White Diamonds Is the Focus Of de Grisogono’s ‘Folies’ High Jewelry Collection

A white gold snake sparkles with a head made of a pear-shaped white diamond and a body covered in 74 baguette-cut white diamonds and another 425 white diamonds

The “Folies” collection from the luxury jewelry house de Grisogono combines styles ranging from the Renaissance to the present day, honoring the accomplishments of pioneering artists. The pieces represent a variety of periods and movements telling the story of major artworks

White gold earrings with 18 pear-cut white diamonds and 905 white diamonds 

“They epitomize absolute art through pure, free-spirited creations in which deliberate choices and a resolutely original attitude have given rise to a recognized style, to trends often imitated yet never equaled, to revered expressions of folly,” Fawaz Gruosi, the brand’s founder said in a statement. The name Folies pays tribute to Gruosi’s “unbridled creativity, daring choices and unconventional approach,” the jewelry house said.

A 16.05-carat round white diamond tops a ring with 16 baguette-cut emeralds that runs along a twisting shank like a sash covered in 412 round white diamonds

The high jewelry collection was introduced at the recently concluded Biennale des Antiquaires art and antique fair. It focuses on diamonds that the brand describes as “exceptionally white, almost colorless gems of rare clarity” with “imposing carat weights that effectively highlight the incomparable radiance of original cuts.” Beneath the classical appearance shaped by Gruosi’s choice of diamonds, are the vivid colors of rubies, emeralds, blue sapphires, black diamonds and onyx.

A white gold ring paved with 319 round white diamonds topped with a 10.23-carat cushion-cut white diamond with a strip of 18 baguette-cut blue sapphires. An additional 60 blue sapphires covers the claws supporting the central white diamond

Gruosi uses a variety of original and large-sized stones. Alongside rail and invisible techniques, he introduces innovative settings ensuring an inimitable sparkle and radiance, right the way through to the claws surrounding the center stone.

A pink gold ring centered with a 14.18-carat round diamond surrounded by 47 briolette-cut rubies

The inside of these jewelry creations is delicately engraved with openworked gem-set scrolling motifs, a secret message intended exclusively for the woman wearing them. 

The designer’s vision was established in 1996 when he became the driving force behind the use of black diamonds, which he branded as “carbonado” that has become the emblem of de Grisogono. Guided by his decidedly non-conformist approach, Gruosi has given rise to revolutionary styles exploring unusual materials and stones previously considered unsuited to jewelry, including unusual color combinations, chiaroscuro effects and black rhodium coatings.

A 16.05-carat round white diamond tops a ring with 16 baguette-cut emeralds that runs along a twisting shank like a sash covered in 412 round white diamonds

Gruosi also is known for his appearances on red carpets throughout the world with internationally known models wearing his high jewelry creations. 

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Harry Winston Goes Contemporary With New ‘HW Logo’ Collection

The luxury jewelry house known for its sparkling white diamonds is placing a focus on various colors of gold with the brand’s new “HW Logo” collection. In addition, with its styling, the way it can be worn and its price, series of pendants, earrings, bracelets and rings is an attempt to reach out to a younger consumer. 

As the name implies the collection brings Harry Winston’s signature logo to the forefront of the jewels. The iconic “HW” logo with its lozenge shape has been the symbol of the jewelry and watch brand for more than five decades. It is based on the structural silhouette of the emerald-cut, the preferred diamond cut of the brand’s founder, Harry Winston. 

HW Logo yellow gold band ring. Retails for $2,400

The pieces are sleek, modern and understated, fashioned out of 18k yellow, rose and white gold. Being Harry Winston, round brilliant white diamonds also make an appearance either sprinkled on the jewels or placed in rows. There’s a balanced geometric quality to the design with the logo appearing in a number of ways that complement the use of diamonds. Balance can also be used to describe the offering in the collection. Each style appears in white, yellow and rose gold.

HW Logo rose gold diamond pendant. Retails for $2,300

While the styling may be on the modern side, the use of the “HW” logo cements the collection with its roots. 

The jewels are designed to be worn alone or layered and the rings can be purchased as wedding bands, both nods to a more youthful clientele. 

HW Logo white gold diamond earrings. retails for $3,100

Prior to this collection, Harry Winston only had a very small offering of yellow gold with a few pieces of its Lily Cluster collection. This is the first time the brand is using rose gold.

The price, if not directly related to a younger clientele, should certainly attract a broader buyer as it ranges from an accessible $2,300 for the pendant necklace to $20,000 for the bangle. The price also appeals to gift giving as the upcoming holiday season approaches. 

The collection is available at Harry Winston boutiques worldwide. 

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Meet The New Montblanc CEO

Nicolas Baretzki

Nicolas Baretzki has been named the new CEO of Montblanc, effective April 1, 2017. 

Compagnie Financière Richemont SA, which owns the German luxury brand, made the announcement in a brief statement released late Tuesday. 

Baretzki will replace Jérôme Lambert, who has held this position since 2013. Lambert will move to Head of Operations at Richemont responsible for central and regional services and all its brands other than jewelry and watchmaking at Richemont.

No reason was given for the executive changes.

Baretzki joined Montblanc in 2013 as executive VP of sales. He has worked at Richemont brands since 2002. After graduating from HEC (Ecole des Hautes Etudes Commerciales) in Paris, he began his career at Cartier where he worked in various marketing and general management functions for eight years. He then moved to Jaeger-LeCoultre in 2002 and served as international sales director for 12 years.

“I am very pleased that Nicolas Baretzki will become the Maison’s CEO,” Lambert said in the company-issued statement. “Mr. Baretzki has played an important role in the successful development of the Maison in the recent years and will be the right person to ensure the continuation of this route.”

Compagnie Financière Richemont SA owns a number of luxury brands in jewelry, watches and other luxury categories. In addition to Montblanc, Cartier and Jaeger-LeCoultre, they include: Van Cleef & Arpels, Giampiero Bodino, A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin. 

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Global Slump In Gold Jewelry Demand

Gold jewelry demand in the third quarter of 2016 fell 21 percent, year-over-year, to 493.1 tons largely due to high prices for the precious metal on the world market, according to the World Gold Council. However, every region faced its own difficulties that contributed to the decline.

“Barring just three or four very minor exceptions, jewelry demand fell in every consumer market that we track,” WGC said in its quarterly report, “Gold Demand Trends.”

The third quarter of 2016 was the largest decline since the second quarter of 2014 and the lowest third quarter for jewelry demand since 2011—a time when average gold prices were about 28 percent higher than recent levels. Year-to-date jewelry demand is down 18 percent from last year at 1,423.6 tons, the lowest total since 2009.

The WGC, the market development organization for the gold industry, expects a stronger fourth quarter due to gift-giving holidays throughout the world as well as a drop in the price of gold in October. However, it points out a number of troubling trends that may continued through the end of the year, including the changing tastes of Chinese consumers, the weal consumer environment in European markets, hesitant buying in the U.S. and the US and ongoing conflicts in the Middle Eastern.

India and China Lead the Decline
India demand fell 28 percent, year-over-year, to 154.7 tons in the third quarter due to higher and volatile prices of gold along with fragile sentiment among rural consumers and government regulation as it tries to force the industry to be more transparent, WGC said. India’s share of total jewelry demand has shrunk from 28 percent in 2015 to 24 percent year-to-date.

“India has taken a smaller slice from a smaller pie,” according to the report

On the flip side gold recycling has spiked in the country. The WGC expects rural sentiment to improve in the fourth quarter. 

Meanwhile, in China, the country’s appetite for gold is waning as gold jewelry demand fell 22 percent to 141.5 tons, as gold prices reached the highest level since 2013.

In addition, the WGC said consumer preferences are evolving in China, aided by industry efforts. Tastes are shifting away from traditional 24k gold towards higher-designed 18k or gem-set pieces. 

“However, this shifting landscape is not purely being driven by changing consumer tastes, according to the report. “Producers are playing a key role in promoting these products due to the higher margins they generate. The industry is still consolidating and competition is fierce. Manufacturers, wholesalers and retailers are battling for market share. Recognition of the importance of brand has led companies to promote their brands more actively through a range of channels, including franchising, celebrity endorsements and media.”

In addition, gold jewelry is competing with the rising popularity of travel and experiences among Chinese. 

Southeast Asia
“Jewelry demand was universally weaker among the smaller markets in as consumers balked at gold prices around three-year highs,” the WGC said in its report. 

In Indonesia, the largest market in the region, demand fell by 6 percent year-over-year in relation to slower-than-expected GDP growth in the country.

South Korea witnessed the largest decline in the region, down 24 percent, year-over-year, to 2.8 tons, again led by the high gold price along with economic deceleration in China, which purchases around 25 percent of South Korea’s exports. 

Japan was also affected by China’s influence as mainland tourists have been less active in buying gold during their travels to Japan. Demand slipped 4 percent to 4.2 tons.

Middle East in a "Parlous State"
The WGC describes jewelry markets as being in a “parlous state” against a backdrop in regional conflicts with record lows in gold jewelry demand. The region saw a 24 percent year-over-year decline to 24.1 tons, due to cuts in tourist demand, high gold prices and lower oil revenues. 

In Egypt, demand fell by 50 percent for the period due to a currency crisis that has almost doubled the price of local gold over the first three quarters of 2016. 

In the UAE and Saudi Arabia, demand in both markets plunged 23 percent.

The only bright spot was Iran, which managed a 6 percent year-over-year increase in demand to 11 tons.

Turkey saw a 22 percent drop in demand to 9.4 tons due to a slowing economy, record local prices and uncertainty following the attempted coup, the WGC said. Prospects for the fourth quarter remain weak as well.

United States Growth Stalls
For the first time in three years, U.S. gold jewelry demand declined by a modest 1 percent to 26.2 tons. Year-to-date demand of 74.6 tons is almost exactly on a par with last year. 

“Jewelry imports subsided during the quarter as inventory levels across the supply chain are at healthy levels,” WGC said. “Uncertainty associated with the presidential election campaign undoubtedly explains a portion of this weakness, but research

suggests that wealthy consumers have also become more reluctant to spend amid concerns about the global economy.”

European Demand Remains Soft
The WGC says poor consumer confidence across European markets had an effect on gold jewelry demand, which was down 1 percent to 12.6 tons in the third quarter. 

In France, demand has fallen to the lowest level in the history of WGC record keeping. In the third quarter, year-over-year demand dropped 4 percent to 1.9 tons. The country recently introduced a 9k gold segment.

“The market faces the continued risk of silver eating into the market share of low-carat gold jewelry,” the WGC said. 

All other European markets saw year-over-year declines of 1 to 2 percent for the third quarter with the exception of Spain, which reported a 2 percent gain. 

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Sarah Jessica Parker And Kat Florence Unveil Diamond Jewelry Collection

Sarah Jessica Parker in the ad campaign for Kat Florence’s “Flawless Diamond Collection” (Photo by Peter Lindbergh)

Sarah Jessica Parker and London jewelry designer Kat Florence have introduced a new collection of jewelry using D color diamonds called the “Flawless Diamond Collection.”

The collection will be unveiled over several months and organized into “chapters.” It is expected to grow to 120 individual designs across 10 chapters, “making it the largest collection of D grade diamonds ever created,” according to Florence. The first four chapters launched October 26 include pieces starting at $1,600.

Sarah Jessica Parker, Kat Florence and photographer Peter Lindbergh

D color is highest color grading a white diamond can receive. It means the diamond is colorless, which is rare. Flawless is the highest grade in the clarity scale. Diamonds that are D color and flawless or internally flawless are very rare. Florence said it took her a year to build a flawless, D-color diamond supply before she could create the collection.

The collection was created in collaboration with the actress and fashion icon, Sarah Jessica Parker, “who is the essence of the Kat Florence woman, making her the perfect person to work with Kat to develop these strikingly beautiful diamond pieces,” Florence said.

Jewels from the Flawless Diamond Collection. (Photo by Peter Lindbergh)

Parker reportedly was originally supposed to model the collection but then became involved in the design process, according to this story. She still modeled for the collection which was photographed by famed photographer and movie director, Peter Lindbergh. 

It’s not the first time Parker has collaborated in a jewelry design project. In 2014, she worked with high jewelry artist Cindy Chao to create a one-of-a-kind butterfly brooch that was auctioned at Sotheby’s Hong Kong for $1.2 million. All the proceeds went to the New York City Ballet. 

The four chapters in the Flawless Diamond Collection that were recently released are as follows:

Butterfly from the Pavé Hews Chapter

Chapter 1 – Pavé Hews
Pavé is French for pavement. Diamond pave is a traditional technique where tiny diamonds are set close together to create a seamless and glittering surface of jewels. “I focused on the uniform placement of the diamonds to ensure they capture the light from every angle,” Florence said. 

Majestic Gold from the Heritage chapter

Chapter 2 – Heritage
Inspired by Florence’s travels, the pieces reflect the sleek angles of Art Deco design, found in the iconic architecture and designs of New York. Paris and Rome.

Hearts of Gold from the Opulence chapter

Chapter 3 – Opulence
Polished 18k gold sprinkled with diamonds.

Leaves of Gold from the Symmetry chapter

Chapter 4 – Symmetry
A melding of past and present, with the angles, lines and floral motifs of 1920s and 30s design recreated in contemporary designs. Diamonds are set in 18k yellow and white gold.

“Kat Florence allows for an intimate way to wear jewelry—Kat can tell you about every piece, what it means to her and why she chose a particular technique,” Parker said in a statement. “The Flawless Diamonds Collection feels special when you wear it because every piece is so important to her. Kat is a woman doing this her own way and you feel lucky and privileged to be wearing her jewelry.” 

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Alex Soldier Designs Princess Grace Award Given To Queen Latifah by Prince Albert II and Princess Charlene of Monaco

Prince Albert II and Queen Latifah who is holding the Prince Rainier III Award created by Alex Soldier

New York-based jewelry artist Alex Soldier designed the Prince Rainier III Award that was given to Queen Latifah during the 2016 Princess Grace Awards Gala, held at Cipriani's 25 Broadway in New York City.

Prince Albert II and Princess Charlene of Monaco presented the award to the famous singer and actor for her philanthropy across many charities

The Prince Rainier III Award created by Alex Soldier

Soldier is known for his handmade jewels and art objects. The lean statuette incorporates symbols representing all three disciplines that were close to the heart of Grace Kelly, princess of Monaco, and lauded by the foundation: theater, dance and film. It is composed of connected symbols denoting these three art forms. The modern streamline award also features an abstract version of the American flag and the PGF-USA logo in a repeated pattern. It’s made primarily of platinum-plated silver with black obsidian and Swarovski crystal accents. The metalwork displays a special texturing technique that is signature to Soldier’s style. He created smaller versions of the award, which were presented to each Princess Grace Awards winner to wear as a pin.

The award was named in honor of Prince Rainier III who helped begin the Foundation more than 30 years ago to honor his wife, Grace Kelly’s legacy.

The Princess Grace Foundation-USA—which awards grants in the form of scholarships, apprenticeships, and fellowships to emerging talent in theater, dance and film—commissioned the New York-based artist to create the award in 2009 to present to a celebrity in the arts each year who has made it his or her personal mission to give back. The design has been used ever since.

Alex Soldier White Swan earrings worn by Queen Latifah

Alex Soldier’s jewels were also in full view during the event. Latifah wore Soldier’s White Swan Earrings. The form of the center stone resembles a swan's head, and the elongated diamond bar is curved into the shape of its neck. The Limited edition drop earrings are made with a white topaz center stone, white quartz and white diamonds.

Jewelry designer Alex Soldier (right) attends the 2016 Princess Grace Awards Gala with his daughter Maria, Alex Soldier brand’s creative director. (Photo by Dimitrios Kambouris/Getty Images for Princess Grace Foundation)

Soldier attended the event with his daughter Maria, Alex Soldier brand’s creative director. She wore several Alex Soldier jewels, including the Aster Flower centered with a large, faceted lemon citrine Astra with yellow sapphire and white diamond accents and detailed metalwork. It can be worn as a brooch, pendant, ring or a cuff. She also wore the Swirl cuff with rhodolite garnets; and Royal Earrings made of blue topaz, lemon citrine and rhodolite garnets set in 18k white gold.

The Alex Soldier Aster Flower jewel centered with a large, faceted lemon citrine with yellow sapphire and white diamond accents. It can be worn as a brooch, pendant, ring or cuff.

Other event highlights: Leslie Odom Jr. and Camille A. Brown received the Princess Grace Statue Award. Naomi Campbell served as the evening’s host and NYC Ballet principals Tiler Peck (Princess Grace Award Winner) and Robert Fairchild performed.

Alex Soldier Swirl cuff with rhodolite garnets

Established more than 30 years ago by Prince Rainier III to honor his wife Grace Kelly, princess of Monaco, the Princess Grace Foundation-USA’s annual gala celebrates the outstanding accomplishments of emerging artists in theater, dance and film in the presence of the royal family of Monaco.  

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Investor Group To Acquire Blue Nile And Take It Private as Q3 Sales Drop 4.3%

In a Monday morning shocker, online jeweler Blue Nile said Monday that it has entered into an agreement to be acquired by an investor group led by Bain Capital Private Equity and Bow Street LLC. The all-cash deal is valued at $500 million. 

the investor group will acquire 100 percent of the outstanding shares of Blue Nile common stock. Blue Nile stockholders will receive $40.75 in cash per share, representing a premium of approximately 34 percent over Blue Nile's closing price on November 4.

An interesting tidbit from a personal perspective is that I was able to view the Blue Nile Fulfillment Center operation and recently wrote about it for Forbes.com. Was I used to help finalize the deal?

The acquisition deal, which requires customary closing conditions, including the approval of Blue Nile's stockholders and regulatory approvals, is expected to close in the first calendar quarter of 2017, the companies said in a joint statement.

“Since its inception, Blue Nile's guiding principle has been to provide value to its customers, suppliers and shareholders and this transaction provides tremendous value to all,” Harvey Kanter, Blue Nile chairman, CEO and president, said in the statement. “Blue Nile will continue its innovative drive that has disrupted the diamond industry and made us the smartest, easiest, and most pressure-free way for consumers to buy a diamond.”

Ryan Cotton, managing director at Bain Capital Private Equity added, “This is an opportunity to acquire a true disruptor in a fundamentally attractive and growing segment of the diamond industry…. We believe the company will continue to grow as educated consumers continue to seek easy and convenient shopping experiences that deliver transparent pricing and enhanced value.”

Howard Shainker, managing partner at Bow Street said, “Blue Nile is a unique business with a strong platform in an industry that is rapidly evolving and migrating online. We are excited to work alongside Blue Nile management and Bain Capital to execute on the company's strategy.”

Blue Nile's board of directors unanimously approved the deal and recommended that stockholders vote their shares in favor of the transaction. Blue Nile will become a privately-held company and continue to be headquartered in Seattle. 

Blue Nile also may solicit alternative acquisition proposals from third parties during a 30-day “go-shop” period, following the date of execution of the merger agreement.

The announcement came at the same time Blue Nile released its third quarter earnings report, which showed a year-over-year net sales decline of 4.3 percent to $105.1 million for the period ended October 2. The report was issued without comment and a conference call scheduled for Monday was abruptly canceled. 

Operating income for the quarter totaled $1.8 million, representing an operating margin of 1.7 percent of net sales, compared to $3 million in operating income and 2.8 percent operating margin for the third quarter 2015. Net income totaled $1.3 million, or $0.11 per diluted share versus $2 million, or $0.17 per diluted share for the third quarter 2015.

Non-GAAP adjusted EBITDA for the quarter totaled $4.2 million compared to $5.3 million for the third quarter 2015. 

Other third quarter highlights include the following:

* U.S. engagement net sales decreased 8.5 percent to $59.5 million. 

* U.S. non-engagement net sales increased 1.2 percent to $25.3 million. 

* International net sales increased 1.8 percent to $20.3 million. Excluding the impact from changes in foreign exchange rates, international net sales increased 4.2 percent. 

* Gross profit totaled $20.6 million. As a percent of net sales, gross profit was 19.6 percent compared to 19.3 percent for the third quarter 2015. 

* Selling, general and administrative expenses were $18.8 million, compared to $18.2 million in the third quarter 2015. This included stock-based compensation expense of $1 million for the third quarter 2016 and $1.3 million for the third quarter  2015. 

* At the end of the third quarter, cash and cash equivalents totaled $40.6 million.

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

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