Beaux Bijoux-Jewellery of France

France has been synonymous to all things luxurious and fine. So, it is only befitting that a country so popular and unique for its luxury market is also the centre for fine jewellery. Place Vendôme located at the heart of Paris is a city square dotted with high jewellery brands ever since its inception in 1702. The country might have veered away from the pomp and pageantry its Monarch is still famous for, but the heartbeat of Place Vendôme still resonates with sheer luxury and opulence all the same.

2016 was particularly difficult for France’s luxury market (and Europe in general) because of all the terrorist attacks, which adversely affected tourism, and in turn the sales of luxury jewellery. That coupled with the Presidential election and an apathetic economic climate didn’t help the luxury market flourish in anyway. Having said that, 2017 has seen specs of positivity in terms of tourism and an upward sentiment as far as luxury jewellery goes.

While the high jewellery houses such as Cartier and Boucheron are still widely popular, a general uncertainty in the economy has given rise to nouveau fine jewellery brands such as Pandora to establish itself in the French market. The demand for modern, creative jewellery in competitive prices has led to the growth of such brands in France.

The Greats
Place Vendôme and adjoining Rue de la Paix is home to luxury watch and jewellery brands that have established themselves for over a few decades and a few new entrants that want to be associated with the place’s heritage and culture. Cartier, a brand that is an epitome of luxury, opened its flagship store in Paris in 1899. A favourite amongst Royals and celebrities, Cartier is known for its fine craftsmanship and attention to detail so much so that today, the world of haute joaillerie is nonexistent without the brand. Fascinated by its unique style, folks from the Royalty, not just in France but other parts of the world started commissioning jewellery from Cartier. Even the great Kings of India were enchanted by Cartier’s creations that Louis Cartier himself has personally visited India to tend to his Indian clients. From fashionable wristwatches to tutti fruitti jewels, popularizing Art Deco-inspired designs and its famed panther collection, Cartier was, is and will always be at the heart of France’s high jewellery market. Chaumet set its foot in Paris in 1780. Initially a watch designer, Chaumet was the official jewellery designer for emperor Napoléon. Marie-Étienne Nitot founder of Chaumet designed jewellery for Napoléon’s wedding and his coronation crown as well. Chaumet is well known for its choice of exceptional diamonds and also combining brilliant diamonds with gemstones like corals and peridots. Along with fashion icons Dior and Saint Laurent Chaumet catered to the “New Look” era thus becoming popular among French aristocracies. A brand that has witnessed highs and lows during its tenure, today it is owned by LVMH.

The brand is known to popularize motifs that draw inspiration from nature such as flowers and animals. From Grace Kelly to Elizabeth Taylor and the Duchess of Windsor, Van Cleef & Arpels is known to have along list of celebrity patrons. Today the brand has boutiques in Geneva, Milan, Shanghai, US, the Middle East and Australia.

Other well-known high jewellery brands in France include the likes of Mathon and Mellerio dits Meller. High fashion luxury brands such as Hermes, Chanel and Louis Vuitton are also well known for their bespoke jewellery collections. Creativity and a penchant for art runs in every French person’s blood and today, some of the world’s best jewellery designers are from France, like Lydia Courteille and Lorenz Baümer to name a few.

Current Scenario
France is one of the largest economies in the world. The country is 8th largest exporter of jewellery of $4.7 billion forming a market share 4.9 per cent in the world. While businesses are recuperating from a bad year, the political and economic scenarios are still not flourishing leading to the tightening of purse strings. The market has definitely become more polarized and in that sense, these fine jewellery brands have to reposition their brands to cater to the new age customers’ expectations. But all said and done, while the luxury jewellery market dipped by 8 per cent in Europe, the fine jewellery sector saw a mild increase of 2 per cent in 2016. This is certainly a positive reflection for the industry and we can expect the future to be better.

Outlook
The sentiment when it comes to the future is mixed, as a few positive prospects in 2016 is not really a benchmark to go by. Jewellery makers increasingly understand the need for change and are creating jewellery that appeals to the millenials. The value-for-money culture is seeping in slowly, so while the rich tourists have their eyes on brands like Cartier and Boucheron, the gen pop of France are eyeing at the more accessible jewellery brands. Having said this, the fast fashion jewellery brands are doing extremely well and will continue to do so.