US growth potential for Van Cleef & Arpels

Fine jeweller Van Cleef & Arpels has turned 100 this year, yet the company still has a great deal of growth potential. "In a recent study we looked at, the brand has awareness of slightly below 20 percent in the US in comparison to other fine jewellery houses," Emmanuel Perrin, president and chief executive in North America, told WWD. "When you see that figure, you can view it as much as a liability as an asset. I myself see it as an asset, because it means there's that much more potential for growth." Perrin, who has held various positions within Van Cleef's parent company Compagnie Financière Richemont, is focusing on product development and image to boost the brand's presence in the US . Herein lies the challenge of remaining exclusive while appealing to a broader target group of wealthy customers. According to Perrin, that balance has been struck with the introduction of three centennial celebration collections over the next couple of months. The very exclusive first collection, Trésor Révélés, consists of archive pieces which have never before been produced due to lack of technical advancement and will retail for between $185,000 and $3.5 million. The second collection, the Centennial Alhambra Collection, will retail for between $1,300 and $11,900 - the company's most accessible range to date. "The collection is young and playful and very iconic," said Perrin. "It shows that we can have fun with the jewellery and increase the accessibility of Van Cleef while still creating the quality that we are known for. The challenge will be to remain careful in our approach to our growth because the brand is a gem of its own, and we want it to remain selective."

Perrin also plans to expand the brand's US presence through retail and wholesale expansion, with the opening of one to two stores a year for the next three to five years. The focus will be on cities where the brand has little presence, like Las Vegas , Dallas and Atlanta . According to industry reports, the brand generates $200 million annually, although Perrin said this was a low estimate.