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Online Luxury Retailer Launches Jewelry Portal, Targets $120M+ in Sales

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It will feature Tiffany, Cartier and other brands.

Yoox Net-A-Porter Group, an online luxury fashion retailer, has launched its first dedicated online destination for fine jewelry and luxury watches.

The destination, part of Net-A-Porter’s website, features products from more than 40 brands, including Piaget, Cartier, Pomellato, Tiffany & Co. and Buccellati. Select items are priced at over 100,000 euros (US $123,410).

The Milan, Italy-based company said in a press release that fine jewelry and watches are “a key part of YNAP’s five-year strategy to grow its high-end luxury category in response to strong customer demand.”

“Fine jewelry and watches are the perfect complement to high fashion and the category is expected to create an opportunity for sales of 100 million euros [US $123.4 million] by 2020 for YNAP,” said Federico Marchetti, CEO of YNAP. “We surprised the sector by introducing this successful category, and the potential of our online platforms for branded jewelry and luxury watches is huge.”

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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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