No secret, 2020 is one of our most challenging years. The unpredictable pandemic has brought the global economic downturn. For the first time, many countries and regions, one after another, have gone into lockdown. The Covid-19 has significantly impacted physical retail stores. Almost everyone believes that the luxury industry is no exception. The pandemic has pushed it to the sharpest fall.
Hit hard, but this luxury is harder
Put a spotlight on the hard luxury. Maybe it is one of the exception in the market. China becomes the first country that returns to normal while other countries are still struggling. For most jewellery brands, marketing activities, celebrity campaigns, new products/ stores have been rolling out throughout this year. Instead of slowing down their paces, they see the pandemic as an opportunity to further penetrate the big market.
True to say, the hard luxury is getting more important, even though the physical retail has suffered under the pandemic.
Timeline: a look back at jewellery activities
The pandemic was seemingly under the control in China around April/ May. From then on, it’s brands’ showtime!
Tiffany and Co – is certainly the brand of the year. The Tiffany deal by LVMH was definitely the top news in luxury. What’s more? In June, the brand announced Jackson Ye, the wildly popular Chinese singer, being its brand ambassador. According to the news, the T collection was sold out immediately by his fans right after the announcement.
In July, Mikimoto officiated the opening ceremony of “The Eyes and Hands” high jewellery exhibition and its store reopening. Dilraba, its brand ambassador for Asia was in presence to add a grace to the event.
In August, De Beers organized a one-of a-kind exhibition called Nature’s Origins. The exhibition was hosted in Nanjing, Shanghai, Tianjin, Beijing and Xian, making it a three-month tour in China. In the project, the brand put a spotlight on its conservation efforts by unveiling the beauty of the four diamond mines, as well as its diversity and moving giant projects.
Also in August, Qeelin unveiled an installation entitled Powerful Love at Sanya. The place is likely the new darling of travel retail following after the government’s new tax-fee policy. At its duty free boutique, Qeelin also debuted a special collection “Xiao Q”.
When it comes to September, Kering-owned Boucheron opened its fourth China boutique in Beijing. What make it even special is – it came with the brand’s first tea salon. It is inspired by the Jardin d’Hiver in Maison Boucheron, Place Vendôme in Paris.
In October, Cartier for the first time released its latest global high jewellery collection in China. As we all know, it almost takes place in Paris every July to showcase the brand’s expertise and savoir faire. In 2020, Cartier’s [SUR]NATUREL exhibition moved to Shanghai, and even opened to public.
Also in October, Bvlgari organized the Bvlgari Avrora Awards in Beijing. It was a celebration to pay tribute to those women who have made great contribution in their areas, including cinema, sports, dance and more.
In the recently-ended November, the renowned Taiwanese jewellery artist Cindy Chao also stepped in Shanghai. She created a moveable art installation. It showcased her Black Label Masterpieces as well as her White Label 15th anniversary collection.
Pandemic crisis as a catalyst
Without doubt, jewellery brands see the importance of the Chinese market. The pandemic crisis is just a catalyst accelerating many of the execution from their to-do lists. In 2020, we have gone through from fear to adaptive. The hard luxury is getting more agile than everyone expects. In 2021 – jewellery must be one of the things that we can already start looking forward to.
Who will be the winners? I bet they will be. Your thought?
