Two Young Italian Jewelry Brands Bring Bold New Designs to the US

Italian Design Ltd. Snow White Red Apple Ring

Even the Italian jewelry industry needs new blood to bring innovative ideas to its storied design and craftsmanship tradition. Two new companies have heeded the call and more recently brought their new designs to the US by way of Las Vegas jewelry week.

Italian Design Ltd. and Qayten J.E.T. have little in common except a desire to bring a modern approach to the great tradition of Italian jewelry craftsmanship and design.

Italian Design Ltd. Snow White Red Apple Ring opened to reveal Snow White.

Silvia and Alberto Prandoni, the sibling founders of Italian Design Ltd. are proud of their Italian design heritage. However, they are equally influenced by traditional bespoke and limited editions jewelry created by international luxury jewelry houses, such as Bulgari, Van Cleef & Arpels and Tiffany & Co. The four-year-old company produces jewelry with innovative designs and precious materials (particularly colored gems) that tell intimate stories.

Italian Design Ltd. Lava Earrings made with irregular-shaped fire opals.

“We want to go back to haute jewelry design choosing stones and materials of absolute quality, interpreted with an original design that will adapt to and reflect individual personalities,” said Alberto Prandoni, the company’s CEO. “We create unique pieces or a limited number of up to eight pieces. We propose color variations and modifications to perfectly satisfy the desires of those who turn to us for our customization capabilities.”

There's also a good bit of whimsy and versatility incorporated into their jewelry. Some pieces are designed to be worn several ways. For example, the top of the “Snow White Red Apple Ring” opens to reveal Snow White. The ring can then be converted to a necklace and other uses. 

Italian Design Ltd.  Circus Ring can be worn multiple ways.

“We design rings, bracelets or necklaces as if they were living objects with their own personal stories,” he added.

“Our approach enables us to reach the individual and to interpret his or her requests,” Silvia Prandoni said. “It is certainly a less direct path but one that gives great satisfaction.” 

Qayten Paisley Collection earrings

Qayten is a company I have written about previously. I first met the founders at Baselworld 2013. It specializes in using modern technology to create contemporary three-dimensional pieces that are both beautiful and easy to wear. In fact the name defines the company. Qayten, is Sanskrit meaning “origin” and the abbreviation J.E.T., stands for “Jewellery Estetica Technology.”

Maddalena Allegretti, marketing and sales manager, says this means its creations “fuse aesthetics, technical innovation and forward-thinking design while honoring the traditional techniques at the heart of jewelry making.”

Qayten TT Bracelet made with rare, ethically sourced Indonesian wood.

The Bologna-based jewelry brand uses all types of materials, from 18k gold and platinum, diamonds and colored gems, natural Akoya and South Seas pearls; and even with rare woods that are ethically sourced.

“Our jewelry is modern now and for years to come,” she says. “It’s sophisticated with high perceived value, high quality of materials, including rare collectible materials.”

Qayten diamond Bologna necklace.

Founded in 2012 the firm’s first trip to the US turned out to be quite fruitful in terms of exposure. Its Bologna necklace received two honors at the Couture Jewelry Show in Las Vegas: First Place in the “Diamonds above $20,000 Retail” category and First Runner Up in the “Debuting” category.

“The calling cards of this brand are invisible connections, en tremblant settings, she says. “This is jewelry that demands to be touched, turned over in the hands and admired as much for its technical mastery as it’s visual.”

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Jewelry Tradeshows and National Jeweler Acquired By Private Equity Firm

Buyers and exhibitors conduct business at the recently concluded 2013 Couture Show in the Wynn Las Vegas. Photo credit: Anthony DeMarco

Toronto-based private equity firm, Onex Corp., said Tuesday that it has acquired Nielsen Expositions, which includes the jewelry tradeshows Couture Show in Las Vegas, JA New York, JA Special Delivery New York, and the online jewelry publication, National Jeweler.

Onex paid the Nielsen Expositions’ parent firm, an affiliate of Nielsen Holdings N.V., $950 million in cash consideration. With the closing of the acquisition, the company was renamed Emerald Expositions, Inc., based in San Juan Capistrano, Calif. It produces more than 65 business-to-business tradeshows and conference events per year across nine markets, including general merchandise, sports, hospitality and retail design, jewelry, photography, decorated apparel, building, healthcare and military.

Onex Partners III made an equity investment of approximately $350 million, of which Onex’ share was $85 million as a Limited Partner in the Fund.

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New Colorful and Golden Jewelry Designs from the Couture Show

The NightFall collection by Lagos was one the many new collections unveiled by designer Steven Lagos. It consists of black spinel, 18k gold and diamonds. It is available exclusively at Neiman Marcus through October.

Colored gemstones, which were widely used in place of diamonds during the recession, have continued to find acceptance among designers, retailers and consumers. A variety of bold, precious gems, ranging from dark blue lapis to red spinels to multi-colored sapphires were on display during the Couture Show in the Wynn Las Vegas. Of course, emerald, the color of the year, was prevalent among the designs as well as citrine. In many cases these gems were matched with high-karat gold, which has made a striking and glittering return to the jewelry stage.

Below is a listing of some of the jewelry shown at Couture. 

A faceted citrine center stone is mounted on sterling silver with 18k gold beaded accents by Lagos.

Damiani Butterfly necklace made of 18k gold with sapphires, emeralds and other colored gems.

The deep, rich blue of lapis lazuli is prominent in this necklace by Coomi.

The Marina B Kashan bangle made of 18k gold combined with oval-shaped precious and semi-precious gems.

Black rhodium gold earrings with round brilliant and rose cut diamonds by Michael John Jewelry.

A set of mismatched emerald and opal drop earrings by Arunashi.

A half-white, half-yellow 60-carat citrine surrounded by diamond pave set on 18k gold by Parulina.

18k rose gold crescent ring with brown diamonds, red garnets, light orange sapphires and citrines by Octium.

Large green amber drop attached to an 18k setting with champagne diamond pave by Syna.

18k yellow gold necklace with champagne pave diamonds by Bavna.

18k oxidized gold earrings with pink opals and black diamonds by Ivanka Trump

Gold beaded bracelet by Marco Bicego.

Rings in 18k yellow and rose gold with brown and white diamonds, pink, smoky and lemon quartz, pink tourmaline, ruby mandarin garnet and aquamarine by Brumani.

Red spinel and diamond pave earrings by Erica Courtney

A variety of jewelry pieces made with fossilized materials such as woolly mammoth tusk and gemstones from Monique Péan. 

Independent metalsmith, Victor Velyan’s 22k crocodile-skin bracelet with emeralds.

Aquamarine and Roman coin replica earrings by the 1884 Collection.

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The Jewelry Industry is Better Prepared to Handle a Downturn

The opening day crowd during the 2011 JCK Las Vegas tradeshow held at Mandalay Bay. Photo credit: Anthony DeMarco

Not since 2009 has the global economy and the jewelry industry’s place in it been so unstable. This comes as the international jewelry industry descends on Las Vegas for a series of tradeshows beginning Monday (led by JCK Las Vegas at Mandalay Bay and The Couture Show at the Wynn Las Vegas) where retailers will purchase their inventory for the all-important holiday season. It’s one of the largest jewelry trade events on the global calendar and it will be a real test on whether the U.S. jewelry industry can withstand the latest onslaught of mixed economic news.

I think the jewelry industry will prevail. The industry itself has done little to exacerbate the fragile global economic situation. In fact, it has performed admirably during these difficult economic times—outside of the diamond industry with its mishandling of the Zimbabwe human rights issue and now diamond grading scandals at two labs. 

After the contraction of the U.S. jewelry industry in 2009, it has been posting mostly positive numbers and showing consistent, incremental growth. Unlike the banking industry, it has learned from its mistakes. The jewelry industry is not as leveraged as it was in 2008. It is doing better at using the Internet and social media instead of treating it as the enemy. Creativity has taken over as well. As the cost of materials increased, designers and manufacturers have created objects of adornment using more color, a variety of materials and high-quality craftsmanship. The jewelry industry as a whole is a smarter and more humble industry than it was prior to 2008.

However, it must get past an economic situation that is again rising to a boil led by two factors that just won’t go away: Wall Street’s reckless behavior and its defiant stance against any regulation; and the Euro crisis.

The Facebook IPO debacle managed by Morgan Stanley and JPMorgan Chase’s $2 billion-plus trading loss by taking large positions in credit default swaps show that Wall Street has learned nothing from the 2008 financial crisis that nearly took down the world economy.

Meanwhile, the end of the Euro or at least a serious contraction of the European Union now seems a possibility. Greece is on the brink of outright rejecting the monetary union and other countries are saddled with outrageous debt that member countries seem unable or unwilling to resolve. There are an endless number of theories as to what will happen if the Union disbands or shrinks, which tells me that no one really knows what will happen. But everyone in Europe seems to be scared.

The jewelry industry has its own challenges and victories, some of which were revealed this week. Among them:

* Tiffany & Co., the luxury retailer jeweler that has performed like a juggernaut throughout this recession, downgraded its outlook Thursday based on a softening of sales in the U.S. and abroad.

* Meanwhile, it’s the mid-market jewelers that are showing resiliency. Signet Jewelers, the largest specialty retail jeweler in the U.S. and U.K., whose brands include Kay and Jared, reported modest growth in the first quarter Thursday (sales up 1.4 and comps up 1.2 percent). Zale Corp., the long-struggling North American specialty retail jeweler, showed significant growth in its first quarter report Wednesday (8 percent increase in sales and comps).

* Online jewelry and diamond retailer, Blue Nile, reported a 3.6 percent first quarter increase in sales. However, lower markups led to a 9.7 percent decline in gross profits.

* The Swiss watch industry, which appeared invincible throughout the recession, is reporting that its phenomenal growth is slowing to just robust levels. Watch exports increased 9 percent in April, down from 16.1 percent for the first four months of the year, according to the Swiss Federal Customs Office.

* However, the large luxury conglomerates are still poised for strong growth throughout the world. For example, LVMH reported that its Watch & Jewellery division sales increased by 141 percent increase, year-over-year, to $826.6 million. This is misleading as LVMH acquired Italian luxury jewelry house, Bulgari, in March 2011. Excluding the Bulgari acquisition, sales increased 17 percent. Richemont, reported that jewelry and watch sales rose 32 percent for the year, with overall sales in the Americas up 26 percent.

Despite the uncertainty, I expect to see a positive environment and exciting new jewelry designs at the tradeshows. Most importantly, I anticipate business to be strong. Unlike 2008, the industry is better prepared today to meet these challenges.

Las Vegas Jewelry Week

Mandalay Bay, the new home of JCK Las Vegas

The upcoming week in Las Vegas is going to be one of the most important for the U.S. jewelry industry in some time. The performance of jewelry trade shows for the next several days will help determine whether the industry is returning to a period of sustained growth following the single event of the economic meltdown of 2008, or if it is the victim of something bigger and more widespread—a cultural and technological change that is steamrolling traditional ways of assessing luxury, beauty and fashion; while providing new ways of delivering messages and products that are beyond the reach of an aging industry.

Of course the big news is that one of the largest and most successful shows in the international jewelry industry—JCK Las Vegas and its affiliate shows, Luxury at JCK and Swiss Watch at JCK—will be held for the first time at Mandalay Bay.

The change is the result of some downsizing and rightsizing due to recent economic realities and competition within the industry. Celebrating its 20th year, JCK Las Vegas has always been held at the Sands Expo & Convention Center, one of the largest conventions facilities in the country, which along with the adjacent Venetian Las Vegas offers approximately 1.8 million square-feet of space. The show was so successful that even in this space there was an annual waiting list of hundreds of companies.

Things changed dramatically during the 2008 global economic meltdown, which resulted in a dramatic shrinkage of the jewelry industry. No more waiting lists. More empty spaces. Fewer buyers. So now the show will be held at the newer, nicer although smaller space. Still, at 1 million square feet, it is huge by normal expo space standards.

Things have been changing for some time as other jewelry shows have opened and taken away some JCK exhibitors. The most notable change is that what has been termed JCK Las Vegas for years by the industry is now known in the industry as “Las Vegas Jewelry Week” or “Las Vegas Jewelry Market Week.”

The week begins with JCK at Luxury (May 31 – June 6). The first three days of the show is an invitation only gathering of luxury jewelry retailers and consumer press, which the show has been since its inception. The next four days, the show is open for all of those attending JCK Las Vegas. This is in no doubt in recognition of the only segment of the jewelry industry that continues to grow during this sluggish recovery. Autore, Breuning, Carl Messler and Danhov are among the approximate 230 luxury exhibitors at the show.

Swiss Watch at JCK (June 2 - 6) remains an appointment only event. There is no desire and seemingly no need for the luxury Swiss watch industry to change the way it does business as it continues to experience exceptional sales growth and consumer passion for its timepieces. Exhibitors run from Breitling to Zenith who will be seeing buyers in suites at the Mandalay Bay Hotel and the Four Seasons Hotel in the same building.

Wynn Las Vegas, home of the Couture Show.  Photo Credit: Destination360

The Couture Show, over in the Wynn Las Vegas (June 2 – 6), features some of the best-known high-end jewelry brands in the world, including Damiani, John Hardy, David Yurman, Judith Ripka, Kwiat, Mikimoto, Roberto Coin and Stephen Webster. These are among the companies that broke off with JCK Las Vegas to form a show that is specific to their niche in the industry. In the past, the show lived off its close proximity to the Sands Convention Center. The question this year is whether enough buyers will want to make the trip from the south end of the strip to the Wynn. There are certainly enough destination brands for buyers to make the trip.

The American Gem Trade Association attached itself to JCK Las Vegas a number of years ago with its own show, AGTA GemFair Las Vegas. The collection of gem and pearl dealers from all over the world will continue its successful association with JCK at Mandalay Bay (June 2 – 7).

Then there’s JCK Las Vegas (June 3 – 6), still the dominate jewelry trade show on “The Strip” even if its status is slightly tarnished. This show contains all aspects of the jewelry industry from bridal to manufacturing equipment and technology suppliers. Low-, mid-, and high-end tiers of the market are resented as well as international jewelry manufacturers.

Planet Hollywood is the location for Niche: The Show

Finally there’s Niche: The Show at Planet Hollywood (June 4 – 6). This is show dedicated for designers of handcrafted jewelry and other materials and mediums, such as glass, ceramic and wood. This event is an answer to the long-term struggle small jewelry designers had at JCK. The show was just too big and attracted too many buyers from large-scale operations with orders that these types small businesses couldn’t fill.

There are other shows as well, specializing in antiques, dedicated for watch dealers and for bead makers that round out the festivities. But it’s the major trade shows that will determine the shape and scope of what the U.S. jewelry industry will look like in the coming years.

Many in the industry will be crossing their fingers.