High Jewelry Today. Clients Tomorrow?

Sotheby’s to Auction Jewelry Created for McQueen Catwalks
December 1, 2017
Holiday Windows, a (Sort of) Love Story
December 1, 2017

This post was originally published on this site

Want create site? Find Free WordPress Themes and plugins.

Advertisement

In October, Cartier held a free exhibition at its Fifth Avenue flagship that displayed its newest haute joaillerie collection, Résonances de Cartier, as well as archival pieces once owned by Elizabeth Taylor and the Duchess of Windsor.

“It’s like meeting famous people in real life,” said Katie Sutton, 24, of Ames, Iowa. “You see it in the movies, you see it in pictures, but to see it in real life, it blows you away, to see how amazing and how big they are, to see the quality and to see how it’s made.”

On this particular sunny afternoon, Ms. Sutton was walking through the display in the Manhattan store with her sister, Teran Stark, who lives in Queens. Ms. Stark had heard about the exhibition on Facebook.

In the past, such collections were heralded by invitations printed on snowy-white correspondence cards, addressed in calligraphy and sent to the rich and the worthy. Jewelry houses created displays in rented hôtels particuliers or their own salons, placing new creations on velvet or Perspex stands, lighting for twinkle. And, of course, there was Champagne.

While many collections had such a debut during the Paris couture shows this summer, and Cartier showed a selection of Résonances pieces to clients then, the New York event was something of a strategic move, more concerned about the house’s future than a sale, even a large one, today.

Erica Nagakubo and her son Sage, 3, of Brooklyn, at the Noah’s Ark collection by Van Cleef & Arpels in Manhattan.CreditJennifer S. Altman for The New York Times

The luxury market is changing. Analysts say it is expected to grow 5 percent this year, to an estimated 1.2 trillion euros, or $1.4 trillion — and, for the first time, shoppers born after 1980 are driving that increase. And while a 30-year-old might admire a diamond and emerald parure, it’s really not suitable for yoga class or coffee with friends.

“The selling of the dream is the real essence of how a luxury brand goes to market,” said Nick Pope, Deloitte’s lead analyst on fashion and luxury in Britain. “As part of that, they would, of course, be typically marketing aspects of that dream that are unattainable. You really want to build up your brand equity in the eyes of all the consumers, in recognition that only a few of them are really going to engage with you.”

So along with expanding into contemporary styles (as Chopard did, collaborating with Rihanna) and edgier materials (like Boucheron’s use of wood in its current high jewelry necklaces), major jewelry houses are making outreach an integral part of their global marketing plans.

In the Chelsea neighborhood of New York last month, on a block lined with art galleries, an exhibition inside a former garage displayed several dozen one-of-a-kind brooches created by Van Cleef & Arpels, valued, in total, at more than $10 million.

L’Arche de Noé, or Noah’s Ark, the French brand’s most recent showing of high jewelry in New York, showcased brooches made by hand in white and yellow gold and set with diamonds, emeralds and sapphires. The artist Robert Wilson created the space, using about 15 million LED lights to simulate the view from inside an ark, complete with virtual water undulating all around. In the background, music composed for the project by Arvo Part played in a loop, interspersed with sounds like thunder.

The Cartier haute joaillerie show in October drew youthful viewers. Luxury houses hope today’s young shopper will become tomorrow’s big-gem purchaser.CreditJennifer S. Altman for The New York Times

When L’Arche de Noé was shown in Paris last year, visitors typically had to wait around two hours to get in. (In Hong Kong, in March, the wait was usually about an hour.)

“Only a handful of those at the exhibition were high jewelry buyers,” said Nicolas Bos, chief executive and president of Van Cleef & Arpels. “What we loved about it was that the visitors could fully discover what high jewelry could be about — that it’s not only about big fancy stones for very, very wealthy millionaires but that it was really a work of precision and craftsmanship in touch with the heritage behind it.”

When Bulgari unveiled its renovated Fifth Avenue store in Midtown Manhattan in October, a group of 33 precious pieces designed for the event was placed just inside the entrance, drawing the attention of a stream of passers-by as well as plenty of selfie takers outside. The most expensive item was priced at over $500,000, about 250 times the cost of the plain gold B.zero1 rings farther inside the store.

Showing the high jewelry and the B.zero1 Collection, along with the house’s fragrances, eyewear and leather goods, helps Bulgari — and many other jewelry houses with similar ranges — to groom the young shopper of today to be the big-gem purchaser of tomorrow. “By showing the high jewelry, you create a very high image for your brand and you maintain desirability for the products that people can afford,” said Luca Solca, a luxury goods analyst at Exane BNP Paribas. And, “when people buy the accessibly priced products, they believe that they have been able to buy something from this magic brand that is so revered and loved by the royals and the jet set all over the world.”

“We have the symbols, like B.zero1, that are very strong in our case, but there is also the ultimate expression of the art of the magnificent Roman jewelry which cannot necessarily be expressed to a person by a B.zero1 ring,” said Jean-Christophe Babin, Bulgari’s chief executive. “The high jewelry is really the signifier of the vision — the signature of the craftsmanship as well — and this is what makes you different.” (Festa, the brand’s other recent high jewelry collection, also was shown in New York in October, but in a more traditional way: by appointment to invited guests in an unmarked space around the corner from the flagship, with a guard standing outside.)

The Ecume necklace with platinum, diamonds and yellow fancy light briolette-cut diamonds at the Cartier show, at which more than 200 pieces were on display.CreditJennifer S. Altman for The New York Times

High-end watchmakers are no less aware of the change that has been happening in the buying public. It was one of the motivations for Patek Philippe to stage a free exhibition in July near Grand Central Terminal of around 400 of its expensive timepieces, including current items and antiques such as a clock that sat on President John F. Kennedy’s desk in the White House. The brand has held similar shows in Dubai, Munich and London; an exhibit in Singapore is being planned. Nearly 28,000 people attended the Manhattan show during its 11-day run, which took three years to plan and execute.

“When you do a grand exhibition, it is to move the brand needle,” said Larry Pettinelli, president of Patek Philippe in the United States. “It is a branding opportunity that you want to develop not only something for the expert enthusiast — you want people who know nothing about the brand to also get engaged, so in that educational process you have to think differently about the marketing.”

As comments like those from Ms. Sutton, the Iowa visitor to the Cartier exhibition, indicate, the ability to convey the quality and craftsmanship of creations is one of the primary goals of public exhibitions. After all, houses hope, being impressed is something a future client won’t forget.

Both the Cartier and Patek Philippe shows had artisans working on jewelry and answering questions about their techniques and expertise. The watchmaker’s display also offered five virtual reality headsets, for watching a simulation of a watch movement. “We thought this was a good way to show people, ‘We are not an old, stodgy, stuck-in-the-mud kind of company,’ ” Mr. Pettinelli said.

Of course the business strategy of jewelry houses is focused on profit, but their other goal, supported by such exhibitions, is to create beautiful things.

“In the same way that you go to the [Museum of] Modern Art and you see a Marc Chagall or a Mark Rothko, not everyone can buy, but everyone can feel,” Cyrille Vigneron, Cartier’s chief executive, said one morning at the company flagship. “We don’t expect the exhibition to drive people here where they would have an impulse need to buy — probably not — but the fact that they can appreciate the beauty, I think that’s something important to share.”

Trump Urged G.O.P. Leaders to Help End Russian Inquiry

  • President Trump asked at least three lawmakers last summer if they would put a quick end to the investigation into Russian election meddling, according to several people.
  • It was a highly unusual intervention from a sitting president, which a ranking Democrat called “inappropriate,” but it was played down by the G.O.P. lawmakers as a case of Mr. Trump’s inexperience.

Republican Tax Bill Hits Snag Over Deficit Concerns

  • Senate Republicans scrambled to find ways to raise about $500 billion after some members expressed concerns that the bill would balloon budget deficits.
  • Despite the bill’s rapid momentum coming to a grinding halt, a final vote is expected on Friday after a series of amendments are considered.

White House Envisions Tillerson Ouster From State Dept.

  • The White House has developed a plan to replace Secretary of State Rex Tillerson with Mike Pompeo, the C.I.A. director, within the next several weeks.
  • Mr. Pompeo would be replaced by Senator Tom Cotton, a Republican from Arkansas who has been a key ally of the president on national security matters.

A Generation Is Facing a Lonely Death in Japan

In postwar Japan, a single-minded focus on rapid economic growth helped erode family ties. Now, a generation of elderly Japanese is dying alone.

Lawmakers in Britain were united in outrage after President Trump shared anti-Muslim videos from a far-right group.

Lawmakers responded angrily after the president shared videos from a British far-right group, then rebuked Prime Minister Theresa May.

Matt Lauer Offers Apology (With a Caveat)

  • “There is enough truth in these stories to make me feel embarrassed and ashamed,” Mr. Lauer wrote in a statement.
  • By Thursday, NBC had received at least three complaints related to Mr. Lauer, including from a former employee who said that the anchor sexually assaulted her in his office in 2001.

Advertisement

Did you find apk for android? You can find new Free Android Games and apps.

Comments are closed.