After weeks of destination shows for press and hand-picked high jewelry clients, Haute Couture Fashion Week in Paris saw a shower of diamonds across Place Vendôme and some of the city’s most luxe hotel suites, with the latest fine and high jewelry offerings from the big jewelry houses.
Against the backdrop of increasing competition between the two largest players — Cartier and Tiffany — plus newcomers, the sector is expanding, bringing new opportunities.
The luxury brand reached a historic milestone by exceeding a €200 billion ($218 billion) market value this week, per Bloomberg, soaring past Swiss pharmaceutical giant Novartis AG. This impressive feat is attributed to the luxury brand’s strong performance, rallying approximately 30 percent so far in 2023, buoyed by investor confidence in the high-end market’s continued success.
It is now time to consider diamonds as viable alternative investments that represent both the beauty and resilience of “hard” assets, especially in periods of economic downturn.
In these contemporary circumstances, alternative assets, especially diamonds, are proving to be a better choice to hedge against inflation.
Fancy colored diamonds have increased in popularity in the last decade, leading the large auction houses to realize some of their largest gains on the back of record-breaking sales.
The rich keep spending. Luxury goods maker Hermes International’s stock soared Friday after the company reported sharply higher profit and revenue despite global recession fears.
Rio Tinto has showcased its rare pink, red, violet and blue diamonds from the Argyle mine in Western Australia virtually to a group of collectors, connoisseurs and luxury jewellery houses.