Luxury giant Louis Vuitton, already a global powerhouse, is expanding its horizons by unveiling its inaugural fine jewelry collection targeted primarily at men, tapping into the burgeoning demand in this evolving market.
Francesca Amfitheatrof, the artistic director for watches and jewelry at Louis Vuitton, expressed enthusiasm for the shift, noting, “Men used to wear a lot of jewelry, and it’s now finally turning around. Men are much more adventurous and interested in jewelry.”
This move comes as the market for men’s luxury fine jewelry gains traction, estimated at around $7.3 billion in 2023 by Euromonitor, though still eclipsed by the $44 billion women’s luxury fine jewelry market. Notably, the annual growth rate for men’s jewelry stands at 7.3 percent, outpacing the 4.6 percent growth in the women’s segment, according to Euromonitor’s latest estimates.
Celebrities, including Barry Keoghan, Charles Melton, Timothée Chalamet, Jared Leto, and Jon Batiste, showcased their affinity for men’s jewelry at the recent Golden Globes, underlining the growing trend.
Louis Vuitton’s strategic focus on hard luxury, evident through the acquisition of Tiffany in 2020 for $15.8 billion and the recent appointment of Frédéric Arnault as CEO of LVMH watches, aligns with the broader industry trend. The watches and jewelry division, incorporating Tiffany and Bulgari, reported a robust €10.6 billion in 2022, reflecting a 12 percent YoY increase. Simultaneously, fashion brands like Louis Vuitton and Dior have solidified their commitment to jewelry, with Louis Vuitton unveiling its largest high jewelry collection in 2023.
The newly introduced 18-piece men’s fine jewelry collection by Louis Vuitton ranges from €1,900 for a trunk stud earring to approximately €145,000 for a “masterpiece” necklace in white gold and diamonds. The collection, named Les Gastons Vuitton, pays homage to Gaston-Louis Vuitton, the grandson of the brand’s founder, known for infusing playfulness and lightness into the maison.
Francesca Amfitheatrof emphasized the collection’s inclusivity, stating, “I was briefed to do a men’s collection, but I felt like having to distinguish collections by gender feels a little old-fashioned.” She highlights the scale and size elements designed for men but also suitable for women, echoing her earlier success with LV Volt, Louis Vuitton’s 2020 unisex line of fine jewelry.
Experimentation with materials is a notable feature of this men’s collection, with Amfitheatrof citing the use of titanium, a tough and dense metal commonly found in aerospace applications. The incorporation of the iconic Louis Vuitton monogram and trunk elements adds a historical touch, demonstrating the brand’s ability to adapt and innovate.
As a brand entrenched in numerous categories, Louis Vuitton’s foray into men’s jewelry aligns seamlessly with its diverse product portfolio, spanning from furniture to chocolate. Amfitheatrof is optimistic about the collection’s potential, stating, “Louis Vuitton has the relevance, firepower, and long-term approach to boost the interest of consumers for a nascent product category like men’s jewelry.”
Mario Ortelli, Managing Director of luxury strategy advisory Ortelli and Co., shares this optimism, predicting that luxury men’s jewelry, while smaller than its women’s counterpart, could become a significant business. He emphasizes the role of brands like Louis Vuitton in experimenting with new materials and foresees their relevance competing with traditional hard luxury brands in the men’s jewelry landscape.
