Pomellato is trying its hand at silver — and the company will toast its premiere silver collection, Pomellato 67, on Thursday with an event during Milan Fashion Week.
“This is more than [just] expanding the brand. In this case, we see it as a new collection and, potentially, a new brand,” said Andrea Morante, chief executive officer of Pomellato Group, the fifth-largest jewelry brand in Europe, in terms of sales, after Cartier, Chopard, Bulgari and Tiffany & Co.
The 47-piece silver line is available exclusively at 21 Saks Fifth Avenue doors and its Web site, as well as Pomellato’s four U.S. boutiques — in Miami, Chicago, Beverly Hills and New York. During the holiday season, the collection will launch throughout Europe in 22 of Pomellato’s freestanding doors and more than 150 wholesale accounts, and this number will increase to 30 branded shops and 175 retail partners in 2013.
All jewelry in the new silver range, named after the year the company was founded, is produced in the same Milan factory as the main gold line. Many of the necklaces, pendants, earrings and chain-link bracelets, conceptualized by Pomellato creative director Sergio Silvestris, contain marcasite detailing and are based on iconic pieces dating back to the Sixties. Marcasite-encrusted silver hoop earrings, of varying sizes, range from $510 to $800, and an oversize chain-link bracelet with marcasite links interspersed at random retails for $2,465.
This is the first time the 45-year-old company — historically known for its gold jewelry — has worked with silver. Morante is optimistic the market will embrace the $200 to $4,000 collection, and he points to higher gold prices as helping to accelerate the decision to introduce the line. He projects that by the end of next year, sales from the Pomellato 67 offerings will comprise 10 percent of the company’s sales, which represents two-thirds of the Pomellato Group’s overall business. The remaining third comes from its 20-year-old junior brand, Dodo. With that breakdown, Pomellato 67 will hopefully reach sales of $13 million to $15 million for 2013, depending on the current exchange rate.
Morante estimates 2012 sales for the group — including the three brands under its umbrella — will reach $192 million, about a 10 percent increase from last year. He expects a similar jump from 2012 to 2013 and anticipates sales will surpass the $210 million mark, thanks to the opening of at least 10 boutiques in the coming year, in places such as Singapore (the second in the city), Hong Kong, Dubai and Santa Fe. In the last three years alone, Pomellato’s retail presence has almost doubled. Morante said the company will go from having 42 directly operated shops in 2009 to 87 by December. Forty of those doors are Dodo, and 47 are Pomellato, and there are an additional 500 points of distribution globally.
The Pomellato Group’s largest market is Italy — currently 43 percent of the overall business — followed by the rest of Europe and the United States at 38 and 12 percent, respectively. The best-performing store on a global basis is in Paris, while the fastest-growing markets are the U.S., Germany and France. The company also is seeing good growth in Russia and Singapore (where the brand will open its second store in November).
The Far East is responsible for just 5 percent of the business, and Morante admits that the company has not expanded sufficiently in the region and is “not that present in China.”
“The idea is to take advantage of the fact that the Chinese consumers are starting to appreciate the concept of style — as opposed to status — in a brand. The market [is still] at a stage where perhaps status is the most relevant element of reference when it comes to consumer preferences, so I guess we thought that it was a bit early for us to try and enter the market immediately — especially in jewelry, where traditions are very strong,” Morante said.
The end goal is to become a global brand, which for Morante means a balanced presence in the U.S., Europe and Asia. The Pomellato Group is concentrated in Europe, which represents 75 percent of the business, with just 15 percent in the U.S. and Canada.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)