NellyRodi, a consulting agency specializing in the creative industries, recently presented its analysis of future trends in watchmaking and jewelry in Paris. In an exclusive interview with LUXUS PLUS, Clara Arnoulx de Pirey, NellyRodi’s Luxury Director, shares her vision of the sector’s future.
Luxury brands are reinventing themselves and pushing back the limits of their creativity in jewelry and watchmaking. And the sector remains buoyant despite an uncertain economic climate.
Clara Arnoulx de Pirey, Director of NellyRodi’s luxury division, presented LUXUS PLUS with the latest “Watches & Jewelry’s New Era” study, devoted to the latest major trends in watchmaking and jewelry.
LUXUS PLUS: What changes in the luxury sector prompted NellyRodi to carry out this study?
We have many clients in the watch and jewelry industry in France and Switzerland, and we see that these sectors are constantly changing and evolving. The partnership between Tiffany & Co and Pharell Williams or the collaboration between Audemars Piguet and Travis Scott are strong signs of a new incarnation for brands. Chaumet signs Olympic medals to recreate a link with performance, which is at the heart of the House but not necessarily known to the general public. Then there are all the brands that are developing around recycled gold or synthetic diamonds. This whole dynamic is a response to the challenges of tomorrow. What’s more, we’re seeing growing demand from customers of all ages and nationalities. They are increasingly expert and demanding in terms of products and experience. Finally, the sector has also become highly competitive. Alongside the legitimate, long-established players, a whole new guard of highly agile brands is emerging. Major jewelry customers, who traditionally buy at Place Vendôme, are mixing their purchases with pieces from these young designers who know perfectly how to embody their brand and develop a whole universe around their jewelry, a lifestyle with which customers want to identify. They want to be part of the “community”. This notion of closeness and belonging is important.
The sourcing of precious stones and metals, production processes and changing lifestyles are also evolving, leading to a search for new materials and new wearable materials. In this respect, what’s happening in fashion is setting an example for watchmaking and jewelry. This is what led us to carry out this study: what are the new criteria of desirability, and what impact could they have on brands’ marketing and communication strategies?
L+: Is the desirability of luxury endangered?
A luxury product is intrinsically desirable. But several factors come into play when it comes to desirability. When we talk to our customers, we see that ethics and responsibility often come up in the subject of desirability, and become a differentiating marker. This can take the form of integrating second-hand products into a brand’s offering (for example, Bucherer with Rolex CPOs, or its partnership with Sotheby’s), or rethinking the use of certain materials, in particular to reduce carbon emissions. Making a brand desirable also means bringing value to customers, creating a lasting and memorable interaction with them, with a long-term vision that avoids an overly opportunistic approach. Maintaining desirability also means opening up behind-the-scenes, expressing the brand’s history, creating more innovative scopes, drawing inspiration from the codes of entertainment, imagining immersive places of interaction with products, always bearing in mind the codes of responsibility.
L+: What do today’s customers, especially the younger generations, expect from luxury?
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Featured Photo: © NellyRodi
