MILAN — Men with a soft spot for roaring engines can now extend that passion into jewelry.
This story first appeared in the October 20, 2009 issue of WWD. Subscribe Today.
Ferrari, Maserati and Ducati have teamed up with Damiani to launch three collections that include jewelry, small gift items, desk pieces and gadgets. All three licensing agreements are valid through 2012.
The deals are further evidence of how Damiani is looking to strengthen its position in the fine jewelry sector by broadening its licensing portfolio, which currently counts Jil Sander, Gianfranco Ferrè and Martin Margiela.
“Many of the specialty stores we deal with told us that women complain they can’t find jewelry gifts for men so we believe we can develop this area,” Guido Damiani, chairman and chief executive officer of Damiani, said of the licenses with the three famed Italian motoring brands. “Also, these projects are a low-cost way for us to exploit our synergies and vertical and multitiered structure.”
Ninety-five percent of Damiani’s 2008 revenues of 150 million euros, or $221 million, hail from women’s products.
It’s coincidence the three deals were completed at the same time, Damiani said, and the new collections will all be unveiled at the end of March.
The collections will have different product assortments and pricing, he said.
The selection at Ferrari, for example, ranges from silver and gold cufflinks to money clips to gold bracelets adorned with charms in the shape of steering wheels, turbines and tires. On a more expensive side is a diamond pendant shaped like the automaker’s iconic prancing horse logo.
Gift items, namely paper cutters, desk sets and paperweights, in silver and leather, are also part of the offering. “Ferrari is the most exclusive Italian brand, it’s aspirational and will also attract women,” said Damiani.
Average retail prices go from 200 euros, or $295, to 500 euros, or $737, and climb to 2,000 euros, or $2,949, for diamond-sprinkled pieces.
A similar lineup will characterize Maserati’s line, highlighted by steel cufflinks with a single, tiny diamond priced at 150 euros, or $221, at retail.
The Ducati collection targets a younger customer of bikers and fans with gold, silver or steel bracelets, key chains and gadgets that pertain to the world of motorcycles.
Between the Damiani-owned multibrand Rocca stores, the Ferrari stores and specialty stores, Damiani expects to secure 2,000 doors in the first year for the Ferrari collection. A similar number is budgeted for both Maserati and Ducati.
Damiani declined to disclose a first-year sales projection but said the projects should rake in “tens of millions of euros.” He added that today’s volatile economic climate makes it difficult to predict how a project will evolve.
In other Damiani news, the company will open stores in Beirut and Singapore by year-end and Damiani said he is talking to several designers about future ventures, but declined to reveal details.