10 Years Ago Time Machine: <strong>October</strong> 2011 A snapshot of the industry events making headlines this time 10 years ago in <strong>Jeweller</strong>. Historic Headlines 4 Five more years for Expertise Events 4 Michael Hill profits 4 Big win for Queensland jewellers 4 Georgini heads overseas 4 Celebrity launches diamond collection Diamond investment fund Australian investors will have the chance to contribute to the Australian arm of a new $US250 million diamond asset fund. The Diamond Asset Fund (DAF 1) is a joint venture between Canadian retailer Harry Winston Diamonds and Zürich-based advisor, Diamond Asset Advisors (DAA) and involves Harry Winston sourcing diamonds which will then be consigned to it by the fund; when sold, Harry Winston will pay the fund the prevailing market price as determined by its cost to replace the diamond. Formed in May this year, the partnership is raising funds from institutional investors. It will be managed locally by Melbourne-based investment advisor Bristow Shaw & Company, which aims to raise $30 million from "institutions" and "high networth parties". Young jewellers meet in Sydney The Young <strong>Jeweller</strong>s Group (YJG) met for the first time at the Sydney fair in August for cocktails and conversation. Hosted by <strong>Jeweller</strong> editor Coleby Nicholson, the function was attended by about 30 people including some senior members of the industry, who offered help and guidance. Nicholson, who instigated the meeting, said that <strong>Jeweller</strong> magazine was essentially a conduit for encouraging the group to form ideas and network together, in order to enhance their future. NSW-based young jeweller Ewen Ryley has been managing the group's Facebook page and urged fellow young jewellers to get on board. Young jewellers from New Zealand have also joined the YJG, including Naeem Alhaseny from Marqueez <strong>Jeweller</strong>y, who said she was eager to network with other jewellers. <strong>October</strong> 2011 ON THE COVER Storch & Co. Editor’s Desk 4Look In The Mirror First:“While I sympathise with jewellers' concerns about how the industry has changed, longing for the 'good ol' days' won't change a thing. "Ridiculing successful brands for their popularity with consumers or agitating for government protection of traditional business models is misguided to say the least. If your business is struggling, the first place to look is in the mirror, rather than across the road!" Soapbox 4The Importance of Trade Fairs “The core reason for trade fairs is obvious; for buyers to meet with existing, and new, sellers. But what is often overlooked is that fairs also provide a way for those in the industry to network and help each other. "Many people seem to think a successful fair is just about getting numbers through the door – I disagree. It's the quality of the audience that's important, not the quantity." – Gary Fitz-Roy, managing director, Expertise Events STILL RELEVANT 10 YEARS ON Child's Play: No longer content to be told what to wear by mum or dad, these chic kids often dictate what purchases are to be made. Influenced by peers, celebrities, and a greater exposure to what's available via the internet and social media, these kids know what they want and once they arexposed to a product, hopefully remain loyal in the long-term. Ayres acquires competitor Melbourne-based company Kenneth Ayres has acquired its competitor, Davies Ferguson, which will cease operations on 31 August 2011 after 30 years in business. Kenneth Ayres has acquired the business assets in the form of stock, plant and equipment, but not the 'Davies Ferguson' trading name. Paul Chaston, Ayres national sales manager, said: "We knew they wanted to move on. Our relationship has always been respectful, despite being competitors, and it has been an amicable transition." Chaston believes the combination of both Ayres and Davies Ferguson gives customers a greater level of choice. US jewellery sales expert in Australia US based sales expert Shane Decker was in Australia recently to head a series of seminars on jewellery retailing. Visiting for the first time, Decker inspired audiences with his charistmatic speech and proactive approach to retailing. The first seminar, entitled, 'Anatomy of a diamond sale', saw Decker deliver practical tools encompassing everything from the importance of showing diamonds on a daily basis to the consistency of excellent customer service. Decker also conducted one-hour seminars on customer loyalty and customer service, noting Australian retailers "lack accountability". READ ALL HEADLINES IN FULL ON JEWELLERMAGAZINE.COM 22 | <strong>October</strong> <strong>2021</strong>
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