About Buccellati

Buccellati is one of the world’s most unique and exceptional jewelers and silversmiths.

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Buccellati is one of the world’s most unique and exceptional jewelers and silversmiths. The Buccellati line features handmade, one-of-akind creations, or “limited editions of one.” Each piece is designed by Gianmaria Buccellati himself or by his son Andrea Buccellati, and handcrafted under their direction by skilled artisans. The family-owned business is, in a way, a time-capsule, with a rich history and tradition dating back to a family ancestor and goldsmith in the 1780’s. The company enterprise began in earnest in Milan in the 1920’s and today has 12 locations worldwide. In addition to Italy, Buccellati has retail outlets in France, Russia, England, Hong Kong and Japan as well as three locations in the United States: New York, Beverly Hills, and Aspen, with a new location opening soon in Chicago. 2012 marks the 60th anniversary of Buccellati’s U.S. operations.

The Challenge

In an effort to better understand their brand perception In the United States, Buccellati commissioned a study with the Luxury Institute. The study revealed many positive perceptions. While Buccellati is considered the most exclusive and most luxurious of all jewelers in their class, and their customer service is deemed superior, the study also showed their brand penetration was quite low. So while their message about who they are is on target, it isn’t reaching as many of their ultra-high net worth market as they would like.

The challenge for Buccellati was to remain true to who they are and what they represent while gaining more name recognition and deeper market penetration. According to Alberto Milani, Chief Executive Officer, they turned to WealthEngine in 2010. “We wanted to see this powerful tool that could be at our disposal. There are very few tools like this that can give us insight into the economic power of the consumer.”

The Solution

Buccellati purchased a list from WealthEngine’s proprietary Prospect Generator database of 12,000 individuals with ultra high net worth and that met certain demographic and lifestyle criteria. In reviewing the list, Milani notes, “Many of them were already customers or people we were working with. It showed us that the list was exactly our target demographic. It was perfect.” They narrowed the list regionally to focus on specific areas and prepared a very high-end mailing. Buccellati had recently been invited to present a collection for display at the Kremlin, and based on that show, created a monograph–or coffee-table book– showcasing their display and one-of-a-kind creations. This became the ultimate, hard-cover catalogue which they eventually mailed to about 3,000 households from the WealthEngine list.

The Result

“We are pleased with the success of the campaign,” explains Milani. “We reached people from Washington to Oregon to Florida. But of course one mailing will not change our name recognition immediately. This is a long-term process. People don’t necessarily buy an important piece of jewelry every 6 months or even every year. But when the cycle turns, when the silver anniversary comes around, or the special birthday or other occasion for celebration, we will be there–on their coffee table, in their minds.”

In the summer of 2011, Buccellati introduced their new Blossom line. Inspired by nature, this silver jewelry line is intended to reach a younger audience and introduce a new generation to Buccellati excellence. To jumpstart their marketing, they purchased a WealthEngine Prospect Generator list of Manhattan residents under age 35 with income in a specific range. “Based in part on the great response to this appeal, we were able to present the line in Bloomingdale’s, Neiman Marcus and Bergdorf Goodman. WealthEngine helped open those doors,” according to Milani.

Next Steps

The next project for Buccellati is to overlay email addresses onto a list of high net worth prospects. Marketing plans are to create an unparalleled, online “private shopping” experience for patrons. This exclusive Buccellati VIP club will provide top clients and prospective clients a personal relationship with the retail store of their choice, and a modern shopping experience in the comfort of their home or office, with no sacrifice in the quality and exclusivity of the jewels.

“The United States is a big country, and it has surprises everywhere. There are surprises in Memphis, Tennessee, and in Columbus, Ohio. We used to think the wealth was on the coasts, New York and Los Angeles. WealthEngine has helped us realize that it’s not just here or there – it’s hidden everywhere. And how would we know about these people in Columbus, or Memphis, without WealthEngine? Now we know how to find them,” says Milani. “ And WealthEngine is not limited to multi-millionaires. Whatever your product is, you can choose a market segment based on age, income, net worth, or any number of lifestyle, wealth or demographic attributes. WealthEngine has been a powerful tool for us, and it will work for others, too.”

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