AUTORE Launches New Website 03/11/10

While we are on the topic of fine jewellery, Australia’s South Sea pearl & jewellery design company, AUTORE, has recently launched its pearl jewellery online, with the release of their new website www.pearlautore.com The website has been designed to showcase their stunning jewellery, as well as provide information regarding purchasing, stockists, etc. The site also includes extensive ‘pearl education’ allowing you to ‘grade your own pearl’ by the ‘AUTORE Five S’s’ of Shape, Shade, Size and Surface. Definitely worth a peek!

Image credit: collinsjewellers.com.au

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Diamond-Clad Canturi Barbie Sold At Auction 26/10/10

Canturi is one of our favourite fine jewellery designers, here at the MO Down. We have commented time and time again on the rise of brand-collaboration. We are happy to see this name involved in such a unique style of partnership. Mattel are an empire of mass-production, but they certainly own their share of luxury. Limited edition Barbies are hardly dime-a-dozen. Barbie is one of the world’s most beloved celebrities. So famous, she lives in the league of Madonna, sans last name. Italian designer Stefano Canturi custom-designed a Barbie doll, including a specially designed necklace featuring a one-carat Fancy Vivid pink diamond and three carats of white diamonds (shoes to match, of course).

The Canturi-designed doll was finally sold at a Christies auction, after the completion of her world tour. According to a press release from the auction house, ‘The World’s Most Expensive Barbie’ was sold at auction for an incredible $302, 500– all of which went to charity. Whether her destiny lies as world’s tiniest trophy wife, or some very extravagant plaything, we think she looks a million dollars. It is certainly a further sign of the times and economic recovery. We wonder what Ken would get if he was bejewelled? The other day, Bulgari set a Christie’s record with the sale of its blue diamond… the coloured diamonds are getting a serious workout this week.

Image credit: luxurioustoday.com

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Diamonds... An Investor's Best Friend? 20/10/10

As previously reported by the MO Down, recent auctions of rare fine diamonds, gemstone and jewels have brought in unprecedented sales. It seems that diamonds are the new currency an affluent few are hedging their bets on. More than 450 pieces of jewellery drew at least $40 million in a Christie’s auction this week from buyers seeking to hedge against financial risk. Diamond prices have risen 20 per cent since last year, perhaps reflective of uncertain times for stocks and currencies. No doubt the price of diamonds is set to increase.

On October 20, the “Jewels: The New York Sale” will feature the Bulgari Blue Diamond for auction, likely to sell for $12 million (USD of course). Purchased in 1972 for $1 million this is the largest blue diamond to ever be offered at auction. The auction will also feature diamonds from Cartier, Van Cleef & Arpels and Boucheron. According to Christie’s, sales of jewellery has risen 75 per cent since this time last year!

Image credit: dailygalaxy.com

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The Age Of Philanthropy- Luxury Brands and CSR 1/10/10

A few weeks ago, we talked about Corporate Social Responsibility in China. Personal philanthropy is all the rage among the Chinese ‘nouveau riche’ at the moment, and consumers are increasingly conscious of corporate generosity- or lack thereof. But its not just China, consumers all around the world are calling for greater transparency and it may be time for high-end labels to pick up their game. Luxury brands have been surprisingly slow to respond to this attention to their actions, with a few exceptions, see Bulgari.

This week, the World Jewellery Confederation released a ‘Responsible Luxury’ report, analysing the development of CSR in the jewellery industry. Contrasting Tiffany & Co’s proactive efforts with De Beers’ notoriety for buying ‘conflict diamonds’, it has created a stir and shone some light on important social issues.

Interestingly, the luxury industry usually escapes regulation. With the exception of labour standards within individual countries, it is tricky to police the sourcing of materials from all over the world. Often consumers don’t actually think about where the materials come from. All this is changing. With increased attention to what goes on behind the scenes, it seems that consumer demand will regulate just fine. Brands such as Cartier, Tiffany, Rolex and Chopard can use their ‘Forever mark’, which guarantees their product was produced with integrity, in their marketing, and everybody wins.

Consumers don’t want luxury that has been tainted. There’s nothing glamorous about a human rights violation.

eBay Defeats Tiffany & Co- Fakes Not Its Fault 15/9/10

It seems that eBay is under scrutiny lately, accused of being a vendor of fake goods. Last week, the MO Down reported on a suit initiated by luxury giant LVMH. On Monday, eBay won dismissal of a lawsuit by Tiffany & Co, that accused the website of deceiving customers and selling counterfeit jewellery. Ultimately, its an issue of trademark infringement, and Tiffany think eBay have been involved in false advertising. Interesting, given that eBay simply host other people’s transactions and are not involved directly with trademark violations. While this does not make counterfeiting their fault, some would say eBay facilitates the sale of fake goods, and that this therefore implicates them in harbouring those actually responsible. Nonetheless, the ruling has been hailed an indisputable validation of eBay’s business practices, and the world’s largest online auctioneer can rest easy.

Image credit: nydailynews.com

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Bulgari SpA Is Expected To Shine - 01/09/10

Bulgari SpA CEO Francesco Trapani has stated this week to the Wall Street Journal, of his confidence that the company can see an “aggressive rise” for this year. Last month, Bulgari’s second quarter net profit was reported at 600,000 euros ($763,300), and the company are expecting this to improve, alongside an increase in dividend.

Trapani expressed his confidence in the company’s future, yet also reminded us that Bulgari is not for sale- as companies like Switzerland Swatch have been interested in the purchase. While we wait, the result is sure to speak for itself!

Image credit: bulgari.com

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Tiffany & Co Second Quarter Results - 30/08/10

Last week we brought you Tiffany & Co’s debut handbag collection launch, but the news this week focuses on the brands second quarter results. Although economic analysts forecast the results high, the company fell just shy of expectations. However, Tiffany & Co brought positive news that revenue rose to $668.8 million in the quarter which ended on July 31st (analyst forecasts were set at $690.8 million on average.)

In addition, net income “rose 19 percent to $67.7 million, or 53 cents a share”, as Tiffany fell $1.33 or 3.2 percent to $40.71 at close of business on 28th August, in the New York Stock Exchange. It’s clear that the Americas are dragging down the net for the company overall as they make up “more than half of the total at Tiffany’s, which operates more than 220 stores worldwide. In Asia however, there was a 21% increase which resulted in a staggering 19% profit gain.

However, we have faith that the new debut handbag collection should strengthen the next quarter, given it's a new product injection and curiosity amid the publicity should certainly account for some strong sales.

Image credit: tiffanyandco.com

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Sky Blue Moment As Tiffany & Co Handbag Collection Launches - 27/08/10

It’s the moment Tiffany & Co lovers have all been waiting for- the launch of their debut handbag line. We previously brought you pre-launch info on the exclusive line, and now the designs are out on the market for all to see. Although “roughly 90% of the luxury chain's sales remain in jewellery”, the new handbag collection features a range of stylish designs starting at US$395 and leading up to a luxury large crocodile skin handbag (priced at US$17,500)

Whilst Tiffany & Co’s signature jewellery designs range from entry price point of US$200 for sterling silver to an average bridal piece of US$3,300, the handbags seem well priced and in line with the pricing strategy of the brand for existing products.

With the market showing grand signs of renewed retail life after the recession, we think the Tiffany & Co handbag line will prove popular, and we have to say they look pretty fabulous! We have our eye on the Manhattan satchel in violet glazed crocodile (with Tiffany blue accents on the hardware of course) but aahh that would be one of the more expensive!

We look forward to seeing the new designs in Australia and we are happy to offer assistance in removing some of that table ware in order to display this cleverly put together and 'in and on themed Tiffany range' by designers, Richard Lambertson and John Truex.

Image credit: online.wsj.com

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Is Bulgari's Stock of Timepieces The Issue? 23/8/10

Why is it that Bulgari Spa's stock prices (the owner of Bulgari the Roman jewellery company established in 1884) is not in line with most of the other luxury goods conglomerates such as LVMH Group, PPR SA, Richemont and Prada and Hermes? Bulgari, the world’s third-largest jeweller, fell 2.6 percent to 5.72 euros, the stock’s lowest price in almost three months. According to a Bloomberg.com article Standard & Poor’s Equity Research reiterated a “sell” recommendation on the stock, saying in a note that “we fear that a relatively slower-than-peers business recovery could disappoint investors betting on Bulgari’s late- cyclicality and leveraged operating profile.” Bulgari's peers have been tracking ahead of forecasts mostly consecutively over the past four quarters ensuring positive news stories and commensurate positive stock prices for those listed brands.

As reported in The MO Down earlier this month "Bulgari Finding Things Tougher Than French Counterparts" Snr Trapani, the brand's CEO is certainly not sitting back, he is being pro-active and has already introduced some lower priced jewellery items in addition to increasing the prices of 'some' timepieces. The issue that seems to be handicapping Bulgari's return to stronger growth is in fact its timepieces. As reported on the Bulgari Group 29 July Press Release, "during the half year in question, all product categories, with the sole exception of watches, contributed positively to growth. Jewellery rose by 10.5% at comparable exchange rates (+14.8% at current exchange rates)." However, watch (timepiece) sales decreased by 4.6% (-1.2% at current exchange rates).

The company goes on to say if sales of Roth and Genta brand watches were eliminated and sales of the watches exhibited at Basel which at that time were delivered in the second quarter - the watch category actually grew by 14%. The next quarter and half year results will ensure this comment is justified and cleansing some other branded inventory timepieces within their portfolio should ensure Bulgari Spa has a cleaner slate and will commence to operate in line with its luxury stable mates. With timepieces representing 24% of the revenue it is the second and most significant product category.

Image credit: www.bulgari.com (Bulgari moon-phase watch for ladies)

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Jewellery Raid At De Beers And Omega: London - 19/08/10

The criminals are out in force, as De Beers and Omega stores were targeted in raids in London, last weekend. The thieves took an estimated value of goods worth $596,000. Police and the stores have suspected four men who arrived and left in a red BMW. Whilst De Beers are working closely with the police, they have assured their clientele that their 3 other stores will remain open for business.

Image credit: debeerseu.com

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The Beauty Of Pearls- Autore's Latest Ring Designs - 10/08/10

They say diamonds are a girl’s best friend, but we believe diamonds and pearls together are even better! The latest addition to the Autore family is the Doge Palace Reflection Ring, as part of the Venezia collection. The ring features a 16mm South Sea pearl, white diamonds, pink sapphires and all set in beautiful rose gold.

The rest of the collection features a range of pearl with varying diamond designs. The only issue now, is deciding what to choose!

Image credit: Autore

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Bulgari Finding Things Tougher Than French Counterparts - 2/8/10

Shares in Bulgari Spa, the world's third largest fine jewellery company, fell after quarterly profits did not achieve previous advised estimates. They fell as much as 3.6 percent in Milan after reporting second-quarter profits that missed estimates in addition that they may not meet their full-year gross-margin forecast also ensured the fall. Not great news in a compounded way given the ongoing positive announcements that have been made over recent weeks with the LVMH Group's excellent results and on Friday last, PPR SA's fine performance.

A lot of pressure lies on the shoulders of the Chief Executive Officer Francesco Trapani, his recent strategy has been to introduce lower priced jewellery and higher priced timepieces which may have a longer term benefit however according to an article in Bloomberg Trapani said "Bulgari may not reach its 63 percent-gross margin forecast because of rising gold prices and its geographic mix. The margin was 61.1 percent in the second quarter." It's going to be a tougher road ahead for the Italian brand, whilst they returned to positive revenue this year with net income at 600,000 euros compared with a loss of 11.2 million euros in previous year, the general consensus is not so optimistic hence the share price fall and overall market valuation is down.

Bulgari has a diversified production portfolio with ties, scarves, handbags, small leather goods however the lions share of revenue comes from its jewellery, followed by watches and if these crucial product categories are trading down, well the result is thus.

Image credit: Francesco Trapani, newyorktimes.com

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Canturi Shines At Wedding Of Miranda Kerr And Orlando Bloom - 30/07/10

The wedding of Miranda Kerr and Orlando Bloom has proven that Australia has several successful luxury exports, from product to people! Miranda presented her new husband with a stunning Canturi ring, which was specifically designed by Stefano Canturi for the wedding. Canturi brought that extra touch of style to the wedding of the two stars, which will no doubt help grow the Australian fine jewellery brands fiercely loyal client base. Canturi have grown their retail distribution strategically and with consideration, and now have three stores in Australia (Melbourne, Sydney and Brisbane) and two in the United States, Las Vegas and New York.

Image credit: canturi.com

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De Beers Announces Enormous Profit Rise- 27/07/10

There is great news for De Beers, as they have begun to rebuild after the recession with successful results across retail sale profits. WWD reported “in the six months to June 30, De Beers profits rose to $348 million, compared with a $6 million loss in the corresponding period last year.” During the GFC De Beers went to extremes of cutting 25% of their staff- we want to know if they have reintroduced these cost cutting measures to achieve such results.

What is also interesting to note, but what is not widely known, is that De Beers has a joint venture for its retail arm with LVMH Moët Hennessy Louis Vuitton (it's the company you keep really, that counts…), De Beers Diamond Jewelers. Evidently a “healthy rebound,” has been witnessed and the company has announced plans to unveil a group of new collections later this year.

Image credit: debeerseu.com

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Tiffany & Co Unveil New Handbag Collection - 19/07/10

Tiffany & Co have revealed part of their new handbag collection on the web this week, as part of their plan to branch out and beyond fine jewellery. Whilst the majority of the handbags will be priced between $1,000 and $2,000, one glazed crocodile handbag, named “Manhattan” will sell at a staggering $17,500.

September will see the bags available in Tiffany & Co’s largest U.S stores, and will aim to encourage loyal customers to purchase small leather accessories and wallets also. The designers are Richard Lambertson and John Truex, and Tiffany & Co eventually intend to replace unused space associated with fine China and crystal for the new luxury leather goods.

Image credit: bagsnob.com

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Buy Rating On Tiffany & Co Endorsed - 16/07/10

Analyst Jennifer Milan has maintained her ‘buy’ rating on Tiffany & Co this week- and it’s clearly because everyone is doing just that! After meeting with the company Milan told investors that Tiffany & Co should be able to generate a ‘healthy cash flow’ despite the unstable U.S economy. Most notably consumers are buying across many of their product categories and we believe, of extreme success is their current Yellow Diamond campaign.

Image credit: tiffany.com

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New Creative Director For Fairfax & Roberts - 05/07/10

Monsier Thierry Martin, an international man of fine jewellery mystery (relatively speaking), is heading to Sydney to join the iconic Australian fine jewellery maison, Fairfax & Roberts. Martin will take on the position as the companies Creative Director, and with a background working for some of the big names including Bulgari, Chanel, Gucci, Van Cleef and Arpels, to name a few, he is expected to bring new light to the company, which has been established since 1858.

Image credit: fairfaxandroberts.com.au

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Tiffany & Co Set To Expand Further Overseas - 02/07/10

Tiffany & Co are not only surviving, they are growing rapidly, with the announcement this week of expansion plans throughout the U.S and India. The company recently expanded into a new accessory line, as they branched into the handbag market, but this time around, they are looking to double their U.S stores and tap into the Indian market.

Chief Financial Officer, James Fernandez stated "we are well positioned for the future and continuing our evolution into a successful geographically diversified retailer.” Tiffany have currently projected earnings of US $2.55 to $2.60 a share on sales growth of 11% this current fiscal year. It looks to be yet another egg-shell blue day!

Image credit: tiffany.com

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Cartier Branch Their Support To Student Designers - 28/06/10

Cartier are investing in the future of student craftsmen, which we are delighted to see. The luxury jewellery brand are boosting their support of Europe’s largest jewellery school- the School of Jewellery in Birmingham. The agreement was confirmed after a visit to the school by two Cartier officials. This new support network is increasing amongst luxury brands, as we saw earlier this year with LVMH support of student artisans.

Image credit: schoolofjewellery.co.uk

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AUTORE Pearls Honoured At Couture Design Awards - 9/6/10

AUTORE takes top honours for best in pearls in design at the Couture Design Awards celebration held at the Wynn Hotel last Saturday night in Las Vegas. AUTORE has been nominated as a finalist for the 2010 UK Retail Jewellery Awards for the category for Italian Jewellery Designer of the Year. The winner will be announced on the 15th of July.

So one of Australia's successful luxury fine jewellery brands is garnering well earned international credit. Founded in 1991, The AUTORE Group is one of the largest South Sea pearl companies in the world. A wholly vertically integrated operation, AUTORE provides quality-assured luxury jewellery and South Sea pearls right from the source and distributes the gems through ten offices around the globe.

Image Credit:http://www.pearlautore.com.au/

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