It seems that all Hollywood stars are competing to prove who has more diamonds. However, in terms of this rivalry Laurence Graff remarked: "Americans are no longer willing to spend so much on a stone, while the Chinese interest in diamonds, especially colored ones, is growing." The British diamond tycoon is not the only one who got a sense of the growing Asian market. Other competitors who are already operating in this continent are keen to set their sights on the East as well.
2010 was an important year for the upswing of Laurence Graff’s business - this is proved by the $1 billion income he gained. The entrepreneur has confirmed his leading position opening 32 stores scattered around the world. In 2008, he bought 51% of assets in the Safdico Group and thus began to dominate the manufacturing of polished diamonds and trade in these stones. His assets are estimated at $ 3.2 billion and include a collection of Picasso and a resort in South Africa.
The data coming from various luxury sectors around the world give evidence of an increase in the number of rich people worth at least $ 1 million. Merrill Lynch Global Wealth Management in team with Capgemini said in their World Wealth Report that currently there were 10.9 million rich people (+8.3%) on this planet and their wealth was up 9.7% to $ 42.7 trillion, compared with 2007.
Geographically, the highest concentration of moneybags is in the United States, Japan and Germany, representing 53% of all rich people in the world. Asia continues to grow and in 2010 overtook Europe. In Italy, the number of wealthy people has decreased by 4.7%, and in this respect, the country dropped to the tenth place.
In terms of jewelry and watches, demand is on the rise from Russia and the Middle East.
Italy’s Federazione nazionale orafi argentieri gioiellieri fabbricanti (National Jewelry Federation) in collaboration with the Chamber of Commerce of Arezzo issued a report on the manufacturing sector in the segment of fashion and accessories. According to the report, two thirds of Italian jewelry production are exported. However, in the early 2000s jewelry manufacturing began to falter under constant attacks by major competitors from China, India, Thailand and Turkey, which continued to expand their global market share for more than 10 years. In late 2010, gold jewelry production fell by 4.9%. In April 2011, the gold sector in Arezzo suffered a decrease of 3.7% compared with one year ago; the national average decline was 2.5%.
Mainly, Italian jewelry is exported to United Arab Emirates (about one third of the total), France and the United States. Very dynamic development is registered in the markets of Switzerland (68.9%), Turkey (62%), France (57%), Hong Kong (44.8%) and China (42.3%).
Sizable financial results of luxury manufacturers attained this year give them excellent opportunities to invest in their organic growth, increase the level of investment in production facilities and further develop their own retail networks.
Richemont, one of the largest companies in the world, whose portfolio contains stocks of Cartier, Van Cleef & Arpels, Piaget, Montblanc, and net-a-porter.com, expects to earn substantial profits in the current fiscal year.
Strong sales growth across all segments and regions reached 33% coming to € 6,892 million, while jewelry accounted for nearly 50% of the group’s sales. The popular net-a-porter.com web-site posted a growth of 19%. The corporation offered eventual dividends of CHF 0.45 per share.
The past month was more than saturated for one of the world's largest jewelry conglomerates. “Indian consumers have become reliable customers for Italian fashion in the jewelry industry, as well as for well recognised watch brands. The Indian people is seeking the best quality in every sphere," said the Gitanjali Group, a pioneer in manufacturing branded jewelry in India, which rapidly expanded its retail network across the country. In June, the group obtained exclusive rights to sell and distribute expensive Visconti fountain pens in India and Southeast Asia; this will be carried out through its retail network of more than 600 stores selling jewelry. In late July, the first batch of Visconti pens will already appear in Indian stores.
Gitanjali Gems has acquired DIT Group SpA, an Italian jewelry manufacturer, which is known under such names as Stefan Hafner, IoSi, Porrati and Nouvelle Bague.
Over the last six months the segment of expensive watches posted a double-digit sales growth. Swiss watch and jewelry manufacturer Breguet, which is a part of the Swatch Group, plans to double its sales in the Thai market this year. The exchange rate is positively of help to the company’s sales in Thailand where customers can thus buy Swiss watches at a lower price. According to Christophe Viguerie, the managing director of Breguet Thailand, Breguet’s sales in Asia are now much better than in Europe. There is a steady growth in demand in the markets of China, Hong Kong, Taiwan, Singapore, Malaysia, India and Thailand.
The company believes the Thai watch market is probably one of the most competitive in the world. Many new brands have entered it, while old-time players are increasing their marketing budgets in order to remain competitive.
Carrera y Carrera, the Spanish brand of luxury jewelry, after launching its new collection, Mediterraneo, at Basel World last March, has successfully kicked off its sales. The theme of the collection is the views of beautiful sandy beaches of Spain and those of the Mediterranean coast. The combination of two colors of gold and precious stones sparks the magic and enchantment of stories related to the sea. The collection was an innovative project that demonstrates the effect of exceptional combination of shimmering gold and diamonds. The central element in the Mediterraneo Collection is the Atenea necklace consisting of 480 stones, including diamonds weighing 5.5 carats. The necklace is manufactured of 75 grams of gold. Its retail price is € 38,000.
To open its new specialized boutique, Van Cleef & Arpels made every effort to bring modern design closer to the style of its first boutique, which had been opened by Alfred Van Cleef (Alfred Van Cleef) and Estelle Arpels (Estelle Arpels) in 1906. To do the job the company invited designer Patrick Jouin, famous for his work on interior design of Gilt in the New York Palace and the famous French restaurants run by chef Alain Ducasse, Plaza Athénée and Le Jules Verne in the Eiffel Tower. The three-storey boutique of Van Cleef & Arpels bearing a romantic name of Le Temps Poétique will take a place of honor on the Place Vendome in Paris.
The popular aphorism of Honore de Balzac who said that "art was a concentration of nature" served as motivation for Italian jewelry artists Nardelli to implement a new series of jewelry for the spring and summer 2011. Unique large rings and pendants with flowers sparkle with diamonds, emeralds, rubies and sapphires. This collection of precious flowers was a limited edition designed for the Arab market, where it enjoyed a great demand on the part of female customers in Dubai.
An exquisite combination of luxury and glamour was presented again by Damiani. Vice Presidents and designers of the Damiani Group introduced a new and valuable collection of Moon Drops last June in Capri, which was the result of a creative partnership of the famous fashion house in Valencia and designer Ludovica Andreoni Montezemolo, a style and fashion icon.
The designer herself described these works as jewelry speaking about modern women: "Every day a woman chooses some bauble to wear and decide who she will be today. These jewelry pieces with unusual combinations are very feminine, and they reflect the inner world of a person."
A diamond necklace, Shere Khan, handmade by designer Catherine Best was put on auction to raise funds for the Born Free Foundation at a starting price of £300,000. The necklace is a model of perfectionism, which is stressed by its 182 diamonds and other precious stones set into a kilo of 18-carat gold, on which two tigers, a male and female, hold two beautiful precious stones between their paws. The necklace will make anyone’s jaw drop by its magnificence and may be a significant contribution to save tigers from extinction. According to the association protecting animals, there are only 3,500 wild tigers left around the world.
The jewelry that belonged to the famous Evita Peron, the wife of former Argentine President Juan Domingo Peron, was finally found. The diamond jewelry valued at several million euros was stolen in Spain in 2009 in the fraud known in Europe as a "rip deal" (a trick involving substitution of fakes for money or jewelry). The investigation showed how a group of nomads who specialized in this kind of deception pretending to be rich sheiks used to come into contact with jewelry owners and how they managed to convince them to receive cash payment replacing good money for fakes in the box with a double bottom.
British designers were once in the spotlight releasing more and more new extravagant luxury accessories. It took Gucci more than 350 diamonds to create a belt devised by Alexander Amosu. The designer became famous worldwide after his styled transformation of most popular smartphones and Tablet PCs. The Gucci belt will be available at a price of about $6,000.
As always, jewelry manufacturers were ready to come up with some surprises for luxury car lovers. Camael introduced Ferrari diamond pendants for all owners of Red 1160 cars graced with diamonds weighing seven carats.
Damiani, in turn, produced a diamond brooch in a limited edition featuring the famous horse, the symbol of Ferrari cars from Maranello. The accurately shaped brooch of white gold is covered with 442 diamonds weighing 5.5 carats.
To gain the sympathy of their demanding clients Porsche released a limited edition luxury watch with the inscription Porsche Design. The watch made of 18 carat pink gold with a strap of natural rubber is estimated at $ 270,000 and will be released only in 50 copies.
It is time for rugby to become recognized as an elite sport. And Bvlgari is now an official partner of the New Zealand Rugby Union. On the second anniversary of this partnership Bvgari made a significant contribution in the form of an expensive chronograph, Endurer Chronosprint All Blacks Edition, to a charity that provides support for children affected by the earthquake.
Veronica Novoselova, Rough&Polished correspondent in Italy
