By  on July 6, 2011

PARIS — Salvatore Ferragamo plans to unveil its first collection of jewelry, created in partnership with Gianni Bulgari, during Milan Fashion Week in September, and deliver the first styles to about 20 Ferragamo boutiques in October.

Ferragamo chairman Ferruccio Ferragamo and chief executive officer Michele Norsa hosted a luncheon at the gilded Italian embassy here Tuesday to unveil the project, a rare category expansion for the Florentine house, which just went public in Milan.

“It’s one of the few diversifications I see that is coherent with the brand,” Norsa told WWD. “It has a great potential in Asia and China.”

Norsa said the jewelry would likely be priced in the $500 to $10,000 range, and presented in a devoted space in boutiques with a special atmosphere. Stores in Europe, America, Japan and Asia-Pacific are slated to receive it.

At present, there are no plans to wholesale the category, Norsa noted.

The two executives praised the creative prowess of Bulgari, a member of the famous family of Roman jewelers who founded his own jewelry company, Enigma, in 1989 after spearheading Bulgari’s international expansion — and foray into watchmaking — in the Seventies and early Eighties.

Dressed in khakis and a navy blazer, Bulgari said the first Ferragamo collection would likely have about 100 references, and utilize gold, semi-precious stones and diamonds.

However, he said he’s particularly energized to work with silver, “which lends itself to enormous creativity.”

“The challenge is to make things that are accessible in terms of price, but not necessarily in terms of taste,” he said. “It’s a sort of an inverse snobbery.”

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