As Damiani looks ahead to celebrate its milestone 100th anniversary, its CEO Jerome Favier focuses on the importance of heritage and authenticity for the jewellery industry in a fast-changing world that has lost its point of reference.

And the Italian family-run Damiani Group – a private company – is providing just that, says the man who has headed it for the last five years, hand in hand with its third-generation owners.

Redefining the luxury industry, Favier explains that Damiani is not about that. It is about “luxury authenticity”.

This is a core value of the origin of luxury itself, Favier says, harking back to the Belle Époque period that heralded Damiani’s foundation.

Created in 1924 in Italy’s high-end goldsmith district, Valenza, Damiani has been able to stick to these original values because the Group is no longer listed and is free to operate in a way that does not only seek results.

Being one of the few private jewellery houses in the industry means not being driven by the market and being able to “follow our hearts”, the CEO states.

“In luxury, you cannot be stressed; you must be yourself and true to the customer."

The Damiani family “embodies” their brand, and every single move is signed off by their name, he says of the responsibility this entails and the lure it presented him to join them.

“I was seduced by this aspect,” Favier says about stepping into a tight-knit family business and bringing his French touch to the ‘Made in Italy’, while ensuring its authenticity, based on true Italianness, unique craftsmanship and excellence, remains strong.

A fantastic story, full of emotion

In Malta recently, Favier said Damiani, distributed locally by Diamonds International, has a “fantastic story – full of emotion – that needs to be told”.

The challenge is that too many people do not know it yet, and his mission is to spread the Group’s savoir faire, historical knowledge and heritage.

“Our presence in Diamonds International, a strong partner since 2004, allows us to reach our cultured and sophisticated, curious and motivated clientele in Malta, who are interested in discovering an understated but stable and solid name.

“And there is so much to discover and so many big events in life that Damiani can play a part in,” Favier continues about the “never-ending story” that starts once the relationship begins.

Favier’s tenure with Damiani kicked off with COVID-19, followed by a somewhat bleak economic scenario. But he is optimistic about the impact of these crises on the jewellery industry.

“When I read the papers and listen to the news on TV, I say we should all be bankrupt and go home. But the opposite is the case.

“The big are getting bigger and the small are disappearing,” he acknowledges, predicting the demise of non-branded jewellery.

“The customers, who are driving the world, lost their point of reference in that volatile period, but this was found in brands that have been around for a century.

“They are looking for that reference and go for a brand that has content, sustainability and heritage.

“More educated and aware of the truth, when the marketing approach is too obvious, it pays in the beginning, but they soon tire and even feel ridiculous having the same things as others.

“Damiani’s asset is that it is totally aligned with the way the world is evolving and with customers’ needs,” Favier says.

“Agility is strength in this period, and an entrepreneurial family business is even more agile,” he says about the winning ability to move fast, make mistakes and change immediately in a fast-changing world.

“Overall, the lack of reference due to the crisis has driven people to our world, although, of course, on a daily management level, it has been very complex,” he concedes.

“People are stressed about politics, ecology and finance. But buying a piece of jewellery is buying into something that is becoming a reference for them in a world where all references are disappearing.

“The world – and what is happening in it – is creating our customer,” Favier says, moving away from the idea of specific business strategies.

‘Buy it because you like it’

Still, it is not about buying jewellery as an investment, he advises. “Buy it because you like it. And when you like it, you know you have done something wise, because it is gold, diamonds; it is Damiani.

“Purchase for occasions and pleasure, but in the knowledge that it lasts from generation to generation. It is not just 10g of gold. It is a story. And it is forever.”

Damiani is known for some iconic collections, but probably its most representative best-seller is the Belle Époque line, created by founder Enrico Damiani after a visit to Paris almost a century ago.

Fast-forward to today, and “people are queuing for the unique cross from the collection that is full of content, style and design”.

The must-have jewellery piece of the moment, according to Favier, is the Belle Époque Reel, a novelty ring that transports the cinema and visual arts that inspired the original Belle Époque line into the digital and contemporary world.

The interactive, inclusive, dynamic, daily-use ring – it is not all diamonds – part of which turns, acts like an anti-stress object, says Favier.

It also plays on mixing and matching, the idea being to wear it with others in different colours and styles in a modern and playful way.

In line with the DNA of the collection and remaining a respectful reinterpretation, the “sophisticated construction” has been flying since it was launched in September, because it is answering the customer’s needs, Favier continues about the symbol of how Damiani, steeped in tradition, looks to the future.

On that note, the focus for next year is on preparations for the centenary in 2024 – a year that also marks Damiani’s two decades in Malta, working with its partner, the Fenech family, a synergy that is another cause for celebration.

In total, the Group has over 650 years of heritage within its six divisions, including also Calderoni, Bliss, Salvini contemporary jewellery, Venini glass and the Rocca multi-brand stores.

Each have their own identities and needs, but while the CEO does not want to play down the complexity of bringing it all together, he points again to the advantages of a hands-on, family business.

With its feet planted firmly on the ground, it is working for its own shared vision, motivated by the mission to bring out Italian excellence – the common denominator.