Forget clothes; the red carpet is all about the jewellery now. Would be that of an after-awards morning my in-box would be full of who-wore-what emails. Not any more! Now it’s jewels, all the way down (or pretty much). Yet I can’t help feeling that there’s a difference between fine jewellery and clothes, even really expensive clothes, and the “if-it-worked-for-fashion-it-will-work-for-gems” theory is wrong. Read more
And just like that – OK, just like that with $750 million plus the assumption of up to US$250 million of pro forma net debt – Swatch becomes a major luxury jewellery player. Today they announced the acquisition of the luxury arm of Harry Winston Diamond corporation. It is an image-changing buy.
In holiday time, an acquisition-minded company turns to thoughts of…fine jewellery. Why just buy it for the one you love? Buy it for the ROI! I mean, what else are we to make of the fact that juts over a week after Investcorp’s recent purchase of Georg Jensen, another fine jewellery name is changing hands: Gemfields, the coloured stone miner, has just announced the acquisition of Faberge, the recently revived jeweller-to-the-czars. Read more
Much heart-fluttering in recent days over the rumours that the luxury arm of diamond specialist Harry Winston may be snapped up by either PPR or LVMH. Oooooh! M&A action in the luxury sphere. It’s so hard to resist. Perhaps that why Winston actually issued an official “Nothing doing” statement – albeit with a bit of a sideways wink at possible suitors. It’s lips are saying no, but its eyes….
Today a new report called “Uplifting the earth: the ethical performance of luxury jewellery brands” is being published by Lifeworth Consulting. Authored by Jem Bendell and Ian Doyle, and self-funded, it is geared towards encouraging luxury brands to embrace transparency in regards to their CSR practices by analysing and assessing ten high end brands. More startling, however, is the fact that the report says Chopard, Graff, and Piaget all sell – or say they could sell – rubies from Burma.