De Grisogono has set up shop in Japan in a bid to grow its business across the globe. The $300 million Swiss jewelry firm on Thursday celebrated the opening of its 14th boutique worldwide in the Peninsula Tokyo hotel.
De Grisogono has set up shop in Japan in a bid to grow its business across the globe.
The $300 million Swiss jewelry firm on Thursday celebrated the opening of its 14th boutique worldwide in the Peninsula Tokyo hotel. The event was attended by 150 guests, including the French actress Clotilde Courau. The store had a soft opening last month.
"I was so scared about Japan," said Fawaz Gruosi, founder of de Grisogono, which also has boutiques in London; Gstaad, Switzerland; Hong Kong; Kuwait, and Saint Moritz. "I left this market for last."
The 1,453-square-foot Tokyo store is similar to the firm's other luxurious stores, replete with grand, leather-covered chairs for customers.
Despite consumer demands for smaller, more delicate jewelry in Japan, customers there already have been requesting bigger, bolder pieces.
"It's an amazing market," added Gruosi, who recently bought back Chopard's investment in de Grisogono.
Chopard invested in the firm less than a decade ago. He is married to Chopard co-president Caroline Gruosi-Scheufele.
De Grisogono jewelry is known for its profuse use of black diamonds, its incorporation of shagreen into jewelry and watches and its use of rare and special gemstones, such as the Virgin Scarlet, a 45.39-carat Burmese ruby Gruosi unveiled this year. Merchandise in the store sells for $5,000 to more than $100,000. Gruosi said he plans to break even within a year of the store's opening.
The next stop for the company is India, where the firm is deepening its wholesale distribution into a few more doors. There are plans to open a store in Shanghai in 2009. The line is also sold in 140 wholesale doors worldwide.