Jewellery World Magazine - April 2022

PRESIDENT'S
MESSAGE
Karen Denaro
Over 17-18 March 2022, I have had the pleasure of sitting amongst esteemed industry
professionals and peers from all over the globe, as a panellist for CIBJO (The World Jewellery
Confederation) assembly, a hybrid international event, held in conjunction with Vicenza Oro.
There is much discussion of the current
state of political affairs, sustainability, ethics,
integrity, intention, and alignment. It is a time
of reckoning for all of us. With this comes
the knowledge that nothing will ever go back
to the way it once was and the jewellery
industry, right across the supply chain, from
every corner of the world, has the golden
opportunity (pun intended), to use these
challenges to do things differently – good
simply is not good enough.
In an ever evolving and changing industry, the
last ten years in the international jewellery
industry are referred to as a pivotal decade.
Living our new normal no longer applies solely
to the pandemic. It also pertains to accepting
the fact that, globally, we are living through
constant crisis. Variable circumstances are
perpetually evolving. As I sit to write this, I
realise that there will be continued change by
the time this message is actualised in print.
The current conflict in Eastern Europe impacts
us all – as human beings and as business
owners alike, regardless of where we reside
and operate from in the world. Some of us
impacted on a far greater scale than others.
Belonging to a trade association has never
been more poignant to the Australian
jewellery industry.
In alignment with industry associations, both
locally and internationally, the Jewellers
Association of Australia (JAA) is responsible
to our members and the industry at large.
The JAA provides protection, guidance,
governance and integrity for every branch and
sector of the Australian jewellery industry,
right across our supply chain. We are here
to make a difference and to support you in
your business. We are up to date with the
latest international industry news and we will
continue to keep our members informed. The
JAA is here to assess, mitigate and eliminate
risk, ensuring in the protection of our local
industry.
As an association we support and govern
industry responsibilities, conduct, ethics and
our dealings with one another, which are of
paramount importance.
With more than 90 percent of their diamonds
mined and sold via state-owned Alrosa, Russia
is one of the worlds’ largest producers of
diamond rough. The current political crisis and
subsequent sanctions have seen a USD $79
billion dent to the global diamond industry.
This is likely to have significant ramifications
on how we trade in diamonds in Australia.
Lab grown diamond sales are currently skyrocketing
and rough is up approximately 30
percent, with further expected increases over
the coming weeks.
Diamond sales from China and India are at an
all-time high.
With a sharp decrease in raw goods,
particularly diamond rough, from Russia and
Russian owned companies, we need to look
at local industry suppliers and their sources
to ensure we provide responsible, ethical,
and informed sustained support, to be of the
greatest service to one another.
Adaptability and unity are key to how we
move forward, both within our individual
businesses and as an industry.
I strongly believe the current global challenges
provide an opportunity for us to look at how
we operate and to pivot our businesses to
operate differently and effectively. Change is
not always comfortable, however it necessary
for sustained growth and our industry is
certainly no exception.
The JAA hopes for a peaceful resolution.
18
jewellery world - April 2022