Luxury Industry’s Transformation in the Wake of the Pandemic
The pandemic served as a catalyst for change across numerous sectors, with the luxury goods industry experiencing a notable shift towards sustainability and digitalisation. These factors are now poised to play a more significant role in the strategic approaches of major industry players.
Historically, luxury jewellers have provided their customers with bespoke services, expert guidance, and a reassuring presence. The challenge now lies in ensuring that these qualities are preserved in the online shopping experience. With initiatives like fair-trade gold and other sustainable practices, these companies are also well-positioned to attract the loyalty of younger consumers who value ethical and environmentally responsible choices.
The allure of life’s finest luxuries remains robust, with expectations for the fine jewellery market to grow by up to four percent annually.
Luxury jewellers, supported by rich histories and an elite clientele including royalty, have shown an ability to adapt to changing times while upholding their commitment to exceptional craftsmanship and tradition. The founders of renowned global jewellery houses like Bulgari and Cartier have dedicated their lives to perfecting their craft, ensuring their brands’ continued relevance through evolving trends.
Bulgari
Bulgari, founded in 1884 by Greek silversmith Sotirio Bulgari, is known for its unconventional approach. The brand’s use of vivid gemstones, sensual shapes, and sharp lines drives its creativity across an expanding array of products including jewellery, watches, and accessories. Iconic designs such as blooming flowers, coin jewels, and the serpent have become synonymous with the brand. In 2011, Bulgari joined the LVMH Group to further its growth strategy and enhance its international stature.
Boucheron
Founded in 1858 by gemologist Frédéric Boucheron, the maison was the first jeweller to establish a boutique on the prestigious Place Vendôme in Paris. Boucheron’s high-end jewellery and timepieces are inspired by nature and infused with elements from various cultures. The brand boasts a prestigious clientele including Napoleon III’s Italian mistress, members of the Russian royal family, and French singer Edith Piaf. Boucheron’s designs, which have evolved through four generations, are celebrated as timeless classics. The brand is now part of the French luxury group Kering.
Chopard
Chopard distinguishes itself in the realm of high jewellery and watches as a family-run business characterized by creativity and audacity. Since 1998, Chopard has crafted an annual collection for the Cannes Film Festival, with the maison’s artisans dedicating around 40 hours to create the prestigious Palme d’Or trophy. The Lacy Heart pendant from the 2021 Red Carpet Collection radiates positive energy and embodies motifs central to the brand’s identity.
Cartier
Founded amidst the French Revolution by Louis-François Cartier in Paris, Cartier is celebrated for its timeless icons like the Tank watch, Juste un Clou, and Love bracelets, inspired by medieval chastity belts. The brand has pioneered bold innovations, such as the use of platinum in jewellery and the transition from pocket to wristwatches for men in 1904. Known as the “Jeweller of Kings and King of Jewellers,” Cartier’s clientele has included royalty from Portugal to Egypt.
Tiffany & Co
Established in 1837 by Charles Lewis Tiffany, Tiffany & Co. began as a small stationary and luxury goods store in New York City. The brand expanded under the influence of designers like Jean Schlumberger, Elsa Peretti, and Paloma Picasso, who introduced playful sculpted pieces. Tiffany is renowned for unveiling some of the most impressive diamonds and colored gemstones, such as the 287.42 carat Tiffany Diamond discovered in 1878. The iconic Blue Box symbolizes the brand’s global recognition.
Piaget
Since the 1960s, Piaget has been renowned for its bespoke jewellery pieces adorned with diamonds, lapis lazuli, and rose gold. Originally established in 1874 for its excellence in watchmaking, the Swiss maison is known for elegant and playful designs featuring rose and heart motifs. Significant creations include rings with bands of brilliant-cut diamonds that rotate, exemplifying the brand’s sophisticated goldsmithing technique known as Palace Decoration.
Mikimoto
Founded by Kokichi Mikimoto, who created the first cultured pearls in 1893, Mikimoto is known as the “Pearl King.” The brand is distinguished by its high-quality pearls and elaborate presentations at international fairs. Mikimoto’s pieces are characterized by a distinct M logo charm, honoring the founder’s legacy of perfectionism and vision that continues to influence the brand today.
Graff
Graff, established by Laurence Graff in 1960, embodies a spirit of adventure and risk-taking. The brand’s jewellery is designed to move with the body, giving the appearance of diamonds floating with minimal metal settings. Known for its dedication to absolute perfection, Graff’s creations highlight diamonds as the focal point. As a family business, Graff handles every step of production and sales in-house, ensuring a seamless blend of artistry and quality.
