For example, Buccellati, the fine Italian jeweler favored by European monarchs and actresses, avoids the star system.

PPR is also in talks to buy a stake in Italian jeweler Pomellato, famed for its colored stacking rings.

Bulgari, the Italian jeweler, invested heavily in Japan last year, opening a flagship store in Omotesando as well as Ginza.

Others expected to ride the wave of strong sales are Italian jeweler Bulgari and French jeweler Cartier, owned by Richemont SA.

Italian jeweler Bulgari BULG.MI is investing significantly into soft leather goods, hiring a high-profile designer, opening dedicated stores and launching an advertising campaign.