I’m writing from Scottsdale, Ariz., where The Centurion luxury jewellery show is being held. There’s no shortage of optimism among the designers and manufacturers exhibiting at this invitation-only tradefair. Big brands and individual designers alike are talking positively about the potential for growth this year.
Manufacturers and designers exhibiting at the show said their booths have been crowded throughout the first two days of the three-day event. I can attest to this as I had difficulties talking to anyone without an appointment because of the business being done.
For example, Thierry Chaunu, CEO of Damiani Americas, talked about the opportunity for the Italian luxury jewellery to become a “big player” in the U.S. He said he is in the process of fine-tuning and realigning their product offering to prioritize their best sellers while introducing new product. One of the new items is a black and white ceramic jewellery line. “It’s very sexy, very Italian,” he said from the brand’s showroom at Centurion.
In addition, Chaunu also said the company will look to re-establish long-term relationships with independent retailers. Currently, the brand has only one branded boutique in the U.S. (in Los Angeles) but it plans to add more. The company is beginning in New York where they recently closed their boutique deeming it too small. It is now in the process of looking for a larger space on Madison Avenue or a similar high-quality shopping district.
Meanwhile, Lisa Nik said she is confident that she has found her place in the market. The independent designer specializes in coloured gemstones with unusual cuts set in 18k yellow, white and rose gold. Her niche is that her jewellery is sold in about US$1,000 to $6,000 range. It’s a place that she said many luxury designers and manufacturers abandoned during the recession and it’s a place she said she is more than happy to fill—particularly now that the economy is slowly getting better. Most of the others went after the more prosperous higher income consumer. The rest abandoned expensive materials like gold in favour of alternative metals like silver to go after the lower end of the market.
“I kind of landed in the middle,” she said. “I’m capturing that niche and that is the niche I want.”
Another designer, Mimi So, known for fine jewellery with graphic designs and organic shapes, is so positive about the future she named her latest gold jewellery collection, Phoenix, after the bird from Greek mythology that is cyclically reborn. The entire collection is based on a feather.
“It’s very special to me this image of rising up through the ashes,” she said.
