High Jewelry Collection Represents 400 Years Of Family Ownership

This complex, open-work necklace from the Medici collection required what the jewelers described as "new articulation systems" to ensure its beauty and comfort.

The Parisian high jewelry house, Mellerio dits Meller, has spent 2013 celebrating a landmark for longevity that is rarely, if ever, achievable. The luxury jeweler, whose client list over the centuries includes nearly all of European royalty, has been operating under the ownership of the same family for 400 years.

A gold corsage tops this brooch where emeralds and pearls move freely.

It is considered to be the oldest jeweler in the world and the oldest family-owned company in Europe. It has the original books and paperwork to back up those claims in its rich archives, which are kept in its 9 Rue de la Paix boutique and workshop.

The Medici diamond tiara.

The firm, now owned and operated by the 14th generation of the same family, specializes in hand-made jewelry, almost all of it created on premise. The company was founded by the Mellerio family in 1613 in the rural region of northern Italy that borders Switzerland. It was created because of an act of royalty. Specifically, Marie de’ Medici, Queen of France, granted special privileges to the Mellerio family by royal decree, which allowed the family firm to trade throughout much of Europe.

The same diamond tiara shows its versatility by converting into a necklace.

The family began trading in Versailles in 1777, where it attracted the patronage of its most famous client, Marie Antoinette. In 1796, the firm moved to Rue Vivienne, Versailles, retaining the patronage of the Empress Josephine. The firm then moved to Paris eventually settling at 9 Rue de la Paix.

Medici Lush emerald ring

The company opened a second shop in Madrid in 1850 to service the Spanish royal family, including Queen Isabella II. It has a long close relationship with the Dutch Royal Court. It also operates in Luxembourg and Japan.

Medici Lush eight-flower ring

To celebrate its milestone the company created a high jewelry collection named after its founding patron, Marie de’ Medici, which represents the grand history of the royal jeweler.

To create the Medici collection, the family looked into its past using its archives. They also invited well-known jewelry designer, Edéenne, a Canadian native who now works in Paris. She created modern interpretations of jewelry inspired by the old drawings.

The result is a collection of pieces inspired by nature that are sensual, complex and at the same time easy to wear. There are openwork pieces and items made with “grey” gold. There are pieces that are rough in texture, recreating an antique feel. And of course there’s a tiara. In this case one that converts into a necklace, which harkens back to 19th Century jewelry usage.

The company also released a book, in French, chronicling its history, Mellerio dits Meller: Joaillier des Reines, by Vincent Meylan, published by Éditions Télémaque.

I will be writing more about this remarkable company in the coming year.

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Bulgari Exhibit in Paris

Photo by Filippo Monteforte of AFP

If in Paris during the holidays it would be a good time to stop in the Grand Palais to view the Bulgari exhibit, which examines the history of the Italian luxury jeweler and its influence on world culture.

Photo by Filippo Monteforte of AFP

“125 years of Italian Magnificence” looks back over the key moments in the history of the celebrated jewelry maker and the development of Bulgari design, from the opening of the first boutique on Rome's Via Sistina in 1884 to the present day. More than 500 precious items illustrate the path followed by Bulgari on the way to becoming the world's leading exponent of precious, highly colorful jewelry.

Photo by Filippo Monteforte of AFP

Divided chronologically into periods, the retrospective begins with designs using silver and diamonds from the first half of the 20th century, then shows the creative turn taken in the 1960s with the emergence of a new style combining precious stones with rarely used original materials. The exhibition continues with the eclectic style inspired by 1970s pop art, the bold designs of the 1980s and 90s, right through to the spectacular designs of the 21st Century.

Jewelry, drawings, cinema stills and original items from private collections are contained in the exhibit, including Bulgari's own vintage collection and pieces owned by Elizabeth Taylor.

Tiffany & Co. to Open Flagship Paris Store on Champs Elysées

Rendering of Tiffany's planned store in Paris.

Tiffany & Co. said Tuesday that it plans to open a new European flagship store in Paris. The 10,000-square-foot, multi-level store will be located at 62, Avenue des Champs Elysées and is expected to open in 2014.

"This is a significant development and sales opportunity for Tiffany & Co. While we have been successful in operating three smaller stores in Paris, establishing this store on the Champs Elysées will be the ultimate symbol of Tiffany as a truly global luxury brand," said Frederic Cumenal, executive vice president, Tiffany & Co. "This is a preeminent location that firmly places Tiffany & Co. on an international stage, in the heart of a city where people from all over the world come to visit and shop."

The opening on the Champs Elysées will mark a new milestone in Tiffany's connection to Paris, which began in 1850 when the company established its first store. In 1999, Tiffany returned to Paris with a store on rue de la Paix.

In March, the owner of the rue de la Paix building that housed Tiffany’s Paris store, placed the property for sale. 

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Graff Honors Paris With Two Statement Jewels For La Biennale

Royal Star of Paris

The Biennale des Antiquaires at the Grand Palais in Paris hosts some of the top high jewelers in the world who release special collections every two years just for this event. Graff Diamonds marks its return to the show by unveiling a new collection led by two statement jewels centered by standout diamonds and gems: the “Royal Star of Paris,” and “Le Collier Bleu de Reve.”

The Royal Star of Paris, a brooch (which also can be worn as a pendant) has two diamonds of at least 100 carats each: the “Graff Sunflower,” a 107.46-carat fancy yellow cushion cut diamond and the “Graff Perfection,” a 100-carat D flawless pear shape diamond drop.

“We create legendary stones with remarkable stories to tell, one such diamond is the Graff Perfection, Graff said. “Following many hours of painstaking work, we unleashed the true potential of an incredible 225 carat rough diamond, transforming it from perfection to ultra-perfection.”

Le Collier Bleu de Reve

Le Collier Bleu de Reve is set with a 10.47 carat fancy vivid blue internally flawless briolette diamond. The other key stone is a 4.22 carat untreated old-mine Colombian emerald. The central element of the jewel can be detached from the beaded diamond necklace and worn alone as a brooch.

“I truly believe that when you are searching for the perfect precious gemstone you should look for an emerald greener than green,” Graff said. “The emerald in this necklace really is greener than green and incredibly clear.”

The remaining pieces in the Biennale collection continue the theme of stone-led design; with brooches made of rare colored diamonds and gemstones, necklaces depicting natural motifs using gemstones, and designs with beaded tassels all complemented by bracelets and earrings.

All of the jewels, including the statement pieces, are hand-crafted at Graff’s London atelier.

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Lalique Opens First Jewelry Boutique In A Century And Unveils New Jewelry Collection

Entrance of the new Lalique jewelry boutique in Paris at 20 rue de la Paix.

It took over a century for Lalique to return to its roots and did so in a big way.

Lalique Soleil de Gaïa Necklace consisting of three rows of hematite beads (86 517ctw.), two rows of 82 bezel-set blue sapphires (11.13ctw.), green sapphires (30 4.39 ctw.) and 16 yellow sapphires (2.28 ctw.), set in yellow gold. In addition, two Scarabée motifs in yellow gold paved with one 160 diamonds (5.66 ctw.), 108 black spinels (4.16 ctw.), two hematites (4.43ctw.), four triplets of cabochon-cut opal (14.49 ctw.) and engraved white mother-of-pearl, lacquer. The piece can used for five different looks.

The French luxury recently opened its first jewelry-dedicated boutique since its founder opened the first store nearly 110 years ago.

Lalique chandelier made of 2,500 Gourmande rings serves as the centerpiece for its new jewelry-dedicated boutique in Paris.

The 860-square-foot fine jewelry showcase is in the heart of Paris at 20 rue de la Paix, near where the firm’s founder, René Lalique, opened his first jewelry store in 1905. He later went on to specialize in glasswork. In addition to jewelry, the company is now known for its crystal and glasswork in uses ranging from decorative and functional items to large works of art, and for its perfumes.

Lalique Soleil de Gaïa Rrng

The 430-square-foot-space displays some 200 pieces from the brand’s fine jewelry and high jewelry collections, as well as a selection of iconic pieces such as the Gourmande ring and the Mascottes cufflinks. Bridal jewelry will be shown at a dedicated space nearby.

First floor of the Lalique jewelry boutique.

If a customer wanted to see more Gourmande rings he or she would simply have to look up where a chandelier sparkles with the light of 2,500 Gourmande rings.

Lalique Soleil de Gaïa pendant

One level below, a 430-square-foot area serves as a private salon in an intimate setting reflecting the 1900 World’s Fair. Here, the brand’s crystal craftsmanship and its latest collaborative designs, featuring limited edition pieces such as the Lalique-Parmigiani Fleurier table clocks, crystal perfume bottles and the Caran d’Ache line of pens, will be on display.

VIP room of the Lalique jewelry boutique

In a tribute to René Lalique, the store, designed by the Pustetto Agency, reflects both Art Nouveau and Art Deco themes. Its Art-Nouveau inspired lines are extended to the design of the wall displays and staircase that leads to the private salon with Aster panels in Lalique crystal decorated with a plant motif in micro-relief (pictured below).

Lalique celebrated the new opening this week with the release of a new Art Deco jewelry collection, Soleil de Gaïa. The company said the opening of the new shop seals the resurrection of the brand’s two-year return to the rebirth of fine jewelry.

Jewelry display in the VIP room.

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Saint Laurent Gets a New CEO

©Hedi Slimane

Francesca Bellettini has been named the new CEO of Yves Saint Laurent. She will take over the top spot at the fashion house on September 1, replacing Paul Deneve, who has taken a position in the high tech industry.

Bellettini is currently an executive director at Bottega Veneta. Both Bottega Veneta and Yves Saint Laurent are owned by Kering, formerly known as PPR, which announced the appointment Tuesday. The French holding company specializes in owning brands in the luxury, sports and lifestyle segments of the apparel and accessories market. Yves Saint Laurent designs apparel and accessories that range from read-to-wear clothing to jewelry. While the brand is best-known to the public as Yves Saint Laurent, Kering had officially changed the brand name in 2012 to Saint Laurent.

“Her experience within the group and in the industry, her expertise and her determination persuaded me of her ability to implement Saint Laurent day-to-day strategy,” said François-Henri Pinault, chairman and CEO of Kering.

Bellettini, an Italian national, joined Bottega Veneta in November 2008 as worldwide merchandising director. She was promoted to worldwide merchandising-communications director in November 2010 and has been responsible for implementing strategic direction for the company, while overseeing all aspects of merchandising, visual display and communication.

She previously was the strategic planning director and associate worldwide merchandising director of Gucci. Prior to Gucci, she was operations manager of Helmut Lang, having previously worked at the Prada Group in 2002 as part of the planning & new business development division. After graduating from Bocconi University in Milan, Bellettini started her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell, and Compass Partners International.

In addition to the appointment of Bellettini, Yves Saint Laurent creative director, Hedi Slimane, will have added responsibilities that include supervising all strategic projects in a plan to transform and reposition the brand.

“Hedi Slimane has a clear creative vision for Saint Laurent,” Pinault said. “He has successfully rejuvenated and repositioned the brand in line with Yves Saint Laurent’s original message in 1966. This reform project was essential to ensure that Saint Laurent is in step with the times, and to secure its success. Today, the brand is one of the world’s most prominent fashion houses and my ambition is that Saint Laurent is able to realize its considerable long term potential for growth.”

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Queen Elizabeth Wears Tiara and Diamonds at French State Dinner

Queen Elizabeth II with French President Francois Hollande (left)
and her husband Prince Philip.

French President Francois Hollande honored Queen Elizabeth II with a state dinner Friday reportedly attended by seven monarchs and 10 presidents to commemorate the 70th Anniversary of D-Day. The jewelry worn by the queen at the historic event was appropriate for the grand occasion and nearly as compelling as her words in the speech she gave, which were described by London’s Daily Mail as “forceful and personal.” 

Consulting with Buckingham Palace Sunday and verifying that information with two of several blogs that follows the queen’s jewelry preferences, “From Her Majesty’s Jewel Vault,” “The Court Jeweller,” as well as The Royal Collection Trust website and Wikipedia, I was able to get a near complete picture of what she wore. 

Described by a Buckingham Palace spokeswoman as “Queen Mary’s Tiara,” I was able to learn that what she wore was “The Girls of Great Britain and Ireland Tiara,” which was a wedding present to Queen Mary in 1893 from a committee of girls representing Great Britain and Ireland. It is one of the current queen’s favorites, according to several sources. 

The queen also wore the “Coronation Necklace” and the matching “Coronation Earrings.” These are substantial diamond jewelry pieces with little adornment. A total of 26 large diamonds make up the necklace with the largest diamond suspended as a pendant. Matching diamond drop earrings make up the set. 

Thanks to From Her Majesty’s Jewel Vault,” I was able to identify the brooch on her red sash as the Queen Mother’s ruby and diamond bouquet brooch.

The queen also wore a diamond bracelet, rings and a watch, according to a Buckingham Palace spokeswoman. 

In case you're interested, below is a transcript of the speech given by the queen at the dinner:

Monsieur le President, The Duke of Edinburgh and I are delighted to be here this evening on this, our fifth State Visit to your country.

Our first visit together overseas was to France, in 1948: shortly after our wedding, and four years after D-Day.

I recall my own happiness, discovering this beautiful country for myself and for the first time, and developing my own great affection for the French people.

Wherever two or more of our countrymen gather, there one finds the unique mixture of friendship, good-humoured rivalry and admiration that is the essence of Anglo-French relations.

But tonight, stirred by the day’s commemorations, we are also filled with other emotions:

With sorrow and regret, remembering the loss of so many fine young soldiers, sailors and airmen;

With pride, at the sheer courage of the men who stormed those beaches, embodied in the veterans among us;

And with thankfulness, knowing that today our nations are free and sovereign because allied forces liberated this continent from occupation and tyranny.

Knitted together by common experiences of struggle, sacrifice and reconciliation, we remember those times in a way that strengthens unity and understanding between us.

In that spirit, I venture three observations:

The first is that the true measure of all our actions is how long the good in them lasts.

Each year has compounded in Europe the benefits of our victory in the Second World War, since it enabled our subsequent successes and our achievements. Seen in that light, those heroic deeds will stand out as much in 700 years as they do after 70.

In an age of instant news and instantaneous judgment, it reminds us that we should weigh our actions not by immediate acclaim, but by their benefit for future generations.

This leads me to my second observation, which is that everything we do, we do for the young.

Since my last State Visit I have had the joy of becoming a great-grandmother.

The hopes and innate potential of young people are the same in all nations and on all continents.

The decisions we make should always be designed to enlarge their horizons and enrich their future, from caring for our environment to preventing conflict.

Our peace and prosperity can never be taken for granted and must constantly be tended, so that never again do we have cause to build monuments to our fallen youth.

My third observation is that our two nations, Britain and France, have a particular role to play in this effort.

We are two of the trustees of international peace and security, and we are both ready and equipped to aid those threatened by poverty or conflict.

We are famously proud of that which is particular to each of our peoples, and rejoice in our cultural differences.

But there is also great inspiration to be found in what we represent together:

Two democracies who have faced grave perils and emerged stronger together.

And two of the world’s most successful economies, working together on the technologies of the future, and making a vast contribution to the development of other nations.

All this rests on the efforts of thousands of people who have made the Channel not a dividing line but a trait d’union.

It gives immense confidence in the future of relations between us.

Monsieur le President, Ladies and Gentlemen, I pay tribute to the nation of France, as Kipling wrote: 

“First to follow Truth and last to leave old Truths behind – France, beloved of every soul that loves its fellow-kind!”

And I ask you to join me in a toast to the French Republic, to the President and to the people of France.

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Paris Hilton Sued for Allegedly Keeping Stolen Damiani Jewelry

A 2008 photo of Paris Hilton between Giorgio and Silvia Damiani while wearing the Italian brand's diamond jewelry.

I almost get the feeling that Paris Hilton is jealous over the all the attention being given to Lindsay Lohan, who is being accused of stealing jewelry from a Venice, Calif., store.

According to published reports, the celebrity socialite is being sued by German insurer, Allianz SE, for not returning $60,000 worth of Damiani jewelry. It was among a reported $2.7 million worth of jewelry stolen from her Los Angeles house on December 19, 2008. Hilton borrowed the jewelry from the Italian brand’s Manhattan store in 2007. (Reports indicate that it came from “Manhattan Jeweler Damiani,” which makes it appear that it was borrowed from a local jewelry store in Manhattan that happened to be named Damiani.)

Allianz is reportedly claiming that the Los Angeles police found and returned the jewelry to Hilton after it had already paid Damiani’s claim under an insurance policy.

The company reportedly said that Hilton has not responded to repeated attempts to contact her by email and phone to return the jewelry.

A Hilton spokeswoman reportedly said that the only jewelry that was returned was costume jewelry.

Damiani refused to comment.

The Paris Haute Jewelry Scene Sparkles

Antique Amethyst and gold set created by Mellerio dits Meller

The rain fell as I was retrieving my Rail Europe ticket at the Gare de Lyon rail station. The spring rain in Paris is often romanticized in books and movies. But this was just a cold, hard drizzle, marking a sad goodbye to an exceptional four days in the “City of Light.”

In a brief period of time I was able to visit the oldest family-owned jewelry firm in the world, meet with one of the top independent jewelry designers in the city and an up-and-coming independent designer who is making a mark creating haute couture jewelry with an edge. 

Inside Mellerio dits Meller

My last meeting was the most anticipated and the most memorable. As I have written in the past, Mellerio dits Meller is the oldestfamily-owned jewelry business. It is a claim rather than a fact in that there may be others out there that are older. However, no one else has stepped forward. What is fact is its history from the beginning is fully documented, with almost all the records in the store. This is indisputable. In fact, the business may have been in operation up to 100 years before its first 1613 documentation.

I spent an entire afternoon there with Larent Baty, Diane-Sophie Lanselle and Emilie Merillio, board president and the 15th generation family member working at the company. 

Part of the archives at Mellerio dits Meller

Being old is only part of the story with this firm located at 9 Rue de la Paix, a stone’s throw from Place Vandome. As the jeweler to royalty in France and most of Europe, it was front and center as a continent controlled by monarchies gradually changed to democratic rule. Its meticulous archives located two floors below the oak-paneled sales floor chronicles this history in sales receipts written in worn large-bound books. One inscription reads of a sale to a member of the French monarchy on July 14, 1789. This is Bastille Day. “She was certainly optimistic,” Lanselle said. 

Historic drawings

One floor above contains what is basically an historic exhibition of its jewels through the past 200 years or so loaned to them from the established families who still do business with Mellerio. A necklace, earrings and tiara made of large round amethyst gems set in and crowned by yellow gold filigree. A white ribbon made of gold-plated silver and diamond pave. An unusual piece is gold jewelry designed to be placed over fingernails.  

The jeweler still caters to royalty but this time it is the family rulers from the Middle East who walk through the doors. It also serves a new royalty, the business elite. Some of the names include … well, Emilie Mellerio would not say. “We are discreet.” 

A lace pearl and emerald necklace part of the Mellerio dits Meller anniversary collection.

It is an exclusive shop but you don’t need an appointment to enter. Just like the Cartier store practically next door you can come in from the street. It also provides something that other corporate-owned jewelers and watchmakers cannot: value. Baty, the general manager, explains it’s because nearly all of the jewels are made in a workshop above the store. So custom-made or limited-edition pieces are made on premise and without the added cost of supporting the marketing, advertising and in many cases the corporate structure of a conglomerate-owned business.

While it is an exclusive company there’s also a recognition that this is a small family owned, entrepreneurial business. There’s no pretense among the managers. Emilie, who previously worked for LVMH, explained that everyone, including herself, do a number of jobs to keep the business humming.

I previously wrote about the 400th-anniversary collection the company released last spring. I received a first-hand look at the pieces. They were created by Parisian jewelry designer Edéenne. In a stroke of luck I met the designer with her agent, Erwann Bigot, whom I contacted as a way of getting an introduction to the Parisian high jewelry world. 

A magic carpet by Edéenne

Edéenne is more than a jeweler. She is a storyteller who specializes in making custom jewelry pieces for clients based on their own personal histories, aspirations and even fantasies. She will interview a client for two hours before deciding on the piece she will create. She also creates pieces based on movies and books; and occasionally special creations. 

A lantern with three diamonds inside instead of wishes by Edéenne.

The thing about Edéenne that makes her stand out to me is that I can’t discern a particular style in her pieces. She showed me pieces that were wildly different from one another. Whether it’s a white gold ring containing a carved flower inside as if it is in a bubble or a large flower-shaped emerald inside a flower-shaped ring. 

A flower inside of a sapphire crystal bubble by Edéenne.

 

One hallmark about her pieces is that they are often “engineered” to perform multiple tasks. For example, a magic carpet ring made of white gold and emeralds is paired with petite lantern pendant necklace. When “rubbed” or opened at the top it reveals, instead of three wishes, three round faceted diamonds.

Long white gold and diamond ring by Pamela Hastry.

 

Finally, there’s Pamela Hastry and her brand Morphée Joaillerie, whose office/showroom I visited. She opened her business in September and quickly made inroads in the UK and Europe. She’s well-versed in social media so she is known in the US as well. She describes her pieces as haute jewelry with a street edge. 

A sapphire pave bird perches on a by white goby ld twig Pamela Hastry.

The Belgium native who speaks impeccable French and English makes limited edition collections that have the traditional delicacy of fine French jewelry but with a slant that would be appealing for a more fashion-or-trend conscience consumer with taste. Her earrings are made to be worn on the side and above the ears. Her long, open-worked rings, whether for one or two fingers, run above and turn slightly along the side of the finger.

This is just an overview of what I saw during my short stay in Paris. Each person and business will receive special treatment in the future. For now it’s time for Baselworld.

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PPR To Become Kering

François-Henri Pinault, PPR chairman and CEO, poses with the company's new name and logo, which is expected to become official on June 18.

French holding group, PPR, said Friday that it will change its name and brand messaging to reflect its new identity as an international luxury, sports and lifestyle organization.

On June 18, subject to board approval, the new name for the company will be Kering (pronounced Caring). The Paris-based company said the new name reflects its culture of “taking care of our brands, people, stakeholders and the environment.” The suffix “ing” expresses the idea of movement, reflecting the diverse history of the 50-year-old company, which began as a trader of timber and construction materials. The stem “ker,” meaning home in Breton, refers to its origins in the Brittany region of France.

Since 2005, PPR has been undergoing a transformation from a conglomerate focused on primarily European distribution activities, to an international group focused on the apparel and accessories business across two fast growing segments that it defines as “Luxury” and “Sport & Lifestyle.” In a few months, the new group expects to leave the distribution sector completely, after disposing of Fnac and the remainder of online fashion retailer Redcats.

The company’s collection of brands include Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Boucheron, Girard-Perregaux, Qeelin, Puma, Volcom, Cobra, Electric and Tretorn.

Laurent Claquin, head of PPR Americas, said the change in the company’s identity is a natural step in the group’s transformation.

“We are marking a transition from a conglomerate to an integrated group,” he said. “We are in the business of fashion. We are also part of the same group (as) a way to signify how we do our business with our brands and customers.”

Claquin refused to comment on published reports that the company is in the final stages of acquiring luxury Italian jewelry brand, Pomellato. “It is not the subject of the day,” he said.

Accompanying the new name are new symbols for the company and an international branding strategy over multiple platforms that it emphasis the creativity of its brands. A new video, website and advertising campaign and supporting items are among the ways the company intends to promote its new image. Digital media will be a centerpiece of the campaign. Follow this link to view the company's new video.

As part of the strategy, the company adopted a new symbol, the “untamed” owl, and even a company signature that reads: “empowering imagination.”

The owl is drawn from a single line, like a quick sketch, a doodle even, with outstretched wings and its face framed in a heart. This simple drawing expresses far reaching values, according to the company, from foresight, wisdom and intelligence to caring and respect.

Claquin emphasized that the new campaign is geared toward the B-2-B community and not the general public. “We don’t communicate through a general public,” he said. “We don’t want to be stronger than our brands but we do communicate to our target populations.”

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Tiffany's Paris Flagship Property For Sale

The property that houses Tiffany & Co.’s flagship Paris boutique has been placed on the market for more than 30 million euros ($40 million). However, the luxury retail jeweler will not be leaving the space.

Commercial real estate services firm, CBRE, said in a statement that it has been instructed to sell what it calls “a trophy retail asset” located at the entrance to Place Vendome at 6 rue de la Paix. The 8,230-square-foot space is being sold in behalf of a private owner. It contains two retail jewelers, the second store being Kornmesser, a private Austrian luxury jewelry and porcelain retailer.

Both tenants recently committed to new long term leases, CBRE said.

Rue de la Paix is one of the most prestigious addresses in the French capital. Known as the centre of luxury retail in the city, jewelry brands in the area include Bulgari, Van Cleef, Hermes and Cartier. Luxury brands moving into the area include Louis Vuitton, which plans to open its flagship Parisian store on Place Vendôme, and luxury Swiss watch brand, Breguet, which will be opening its world’s largest store.

"Prime retail properties of this quality and with this strength of tenant are rare,” said Larry Young, International Investment, CBRE Capital Markets Paris.

Initial offers are being sought in late March, he said.

Vacheron Constantin's New Paris Boutique

Vacheron Constantin has brought its luxury Swiss timepieces to a storefront in Paris. It is the company’s 35th boutique around the world and its first in the “City of Light.”

The interior of the 915-square-foot space at 2 Rue de La Paix uses neutral light colors contrasted with dark materials—such as woods, bronze, wrought iron and leather—to create a discreet, luxurious atmosphere. The brand brought in French master artisans to create statement details.

Mathieu Lustrerie, a specialist in light restoration for historical monuments, created a “Saturn” chandelier made of rock crystal, while mosaic artist Pierre Mesguich bejeweled it by hand with 35,000 tiny marble cubes (pictured above). The boutique’s artistic wrought iron decorative elements were tailor-made by Les Métalliers Champenois, whose other works include the restoration of the Statue of Liberty.

The boutique will contain a full line of Vacheron Constantin timepieces as well as a vintage collection named Vacheron Constantin les Collectioneurs,” which are accompanied by a certificate of authenticity.

The collection includes a boutique-exclusive of its 1972 Prestige timepiece, known for its ultra-thin, asymmetrical shape, its 1003 movement and the Prestige de la France coat of arms engraving on its back. The dial of the 18k gold watch shines like silver. It is available at the boutique in a limited-edition of 40 units.

To mark the opening of the Parisian boutique, the Geneva manufacturer commissioned photographer Thierry des Ouches to illustrate his vision of Vacheron Constantin in Paris through his lens. Five owners of Vacheron Constantin timepieces tell the tale of their watches, their Paris, their love of the exceptional and the values they share with Vacheron Constantin on www.2ruedelapaix.fr.

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Luxury Brands Lift PPR’s Sales and Profit for 2012

PPR, the Parisian holdings company, said net profit in 2012 increased by 28.2 percent to €1.27 billion ($1.7 billion). Revenue increased 20.8 percent to €9.73 billion ($13 billion).

The company, which has divided its high-end businesses into the categories of luxury and sport and lifestyle, said its luxury goods division reported a 27.6 percent increase in operating profit to €1.61 billion ($2.14 billion). This more than offset a 12.1 percent decline in operating profit in its sports and lifestyle division.

The company’s brands include Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Qeelin and Puma. 

Read PPR Shopping for Jewelry and Watch Brands

“PPR's results for 2012 are excellent, thanks to the exceptional performances of all brands in our luxury division,” said François-Henri Pinault, PPR chairman and CEO. “Our strong performance also highlights the good geographic balance of our activities and the consistency of the Group's strategy.”

The company, which operates in more than 120 countries, said revenue generated outside the Eurozone rose 11.6 percent in 2012 based on comparable data and accounted for 78.6 percent of sales for the year, versus 77.9 percent in 2011. Sales contribution from France remained unchanged from 2011, representing 5.5 percent of total revenue on a comparable basis.

In 2012, PPR said it continued its expansion in rapid-growth markets where revenue advanced 13.7 percent on a comparable basis and accounted for 37.6 percent of sales, representing a 100 basis-point increase on 2011 on a comparable basis. Sales in the Asia-Pacific region (excluding Japan) accounted for 25 percent of the total sales of the Group's brands versus 24.5 percent in 2011 on a comparable basis.

The company also is in the process of strengthening its position in the luxury and sports and lifestyle categories while divesting its holdings in other areas. For example, in December 2012, it acquired of a majority stake in Chinese luxury jewelry brand, Qeelin, and last month announced it acquired a majority stake in the luxury designer brand, Christopher Kane. It is also announced in January that it has found a buyer for Redcats children and family divisions.

The company added that it’s in the process of speeding up and expanding the scope of its transformation of Puma “in order to increase efficiencies in terms of organization, processes and systems and to streamline its cost structure, notably in Europe.” In October, Jean-François Palus was appointed chairman of the Administrative Board of Puma SE, replacing Jochen Zeitz.


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