Chopard's universe of happiness...

Famous couture houses and luxury jewelry companies have moved beyond their core products during recent decades. Chopard began 153 years ago as a producer of quality watches before expanding its product portfolio into jewelry in 1963.[1] Later the company diversified again – into leather goods, eyewear, fragrances and other accessories. This way the company managed to reinforce its brand’s position and thereby increased consumer excitement as well as high publicity on events such as the Cannes Film Festival (the Golden Palm award was designed by Chopard by the way…).

Let’s now have a detailed look into the product portfolio and brand extension of Chopard:

As illustrated above, the portfolio involves five different product categories: High Jewelry, Jewelry, Watches, Engagement and Accessories. Each of these is further divided in sub-categories and product lines.

High Jewelry is the one that celebrities wear on the red carpet and that we all admire because of the one of a kind craftsmanship and the exceptional stones used for each piece. But the “regular” Jewelry collection is not less prestigious: it includes well-known masterpieces such as the Happy Diamond Collection which is already celebrating its 37^th birthday. Maybe you will recognize some pieces in this video about Chopard’s “Universe of Happiness”:

If you’ve not been falling in love with Chopard yet, you should have a look at the engagement collection. Besides the most beautiful collection of rings, you have the possibility to personalize your own bridal jewelry that will then be made for your special moment.

The watches collection is shaped by inspirational, sophisticated as well as classic pieces and surprises with an exclusive partnership with Zagato, a legend of Italian automobile design for the classic racing collection.[2]

Concluding this post, I want you to keep Chopard in mind as a good example for a diversification in product categories and to dip into the universe of happiness and enchantment:

                                                                                                                                                                                                                                                                                      SG

                    

Sources:
http://www.chopard.com/timeline/

http://www.chopard.com/collections/zagato

Industry analysis - levels of competition

We talked in the previous article about the Bulgari and Chopard main competitiors. Now we will have a closer look at the jewelry industry, more specifically at the levels of competition.

We will start with the definitions and after we will identify the competitors.

Product form competition - firms offering slightly different variants of same basic product. Analyzing the jewelry industry, we can say that Bulgari's and Chopard's competitors will be Cartier, Tiffani, Piaget and Chaumet, since they all offer luxury jewelries, like earrings, rings, bracelets, necklaces, etc.

Product category - the specific generic to which a good or service belongs.

In our case the product category competition of Chopard and Bulgari will be Mikimoto, best known for its pearl jewelries, Swarovski for its crystal jewelries, De Beers for their diamond jewelries and Rolex for their watches.

Generic competitors - products which are all different in type but are capable of satisfying the same basic want of the perspective purchaser. Therefore it has to be related to adornment, so we will have Dior with their fragrances, Louis Vuitton with their handbags, Christian Louboutin with shoes, Chanel for clothes and Guerlain with the make-up.

Budget competition - anything on which the consumer might want to spend their available money. In our case this will be Lexus with cars,  Lurssen with yachts, Bombardier with the private jets, Harrods Estates offering luxury flats and houses, Harrods store offering the luxury truffles and fois gras, Caviar House & Prounier offering the best caviar in the world, and Don Perignon with their champagne.

TP

Sources:

http://www.salesopedia.com/glossary

http://www.therichest.com/luxury/most-expensive/the-top-10-most-expensive-louis-vuitton-items/

http://www.bornrich.com/fine-fragrances-world-s-most-expensive-perfumes.html

http://en.wikipedia.org/wiki/Adornment

http://en.wikipedia.org/wiki/Competition

http://listdose.com/top-10-best-luxury-clothing-brands-world/

http://en.wikipedia.org/wiki/L%C3%BCrssen

http://fr.wikipedia.org/wiki/Bombardier_Global_Express

http://www.harrodsestates.com/

http://www.harrods.com/food-and-wine/truffles-and-foie-gras

http://www.domperignon.com/

https://www.caviarhouse-prunier.co.uk/finest-caviar-by-caviar-house?language=en