Fine Jewelry Seeks New Growth Avenues Online

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Fine jewelry is the next battleground online. As e-tailers look for new categories for growth, fine jewelry has become one of the fastest-growing sectors, with little price resistance and customers hungry for new designs and limited-edition pieces. Net-a-porter sold a Cartier watch via WhatsApp within minutes of launching the brand on its platform, Moda Operandi’s fine-jewelry business has grown 145 percent in the year-to-date with price points averaging $10,000, while more and more heritage brands, from Chopard to Buccellati, are jumping on the e-commerce bandwagon. With the e-commerce space becoming increasingly competitive — particularly after Matchesfashion.com’s $1 billion sale to Apax Partners — retailers are hunting for attractive business opportunities and are expanding their online offering with exclusive launches, informative content and new ways of presenting the product on the shopping page. It all boils down to trust and building a meaningful relationship with the consumer, say retailers. “Online has proven to be a powerful channel for purchasing luxury goods across all categories. Ultimately, this comes down to trust, which we know is earned,” said Deborah Nicodemus, chief executive officer of Moda Operandi. When launching Moda’s fine-jewelry business via the trunk show model, Nicodemus said she wanted to secure a serious jewelry customer and “push the

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