Trends

Diamond jewellery more fashionable than ever. By Claire Adler

Diamonds have become more democratic than ever. No longer exclusively worn by brides, the rich or women, they can be found in all sorts of places – even on the remains of a human skull. This month, Claire Adler looks at trends in diamond jewellery.

Diamonds have always been desirable. There's no question about that. But it's only recently they have become so intensely fashionable. Since diamonds were introduced to the world of fashion and celebrity several years ago, they have secured appeal at all market levels.

Today, genuinely affordable diamond jewellery is available from Asda, Tesco, amazon.com and now fashion retailer Next. During the last two years we've seen first time diamond jewellery collections from the hands of Shaun Leane, Stephen Webster, Erickson Beamon, doyenne of British fashion, Vivienne Westwood and French crystal manufacturer, Baccarat. Meanwhile, 2005 sales of diamond jewellery at Tiffany, Cartier and Bulgari have been positive. The Sotheby's Diamond Collection, a joint venture with Steinmetz Diamond Group, produced over 100 items worth $100,000 or more.
And in case you hadn't noticed jewellery competing directly with, amongst other things, luxurious mobiles as arm candy for wealthy consumers (Nokia's poster advertising tagline, Precious metal, was a dead giveaway), Nokia-owned mobile phone maker Vertu, recently reported its diamond segment is growing rapidly.

In the United Kingdom around 85% of women own a piece of diamond jewellery. They might be marrying later but British women are not hanging around. Female self-purchase of diamond jewelllery is up 15%, according to the Diamond Trading Company. In addition, “normal blokes, rather than rappers and gangsters” are buying diamond jewellery for themselves, says Susan Farmer, PR consultant to the DTC.

“The lower end, including companies like Hot Diamonds are doing incredibly well. The top end is booming too. The middle market is healthy but a little flat,” confirms Farmer.

According to DTC figures, last year the retail value of diamond jewellery sold globally was $68 billion. The UK figure was $2 billion.

MIDDLE MARKET BRANDING

Antoine Colonna, head of Merrill Lynch's luxury goods equity research team says only 10% of diamond jewellery is branded and he is upbeat about opportunities for moderately priced and cleverly branded diamond jewellery.

An example is French brand Mauboussin, currently repositioning itself as an upmarket yet trendy jewellery chain. It owns a historic flagship store in Place Vendome, but it recently opened a new boutique on the Champs Elysees where its neighbours include chain stores and fast food haunts.

Montblanc celebrated its centenary by launching a 43 faceted star shaped diamond. But in the meantime, Montblanc's diamond jewellery best seller is an affordably priced, branded sterling silver Star necklace with turning pendant with a diamond on one side which retails at £315 – a good example of the trend for casually luxurious diamond fashion jewellery.

Designers are using diamonds to accent jewellery without using big stones at all, thanks largely to the growing activity of cutting and polishing centres in India and China which focus on small diamonds.

VINTAGE LOOKS

Some diamond jewellery has an antiquey look. Stephen Webster's Vintage collection combines white gold with diamonds. Michelle Ong's intricate gothic Black Lace designs combine diamonds set against blackened silver. American celebrity jeweller Fred Leighton, whose creations are routinely worn by the likes of Jennifer Lopez and Nicole Kidman, is expanding his vintage jewellery boutiques to new stores in Las Vegas and Beverley Hills.

Van Cleef & Arpels has a necklace in its Dentelle collection (the French word for lace) which hints at a lace collar and blends white and pink diamonds. The brand's Couture jewellery is inspired by the extravagance of the roaring twenties.

SHAPES

Many fresh designs have a geometric feel such as Pasquale Bruni's Marquise collection and Bulgari's Parentesi collection, based on an original 1970s Bulgari design - a jewellery interpretation of the interlocking pattern of stone blocks on Roman street pavements. H Stern's Cobblestones collection is also inspired by the seemingly unromantic notion of pavements. Both work beautifully.

The current towards natural shapes and motifs from the natural and animal world is exemplified by Bulgari's floral inspired Diamond collection, Pasquale Bruni's Africa's Talisman ring comprising an elephant trunk which wraps round the finger and Harry Winston's Marquesa collection allied to the grace of butterflies.

MATERIALS JUXTAPOSED

Another important trend is a penchant for juxtaposing diamonds with unconventional materials such as Yossi Harari's wood bangles accented with diamonds in 24ct gold, or Mantra, which embeds diamonds in a necklace of ebony. Dallas based Anthony Nak has combined chain mail and leather encased black spinel with diamonds. Cognac diamonds, as in the De Beers Talisman collection, are popular too. Rough diamonds mixed with faceted stones are also evident. New York based Turkish designer Gurhan uses rose cut diamonds and black diamond beads in his organic designs. He also combines diamonds with hammered yellow gold and platinum.

COLOURS

In reality, only the seriously wealthy can afford to splash out on fancy coloured diamonds and larger than life stones. One diamond in every 10,000 found is a proper fancy colour, according to the DTC. 0.01 per cent of DTC sales polish to 1 carat or above - amounting to approximately 500,000 polished diamonds a year in all qualities. Half of all diamonds polish to two points or below.

Thierry Chaunu, president of Leviev, says rings ranging from seven to 12 carats are the most coveted. “We are currently working on a commissioned piece featuring three exceptional stones – a fancy dark blue, a fancy vivid yellow and a fancy vivid purplish pink diamond, to be set in delicate pave setting,” he says.

At Hamilton and Inches, in Edinburgh and Knightsbridge, managing director Jamie Fraser reports “diamonds are hugely in favour. Sales of yellow diamonds have picked up in the last 12 months and now there are more requests for pinks and blues, which are even more rare.”

Earlier this month, Harry Winston opened the doors to its Bond Street boutique – undoubtedly a sign of confidence in the current market, and in London in particular.

CULTURE VULTURES

Elsewhere on Bond Street, jewellers Bentley and Skinner are working behind the scenes on Damien Hirst's diamond set human skull – the most expensive contemporary work of art ever created.