Anita Ko Jewelry’s Post

Is expensive really worth it ? Recent investigations have revealed that luxury brands like Dior and Giorgio Armani pay significantly low production costs for their high-end handbags. Dior, for example, pays just $57 to make a handbag that retails for about $2,800. These investigations have also uncovered poor working conditions at the subcontracted factories producing these bags. Key observations : 1. Low Production Costs: Dior pays $57 for a handbag that sells for $2,800, while Giorgio Armani pays $99 for bags sold at over $1,900. 2. Subcontracting Issues: Both brands subcontract production to Chinese-owned firms, where workers face poor conditions, including long hours and unsafe working environments. 3. Worker Exploitation: Investigations found that workers were forced to sleep in factories and safety devices were removed from machinery to speed up production. 4. Ethical Concerns: These practices have led to ethical concerns regarding the treatment of workers and the oversight of supply chains by luxury brands. 5. Judicial Actions: Some units of these companies have been placed under court administration for one year due to these violations, highlighting the need for better labor practices and transparency. https://lnkd.in/ggWXeAF8

Happy to see my colleague Jill sharing solid advice for someone interested in a jewelry- auction career. I would add three things - and I think she would completely agree with me. 1. Prepare yourself mentally to deal with the excitement of auction day it’s a thrilling, fulfilling, and addictive experience. 2. Build and maintain your relationships. Colleagues, clients, friends, and family. They are your foundation for success. 3. Be empathetic, you’re dealing with people’s lives! Memories, celebrations anniversaries, etc, approach each situation with maturity and sensitivity. It’s not “just”jewelry.

The headline events taking place this week are without doubt the Las Vegas shows. Many view the Las Vegas jewelry week as the highlight of the year as it is the prime opportunity to network, source goods, learn, and get a sense of what is happening in the US market. The US forms the backbone of the diamond industry as it accounts for over half of global diamond jewelry sales. But it has been under pressure of late, as consumer spending has shifted back to the experience economy, lab-grown diamonds have taken some market share, and retail jewelers are managing with lower inventory. Polished diamond imports to the US fell 19% in 2023 and by 22% in the first quarter of 2024.  That said, it seems that jewelry retail is running at single digit percentage points below last year. While I, unfortunately, won’t be in Las Vegas this year, I’ll primarily be listening out for messages about mood and sentiment. That’s generally what I try to sense when roaming the halls and attending the excellent education seminars at the JCK show. Here’s wishing everyone attending a successful show. I look forward to hearing all about it. These are the events that I’m keeping an eye on in the coming week: ·       Christie's Hong Kong Magnificent Jewels sale: May 27 ·       The COUTURE Show: May 29 to June 2 ·       JOGS International Exhibits, LLC Gem and Jewelry: May 30 to June 2 ·       The International Watch and Jewelry Guild show: May 27 to 28 ·       JCK Luxury: May 29 to June 3 ·       JCK Las Vegas: May 31 to June 3

Attention luxury asset holders and financial advisors: Today, we've released an comprehensive guide on how to efficiently liquidate Gucci jewelry assets. This resource is invaluable for: • Individuals managing high-value estates • Financial planners advising clients on asset liquidation • Collectors looking to optimize their portfolio Our guide covers: 1. Accurate valuation techniques for Gucci pieces 2. Market trends affecting luxury jewelry resale 3. Strategies for attracting premium buyers Understanding the nuances of the luxury resale market is crucial for maximizing returns. Don't miss this opportunity to enhance your knowledge and provide superior service to your clients. Explore the guide: https://lnkd.in/e48PDVNa #LuxuryAssets #FinancialPlanning #GucciJewelry #WealthManagement

Disconected ESG value chains. Big brands profit above ethics and human decency. "Go with who you are and what you have" #lagertha #ESG #BoldLead #identity

Alexis Dumas stating the Hermès "hard luxury" mystique: "Hermès is costly, not expensive." The built-in care to make products "properly" results in "honest" high prices. Saving production costs and care will betray the customer who pays a high sum for an item. Even details that the customer will never be able to see and appreciate are made properly because that is how it's made. This is exactly what I have heard different people at Hermès say some years ago, and it is deeply anchored in the genes of the brand that relies on their own production workshops and has secured a network of faithful suppliers. An attitude more centered on one's own competences rather than what the "market" may expect is a very powerful way of conceiving luxury goods!

Birkin bags, which retail for around $9,000 and can fetch upwards of hundreds of thousands at auction, are not expensive, Hermès artistic director Pierre-Alexis Dumas told 60 Minutes. He instead uses the word "costly" to describe the coveted handbags — and he sees a difference between costly and expensive purchases. Cost is the price of making a quality luxury bag properly, even if it leaves customers waiting years for a chance to own one. Expensive objects, on the other hand, fail to deliver what customers want. The difference between the two is why clients need to be patient, Dumas says. "We're about craft, we're not machines," he said. "And we are not compromising on the quality of the way we make the bags." https://lnkd.in/eEk_qBzT #hermes #craft #60Minutes #luxurybrand

What kind of analysis do accountants do when shopping for clothes? Find out in this Accounting Couture video. There is no need to go to the mall when Accounting Couture has all the accounting gear you could ever need. 😉 #shopping #accountingandaccountants #financeandaccounting

This (kind of pricing) is valid for ANY product or service with a significant intellectual property component. And there is nothing wrong with that! Whether it is a chip from NVidia, a SAAS subscription, or a luxury item. You are paying for intellectual property, the brand, and relatively unique value. So long as LVMH or Dior can command such market value, the pricing will be justified—or Apple or Nvidea, Oracle, Microsoft, Google Ads, etc. Cost plus pricing is only for products and services that have become commoditized and have a low intellectual property component. Software services, for example, constructing a bridge/road/highway or the electrician or plumber who comes to your home. A handbag is a commodity. An LVMH-designed and marketed handbag is definitely not! It does not matter whether you sell something that costs you only ₹100 to buy or produce for ₹130 or ₹1000 or ₹10,000. The market determines the price. Your cost does not. The market may not buy it even at ₹50 if it doesn’t see value. And as for price gouging by monopolies or items of public necessity etc., there is regulation in almost all countries to police it. To ensure that markets function within acceptable boundaries.