Luxury Warming up in Las Vegas

Jewelry by Sylvie

(IDEX Online News) – As the Las Vegas tradeshow week entered its second day, the show floor was beginning to hum at the Luxury show. After a slightly disappointing first day, which saw fewer buyers and browsers than exhibitors expected, business picked up at the invitation-only show.
 
Lazare Kaplan used the show to reveal its new re-branding concept and revamped displays for retailers. The new modular displays have already had a good reception, said vice president, Marketing, Marcee Feinberg, who said they are designed to “help retailers sell through the diamond.”

After a quiet first half to the year, the company is hopeful that the second part of 2012 will be much more active. “Retailers said they were waiting for JCK before buying new merchandise,” explained Feinberg. “They also had a lot of left over merchandize from the holidays and are just waiting to see what is going on in general.”

Despite the quiet start to the year, Feinberg – like most others – said engagement rings are the big sellers, even if they are not quite as big as they once were. “Engagement rings are recession-free. Even if couples are not spending a lot, they are getting that ring.”

With the “Petite” collection, designer Sylvie Levine of the Sylvie Bridal Collection is also catering to buyers who are on a budget. The line offers center stones ranging from 30-90 points in settings that manage to make the diamonds a lot bigger than they are.

This ability to provide eye-catching items at lower price points (as well as more expensive pieces) is one of the reasons that business was brisk at the booth and no doubt also why the brand, which launched just four years ago, has already found its way into 200 doors.

First-time Luxury exhibitor Amrapali may be well-known for its red carpet appeal, but the Indian company’s gemstone sliced jewelry gives consumers the chance to wear something big, bold and eye catching, at reasonable prices. “Everyone seems to like the sapphire and ruby slices,” says Akanksha Arora. “They are doing well for us right now.”

Currently, she said, U.S. customers are looking either for items below $5,000 or they want pieces priced between $10,000-$15,000. To try to cater to the former, the company has begun adding silver to its pieces to cut down the price point. “It’s something we have always used, but now we are using it more,” says Arora.

In India, on the other hand, she says, buyers are opting for really expensive wedding sets, around the $25,000 price mark, or they are buying silver jewellery. “There’s no lower-end market like there is in the U.S.”

Along with “traditional” Indian gems such as rubies and sapphires, the company has also begun to work with tanzanite. Interestingly, the reason is that because of superstition, consumers in India would never wear blue sapphire without being told to do so by an astrologer.  

Luxury runs until June 4.