
Building a Watchmaking Hub in Bahrain
The two-hour presentation in February opened the university's first undergraduate course on watches. Through May, Mr. Qannati and his team are providing lectures and hands-on training in key aspects of watchmaking, from history to assembly to marketing, to about two dozen college students, laying a foundation for the country's horological future.
'There was a huge demand for this course when we first put it on the roster in December,' Mr. Qannati said by phone from Manama, the capital of Bahrain, where he lives. 'But we decided to limit the size of the class because this is a first, and we didn't want it to get out of control.'
Mr. Qannati, a marketing executive at a bank in Bahrain, is also a watch entrepreneur. In 2019, he founded Qannati Objet d'Art, a brand specializing in one-of-a-kind métiers d'art watches designed with intricate dials and sculpted details made from precious materials. Powered by Swiss movements, the Objet d'Art watches are crafted in France.
Since introducing his debut collection in 2022, the Bahrain native has won awards in the Middle East and has sold timepieces to clients from Palm Beach, Fla., to Hong Kong.
In 2024, he decided to pursue another vision: to locally develop Bahraini expertise in watches.
'I thought about producing a collection here in Manama,' he said. 'But the question was how can I do that and help Bahraini society at the same time. That is why I decided to invest in educating our first generation of watch professionals.'
While Bahrain has no watchmaking tradition, the Middle East region is an important consumer of watches. Last year, exports of Swiss watches to the region were valued at 3.8 billion francs, or $4.3 billion, an increase of 622 percent in 25 years, according to figures published by the Swiss watch federation.
Bahrain Polytechnic partnered with Mr. Qannati last year to introduce a watchmaking course led by him. In exchange for his time, he is allowed to use the classroom for his business outside of class hours to produce his Lab Edition watches, the brand's first generation of métiers d'art watches assembled in Bahrain, and a more affordable take on the brand's 'wearable art' timepieces.
'We call the space a lab, but it is a fully functional watchmaking workshop,' Mr. Qannati said.
'The collaboration with Qannati,' Ciarán Ó. Catháin, chief executive of Bahrain Polytechnic, wrote in an email, 'has opened avenues for students to delve into innovative business concepts that might otherwise be unattainable.'
Mr. Qannati said, 'I have a staff of four Bahrainis for the Lab Editions; two in watch assembly, and two in dial customization. By the end of this semester, I hope to hire one of my students to help with watch servicing, which we outsource at the moment.'
The strategy behind Qannati's Lab Edition watches was to expand the reach of the brand with a more accessible price point while preserving its exclusivity. Lab Edition watches retail for $2,000, while the higher-end métiers d'art watches are typically priced in the six figures, depending on the materials used.
Made of stainless steel with a Swiss automatic Sellita SW100 movement, the Lab Edition watches come in two case options: a 41-millimeter round or a 44-millimeter tonneau, or barrel, shaped design, paired with a rubber strap. Above the watch dial, under the sapphire glass, a space is designed to accommodate a small bespoke sculpture, 3-D-printed in resin and designed using A.I.-based technology.
'We use A.I. to create any small three-dimensional design that the client requests,' Mr. Qannati said.
'I say this without shame, A.I. is the principal designer of our Lab Edition,' he said. 'For our Objets d'Art watches, nothing can replace the human touch.'
Since the Lab Edition collection's debut in November, Mr. Qannati said, he has sold 102 pieces online or at trade fairs.
The students enrolled in Mr. Qannati's class come from different educational backgrounds, but all are curious about watches. Half are women. 'Most of the students come from an engineering background,' Muhannad Alqassab, 22, a senior majoring in web media studies, said by phone from Manama. 'I am interested in luxury marketing and in 3-D techniques to design a watch.'
'Everyone here is interested in watches,' Mr. Alqassab said. 'Some dream of owning a watch brand.'
The class curriculum covers the evolution of watch movements, with a comparative study of quartz and mechanical mechanisms. It also delves into watch design and modeling, precision assembly, and customization. Additional modules address luxury branding, A.I.-assisted design, as well as techniques in watch photography and digital presentation.
Next, Mr. Alqassab said, 'We will be assembling our own custom-made watches.'
To graduate from the program, 'every student must design and assemble their own Lab Edition watch,' Mr. Qannati said. 'We will provide only a Swiss quartz movement and a sapphire crystal. The rest is up to them.'
For the hands-on training this month, Mr. Qannati retained the services of Pierre Christe, a seasoned Swiss watchmaker and instructor who taught at Bulgari for 30 years. The two met in Riyadh, Saudi Arabia, in November at a watchmaking seminar hosted by a Saudi influencer.
'I was invited to Riyadh to present a history of watches followed by a watch assembly demonstration to a group of 25 watch fans,' Mr. Christe said by phone from Lausanne, Switzerland, where he lives. 'There was a lot of enthusiasm in the class. Many of the students had expensive watches on their wrist, but few had any notion of what makes a watch tick.'
In Bahrain, Mr. Christe will show the university students how to assemble a mechanical movement from the Swiss company ETA. 'We will do things properly, the Swiss way,' he said. 'It won't be tinkering.'
Looking ahead, Mr. Qannati said he planned to expand this educational model beyond Bahrain and establish similar 'teaching labs' in Saudi Arabia and Qatar. 'The Bahraini government is aware of our partnership with the university,' Mr. Qannati said. 'If we produce tangible results, we might ask for state backing. For now, we are pushing forward on our own.'
'Being in the lab has become the most enjoyable part of my day,' he said. 'We are creating Bahrain's new generation of watch entrepreneurs.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 days ago
- Yahoo
Deckers Sales Soar on Demand for Ugg and Hoka Brand Footwear
(Bloomberg) -- Fuzzy Ugg boots and chunky Hoka running shoes saw big sales gains last quarter, bolstering financial results for parent company Deckers Outdoor Corp. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Net sales for both brands surpassed analysts' estimates in the fiscal first quarter ended June 30. Ugg sales rose about 19% from a year ago, while Hoka increased roughly 20%, Deckers said in a statement. The company's shares jumped as much as 12% in premarket trading on Friday. The stock had fallen 48% this year through Thursday's close. Rival Swiss sneaker marker On Holding AG shares also rose 5.3% in premarket trading. Chief Executive Officer Stefano Caroti has been steering Deckers through tariff pressures while trying to capitalize on the rising popularity of Hoka sneakers in the running shoe category. Its Ugg brand, known for its stout sheepskin boots, has long been a steady winner for the company. Ugg's momentum 'further validates our conviction about the brand's health,' Bloomberg Intelligence analyst Abigail Gilmartin said in a note. 'Hoka also outperformed expectations, as new product upgrades fuel demand.' Deckers reported total sales of $964.5 million in the period, while analysts surveyed by Bloomberg were looking for $901.4 million on average. The company's guidance for the second quarter was roughly in line with estimates. This year, management has been adding more Ugg items that can be sold year-round, such as sandals and lifestyle sneakers. In addition to updating its core products, Hoka raised prices in July on models including its bestselling Clifton shoes in order to cope with higher import costs. Deckers separately announced the nomination of former Starbucks Corp. Chief Financial Officer Patrick Grismer to its board. (Updates with premarket shares in third paragraph.) Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Yahoo
Nestle SA (NSRGF) Q2 2025 Earnings Call Highlights: Navigating Growth Amidst Economic Challenges
Organic Growth: 2.9% in the first half of 2025. UTOP Margin: 16.5%, down 90 basis points. Gross Margin: Decreased by 60 basis points. Pricing: 2.7% increase, with significant increases in confectionery and coffee. RIG (Real Internal Growth): 0.2% in the first half. Advertising and Promotion (A&P): 8.6% of sales in the first half. Fuel for Growth Savings: CHF150 million recognized in H1, targeting CHF700 million for the full year. Net Financing Costs: Slightly higher due to increased average net debt. Underlying Tax Rate: Slightly lower at 22%. Free Cash Flow: Seasonally weaker in H1, impacted by lower EBITDA and higher inventory costs. Net Debt: Increased due to dividend payment, partially offset by CHF2.5 billion from Swiss franc strengthening. Guidance: Full-year UTOP margin expected to be at or above 16%. Warning! GuruFocus has detected 4 Warning Sign with NSRGF. Release Date: July 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Nestle SA (NSRGF) achieved a 2.9% organic growth in the first half of 2025, with broad-based sales growth across geographies and categories. The company maintained a solid UTOP margin of 16.5% despite increased investments and headwinds from tariffs and foreign exchange. Nestle's Fuel for Growth program is on track, with over CHF350 million in savings expected to benefit the P&L in the second half, aiming for a CHF700 million target for the full year. Nespresso delivered another quarter of solid growth, maintaining positive RIG and benefiting from pricing ahead of commodity increases. Nestle is implementing strategic initiatives such as the Nestle Virtuous Circle and digital transformation to drive growth and improve market share. Negative Points Margins are expected to be significantly lower in the second half due to increased input costs and tariff impacts. Sales were negatively impacted by foreign exchange movements, particularly due to the strengthening of the Swiss franc. The Greater China market experienced a negative impact on RIG due to a reversal of previous sell-in growth, and the company anticipates a headwind for up to a year as it shifts its model. The VMS business faced challenges due to the discontinuation of some private label business and weaker performance in mainstream brands. Free cash flow was lower in the first half, impacted by higher working capital requirements and FX headwinds, raising concerns about its ability to cover dividends. Q & A Highlights Q: What is your guidance for COGS inflation for this year, and how does it impact pricing strategies, particularly in categories like Coffee and Confectionery? A: Laurent Freixe, CEO, explained that the company faces unprecedented commodity price increases, necessitating pricing actions. Most of these actions have been implemented, and while there might be slight additional adjustments, the majority of pricing changes are already in place. Anna Manz, CFO, added that COGS inflation is expected to remain high single digits for the full year, with efficiencies offsetting some of the impact. Tariffs are expected to have a small impact, estimated at a couple of tens of basis points for the group. Q: Can you elaborate on the strategic reset in Greater China and its expected impact on growth? A: Laurent Freixe, CEO, stated that the strategic reset in China involves rebalancing the focus from distribution to consumer demand, aligning with the government's agenda to support consumption. This adjustment is necessary due to the current deflationary environment and will have a controlled impact over the next quarters. The company is confident in its leadership and market position in China, expecting strong performance once adjustments are made. Q: How is Nestle addressing the challenges in the VMS segment, and what is the scope of the strategic review? A: Laurent Freixe, CEO, mentioned that the focus will be on premium brands like Garden of Life, Solgar, and Pure Encapsulations, which align with Nestle Health Science's strategic goals. The review includes mainstream and value brands, potentially leading to divestments. The non-strategic brands under review represent about CHF1.2 billion in revenue with low single-digit profit margins. Q: What are the current trends and competitive dynamics in the PetCare category, particularly in the US? A: Laurent Freixe, CEO, emphasized the strong fundamentals of the PetCare category, driven by demographic trends like aging populations and urbanization. While there is little input cost inflation, the category remains healthy with significant growth potential. The company is focused on premiumization and innovation to drive future growth. Q: How is Nestle managing its free cash flow and working capital, given the challenges in the first half of the year? A: Anna Manz, CFO, acknowledged the lower free cash flow in H1 due to margin reductions, FX headwinds, and working capital outflows. The company is focused on managing inventory levels and driving efficiencies to improve cash flow. While cash flow is expected to be lower this year, Nestle remains on track to deliver good cash flow, subject to commodity price movements. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
3 days ago
- Yahoo
ALSO Holding First Half 2025 Earnings: EPS: €3.38 (vs €3.40 in 1H 2024)
ALSO Holding (VTX:ALSN) First Half 2025 Results Key Financial Results Revenue: €5.93b (up 39% from 1H 2024). Net income: €43.0m (up 3.1% from 1H 2024). Profit margin: 0.7% (down from 1.0% in 1H 2024). The decrease in margin was driven by higher expenses. EPS: €3.38. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period ALSO Holding Earnings Insights Looking ahead, revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Electronic industry in Switzerland. Performance of the Swiss Electronic industry. The company's share price is broadly unchanged from a week ago. Risk Analysis Before you take the next step you should know about the 2 warning signs for ALSO Holding (1 is concerning!) that we have uncovered. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.