How the high jewellery market boomed in Asia during Covid-19: Chanel, Cartier, Bulgari, Van Cleef & Arpels and Graff used Zoom and private viewings for clients to maintain relationships

Jun 6 , 2022

Heavenly Dreams necklace and earrings from the Sous les Étoiles collection. Photo: Van Cleef & Arpels

Chanel will launch its new 1932 high jewellery collection in Taiwan rather than Paris, while Cartier was looking to China even before the Shanghai Covid-19 lockdown

Bulgari’s online platform took off in China – same for Van Cleef & Arpels, with a wealth of new stores in the region; Graff also reported high revenues

There is no denying the upheaval the world has experienced in the past two years, with the Covid-19 pandemic and now the war in Ukraine. Yet somehow, the jewellery world has provided a spark of joy during these dark days. When people could not travel, they found other ways to spend their money, and gifts and redemptive splurges on jewellery have proved wonderful remedies amid gloomy news.

Jewellery designers and brands have proved remarkably resilient despite the limitations of rolling lockdowns. They fast-tracked the use of digital technology to keep in touch with customers through social media and showcase new designs, and until in-person one-to-one client appointments resumed, held Zoom meetings to share their collections. For a period it was about engaging with clients, maintaining a dialogue rather than making sales.

Cartier’s Synesthesie necklace. Photo: Cartier

This evolved, and soon – for VIP clients at least – precious jewels could be delivered by driver, along with a security guard, to their homes where they could try on the pieces in privacy. There was found to be a better conversion rate if clients could try on jewels with their wardrobe, which has led many in the industry to believe that the future for high jewellery is becoming more private and curated.

More recently still, there have been reports from Shanghai of luxury brands getting creative by sending gourmet meals and food parcels to special clients during the fresh wave of lockdowns, to help maintain their relationships.

In the last few years, the centre of gravity for fine jewellery and watches has increasingly tilted towards Asia and particularly the Chinese consumer. According to global management consultant McKinsey & Company in its “State of Fashion” special report on watches and jewellery, produced in partnership with Business of Fashion, the region already represents 45 per cent of all branded fine jewellery sales. Before the latest restrictions in Shanghai and Beijing, Cartier and other high jewellery houses were hosting lavish launches and exhibitions in China instead of Paris (which was then still under pandemic controls).

Chanel’s Allure Céleste necklace. Photo: Chanel

Similarly, Chanel will be unveiling its new 1932 high jewellery collection at the end of this month in Taiwan, not the City of Light. The Allure Céleste necklace, the hero piece of the collection featuring a 55.55-carat sapphire, was revealed in January and shows the favourite celestial symbols from the Bijoux de Diamants collection designed in 1932 by Gabrielle “Coco” Chanel, now being reinterpreted for a fresh generation of fans.

Ironically, the pandemic allowed jewellery brands to innovate and deliver new experiences for customers. Bulgari’s online platform became its No 1 global sales channel, both on and offline, increasing by more than 100 per cent. In China this may be down to its brand localisation, linking brand DNA with local culture.