Friday, 25th January 2008 (3282 views)

Luxury jeweller Van Cleef & Arpels is optimistic about sales for fine jewellery in 2008, despite concerns over the global economy, according to reports.

The Paris-based company, whose pieces have been worn by celebrities from Marlene Dietrich to Madonna, told Reuters that strong gold prices will help to keep the intrinsic value of jewellery high, allowing the market to weather concerns about a consumer downturn brought on by a US recession.

The company's president, Stanislas De Quercize, said many people see jewellery as a form of economic "protection", particularly at the high-end of the market.

He also predicted "double digit" growth for the company in China and other Far East markets, as well as increasing demand from Russia.

"China is a priority for us … they are very demanding and want the best," Mr De Quercize said.

Demand for in China for Van Cleef & Arpels pieces, which have been included in shows by fashion designers Karl Largerfeld, Julian McDonald and Gaspard Yurkievich, is so high that the company is doubling the size of its boutiques in Beijing and Shanghai, Reuters reports.

 

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