French luxury group LVMH Moët Hennessy Louis Vuitton has launched a dedicated jewellery section on its online retail portal 24sevres.com.
The web retailer, which sells fashion items from LVMH’s own labels along with those of competitors like Italian brand Valentino, said the dedicated jewellery section would feature product from 13 brands. Prices for jewellery will range from $90 to $2,500.
A study by Bain found that the jewellery segment grew faster than any other in the luxury goods sector barring shoes, clocking a 10 percent rise in constant currencies to €17 billion ($19.64 billion) in 2017.
Rival Richemont, which owns the Cartier brand among others, is also boosting its web presence as high-end jewellery and watches increasingly find customers online.
Richemont’s online retailer Yoox Net-a-Porter (YNAP) announced in April last that it would open a dedicated watch and jewellery section. YNAP’s Mr Porter men’s style website featured a $480,000 watch by French label Bell & Ross.