“Digital Native” is a description that is almost as rare in the jewellery industry as the pieces it deals in.
The exception is undoubtedly the Antwerp diamond jewellery brand Baunat, where jewellery lovers can find everything from timeless pieces at entry-level prices to unique pieces worth millions.
Why did Baunat focus on online sales from the very beginning?
When we founded the brand in 2008, we knew that the market would change on a long-term view. Our main target group were and still are the smart buyers, a group of customers that look for high quality at a fair price. Therefore, the focus on online sales was the only logical choice to us.
Those who nevertheless want to put on the diamond jewellery first have the opportunity to do so in several branches from Antwerp to Hong Kong – but these do not correspond visually at all to the clichés one associates with a traditional jeweller?
Well, our branches are not the traditional jewellery stores most people know. They are in fact showrooms where customers can see and try on our models and also see the offered diamond quality in real life. A visit takes place in a very discrete and private environment and is only possible on appointment. The whole experience is much more personal and feels like something special, what in fact diamond jewellery is too.
The range of products is also interesting in terms of pricing: from a white gold ring around 580 euros to a model with a 5-carat “fancy pink” diamond in a drop cut that costs almost 3.000.000 Euros, you cover a broad target group?
Indeed, when we started Baunat we launched more commercial pieces. Over the years we increasingly received requests for the bigger, more expensive pieces. At the time we only offered them through our tailor-made service. But with the request growing we decided to offer them as a fixed part of our collection too.
Can you describe your customers a little more precisely – in which countries is the concept particularly well received? Which markets are more reserved?
Our concept is most popular in western Europe and the Far East, in countries where high quality is very well searched for. We can say that we target different segments. In general, our clients are highly educated or entrepreneurial. We also have more and more female self-purchasing customers. Women who want to reward themselves for their success and treat themselves. Nowadays some women even choose their engagement ring themselves. This important gift, however, is still mostly presented by the partner.
Especially with regard to the house’s high jewellery collection – how can the glamour and also the service that normally goes hand in hand with pieces in this price range be transported online?
High quality service is key. Combined with our high quality diamond jewellery we offer the best possible service.
Let’s talk a little about the design: How would you describe the aesthetic of the brand?
The name already speaks for itself. It is formed from the French term “beauté naturelle”. This is what the brand stands for. Most of our pieces are very timeless and can be treasured a whole lifetime and beyond. We also offer custom designs, where we make unique pieces according to the wishes of our clients.
The jewellery industry is generally considered to be rather conservative – as an innovator, which traditions does it still have to break with and what is your vision for the future of the market?
With the current pandemic, we see that the industry is already changing. We had the advantage that our disruptive and visionary business model was already build for online sales and high quality remote customer service. Thanks to this, we could continuously keep working.