Italian luxury shoe maker Salvatore Ferragamo has launched its first jewelry collection during the Milan fashion week, reportedly hoping to cash in on wealthy clients who see diamonds, precious metals and expensive gemstones as a safe-haven in difficult  financial times.

The collection was created in collaboration with Gianni Bulgari, a member of Italy’s famous Bulgari jewelry family. The collection will go on sale on October 18 in Asia, the United States and Europe. Prices for individual items will range from $400 to $21,000

"I think this [collection] will be successful, especially among Chinese clients," Ferragamo CEO Michele Norsa told Reuters. He added the value of watches and gems does not diminish with time, making them a safer long-term investment than clothes and accessories.