We met with Marco Benedetti, Managing Director of Jessica Jewels S.p.A., to discuss the changes in the Luxury Industry.
What are the prospects for the Luxury industry?
«A veritable cultural change is taking place. Forty years ago, the perceived value of precious jewellery was very high. Today, lifestyles have changed: jewellery is often used as an accessory, chosen daily to match an outfit. There has been a shift to a swifter fruition, which has opened the way to non-precious materials such as bronze and brass. At the same time, consumers are more informed and are looking for authenticity, fashion accessories with details that are increasingly faithful to the canons of jewellery, distancing themselves from the world of fakes. In order to compete in the global challenge, being more competitive will be crucial: maintaining high quality and increasing productivity through technological innovation and research».
Let’s delve into the key elements for competitiveness
«The 4.0 industry applied to those production segments that do not directly generate a perceived value, increasingly ethical and sustainable policies, not only regarding the environment, but full circle. Today, ethics cannot be separated from business logic. The impetus that the lockdown has given to the digitization of businesses cuts out much of the sensory experience of selling in a shop: the main thing that “pops out” is price, not just design and exclusivity. To sell online, competitiveness becomes even more crucial».
Any anticipation of style trends?
«The world of jewellery is experiencing a return to minimalism, to a classic look. The colours yellow, red, and chocolate are giving way to white. Baguette and Princess cuts, which have made jewellery history, are making their mark».