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DJWE Promotes 20th Edition with Irina Shayk, Thierry Henry

Irina Shayk and Thierry Henry from DJWE's promotion film.
Irina Shayk and Thierry Henry from DJWE's promotion film.
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DJWE Promotes 20th Edition with Irina Shayk, Thierry Henry

Irina Shayk and Thierry Henry from DJWE's promotion film.
Irina Shayk and Thierry Henry from DJWE's promotion film.

The countdown for the Doha Jewelry and Watches Exhibition (DJWE) has started, and so have the preparations to host thousands of guests from the industry and around 500 luxury brands.

For over two decades, DJWE has emphasized its position, not only as a showcase of the world’s most exclusive jewelry and timepieces, but also as “a key driver of development and advancement, promoting Qatar’s position as one of the fastest growing tourism destinations in the region,” said Hessa Al-Thani, head of marketing planning at Qatar Tourism.

Running from February 5 to 11, the exhibition promises its visitors a wide variety of creations and special editions.

The preparation for the highly anticipated event started months ago. Visit Qatar unveiled its new “Jewelry Connoisseurs” campaign for the event, featuring supermodel Irina Shayk and iconic French football Thierry Henry.

Directed by Luca Caon and fashion photographer Rowan Papier, the film shows the two stars with an exclusive collection of extraordinary jewelry and timepieces with the support from the five biggest exhibitors of the event: 51 East, Ali bin Ali, Alfardan Jewelry, Al Majed and Bulgari.

While Shayk and Henry come from two different worlds, they are both passionate about fancy jewelry and timepieces, and this passion clearly manifests in the promotion campaign. The film shows the supermodel and footballer arriving at the exhibition and exploring what it has to offer.

“Throughout my career, I have always appreciated the best in design and luxury. I am a keen follower of the watches industry and admire the dedication, expertise and years of training required for the creation of a timepiece. I am really excited to experience the entire Doha exhibition and all that it has to offer and will be on the lookout for special pieces, designers, and craftsmen,” said Henry, commenting on his film debut for DJWE.

“I am happy and eager for more exploration, and I know their pieces will become family heirlooms to be passed down generation after generation,” said Shayk.

Acclaimed Director Luca Caon and photographer Rowan Papier created a masterpiece of beauty and intrigue. “What is very interesting about this film is that it is of a hybrid genre, between a commercial and fashion film,” said Caon.

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Fashion

LVMH Shares Drop after Missing Second-quarter Estimates

A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
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LVMH Shares Drop after Missing Second-quarter Estimates

A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights

Shares in LVMH (LVMH.PA) fell as much as 6.5% in early Wednesday trade and were on track for their biggest one-day drop since October 2023 after second-quarter sales growth at the French luxury goods giant missed analysts' consensus estimate.

The world's biggest luxury group said late Tuesday its quarterly sales rose 1% year on year to 20.98 billion euros ($22.76 billion), undershooting the 21.6 billion expected on average by analysts polled by LSEG.

At 1000 GMT, LVMH's shares were down 4.5%.

The earnings miss weighed on other luxury stocks, with Hermes (HRMS.PA), down around 2% and Kering (PRTP.PA), off 3%.

Kering is scheduled to report second-quarter sales after the market close and Hermes reports on Thursday, Reuters reported.

Jittery investors are looking for evidence that the industry will pick up from a recent slowdown, as inflation-hit shoppers hold off from splashing out on designer fashion.

JPMorgan analyst Chiara Battistini cut full year profit forecasts by 2-3% for the group, citing softer trends at LVMH's fashion and leather goods division, home to Louis Vuitton and Dior.

"The soft print is likely to add to ongoing investors’ concerns on the sector more broadly in our view, confirming that even best-in-class players like LVMH cannot be immune from the challenging backdrop," said Battistini in a note to clients.

The weakness of the yen, which has prompted a flood of Chinese shoppers to Japan seeking bargains on luxury goods, added pressure to margins, another source of concern.

Equita cut 2024 sales estimates for LVMH by 3% - attributing 1% to currency fluctuations - and lowered its second half organic sales estimate to 7% growth from 10% growth previously.

The lack of visibility for the second half beyond the easing of comparative figures - as the Chinese post-pandemic lockdown bounce tapered off a year ago - is unlikely to improve investor sentiment to the luxury sector, Citi analyst Thomas Chauvet said in an email to clients.

"No miracle with the luxury bellwether; sector likely to remain out of favour," he wrote.

Jefferies analysts said the miss came as investors eye Chinese shoppers for their potential to "resume their pre-COVID role as the locomotive of industry growth and debate when Western consumers will have fully digested their COVID overspend".

LVMH shares have been volatile since the luxury slowdown emerged, and are down about 20% over the past year, with middle-class shoppers in China, the world's No. 2 economy, a key focus as they rein in purchases at home amid a property slump and job insecurity.

LVMH offered some reassurance, with finance chief Jean-Jacques Guiony telling analysts during a call on Tuesday that Chinese customers were "holding up quite well," while business with US and European customers was "slightly better".