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Gucci Forays into High-End Jewelry
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Luxury fashion house Gucci has made a move into high jewelrywith the inauguration of its first boutique and a collection by creativedirector Alessandro Michele. The store, which is dedicated exclusively to jewelry,opened on July 2 in Paris’s historic Place...
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Retail
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Jul 07, 2019
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Rapaport News
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Hong Kong Luxury Sees Rare Drop
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Retail sales of jewelry and other luxury items in Hong Kongdeclined for the first time in 17 months as global economic uncertainties impacted consumer sentiment.Revenues from jewelry, watches, clocks and other valuablegifts dropped 3.9% to HKD...
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Retail
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Jan 06, 2019
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Rapaport News
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How Retailers Can Entice Chinese Tourists
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You don’t have to be in China to sell to Chinese people.That’s the message from luxury marketing experts, who point out that tourists,students and immigrants from the world’s largest fine-jewelry consumer have ahuge impact on the...
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Marketing
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Oct 17, 2018
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Joshua Freedman
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Jewelry Sales Up in China and Hong Kong
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Sales of jewelry and other luxury items climbed in greater Chinain May, driven by improved consumer sentiment and a higher rate of tourism toHong Kong, according to government sources. In China, retail sales of gold, silver and jewelry...
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Retail
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Jul 03, 2018
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Rapaport News
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High-End Slump Forces Layoffs at De Grisogono
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Swiss-based luxury jeweler De Grisogonoplans to cut up to 41 positions after a challenging high-end market resulted inpoor sales.“Despite considerable investments and allthe efforts of employees, [salesof high jewelry] have not reached anticipated levels,due in part to challenging conditions...
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Manufacturing
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Apr 11, 2018
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Rapaport News
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Tiffany Restores Growth in Strong Holiday Season
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Tiffany & Co’s sales jumped 8% during the holidayseason amid a sharp improvement in US demand and a recovery in Asian markets,the luxury jeweler reported. Group sales grew to $1.05 billion during November andDecember, with comparable-store sales...
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Retail
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Jan 17, 2018
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Rapaport News
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India’s GJEPC Hires Marketing Chief
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The Gem & Jewellery Export Promotion Council (GJEPC) hasrecruited Ruchita Sharma as executive director for promotions, marketing andbusiness development, the Indian trade organization said Tuesday.Sharma, an experienced luxury marketer and executive, willalso...
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Marketing
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Jan 09, 2018
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Rapaport News
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Jewelry Buyers Still Desire In-Store Experience
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Consumers still prefer speaking with jewelers before makinga purchase, despite the recent rise in online purchases, a survey has found.Some 64% of people who bought jewelry visited a store to consultwith an expert while deciding what...
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Retail
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Dec 18, 2017
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Rapaport News
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LVMH Sees Strong Jewelry and Watch Growth
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LVMH Moët Hennessy Louis Vuitton’s revenue from jewelry and watches increased 8% year on year to $1.12 billion (EUR 951 million) in the third quarter. Overall group revenue jumped 14% to $12.26 billion (EUR 10.38...
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Retail
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Oct 10, 2017
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Rapaport News
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Sotheby’s Frank Everett U-Turns on Graff Move
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Sotheby’s jewelry executive Frank Everett returned tothe auction house last week after a brief stint at Graff Diamonds.Everett (pictured) left Sotheby’s at the end of June to join London-based Graff as its US salespresident, and on July 6 posted...
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Polished Markets
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Aug 23, 2017
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Joshua Freedman
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Garrard Launches First Shanghai Store
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Garrard has opened its first boutique inShanghai, the London-based luxury jeweler announced last week. To celebrate the launch, Garrard — whichhas been in business for nearly three centuries and served as Great Britain’s crownjeweler...
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Retail
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Aug 13, 2017
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Rapaport News
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Asia and Europe Boost LVMH Jewelry Sales
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Revenue from jewelry and watches at LVMH Moët Hennessy LouisVuitton jumped 14% in the first half, supported by growth in the Bulgari brandand resurgent demand in Asia and Europe.Sales for the division grew to $2.16 billion...
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Retail
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Jul 27, 2017
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Rapaport News
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Graff Diamonds Intl. Sales Slide in 2016
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Graff Diamonds International’s revenue and profit dropped last year, according to the luxury jeweler’s latest financials.Sales fell 10% to $569.6 million in 2016, while profit slumped 66% to $15.8 million, the recent filing showed....
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Retail
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Jul 12, 2017
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Joshua Freedman
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Cartier Releases New ‘The Proposal’ Films
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Cartier has followed up on its acclaimed “The Proposal”commercials by publishing two new videos on social media this week. The clips tell two separate stories of couples who meetby accident and — spoiler alert — develop a relationship...
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Retail
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Jun 21, 2017
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Rapaport News
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De Beers: Women Self-Purchasing More Diamonds
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Millennials are increasingly buying diamond jewelry forthemselves, helping drive retail sales in the US to record levels, according toresearch by De Beers.Sales of bridal jewelry have been stable in markets wherethere is a tradition of giving engagement rings, but other...
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Retail
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Jun 04, 2017
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Rapaport News
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Jewelry Sales Shine for Richemont
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. Jewelry sales at Richemont — owner of Cartier and Van Cleef & Arpels — increased 7% in the past fiscal year,standing out as a rare growth sector for the luxury group.Revenue from the category rose to $4.55 billion (EUR...
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Retail
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May 14, 2017
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Rapaport News
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Bulgari Boosts LVMH Jewelry Performance
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LVMH Moët Hennessy Louis Vuitton’s watch and jewelry sales grew 14% in the first quarter as its Bulgari brand continued to gain market share. The luxury house saw double-digit growth across all its...
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Retail
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Apr 12, 2017
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Rapaport News
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Kering Jewelry Sales Gain in 2016
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Luxury group Kering reported a 2-percent rise in jewelry sales for 2016, attributing growth in its mid- and lower-range products.Revenue from Kering’s jewelry brands, which include Boucheron, Pomellato, Dodo and Qeelin, reached approximately...
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Retail
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Feb 13, 2017
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Rapaport News
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Tiffany CEO Cumenal in Shock Departure
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Tiffany & Co.’s chief executive officer FredericCumenal has stepped down with immediate effect.Chairman and former CEO Michael Kowalski will take over fromCumenal as interim CEO, according to a statement on Sunday. Cumenal (pictured) has...
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Retail
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Feb 06, 2017
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Rapaport News
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Richemont Watch Brands Get New Leadership
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Richemont announced the appointment of new heads at four differentbrands, including three luxury watchmakers.Chabi Nouri, currently managing director for marketing andsales at Piaget, will replace the timepiece brand’s CEO PhilippeLeopold-Metzger on April 1, a spokesperson for...
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Watches
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Feb 02, 2017
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Rapaport News
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