Can’t afford the diamonds? Cartier and Bulgari have handbags now

Can’t afford the diamonds? Cartier and Bulgari have handbags now

Presently, Tiffany & Co has really few leather-based items available on its internet site. Following its blockbuster acquisition by LVMH, the American jewellery house may see an chance to make additional sound in this segment. Chopard has a few solutions also referencing its jewellery ranges like the Satisfied Hearts mini chain bag in calfskin leather-based at £960, and an Ice Dice shoulder bag for £1,910 in quilted calfskin. Van Cleef & Arpels, a Richemont-owned jewellery brand name, has created its legendary metal minaudière — a little attractive situation — patented in 1933, and designed on incredibly uncommon instances, leather bags that are now aspect of its patrimonial selection these days, but by no means even more developed the organization.

Aside from recruiting new, young shoppers, handbags also animate retailers, inject novelty and create some seasonality. They also foster “verticality” (jewelry items and watches are displayed horizontally in retailers, notes Cartier’s Carrez) and give clients a purpose to appear to stores extra typically. Jewellery and watches buys, by distinction, are generally distinctive occasion buys joined to significant everyday living moments and celebrations.

Sweet place

The principal incentive may perhaps be the possibility to seize a minimal industry share from the likes of Hermès and Chanel. Cartier handbags are priced roughly concerning €2,000 and €3,200. Which is a sweet place that is competitive in contrast to Hermès and Chanel handbags, normally priced at above €5,000 and reaching new highs adhering to new rate hikes. “Chanel bag selling price gains, followed by Louis Vuitton’s — Capucines rates are up much more than 20 for every cent considering the fact that 2020 — and Dior’s presents oxygen to the rest of the sector, together with Cartier and Bulgari,” says Morgan Stanley analyst Edouard Aubin.

Bulgari’s Emerald Magnifica Serpenti For good bag is priced at €360,000.

Photo: Bulgari

For its element, Cartier hasn’t improved its purse prices. “As the relaunch of the key collections is extremely recent, we have determined not to modify selling prices in the leather-based items classification, contrary to what was completed for jewelry and watches a couple of months ago,” suggests Carrez. (Cartier most a short while ago raised its jewellery and watches prices in May in the one digits to mirror the raise in gold rates and the forex influence owing to a powerful greenback, Cartier president and CEO Cyrille Vigneron explained to investors previous week for the duration of Richemont’s annual earnings conference.)

Bulgari’s purse price ranges commence at all-around €2,000, even though they go up to €360,000 for the Emerald Magnifica Serpenti, a a single-of-a-kind piece for particular customers in crocodile skin, showcasing removable snakehead jewellery with emeralds, diamonds that can be worn individually as a brooch or a pendant.

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