For decades, jewellery houses have traditionally timed the presentations of their high jewellery collections with Paris Haute Couture Week, which takes place every summer and January. However, this autumn, a shift is occurring in the luxury jewellery industry, with brands increasingly using the season to launch exclusive high jewellery collections. This trend, which emerged in recent years with a few brand-led events, has gained momentum in 2024, marking autumn as a key moment for new jewellery introductions.
The rise of autumn as a strategic time for high jewellery launches brings several benefits for jewellery houses. According to Federica Levato, senior partner and EMEA leader of fashion and luxury at consulting firm Bain & Company, the autumn period presents a natural uptick in consumer activity, especially among high-net-worth individuals. This period aligns with the start of holiday shopping, including major gift-giving occasions like Christmas, Hanukkah, and New Year’s, particularly in Western markets.
Levato explains that as luxury shoppers begin to compile their holiday wish lists, jewellery becomes one of the most popular categories for investment. She notes, “Autumn is when luxury shoppers start making lists,” making it an ideal time for brands to present new collections and encourage purchases.
Jewellery: A Resilient Category Amid Economic Slowdowns
Despite a challenging economic landscape, jewellery has proven to be one of the most resilient segments of the luxury goods market. For example, during the third quarter, LVMH’s fashion division saw a 5% decline in sales, and Kering experienced a 16% drop during the same period. Yet, according to Bain & Company, the jewellery sector has remained strong, showing that luxury consumers continue to spend on high-end pieces.
Jewellery houses, therefore, are capitalizing on this continued demand by timing their releases for maximum impact. Executives in the jewellery industry privately admit that sales of high-end pieces, particularly those priced over $1 million, are at record levels. However, they acknowledge that the demand for more entry-level jewellery pieces has slowed down as luxury consumers increasingly focus on exclusivity and investment in rare, high-value items.
Piaget: A Celebration of 150 Years
Leading the charge in autumn jewellery launches is Piaget, a brand that is continuing to celebrate its 150th anniversary in 2024. To mark this milestone, Piaget is partnering with the Abu Dhabi Tourism Board to host an exclusive event this month. The event will unveil the second chapter of its high jewellery collection, “Essence of Extraleganza,” showcasing a new selection of luxurious pieces. In addition to the jewellery collection, Piaget will also debut a limited-edition “Andy Warhol” watch, further enhancing the brand’s portfolio.
Benjamin Comar, Piaget’s CEO, explains that the brand’s decision to present these new collections in autumn is the result of a key insight into consumer behavior. “Clients are ready to purchase at different moments,” says Comar. “It’s all about the experience and being close to them.” Piaget has been proactive in developing personal relationships with its clientele by presenting high jewellery pieces outside of traditional showings, creating exclusive experiences that cater to the personal tastes of its top clients.
Dior and Tiffany & Co. Follow Suit with Autumn Presentations
Piaget is not alone in embracing the autumn launch window for high jewellery collections. Dior is also unveiling its second chapter of the Diorama & Diorigami high jewellery collection this month, choosing Abu Dhabi as the location for the exclusive presentation. The first chapter of the Diorama & Diorigami collection was introduced earlier this year in Florence, but the brand’s decision to present the second chapter outside of Europe reflects a broader trend among European jewellery houses to reach new and expanding luxury markets.
Tiffany & Co. is another major player capitalizing on the autumn jewellery launch window. The brand used the opening of its new store in Madrid to showcase the third chapter of its animal-inspired Céleste collection. This launch comes on the heels of the city’s growing status as a hub for luxury shopping, which has boomed over the past three years.
Anthony Ledru, president and CEO of Tiffany & Co., highlighted the importance of Madrid as a key luxury market, stating, “Madrid has been a booming city for luxury over the past three years. We are immensely committed to our clientele in Spain and see incredible growth potential in the market.” He emphasized the brand’s investment in its Spanish flagship and the broader European market.
Strategic Expansion in Europe
While many European jewellery houses have traditionally unveiled their second autumn chapter of collections outside of Europe, Tiffany & Co.’s decision to focus on Madrid reflects the company’s strategy to bolster its presence in Europe. Analysts speculate that Tiffany’s choice of Madrid is part of a broader plan to strengthen its high jewellery credentials on the continent, where the brand is better known for its bridal collections and more accessible, entry-level offerings.
Ledru reinforces this strategy by noting, “Europe remains a magnet for high-end luxury shoppers, and we are investing heavily in key flagships to offer a flawless client journey. The house has an incredibly rich history in Europe, and we’ve been able to honour this legacy and authentically expand our reach across the region.”
The focus on Europe aligns with the broader trend of luxury brands investing in flagship stores and bespoke client experiences to create a deeper connection with their top-tier consumers. Tiffany’s strategy, in particular, is indicative of how brands are tailoring their approaches to meet the growing demands for high jewellery and unique, high-value pieces.
The Rise of Autumn in the High Jewellery Calendar
The emergence of autumn as an optimal time for high jewellery launches underscores the changing dynamics of the luxury market. With luxury consumers increasingly seeking out exclusive experiences and rare pieces, jewellery houses are finding that autumn is the perfect moment to showcase their new collections, ahead of the critical holiday season.
The success of recent autumn presentations, such as those by Piaget, Dior, and Tiffany & Co., shows that the jewellery industry is adapting to meet evolving consumer expectations. These brands are no longer confined to traditional seasonal launch schedules but are instead embracing the flexibility to present their collections when the demand is highest.
Looking Ahead: The Future of High Jewellery Launches
The growing trend of autumn high jewellery launches raises questions about the future of the jewellery industry. Will the autumn season continue to emerge as a rival to the traditional haute couture months, or will it eventually become a permanent fixture in the luxury calendar? What is clear is that luxury brands are responding to a shift in consumer behavior, recognizing that the demand for high-end jewellery is not confined to the traditional months of January and July.
In conclusion, the rise of autumn as a key period for high jewellery launches represents a strategic pivot for luxury brands. With key players like Piaget, Dior, and Tiffany leading the charge, it is clear that the jewellery industry is capitalizing on consumer demand during the season, cementing autumn as an important moment in the high jewellery calendar. The continued success of these launches will likely shape the future of the industry, creating new opportunities for brands to engage with high-net-worth individuals and expand their reach in both established and emerging luxury markets.
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