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Brand And Industry News: John Hardy And Ulysse Nardin Sold; AGS Honors Berg, Schechter, Hucker; More August 02, 2014 (0 comments)
John Hardy Brand Sold To Private Equity Firm
Hong Kong—Designer jewelry brand John Hardy has been bought by private equity firm Catterton.
Canadian-born John Hardy founded his eponymous brand in 1975 in Bali, bringing the natives’ style of woven silver working to the high-end jewelry market (left). He sold the firm in 2007 to Guy Bedarida, creative director, and Damien Dernoncourt, the current CEO, who will remain as non-executive chairman and retain an equity stake in the firm after the sale. Bedarida, who also has designed for luxury jewelry houses Van Cleef & Arpels and Boucheron prior to John Hardy, will remain as creative director. Robert Hanson, who was ousted from teen retailer American Eagle Outfitters in a political spat earlier this year, has been named CEO.
Under Bedarida’s direction, the firm expanded its signature look to include more gold, diamond, and gemstones in design, with a focus on sustainable materials and recycled metals.
Rumors of a potential sale have been swirling since late last year, according to this report in National Jeweler. Catterton was one of the names rumored to be interested. The New York-based equity firm has made other acquisitions in the luxury market recently, including French crystal maker Baccarat and luxury hair care brand Frederic Fekkai.
According to Women’s Wear Daily, Hanson plans to enhance product development and launch and build brand identity through aggressive marketing. The brand recently named English model and “It Girl” Cara Delevingne as its new face.
Read more here and here. Top image: Women’s Wear Daily
AGS Recognizes Industry Leaders at Circle of Distinction Dinner
New York, NY—The American Gem Society last week recognized three well-known leaders in the jewelry industry at its annual Circle of Distinction dinner, held July 29 at the historic Plaza Hotel.
Lee Berg, CEO of Lee Michaels Fine Jewelry, received the Society’s Lifetime Achievement Award. The honor is given to individuals who have made significant contributions to the industry throughout their career.
Doug Hucker, CEO of the American Gem Trade Association (AGTA), and Joel Schechter, CEO of Honora (a division of Richline Group), both received the Triple Zero Award, presented to members of the industry for their accomplishments and contributions.
Ruth Batson, CEO of the American Gem Society and AGS Laboratories, said, “The work and efforts of the three honorees has left an indelible mark that will endure for years to come.”
Kering Conglomerate Snaps Up Ulysse Nardin
Le Locle, Switzerland—Luxury watch brand Ulysse Nardin has been acquired by luxury conglomerate Kering (formerly PPR). The two signed an agreement last week for Kering to acquire 100% of the capital of Ulysse Nardin, subject to regulatory approval. The brand will join Kering’s ‘Luxury – Watches and Jewellery’ division, headed by Albert Bensoussan, The Ulysse Nardin management team will remain in place.
Founded by Ulysse Nardin in 1846, the brand has its roots in the nautical world. The watchmaking house was taken over and re-launched in 1983 by Rolf W. Schnyder, who transformed it into a highly profitable business in a healthy financial position. The company benefits from a very strong brand identity based on its historical expertise in marine chronometers and ultra-complication watches.
Ulysse Nardin has long been one of the most innovative independent watchmakers. The brand was a pioneer in the use of cutting edge technologies and state-of-the-art materials like silicium, which today ensures that it has the in-house expertise to produce its own components. Its range of watches positioned in growing price segments, and its efficient distribution network are also major assets.
This acquisition allows Kering to strengthen its ‘Luxury – Watches and Jewellery’ division with a clearly positioned business that complements its other brands. In addition to the opportunity for Ulysse Nardin to expand geographically—especially in the Asia-Pacific region—it enables other Kering brands to tap into Ulysse Nardin’s technical and industrial expertise and distribution network.
Chanel “Café Society” Collection Taps Into Lifestyle Marketing
Paris, France—Luxury fashion house Chanel is positioning its high jewelry as an everyday item, albeit a costly one.
According to an article in Luxury Daily, the brand launched its new “Café Society” collection via e-newsletter and social media on July 21. The collection, which evokes the 1920s’ café society of elite socialites who frequented fashionable nightclubs and cafés, is shown on models in a variety of situations throughout a typical day in the life of one of those women.
The first hour is midnight, where a model in a feathered dress admires her dress and jewels—black onyx and diamond—in a mirror. The second vignette is 5:55 a.m., where a socialite creeps home in her cocktail dress, shoes in hand, after clearly having been out all night. Her jewels include earrings and necklace of white and pink gold, padparadscha and pink sapphires, and diamonds.
At noon, she appears hatted and wearing a graphic bracelet and ring reminiscent of New York skyscrapers. At 6:00 p.m. she’s decked in diamonds, and at 9:55 p.m., she’s wearing a diamond headband and bracelet, and pink and padparadscha sapphires again.