Jewellery World Magazine - August 2021

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News Alternate industry strategies of online business A recently released study by the leading consulting house McKinsey and Company, estimated that the ecommerce jewellery market will double in size between 2019 and 2025, attaining a market share 18 to 21 percent of global fine jewellery sales, or $60 to $80 billion in annual turnover. The industry is at an inflection point, and almost certainly undergoing its most comprehensive transformation in living memory. And while the process of change has been inevitable, it has been accelerated considerably by the COVID-19 pandemic, as companies scrambled to develop online capacity in order to survive the lockdowns that were widely imposed at the start of the crisis. Rough market thrives in Antwerp and outperforms 2019 Figures on the rough diamond trade in Antwerp in the first six months of the year demonstrate the city is back on track of the pre-pandemic upturn seen in the first few months of 2020, outperforming 2019 figures on rough trade with double digit growth. Polished trade, still suffering from the lack of trade shows and the effects of the pandemic in India, shows encouraging signs of recovering to normal levels. Antwerp hosted more than 75 diamond tenders in the first six months of the year, boosted by strong rough prices and the city’s unrivalled critical mass of buyers and sellers. “Despite the lingering constraints of the pandemic, with second and third waves in many places around the world, Antwerp has proven to be a safe haven for producers to sell their rough, where they can achieve consistent, high value for their goods,” said Karen Rentmeesters of the Antwerp World Diamond Centre. In H1, Antwerp imported US$5bn worth of rough diamonds, compared to US$2.7bn in H1 of the pandemic year 2020 and US$4.3bn in 2019, up nearly 15% y-o-y comparing 2021 with the last “normal” year 2019. While the rough business is booming, polished trade is lagging behind somewhat. “Since the outbreak of the pandemic, there have been no trade shows whatsoever, which traditionally create a lot of movement of polished goods in the industry. In addition, the devastating third wave in India in the first half of this year had a major impact on the somewhat slower trend of polished business picking up throughout the global industry, but the last three months show positive signs,” said Karen. In April, polished imports in volume in Antwerp equaled 2019 levels, jumping over the June 2019 figures and a similar trend is noticeable for polished exports.” The shift to digital business environments has been pervasive, permeating all stages of the value chain and almost all jewellery, gemstone and precious metals sectors. It is also disruptive, rendering certain business models obsolete, while providing a range of new opportunities and capabilities to those who have the capacity and acumen to thrive according to the new sets of rules. CIBJO’s July seminar looked at digital strategies and navigating jewellery’s most promising frontier. A recording of the seminar is available, along with all recent Season 2 Jewellery Industry Voices seminars, on the CIBJO website. A third season of the free CIBJO seminars will return in September. The Golden Lung Necklace A giant gold necklace worn by model Bella Hadid has created a sensation at the Cannes film festival. Hadid’s haute couture gown by Schiaparelli was cut low and wide to expose her bare chest. Her modesty was preserved by the elaborate gilded brass necklace, also from Schiaparelli, which was shaped like a pair of human lungs suspended from a heavy chain around her neck. Hadid’s accessories included a Phoenix ring from Chopard’s Red Carpet Collection and a pair of 18 carat rose gold Chopard earrings featuring 24.97-carats of rubies and diamonds. 8 jewellery world - August 2021
ENTRIES NOW INVITED Public Tender No. 2 November 2021 The Fitzpatrick Pink Sold for A$2.2million a new World Auction Record for any Argyle diamond. Refer your client’s fancy coloured diamond to our next tender and earn an introductory commission. We collect and deliver from and to the trade free of charge. See our sale results at yourdiamonds.com C ASH OFFER TO T H E T R A D E Contact tim.goodman@yourdiamonds.com or call +61 481 780 302 BRISBANE SYDNEY MELBOURNE ADELAIDE PERTH
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Jewellery World Magazine - August 2021

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