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Damiani S.p.A.
Company typeSocietà per azioni [1]
BIT: DMN
IndustryJewellers
Founded1924, in Valenza, Italy
FounderEnrico Grassi Damiani
Headquarters
Valenza
,
Italy
Number of locations
52 directly operated stores (30 June 2013)[2]
Area served
World wide
Key people
Guido Grassi Damiani, CEO
Giorgio Grassi Damiani, Vice President
Silvia Grassi Damiani, Vice President
Enrico Grassi Damiani, Founder
ProductsJewelry
Total equity104,779,284 (2014)[1]
Number of employees
567 (2014)[1]
ParentLeading Jewels S.A.[2]
SubsidiariesRocca S.p.A.(2008)[3]
Websitewww.damiani.com

Damiani S.p.A, parent company of the Damiani Group, is an Italian luxury jewelry company that designs, manufactures, distributes and sells jewelry and luxury watches.[4][5] Damiani was the first company to introduce Certificates of Authenticity for jewelry pieces showing the details included in the jewelry, for example, the number of carats.[6]

History and Operations

In 1924, Enrico Grassi Damiani, in Valenza, Italy, founded Damiani. Enrico Damini was "influenced by the beauty of Art Deco styles."[6] Enrico quickly became the personal jeweler of affluent and noble Italian families of that time.[7]

Between 1960 and 1990, Damiano, Enrico’s son, continued the family tradition with a strong entrepreneurial spirit and he initiated the internationalization of the company, combining together tradition, innovation, creativity, and design. Thanks to these activities, the Damiani brand products gradually made its way within the high-end jewelry market, both in Italy and abroad.[8] Apart from jewelry and watch collections designed and manufactured over the years, Damiani also boasts an exclusive collection of limited edition jewels and unique Masterpieces, occasionally created or even specially customized.[9]

Starting in the 1980s, the company renewed its advertising methods by using famous actors and actress, as brand ambassadors,[10] such as Isabella Rossellini, Brad Pitt, Nastassja Kinski, Chiara Mastroianni, Milla Jovovich, Jennifer Aniston, and Gwyneth Paltrow.[11]

In 2006, Sophia Loren was a brand ambassador according to public relations manager Wendell Figueroa Ruiz.[12] Also, starting in 2008, Sharon Stone was a brand ambassador.[10]

In 2007, Damiani announced an initial public offering, which would value the company at €150.8 million (USD$215.4 million) (in 2007 exchange rates).[13]

In 2010, Damiani had a net loss of €18.2 million (USD$25.6 million).[14] The company's estimated total sales (in 2010/2011) were €150 million.[15]

In 2010, Birks & Mayors agreed to distribute all Damiani Group's brands, for five years, in the United States.[16]

In 2012, Damiani entered into a partnership with MingFung/Hengdeli Group to distribute its watches and jewelry in China.[17] Also, in 2012, Damiani received permission by the Government of India to invest in the Indian jewelry market.[18]

As of November 2012, Damiani had annual revenue of €151.6 million (USD$193.3 million).[19]

In fiscal year ending March 2013, Damiani S.P.A. had sales of €137.82 million (USD$185.75 million)[1] and revenue of €65.033 million for six months ending on September 30, 2013.[2]

Currently, Damiani is run by the third generation of the Damiani family,[8] that has been on the board of directors since 1996, expanding the development process that made the shift from family business to organized corporation possible.[19] The active group is Gabriella Damiani and her three children: Guido Grassi Damiani[20][21] as Chairman and CEO, Giorgio Grassi Damiani[22][21] as Vice President and in charge of product development and design, Silvia Maria Grassi Damiani[23][21] as Vice President.[24] Currently, Damiani's major market is in Italy and is sold in other major markets worldwide through subsidiaries and boutiques.[11]

Brands

Damiani Brand
Product typeJewelry
OwnerDamiani S.p.A.
CountryValenza, Italy
Introduced1924[21]
Marketsworldwide
Ambassador(s)Sophia Loren[25]

The main brands of Damiani are:

Subsidaries

Rocca S.p.A., an Italian jewelry and watch retailer, was purchased by Damiani for €7 million (USD$9.81 million) in 2008[3] with Giorgio Damiani as CEO.[29][30]

Damiani USA has responsibily for the North Americian and South American markets.[31] In 2008, Antonio Pavan was CEO.[31] In 2012 to 2013, Thierry Chaunu was CEO of Damiani USA.[32]

Awards and other Noteworthy Events

Over the years, Damiani has received many Italian and international acknowledgements:

  • In 1976, the Diamonds International Award was awarded to Damiani for the design of the jewellery peice "Bocca di Squalo - Shark Mouth": a bracelet in platinum and yellow gold, entirely brightened by a pavè of white and jonquil diamonds, designed by Gabriella Damiani.[33] Damiani is the only company to have won 18 Diamonds International Award, an unbroken record.[7]
  • The Damiani’s Eden bracelet was recognized at the Diamond International Awards in 2000 for its craftsmanship, its elegance and the quality of its gems. The bracelet, the brand’s interpretation of a serpent, features 900 brilliant-cut diamonds for a total of 94.45 carats and required 800 hours of work.[11]
  • In 2005, Damiani won the Haute Couture Design Award.[34]
  • Damiani created the 2009 Harlequin Fantasy Bra, worn by model Marisa Miller during the Victoria’s Secret Fashion Show.[35] The bra has a 18k gold frame with 2,355 colorless and cognac diamonds, with a focal point of a 16-carat, champagne-color, heart-shape diamond, for a total of nearly 150 carats total weight.[35] The bra was featured in the Victoria’s Secret Christmas Dreams and Fantasies Catalog.[35]
  • Damiani won the 2013 Best Annual Fine Jewelry Award 2013 by Bazaar Jewelry China.[37]

Philanthropy

All Damiani suppliers are part of a restricted circle of selected organizations respecting UN regulations on the certification and origin of conflict-free diamonds.[7]

Among the corporate social responsibility projects supported by Damiani over the years, in 2010, Damiani and Sharon Stone partnered in the international humanitarian project “Clean Water”, to supply potable water to African people and, in connection with it, the Maji collection was created (“Maji” is "water" in Swahili), with rough diamonds in gold and silver setting, co-designed by Sharon Stone. Part of the proceeds went to the Clean Water Project and contributed to the building of 50 water wells, providing potable water to more than 10,000 people.[38]

In November 2013, Damiani raised funds for the Italian Red Cross to support people affected by the storms in Sardinia by donating 20 percent of certain sales in Damiani’s flagship stores in Italy and watch retailer Rocca.[39]

Boutiques

Damiani mainly distributes its products in Italy and abroad through two distribution channels:

In the last few years, Damiani has been expanding also across Asia, Middle East, and Eastern Europe.[41]

In 2012, the company became the first jeweler to obtain the authorization to hold a 51% controlling interest in an Indian-based entity, Damiani India.[19]

Lawsuit

Brad Pitt and Jennifer Aniston filed a $50 million lawsuit against Damiani[42] that began selling imitations of their wedding bands, which were supposedly "one of a kind".[43] The couple claims they had an agreement with Damiani International that the company would never reproduce the wedding bands or the engagement ring (designed by Pitt).[43] Damiani reportedly sold "Brad and Jennifer knockoffs" and sold them on the Internet and in Nevada and California using the couple’s images to sell the product.[44] However, Guido Damiani denied those allegations and said "the rings in question are part of the 'Aside' collection of wedding bands the couple "chose" for their marriage ceremony."[45] The dispute has been settled and Pitt will now design a line of jewelry for the company and Aniston will model it in ads.[43] Their wedding bands were based on an idea of Pitt’s.[43] They were white gold and were engraved with "Jen 2000" (his) and "Brad 2000" (hers).[43] The rings had 10 and 20 diamonds embedded in them respectively. Damiani International states, "Mr. Pitt will design an exclusive jewelry collection for Damiani, and Ms. Aniston will be featured in an international advertising campaign that will run in a number of countries throughout the world, with the exception of North America."[43] The statement was confirmed by Pitt’s publicist.[citation needed] In exchange for Pitt designing an exclusive line for the company and Aniston modeling for the ads, Damiani will stop selling copies of Pitt and Aniston’s wedding rings.[43] In 2004, Pitt appeared at an event in Japan promoting of his movie Troy and discussed "his discovery of the brand in a quest to buy a gift for his wife, Jennifer Aniston."[46] It has been reported that Pitt and friends were collaborating on a clothing line, but Pitt’s camp has denied that rumor.[43]

References

  1. ^ a b c d "Damiani S.P.A. Company Snapshot". CorporateInformation.com. Retrieved 6 February 2014.
  2. ^ a b c "Company Overview of Damiani SpA". Bloomberg BusinessWeek. Retrieved 6 February 2014.
  3. ^ a b "Damiani Acquires Rocca S.p.A." JCK. 19 September 2008. Retrieved 6 February 2014.
  4. ^ "Damiani S.p.A. eveluation". HighBeam. Retrieved 6 February 2014.
  5. ^ "DAMIANI s.p.a. evaluation by Expo Piemonte Spa". Expo Piemonte Spa. 2012. Retrieved 6 February 2014.
  6. ^ a b "Damiani Business". Fashion Model Directory. Retrieved 7 February 2014.
  7. ^ a b c Pittilla, Mary Jane (28 October 2010). "Damiani on sparkling form with new travel retail concept". The Moodie Report. Retrieved 12 February 2014. Cite error: The named reference "Damiani on sparkling form with new travel retail concept" was defined multiple times with different content (see the help page).
  8. ^ a b "STUDI SOCIETARI" (PDF) (in Italian). Borsa Italian SpA. Retrieved 12 February 2014. Cite error: The named reference "Study of Damiani" was defined multiple times with different content (see the help page).
  9. ^ Bharadwaj, Chumki (27 December 2012). "Alchemy of desire". India Today. Retrieved 12 February 2014.
  10. ^ a b "Damiani and Sharon Stone". JCK Magizine. June 24, 2008. Retrieved 6 February 2014.
  11. ^ a b c Tan, Amy (24 April 2013). "Sparkling Display". The Edge Malaysia. Retrieved 12 February 2014.
  12. ^ Heebner, Jennifer (August 2006). "Damiani Launches Loren Collection". JCK. Retrieved 7 February 2014.
  13. ^ Kaiser, Amanda (29 October 2007). "Damiani IPO Kicks Off". WWD. Retrieved 6 February 2014.
  14. ^ Zargani, Luisa (15 June 2010). "Damiani Posts Loss". WWD. Retrieved 6 February 2014.
  15. ^ Chevalier, Michel (2012). Luxury Brand Management. Singapore: John Wiley & Sons. ISBN 978-1-118-17176-9.
  16. ^ "Damiani Signs Agreement with Birks & Mayors". JCK. 22 October 2009. Retrieved 7 February 2014.
  17. ^ Zargani, Luisa (16 May 2012). "Damiani Enters Deal for China Distribution". WWD. Retrieved 6 February 2014.
  18. ^ Turra, Alessandra (26 October 2012). "Damiani Invests in India". WWD. Retrieved 7 February 2014.
  19. ^ a b c LANKARANI, NAZANIN (27 November 2012). "Creating Golden Opportunities Amid Austerity". The New York Times. Retrieved 12 February 2014.
  20. ^ "Guido Roberto Grassi Damiani". Wall Street Journal. Retrieved 6 February 2014.
  21. ^ a b c d "Damiani S.p.A. Financial Report". Fashionbi. 2013. Retrieved 6 February 2014.
  22. ^ "Giorgio Andrea Grassi Damiani". Wall Street Journal. Retrieved 6 February 2014.
  23. ^ "Silvia Maria Grassi Damiani". Wall Street Journal. Retrieved 6 February 2014.
  24. ^ Rinversi, Fabrizio (March 2010). "Silvia Grassi Damiani". LuxuryFiles: 90.{{cite journal}}: CS1 maint: date and year (link)
  25. ^ "Sophia Loren Graced New Damiani Boutique". Affluent Media. October 18, 2013. Retrieved 18 February 2014.
  26. ^ a b c d "Damiani S.p.A welcomed at Dubai". Diamond World News Service. 24 September 2007. Retrieved 6 February 2014.
  27. ^ a b c d "Damiani Company Overview". Wall Street Journal. Retrieved 6 February 2014.
  28. ^ Roberts, Andrew (1 October 2008). "Damiani Signs Deal for Youth Brand in Japan". WWD. Retrieved 6 February 2014.
  29. ^ Turra, Alessandra (24 October 2012). "Giorgio Damiani Named CEO of Rocca 1974". WWD. Retrieved 6 February 2014.
  30. ^ Zargani, Luisa (24 January 2013). "Damiani and Cruciani Team for Valentine's Day". WWD. Retrieved 7 February 2014.
  31. ^ a b "Pavan Named President, CEO of Damiani USA". JCK. 5 June 2008. Retrieved 7 February 2014.
  32. ^ "Jewelry Industry & People: September 2013". JCK. September 2013. Retrieved 7 February 2014.
  33. ^ "Bloody Mary". Affluent Media Pte Ltd. 13 December 2013. Retrieved 12 February 2014.
  34. ^ "Damiani Wins Couture Award". JCK. August 2005. Retrieved 7 February 2014.
  35. ^ a b c Heebner, Jennifer (30 November 2009). "Damiani Designs Fantasy Bra for Victoria's Secret". JCK Magizine. Retrieved 6 February 2014.
  36. ^ Turra, Alessandra (14 November 2012). "Damiani Designs Jewelry for 'Twilight'". WWD. Retrieved 6 February 2014.
  37. ^ "Damiani wins the Best Annual Fine Jewelry Award 2013 prize". Rough&Polished. 28 February 2014. Retrieved 7 February 2014.
  38. ^ Demarco, Anthony (December 2010). "Sharon Stone, Damiani Designed Jewelry to Benefit Water Projects". Jewelry News Network. Retrieved 18 February 2014.{{cite journal}}: CS1 maint: date and year (link)
  39. ^ Turra, Alessandra (November 29, 2013). "Damiani Launches Initiative for Sardinia". WWD. Retrieved 6 February 2014.
  40. ^ a b "STUDI SOCIETARI" (PDF) (in Italian). Borsa Italian SpA. Retrieved 12 February 2014.
  41. ^ "Damiani eyes expansion in Asia, Middle East". Jewellery Outlook. 20 March 2010. Retrieved 12 February 2014.
  42. ^ "Aniston sues over topless photos". BBC News. 25 June, 2002. Retrieved 7 February 2014. The couple filed a $50m lawsuit against Silvia Damiani and Damiani international, claiming the company was reproducing and selling the rings, which were designed by Ocean's Eleven star Pitt. {{cite web}}: Check date values in: |date= (help)
  43. ^ a b c d e f g h "Pitt and Aniston settle rings case". BBC News. 13 January, 2002. Retrieved 6 February 2014. {{cite web}}: Check date values in: |date= (help)
  44. ^ "Pitt and Aniston sue over wedding rings". BBC News. 20 July 2001. Retrieved 7 February 2014.
  45. ^ DeMarco, Anthony (August 9, 2001). "Damiani says it owns the designs to Pitt and Aniston's wedding bands". JCK Magizine. Retrieved 6 February 2014.
  46. ^ Soucy, Carrie (July 2004). "Damiani, Brad Pitt in Tokyo's Spotlight". JCK. Retrieved 7 February 2014.
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