NEW YORK — Her fragrances have been bestsellers since they came to market in the Eighties, and now Elizabeth Taylor is diving into the subject she knows best: jewelry.

Taylor will produce a fine-jewelry collection through a partnership with Mirabelle Luxury Concepts in Los Angeles. Under the agreement, Mirabelle and its subsidiary, Techline Jewelry Corp., will become a new entity, House of Taylor Jewelry.

“I’ve always admired Elizabeth Taylor,” said Monty Abramov, vice president and design director. “She’s been a muse since the time I began designing jewelry.”

The company will unveil the line, which will include traditional and one-of-a-kind pieces, at the JCK show in Las Vegas in early June. In addition to her role as founder of the company, the legendary actress will oversee all design direction.

Taylor insists the collection will range from “understated to unforgettable,” Abramov said. “There will be a couture collection that is evocative of what people expect from her,” he added.

Couture prices will begin at about $250,000 retail. The more traditional pieces will be available from $3,000 retail.

Distribution is targeted toward high-end jewelers, such as Geary’s Beverly Hills; Bailey, Banks & Biddle, and Tiny Jewel Box in Washington, D.C.

The company is also in negotiations to create sterling silver, semiprecious and bridal collections under the brand.

“Dame Elizabeth has told us she wants an opening-to-midtier business to be established under House of Taylor Jewelry,” Abramov said.

The 72-year-old actress is said to have a keen eye for gems and has impressed industry insiders with her expansive knowledge of stones. After all, her love of jewelry is legendary, ranging from diamonds, emeralds and rubies to the 69-carat Taylor-Burton diamond given to her by her late husband Sir Richard Burton in 1969. The actress immortalized her entire legendary collection in her 2003 book “My Love Affair With Jewelry.”

Taylor’s passion for jewelry comes through even in her fragrances. When she launched her first scent in the Eighties, she called it White Diamonds. Sparkling White Diamonds came later, along with Gardenia by Elizabeth Taylor, Forever Elizabeth and Passion. Taylor’s fragrances are produced by Elizabeth Arden.

This story first appeared in the February 17, 2005 issue of WWD. Subscribe Today.

In May, the firm expanded Taylor’s fragrance concept into color cosmetics. The collection will address the high-end of the mass market, and sources estimate it to reach between $3 million to $5 million in sales by the end of its first year.

Last year, Taylor suffered from congestive heart failure and has said she is in constant pain due to scoliosis. She also survived a brain tumor in 1997. But Abramov said she has shown no signs of not being up to the job.

“There are health concerns,” he said, “but they’ve not been apparent in the course of our meetings. She’s very vibrant.”

House of Taylor will also produce Techline’s existing brands, including Mirabelle, Techline and Player’s Club.

Abramov declined to disclose sales projections for the company.