Filed under: Jewelry
Across various sectors of the luxury market the story seem to be the same, the mid-range is suffering while the high end remains strong. Reuters reports that Italian jeweler Buccellati has seen a drop in less expensive jewelry in the United States. Maria Cristina Buccellati, head of communication for the company, says that they've only just started to feel affects of the faltering economy in the U.S. Bucellati's concerns follow those expressed by Buglari and Richemont. For Buccellati sales of jewelry priced between 10,000 euros ($15,880) and 30,000 euros ($47,152) had slowed in the United States but jewelry items priced above 100,000 euros ($157,175) are still having strong sales.
Buccellati is fairly protective of their brand and are not as well known as other high-end jewelers, partially because they are one of the only high-end jewelers who does not routinely lend jewelry for actresses to trot out on the red carpet. They also don't aim for the masstige market, Buccellati makes only about 3,000 jewelry pieces a year and around 500 of those are one-of-a-kind pieces.