Mauboussin: The French Jeweler Democratizing Luxury
As it approaches its bicentenary, the iconic French jeweler Mauboussin is redefining accessibility in high-end jewelry, achieving significant commercial success.
Mauboussin, a historical French jewelry house, is poised to celebrate its 200th anniversary in 2027 and continues to implement its vision of making precious jewelry accessible to a wider audience.
The recent release of three special collections for Mother’s Day has sparked immediate interest, featuring rings named 'Irrésistibles et délicieuses' and 'Belle comme le vent', along with a pendant dubbed '1955'.
Founded in 1827 by Monsieur Rocher, Mauboussin began its journey in a small workshop on Rue Greneta in Paris during a politically conservative era.
Now, approaching its bicentennial, Mauboussin reported revenues of €89 million and has established itself through iconic stores in key locations such as Rue de la Paix, Champs-Élysées, and Saint-Tropez.
Beyond France, the brand has extended its presence globally with locations in Japan, Singapore, Luxembourg, Morocco, and Portugal, maintaining a recognizable image characterized by its star-shaped logo.
Alain Némarq, who assumed leadership in 2002, has been a driving force behind the brand's success, promoting a strategy to demystify the luxury jewelry sector traditionally reserved for the affluent.
Némarq's vision involves targeting a broader clientele, focusing particularly on younger, urban consumers.
An example of this approach is the introduction of a gold ring adorned with diamonds or sapphires priced below €800.
According to Némarq, 'We have made a clear choice: to make jewelry accessible.
This is not just a marketing stance, but a conviction reflected in our minimalist and non-extravagant collections.' The brand has attracted a younger demographic with its aggressive pricing and marketing strategies.
Recent collections feature items priced between €400 and €900, alongside the newly launched '1827' watch, which is advertised through Paris Metro displays.
Priced at €1,305, the watch is designed with high-quality materials and a mechanism akin to those found in luxury watches.
Némarq reported that within five days, 10% of the 1,000 units released had sold out, indicating the model's high demand.
Alongside innovative product offerings, Mauboussin has restructured its distribution network.
In addition to its historic boutiques, the brand has expanded its presence in department stores, illustrated by a significant partnership established in 2019 with Galeries Lafayette, which involved a majority stake acquisition by the department store group.
This strategy aims to balance growth and expansion while preserving the brand’s French and European roots, maintaining a production base that avoids outsourcing.
All jewelry is designed in Paris and crafted in workshops located in France, Italy, or Portugal, enhancing creative proximity.
The brand has also developed iconic collections over the years, such as 'Chance of Love', launched in 2004, which features a ring made of gold with an eternal diamond, and has sold over 180,000 units.
Other successful designs include 'Le premier jour', consisting of three subtly beaded rings, and 'W', which together have sold tens of thousands of units since their respective releases.
Expanding its already extensive network, Mauboussin plans to open approximately 20 new stores across France, with the goal of establishing 100 boutiques by 2025. Upcoming locations include Nîmes, La Rochelle, and Biarritz.
The brand is also enhancing its online strategies, indicating plans for customers to order jewelry for in-store pickup, contributing to an online share of 15% of its business, reflective of a significant growth opportunity.
Looking forward, Mauboussin aims to increase its revenue to around €130 million in the next four years, with plans for further diversification into leather goods, including wallets and handbags priced between €100 and €300.
Némarq noted that this has only just begun, following a successful track record of innovation and growth.
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