LV’s steps up jewellery push with Paris store

The shift to jewelry allows the French brand - best known for authentic Louis Vuitton Cluth handbags and dresses head designer Marc Jacobs - to capture a market that some consultants believe that the segments growfaster value of the premium.
"The store and workshop is a milestone, a landmark decision, indicating that to look forward with optimism," said Hamdi Chatti, director of jewelry and watches from Louis Vuitton Cosmic Blossom .
The global jewelery market is worth 40 million euros (50.76 billion), the strategy consultancy Roland Berger suggests. A recent study by Bain indicates that the Louis Vuitton Artsy market could grow 10 percent annually through 2014, faster than the clothes or perfume and cosmetics.
The new Parisian store sell two mid-range items, as little as € 650 ($ 820), sapphire and diamond-encrusted necklaces and rings that sell for millions.
Richemont, as Van Cleef & Arpels, Louis Vuitton Cruise 2011 will design high-end jewelry at the scene, in a series of collections and what parts to order.
"I do not think his ambition is to compete with Cartier, in itself," said Thomas Mesmin, an analyst at CA Cheuvreux. "You only have to maintain the image of a world of luxury leather handbags from Louis Vuitton Epi is active in all product categories."
A spokeswoman for Louis Vuitton, said: "Our vision is to open new stores of jewels and watches in major international capitals.