Fortune Magazine Talks About the Import of Oscars to High End Jewelers!!
The March 3 issue of Fortune Magazine — either about to hit newstands or already there– talks about the importance of red carpet events — particularly the Oscars– to the bottom line of the high end jewelry brands.
An excerpt from the Fortune article:
****For top names like Harry Winston, Chopard, and Fred Leighton, Oscar night is the single most powerful marketing platform.
****50,000 CARATS OF DIAMONDS were lent out for the Oscars last year.
In the weeks prior to the show, each jeweler invites celebrity stylists–the gatekeepers to the stars–to pick from a travelling treasure chest of rare pieces. This year Harry Winston took $56 million worth of jewels on the road, including a 71-carat diamond ring worth an estimated $9 million.
****$750,000 IN SALES was what Harry Winston generated after last year’s Oscars when it sold three Diamond Carpet Bracelets worn by The Last King of Scotland star Gillian Anderson for $250,000 each.
In 1999, the three-stone necklace worn by Uma Thurman spawned an entire category that grew to $3.7 billion in 2006.
****$157 MILLION was what Toronto-based mining company Aber Diamond paid to assume control of Harry Winston in 2006. Aber then took its target’s name and listed on the New York Stock Exchange last year, making the 74-year old jeweler a public company for the first time.
There’s more to this story. Make sure you pick up a copy of the Fortune Magazine to get the rest of the story. When you read this, most of the jewelry will have been borrowed or at least seen, tried on, considered based on the dresses and suits that those attending the Oscars will be wearing. It’s a toss-up whose jewelry will be worn — often not known till the last moment as celebrities consider various dresses or tuxedos.
Given that the Platinum Guild is not sponsoring their traditional awards suite featuring the most unusual platinum pieces from around the globe, their missing presence and the lateness of the settlement of the WGA strike does have an impact on both the jewelers as well as the fashion houses and the accompanying accessories brands that are associated with these red carpet events.
See you for the Oscars wrap-up
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