Here’s a statement not often heard in the luxury business: The recession was good to us. But talk to Roberto Faraone Mennella and Amedeo Scognamiglio of the jewelry firm Faraone Mennella, and that’s exactly what they’ll tell you.
“The past two years have been such a revolutionary time in the market,” says Scognamiglio. “For us, it’s been an opportunity to grow and focus on what we really want to do. It gave us a really strong direction and triggered our strategy to expand overseas.” And the facts speak for themselves. Since 2008, sales have increased 40 percent, the two have launched the secondary line L’una by R.F.M.A.S., expanded into Dubai and Abu Dhabi and, on Nov. 1, will open their very first flagship in a surprising locale for a brand born in New York and known for its very Italian roots: London.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"