RAPAPORT... Verdura, New York, is anything but a typical jewelry store. First, there’s no street-level shop. Visitors enter 745 Fifth Avenue through a high-ceilinged lobby, are greeted by a doorman and invited to ascend to the 12th-floor showroom/salon.
Upon entering, one gets a bird’s-eye view of Central Park on one side and the windows of the Plaza Hotel condominiums and Bergdorf Goodman on the other. The comfortably furnished rooms are divided by vitrines and showcases filled with Verdura’s jewelry and artwork, with the collections labeled “Paris,” “New York” and “Hollywood” to reflect the various periods of the jewelry designer’s life. Photographs of movie stars and noted patrons cover the walls; strains of Cole Porter and Edith Piaf play softly in the background.
Born in 1898, Fulco Santostefano della Cerda, Duke of Verdura, typified the glamour of the Jazz Age, with his noble Sicilian family background, his travels around the world and his friendships with such notables as Coco Chanel, for whom he worked designing jewelry, Cole Porter, the Duchess of Windsor, Vincent Astor and members of international and Hollywood royalty. Backed by the Porters, he opened his first U.S. salon in New York in 1939. Verdura retired in 1973 and died five years later.
Fast ForwardIn 1985,Ward Landrigan, a long-time admirer of Verdura’s designs and former head of Sotheby’s USA jewelry division, where he worked from 1964 to 1973, bought the Verdura name and design archives. It was only after the purchase that he discovered the extent of the archives, which totaled 10,000 designs. Today, Landrigan serves as chairman and chief executive officer (CEO) of the company and his son Nico, after six years with the company, was named worldwide president this past September. They have struck a delicate balance: moving the company forward to keep up with the times, but still retaining the authenticity of Verdura’s designs.
Landrigan himself had an unusual entry into the jewelry business. He began working for a local jeweler in his hometown of Springfield, New Jersey, at age 14 to satisfy an after-school-job requirement for his Boy Scouts’ membership. The jeweler kept him on after the project ended and Landrigan developed a fondness for the world of gems and jewelry. After graduating from college, he went to work at the former auction house, Parke-Bernet, which was subsequently acquired by Sotheby’s. It was at Sotheby’s that he was introduced to Verdura’s jewelry when he prepared an auction catalog for a collection of Verdura-designed cigarette cases that had been commissioned for Cole Porter by his wife, Linda, to commemorate the openings of Porter’s plays.
In the 1930s, the salon worked “by appointment only” but is now open to walk-ins.“This is a personal business,” Landrigan says, pointing out that the children of former customers have become clients. The challenge, he says, is to encourage the next generation to visit the salon.
CollectionsA means to that goal is the new diamond engagement ring collection inspired by Nico, who recently became engaged. As most things Verdura, these are not typical engagement rings. The actual designs are adapted from Verdura’s archives and produced using modern materials. In many cases, the center diamonds are supplied by the customers. Other times, the client will request a particular shape, size or quality and several stones will be brought in from which they can choose. “We try not to buy diamonds,” says Landrigan. “We have good relationships with a number of dealers.”
For the most part, Verdura’s jewelry revolved around colored gemstones. The designer loved the range and variety of natural colors and mixed them imaginatively in his nature-, mythological- and art-inspired designs. In fact, he had little regard for ostentatious, large-diamond pieces. In his designs, diamonds were used not as focal points, but to enhance the overall look of the jewelry. Today, when diamonds are used, the company opts for high quality — even melee is E to F color and VVS clarity. But if a client wants to use lower-grade diamonds, he is accommodated, says the CEO.
To date, Landrigan estimates that he has produced about 500 of the 10,000 designs in Verdura’s archives. In his lifetime, Verdura himself made about half of his designs, many of which are still worn today and occasionally show up at auction. When deciding which new designs to produce, Landrigan says he listens to advice from his sales department, then “looks through the books and chooses his favorites.”
September 2009 marked Verdura’s seventieth anniversary in America and to celebrate, a collection of 36 new pieces was introduced. Re-creations from the company’s archives include necklaces, bracelets, earrings and rings. All of the new pieces are individually numbered, signed “Fulco” and bear the dates 1939-2009. A number of the vintage pieces were not signed, said Landrigan, but the new signature is intended to differentiate the anniversary collection from older pieces.
Verdura jewelry is sold in the New York boutique, as well as salons in Neiman Marcus, Bergdorf Goodman and Betteridge’s in the U.S., and Harry Fane in London. There are frequent trunk shows, personal appearances and in-store events used as a means of keeping in touch with existing customers and introducing the brand to a new generation. For example, during the months of September through December 2009, an estimated 16 shows were planned, one a fashion event in conjunction with furrier J. Mendel. Often, the events are tied in with charities.
While retails of some of the one-of-a-kind pieces can reach into the high six figures, the bread-and-butter of today’s sales are in the $10,000-to-$15,000 range, says Landrigan. Where many of the older pieces were gemstone-intensive and bold, a large portion of the new pieces showcase gold and diamonds and are aimed at a younger audience. Also included in the current collection are desk and tabletop accessories in sterling silver, with retails beginning at $250.
HollywoodA 2007 movie about Cole Porter’s life, entitled “De-Lovely,” and the recently released “Coco before Chanel” feature a number of Verdura designs. As in the designer’s own era, media publicity and celebrities wearing the jewelry are a good means of introducing the brand to the public, but the key to sales is the uniqueness of Verdura’s designs. Says Landrigan, “Why have something that isn’t special?”
Article from the Rapaport Magazine - December 2009. To subscribe click here.