With a name and icon revered for nearly a century as the ultimate in tailored, chic, and feminine, Chanel also has a long-held high regard for fine jewelry. Founder Coco Chanel was known for her jewelry—especially her pearls—and her namesake fashion house carried that passion into the merchandising mix. Chanel launched its first collection in 1932 and has always carried an in-store selection of fine jewels. The fashion house, however, is taking its dedication to jewelry to a new level in the United States.

Chanel, whose flagship, freestanding fine-jewelry store is due to open in New York later this year, has offered a preview of what the 3,000-sq.-ft. store will offer. Chanel recently launched its Five Elements collection—based on the symbols of air, fire, water, earth, and love—in Paris. The collection, which is dedicated to diamonds (sometimes mingled with South Sea pearls), is designed by poet Jean-Paul Goude in his first line of fine jewelry.