High-End and Recession-Proof in Las Vegas

Mooss Le Vian, president of Le Vian Corp., is one of them and cites the company’s emphasis on fashion (each year Le Vian does a fashion forecast at JCK Las Vegas) as one of the reasons for their ability to stay ahead of the game. This year, the company is putting their sights firmly on two favorites – chocolate diamonds and strawberry gold. These two color themes are present throughout Le Vian’s eight different lines in materials such as pearls and gemstones.

Like many other companies, Le Vian says it’s the company’s position at the higher-end of the market that is helping them emerge relatively unscathed through the economic slowdown, although this is not the only reason. “We have the high-end covered,” he says, “but we also have a number of different price categories to suit a number of different needs. We are not just one price and we are not just one look.”

While Le Vian prides itself on being at the forefront of fashion, Jingirian is working to be seen as extremely classic. “We stopped working with colored gold and diamonds because everyone is doing it,” says Khatching Jingirian Jr. “It’s a fad and not necessarily something that will last. Instead, the company is working strictly in 18 karat yellow or rose gold.

Rather than using the price of gold to make lighter, hollow pieces, Jingirian is going the opposite way and making their product chunkier. “We are making it as solid as we can get it and we are receiving a great response. The high-mid ends to luxury are looking for substantial pieces and they want weight,” he says.   

Regarding the price of gold, Jingirian thinks that it is a misconception that people are not buying, although he does admit that consumers across the board are being more cautious. He says that many consumers are looking to invest in gold and are choosing to do so with a piece of jewelry, even if it is not the soundest financial move.  “We’ve noticed that the higher the price of gold, the more people are buying.”

While many companies claim not to be too affected by the price of gold, Kendra Bridel Weinman, brand ambassador of Nikos Jewels and Caressa, says the spiraling prices are exactly the reason that Nikos Jewels is launching its first silver range. “We ran an advert in Details magazine in which we tagged a number of retailers who carry our brand. They told us that they received more calls for that advert than any other in which they had been tagged. The problem was, all the callers thought that the product was silver when it was actually gold. The price of the pieces meant that they couldn’t afford to buy it.”

In response to ongoing demand for a silver range, many Nikos Jewels pieces are now being rendered in the less expensive metal (all the items are under $1,000), while a number of new pieces are being done in silver only. As well as the purely silver ones, there are also a numbers of products enhanced with black diamonds.

Bridel Weinman’s expectations for the new line are, she says, extremely high. “It’s the right price and it falls in line with what the consumer is asking for. Men can now go out and buy jewelry spontaneously, something that the price of gold didn’t allow them to do before.”

Designer Toby Pomeroy is also designing more items in silver these days in response to climbing gold prices. The Oregon-based jeweler uses reclaimed gold and silver and says that these days his line is split fairly evenly between the two metals, with demand for silver actually being the stronger of the two.

While he has not seen his overall sales fall off because he is moving more up market, Pomeroy says that re-orders have become quieter. Nevertheless, with his unique selling point of reclaimed and recycled metals, Pomeroy is optimistic about the outlook for the future. “There are a lot of opportunities,” he says. “We are moving higher-end, although we are not pricing out or away from the smaller stores.”

Luxury and Premier run until May 29.