By Victoria Gomelski

It’s getting harder to refute that old bromide, the rich are getting richer and the poor are getting poorer. When basic staples like wheat and rice are priced out of reach for a majority of the world’s inhabitants, the banking system teeters on the verge of a global meltdown and the prospect of recession is no longer up for debate, yet luxury firms like Louis Vuitton continue to rake in the profits—at least according to its recent announcement that first quarter sales jumped 12 percent, driven largely by watches and jewelry—the divide between the haves and have-nots seems wider than ever.

Frankly, it is. Anecdotal evidence from the spring luxury shows in Basel and Geneva suggests that not only are the globe’s wealthiest consumers surviving the year’s economic uncertainty, they’re thriving in it. The vendors at the top of the luxury hierarchy did phenomenal business in Switzerland, especially when it came to sales of their costliest, most exclusive pieces, while those serving the middle and commercial sectors probably question whether a return trip to Basel is in the cards.

That sentiment goes double for American visitors, who not only had to absorb the dramatic slide of the dollar against the euro and Swiss franc, but also had to contend with competition from more impressive buying contingents from the Middle East and the Russian-speaking republics, including places as far afield as Tatarstan.

We examine the state of the market for couture American jewelers in this issue’s special report on The Eight-Figure Independents, an elite club of American retailers doing $10 million or more in a single store (provided they don’t own more than seven stores, with one or two exceptions). Although many of the mainstays of the Eight-Figure list—a self-reported, unscientific ranking published in the May 16 issue of COUTURE’s sister magazine, National Jeweler—were candid about their struggles with a softening economy, an equal number seemed to be reporting from a parallel universe of boundless riches.

What’s their secret? A commitment to service, says Milton Pedraza, CEO of the Luxury Institute in New York, citing a range of perks, from special VIP rooms to expedited repair service, that characterize the offerings at the most successful jewelry businesses.

For jewelers wishing to break into these elite ranks, Pedraza says it’s crucial to be a specialist, to know your market inside and out. “Be 100 percent clear as to who you are, whom you serve and what you stand for.”

And, he might have added, make sure that between the super rich and the merely rich, you market to the right side of the divide.