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May 19, 2008
Luxury Jewelry Market Continues to Dazzle
Forget the economic slowdown – there’s no hard times in luxury jewelry. High-end jewelry retailers like Chanel, Graff and De Beers are opening new stores to meet growing demand.
Chanel will soon open a 1,838-square foot jewelry flagship on Madison Ave. offering rare pieces costing as much as $2.3 million. To celebrate the opening, Chanel is also creating a special 12-ring collection with prices over the $1 million
Graff is also opening a new Madison Ave. store offering its rare diamonds and gemstones. The 5,600-square foot space is meant to replace its current 800-square foot location on the same street.
Meanwhile, De Beers plans to open 25 new stores this year, six of which will be in the U.S.
The retailers say that although prices are high, the supply of luxury jewelry is relatively low and this is driving higher demand.
Posted by Blacks on May 19, 2008 10:15 AM
