NEW YORK — The lure of fine jewelry has pulled in another fashion designer: Vera Wang.
This story first appeared in the February 24, 2003 issue of WWD. Subscribe Today.
Wang has signed a license with diamond specialist Rosy Blue for a line of diamonds and fine jewelry, with products most likely hitting stores for fall, sources said. Wang could not be reached for comment and Chet Hazzard, president and chief operating officer of Vera Wang, declined to give specifics, but said, “Rosy Blue is the perfect partner with which to build the true luxury positioning of Vera Wang.”
Rosy Blue is a De Beers siteholder that wholesales diamonds to the trade and also makes jewelry for chain and independent jewelry stores. It has offices around the world, including one on Fifth Avenue here.
Jewelry is a logical move for the Wang firm, which has a budding empire that includes fragrance, eyewear and china, as well as a signature upscale bridal dress and ready-to-wear line. The designer has spoken often of her interest in building an accessories business, and jewelry is an ideal compliment to her wedding-related offerings.
Wang’s 13-year-old firm has estimated sales of about $80 million at retail. Her entrance into the category comes at a time when a variety of designer firms are building up their jewelry business, including Christian Dior, Escada, Chanel and Giorgio Armani.