Despite stellar global luxury sales, luxury companies remain keen on boosting sales opportunities. To offset weaknesses in Europe or the US, luxury retailers are eager to meet the demand of the fast-growing Asia market.
Italian luxury goods maker Salvatore Ferragamo launched its first jewelery collection this week, hoping to capture more Asian sales. Luxury companies that have strong exposure to Asia can expect positive trends in the next year according to Ferragamo’s Chief Executive Michele Norsa.
For Ferragamo, this foray into jewelry is aimed at wealthy customers who see security in gold, precious metals and jewels, especially the Chinese. Gold prices have soared to a record high this year, gaining about 30 percent.
“I think this (collection) will be successful, especially among Chinese clients”, Norsa told Reuters. Norsa believes that watches and gems make a safer long-term investment than clothes and some other fashionable accessories because their value does not diminish with time.
The collection was created in collaboration with Gianni Bulgari — a scion of the Bulgari jewelry dynasty in Italy — with prices ranging from 300 euros ($410.728) to 15,000 euros. The collection will go on sale in October at 18 selected stores in Asia, the United States and Europe.
Ferragamo leather shoes and clothes are favored by celebrities such as Angelina Jolie and Lady Gaga.
photo credit: ferragamo