Rapaport Magazine

Retail Scope


Cartier and
Tiffany & Co. Named In Top 100 Global Brands

Coca-Cola topped the list of “Best Global Brands 2012” according to Interbrand’s 13th annual report of the world’s top 100 most valuable brands on an annual basis. Apple and IBM came in second and third on the global consulting firm’s list. Rounding out fourth place was Google, which for the first time exceeded the brand value of Microsoft, which came in at fifth place.

Jewelry and jewelry-related brands also made the list. Louis Vuitton ranked seventeenth overall, while eBay was at 36th place, Gucci at 38th, Cartier at 68th, Tiffany & Co. at
70th and Avon ranked at 71.

Apple had the biggest brand value increase in 2012 at 129 percent year on year, followed by Amazon at 46 percent and Samsung at 40 percent. New entrants to the list included Facebook at number 69, as well as Prada, Kia, Ralph Lauren, MasterCard and Pampers.

Platinum Ties the Knot
Platinum Guild International (PGI) USA and wedding network The Knot joined together for an industry presentation on how to sell more platinum.

Laura Cave, director of trade marketing with The Knot, gave a presentation highlighting the following points:
  • Couples spend an average of nearly $5,200 on an engagement ring.

  • White metals are the most popular. White gold is chosen by 73 percent of brides and platinum is selected by 16 percent of brides.

  • The two most popular diamond shapes are round, selected by 53 percent of brides, with princess selected by 30 percent of brides. 

  • The number-one concern for brides choosing an engagement ring is the style of
    the setting. Diamond shape is their second concern, with diamond quality as the number-three priority. For grooms, the stone quality is most important, followed by style and then stone shape. 

  • The average search for an engagement ring is three months, 27 rings are considered before purchase and four retailers are visited.

Kevin Reilly, director of business development at PGI USA, had the following suggestions for building profits with platinum:
  • According to a Condé Nast Bridal Group (CNBG) wedding study, 81 percent of brides desire platinum.

  • Platinum’s higher average transaction size delivers bigger gross profit dollars; profit is measured in dollars not margins.

  • Stock more platinum to enable selling more platinum in a range of price points.

  • Stock best-selling bridal items in platinum.

  • Get the bridal customer to fall in love with platinum by explaining its attributes — naturally white metal, very strong to hold the diamond securely and hypoallergenic.

  • Sell the setting first, which is more profitable than the diamond.

  • Train your sales staff to say, “We recommend platinum.”

Swiss Watch Exports Climb
The Federation of the Swiss Watch Industry reported a record 16 percent year-on-year increase in exports of Swiss-made watches in the first eight months of the year, representing $13.9 billion (CHF 13 billion) for more than 23 million watches.
Asia accounted for more than half of these exports in terms of value and that region remains the biggest market for Swiss watches. Sales of fine watches rose by 21.5 percent.

Buoyed by these numbers, Swiss watch brands anticipate a strong holiday season, with vintage styles and sports watches that highlight functionality and innovation expected to sell well.

Chopard Launches Ecommerce Boutique
Chopard launched us.chopard.com, its first ecommerce boutique. The newly designed website was developed to increase brand awareness and will serve as a pilot program for other global markets.

The website was created to meet several goals, including driving traffic to Chopard stores as well as reaching consumers in major metropolitan areas that do not have a Chopard boutique or retail partner in their region. The company noted that the website will feature several collections, such as Happy Diamonds, Imperiale and Classic Racing, specialty pieces and exclusive limited editions with prices ranging from $100 for accessories to more than $65,000 for fine jewelry.

Cherie Dori Introduces New Bridal App
Cherie Dori announced the launch of “The Vow,” its new bridal jewelry sharing
platform that features a unique ring-finder application for iPhone, iPad, Android and Facebook, and is designed to engage the 18 to 34 bridal demographic when they are not in the jewelry store.

According to the company, the enhanced sharing capability, along with the embedded information about participating jewelers, distinguishes The Vow from other ring-finder apps. Location-based technology enables the user to browse rings in high definition
from the nearest participating jeweler on their phone and share them with friends via text
or email. For more information, users can hit a “request a quote” button, which
sends an email directly to the jeweler, opening communication between the jeweler and new potential customers.

Each participating jeweler will gain exclusive market rights to the app, as well as a customized Facebook app that will be embedded on the jeweler’s Facebook page.

Compralux Creates Jewelry Portal for Hispanics
Compralux,™ a subsidiary of Zalemark Holding Company Inc., launched its
Hispanic Shopping Network web portal to sell watches and jewelry specifically designed for the Latino community. Zalemark is led by jewelry designer Steven Zale, whose collections include precious metals and gemstones that celebrate romantic, family and religious occasions.

Article from the Rapaport Magazine - November 2012. To subscribe click here.

Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.