Two major fashion names—Louis Vuitton and Versace—plan to open several jewelry-only stores, according to reports.
On July 2, Louis Vuitton opened its first jewelry-only store on Place Vendome in Paris, designed by architect Peter Marino. And that may be just the beginning.
“We are considering opening new stores for jewelry and watchmaking in major international capitals,” a Louis Vuitton spokeswoman told Reuters.
In addition, Versace is also planning standalone jewelry stores, according to the company’s CEO, quoted in the Financial Times.
A Versace spokeswoman did not return a query from JCK.
The company also released a new Atelier Vercase Jewelry line at the Paris Fashion Week on July 1. Pics can be seen on the company’s Facebook page.
The Times quotes financial experts as predicting that “branded jewelry” could double its share of the market in the near future.
It notes that branded items currently represent only 19 percent of the global fine jewelry market—while branded leather goods and eyewear account for 50 and 38 percent of those markets, respectively.