12 ° C
Profile

Tag: monaco

A decade of diamonds

by: Cassandra Tanti
02/01/2020

As we enter the 2020’s, Antonio Cecere, President of Geneva Diamond Exchange and Founder of Monaco Diamond Exchange, explains the diamond industry of the past decade and what expectations look like for the 10 years ahead.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”2″ ihc_mb_template=”1″ ]
 
Monaco Life: Ethical sourcing underwent great scrutiny in the recent past. How much does consumer confidence affect the jewellery sector in regards to synthetic and conflict diamonds?
Antonio Cecere: According to a recent poll by Rapaport, consumers lately have grown more concerned to the extent that they are willing to pay more for diamonds that are proven to be natural and ethically sourced. As a result, the Diamond Standards Organisation (DSO) filled the gap between polished diamonds and the Kimberley Process (KPCS), the rough diamond compliance scheme, by implementing a certification system for polished diamonds designed to inform and reassure consumers on the conformity of their purchases.
What were last decade’s expectations and have they been met by the market?
The expectations started very high with China driving demand for the first 18 months and the prices of polished diamonds soaring rapidly. After an excellent start, the market slowed down after 2011 and the prices stagnated until the end of the decade. This is due to macroeconomics and the general state of the economy across jurisdictions; more recently the trade war between US and China also impacted the trade. Overall, the jewellery demand from 2010 to 2018 increased by 16% according to De Beers.
What were the reasons for setting high the expectations and what were the major causes for the slowdown?
China and India were rapidly growing new-markets and their overall size commanded high projections in terms of volumetric consumption. In addition, the knowledge that there will be a widening gap between diamond supply and demand in the following decade also created excitement around this asset class. However, the financial crisis that started in 2008 eventually caught up with the diamond market because consumers’ purchasing power came to suffer and the diminishing bank credit affected cutters and polishers alike.
Is this performance analysis valid for all types of diamonds?
We tend to generalise, but no, this is not valid for all diamonds. Smaller diamonds, less than one carat, are the ones that most suffered whilst on the opposite side of the spectrum fancy colour diamonds had a rather positive 10-year performance across all colours. Typically, pinks and blues outperformed yellows which are slightly more common; reds and greens remained the most sought after although the price tag reflects their rarity.
What can we expect in the next decade?
The world of diamonds has technologically evolved in the last couple of years and so have the purchasing patterns. On-line sales have grown exponentially in the last decade redesigning the supply chain order and, after a reassessment period, diamond prices will continue their historical growth. Quite indicative of this transformation are the results of auction houses that had a decade of jewellery record sales supported by on-line bidders. Sotheby’s, for instance, achieved its biggest 10 jewellery sales ever in the last decade, selling almost 700 items valued at over a million US dollars and 41 items at over 10 million US dollars. Undoubtedly, this trend will continue in the new decade.
What will be the catalysers to the diamonds’ performance in the next decade?
In regards to the ethical concerns, Diamond Standards Organisation is set to reassure consumers on the validity of their purchases therefore re-establishing confidence and connecting Kimberley Process to polished diamonds. Lab-grown diamonds production will be led by De Beers and Swarovski who have the magnitude and the ability to guide the market, set the prices and add transparency to the process. Surely, the closure of important mines like Argyle in 2021 followed by Ekati and Diavik is going to impact the market and limit the global yearly output which will result in the current stockpile to be fully absorbed. Concurrently, the consolidation of the mining sector due to taxation and extraction costs will further benefit overall pricing. Finally, technology will better support the diamond sector both with blockchain innovation and with alternative financing methods like tokenization.
 
[/ihc-hide-content]
 

Louis and Marie Ducruet share wedding video

by: Cassandra Tanti
02/01/2020

Louis Ducruet has given the world a unique glimpse of “the happiest day of his life”, posting a video of his marriage to Marie Chevallier on social media. The son of Princess Stephanie tied the knot with his long-time love in July, but it is clear the couple is still full of emotion five months in.
27-year old Louis Ducruet married 27-year-old Marie Chevallier on 27th July in a fittingly elaborate wedding in Monaco, surrounded by friends and family.
On Monday 30th December, Louis Ducruet published a short video on his Instagram featuring highlights of the day. It includes the couple’s arrival at the Cathedral of Our Lady Immaculate and Marie in her stunning white dress with enormously long train, the ceremony, and all the fun of the after party. They are surrounded by their loved ones: the family of the bride, their friends, and the family of the groom including Prince Albert II and Princess Charlene, Princess Stephanie and her former husband Daniel Ducruet… rare images of the parents of Louis and Pauline, who divorced in 1996.
https://www.instagram.com/p/B6tH6D7lOy5/?utm_source=ig_web_copy_link
“Remembering the best day of this 2019 year! Surrounded by family and friends ❤️ Excited to start this new year with the person I’m proud to call my wife ❤️ I love you”, Prince Albert’s nephew wrote in a caption on the video. The bride, who also shared the video, posted a similar message: “Before jumping into 2020, all I can think about is how amazing this year has been to us ❤️ I love you my soulmate.”
The happy couple also welcomed a new member to their family in 2019: Pancake, a gorgeous dog pictured in a matching Christmas jumper in the couple’s holiday post.
https://www.instagram.com/p/B6gdQ1HlxXb/?utm_source=ig_web_copy_link
 
Top photo: Screenshot of Louis and Marie Ducruet’s wedding video posted on Instagram
 
 
 

Plastic items make 2020 black list

by: Cassandra Tanti
27/12/2019

From 1st January 2020, a number of single use plastic products will be banned in Monaco, including cups and plates. It is the latest step in the government’s plan to have the Principality completely free of single-use plastics within a decade.

“The Principality is resolutely part of an approach to prohibit the use of all single-use plastics,” said Marie-Pierre Gramaglia, Minister for Equipment, the Environment and Town Planning. “This is obvious in view of the impact that plastics have and the danger the pose to the environment, in particular for marine fauna, knowing that the vast majority of plastic micro-waste is discharged into the sea.”

The following items will no longer be available in Monaco in 2020: cotton swabs, plastic cups, plastic cutlery and disposable plastic plates. The move follows the banning of single-use plastic bags in 2016 and plastic straws and plastic mixers in January 2019.

“Fighting single-use plastics also means reducing the greenhouse gases that are generated by their manufacture, transport and disposal,” added Ms Gramaglia. “These concerns, combining biodiversity protection, climate change and improving the quality of life, are at the heart of the action of the Department of Equipment, Environment and Town Planning.”

In a concerted effort to change plastic consumption in Monaco, the Government established a ‘Monaco Waste Prevention and Management Plan’ in 2016, with the aim of meeting its ‘Zero single-use plastic waste by 2030’ policy.

The ambitious objective is in line with European policies and, according to the government, “can be achieved by implementing regulatory provisions and an action plan to support the various players involved and ensure everyone is supported in the transition process.”

The biggest entities to feel the impact of these changes – traders and restaurateurs – will have specific support from the government, including assistance in finding substitutions for prohibited items.

They will also receive a ‘Committed Commerce’ label or a ‘Committed Restaurant’ label if they achieve three objectives: a reduction in plastic tableware use and disposable packaging; a reduction in food waste; and compliance with local and ethical standards.

The government will also distribute information to businesses early in the shedding light on the authorised materials and recommended practices. These sheets will also include single-use items for which there are no restrictions yet, such as plastic bottles and food containers.

 

 

Prince Albert’s daughter releases new single

by: Cassandra Tanti
19/12/2019

Jazmin Grace Grimaldi has released a new song with her rocker boyfriend Ian Mellencamp.

Prince Albert’s daughter released the duet, titled Thankful, on Monday 16th December with her longtime beau.

The holiday song features the pair singing about how thankful they are for eachother’s love. “All I need is your love on this Christmas morning,” sings 27-year-old Jazmin in her sultry jazz style.

The artwork for the song is a black and white photograph of Jazmin and her 33-year-old boyfriend cuddling.

Ian Mellencamp is the nephew of famed singer songwriter John Mellencamp. The musician and former Calvin Klein model released a new album in November titled Romance in D.

Meanwhile, Jazmin released her first single titled Fearless in October.

Thankful is available on all music platforms.

Read also:

Jazmin Grimaldi releases her first single

 

 

Dinner at the Rock

by: Cassandra Tanti
18/12/2019

There’s a new face on the Rock, Portuguese-Australian restaurateur John Contente. With his French chef in the kitchen, this pair is delivering the ultimate French comfort food in a family-style restaurant, far from the hustle and bustle of Monte Carlo.

In an interview with Monaco Life, John talks about why, in just three short months, Le Petit Bar has become such a hit with the locals.

Monaco Life: Can you tell us how you came to be a restaurant owner at the Rock?

John Contente: I was born in Portugal and raised in Australia. I went travelling in my 20s and met a girl in London who was from the south of France. We both moved there in 2005, and my first position involved opening a Four Seasons in Provence, now known as Terre Blanche. As you can imagine, it was a rude awakening coming from London to Provence, so I left that position and started working as a waiter at The Pacific and, once I learned French, I got picked up by Sass Café where I stayed for a few years. Then, The Pacific called me back to take over as manager, so I remained there for about three years, before heading over to the Fairmont and eventually the Italian restaurant Pulcinella for five years. An opportunity to take over Le Petit Bar came along, and after waiting three months for authorisation, we opened in early September 2019.

Why did you feel the need to open your own restaurant?

It has always been a dream of mine since I started working in this industry – to either have my own bar or restaurant. Here, I have both!

Why the Rock?

To be perfectly honest with you, I had only been to the Rock twice for weddings and that was it. But the price was right and the opportunity was there. I was convinced by friends and family to go ahead with it, and when I thought about it – that everything down in Monaco was way out of my price range – I thought why not start up here and see where it takes me?

What was your idea when you took over this restaurant?

My chef Jean-Marc Troussard and I have worked together before, and he wanted to come on this journey with me. His specialty is French food, so we are offering the sort of dishes that people grew up eating, but that you don’t necessarily see in restaurants anymore, like

Blanquette de Veau and sausages with lentils. It is comfort food in a very relaxed environment. We don’t want to work in ties and be too serious, we want people to come up here and feel like they are going home – to their parent’s house for a roast chicken on a Sunday. Obviously, the chef puts his little spin on the dishes but he is also staying true to the classics.

How have you found the response from customers?

Very good. For example, our plate of the day today – roast beef with caramelised shallots and roast potatoes – sold out within the hour. Our prices are also very good, probably too good to be honest. But it is the beginning. We want to get through the winter and see how it goes, and see what our market is for the coming season. We want people to come and try it, like it and enjoy their experience.

At this time of year, you must rely a lot on the day trade and the locals?

Yes, people who work in the Mairie and the Palace come in for lunch, while residents of the Rock come in mainly at night. The previous owner only opened for breakfast and lunch, so the locals were all very surprised and happy to have another option to dine in the evening.

Can you tell us about the produce you use at Le Petit Bar?

Everything is seasonal. What you see here is what you get. We can’t store anything for long periods because we don’t have the facilities, so customers are basically eating everything that is delivered in the morning. Our produce is locally sourced, fresh, and mostly organic. There are only two of us working, so everything here is made by hand. The chef even prepares his own brioche to make the dessert.

It’s an open kitchen so there’s nothing to hide here. It really is like going to your family’s house for dinner…

You can sit here and have a chat with the chef while he is cooking. Some people ask him what they should eat that day, and he will explain what came in that morning and how he is preparing it. The guests love it. That’s what makes the charm of this place, because even if you eat by yourself, there is a show going on behind you in the kitchen.

Can you tell us about the wines you have here?

I change the menu regularly because I want people to try as many different things as possible from Europe and Australia. I have a white and red from Margaret River, Australia, and I also have a white and red from Portugal. All the rest are French wines because it is a French kitchen, but I do want to put my own influence in the menu. We have a gin that’s made in Valbonne, so we also try to have local alcohol too.

How many people can you fit in here?

12 outside and 21 inside, so it’s very cosy and manageable for the two us.

What is your vision for Le Petit Bar?

To be one of the go-to places on the Rock. If you want to eat good, fresh, homemade food, then this should be your number one place to go. Apart from the gastronomic restaurant 50 metres away, the rest of the eateries here are tourist traps – pizza, pasta, sandwiches. We do real food in a laid back, family-friendly atmosphere.

Why should people come to the Rock at night?

For the experience. The Rock at night is completely different to Monte Carlo, which is so busy. There are no cars here and no scooters after 10pm. It is perfect for a romantic night out or a quiet dinner with family and friends. You feel very calm and relaxed up here.

 

Top photo: John Contente. Photos by Pixl Studio

 

Princess Charlene shows support for Leclerc

by: Stephanie Horsman
06/12/2019

Princess Charlene spent a day in Abu Dhabi to support Monegasque race car driver Charles Leclerc for the last race of the Formula 1 season.

The Princess and the driver met briefly before the race, which was held at the YAs Marina Circuit, where she was able to convey her admiration for his achievements and his excellent season.

She also took advantage of her time there to meet with Jean Todt, President of the Fédération Internationale de l’Automobile (FIA) regarding future actions pertaining to road safety, specifically under the framework of the FIA High Level Road Safety Panel, which the Princess has been a member of since 2018.

Leclerc came in third place that day, and fourth in the season standings overall, surpassing his Ferrari teammate Sebastian Vettel.

Princess Charlene talks to Charles Leclerc in Abu Dhabi. Photo: © Eric Mathon /Palais Princier

Smartly decked out in a charcoal grey one piece suit with gold necklaces adorned with her nearly-five-year-old twins’ names, she looked stunning and quite relaxed, despite her hectic schedule.

In a rare interview, the former Olympian turned Princess recently opened up to French publication Point de Vue explaining that she was quite a hands-on type of parent, which leaves her often exhausted and fulfilled in equal measure. She also expressed her pride in the way they very supportively behave with one another, the fact that they speak fluently in both French and English and their flexibility with regard to travel and time spent abroad with both their parents. 

After the race, Princess Charlene returned home to the Principality.

 

Top photo: © Eric Mathon /Palais Princier