A JEWEL OF A STREET: Look out Rue de la Paix, it looks like Avenue Montaigne is about to become a hot new address for fine jewelry in Paris.
According to sources, Van Cleef & Arpels is taking over a space on 18-20 Rue François 1er previously occupied by Zadig & Voltaire. It sits opposite the giant Dior 30 Montaigne flagship and next door to Dinh Van and the Tiffany & Co. boutique on the corner of Avenue Montaigne.
What’s more, word has it Cartier is eyeing a space at 53 Avenue Montaigne previously occupied by Saint Laurent, which just moved into a larger flagship at No. 35-37. The Richemont-owned jeweler has a boutique nearby at 51 Rue François 1er.
The high-profile jewelers would join a tony strip long associated with luxury fashion brands including Louis Vuitton, Chanel, Gucci, Dolce & Gabbana, Giorgio Armani, Prada, Balenciaga, Versace and Loewe, which recently christened its first Casa flagship showcasing all of its product categories.
Harry Winston sits at No. 29 Avenue Montaigne, Chrome Hearts at 18 and Chanel operates a separate address for its fine jewelry at No. 42.
A recent report from HSBC described a “prolonged jewelry super cycle” in the luxury sector.
“Branded luxury jewelry is a great place to be,” said the report by analyst Erwan Rambourg. “The value proposition works (many brands having been reasonable in price hikes relative to handbag peers), creativity abounds, the segment’s visibility has increased with more efficient marketing and products speak to different generations and hold their value.”
