What recession? Hollywood piles on diamonds
As millions of Americans struggle to pay their monthly bills, the word
on Main Street is that this is no time for the affluent to be showing off with
flashy cars and lavish jewels.
But over in Hollywood, the show does goes on, with the biggest stars of movie
and TV dressing up in diamonds
and gemstones for the winter awards season, thus providing that window into the
glamorous life the public so craves.
Fears that the economy might inspire drab attire and pared-down accouterments
at shows such as the 81st Annual Academy
Awards, 66th Annual Golden Globes
and the 15th Annual Screen Actors Guild
(SAG) Awards proved to be unfounded, with color and flash out in
full force.
Pulled-back hair, fishtail-style gowns and classic diamond jewelry
were among the style hallmarks of the Oscars,
with Hollywood's leading ladies forgoing potential fashion risks and instead
turning to elegant, sophisticated looks. In terms of jewelry, the most popular
combination appeared to be diamond studs
or drop earrings paired with a diamond ring and diamond bracelets at the wrist.
Kate Winslet, who snagged the Best Actress award, accepted her Oscar in a
Chopard bracelet featuring 117 carats of multi-cut diamonds, which she paired
with pear-shaped diamond cluster earrings in platinum and a diamond ring.
At the Globes, statement
necklaces made a major appearance. Actress and singer-songwriter Beyonce donned
a dazzling Lorraine Schwartz platinum loop necklace featuring a whopping 200
carats of diamonds, and Eva Mendes sported a much-talked-about collar-style
turquoise and diamond
necklace from Van Cleef and Arpels. Meanwhile, at the SAG Awards, diamonds falling all at once
from the ears, neck and wrist proved ubiquitous, with actress Christina
Applegate serving as a prime example by wearing looped diamonds-by-the-yard
necklaces, stacked diamond bangle bracelets
and drop-style diamond hoops, all by Lorraine Schwartz.
Michael O'Connor, a style expert and consultant for Platinum Guild
International USA, says the stars excelled in playing the roles that they know
best: being celebrities.
"A lot of people asked [prior to the shows] if the mood was going to be
more somber, and my thought on that is that people don't go to the movies to
live in their own reality, and they don't watch any awards shows to be in their
own reality," he says. "I believe that if Hollywood did not dress up
and really look glam, they were not doing their job, which is helping to
alleviate people's reality and the stress of everyday life."
Andrea Hansen, international communications director for Brazilian jeweler H.
Stern, had similar thoughts.
"At the end of the day, do we appreciate [celebrities] for the
entertainment they bring or do we want them to emulate us?" she asks.
"They have to make good movies; that's what they are paid for. They are
not paid to fix the economy."
Hansen says that while a few socially and politically minded celebrities laid
low amid the economic downturn (Angelica Huston, for example, skipped the
September Emmy Awards, which took
place the week Lehman Brothers closed), Hollywood remains relatively insulated,
and box-office revenues remain strong, paving the way for business as usual.
Michael Coan, the chair of the jewelry design department at New York's Fashion
Institute of Technology, says Hollywood has not, historically, dialed down the
glamour in tough economic times.
"If you look at the 1930s, [the times] couldn't be more depressing than
they are now," he says, noting that the era was a heyday for Hollywood glamour. "I think the ostentation is going down, but the elegance is in.
Overall, they're going classic, as people do in times of trouble."
Classic diamond jewelry, including studs and small drops, had a strong showing
at both the Golden Globes and the
SAG Awards.
Newcomer Freida Pinto, a breakout star from the film Slumdog Millionaire, wore a bolder look to the Globes, but at the SAG Awards, she donned more traditional diamond designs from Martin Katz:
drop earrings, a blue and white crossover ring, and a seven-row bracelet,
topped off with a second bracelet in her hair.
And some of the shows' biggest winners wore simple diamond looks too, including
30 Rock's Tina Fey, in Judith
Ripka stacked diamond bracelets and diamond pendant earrings at the SAGs, and Kate Winslet, who chose Chopard
oval-shaped diamond drop earrings and a five-row diamond bracelet for the Globes.
Coan says that celebrities appeared to be most playful with their choice of
earrings.
"They're bold, large and oval," he said, calling out a prevalent
drop-hoop style at the SAG Awards.
Consumers can easily emulate the bold earring designs, such as those worn by
Applegate and the yellow gold and ruby Bochic pair chosen by Jane Krakowski for
the SAG Awards, Coan says.
"The outline is very replicable and that's very important to know,"
he says. "Everything they were wearing in jewelry can be modified to any
price point."
And in terms of diamond jewelry, customers may be asking jewelers for
lower-carat-weight versions of Hollywood pieces they like, but experts say it's
a good time for sales associates to emphasize the idea of "fewer, better
things," as promoted in De Beers' 2008 holiday campaign.
"Fashions come and go, but during a recessionary period, what you have to
do is invest in pieces that you can mix and match with your outfits to create
totally different looks," O'Connor says.
From Hollywood to hockey moms
--Classic diamond jewelry will always be a winner. Emphasize the lasting power
and versatility of traditional designs.
--Hoop earrings, from small diamond versions to oversized drop styles, were
red-carpet favorites, but lightweight versions offer a big look without the big
price tag.
--Style expert Michael
O'Connor and H. Stern's Andrea Hansen both call out long
chain necklaces, which can be worn in numerous ways: long and simple, layered a
few times around the neck or twisted around the wrist.
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