The market of inspiration...

Over 75,000 years of the history all over the world and jewelry is still something that is timeless and truly attractive to people from different countries and nations. 

The major segments of jewelry are gold, diamond, platinum and other categories (silver, imitation jewelry, colored gems, precious stones etc.)

First of all, it is important to understand the types of jewelry. Such items are meant by jewelry as:

• Earrings
• Rings
• Brooches
• Necklaces
• Bracelets 

Have you ever wondered which countries have the biggest share of the jewelry market?

Main facts and figures about the market:

• Today’s jewelry market is about 150 billion euros
• By 2015, the market share of USA will decrease to 25%
• India and China will increase their share from 9 to 13% both
• The market is still more organized in the developed regions such as North America and Europe
• Only about 20% of the market is branded jewelry (In 2020, 30-40% are expected)
• The top 10 companies only comprise 12% of the market

Trends for the future (up to 2020)

• Trading up & down, segments are blurring
• The changing role of brands
• The use of multiple channels
• The consolidation of core players 
• The rise of megapolisies (Tokyo, London, New York City, Moscow etc) 

All industries were impacted by the global economic downturn of 2008-2010, and jewelry market is not an exception. Jewelry is a luxury, not a necessary good. 

However, in the past few years there was an increase in demand for fashionable jewelry as branded jewelry has found a niche all over the world. So let’s look at the TOP-10 best jewelry brands from which we can also estimate the main competitors of Bvlgari and Chopard...

Best Jewelry brands by November, 2013:

#1 Tiffany & Co (USA)

#2 Buccellati (Italy)

#3 Chopard (Switzerland)

#4 Piaget (Switzerland)

#5 Cartier (France)

#6 Mikimoto (Japan)

#7 Harry Winston (USA)

#8 Van Cleef & Arpels (France)

#9 Bvlgari (Italy)

#10 Korloff (France)

There are a lot of different rankings regarding jewelry industry. But the fact that Bvlgari and Chopard are in most Top-10 lists remain the same. These brands not only produce fascinating jewelry, but they have created unique and perfect image. 

In the end, I would like to mention that in current economic conditions it is important for companies to have innovative designers and wider range of product. Thus, some companies, for example Tiffany & Co and Cartier create beautiful men’s jewelry.

Diamonds and gold are meant to be women’s best friend, but maybe they will be more than just a friend also to men. Who knows…the time will show! 

Alina Bieglova

Sources: 

1. http://topbrandsandproducts.com/2013/09/05/top-10-luxury-jewelry-brands/

2. http://oncestudio.com/exploring-the-top-10-jewelry-designers/

3. http://en.wikipedia.org/wiki/Jewellery

4. http://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/consumer-markets-executive-survey/Documents/consumer-executive-top-mind-survey-2013.pdf

5. http://luxuryinstitute.com/blog/?p=2499

6. http://luxuryinstitute.com/blog/?p=2205

7. http://oncestudio.com/the-10-countries-that-make-the-most-jewelry/

8. http://www.slideshare.net/techsciresearch/gems-ad-jewellery-market-forecast

9. http://www.jckonline.com/blogs/chain/2013/05/13/jewelry-industry-in-2020

10. http://stylefrizz.com/200802/top-10-jewelry-brands/

Swiss magic...

In 1860 a young watchmaker named Louis-Ulysse Chopard had a dream of making and selling watches with his own name printed on the dial. He therefore opened a small business in the village Sonvilier in Switzerland, in an old stone building with the letters L.U.C. painted over the entrance. A business we today know as the international luxury watch and jewelry corporation Chopard. 

In the 1920s Chopard moved his small business to La Chaux-Fonds, and later to Geneva in 1937, with the goal of moving the company closer to its cosmopolitan clientele. A strong and solid reputation was soon established in the quality watch industry, and the buyers came in from all over Europe, including Russia. 

Chopard’s ownership went through three generations of Chopard men before the family lost their interest in the keeping the company. The company was therefore sold to Karl Scheufele, a young man descending from a long line German jewelers and watchmakers. The sale took place in 1963.

At the point of sale Scheufele moved his own company (named Eszehal) under the Chopard brand and with this move the jewelry segment were implemented into Chopard.

Under the new ownership Chopard went through an extensive modernization face, with strong emphasis on international expansion. The first brand boutiques were opened in Hong Kong, Geneva and Vienna in the 1980s.

Further brand and product line extensions were introduced during the following period.

From the 1970s until today there have constantly been introductions of new collections, all with great success. These collections were, among others, the Happy Diamons collection of 1976, the Happy Sport collection of 1993 and the L.U.C. series starting in 1996.

Their first fragrance was introduced in 2006 with the launch of Chopard pour Homme. The first female fragrance Happy Spirit followed a year later.

Chopard have also expanded into other accessory lines such as leather bags, eyewear and writing instruments.

During these years Chopard also acquired several partnerships.

 

In 1988 a partnership between Chopard and Mille Miglia vintage and classic car rally emerged. Chopard is to this day creating the official Mille Miglia watch collections.

An official partnership with the International Film Festival in Cannes started in 1998.

The first 8 meter world sailing championship sponsored by Chopard was held in 2006.

Over the 153 years of existence Chopard have grown to be a well know international company. From the opening of the first three boutiques in the 1980s, they now have almost 150 brand boutiques under its name, and thousands of retailers worldwide. Through it all Scheufele have still managed to maintain Chopard as a family business. The leadership now consists of Scheufele as company president, and his two children as head of the two different divisions; jewelry and watchmaking. 

MK

Sources:

1. http://www.chopard.com/a-tradition-of-excellence/

2. http://www.chopard.com/timeline

3. http://www.fashionmodeldirectory.com/brands/chopard/

4. http://www.alhawaj.com/products/product_details.aspx?product_id=253

Pictures:

1. http://www.chopard.com/a-tradition-of-excellence/

2. http://www.petersofkensington.com.au/Public/Accessories.aspx?Brand=Chopard

3. http://www.wthejournal.com/en-direct/article/chopard-mille-miglia-2013-un-nouveau-chronographe-symbole-dun-engagement-hi

From Italy with love...

In 1884 Sotirio Bulgari, a jeweller from Greek village, founded a tiny company in Rome, that has become a well-known international brand BVLGARI. 

He opened his first shop in Via Sistina that was then replaced by the current flagship store in via dei Condotti opened in 1905 by Bulgari with the help of his two sons: Costantino and Giorgio. 

Since that time BVLGARI has grown and developed its unique style based on Greco-Roman classicism, the Italian Renaissance, and the 19th century Roman school of goldsmiths. 

By the 1950’s-60’s, BVLGARI had gained popularity in the Hollywood, such movie stars as Elizabeth Taylor made a good advertising for this brand,  wearing its jewelry. That was a turning point for BVLGARI to define themself as an exclusive and luxury brand with unusual Italian design. And international expansion had begun in the 1970’s. BVLGARI opened stores in New York, Geneva, Monte Carlo and Paris.

They had done a great job to become a lovemark. Moreover, they used it to make successful brand extensions. 

In 1977 Bulgari launched the BVLGARI watch.

In 1992 Bulgari created its first fragrance, Eau Parfumée au Thé Vert.

Bulgari presented its first textiles collection in 1996, introducing silk scarves and a range of fashion accessories.

In 1997 they launched a wide range of leather accessories and luxury eyewear collections.

And the final step of its diversification was a joint venture with Luxury Group - the Luxury Division of Marriott International to launch a new luxury hotel brand, Bulgari Hotels & Resorts.

Bvlgari continued its development by vertical ingteration with the acquisition of the high-end watchmaking brands, jewellery and leather-goods brands.

In 2011 French luxury group LVMN bought Bulgari in an all-share deal. The takeover doubled the size of LVMH’s watches and jewellery unit, which at the time of the acquisition included Tag Heuer timepieces and De Beers diamond necklaces. 

Bvlgari belongs to the french company now, but anyway they still support the reputation of Italian luxury and exclusive brand. 

At the end I can't help showing you a wonderful advertising of Bvlgari parfum, where you can see also its beautiful jewelry.

Kristina Voskivarova

Sources:
1. http://en.bulgari.com/about/about_bulgari.jsp?cat=cat00105#editorial_03.jsp?cat=cat00115&mFolder=abvl_co_corporate_history
2. http://en.wikipedia.org/wiki/Bulgari
3. http://www.theluxechronicles.com/the_luxe_chronicles/2010/03/luxury-lessons-in-brand-extension-from-bulgari.html
4. Bvlgari youtube channel http://www.youtube.com/user/Bulgari
5. http://www.thejewelleryeditor.com/2013/02/elizabeth-taylors-bulgari-jewels-in-los-angeles-exhibition/
6. http://www.redvisitor.com/City-Guides/Bali/Hotels/Bulgari-Resort-Bali.html