This article first appeared in the Pearl Report 2024-2025.

Established in 1984, France-based luxury pearl dealer Alain Boite faces a new era of brilliant opportunities with Pierre and Thomas Boite, sons of namesake founder Alain Boite, taking the helm.

Guided by their father’s ingenuity and dynamism, the successors aim to reinforce Alain Boite’s global reputation as a supplier of premium-quality pearls, according to Thomas, general director of the company.

“Pierre and I have both been in this business for over a decade,” shared Thomas. “Backed by integrity and a creative mindset, we steered the company towards expansion into new markets such as the Middle East while deepening connections within mainland China.”

Affinity for pearls

South Sea pearls witnessed a massive rise in popularity in 2023, with Asia, China in particular, driving the growth. Jewellery designers and manufacturers from Europe and the US also caught up with the trend by the second half of 2023 through to the beginning of 2024. Demand for one-of-a-kind pearls is likewise on the uptick.

“We have collaborated with a great deal of new clients from China as well as Europe,” revealed Thomas. “These are agile companies that can swiftly meet market demand by conceptualising and designing inimitable jewellery pieces with our pearls.”

Cultured pearls offer a more diverse choice for buyers in terms of volume and colour but out of all varieties, the white South Sea pearl is considered “the queen of cultured pearls,” remarked Thomas.

Demand for small and large white South Sea pearls in finer quality remains steady, with Alain Boite having recently sold some gem-quality necklaces of 20mm in size.

Meanwhile, multicoloured pieces featuring a combination of white and golden South Sea pearls as well as grey Tahitian and pink freshwater pearls are enjoying immense popularity in the trade as these are viewed as contemporary and progressive.

Drop-shaped pairs in any colour are similarly highly favoured by jewellers, according to Thomas. With soaring demand and lower pearl production post-Covid, the market also saw a tremendous increase in pearl prices.

While Alain Boite considers 2023 “an incredible year” for pearls of all ranges and sizes, powered by solid demand from China, 2024 is shaping up to be somewhat different. Thomas observed heightened interest in larger, more exceptional pearl necklaces and pairs. Consumers, however, are buying these in fewer quantities.

“This is a typical but smart response to global economic uncertainties,” he noted. “It also further highlights the fact that offering quality products is the main driving force in the jewellery industry.”

Radiant prospects

Alain Boite is eyeing to further strengthen its reach in promising new markets. For instance, the Middle East, which has predominantly been into natural pearls, is increasingly gravitating towards cultured pearls, especially in Dubai, noted Thomas.

Asia will still lead the way in terms of demand and business growth alongside young buyers in Europe and the US who have become more educated about pearls and are consistently purchasing them.

A younger generation of designers and jewellers is similarly becoming more enamoured with the beloved gem as evidenced by South Sea pearls figuring more extensively in high jewellery collections.

“Pearls will continue to be a must-have item in every jewellery collection because the end-customer views the pearl as a versatile gem that is both classic and modern,” explained Thomas. “The point, however, is not just to sell pearls but to offer quality. And that is our advantage. Specialising in high-quality pearls is key to our longevity.”

Moving forward, Alain Boite will continue to support pearl farms, market uncertainties notwithstanding. In fact, it is this strong, long-lasting partnership with pearl farms that has enabled the company to continuously supply luxury pearls to the market.

“We will continue to participate in international jewellery shows as well. We are also looking into the possibility of collaborating with gemstone and high-end coral dealers for new projects,” revealed Thomas.