Jeweler Damiani and Italian fashion brand Gianfranco Ferre have announced a new jewelry collection.

The Gianfranco Ferre fashion house, which suffered the death of its founder and the bankruptcy of its holding company in the span of two years, said Tuesday it was starting a jewelry line to be produced by Damiani as part of its relaunching efforts. Flashier runway pieces will debut at the spring/summer 2010 fashion shows, while a complete line of jewelry – from silver to precious metals and stones – will be launched at a later date and sold in both Ferre and Damiani boutiques, officials said.Ferre’s new designers Tommaso Aquilano and Roberto Rimondi will design the pieces along with Damiani, which will produce them. “The crisis is a moment of truth for whoever creates fashion and it is an occasion to clean up and reveal the qualities of the brand,” Aquilano said. For the consumer, the economic crisis means “fewer purchases but more emphasis on quality and design.” – from Forbes