LIVE FAST: Lola and Grace, Swarovski Group’s fledgling younger brand, has failed to blossom. An external representative for the firm confirmed Monday that the Austrian crystal giant plans to close the fashion jewelry brand. A Swarovski spokesperson could not be reached for comment.

Launched in 2012, the Lola and Grace brand targeted an audience in the 16- to 35-year-old age range and offered affordable product mixing Swarovski crystals and pearls with other materials. The brand was run by an independent team and counted around 35 points of sale internationally, according to its web site, including a handful of stand-alone units.

At the other end of the scale, Swarovski at an event held during the just-wrapped Cannes Film Festival in Cannes presented the official launch of Atelier Swarovski’s sustainable, red carpet-inspired fine jewelry collection, billed as “conscious luxury” or “responsible jewelry.”

The firm had already premiered a selection of the creations, which combine Swarovski-created diamonds and crystals, on the Oscars 2017 red carpet in February. A Swarovski-created emerald set was added for Cannes. Commercial iterations of the line, which is handcrafted in Paris, are due to go on sale in 2018.

As reported, also on display were the latest creations from the brand’s classic Atelier Swarovski line to mark its 10th anniversary, including the relaunched Bolster collection by Christopher Kane — who was the first designer to have collaborated with the brand — and the fall Iris Apfel, Paul Andrew and Jason Wu hook-ups, as well as the spring 2018 collaboration with hairdresser-to-the-stars John Nollet.

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