NEW YORK — Honora wants to become the destination for pearls.
The 60-year-old pearl jewelry firm based here opened its first signature store on Friday at 30 East 57th Street.
The 1,000-square-foot boutique offers a wide selection in price and quality, from necklaces of freshwater pearls to rare and precious South Sea strands. Retail prices range from $50 to $50,000. First-year sales are anticipated at $2.5 million to $3 million.
“Our motto is a fresh, new look at pearls and we see the store as a showcase,” said Ralph Rossini, company president, who wants to cater to consumers of all ages. “We’re showing the affordable nature of freshwater pearls, which have allowed us to appeal to a much wider and younger market.”
Rossini said the market has changed dramatically in the last decade with the introduction of Chinese freshwater pearls, which are far less expensive than traditional cultured Japanese pearls or finer baroques and Tahitians.
The store has several exclusive styles that aren’t sold through the firm’s regular distribution in stores such as Macy’s, Bloomingdale’s and Bailey, Banks & Biddle. Several looks, like a pink pearl Y-necklace and long, dangling earrings, offer a more fashionable way to wear what was once pegged as a conservative gem.
“Women are looking for different things they haven’t seen before in all colors, lengths and sizes,” Rossini said. “There’s going to be more of everything, from baroques, rondelles and ropes of all lengths.”
The firm is using the store as a testing ground for new product, as well. “We will be able to know consumers’ responses immediately now,” he said.
Honora is contemplating international wholesale expansion, but so far there aren’t plans to open more stores.
“We like to take things slow and learn the business before we go full steam ahead,” Rossini said.