Why Van Cleef & Arpels’ Alhambra is Richemont’s lucky charm

When Van Cleef & Arpels first launched Alhambra – its discreet yet instantly recognisable line of jewels – in the 1960s, it appealed to a new, younger customer base who wanted accessibly priced yet high-end goods. It was jewellery’s answer to prêt-à-porter, as democratic as Rive Gauche at Yves Saint Laurent, and fed a seemingly insatiable consumer appetite for fine bijoux, especially for women, newly armed with their own incomes, who wanted to buy for themselves.

After nearly six…