Net-A-Porter’s demi-fine jewelry campaign
Online retailer Net-A-Porter is expanding its jewelry category to offer pieces at an entry-level price point to drive aspirational purchases on its site.
Launching Oct. 12, Net-A-Porter’s demi-fine category will sell pieces by five jewelry designers to create a bridge offering between the high-end and fashion pieces sold on the ecommerce site. Across the board, luxury brands are taking a closer look at pricing structures to ensure that entry-level consumers can still access a brand until higher ticketed items can be afforded.
“What makes this project so special is that it unites elements of both fashion and fine jewelry, which have historically been very separate categories,” said Lisa Aiken, retail fashion director at Net-A-Porter.
“Having seen a notable increase in women investing in luxury jewelry for themselves, we have signed five new and cutting edge jewelry brands that speak to our modern customer who can build their collection at a more affordable price point,” she said.
Demi-fine debut
Net-A-Porter’s current jewelry offerings range from the pieces priced in the thousands to more affordable options that retail for only hundreds of dollars.
On the higher end pricing structure, Net-A-Porter sells jewelry by designers such as Fred Leighton, Kimberly McDonald and Stephen Webster as well as brands including Repossi, Gucci and Pomellato.
U.S. jeweler Tiffany & Co. also sells its jewelry via Net-A-Porter, through an exclusive commerce partnership launched in April. The partnership is unprecedented for Tiffany, as Net-A-Porter became the only authorized online seller beyond the jeweler’s monobrand Web site when the deal was put in place (see story).
Through its ecommerce collaboration with Net-A-Porter, Tiffany, for example, offers pieces ranging in price from $550 for a pair of T Smile earrings to $21,000 for a T Tennis diamond bracelet.
Net-A-Porter’s latest addition to the jewelry category is meant to capitalize on the interest of entry-level consumers who are priced out of the retailer’s high-end offerings.
Net-A-Porter’s demi-fine jewelry campaign
The demi-fine category acts as a bridge between fashion and fine jewelry. The category will sell contemporary jewelry designs of solid gold and silver at an affordable price point, starting as low as $30.
Net-A-Porter has curated the demi-fine category to include pieces that are unique, yet wearable, with five jewelers being included at time of launch.
When the category goes live Oct. 12, Net-A-Porter’s demi-fine section will include handmade pieces by Brooklyn-based Catbird NYC and Australian jewelry label Sarah & Sebastian. Both lines use recycled or reclaimed materials that are conflict-free and ethically sourced, playing into consumers’ expectations of transparency.
Demi-fine will also offer contemporary pieces featuring high-quality stones, such as opal and sapphire, designed by Wwake and an all silver collection by Munich-based Saskia Diez.
Net-A-Porter’s new section will also be the exclusive wholesale partner of London-based jewelry line, i+i, which creates simple pieces ideal for everyday wear.
Net-A-Porter’s demi-fine jewelry campaign
Accessible access
Balancing aspiration and accessibility has become a key for luxury brands.
For example, Italian fashion label Trussardi is showcasing its enhanced focus on its leather goods business with the release of a handbag designed to be a constant companion.
Part of the house’s planned five-year transformation toward accessible luxury, the Lovy bag features the craftsmanship and design details at an approximate $600 price point. As the luxury industry seeks growth in a difficult climate, a number of brands have reorganized their businesses with profitability in mind (see story).
Marc Jacobs is also upping its focus on leather goods and accessories sector.
Marc Jacobs’ spring 2016 collection of handbags, available in a variety of sizes and colors fitted with new double-J hardware, was the first released with the brand’s democratized pricing strategy as it gears up for a future IPO offering.
Modeling its strategy off Michael Kors, which has seen immense success in the category, Marc Jacobs handbags, ideally, will account for 70 percent of the brand’s overall sales going forward (see story).
For a retailers similar to Net-A-Porter, pushing a range of pricing structure serves to democratize offerings.
“At Net-A-Porter we are constantly at the forefront of new ventures, introducing new trends and new brands that we think the global customer will love,” Ms. Aiken said.
“With this in mind, the demi-fine category taps into a market that has not yet been explored by our competition, and being able to offer this to customers is truly exciting,” she said.
from Jewelry – Luxury Daily https://www.luxurydaily.com/net-a-porter-democratizes-jewelry-category-in-latest-offering/
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