Silver with Diamond Category Increasingly Important
(Washington, D.C. – January 23, 2013) Sterling silver jewelry sales continued their strong performance during the recent Holiday Season, according to industry observers and early retail sales surveys. Retailers across the country reported to Jewelers Circular Keystone that “Sterling silver was the shining star of the Holiday Season in all types of pieces and increasingly higher price points.” In a separate report, Liz Chatelain, President of MVI Marketing, said, “The silver with diamond category has now grown into a full-blown category to which every major retailer is committing shelf space and marketing budgets.”
“Silver fits a very big market,” said Michael DiRienzo, Executive Director of the Washington, D.C. based Silver Institute. “It’s apparent that consumers enjoy silver and are drawn to the exquisite work some of the best designers are producing,” he said.
According to Amanda Gizzi, Director of Communications at Jewelers of America, “Many designers are using silver, and the range of silver jewelry is broadening. People are getting comfortable with sterling being part of a fine jewelry collection.”
“Detail and intricacies in silver are in line with what we’re seeing within fine jewelry in general, this year – fine textures and super feminine and floral designs…as well as geometric shapes and open cuffs with squares and maze patterns. We are seeing it more in silver than anything else. Another ongoing trend is the use of diamonds, pearls and gemstones in sterling silver designs,” Gizzi said.
Michael Barlerin, Director of the Silver Promotion Service (SPS), a division of the Silver Institute, noted that branded silver jewelry has become an increasingly important segment of retail jewelry sales in recent years. He commented, “During the recent 24 Karat Club Dinner in New York, I had the opportunity to talk to eight of our SPS Savor Silver Partners and all had exceptionally strong seasons. I look forward to seeing the results of our forthcoming Nielsen/National Jeweler survey, to be fielded in coming weeks, which will quantify the overall results.”
Increasingly, silver jewelry is used throughout the fashion industry to enhance its contemporary designs. Designers such as Elsa Peretti, who works largely in silver, has said, “Style is to be simple.” This explains in part why her fluid and seamless sterling silver creations for Tiffany & Co.—which include apples, beans, hearts, shells, and teardrops—have remained best sellers since she began designing them 30 years ago.
With continuing consumer demand for exciting new designs, designers are finding that silver offers them more freedom to create more elaborate pieces while keeping the price points at a reasonable level.
Centuries after the first silver jewelry was produced, today’s designers, manufacturers and consumers alike have found few if any materials better suited for jewelry than silver.
Established in 1971, the Silver Institute serves as the industry’s voice in increasing public understanding of the many uses and values of silver. For more details about the appeal of silver jewelry, visit the Silver Institute’s website at: www.silverinstitute.org or the Silver Promotion Service at www.savorsilver.com.
Contact:
Michael DiRienzo
The Silver Institute
Tel: +1 202-495-4030
e-mail: mdirienzo@silverinstitute.org
Media:
Victor Webb
Marston Webb International
Tel: +1 212-684-6601
e-mail: marwebint@cs.com
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