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Italy's Forward Fashion

By Marco La Pera

When it comes to fashion-forward designs, Italy is the uncontested center of the jewelry world. The designs Italian manufacturers have unveiled for fall and winter 2006 are cleaner and more geometric — keeping in line with international runway trends — but with a characteristic Italian flair.

The country’s slumping economy makes consumers cautious and more likely to turn to inexpensive alternatives. But the success of Italian brands such as Pianegonda, Breil, and Morellato can be explained by their capacity to propose new styles that have a tremendous appeal to young people. Simple yet eye-catching items made of stainless steel with yellow gold, silver, and natural materials such as ebony look good on skirt suits as well as more casual outfits. The point is to look fresh and unusual.

Neck and Neck

Italian designers’ infatuation with lariats and lassos shows no sign of abating: They come in all shapes, with diamonds or colored stones. Their versatility allows them to be worn any which way around the neck, dangling seductively in the décolletage.

Chains are developed around basic, simple geometric shapes like the square, circle, and triangle; oval shapes will also be hot, worn in long, multiple layers. The key word is bold: An eye-catching look where symmetry and a balanced design is never dull or banal, but rather stands out in its sophisticated yet simple elegance.  

The design philosophy is clean lines, bringing design back to the cubic forms of Art Deco from the 1940s.

For those not into the basic modern look, try the full-bodied bibs or imagine the feeling of woven chains and multi-stranded filigree textures.

Eyes On the Wrist

Jewelry houses in Italy are preparing a yellow gold rush for the fall and winter of 2006. This is especially evident with bracelets. Large, wrist-wrapping bangles will be seen worn with casual outfits to pep up the look.

Compared to last year, design is less elaborate and more solid. Whether it’s polished yellow gold or a satin finish, it’s got to have a huge visual impact. Colorful charm bracelets come in gold and colored stones or enamel, oversized and glamorous.

Long and Lively

Long, dangling earrings are the trendy design this fall. White gold is especially hot when combined with diamonds and colored stones, but yellow gold earrings are alive and kicking. Loops twist and twirl, resembling the infinity symbol.

Business Challenges

In addition to the well-known geopolitical situation and the challenges of globalization, there are recent developments in the jewelry market that are affecting the way that manufacturers do business.

Market indicators show that their biggest competition is not other jewelry companies, but the luxury sector, including such brands as Gucci, Dior, and Louis Vitton (LVMH). Presently, only 15 percent of international fashion brands have a share in the jewelry sector, but this will increase in terms of investments and advertising. These brands bring more marketing power to the table: On average, jewelry firms spend only 2 percent of their budget on advertising, while the luxury sector spends an average of 10 percent.

Luxury brands are also vertically integrating. Bulgari recently bought Crova, a company specializing in top-quality jewelry production, and is working on a joint-venture with Leviev group, which is involved in all the stages of diamond production "from the mine to the woman." This is to ensure supply of material and higher profits.

Meanwhile, the lifespan of branded luxury items of all types is getting shorter. For example, in 2003 Cartier's new collection was 6 percent of its overall output; in 2005, the target was 15 percent. The key to success will be the ability to sell new products quickly, which is possible only through strong marketing and advertising.

Consumers are getting more sophisticated. The most important change in recent years is that consumers are better informed and expect better quality and service, including specialized personnel.

They are also sensitive to moral and environmental issues, such as gemstones that come from war zones, child labor abuse, and environment friendly production.

The age gap is polarizing. On the one hand, people are living longer, so a larger percentage of the population is over 65 — thus increasing the average item price. At the same time, luxury brands are targeting the youngest demographic, getting them used to buying jewelry at an earlier age.

The market is expected to increase from $57 billion in 2003 to $84 billion in 2012. This is due to an increase in price. Analysts expect the consumer will be willing to spend more on branded goods with better marketing and product design. The producers must adapt quickly, and therefore companies must invest in design and research. For a jewelry house to be successful, the consumer has to be the focus of attention.

BACK TO ORIGINAL ARTICLE: Tone Down, Dress Up

May/June 2006 • Style: Tone Down, Dress Up • Selling: Beryllium-Diffused Sapphire? • Online Bonus: Italy's Forward Fashion • In This Issue