Prada Focuses on Sustainability in ‘Disruptive’ Fine Jewelry Debut
It’s an ironic thing: in 2016, fashion will be the first of many trends to fall by the wayside. In the short term, the fall collection may be the most talked about. But long term, many fashion companies will be scrambling to get out of an increasingly saturated market. And yet, this phenomenon seems far from inevitable.
From the outset of its existence, the fine jewelry movement was unique. While most fashion companies have a limited number of designs under development, fine jewelry companies never seem to stop creating new ideas.
In fact, for the last 30 years, the industry has never lost its vitality. In its most recent year, the fine jewelry industry was worth $3.5 billion. And yet, only 5 percent of the world’s fine jewelry is sold in America.
What’s behind this market?
It’s complicated, as fine jewelry is a highly-saturated industry. It is often mistaken for “luxury” or “boutique” fashion, but is, in fact, far more complex. With a $3.5 billion industry, it is incredibly difficult to break through. And yet, this growth is a testament to the power of fine jewelry.
The rise of fine jewelry in the US occurred at a time when the demand for luxury items was booming, while the number of jewelry-making students was flat. Fine jewelry has been seen as a luxury fashion brand in America, but that’s not the case. It has been an essential product, needed for almost every part of modern society. As we all know, luxury does not necessarily come in the form of an opulent watch that you would spend a week wearing, but rather in the form of something that helps you take care of your body and brain.
The shift to fine jewelry
The rise of fine jewelry was a reaction to the rise of social media platforms like Facebook, Instagram, and Twitter. These websites have radically affected society, and now, young adults who grew up around this technology, are turning to it for “self-expression,” as they call it. The term “fine jewelry” was coined by a photographer named Annie Leibovitz. Originally an artist,