The Shophound

JEWELRY INTRIGUE: Is Elsa Peretti Fixing To Split With Tiffany?

Today's WWD is floating a rumor that Elsa Peretti, a mainstay of Tiffany & Co.'s stable of designers, is considering leaving the famous jeweler which has manufactured and sold her work exclusively since 1974. This information comes after SEC filings revealed that Tiffany has offered to purchase the designer's intellectual property outright for an undisclosed sum. Peretti reportedly responded by suggesting that she was considering "retiring" their longtime licensing agreement and severing her relationship with the retailer.

If Peretti left exited the jeweler, Tiffany would left with Paloma Picasso, Jean Schlumberger who died in 1987 and Frank Gehry who is primarily an architect in its portfolio of proprietary branded jewelry. The last high profile split from Tiffany was Angela Cummings' departure in 1984. She launched her own fine jewelry company with in in-store shop at Bergdorf Goodman, but closed her business in 2003.

If Peretti did split with Tiffany, the separation would be a year and a half process during which rights to manufacture and sell the designs would transfer back to the designer in stages. At that point she would have the option to make her own arrangements for selling products under her own name. Should she choose to do so, there is likely no shortage of retailers who would be ready to offer Peretti's sleek, minimal and timeless designs under their own roofs. Her work ranges from relatively inexpensive silver jewelry to pieces in precious metals and gemstones as well as accessories and home furnishings, suggesting a broad market for an independent Elsa Peretti brand. The question implied by WWD's article is whether or not the 72 year old designer is ready to end what has always seemed like a mutually beneficial 36-year relationship with Tiffany in favor of striking out on her own. The classic, iconic qualities of many of her most famous designs (Diamonds by the Yard, Alphabet, the signature Open Heart, the Bone Cuff, etc.) indicate that her archive of designs will continue to have a commercial appeal long after she might choose to retire, and there would also be opportunities to expand her brand into other design categories like furniture or other home furnishings not carried by Tiffany. Is this her plan, or if it is simply a negotiating tactic to adjust her current agreement with Tiffany? The result could be a huge opportunity not only for Peretti but for any number of retailers who might be eager to be in the Peretti business.

Tiffany, Elsa Peretti Licensing Deal May End (WWD)

FLIGHTS OF FANCY: Have Another Look At Cartier's Mesmerizing Short Film

We don't know what you were watching on television on Sunday night (actually, we don't even remember what we were watching) but we do remember being transfixed by what we thought was a commercial for Cartier that went on and on for a whopping three and a half minutes. Titled L'Odyssée de Cartier, it follows the brand's mascot, a jeweled panther come to life (apparently a jaguar, in this case for those who want to quibble over big-cat genus terminology) as it sprints from St. Petersburg to China to India, ultimately winding up in the Place Vendôme home of Cartier at the side of supermodel Shalom Harlow. Where else would one go after such a trip? Along the way it encounters giant golden dragons, a menagerie of other Cartier animal baubles come to life and pioneering aviator Alberto Santos-Dumont, the first customer to commission the jeweler to make a wristwatch. It's a stunning example of state-of-the-art cinematic visual effects, and was obviously made by sparing no expense. The ball's in your court now, Tiffany.

It's not unusual for European luxury brands to make extended commercials that run as movie trailers overseas, or even during special events like the Oscars, but it is unusual for them to take out an entire block of commercials during a night of regular programming, or eally run even a condensed version of such an ad on American Television at all unless it is for a fragrance. In this case, it was a delightful surprise, and now it has hit the web, so click above as may times as you want (we highly recommend the HD/Fullscreen options if your bandwith allows). There are worse ways to spend three and a half minutes.

L'Odyssée de Cartier (Official Site)

SHINY THINGS: Elizabeth Taylor's Jewels Set Records And There's More To Come

Last night, the first auction of Elizabeth Taylor's estate at Christie's surprised nobody by setting a record for the largest auction of a private collection of jewels totalling a whopping $116 million. The previous record was held by The Duchess of Windsor's auction in 1987, and ironically, last night's auction included the Prince of Wales brooch which Taylor herself purchased. It went for $1,314,500, more than double a high estimate of $600,000. We don't yet know who purchased these items last night, and we may never unless some of them step forward to identify themselves.

Other standouts included some of the star's most famous jewelry pieces such as the La Peregrina necklace (at right), featuring a centuries-old natural drop shaped pearl that had been owned by kings. It went for $11,842,500, setting the record for a pearl jewel at auction. The bidding for this bauble took a scant four minutes, and it was the highest priced item at an auction of breathtakingly priced jewels. The huge, 33.19 carat flawless Elizabeth Taylor Diamond, also known at times as the Krupp Diamond, went for $8,818,500, more than doubling its high estimate, and proved that there is really no guessing what famous items owned by a superstar will go for at auction. An emerald and diamond necklace from Bulgari more than quadrupled its estimate at $6,130,500. A matching ring nearly increased its estimate tenfold going for $6,578,500. The bracelet nearly quadrupled at over $4 million, and on and on it went. Even items with relatively modest vlaues such as gold charm bracelets with almost no gemstones at all went for well over $100,000. Only a Vacheron Constantin diamond watch and an Art Deco multi-gem bracelet fell within their selling price estimates, and there was not a single item that was sold for under $100,000.

Of course, last night's auction was the Legendary Jewels that Taylor owned, only the first of five auctions of her possessions. Tonight will see the sale of her other jewels which could conceivably top her own record. Though last night offered the big, famous diamonds, tonight's sale features 190 lots, more than twice as many pieces whose values are sure to be inflated by their glamorous provenance.

Then there is also tonight's Haute Couture sale, and Thursday's auction of her other clothes and accessories which we are betting will set records for Hermès and Chanel handbags at auction. Finally on Friday, there's The Memorabila which should also bring prices that nobody can accurately predict. And on Saturday, The Online Auction will end.

We can expect the grand total of all the items to add several million more dollars including the artworks that will be sold at Christie's various painting auctions next year. The Van Gogh will easily go for a few million dollars by itself. At the very least, seeing how much money her possessions are auctioned off for will be as entertaining as some of her movies were (Maybe more. Did you ever see "These Old Broads?" Ugh.)

Elizabeth Taylor Diamonds Fetch Record Prices At Auction (Forbes)
The Collections of Elizabeth Taylor Auctions run through Friday, December 16th at Christie's
Previously:
Maximum Luxury Overload: In Which We Are Gobsmacked By The Staggering Elizabeth Taylor Auction Exhibition At Christie's

After the jump, a video of the auction from the Associated Press

YOUR WEEKEND ACTIVITIES: A Screen Goddess's Jewels Meet A Pedigreed Flea —UPDATED—

Since you should be getting your Holiday shopping started this weekend, there are two wildly different events happening that you won't want to miss. We can't guarantee that you will find any gifts, but at the very least, they should be extremely entertaining, and worth braving the crowds.

First, there's the long awaited return of The Pop-Up Flea, the annual showcase of artisanal and heritage menswear brands from A Continuous Lean's Michael Williams and UrbanDaddy's Randy Goldberg. It's a little later this year, and has moved north to NoHo at 159 Bleecker Street for one weekend only. We don't have an official line-up, though we are fairly sure that Shophound fave L.L.Bean Signature will have another display, making it the rare opportunity to shop this line in person in NYC. They and other participants often bring exclusive items just for the event that are unavailable anywhere else. Other labels that have appeared in the past have included Gitman Vintage, Alexander Olch, Billykirk, Gant Rugger, Schott and Riviera Club among others. If you know someone who is mad for classic American brands (and if you are at all hipsterish or even slightly hipster-adjacent, then you definitely do) pull on your Red Wings or your Wolverine 1000 Mile boots and get over there.It opens this afternoon at 3 PM with afternoon drinks, so get off work early.
UPDATE:
Click on the little image at right for a current roster of the Pop-Up Flea participants this season. There are a lot of the familiar booths with some familiar items, but newcomers include former J.Crew designer Todd Snyder's debut collection. Standouts to us included Isaora's striking garment-dyed down filled hoodies and Rancourt & Co.'s American made-boots and handsewn loafers. L.L.Bean Signature has shelves and shelves of their deluxe Bean Boots with canvas and Horween Chromexcel uppers which will likely go fast.

If your tastes run more toward the luxurious and opulent, then you may have heard that Christie's is opening it's exhibition of items belonging to Elizabeth Taylor this Saturday. The display runs through December 12th, and can be seen only by purchasing a time-specific ticket. We don't think we can overestimate the interest in this auction. Aside from the mind-boggling jewels (which are worth going out of your way to see by themselves), Taylor had amassed an incredible collection of Couture clothing from the world's most coveted labels over decades as well as some of her film costumes. Then there are other objects like Vuitton luggage, costume jewelry and all kinds of memorabilia that will be sold in a series of five separate auctions over four days. This is as big as this kind of thing gets. You know, like when a toothbrush sells for five figures. She was an extraordinary star with extraordinary stuff, and we wouldn't miss seeing it. If you can't make it this weekend, the exhibition will be up until December 12th, after which the auctions will start. Somebody, somewhere will be getting some incredible jewelry for Christmas this year.

The Pop-Up Flea 159 Bleecker Street at Thompson Street through Sunday December 4th, NoHo
The Collection of Elizabeth Taylor at Christie's 20 Rockefeller Plaza on 49th Street, Midtown

THE WINDOW WATCHER: Tiffany's Builds A Christmas Carousel

Fittingly, Tiffany & Co. has always been a model elegant understatement when it comes to window display, even at Christmas when its neighbors on Fifth Avenue pull out all the stops. Partly, this has to do with the store's little windows, meant to create little jewel boxes of wonder outside the imposing jewelry store.

Not this year.

The windows are still the same size, with displays that are as fanciful and masterfully composed as ever, but around the windows on Fifth Avenue and 57th Street, Tiffany has added what appears to be sections of an antique carousel in gold and signature Tiffany Blue.  Inside the store, the famous main floor is festooned with more traditional garlands and tinsel, but the store's visual team has added a gilded archway at the main entrance that echoes the scrolls and curlicues of the outside decorations. It's a striking look, especially if you are used to the store's usual, less flashy style, but, hey, it's the Holidays. Why not have a little bit of fun?

MIGRATING SOUTH: Ivanka Trump Trades Madison Avenue's Cachet For SoHo's Tourists

Yesterday we learned that Ivanka Trump was moving her recently opened jewelry store from a prime spot on Madison Avenue between 61^st and 62^nd Street all the way down to Mercer Street in SoHo. She will be taking over the long-running Duckie Brown for Florsheim pop-up shop between Prince and Spring Streets. While the SoHo store will be three times the size of her uptown digs, Trump has said that the move was made because "downtown is more simpatico with the energy of the brand."

Well, okay, but when a store is fleeing downtown from a stretch of Madison Avenue that has become celebrated for its concentration of prestigious international jewelers like Kwiat, Graff, David Yurman, Chopard, Pomellato, Ilias Lalaounis, Fred Leighton and Solange Azagury Partridge to name but a few that immediately come to mind, one has to wonder if Ms. Trump didn't realize that debuting her clebrity powered jewelry shop in the midst of established players might have been a tad ambitious? Most jewelers would dream of one day having their store in such a location, but Trump is not just a jeweler, exactly. She's a multitasking jewelry/shoe/handbag designer who probably doesn't know how set a stone in a ring, but can likely negotiate a licensing contract with the best of them. Her store will be subleased to Aaron Basha, a more established Madison Avenue presence, who will be relocating from his longtime store just across the street. Did the serious shoppers of Madison Avenue see Trump as an out-of-her-depth interloper trying to sneak onstage with the pros? It is possible that a certain type of luxury customer does not see so much prestige in the Trump name especially when Chanel is a few doors away, or maybe they just see right through it.

On the other hand, in SoHo, Trump will be on the same street where customers regularly form lines outside the UGG store at Holiday shopping time. So, yeah, totally different energy. There is also a Chanel store not far from Trump's upcoming SoHo location, but not one that sells its precious Haute Joaillerie gem collection. More importantly, the Kardashian sisters' Dash store is also nearby —another store that often hosts bewildering lines of anxious customer/fans. In fact, there are far fewer fine jewelry to be found in SoHo compared to her previous location, but there are a lot more tourists who are more likely to be dazzled by the famous name from TV than their uptown counterparts. Of course, a Trump would never admit to overreaching, or making a poor real estate judgement, but that's okay. If her store were really thriving on Madison Avenue, then she would simply be opening a second location in SoHo. Moving it altogether looks very much like a Plan B, and Ivanka Trump is fortunate to be able to afford one.

SoHo store is born for Ivanka Trump (NYPost via RACKED)

WATCH VIEW: Hublot's Latest Hits Madison Avenue

Click all images for a larger view in a new window

A few years ago, it seemed like international jewelers were taking over Madison Avenue all at once, as if in a coordinated effort to make a new diamond district. Now, the next wave is luxury watchmakers who are belatedly replicating their retail strategy in Europe of showcasing their full product ranges in their own boutique environments instead of relying on retailers like Tourneau or Wempe for exposure. The latest arrival is Swiss brand Hublot (say it like who-blow), whose shop opened this Spring. The Shophound loves watches, so there was no way we were going to pass up an invitation to have a look at the new store and be one of the first people in the U.S. to see see some of Hublot's latest offerings, just introduced at the Baselworld Watch Fair in Switzerland.

For the new store, Hublot turned to luxury retail's go-to architect Peter Marino, who created a sleek and intimate interior for the brand. What struck us first was the front display in which watches are mounted on a tabletop with magnifying screens that automatically pop up in front of them allowing approaching shoppers to examine the details. Not only innovative, the display came off to The Shophound as particularly gutsy, even for Madison Avenue. After all, where else have you seen jewelry or precious watches (as many as twelve pieces) displayed in open air rather than secured in cases?

Of course, the rest of Hublot's offerings are safely under glass. While so many luxury watchmakers are currently focused on their long heritages, Hublot is, in fact only about 30 years old, so its focus centers around combining the most traditional watchmaking (Hublot still manufactures its own movements exclusively) with the latest technology in materials. They have created what seems like infinite variations on a signature porthole style dial with a rubber strap in every shade of gold or anything from steel to carbon fiber to high tech ceramics or various combinations of the above. Sometimes festooned with diamonds or executed in a rugged diving style or with camouflage patterned details, the watches have been transmuted for almost any purpose from the grande complications that collectors covet to brightly colored fashion styles all the while retaining the brand's recognizable look. We looked at a lot of brand new styles, and some of our favorites included a rugged version in navy or olive that had a military look, and another style, the Big Bang Caviar,  that replicated the shape and texture of a diamond covered version in black or white ceramic, giving the watches an intriguing sculptural look (pictured above left).

We were also struck by the reasonable prices on many of Hublot's offerings. Well, okay, reasonable by Madison Avenue standards which means somewhere under $10,000 (and trust us, that's an opening price point in that neighborhood). So it's not exactly pin money, but it's less than a car or an Oscar de la Renta ballgown —something you could save up for... if you're really patient.

Hublot 692 Madison Avenue at 62nd Street, Upper East Side

CRISIS MANAGEMENT: More Japan Relief Efforts From Hublot and Forever 21

Here are some more companies making it easier for you to donate to relief efforts for the Japanese Earthquake/Tsunami/Nuclear disaster:

We have never been big boosters of Forever 21, but we would be remiss in not informing you that ALL of today's online sales will be entirely donated to Japanese relief efforts. The company does not yet specify which particular charities will benefit —they may not have decided yet— but it is a one-day-opportunity for March 18th only. Sites include forever21.com, canada.forever21.com, forever21.eu, forever21.com/uk, forever21.co.kr and forever21.co.jp.

Luxury watchmaker Hublot, which has just opened a new boutique on Madison Avenue, has created a special donation portal on its website which will benefit the Japanese Red Cross. Donations will be processed through Google Donation to ensure high security, but the real attraction here is that Hublot, which is owned by LVMH, will be matching all donations made through its site. That will stretch your donations all the further

We'll be keeping our eye out for more efforts. If your store or company is participating, please email us.

LVMH Takes Control Of Bulgari

You can't say that luxury giant LVMH doesn't have much on its plate what with the ongoing John Galliano/Dior upheaval and a dicey attempt to increase its stake in Hermès that is being fought bitterly by the controlling family. In a somewhat unexpected move, however, LVMH has taken control of the famed Italian jewelry brand Bulgari in an intriguing stock swap. As one more of the dwindling family owned luxury and fashion brands falls to corporate ownership, the deal leaves the Bulgari family as the second largest family shareholder in the entire luxury conglomerate behind only LVMH chief Bernard Arnault's clan. The family will now be entitled to seats on the LVMH corporate board while the group takes a strengthened position in the jewelry and watch world. The group's other watch and jewelry brands include TAG Heuer, Hublot, Chaumet, Zenith and Fred, and, presumably, Bulgari will become its leading nameplate in that sector.

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What will shoppers notice? If all goes well, nothing, but expect the luxury group to utilize its considerable synergies to put a renewed emphasis on Bulgari's fragrance, leathergoods and accessory lines.

LVMH Takes Control of Bulgari in Merger Deal (WWD)
Bulgari (Official Site)

YOUR WEEKEND PLANS: The Cooper-Hewitt's Treasure Trove Of Van Cleef & Arpels

Click all images by The Shophound and courtesy of the museum for a larger view in a new window

Taking a much needed break from Fashion week, The Shophound took yesterday morning off for a special preview of "Set In Style: The Jewelry of Van Cleef & Arpels", the exhibition opening today at The Smithsonian Cooper-Hewitt, National Design Museum. running through June 5^th. You don't have to simply be a jewelry fan to appreciate the more than 350 dazzling works on view throughout the museum's ground floor. While there are plenty of sparkly treats for the eye, the exhibition also focuses on the legendary jeweler's technological advances and groups the objects by themes including Innovation, Transformation, Nature, Exoticism, Fashion and, of course the famous Personalities who have been prominent customers over the past century. Extensive materials from the firm's vast archive such as orders and sketches help to give context to remarkable pieces such as an iconic "zipper" necklace that converts into a bracelet (at left) which was originally commissioned by the Duchess of Windsor and took nearly 20 years to perfect.

The exhibition is something of an innovation itself, however featuring special magnifying displays as well as a holographic presentation that allows the painstaking workmanship of some tiny pieces to be viewed three-dimensionally. A Special Order book from 1938 is reproduced digitally, to be perused through a touch screen. There are informative videos throughout the installation, but most striking is a special iPad app as elegant as anything in the show. It allows visitors to access additional content on the objects as they browse. The free app should be available in a couple of weeks from the iTunes Store, but for those of us who remain without a personal iPad (and there are still plenty of us), the museum has 50 of them that visitors can borrow while inside the exhibition.

But all of this tech simply support the main attraction which is a ton of gorgeous baubles to marvel at. The show makes the point that unlike many famous jewelers, Van Cleef & Arpels as a design force is less about great big diamonds than using gemstones as an element of extraordinary design. Designer Patrick Jouin of the firm Jouin Manku used the Cooper Hewitt's own opulent home as an inspiration for the exhibition design, with a long table set with jewels in the dining room, and a vitrine of flying enameled butterfly brooches in the conservatory. The exhibition ends with choice items from its most famous clients, from early supporters like Daisy Fellowes and Florence Jay Gould to Jacqueline Kennedy Onassis, Eva Perón, Marlene Dietrich and, of course, Elizabeth Taylor (pictured above), culminating in the engagement and wedding jewels presented to Grace Kelly as she became H.S.H. Princess Grace of Monaco. Jouin managed to keep the show from feeling like a jewelry store, or maybe he just made it like the best jewelry store ever.

After taking in the show, The Shophound retired to a press tent for refreshments that nearly rivaled the exhibition itself in its lavishness. It turns out it was doing double duty after hosting the museum's gala the night before, and as we left we were presented with a copy of the exhibition's sumptuous catalog which, even if you can't get to the Cooper Hewitt, will be a must-have for serious jewelry customers and fans alike.

Set In Style: The Jewelry of Van Cleef & Arpels through June 5^th at the Smithsonian Cooper Hewitt National Design Museum, 2 East 91^st Street at Fifth Avenue, Upper East Side