Rebecca becoming fast friends with U.S. recessionistas

July 2009


As U.S. jewelers scramble after affordable merchandise that will appeal to stylish recessionistas, the Italian brand Rebecca has steamed onto the scene like a shot of espresso.

Rebecca becoming fast friends with U.S. recessionistas
Beyonce wore Rebecca jewelry on the cover of Los Angeles Confidential magazine

Alessandro Testi, who founded Rebecca distributor Testi SpA a decade ago, has major ambitions in the U.S. market, where attractive designs at equally pretty price points have made Rebecca a fast-growing brand since its 2006 stateside debut. In 2008, a tough year for jewelry, its sales rose 325 percent.

“We consider the American market the most important market outside of Italy,” Testi said in an interview at the company’s headquarters outside of Florence, Italy, where a group of U.S. retail clients and editors were invited. “We have been waiting to get into the United States for 10 years.”

Crafted in gold-plated bronze, stainless steel and bronze, or sterling silver, with or without gemstones, Rebecca designs retail from $125 to $1,000 and average about $495, straddling the fine and fashion jewelry markets. About 90 percent of the pieces sent to the U.S. market are either made of bronze and gold or bronze and stainless steel, while 10 percent is crafted in sterling silver.

“We’re one of the few companies in Italy that produces fashion jewelry, and we make everything on-site,” Rebecca President Agostino Magni said.

The site is quite a busy one, filled with high-tech, expensive equipment that gets the job done fast. Some 250 employees are among three shifts of staffers working 24/7 to produce 8,000 to 12,000 pieces daily, with 85 percent of those made to order and delivered “just in time” to jewelers in 42 countries.

The company generates about $50 million a year in global sales, with 20 percent of its business now in the United States, Testi says. Rebecca is inside 220 independent U.S. retail doors, but is aiming for a penetration level closer to Italy’s, where it is in 1,000 out of 20,000 doors.

Full report: www.nationaljewelernetwork.com