Diamonds, nickel - and S$1.46b of failed promises

Singapore

LATE last year, Coco Cai, a 30-year old socialite, was photographed for a luxury magazine, draped in her newly acquired baubles from luxury brand Bvlgari's Barocko jewellery collection.

As a valued client of the Italian jeweller, she was getting an exclusive private viewing of a curated collection, presented to her in her home, since a shopping trip to Italy was out of the question during the pandemic.