Buccellati, the century-old jeweler famed for its Renaissance-infused aesthetics, entered a new chapter last year when Nicolas Luchsinger, a former executive at Christie’s and Van Cleef & Arpels, was appointed chief executive.
As Morgan Stanley estimates its annual sales at no more than 300 million euros ($347 million), Buccellati remains small in comparison with jewelry giants such as two of its Richemont sibling brands: Cartier, estimated at about $10 billion, and Van Cleef & Arpels, estimated at about $4 billion. (Richemont does not disclose revenue figures for its individual brands.)
But Mario Ortelli, a partner at the luxury consultancy Ortelli & Co. in London, said Buccellati’s “rich heritage in craftsmanship” and “longstanding tradition in silverware” have positioned it in such a way that, with Richemont’s backing, it “can sustain growth with fewer means” than would be required by its rivals.
In a video interview from the house’s headquarters in Milan, Mr. Luchsinger reflected on the advantages of having a loyal European clientele, the challenge of growing while maintaining a niche reputation and his quest to expand the brand’s archives. The conversation was edited for clarity and condensed.
You joined Buccellati in April 2024. What was your impression of the brand before joining, and what surprised you once you were inside?
I’ve loved jewelry since I was a child, so Buccellati was always a famous name for me as a quintessential Italian jeweler, appealing not only for its jewelry but also for its exquisite silverware.
Before joining, knowing about the founding family’s involvement in the business made me slightly anxious, but the biggest surprise was how quickly we established a constructive working relationship. Andrea Buccellati, the creative director, and Maria Cristina Buccellati, the head of communications, warmly welcomed me. Working directly with them adds enormous value when it comes to understanding the brand’s heritage and identity.
I was also struck by the loyalty of European clients. In most European cities, luxury stores rely heavily on international tourists. But Buccellati still has a strong base of European clients, many of whom are second- or third-generation buyers — this is rare and special.
What are your strategic priorities for Buccellati?
The goal is to develop the maison and make it better known worldwide while maintaining its niche positioning. Buccellati’s jewelry is entirely handmade with a level of craftsmanship that is exceptional, even more so than I expected.
Our plans include expanding into new countries, carefully growing our retail network, and increasing visibility through international exhibitions. We’ll participate in events such as TEFAF [the European Fine Art Foundation fair] in Maastricht and an upcoming fair in Dubai [United Arab Emirates].
Another important focus is silver and homeware. We’ve observed a renewed interest in tableware and decorative silver objects, particularly among younger generations, and we want to highlight this lesser-known side of Buccellati.
Gold prices have reached record highs. How has this affected Buccellati?
It’s a challenge. When gold becomes more expensive, our jewelry naturally costs more to produce and sell. We are forced to raise prices accordingly. Clients follow the news and understand why prices rise, but it’s not something we enjoy.
You have expanded the brand’s workshops in Italy. What did this involve?
We have separate workshops for silver and jewelry. For jewelry, there are currently four workshops: one in Milan, at our headquarters; two in Valenza; and one near Lake Como. All have been expanded or renovated to improve working conditions and increase capacity.
Our biggest challenge is recruiting and training artisans. It takes about a year of on-the-job training before a jeweler can work on a very simple Buccellati piece.
Buccellati is hosting a major exhibition, “The Prince of Goldsmiths,” in Shanghai (Dec. 7-Jan. 5). Why did you chose that city?
We held a very successful exhibition in Venice about a year and a half ago and wanted to bring it to a wider audience. Shanghai was a natural first stop, we found an excellent location, and I know the region well from my years in Asia.
Chinese clients are key for Buccellati, they have a deep appreciation for the brand’s craftsmanship, so bringing the exhibition to them with a larger selection of pieces on display is a way of showing our commitment.
The exhibition includes the recreation of a workshop. What was the idea behind that?
Our engraving techniques, rigato and segrinato among them, are central to Buccellati’s identity. While videos can explain part of the process, nothing replaces seeing a craftsman at work.
Bringing artisans to Shanghai allows visitors to understand how engraving actually removes gold to create value, beauty and uniqueness. It’s the clearest way to convey what sets Buccellati apart.
Buccellati has been active in acquiring archive pieces. Why?
We have accelerated this since I joined. Exhibitions are built partly from our own collection and partly from client loans. Buying back historical pieces allows us to expand our collection and sometimes reintroduce them to clients.
A unique advantage is the family’s involvement. When we find an archival piece, a family member often remembers exactly when and for whom it was made. It’s like working with a living encyclopedia.
What’s your favorite part of the exhibition?
We have two incredible showcases of silver pieces, one inspired by nature, the other by animals. They feature both old and new pieces, which, put together, form something akin to a big painting, very baroque, very over-the-top, but very Buccellati and absolutely beautiful.
The Chinese have been turning to domestic brands in recent years. How has that affected Buccellati?
The Chinese luxury market has softened due to the economic climate, but Buccellati has continued to grow steadily there. Chinese clients deeply value craftsmanship and handmade work, and while some are turning to local brands for this, Buccellati’s hand engraving resonates strongly with them.
Another advantage of the house is its niche positioning. Buccellati has very few stores in Asia, and this exclusivity is appealing. The main challenge we face is the waiting list for certain best sellers due to limited production capacity, but that scarcity is also part of the brand’s allure.
Which pieces are your best sellers?
The Macri collection — created by Gianmaria Buccellati for the 18th birthday of his daughter Maria Cristina and named after her — is one of our biggest successes. It features the hand-engraved rigato technique, which gives gold a silklike texture.
Because production is artisanal and limited, we have waiting lists for these pieces worldwide.
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