Autumn turns into open season for high jewellery launches

Jewellery houses have traditionally aligned the presentations of their high jewellery collections with Paris Haute Couture Week: every summer and January. This autumn, however, another high jewellery season has emerged, following the success of occasional brand-led events in previous years.

“Presenting new collections in autumn brings multiple strategic advantages, as the season coincides with a natural increase in high-net-worth consumer activity,” says Federica Levato, senior partner and Emea leader of fashion and luxury at consultancy Bain & Company. She says autumn is when luxury shoppers start making lists, “particularly in western markets where holidays like Christmas, Hanukkah and New Year are prime gift-giving occasions”.

Since jewellery is, according to Bain, one of the few luxury goods categories that has withstood the economic downturn (third-quarter sales at LVMH’s fashion arm fell 5 per cent, while Kering saw a 16 per cent drop for the same period), brands have been quick to seize on another moment in the year to sell more of it.

In fact, jewellery chief executives quietly admit they have never sold as many $1mn pieces as they are doing now, although they acknowledge a slowdown for entry-level ranges.

More sales are expected. Piaget, continuing the celebratory spirit of its 150th anniversary, is partnering with Abu Dhabi’s tourism board to host an event this month to unveil the second chapter of its high jewellery collection, Essence of Extraleganza. This presentation will feature new pieces fresh from the workshop, as well as a new “Andy Warhol” watch.

Benjamin Comar, Piaget chief executive, says this latest event stems from a simple realisation. “Clients are ready to purchase at different moments,” he says. “It’s all about the experience and being close to them.” Piaget has made a point of cultivating relationships by presenting pieces to clients outside the traditional showings.

Dior has also chosen Abu Dhabi to present the second chapter of its Diorama & Diorigami high jewellery collection this month, after unveiling the first chapter in Florence in May. Meanwhile, Tiffany & Co used the opening of its new store in Madrid to treat a select group of clients to the third chapter of its animal-inspired Céleste collection.

“Madrid has been a booming city for luxury over the past three years,” says Anthony Ledru, the brand’s president and chief executive. “We are immensely committed to our clientele in Spain and see incredible growth potential in the market.”

While European jewellery houses often unveil their second autumn chapter outside Europe, analysts say that LVMH-owned Tiffany most likely chose Madrid as part of its strategy to bolster its high jewellery credentials on the continent — where it is better known for bridal and entry-level offerings.

“Europe remains a magnet for high-end luxury shoppers, and we are investing heavily in key flagships to offer a flawless client journey,” Ledru explains. “The house has an incredibly rich history in Europe, and we’ve been able to honour this legacy and authentically expand our reach across the region.”

In May, Tiffany opened a high jewellery boutique at London department store Harrods and, for four weeks from late September, took over Selfridges’ shop windows to showcase its iconic designs alongside artworks by renowned artists such as Damien Hirst and Rana Begum.

“Europe is where jewellery maisons make their reputation among the most sophisticated global clientele, particularly for high jewellery,” says Mario Ortelli, managing partner at luxury sector consultancy Ortelli&Co. “If Tiffany wants to develop its high jewellery business, Europe — particularly London, Paris and key resort locations in Italy and France — is a strategic location to focus their retail and marketing investments.”

As Bain’s Levato notes, “autumn is also a time for fashion and lifestyle events. Presenting collections during this season allows jewellery houses to capture media attention and generate buzz among affluent clientele attending these events.”

Cartier introduced its new Tuttitutti collection — a reinterpretation of the house’s Tutti Frutti style, which mixes gems of various colours — during the Venice film festival, which it sponsored, in late August and early September.

Bulgari, meanwhile, chose New York Fashion Week in September to unveil its latest Tubogas collection, which spans various price points, including high jewellery. “Our artisans never stop crafting, and this allows us to permanently entertain our clients,” says Bulgari chief executive Jean-Christophe Babin, who adds that trunk shows are planned alongside a show in Dubai, in December.

Messika has already established its place at Paris Fashion Week (in late September and early October) with its fashion-jewellery show. “The jewellery fashion show during Paris Fashion Week has become a cornerstone of our brand’s identity,” notes Valérie Messika, the brand’s founder. “It’s not just about presenting new collections but creating a spectacle that merges fashion and jewellery,” she says. “This event has strengthened Messika’s international visibility, attracting new clients and elevating our position.”

Richemont-owned Montblanc always chooses a moment away from the usual high jewellery calendar to unveil its unique offering of pens set with precious gems. And this year’s iteration of the brand’s Great Characters range is a homage to F Scott Fitzgerald’s novel The Great Gatsby, which was published in 1925 and epitomises the jazz age.

It is an approach that resonated with another Richemont brand: this year, Van Cleef & Arpels skipped the summer high jewellery season and is flying its clients to Miami for the unveiling of Treasure Island, a collection inspired by the Robert Louis Stevenson novel. “We wanted to be literal,” says Nicolas Bos, Van Cleef & Arpels’ former global president and chief executive and, since June 1, Richemont chief executive. “We wanted to be on a pirate island with our feet in the water, under palm trees, with exotic birds. Miami is a place that is easily accessible and where the maison has a presence.”

It is no surprise the brand chose this city, given its appeal to the ultra-rich. A Bloomberg analysis revealed that a typical home in its priciest area was valued at $40mn in 2022. The city is now a top destination for luxury buyers, thanks to its favourable tax system and cultural events such as Miami Design Week and Art Basel.