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Dolce Gabbana has been quietly building its high jewellery and watch businesses for more than 10 years, but its most recent collection — featuring a necklace adorned with a 100-carat yellow diamond and white diamonds — was its loudest yet. The show-stopping piece presented at the latest Dolce Gabbana Alta Moda, Alta Gioielleria e Alta Orologeria show in Puglia is a symbol of how grand the Italian fashion house’s jewellery ambitions are.
The Alta Moda event has long been used to debut couture alongside high jewellery and watches. Jewellery has come more centre stage this year. Clients attending the brand’s week-long extravaganza were given a book written by former British Vogue jewellery editor Carol Woolton chronicling 10 years of high jewellery creations which, according to the author, have made the designer duo “jewellery anarchists” for their unique approach to the craft.
“When we started thinking about how to make our dream of Alta Moda come true, we immediately realised that, just as the clothes had to be unique, so too should the jewellery,” says Domenico Dolce. “Our customers wanted something to feel truly special, something that had a story to tell and that was the result of the best expression of our creativity translated into objects to be treasured and handed down; the step towards Alta Gioielleria was a natural one,” he adds.
Dolce Gabbana — now approaching 40 years in business with revenues close to $2 billion, according to estimates from consultancy Bernstein — is using high jewellery to establish itself as the “absolute luxury” brand, says Bernstein senior analyst Luca Solca. The segment is also strengthening the brand’s position in the $280 billion jewellery market, per data from consultancy McKinsey, which also estimates that 80 per cent of the market is unbranded, i.e. made by businesses that do not trade as brands. This has attracted new players such as Armani, Prada, Balmain, Saint Laurent and more recently Fendi, which has presented its first high jewellery collection during couture week in Paris, following a capsule collection introduced last year.
Dolce Gabbana’s first move was to expand its own workshop several years ago in Legnano, Italy, about 20 kilometres north of Milan, which already worked on the brand’s fine jewellery collections, to include high jewellery experts. The investment in a brand-owned workshop sets Dolce Gabbana apart; most brands at least initially work with Italian ateliers Valenza, Vincenza and Arezzo to produce on their behalf. The atelier now employs about 60 people.
The Legnano workshop is “a statement of high ambitions”, says Solca, and while it’s a big investment, it makes for a more distinctive jewellery offering.
Italian traditions in jewellery making, such as the art of filigree, the use of carved corals, micro-mosaics, ancient coins and objets trouvés, are at the heart of every Dolce Gabbana collection. These elements not only forge idiosyncratic aesthetics but also release pressure on the fierce competition for gems. According to the former CEO of Louis Vuitton, Michael Burke, entering the high jewellery business is a complex task and gaining access to the trade of precious gemstones is one of the biggest hurdles.
“We knew we were entering a world dominated by giants, and we, too, took our first steps with respect and admiration. Today our jewels have their own specificity, their recognisable character, not only in terms of creativity but also for the careful materials we select and for technical innovations that we have managed to introduce,” says Alfonso Dolce, CEO of Dolce Gabbana.
“We are fortunate to live in a country that has an incredible artistic and cultural heritage, and we are proud to be able to give light, with our work, to the master craftsmen who, even today, represent excellence,” says Stefano Gabbana about the brand’s focus on reviving traditional jewellery-making techniques from their home country.
Choosing to open the brand’s first jewellery store in Milan is in line with the brand’s strategy to strengthen its Italian identity. In April, Dolce Gabbana opened a specialty jewellery and watches flagship store in Via della Spiga in Milan — the next nod of credibility for the brand as a pure player in the space. Gucci’s entrance into high jewellery in 2019 was accompanied by the opening of a store on Place Vendôme, considered the world’s epicentre of jewellery, where Chanel and Dior have dedicated watch and jewellery stores, too.
Dolce Gabbana’s atelier in Legnano is also responsible for designing the house’s timepieces, which were introduced in 2012 at the same time as Alta Moda and Alta Gioielleria. The first one-of-a-kind timepieces, akin to a high jewellery piece, followed in 2017.
“Dolce Gabbana has obviously chosen to learn all the trade and go for a step-by-step integration of know-how,” says Oliver Müller, founder of LuxeConsult, a watch consultancy based near Lausanne, Switzerland, and one of the authors of the Morgan Stanley’s Watch Report. “It costs a lot of money and requires a long-term strategy, but if you are in the game for the long run and targeting a watch-making credibility, then it’s worthwhile going all the way,” he adds.
Müller compares Dolce Gabbana’s approach to that of Chanel, Hermès and Louis Vuitton, which have entered the watch-making business by acquiring manufacturers, which lends brands “the value perception and credibility needed to sell at a certain price point”, he says. In contrast to such an approach, Armani decided to partner with watchmaker Parmigiani Fleurier for its first high-end watch at the end of last year. “It makes the whole process easier, but at the same time, you don’t acquire the skills and knowledge needed to roll-out a long-term strategy of becoming a real watch brand,” says Müller.
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