Editor’s Note
In a strategic response to market headwinds, Piaget’s latest high jewellery collection in Barcelona underscores how luxury brands are doubling down on their unique heritage to create value and distinction.
The Swiss luxury watchmaker and jeweller Piaget unveiled a bold new high jewellery collection, titled ‘Shapes of Extraleganza’, in the Spanish coastal city of Barcelona. The move is part of the brand’s strategy to leverage its vibrant heritage to navigate the current downturn in the luxury watch sector.
The event evoked the spirit of the 1970s “Piaget Society,” a circle of jet-setter friends and clients like Andy Warhol and Salvador Dalí cultivated by fourth-generation family member Yves Piaget. Brand ambassadors and celebrities gathered for a gala dinner at the Seminari Conciliar de Barcelona.
High jewellery is central to Piaget’s strategy, especially as Swiss wristwatch exports fell 9.7% in May. Piaget CEO Benjamin Comar highlights its resilience.
He cites the Middle East, Korea, Vietnam, Thailand, Australia, Europe, and the US as dynamic markets. This segment allows Piaget to stand out with its bold aesthetic, a crucial advantage given its smaller marketing scale compared to giants like Cartier.
The choice of Catalonia, Spain, was driven by the venue: an architectural masterpiece by Catalan artist Xavier Corberó. Comar explains the appeal.
The event aligns with a trend of luxury brands choosing Spain for high jewellery showcases.
Approximately 100 clients flew in to view about 50 new pieces. Highlights included:
• The Kaleidoscope necklace (€1.08 million), featuring mixed stones and a pear-shaped diamond.
• The Wave Illusion necklace (€1.13 million), with a red spinel and an orange-pink spinel.
• The Flowing Curves necklace (€1 million), with a blue sapphire and black opals.
Several pieces, including Kaleidoscope and Wave Illusion, were sold on the first day.
Upon becoming CEO in 2021, Benjamin Comar tasked creative director Stéphanie Sivrière to delve into the brand’s archives, particularly the extravagant 1970s era of the French and Italian Riviera. A key inspiration was the 1969 ‘XXIe’ collection.
The new collection continues this synergy with pieces like the Swinging Sautoir watch-cum-necklace. Comar emphasizes, “We’ve got watchmaking and jewellery under the same roof — they talk to each other.”
Founded in 1874 and launching jewellery in 1959, Piaget was acquired by Richemont in 1988. While sales in Richemont’s specialist watchmakers division fell 13% in fiscal 2025, Piaget’s dual focus on watches and jewellery provides a relative advantage in the challenging market.
