Online shopping of fine jewellery gaining popularity
Prestigious jewellers are joining the ranks of online retailers and offering a range of services
ot so long ago, online stores were way down the list of our shopping destinations when it came to the purchase of a Oscar de la Renta gown or an exotic Fendi tote. But today's e-commerce giants are flexing their muscles in the field of luxury shopping, going beyond fashion and accessories to begin tapping the turf of fine jewellery.
"The question is not whether or not to embrace e-commerce, but how fast and how well we do it," says Montblanc CEO Jérôme Lambert. "It's very happening. We are not looking at many alternatives, are we?" Montblanc rolled out its e-store in August last year. Now its fine jewellery and high-end watches are available online, featuring everything from HK$46,000 diamond earrings to luxury watches priced over HK$100,000. The brand is joining traditional jewellers such as Cartier and Tiffany & Co, whose online stores feature diamond wedding bands, best-selling pendants and more.
While traditional jewellers are branching out online, luxury e-tailers such as Net-A-Porter, Lane Crawford online and Editorialist, are also adding fine jewellery to their portfolios. Other players such as Plukka and Ylang 23 take a more focused approach towards online sales of fine jewellery.
As shoppers get more used to luxury e-stores, the price barrier for online spending is slowly diminishing. Net-A-Porter, for example, sold a Loree Rodkin bracelet online for nearly HK$420,000. Since its first venture into fine jewellery six years ago, Net-A-Porter has seen its sales volume increase tenfold, according to buying manager Sasha Sarokin.
The booming trend not only reflects traditional jewellers' efforts in digital integration, but also customers' growing demand. The convenience of online shopping is appealing to affluent yet time-tight customers.
"Luxury consumers are generally pressed for time, hence they respond well to the convenience of online shopping," says Lianna Man, vice-president of Lane Crawford, who overlooks jewellery, home and womenswear. Lane Crawford's online store, launched four years ago, now stocks a diverse range of products from fine jewellers such as Vera Wang Love, Repossi and Pomellato.
Sarokin also agrees that customers appreciate the beauty of being able to shop anywhere at any time.
"Our customers are online shoppers first and foremost," Sarokin says. "Today, luxury is about being able to shop from the best of high fashion at your convenience and even on the go. It's also about being able to try things on in your home with the rest of your wardrobe and to receive door-to-door delivery and returns free of charge."
Like fashion and accessories, online shopping for fine jewellery offers the option of comparing styles and prices almost instantly, with only a few clicks. The experience, compared to that of visiting a traditional brick-and-mortar jeweller, has its own special charm.