After nearly 30 years on the market, Hearts on Fire is changing course to capitalize on a new opportunity.
The fine jewelry brand, which launched in 1996, is undergoing a rebrand in May, changing things up with its products, marketing and brand image to pivot its focus away from the bridal market and instead offering more modern fine jewelry pieces.
“The bridal category remains very important for us — part of the work we’re doing is really to inject and breathe new life into our bridal offer as well, but what we’re seeing is that the way people look at diamonds is shifting,” said Rita Maltez, the global president of Hearts on Fire. “That’s not new, but it is gaining traction — that movement toward jewelry that’s beyond occasions and it’s really more for every day, for real life and real moments.”
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This shift to every day fine jewelry is coming through Hearts on Fire’s shift in its positioning and messaging of its signature cut diamond, which has long been advertised as the “World’s Most Perfectly Cut Diamond” by the brand. According to Maltez, the signature diamond is no longer the central focus of Hearts on Fire, but is now part of the brand’s overall story.
Hearts on Fire aims to convey this shift through its first collection under the rebrand, called the Barre Collection. The collection was designed by Hearts on Fire’s new creative director Yunjo Lee, who has previously worked at Tiffany & Co. and Mejuri.
The Barre Collection highlights the brand’s signature cut diamond in a unique and fashion-forward way, with small round diamonds appearing to float on the wearer via bracelets, necklaces and rings.
Lee explained the collection took inspiration from various cities across the world and from “the modern woman that we’re inspired by.”
“With numerous trial and error and going through multiple iterations, we really achieved the perfect, balanced composition of the diamond and amazing mechanism that really makes the jewelry as your second skin,” Lee said. “The Barre Collection is really interesting because it reflects our vision of being a creative lead. It really has the art and science in it because the design is very unconventional, but it breaks all the rules.”
Maltez explained the brand’s pricing structure will be consistent to what it was before the rebrand. She stated the way the brand aims to expand its customer base and target the modern woman is through its expanded assortment of fine jewelry. She explained prices range between $2,000 for a ring to more than $50,000 for a statement piece.
“We’re really building on the legacy of our perfectly cut diamond and that remains very much at the heart of everything we do,” Maltez said. “We’ve got a beautiful diamond, we’ve perfected the exacting standards over decades and we’ve come to be known for the brilliance and light of our diamonds, so we’re going to celebrate that and the diamond remains very much the hero of the story of Hearts on Fire. We’re not stopping there though — there’s more to the story. We’re going to be layering on, talking about and showcasing our creativity in terms of our design, and really opening up more spaces that create a welcoming and approachable experience for our customers.”
As part of the rebrand strategy, Hearts on Fire is also focusing on retail. The brand is opening its first boutique in September in Hong Kong and the store will be the first of many. Maltez stated the brand is looking to open more boutiques in key cities across the world in the next 18 to 24 months.
Asia and North America are key markets for Hearts on Fire, according to Maltez, who stated the brand has 350 points of sale in each continent. Part of the brand’s retail strategy now is to continue growing its wholesale partners.
Overall, Hearts on Fire’s goal of the rebrand is to bring its signature diamonds to more consumers beyond its established customer base.
“Our vision, is really to provide the opportunity for everyone to experience Hearts on Fire,” Maltez said. “That’s really the ultimate goal. We’re here to make diamond jewelry enjoyable and approachable. We really see an opportunity in the market, and we know that this is what consumers want. We’re very positive on the outlook for the diamond category and the role that Hearts on Fire can play there.”