The following article is published courtesy of Israeli Diamond Industry Blog
Author: Roe Kalb
Famed jewelry company Faberge announced it would soon debut a new collection of “conventional jewelry,” following increased consumer demand.
The House of Faberge, which was founded in 1842 in Imperial Russia and earned its fame for designing elaborate jewel-encrusted eggs for Russia’s Tsars, is owned by Pallinghurs Resources, a subsidiary of the Dutch holding company APG. The latter announced recently that it was venturing into mining with a $250 million investment in the field.
APG, via Pallinghurs, acquired Faberge in 2007 in the hopes of breaking into the competitive luxury goods market and challenging jewelry giants like Bulgari, Tiffany’s and Cartier.
French boutique jeweller Frederic Zaavy was tasked with designing a collection true to recent diamond jewelry trends – which have little in common with Faberge’s signature mosaic style, where hundreds or thousands of tiny diamonds and gems are used to create each piece. Is the diamond industry heading towards a change?
Pallinghurst Chairman Brian Gilbertson said that the company has already received “great feedback” on the collection, adding that consumers also expressed specific interest in pieces featuring large diamonds.
Faberge’s new contemporary collection includes 132 pieces in prices ranging from $40,000 to $7million.
Faberge has only one boutique, in Geneva. Instead of creating a worldwide chain of stores, the high-end jewelry house holds private, invitation-only showings across the globe.
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