodations made by foreigners. According to the results of the sector study, and based on estimates of tourism agents, in 2014 is estimated to have arrived in our country about 21.5 million. Tourists, while according to Eurostat figures one notes that all of the nights made to hotel accommodation in the country ten months of 2014 exceeded the total of nights of the whole year 2013.
Arrivals of foreigners and whole nights in Greece (2008-2014) year
arrivals
overnights
2008
15.938.806
64.073.727
2009
14.914.534
64.292.443
2010
15.007.490
65.059.095
2011
16.427.247
69.138.050
2012
15.517.621
63.054.739
2013
17.919.580
70.089.017
2014*
21.500.000
72.841.000**
* assessment ** Eurostat ten-month figures 2014 Na .: not available Source: ELSTAT
market size of hotels five, four and three star is estimated at over € 3 billion. increased at the rate of around 12% in 2014 compared to 2013. If one considers that Greece is ranked in 17th place in the world ranking by number of arrivals (WTO figures, 2012) The foreign tourists are the main “customer” for hotel business of our country, over 70% of
As noted by Senior Consultant of ICAP GROUP, Constantine Palaeologus, who edited this sector study, the two most important markets for Greek tourism product in recent years are Germany and Britain. Specifically, in 2013 in our country 2.3 million arrived. Germans and 1.8 million. British tourists, occupying a combined market share of approximately 23% of total arrivals. The countries of Europe have covered the vast majority (88% share) of the total arrivals in 2013. Regarding the evolution of tourism revenue, they rose 14.9% in 2013 compared to 2012, while for the 10-month of 2014 amounted to approximately € 13 billion. It was formed (in 2013) to 45.2%, compared with 43 2% in 2012, while the highest average annual occupancy have 2013 hotel accommodations in Crete (60.7%).
Arrivals of non-residents from abroad by country of origin (2011-2013) country
2011
2012
2013
change 2013/12
share 2013
Germany
2.240.481
2.108.787
Britain
1.758.093
1.920.794
2.267.546
7,5%
12,7%
1.846.333
-3,9%
10,3%
France
1.149.388
977.376
1.152.217
17,9%
6,4%
Italy
938.232
848.073
964.314
13,7%
5,4%
Russia
738.927
874.787
1.352.901
54,7%
7,5%
SerbiaMontenegro
692.059
620.450
778.765
25,5%
4,3%
Bulgaria
686.209
599.110
691.874
15,5%
3,9%
Netherlands
560.723
478.483
580.867
21,4%
3,2%
Turkey
552.090
602.306
831.113
38,0%
4,6%
Poland
450.618
254.682
385.474
51,4%
2,2%
Cyprus
439.757
424.827
399.008
-6,1%
2,3%
Belgium
432.625
326.937
344.554
5,4%
1,9%
Austria
310.358
236.416
236.476
0,0%
1,3%
other
5.477.687
5.244.593
6.088.138
16,1%
34,0%
Total
16.427.247
15.517.621
17.919.580
15,5%
100,0% Source: ELSTAT
- 47 apr.-may-jun. 2015 i. 10
economy
Evolution of tourist revenue (2007-2014) year
Tourist Receipts (€ mil.)
rate of change
2007
11.319,2
-
2008
11.635,9
2,8%
2009
10.400,3
-10,6%
2010
9.611,3
-7,6%
2011
10.504,7
9,3%
2012
10.442,5
-4,6%
2013
11.994,8
14,9%
2014 (10-month)
12.995,0
Source: Bank of Greece
“Without a doubt, the fact is that from 2004 and onwards, our country’s hotel infrastructure has been upgraded significantly, as a large number of hotels across the country renovated, while new units of high quality services started their operation,” said Mr. features. Paleologos. Regarding the number of hotel accommodation that operate in our country, in 2013 they worked 9.677 units total capacity of 401,332 rooms and 773,445 beds. It is worth noting that, in the last 10 years the hotel capacity of Greece increased by 800 units, while only for the period 2013/2010 the number of hotel beds increased by about 10,000. In Greece hotels are divided into urban system which are located in urban centers and operate on a yearly basis and the seasonal downtime hotels (resorts), which are geographically scattered in the region and the majority are located in tourist resorts. On the allocation of hotel capacity per category and by geographic region, five hotels and four star representing around 40% of total operating beds, while intense is the geographical concentration, as in Crete, the Dodecanese and the Ionian is concentrated about half of the beds in the country. The Director of Finance and the Sector Studies ICAP GROUP, Stamatina Panteleou notes on the significance and evolution of the industry: “The contribution of the hotel industry in the national economy is significant, with total market size of hotels five, four and three star estimated at over € 3 billion., increased by the rate of 12% in 2014 compared to 2013. Re-
garding the distribution of market size, four-star hotels distract the largest share in the total value, representing 45 % approximately, followed by five-star hotels with a share of around 36% and three stars with 19% share. “ According to the results of the sector study, which covers the time 5 years 20092013, the highest gross profit margin (average 5 years) show the four star hotels (26.66%) and the smallest five-star hotels (14.72 %). Considering both the area and the hotel category, the highest average index 5years present the four star hotels Aegean (60.96%), while a negative value takes the index for five-star hotels in Central Greece - Thessaly (- 10.42%). Regarding net income margin EBITDA, the three star hotels have the highest average five-year index (21.76%). In terms of geographical area and category, the highest average price present the fivestar hotels in Central Greece - Thessaly (39.02%) and the lowest of the four star hotels in Peloponnese (0.92%). Ms. Stamatina Panteleou states that all hotel categories show an average annual return on equity index negative. The five-star hotels have the worst average five-year index (-7.7%). And among the hotels five star positive is the average index of only five hotels in the Aegean (18.18%), while among the four-star hotel, only hotels Cyclades show a positive average 5-year index (1.04%). Among the hotels three star hotels in Attica and the Cyclades show a positive average rate of return on equity (0,32% and 0,82%).
- 48 apr.-may-jun. 2015 i. 10
economy
Rise in exports A quarter 2015 There remains a small contribution of exports in the resulting national product
S
ignificant rise by 14% yoy recorded exports of goods of our country space in January-March 2015, according to a statement today Greek Statistical Authority (ELSTAT) for the Greek foreign trade goods transactions. These exports amount in terms of their value and excluding oil, € 4.4 bn. Euro “It is promising that almost all major export sectors in March 2015 our exports recorded an upward trend, after a continuous decline since the end of 2013,” he said in a statement of the Exporters’ Associa-
tion of Northern Greece, which however notes that it is currently only for a month climb and Greece remains a “closed” economy with a small contribution of exports in output of the country (17.3% in 2014). The first quarter 2015, 54% of our exports (fuel) addressed to countries within EU-28 and 46% to third countries. Sectoral, in all product groups other than mineral oils, an increase in the first quarter 2015, on an annual basis. Exports of petroleum products decreased in value by
Table 1. Greek foreign trade goods transactions (amounts in millions. € without fuel)
Jan-March 13
Jan-March 14
Jan-March 15
ET 15/14
MET 13/15
import
7.269,4
8.111,3
8.116,8
0,1%
5,7%
exports
4.086,3
3.912,5
4.461,6
14,0%
4,5%
commercial Balance
-3.183,1
-4.198,8
-3.655,2
-12,9%
7,2%
Exports / Imports
56,2%
48,2%
55,0%
14,0%
-1,1%
Source: ELSTAT / Edit: IEES-SEVE / ET: Annual Trend / MET: Average Annual Power
- 49 apr.-may-jun. 2015 i. 10
economy
Chart 1. Composition Greek exports by sector, January-March 2015
26.2%, but still contribute with 29.1% share in Greek exports. Largest increase was recorded in exports of fats and oils at 256.8% and essentially returned to 2013 levels Still, growth was recorded in the following sectors: machinery (+ 33.9%), beverages and tobacco (+ 33.6%), industrial goods (+ 17.7%), various industrial (+ 9.4%), raw
materials (+ 7.3%), food (+ 4.2%), chemical products (+ 0.4%). The composition of Greek exports by product groups shown in the following Chart 1, while Figure 2 shows the share of exports by sector in transactions with countries within the EU28 and third countries.
Chart 2. Participation Greek exports by sector in EU-28 and third countries, January-March 2015
- 50 apr.-may-jun. 2015 i. 10