Much like the rest of the diamond and jewelry industry, the Damiani jewelry designer company has had to come to terms with the results of the recession, decline in consumer confidence and consumer spending on luxury items such as diamonds and jewelry.
Damiani store, Hong Kong
Damiani is an Italian firm that was founded in Valenza in northern Italy back in 1924 by the son of a jeweler, Damiano Grassi Damiani. In an atmosphere of art and fine crafts, Damiano's new marketing policies put the Damiani jewelry business on the map. Since then, Damiani designs have won numerous Diamond International Awards and attracted the attention of celebrities and fashion designers world wide, establishing themselves as a leader in the field.
Damiani's prestige increased, curiously enough, after allegedly breaking an agreement with Brad Pitt and Jennifer Aniston, who chose the company to design their wedding bands and engagement rings. The celebrity couple claimed that Damiani sold look-alikes of their jewelry using their fame in contravention to their agreement with the couple. They proceeded to file a $50 million law suit against the company. Damiani jewelry designers were able to turn the tables when they hired Brad to design a line of jewelry for them, to be modeled by Jennifer in 2000.
Brad Pitt's design
November of 2008 was a particularly difficult month for the industry as a whole, with diamond mines around the world considerably reducing, and even suspending, diamond mining activities. Despite launching a campaign with celebrity Sharon Stone just months before, Damiani stocks plummeted a whopping 70 percent.
However Damiani made it through, and has successfully signed partnership agreements with leading designers in Italy and abroad to create lines of jewelry designs that are likely to be nominated for several design awards.
Paris Hilton also partners with Damiani
So what can we learn form this short outline of the history of glamour and success? Perhaps that love of creation combined with business craftiness is an unbeatable combination? Or perhaps we can learn that when the going gets tough the tough get going – that life is always dynamic and that we need to exercise a degree of flexibility and determination to be able to respond at any turn.
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