Montblanc CEO Jérôme Lambert Bids Farewell

Montblanc CEO Jérôme Lambert (letf) with brand ambassadors Guey Lun Mei, Charlotte Casiraghi and Hugh Jackman at the Montblanc gala dinner in Geneva

The rows of tables that make up the seating arrangement at the Brasserie Des Halles de L’Ile for Montblanc’s annual gala dinner is just one of the signature trademarks of Jérôme Lambert that displays his attention to detail. 

In less than four years the engaging French CEO of the German luxury brand has managed to make his mark in many ways. Among them:

* He created consistent storylines based on Montblanc’s heritage over multiple product categories and produced innovative products that adhered to brand’s legacy. For example, a year ago, Montblanc celebrated its 110th anniversary with a wide collection of writing instruments, timepieces, leather goods, cufflinks and jewelry called “Montblanc Heritage Collection, Rouge & Noir” that took design inspiration from various periods of the brand’s history. 

* He championed the first design partnership in Montblanc’s history, working with contemporary designer, Marc Newson, for the Montblanc M collection of writing instruments.

* He named contemporary art curators, Sam Bardaouil and Till Fellrath, as co-chairs of the Montblanc de la Culture Arts Patronage Awards, also a first for the brand and the 25-year history of the awards program.

* He was instrumental in merging the talents of its two watchmaking operations: Villeret (formerly known as Minerva), a watchmaking workshop in the town of the same name that produces a limited number of timepieces with hand-made chronograph movements; and the Montblanc Le Locle watch manufacturing operation. The two facilities produced separate products until Lambert arrived. In less than a year Montblanc began producing familiar and new Montblanc chronographs with Villeret movements at a broader range of prices and styles. 

Now it was time for Lambert to say goodbye. His success at Montblanc and an equally successful stint at luxury watch brand Jaeger-LeCoultre has earned him a corporate position at Compagnie Financière Richemont, which owns both brands. He moves into a new title April 1 as head of Operations responsible for central and regional services for all brands with the exception of jewelry and watchmaking. He is being replaced by Nicolas Baretzki, currently Montblanc’s executive VP of sales.

The seating arrangement of rows of tables at the Montblanc annual gala dinner. Photo by Anthony DeMarco

The January 16 dinner during the Salon International Haute Horlogerie (SIHH) watch trade show was the last chance Lambert had to publicly address his top-line staff, many of whom he hired, and the international celebrities associated with the brand, many of whom he recruited. His energetic ad-libbed remarks were often interrupted by cheers and applause—overshadowing the celebrities at the event, including Hugh Jackman, Montblanc’s international brand ambassador. 

“Every time it’s a little bit of an adventure so it looks good on Monday morning,” he said about preparing the luxurious exhibition space at SIHH, the luxury watch trade show. “There’s a lot of people involved and a lot of stories.”

Jérôme Lambert addresses his guests at the Montblanc gala dinner. Photo by Anthony DeMarco

He added, “For many of you who started on the very first days, weeks and months of our history. I remember the tough nights. Thanks for the good energy, investment and strong belief that everything was functioning perfectly.… Thank you for the amazing time. Thank you for being our partners, brand ambassadors, friends and sources of inspiration.” 

Those sitting on the rows of tables cheered. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet, the Forbes website and on Instagram @JewelryNewsNetwork

Bollywood Star Priyanka Chopra Is The New Ambassador For High Jeweler Nirav Modi

Luxury diamond jeweler, Nirav Modi, named Priyanka Chopra the brand’s global ambassador. The Bollywood star will appear in a global photo and video advertising campaign for the high jewelry house.

The Indian actress, model, singer, film producer, philanthropist and Miss World 2000, is described by the Indian-based high jeweler as “a symbol for today’s women, inspiring them to be the best version of themselves.” In the U.S. she is known for her role as Alex Parrish, an FBI recruit in the TV drama Quantico. She is a regular on fashion catwalks, magazine covers and international red carpets. 

Nirav Modi is global high jewelry house, specializing in diamond jewels. It is named after its billionaire founder and creative director. 

Priyanka Chopra and Nirav Modi

“Priyanka Chopra embodies all the symbols of modern India while paving her own path, which also represents the ethos of our brand,” Modi said. “She strives to not only achieve, but also master, the unexpected, unheard of.… There is perfection in every aspect of her work. An inspirational icon, she shares a distinct spirit similar Nirav Modi–taking Indian excellence to the international stage.” 

Chopra added, “My association with Nirav Modi is like a meeting of minds in many ways. We are both fiercely proud of our heritage and are united by the idea of bringing a modern India to the global forefront. His jewels are one of a kind and effortless, with an understated elegance. I have worn the brand on many occasions and have always been impressed with the exquisite designs, the finesse, the clarity and femininity of the jewels. I’m looking forward to a wonderful association.” 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet, the Forbes website and on Instagram @JewelryNewsNetwork

Investor Group Completes $520 million Acquisition of Blue Nile

An investor group comprised of Bain Capital Private Equity, Bow Street and Adama Partners completed the acquisition of online diamond and jewelry retailer Blue Nile Friday, paying $40.75 per share in cash. A Securities and Exchange Commission document said the total amount paid for the Seattle-based company was $520 million.

The transaction was first announced on Nov. 7, 2016, and was approved by Blue Nile's shareholders on February 2. Trading in Blue Nile’s common stock on NASDAQ will end February 21.

“Blue Nile has disrupted and transformed the way consumers shop for and purchase diamonds and fine jewelry by creating price transparency while simultaneously providing value to suppliers,” said Blue Nile Chairman, CEO and President Harvey Kanter. “As we enter the next phase of growth, Blue Nile will continue to expand our vision and focus on putting the customer first by reaching them the way they prefer to shop whether it's a computer, mobile device, or in one of our Webrooms.”

Blue Nile was founded in 1999 by Mark Vadon after he had a less than satisfying experience shopping for a diamond engagement ring through traditional retail routes.

The company was created during the infancy of the Web with the premise that choosing an engagement ring can be a simple process and can be done online. Education and disclosure helped consumers make informed decisions when choosing a diamond engagement ring.

Within 10 years it became one of the largest diamond and diamond engagement ring retailers in the U.S. and one of the early high-growth eCommerce darlings.

The company has an inventory of more than 200,000 diamonds with grading reports from the Gemological Institute of America or the American Gem Society. They can be paired with more than 200 settings. The overall result is that, according to company officials, Blue Nile provides more options and sells their jewels for less than traditional retail jewelers.

Since its founding the company says it has served more than 1.7 million customers and sold more than 1 million engagement rings and wedding bands, combined.

However, 18 years later Vadon is no longer with the company, and more recently it is showing signs that its robust growth in the U.S. is waning (The company sales are growing at a strong pace at its two international hubs in Europe and China). On the same day the acquisition was announced, Blue Nile released its third-quarter earnings report, which showed a year-over-year net sales decrease of 4.3 percent to $105.1 million for the period ended Oct. 2, 2016.

However, in a statement the new investors believe there is still room for growth. 

“Blue Nile is a unique business with a strong platform in an industry that is rapidly evolving and migrating online," said Ryan Cotton, a managing director at Bain Capital Private Equity.  "We are excited to … help Blue Nile continue to lead the transformation of the customer purchase experience in engagement rings and fine jewelry.”

In an October interview, Katner told me that he too believes there is plenty of room to diversify and grow in the U.S. and abroad. In the U.S., while Blue Nile is by far the largest Internet diamond jewelry retailer in the U.S. (and the world) with 50 percent of the market, he believes it has only 5 percent of the overall jewelry market. 

To capture more market share, Katner said the company is working to enhance their mobile capabilities, reach consumers through retail outlets, known as Webrooms, and enhance how it digitally displays their products. 

Blue Nile Webroom Roosevelt Field Mall

“Today’s consumer or the millennial consumer really requires choice,” he said in October. “The way we look at our business, it is no longer an eCommerce business or an Omni-channel business. It’s a business about commerce,” he said in October. “We believe that as we continue to engage the millennial customer, we can get more people to have the trust and confidence, and understand all of the benefits of buying from someone like Blue Nile online. The Webroom is an example of that. Enhancements to the phone or tablet or PC, which is ultimately the digital experience, are examples of that. Those are all important elements that actually accelerate our business.”

BofA Merrill Lynch served as exclusive financial advisor to Blue Nile, and Wilson Sonsini Goodrich & Rosati served as its legal advisor. Goldman Sachs & Co provided debt for the transaction, and Kirkland & Ellis LLP served as legal advisor to the Investor Group. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet, the Forbes website and on Instagram @JewelryNewsNetwork

BAFTA Versus Grammy Red Carpet Jewelry Battle, Who Wins?

Beyoncé wearing a $12 million necklace by Lorraine Schwartz with 400
carats of diamonds. Photo by Getty Images

Sunday was a busy night for style and fashion watchers. Two international award presentations were held on both ends of the pond on Sunday. Not to mention New York Fashion Week. But let’s forget about that last one. 

The red carpet parades for both the Grammy Awards in Los Angeles and the BAFTAs in London (the British equivalent of the Oscars) provided some standouts glimpses of fine jewelry. The larger brands were not in full force at either event but those who did make it favored the BAFTAs. The Grammys in particular provided a chance for independent designers to show their stuff on a big stage without being overwhelmed by the large brands. It won’t be like this for the Oscars on February 26. 

The BAFTA Jewels

Photo by REX Shutterstock

One of the most talked about jewels of the evening have an unknown origin. Kate Middleton wore a pair of sizable drop-shaped chandelier diamond earrings with what appears to be a large pear-shaped diamond in the center, possibly a light pink diamond. As of Monday afternoon the origin of the earrings is a mystery.

Photo by Anthony Harvey/Getty Images

Nicole Kidman wore more than 130 carats of Harry Winston Diamonds. The long Caftan Diamond Tassel Necklace (67.63 carats) set in platinum was the showstopper. It was accompanied by emerald-cut diamond earstuds, a marquise Cluster diamond bracelet, a pear-shaped Cluster diamond Ring, and a Winston Cluster diamond brooch, all set in platinum.

Chopard dressed two celebrities for the event. French actress Isabelle Huppert wore a pair of 18k white gold earrings set with pear-shaped emeralds (68cts), pear-shaped diamonds (14cts) and marquise-cut diamonds; as well as an 18k white and rose gold ring set with a 2-carat heart-shaped fancy orange pink diamond, a 2-carat heart-shaped diamond (2cts) and brilliant diamonds, both from the High Jewelry Collection, and two rings from the Ice Cube Collection.

Penelope Cruz wore an 18k rose gold ring set with rubellites and brilliant diamonds from Chopard’s Temptations Collection.

Photo by REX

London-based jewelry designer Kat Florence provided jewels for two BAFTA winners. Emily Leo, who received the award for “Outstanding Debut by a British Writer,” wore Kat Florence Zultanite earrings. 

Actress Hayley Squires from I Daniel Blake, winner of “Outstanding British Film,” was adorned in Kat Florence Lumiere earrings and Lemon Tanzanite ring.

Actress and producer Daisy Ridley wore the Cartier Paris Nouvelle Vague bracelet in 18k white gold, lacquer and diamonds; the C de Cartier earrings in 18k white gold and diamonds; and Reflection de Cartier earrings in 18k white gold, diamonds.

Actress Holliday Grainger was decked out in Forevermark Diamonds, a De Beers diamond brand. Specifically she wore Diamond Cluster earrings and a Two Stone Diamond Cocktail ring, both set in 18k white gold.


The Grammy Jewels:

Beyoncé (top photo) was inexplicably snubbed again by the Grammy voters but she still wore it well as the Diva was adorned with a $12 million necklace by Lorraine Schwartz featuring 400 carats of diamonds as told by Marion Fasel of Adventurine.

Celine Dion wore Dvani emerald with diamond earrings

Jennifer Lopez wore Butani diamond bracelet and rings

Grammy nominee Mya wore diamond jewels by L’Dezen by Payal Shah

Taraji P. Henson wore Hearts on Fire diamond studs

Laverne Cox wore a Borgioni bracelet

Kat Graham wore Le Vian diamond studs

Kimberly Schlapman of Little Big Town wore Lydia Courteille earrings

Giuliana Rancic wore L’Dezen by Payal Shah diamond earrings and a Le Vian ring

So which awards show wins? You decide. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet, the Forbes website and on Instagram @JewelryNewsNetwork

Italian Exhibition Group Acquires Arezzo Gold Jewelry Trade Shows

Italian trade fair and government representatives at a press conference in Rome 

The newly formed Italian Exhibition Group (IEG) trade show company expanded its footprint in the Italian jewelry and gold industry by taking over the organization and management of the OroArezzo and Gold Italy trade fairs. The two shows are held at Arezzo Fiere e Congressi in the Tuscany region’s city of Arezzo. It is one of the two major gold jewelry manufacturing centers in Italy. 

With this agreement IEG becomes the trade fair representative for the entire Italian gold and jewelry industry, valued at more than $6 billion, according to an Italian government official. 

The agreement was announced Thursday at a press conference in Rome attended by trade fair representatives and national and regional government officials, including Ivan Scalfarotto, undersecretary for the Ministry of Economic Development; Stefano Ciuoffo, Tuscany Region councilor for production, credit, tourism and commerce; Lorenzo Cagnoni, IEG president; Matteo Marzotto, executive IEG VP; Corrado Facco, IEG managing director; and Andrea Boldi, president of Arezzo Fiere e Congressi.

“The strategic agreement with Arezzo Fiere e Congressi spotlights Italian Exhibition Group's competence as a central, cutting edge trade show player for the jewelry sector on a global scale,” Facco said. “The Italian segment is Europe’s most important, and certainly most qualified, production district in terms of design and technological innovation.” 

IEG was formed in October 2016 with the merger of two Italian trade fair companies, Fiera di Vicenza and Rimini Fiera. IEG said at the time the alliance makes the new entity a “top player in Italy” in terms of directly organized shows with 61 fairs in its portfolio (90 percent own by the trade fair organizations) and 160 other events and congresses. The company also said it was the first example of a merger between trade show enterprises in Italy.

Among Fiera di Vicenza trade shows are VicenzaOro, held three times per year (which includes a trade show in Dubai). It is centered in Vicenza in the Veneto region, the other of the two major gold jewelry manufacturing centers in Italy. 

“Italian Exhibition Group will be managing an overall four events in Italy, one in Dubai, the official presence in the United States and a series of other strategic operations in Asia,” Facco said. “Therefore, IEG’s role as a content provider takes on even greater value, thus consolidating its international leadership in the marketing, communication and production of events linked to business for high range luxury goods.”

The new company’s aggressive stance toward locking up the trade fair sector in Italy for the jewelry industry seems to coincide with its plan to issue an Initial Public Offering as early as this year. The company made this announcement during the recently concluded VicenzaOro January trade fair. 

In addition, officials at the press conference in Rome said it coincides with Italian government initiatives to consolidate the industry in order to better promote internationally the “Made in Italy” quality production merchandise mark (indicating that a product is all planned, manufactured and packed in Italy) throughout the jewelry industry’s supply and production chain.

“This agreement is a decisive step for the development of a segment that is worth over $6 billion in exports. Know-how and organizational abilities are thus being united in order to compete in an increasingly more complex market, where company dimensions and project aims and ambitions make the difference,” Scalfarotto said. “We allocated almost $9 million euros to the gold and jewelry industry last year, providing support to our companies' participation at foreign trade shows and strengthening the biggest events in Italy. For 2017, we will be firmly continuing our efforts. After the plan aimed at the U.S. market, which began in 2016, we will be placing particular focus on Asia and the Middle East.”

IEG noted that despite the consolidation it will continue to promote the trade shows as regional fairs within their territories, “albeit with a considerable view to systematization.” 

“The aim is to strengthen and boost the industry by increasing business opportunities for exhibitors, stimulating the domestic market and favoring the presence of international buyers in order to help companies gain access to strategic jewelry markets,” IEG said in a statement. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet, the Forbes website and on Instagram @JewelryNewsNetwork

Three Richard Mille Watches Celebrate 50th Anniversary Of Racing Legend Jean Todt

RM11-03 Jean Todt 50th Anniversary

Jean Todt has an ongoing 50-year automotive career winning racing championships as a co-driver and an executive in charge of racing teams for Peugeot and Ferrari. He and Richard Mille also are good friends. 

To help the French native celebrate his 50th year in the high-performance automobile industry, Mille created three watches, each bearing Todt’s name and his favorite colors. 

The RM 11-03 Jean Todt 50th Anniversary (top photo) is a flyback chronograph inspired by automobiles and their history. Powered by an automatic caliber in grade 5 titanium, it is protected by a new blue and white Quartz TPT case. Extremely resistant and light, this composite is obtained by stacking 600 layers of silica only 45 microns thick, which are then saturated with an exclusive Richard Mille blue resin. The assembly is then heated to 120 degrees Celsius before being machined in Richard Mille’s factory. 

The watch was unveiled and presented to Todt during a celebration of his career this past September at the Chantilly Arts & Elegance, an international automobile competition and rally in the tradition of the Concours d’Elegance hosted by Richard Mille. It is available in a limited edition of 150 pieces.

RM 050 Jean Todt 50th Anniversary

The same Blue Quartz TPT is used for the case of the RM 050. This caliber houses a split-seconds chronograph regulated by a tourbillon. The extreme skeletonization of the bridges and baseplate, combined with the use of titanium and carbon nanofiber resulted in a movement weighing only 9.5 grams. It is limited to five pieces.

RM 056 Jean Todt 50th Anniversary

This same caliber for the RM 050 is used for the RM 056, which is housed in a sapphire case. Its construction and curvature required very long machining times. This case required no less than 1,000 hours of machining, including 430 hours devoted to grinding and 350 hours of polishing. It is limited to three pieces. 

In 1966, Todt began his career as a co-driver culminating in 1981 when he and Guy Fréquelin won World Rally Championships. The following year he was appointed Peugeot’s director of Racing and founded Peugeot Talbot Sport, which won World Rally Championship titles in 1985 and 1986, as well as first place in the general classification at the four editions of the Paris-Dakar Rally between 1987 and 1990. In 1990, he became director of Sporting Activities of the PSA Peugeot Citroën Group, overseeing Peugeot’s participation in the World Sports Car Championships, which Peugeot won in 1992. It also claimed two victories at the 1992 and 1993 Le Mans 24 Hours.  

In 1993 Jean Todt left Peugeot to become manager of Ferrari’s Racing Division. During his tenure, Scuderia Ferrari won 14 Formula One world titles and 106 Grand Prix victories. He eventually became CEO of Ferrari. In 2009 he left Ferrari and was elected president of the FIA, a position he currently holds. He also serves as a United Nations Special Envoy for Road Safety, and is founder of the ICM, an institute devoted to medical research for brain and spinal cord disorders.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet, the Forbes website and on Instagram @JewelryNewsNetwork

The Plumb Club Says It Has A Plan For Growth

The Plumb Pavilion at the JCK Las Vegas jewelry trade show

The Plumb Club—a coalition of jewelry, diamond and watch manufacturers—says it has a three-year plan to expand its membership base through “trade show involvement, member branding opportunities, industry leadership roles, responsible sourcing and best business practices, and marketing and communications to enhance” its brand.

The Plumb Club’s 42 firms account for 20 percent to 25 percent of the $8 billion dollar domestic fine jewelry market, according to the organization. It is perhaps best known for its exhibition pavilion at the annual JCK Las Vegas Show.

One key change will be opening its membership to companies beyond those that exhibit at trade shows. The organization says this will grow its influence, ensure that all product categories are represented and generate added retail support. 

The Plumb Club logo

In addition, the group plans to establish representation on the boards of select industry non-profits and also will require members to comply with responsible sourcing principles by either completing Responsible Jewellery Council certification or its own internal compliance requirements.

“What’s remarkable about The Plumb Club is that it’s the only U.S. trade association of important jewelry, diamond and watch suppliers whose members pool their resources and knowledge to improve our business environment by connecting with retailers, doing business responsibly, and helping to determine policies that will positively impact the future of the jewelry industry,” says Jonathan Goodman Cohen, president of The Plumb Club. “Our members have exceptional expertise and experience in product development, manufacturing, marketing, and distribution.” 

Suppliers interested in becoming Plumb Club members can contact Lawrence Hess, executive director, at 201-816-8881 or by following this link. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet, the Forbes website and on Instagram @JewelryNewsNetwork