Luxury houses have set the bar for growth in the diamond jewelry market — particularly Richemont and LVMH, which rank as the two largest sellers of jewelry through their respective brand portfolios.
At Richemont, those brands include Buccellati, Cartier, Van Cleef & Arpels, and the recently acquired Vhernier. LVMH’s jewelry and watch division encompasses Bulgari, Chaumet, Fred, Repossi, and Tiffany & Co., along with various watch names.
Those labels are gaining market share, in part due to the financial and infrastructure backing of their parent companies — or as Richemont chairman Johann Rupert stresses, the company’s ability to “create goodwill” at its maisons.
The brands are consequently well-positioned to continue on that path, given several trends evident in the market — and the companies’ responses to them.
I explore these and other developments affecting the luxury jewelry segment in my latest piece for Rapaport. It makes for a compelling story about what goes into the creation and maintenance of a jewelry powerhouse.
Initially published in the June Rapaport Research Report, read the full analysis here.
Image and illustration by David Polak & Elisé Jurkovic (Rapaport).
Comments