As global jewellery market is set to grow faster than other luxury industries, Louis Vuitton is expanding its jewelry segment with a dedicated store on Paris’ Place Vendome, the Heart and Soul of High Jewellery. The new Paris store will sell both mid-range items, from as little as 650 euros ($820), to diamond and sapphire-encrusted necklaces and rings, informs reuters.
LVMH group is considering opening new stores for jewellery and watchmaking in other major international capitals. The move demonstrates that LVMH wants to maintain the image of a global luxury brand active in all product categories.
“The store and the workshop are an important step, a foundational decision, indicating that we look ahead with optimism,” said Hamdi Chatti, director of jewellery and watches for Louis Vuitton.