Glittering third quarter tipped for jewellery firm

As the stars lined up for the 70th Annual Golden Globes Awards, the glittering jewels adorning the necks and ear lobes of Hollywood's A-listers came courtesy of the most expensive brands on the planet.

Actresses Catherine Zeta Jones, Sienna Miller and Isla Fisher and singer Adele were bedecked in exquisite pieces from Cartier and Van Cleef & Arpels.

The parent company of these brands will reveal overnight just how booming expensive jewellery is in its results. Swiss-based Richemont is expected to report an 11 per cent jump in third-quarter sales.

Luxury goods groups that have traditionally focused on other products are also looking to get in on the action. Last week Swatch snapped up the jewellery arm of Marilyn Monroe-favourite Harry Winston in a deal worth more than £600 million ($1.14 billion).

John Guy, an analyst at Berenberg Bank, said the move is a positive strategic step that will help Swatch expand its "footprint in prestige jewellery as well as into the Americas".

Monroe may have sung that diamonds are a girl's best friend, but other, lesser known gems are starting to become very good mates indeed. Morganite, from the colourful beryl family of gemstones that include emeralds, and labradorite, which is said to promote psychic abilities, are two emerging rocks.

- Independent

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