Calista Sourcing Club

Five questions to:  Frederic de Narp about sustainable luxury

February 15, 2022

Frederic is the Co-Founding Partner & CEO of Luximpact with extensive growth and turnaround experience in High-end Jewelry and Luxury.
Spending 19 years at Cartier, Frederic has been the CEO of Cartier North America where he launched the acclaimed  ‘Love’ campaign, embarking 24 celebrities as brand Ambassadors and promoting Love, Commitment and Passion for a cause.
President and CEO of Harry Winston in 2010, Frederic created the Harry Winston Hope Foundation supporting education and orchestrated the turnaround of the Brand, doubling sales in 3 years and culminating in the sale of Harry Winston to the Swatch Group for 25 times the Ebitda.

Why you moved to this part of the market
The high jewellery category carries values of timelessness and promotion of the beauty of creation; natural and Human creation. Most of the time a piece of jewellery is gifted to celebrate a meaningful moment of Life.
I have started working in Jewellery by passion and for those values. As a Veteran of the industry, I feel it is our responsibility to face and address the crucial issues of the world and promote a new consumption and stop deteriorating the planet.

Why lab grown diamonds are important
Lab grown diamonds are the fruit of the human genius. It took engineers, more than 70 years of research on diamonds to give birth to Diamonds that are now of the highest quality. Lab grown diamonds of quality are extremely rare. Last year, only 6 million carats of LGD have been produced while more than 140 million carats of natural diamonds have been extracted. We are aiming at using only LGD that are Carbon or Climate neutral.

Where do you see the market going in the next 5 years
The market of LGD is exploding in the USA. Europe, which is much more conservative is only starting to adopt LGD. It is also true that Vever as well as Oscar Massin are the first Heritage brands using LGD in the world. Our jewellery pieces that are made of only recycled Gold and best LGD correspond to the request of a new generation that requires fully sustainable products with a full transparency.
The branded Luxury Jewellery category has had the best growth rate the last 10 years (around 10% Cagr) and is expected to keep the same booming rate the next 10 years. There is therefore room for enormous growth for Mined diamonds and all the space for the new LGD category as well.

Key statistical figures for circular jewellery, stones and lab grown gems
A few figures on our jewellery industry:
-The total sales of branded fine jewellery was 28 billion euros in 2020 and is expected to reach 45 billion euros in 2026.
-The eco-jewellery category that represented only 430 million euros in 2020 is expected to reach 3.8 billion by 2026 with a 55% CAGR.
The LGD jewellery which represents only 5% of the total Diamond jewellery sales registers a growth that is estimated at nearly 20% a year.

Future opportunities for Luximpact
Luximpact is a pioneer and covers all touch points concerning an ethical and sustainable jewellery in the Luxury industry. In joint venture with Camille and Damien Vever, Luximpact has contributed to the relaunch of the first “Entreprise a Mission” in the Jewellery industry. Luximpact is now relaunching the Diamond reformer Oscar Massin, becoming the first Luxury brand entering the LGD category in the booming American market.
Our next big project will be to tackle the Circularity using only vintage gemstones….more to come ! There is no limit to the possible international expansion of each of those Maisons. They have an historic DNA, savoir faire and heritage with renewed codes and values using best innovative materials and artistry, with full transparency.

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