Jeweller - May 2022

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Post Pandemic Pearls | PEARL FEATURE L to R: Melanie Georgacopoulos; Ikecho; Yoko London; Tiffany & Co. “We responded by launching a brand new e-commerce website in August of 2020 featuring all of our collections which are available to ship worldwide. The restrictions on travel between borders really showed how fragile of an industry it can be and how susceptible we are to disaster. “The other challenge we experienced was that people had fewer occasions to wear fine jewellery. However, as a result, we experienced a rise in demand for easy to wear, fashion forward jewellery which can be worn daily with more casual outfits. “The pandemic has affected the supply of highquality pearls, causing costs to rise, and we expect this supply problem to remain for the foreseeable future.” Yoko London’s flagship store is based in Knightsbridge. With the store featuring pearls acquired from all around the world, Hakimain says that Australian pearls are always popular with consumers because of their innate qualities. “We feature Australian South Sea pearls in some of our finest jewellery designs,” he says. “These pearls stand out for their exceptionally large sizes, beautiful surfaces and magnificent lustre.” China: Government forces change China remains the world’s largest player in the pearl farming scene, manufacturing more than 90 per cent of global supply. Located in the south east of the country, Zhuji – nicknamed ‘the Pearl City’ – produces ton after ton of freshwater pearls in the many waterways that encompass the province. The city’s status as the centre of China’s pearl production may not last forever however. In 2015, China’s central government released a 10-point action plan aiming to clean up the country’s rivers and coasts and to preserve the quality of groundwater reserves. Enforcement of these new environmental laws quickly impacted the pearl farming industry and while finding reliable data is difficult, the overall production of pearls is believed to have declined every year since 2015. While the new regulations have forced dramatic change within the industry, the hope is that the changes will lead to more sustainable practices and a higher quality freshwater cultured pearl product after adjustments are made. Dr Geng Li is a gemmology professor at China’s University of Geosciences, located in Beijing. He told Jeweller believes that concern over the environment would have a far stronger impact on the future of pearl farming industry than that of the COVID pandemic. “Total production of pearls in China has continually dropped since 2018 because of environmental concerns,” he says. “I don’t think the pandemic will impact greatly on the pearl farming according to my investigation and the information from my friends in pearl industry in Shanxihu, Zhuji, the pearl town. “The farming industry in China is viewed more like the fishing industry, and not the jewellery industry. There has not been much effect on the fishing industry from the pandemic, and so I think it will be the same for pearl farming.” While the new environmental policies were leading to a decrease in overall production, Dr Li says the quality of the pearls being produced continued to improve as time goes on. “It’s an industry which has greatly changed, not just in terms of the quality of pearls, but also the practices of farming,” he says. “The size, lustre, surface perfection, colour and shape, they’ve all improved very much. I do believe that rates of production will continue to decrease if the government continues to carry out it’s current environment policy. “We may see farmers change focus in terms of quality, of perhaps change to other gems, or another industry all together. Farming remains a rural job indeed.” Japan: Where it all began Japan is of course, where it all began for the cultured pearl farming industry. In 1888, Japanese entrepenuer Mikimoto Kōkichi obtained a loan to begin his first pearl oyster farm. Following five years of trials and tribulations, Kōkichi – facing bankruptcy and humiliation – successfully seeded an oyster with a small amount of mother of pearl. The experiment was successful and he created the first batch of hemispherical cultured pearls, kickingstarting Japan’s iconic cultured pearl industry. Kōkichi was so beloved for his success that in 1985, nearly 100 years after he first seeded an oyster, Japan’s Patent Office named him as one of Japan’s 10 Greatst Inventors. Today, the spirit of Kōkichi’s ingenuity lives on via the saltwater farming of Akoya pearls. The Akoya pearl oyster is the smallest pearl-bearing saltwater oyster currently being used to create pearls today. It only holds one or two bead nuclei at a time, and after the implantation surgery, the pearl is left to grow for a period of 18 months to two years. The longer, the better. Akoya pearls are loved internationally for their perfectly rounded shape, and in terms of lustre, they’re remarkably sharp and highly reflective. In Mumbai, founder and owner of Moksh Jewellery, Milan Tanvir Chokshi, says that Japanese pearls continue to be a staple in the world of design and remain in high demand. Chokshi told Jeweller that 2021 “was a very difficult year for the farming industry in Japan”. It’s an industry which has greatly changed, not just in terms of the quality of pearls, but also the practices of farming “Auctions had to be postponed and there were restrictions on the number of buyers who were allowed to attend the auctions. In terms of production, there wasn’t a big drop in production or quality. Local demand in Japan dropped significantly because big gatherings and events were restricted. “In China however the demand for pearls was as strong as it was pre-pandemic, so this helped exporters remain in business.” As the pandemic headed into a second year in 2022 restrictions on travel were eased in some countries, while others ramped up intervention. Chokski says that the market remained kind to Japanese producers despite the uncertainty. “In 2022 the production was back to pre-pandemic levels and the prices were at the highest we’ve seen for quite a few years,” he explains. 34 | May 2022
PEARL FEATURE | Post Pandemic Pearls “Demand in China was very strong and the weak Yen also helped Japanese exporters in servigin the demands of the Chinese market. With online sales growing at a very rapid pace in China, the demand for pearls and pearl necklaces that were were certified was the highest ever.” Brighter tomorrow Despite a challenging two year period for the industry, optimisim about the future remains a common message coming from various business leaders. Weir-Smith, says Atlas Pearls’ business is stronger having undergone the challenge of operating in the midst of a global pandemic. “Whilst the pandemic presented significant and sudden business challenges, as the world slowly returns to normal, we strongly believe the outcomes from the experience will only enhance our way of doing businesses in the future,” Weir-Smith says. “The past 24 months has seen unprecedented circumstances as a result of the COVID pandemic but has highlighted the importance of our company’s ability to be agile together with a collaborative and cooperative attitude across every aspect of our business and the wider industry. “Whilst we can return to the normalities of travel and the physical connection and presentation of pearls to our customers, the positive outcomes of the digital reach we have achieved during this time will continue to support our on-going marketing strategy and global reach.” For Autore, there were many positives to be found looking ahead to a postpandemic market. “During the pandemic, tourism to Australia was completely blocked, creating difficulties from a retail perspective for the pearl industry,” he explains. “On the other hand, the Australia public was not travelling overseas, so they were spending more on Australian products and supporting local businesses including the South Sea pearl industry. This past year has in fact been once of our best years to date! “Pearls produced from the Pinctada maxima shell, which is the South Sea pearl shell, have the thickest coating of nacre than any other pearl, providing a better quality product with a higher lustre. “This depth in lustre is the most important characteristic, and what we see as the ‘soul of the pearl. Additionally, Australia pearls, which are from the Pinctada maxima shell, are the biggest and best pearls in the world and it is difficult to compare them to the other species. “As the second largest producer and quota holder in Australia, I can confidently say Australian South Sea pearls are widely recognised on the international market as the best and most valuable in the world.” There’s no doubting that the international pearl market has demonstrated a willingness to change and adapt to adversity across the past two years. Businesses are retooled with new skills and platforms. Innovators are working to discover new uses for pearl products and searching for ways to improve methods of production. The industry is better prepared than ever before to face the unknown. Timeless Elegance Luxury Pearl and Opal Jewellery +61 2 9266 0636 enquiries@ikecho.com.au www.ikecho.com.au
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Jeweller - May 2022

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