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The rapidly developing economies led by China, India and Russia, are making the folks at jeweler Cartier salivate with even grander plans to promote themselves as the world's premier jewelers. They have unveiled bobbles and bangles suitable only for the super wealthy. In the past, this might have been the territory of the U.S., Western Europe, Japan and the Middle East. But the game has changed.
- Cartier is not the first luxury house to look east. A Japanese or Chinese aesthetic has starred in collections from Giorgio Armani to Aquascutum, while the craze for embroidery and pattern filling runways owes a debt to India. ... The reasoning is clear: the wealth of the world's richest people -- who have at least $1 billion ready to invest -- rose to $32.7 trillion last year, up 11.4 percent, with China and India leading the way, the latest Merrill Lynch Cap Gemini World Wealth Report showed.
Talk about an exclusive niche. In catering to the jet set, Cartier does not anticipate that it will be too concerned with the possibility of a world recession. Oh, that doesn't mean Cartier won't be upset if a recession drives down the stock portfolios and trust funds of the high powered industrialists and the associated idle rich. However, when it comes to their toys, don't expect a slow-down.
- "What rich people want is real luxury and that's the art of being unique. If you buy a handbag, there are thousands that are exactly the same. But you are the only one when you buy this," Fornas said, holding to the light a 1.6 million euro "Tutti Frutti" necklace glinting with diamonds, and red and green gems.
I will not hold my breath waiting for an invitation to browse through Cartier's latest "novelties," given the few people that have the ability to travel in these highbrow circles. Besides, jewelery does nothing for me, and I'm still investing and saving towards the purchase of my own island. Mr. Branson, how much do you want for yours?
To find potential opportunities and verify my track record read Chasing Value or Serious Money.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He is on the advisory board of Internet start-up CircleBuilder.com.
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