MACY’S IS TAKING ITS EXCLUSIVE approach to the already specialized category of jewelry.
The retailer, with an exclusive brand roster that includes Tommy Hilfiger, Martha Stewart and Donald Trump, has tapped the founders and designers of fine jewelry firm Faraone Mennella to create an exclusive line called L’una.
Starting next month, the sterling silver jewelry brand will be distributed in 66 Macy’s doors and there will be three in-store boutiques within Macy’s flagships in New York, San Francisco and Chicago. The line eventually could roll out to more doors, and also will be available on macys.com.
L’una, which means “the one” in Italian, is expected to drive $50 million in sales within two years, according to Amedeo Scognamiglio, co-founder and co-designer of L’una.
“It’s a perfect bridge between fashion and fine jewelry for Macy’s,” said Terry Lundgren, president and chief executive officer of Macy’s Inc. “It’s a void in the [current] assortment. It’s simple, clean jewelry, with price points that are extraordinarily competitive for the Macy’s core customer. It’s a great example of us working collaboratively with the design team to offer an exclusive.”
Faraone Mennella is owned by R.F.M.A.S., a six-year-old firm that also operates the Amedeo and Renaissance jewelry brands. The company was founded by the Italian-born Scognamiglio and Roberto Faraone Mennella.
The inaugural L’una collection will feature more than 160 styles of silver jewelry ranging from delicate earrings to bolder necklaces. Retail prices for the collection, which is produced in the same Arezzo, Italy, factory as the Faraone Mennella brand, will start at $35 and climb to $895. Four collections are slated to bow each year.
“Faraone Mennella is going in a direction of more luxury,” said Scognamiglio, who noted the average price for the fine jewelry line is $7,500. “Working in silver, you have less constraints of price points and even the stones that we use. With L’una, we’ve been having more fun with shapes and variations.”
The designer fine jewelry business has been a sensitive market of late. With the lackluster economy in the U.S., consumers have become polar in their fine jewelry interests. They are gravitating toward either the upper strata of the jewelry spectrum, as in large diamonds and rarefied pieces, or toward more commodity-driven items, such as a line bracelet. As such, many jewelers are diversifying by launching silver lines at considerably lower price points that yield higher margins than 18-karat gold collections, or they launched lines with TV shopping channels QVC and HSN.
For Renaissance, the accessibly priced cameo jewelry brand, Scognamiglio appears on HSN, while the high-end cameo jewelry firm Amedeo has one upscale boutique on Lexington Avenue in Manhattan and there are plans to open additional outposts. Faraone Mennella is sold through retailers such as Bergdorf Goodman, Neiman Marcus and Saks Fifth Avenue.
“With Faraone Mennella, every piece is an heirloom. With L’una, we have to be much more concerned with the trends,” Scognamiglio added. “It’s much more young and fresh in terms of approach.”
Macy’s plans a slew of marketing to promote the brand, including print advertising in newspapers such as The New York Times and the Chicago Sun Times, and a direct mailer to consumers illustrating the line.
Lundgren admitted the jewelry business is different from other fashion categories, but that the retailer has geared up to present it well to the customer.
“The name will cause our customers to be curious and stop to take a look at the product,” said Lundgren. “After that, it’s all about the way it feels and looks. It’s not like a handbag where you have a name on the strap. It’s ultimately about the product.”
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews