Jeweller - June 2022

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JUNE 2022
Retrospective
REFLECTING ON THE SIGNIFICANT
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JUNE 2022
Contents
This Month
Industry Facets
15 Editorial
16 Upfront
18 News
40 Jewellers Showcase
26
29
56
58
10 YEARS AGO
Time Machine: June 2012
LEARN ABOUT GEMS
Akoya Pearls
MY BENCH
Danica Roderick
SOAPBOX
Gerri Maunder
33 CAD/CAM FEATURE
Wind back the clock
4It's been a decade of remarkable change for
the Australian jewellery industry with the rapid
rise of Computer Aided Design and Computer
Aided Manufacturing.
Features
33
43
CAD/CAM FEATURE
The digital decade
FANCY COLOUR DIAMONDS FEATURE
Filling the fancy colour void
Better Your Business
43 FANCY COLOUR DIAMONDS FEATURE
Rainbow coalition
4Fancy colour diamonds offer something
for everyone. SAMUEL ORD examines
an industry successfully rebounding from
major disruptions, as the search for the
next great source of supply continues.
50
52
53
54
55
BUSINESS STRATEGY
Social listening! BETH WALKER explains how to make it work for your business.
SELLING
THOMAS YOUNG breaks down the core principles behind retail success.
MANAGEMENT
Negativity can be overwhelming. PAUL KEIJZER shares tips on handling the pressure.
MARKETING & PR
DAVID BROWN shares a formula for standing out amongst the crowd.
LOGGED ON
HEATHER COOPER explores the many benefits blogging can bring a jewellery business.
29 LEARN ABOUT GEMS
Akoya Pearls
4Akoya pearls are always a popular
choice for consumers as they represent
classic style and sophistication.
FRONT COVER This beautiful 2.88-carat diamond
named "The Robin" presents a delicate mix of blue
and green as a result of natural radiation during
growth. Graded by GIA as Fancy Intense Blue-
Green, SI2 and exhibiting a blue fluorescence, the
diamond is reminiscent of an enchanting robin bird
egg. The Robin is accented by two white diamonds
of VS clarity totalling 1.04-carats and set in a fine
platinum ring. LJ West Diamonds is a specialist in
rare fancy colour diamonds with three generations
of knowledge and experience, and was one of the
earliest Argyle Pink Diamond authorised partners.
To learn more visit: ljwestdiamonds.com
June 2022 | 13

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Editor’s Desk
Leaving the pandemic blues in the dust
As the industry bounces back from the ravages of COVID-19, there have been many ‘positives’ over the past two years.
ANGELA HAN says the sentiment should remain optimistic for the upcoming Sydney trade fair.
I think it’s fair to say that in the depths
of the global pandemic, not too many
people would have predicted the
international jewellery industry would
have seen such an upsurge in sales.
The financial results of many of the
world’s largest brands during and
‘after’ COVID surely surprised the most
optimistic pundits.
Consider for instance, the financial results
by the big brands reported over the past
12–18 months.
For example, Pandora operates 2,700
stores in 100 countries worldwide and
last year reported a record revenue of
$US3.5 billion ($AU5.09 billion) despite
the many challenges of the second year of
the pandemic.
The good news has continued in 2022,
with Pandora revising predicted sales
increases to 4-6 per cent after the release
of its first quarter data.
It was a similar story for Swiss luxury
goods company Richemont, which
reported a record all-time high full-year
sales performance ending 31 March.
A Richemont spokesperson has attributed
the performance to the progressive easing
of COVID-related health restrictions in key
markets worldwide.
Sales performance for the financial year
2022 increased by 46 per cent to €19.18
billion ($AUD28.64 billion) compared with
the same period in 2021 at €13.14 billion
($AUD19.62 billion) and a 35 per cent
increase based on a two-year difference.
What’s going on in our backyard?
If Retail Edge’s data from its 400-strong
database of jewellery stores is anything to
go by, industry optimism is well-deserved
given positive results for at least six
months, despite the doom and gloom
‘pandemic hangover’ predicted by other
retail analysts.
The data collected from retailers in April
shows that comparative overall sales
dollars have increased by nine per cent
compared with April 2021. That’s a 240 per
cent increase compared with the figures
from April 2020!
with April 2021 but a strong 222 per cent
boost compared to April 2020. It’s fair to
say, the year has been better than anyone
would have expected.
So now with the stage set, we are only a
handful of weeks away from the muchanticipated
International Jewellery Fair
in Sydney (27-29 August) – and it’s been
quite the wait for many.
If recent industry meetings are anything
to go by, this year’s fair is likely to be a
landmark celebration of the trade at large.
Local success stories
The boutique-style Australian Jewellery
Fair was hosted in March and described
by organisers and attendees alike as “an
overwhelming success.” More recently,
strong sales were reported at the buying
days of Nationwide Jewellers’ and
Independent Jeweller’s Collective annual
conferences in Queensland.
Indeed, one supplier who attended both
conferences reported that the sales her
business had achieved was overwhelming
which she put down to pent-up demand.
Spread out across three days, the
Nationwide event showcased 49 suppliers
across 88 tables.
From what we’ve been told, for the first
time in the 30 years the event has been
running, some buyers were asked to hurry
and conclude their orders because the
doors were about to close. Imagine being
so busy that you have to usher out your
customers before closing time!
Some common feedback that has been
relayed as the industry climbs back to
it’s feet, is that increasing adoption of
tech-based solutions (i.e. advancements
in customer-relationship and stock
management software) in the jewellery
industry has made it easier for retailers
and suppliers to accomplish all sorts
of tasks – but there’s still nothing like
meeting face-to-face.
Online we can document a history of
communication, stick with agendas and
schedules, and reduce the overhead costs
associated with the trade, such as travel.
But what has this sacrificed in return?
Indeed, one
supplier who
attended both
conferences
reported that
the sales her
business had
achieved was
overwhelming
which she put
down to pent-up
demand.
to-face communication is still far more
engaging than chatting through a laggy
webcam video, or strained listening to
warbled audio.
It’s simply easier to collaborate, innovate,
and strengthen business relationships
in person, not to mention being fully
immersed in the experience of a product.
It’s become clear through COVID
that touching and feeling jewellery is
important in purchasing decisions for both
businesses and consumers.
Sure, there’s been many creative
workarounds to keep the economy moving
during the pandemic – Zoom, Skype,
Webex, pick your poison!
And while they’ve kept us going, they can
never replace the feeling of someone’s
hand in your hand during a solid
handshake (but don’t forget your hand
sanitiser!)
Of course, when it came down to businessto-business,
many people learned that
virtual shows were a disaster. Usually the
only people who did well were the people
running them, charging exorbitant fees for
the privilege of sitting by a computer.
What we learned from COVID and its
accompanying restrictions, is that offline
shopping at brick-and-mortar stores
remains a critical part of life and important
for one’s mental health.
Seeing one another face-to-face allows
us to pick up on nonverbal cues and body
language in our interaction; from a simple
smile to a thank-you, physical engagement
help us to read between the lines and
better meet one another’s needs.
It’s no wonder that almost every person I
speak to can’t wait to gather in August for
the first Sydney trade fair in three years.
While technology was an excellent
temporary bridge during times of division
during the pandemic, most are ready to
go back to the good ‘old days’ to conduct
business, shake hands and share a few tall
tales… but above all, be immersed in the
joy of unexpected discoveries like bumping
into a friendly old face while standing in
line for coffee, an experience that certainly
cannot be replicated online.
Comparative units sold data reveals a
small decrease of 2.3 per cent compared
I have come to believe, despite being a
‘product’ of the digital era, that face-
Angela Han
Publisher
June 2022 | 15

Upfront
#Instagram hashtags to follow
#pearlsjewelry
170,477 POSTS
#jewelrytrends
1,000,000 POSTS
#jewellerygifts
464,000 POSTS
#treasurejewels
1,023 POSTS
#diamondgirl
124,000 POSTS
HISTORIC GEMSTONE
Atocha Star
#tiara
3,400,000 POSTS
#necklacedesign
187,000 POSTS
Alpha Order
#watchesandwonders
31,800 POSTS
#diamondlife
971,000 POSTS
#pearlsnecklace
43,672 POSTS
Discovered in Colombia, the Atocha Star is an
emerald weighing more than 25.87-carats.
The gemstone was cut down to 12.72 carats in
1992. The Atocha Star is 400 years old and is
estimated to be worth more than $US3 million.
It is currently mounted on the claws of a solidgold
eagle weighing more than eight kilograms.
The piece is known as The Golden Eagle. In
1622, the emerald was on a Spanish treasure
galleon that sank off the coast of Florida
during a hurricane. American treasure hunters
discovered the sunken galleon after more than
15 years of searching in 1985. In May of 2016, the
Golden Eagle (along with the Atocha Star) was stolen in
Vancouver, Canada, while being loaded into a vehicle. The Golden
Eagle had been on display at a museum and has not been
recovered in the six years since the theft.
Trend Spotting
4A popular throwback to the 1980s
has undergone a revival in popularity
in recent weeks with large pearls
drawing plenty of attention at a range
of major fashion shows. Playfully
known described as 'gobstoppers'
pearl necklaces, among other items,
were presented by Versace, Givenchy
and Dolce and Gabbana.
Image credit: Givenchy
Image credit: Brilliant Earth
Stranger Things
Weird, wacky and wonderful
jewellery news from around the world
Playboy's tiara for sale
4A tiara that once belonged to
British aristocrat Henry Paget,
the 5th Marquess of Anglesey, is
being sold in by London jeweller
Hancocks. Paget (1875-1905) was
the original owner of the tiara
which features diamonds totaling
more than 100 carats. Paget
inherited great wealth after the
passing of his father, in excess of
$AU100 million in today's money,
but squandered it all within five
years. The tiara was worn at the
coronation of Queen Elizabeth II.
Frankenstone
4A 2.38 brown colour diamond
has been discovered by one
lucky man in Arkansas' Crater of
Diamonds State Park. Adam Hardin
has been searching for gemstones
for more than a decade. The park
is a well-known location to hunt
for diamonds and is popular with
tourists. Hardin has nicknamed the
diamond 'Frankenstone'. A 4-carat
yellow diamond was discovered in
the same park last year.
With consumers
valuing provenance,
De Beers has
developed Tracr,
a program that
tracks diamonds.
Digital Brainwave
4De Beers Group CEO Bruce Cleaver has
confirmed that the development of Tracr, a
blockchain-based platform that aims to track
diamonds from mine to retailer, was spurred
on by Russia's invasion of Ukraine and the
ensuing political fallout.
“We’ve been working on traceability for a long
time," he said. "We always thought the day
would come when traceability would become
an issue and that consumers would want to
know exactly where the diamond had come
from. We had to accelerate Tracr as a result
of the Russian crisis, no question.”
Campaign Watch
4Brilliant Earth withdrew a promotion
offering 'free diamond earrings' earlier
this month following a complaint from
rival retailer Blue Nile. Brilliant Earth
voluntarily withdrew the advertisement
as it did not disclose the fact that the
diamonds offered were lab-created and
not mined. Blue Nile filed a complaint
to the industry watchdog, the National
Advertising Division. Brilliant Earth
discontinued the promotion before any
formal ruling was made.
One charge dropped
4Fugitive jeweller Mehul Choksi
has one less legal battle to face after
Dominica withdrew a charge of 'illegal
entry' this month. Choksi has been
evading charges of fraud, totaling
more than $US1.8 billion, since 2018,
leaving India for Antigua and Barbuda.
Last year, Choksi was charged by
officials in Dominica with illegal
entering the island. Choksi's legal
team claims he arrived at the island
as a result of a violent abduction from
his home in Antigua.
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY
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News
RapNet bans Russian product
Nationwide's annual conference a raging success
The world’s largest online diamond trading network,
RapNet, has banned the exchange of Russian-sourced
diamonds from the platform.
RapNet’s ban applies to all diamonds sourced from
Russia after 24 February, the day the invasion of
Ukraine began.
The ban also includes polished diamonds
manufactured outside Russia from Russian rough.
Companies more than 50 per cent owned by
sanctioned entities are also prohibited.
Martin Rapaport, chairman of the Rapaport
Group, released a statement predicting a future
shortage of rough diamonds.
''We are very pleased with the strong start to the year,
delivering record revenue for a first quarter,” said
Martin Rapaport.
“Sanctions on Russia are fundamentally changing the
diamond supply chain. Buyers want assurances as to
the source of their diamonds,” Rapaport said.
“Ethical considerations are transcending legal
requirements as buyers reject Russian source
diamonds cut outside of Russia.
“Financial sanctions have stopped imports of rough
diamonds to the cutting centers and natural diamond
shortages are likely before the holiday season.”
RapNet was formed in 1996 as the Internet Diamond
Exchange (INDEX). Today, more than 1.8 million
diamonds are listed with a total value exceeding $US8
billion.
This isn’t the first time RapNet has implemented a ban
on the trade of diamonds based on ethical concerns at
the point of origin.
In 2009, RapNet suspended the trade of all Marange
diamonds sourced from Zimbabwe, citing extensive
human rights abuse which occurred during
government crackdowns on illegal mining operations.
The US and EU have hit Russia with extensive
economic sanctions since the invasion of Ukraine in
late February, including sanctions directly targeting
Alrosa, Russia’s largest diamond mining company.
Russia accounts for approximately one-third of the
world’s supply of diamonds, with Alrosa responsible for
mining more than 90 per cent of those diamonds.
Nationwide Jewellers’ celebrated 30 years of
business with a three-day conference which has
received rave reviews from attendees.
This year’s conference was titled ‘Time Out-
Time to Shine’ and ran from 13-15 May in
Brisbane.
More than 140 members representing 88
stores attended while a record 49 suppliers
participated in the buying conference with
exhibitions spread across 84 tables.
These numbers were particularly pleasing
becaue only seven New Zealand members
were able to attend due to pandemic travel
restrictions.
Nationwide general manager Glen Pocklington
said it was great to see so many industry faces
gathering in person again.
“We are very pleasantly surprised,” Pocklington
said.
“The enthusiasm of members this year starting
with the welcome function, and right through to
our members’ dinner, was amazing. Members
were truly happy to meet face-to-face again
with their many friends from the Nationwide
membership.
“There were many highlights. The keynote
speaker, our assessment of the industry and
outlook for the next 12 months, our many
diamond initiatives including our announcement
for Forever Custom, networking during the
happy hour, and of course staying in a 5-star
hotel for free as a part of our member reward
program.
“Everyone was just so happy to be there.”
This year’s keynote speaker was best-selling
author Andrew Griffiths, author of 14 books
on small business strategy. Griffiths spoke to
jewellers about important trends impacting
retailers in 2022.
Nationwide membership manager Erin
Keller said the feedback following Griffths’
presentation was glowing.
“We found members were even more positive
than normal about our keynote speaker, Andrew
Griffiths, than we anticipated,” she said.
“His down to earth marketing ideas really
resonated with members. Many found
themselves taking notes, and speaking later
with several other members about their positive
reactions, and the inspiration found from the
guest speaker.
“Overall, we are very pleased with the turnout
from both members and suppliers, and found
that besides the buying day being so successful,
many were pleased to reconnect after so long.”
Following two years of disruption due to the
COVID pandemic, retailers and suppliers alike
would be justified in feeling apprehensive about
a permanent return to uninterrupted trade.
Nationwide’s managing director Colin
Pocklington said that after witnessing a busy
buying day at the conference, the general
sentiment coming from the industry remains
positive.
“We would have to say our members are very
optimistic based on the buying day, which is
expected to achieve a record result,” he said.
“The buying room was busy all day, and for
the first time in the group’s 31-year history,
members had to be asked to conclude their
ordering as the event was about to close. Whilst
exact numbers will not be known for a few
weeks, a number of suppliers have reported
that the event was their best buying day at any
group event ever."
Pocklington added that many members used
all of their Conference Cash allocation with up
to $60,000 in interest-free finance for spending
with suppliers at the buying day.
18 | June 2022

News
‘The Rock’ falls short, Red Cross
diamond sets record for yellows
Featuring the delicate pink tone
of Argyle pink diamonds
Holding 'The Rock', a 228.31-carat pear diamond is Christie’s international head of
jewellery, Rahul Kadakia. Source: Christie's.
Christie’s Magnificent Jewels auction took place on Wednesday (11 May)
and the lead item, a 228-carat white diamond named ‘The Rock’, was
sold for more than $US21 million.
The Rock is believed to be the largest polished white diamond to be
auctioned. Pre-sale predictions were more than $US30 million; hoping
that it would surpass a record set by a 163-carat diamond sold by
Christie’s Geneva in 2017.
That wasn’t to be, however, with The Rock settling for $US21,894,082
($AU31,655,076), purchased by an anonymous buyer.
More than 90 per cent of the items listed at the auction were sold, with
sales exceeding $US69 million ($AU99 million).
The second most expensive item sold was ‘The Red Cross Diamond’, a
205-carat fancy intense canary yellow cushion cut diamond.
Pre-sale estimates projected that the diamond would garner $US10
million, a target which was comfortably exceeded as an anonymous
bidder claimed the item for $US14 million ($AU20 million).
In the lead-up to the auction, the diamond's owner stated that a
‘significant’ portion of the proceeds would be donated to the International
Committee of the Red Cross.
International head of Christie’s Jewellery, Rahul Kadakia, said registrants
from more than 20 countries took part in the auction.
“Weighing 228.31 carats, The Rock is the largest white diamond ever to
appear for sale at auction. The final lot of the auction presented another
extraordinary gemstone of over 200 carats, the sensational Red Cross
Diamond," he said.
“Over a century since that first sale, the diamond sold after 11 minutes
of competitive bidding for 14.1 million francs ($AU20.46 million), a world
auction record for a fancy intense yellow diamond.
“We are delighted that a significant share of the proceeds will benefit the
humanitarian efforts of the International Committee of the Red Cross.”
Another item of note sold at this auction was the Fürstenberg Tiara,
created by famous Austrian jeweler Gustav Flach. The tiara carries 19th
century natural pearls, as well as diamonds, and early estimates hoped
the item would fetch a minimum of $US400,000 ($AU578,000).
The Fürstenberg Tiara was awarded to an anonymous bidder for a final
price of $US2.4 million ($AU3.4 million), well-and-truly exceeding the
estimate.
E pink@samsgroup.com.au W samsgroup.com.au P 02 9290 2199

News
Strong jewellery sales performance continue in April for Australian retailers
Jewellery retailers are four months into 2022 and
there’s been on-going and noteworthy positive
trends according to the latest data released by
Retail Edge.
The data collected from retailers in April shows that
comparative overall sales dollars have increased
by nine per cent compared with April 2021. That’s
a huge 240 per cent increase compared with the
figures from April 2020, however, it’s important to
remember that’s when COVID-19 lockdowns first
began in Australia.
Comparative units sold data reveals a small
decrease of 2.3 per cent compared with April 2021
but a strong 222 per cent boost compared to April
2020.
The comparative average sale, in inventory only,
continues to climb and has increased by 12 per cent
compared with April 2021, climbing from $205 to
$230. This pattern is the result of activity through
the product categories, with growth in fine jewellery
strongly influencing the average sale figures.
April has demonstrated growth across many of the
product categories. Further analysis of the sales
dollars data reveals diamond set precious metal
jewellery has increased by 17 per cent compared
with the same period of time in 2021 and by 292
per cent on the two-year difference looking back at
2020.
Colour gemstone set precious metal jewellery
sales dollars have improved, climbing 15 per cent
compared with April last year.
That product category shows an even larger
increase of 279 per cent winding back the clock
to April in 2020, again, because of the impact of
COVID-19 lockdowns.
Retail Edge sales manager Michael Dyer said the
data was pleasing: “These numbers continue to
show a confident and stable consumer mindset.”
“It’s heartening to see that diamond month had
period growth.”
Dyer added, “No stone precious metal jewellery
sales dollars have also continued strongly again to
be 14 per cent improved compared with April 2021,
and it was an exceptional result of 253 per cent
growth on the two-year difference to April 2020”.
Silver and alternative metals jewellery sales
dollars dipped slightly with a 2.2 per cent decrease
recorded compared with April 2021.
The pattern in laybys showed a decrease of nine
per cent in dollars between new purchases and
collections and cancellations. This is emblematic of
the collection and enjoyment cycle rather than the
preparation and demand cycle.
This also means that anticipated cashflow will be
reduced.
Service and repair work demonstrates a similar
pattern with a decrease of 29 per cent between
incoming and pick-ups and cancellations. The
special order numbers also show a similar pattern
with a decrease of 22 per cent between incoming
and collections and cancellations.
Retail Edge’s analysis is gathered from POS
software located in more than 400 Australian
independent retail jewellery stores. The data is
intended to present a representative sample of the
wider Australian jewellery industry.
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www.millenniumchain.com.au

News
De Beers digital platform launched
De Beers' Tracr aims to provide trust in provenance for customers and traders alike,
and will be used to identify inefficiencies within the value chain.
De Beers Group has launched a blockchain-backed diamond sourcing
platform.
The program is named Tracr and aims to offer improved trust in
diamond provenance for consumers and traders, and will also be used
to identify potential inefficiencies within the value chain.
The term ‘blockchain’ is used to describe a distributed database that
is shared among nodes within a computer network. Blockchains
have gained fame in recent years for the crucial role they play in
cryptocurrency systems.
The technology stores data in blocks that are then linked together via
cryptography. Decentralised blockchains are immutable, which means
the data entered is irreversible. For a program such as Tracr, this means
that transactions are permanently recorded and viewable.
Each participant on Tracr has their own distributed version of
the platform, which allows their data to be shared only with their
permission.
The nature of each transaction on the platform ensures that the data
cannot be tampered with when the diamond moves through the supply
chain. The decentralised platform ensures its speed and scalability, with
De Beers claiming the program has the ability to register one million
diamonds per week.
CEO of De Beers Group Bruce Cleaver said the program was only the
beginning of a technology overhaul for the industry.
"De Beers discovers diamonds with our partners in Botswana, Canada,
Namibia and South Africa and, with our long-term investment in Tracr,
we are proud to join with our sightholders to provide the industry with
immutable diamond source assurance at scale.
“Tracr, which will enable the provision of provenance information from
source to sightholder to store on a secure blockchain, will underpin
confidence in natural diamonds and represents the first step in a
technological transformation that will enhance standards and raise
expectations of what we are capable of providing to our end clients."
In 2020, De Beers worked with five diamond manufacturers – Diacore,
Diarough, KGK Group, Rosy Blue NV and Venus Jewel – and tracked
100 diamonds as a part of a trial of Tracr. A digital trail was created
documenting journey of each diamond as it moved from mine to cutter
to polisher and finally to jeweller.
The program’s development phase began in 2018 and De Beers has
registered one quarter of its production (by value) on Tracr in the first
three sights of the year in preparation for this first scale release.

News
Nationwide Jewellers to play crucial role in Global Jewellers Network
Three major independent jewellery buying groups
have joined forces and launched a new collaborative
project, the Global Jewellers Network.
Nationwide Jewellers has entered a new
collaboration with The Company of Master
Jewellers (CMJ), based in the UK and Ireland, and
Independent Jewellers Organisation (IJO), based in
the USA and Canada.
Representatives from the three organisations are
expected to meet face-to-face for the first time in
Antwerp, Belgium in September. Nationwide has
more than 400 members in Australia, New Zealand
and Fiji and, collectively, the three groups represent
more than 1,500 independent jewellery stores
across nine countries.
Nationwide’s managing director Colin Pocklington
said the project would present exciting new
opportunities for Australian retailers.
“The groups will share information on new products
and suppliers. Sharing successful marketing,
training and education programmes will benefit
members from all three groups,” he said.
“In fact, IJO has just referred to us one of their
new suppliers who is achieving excellent growth
amongst their members. We are working with this
supplier with the aim of launching an exciting offer
to members at the [Sydney] International Jewellery
and Watch Fair.
“For our members, being part of a global
collaboration of the leading jewellery groups in
the world, representing over 1,500 stores, is a big
plus. It will certainly give even more confidence to
consumers when visiting one of our members.”
Nationwide Jewellers and IJO have been
collaborating since the 1990s, exchanging guidance
and resources. Pocklington said the two groups first
explored formalising the partnership three years
ago.
“We have been collaborating with IJO since 1999,
resulting in benefits for both of our groups. In 2019
we decided that it would be a good idea to contact
The Company of Master Jewellers in the UK, to see
if they would be interested in participating in a more
structured three-way collaboration with Nationwide
and IJO.
“Following our initial contact, Erin Keller,
our membership manager, visited the CMJ
headquarters in Rugby, England in early 2020 to
meet with their executive team.
“Following the meeting with the CMJ, we then set
up a series of Zoom meetings from mid-2020 to
now with Jeff Roberts (IJO) and Emmet Cummins
(CMJ) and myself. The launch of the Global
Jewellers Network took longer than we had hoped
– with COVID lockdowns, and the need to focus on
supporting members in each of our markets.”
Independent Jewellers Organisation president
Jeff Roberts said his group was eager to share the
knowledge they’ve acquired over more than five
decades of operation.
“For the past 50 years IJO has helped build
successful, profitable retail jewellery stores for
literally thousands of IJO business owners, their
employees and their families by leveraging the
combined buying power and brainpower of our
group,” he said.
The Company of Master Jewellers managing
director Emmet Cummins said his group would be
making the most of the opportunity to learn from
two established industry forces.
“The CMJ hugely admires what Nationwide
Jewellers and the Independent Jewelers
Organisation have achieved in their respective
markets,” he said.
“There are a number of areas where both
organisations are considerably more established
and advanced and this is of great interest to the
CMJ.”
The International Watch and Jewellery Fair is
scheduled for 27-29 August in Sydney.
Pandora anticipates continued growth following Q1 analysis
Following the release of 2022’s first quarter data,
the Pandora Group has revised its forecast and is
now predicting sales growth of between 4-6 per
cent for the year.
Pandora reported record revenue in Q1, rising 21
per cent on a year-on-year ‘organic basis’, a similar
metric to total store sales. The company generated
total sales of 5.7 billion kroner ($AU1.15 billion)
in sales for the period beginning in January and
concluding in March.
In Q1 of 2021, Pandora reported total revenue of 4.5
billion kroner ($AU910 million).
The positive figures come despite the continuing
burden of the COVID pandemic in some locations,
as well as Pandora’s response to the invasion of
Ukraine in late February. Pandora has closed all
stores in Russia, Belarus and Ukraine as a result of
the conflict, however, revenue generated from those
locations amounted to approximately 1 per cent of
total global sales in 2021.
Pandora CEO Alexander Lacik said the company
was anticipating more growth on the horizon.
“We are very pleased with the strong start to the
year, delivering record revenue for a first quarter,”
said Pandora CEO Alexander Lacik.
“I am encouraged by the growth opportunities we
have ahead of us. For the last two years, we have
invested in building a stronger organisation, and
this is increasingly visible in the numbers and how
we drive the company forward.”
Not everyone is as optimistic about the market
prospects for Pandora moving forward, particularly
when it comes to online sales.
Freetrade investment writer Gemma Boothroyd
spoke to Professional Jeweller following the
release of the Q1 figures.
“Personalised products are Pandora’s crown jewel.
But they might turn out to be the thorn in its side
too,” she said.
“Online marketplaces and social media have
changed the game, and it’s turning out to be a
challenge for jewellery behemoths like Pandora.
“While its online sales have doubled on 2019,
they’re now sitting 17 per cent below 2020’s figures.
Frankly, the firm’s 2019 baseline comparable for
online sales was astonishingly low given the firm
was relatively slow to digitise.”
Pandora is headquartered in Denmark and
has extended to more than 2,700 stores in 100
countries. The company employs 27,000 people.
24 | June 2022

News
New Zealand's Floeting Diamond recognised with prestigious design award
The potentially revolutionary work of New Zealand
jeweller Ian Douglas has been acknowledged with
an award for Product Design at the 2022 Red Dot
Design Awards in Germany.
The potentially revolutionary work of New Zealand
jeweller Ian Douglas has been acknowledged with
an award for Product Design at the 2022 Red Dot
Design Awards in Germany.
Douglas is the founder of The Village Goldsmith.
He spent more than two decades developing what’s
known as the ‘Floeting Diamond’ - a diamond-set
jewellery collection without metal clasps or claws.
The Floeting Diamond was launched in 2021 by
VG Jewelers as an innovative approach to solitaire
diamond setting. The design eliminates traditional
claws, clasps and prongs which hold diamonds in
their setting. Prongs impede the light return and
sparkle of the diamond and obstruct the view of the
gemstone.
aesthetics, quality, durability, functionality, and
symbolic and emotional content.
The Floeting Diamond nomination featured
diamond studs, a pendant necklace, and a solitaire
ring.
“Less is more – this formula fully applies to the
jewellery series The Floeting Diamond,” the jury’s
statement reads.
“The focus is on sparkling diamonds, set in a way
that the entire attention is drawn to the brilliance
of the gemstones. Almost invisible, the bezel is
remarkable for more than one reason. It is made
of a special space-age titanium that is combined
with high-quality gold and platinum and provides
particularly long and secure hold for the cut
diamonds.”
The standard six-claw diamond setting technique
has been used since 1886.
New Zealand Jeweller Ian Douglas is the Product Design
award winner at the 2022 Red Dot Design Awards.
The Red Dot Awards feature more than
18,000 design professionals, companies, and
organisations from more than 60 countries each
year. This year’s Red Dot jury comprised 50
international designers, design professors, and
journalists from 23 countries.
Red Dot Product Design awards are judged on
for all enquiries email:
or call:

10 Years Ago
Time Machine: June 2012
A snapshot of the industry events making headlines this time 10 years ago in Jeweller.
Historic Headlines
4 Hong Kong jewellery fair bigger than ever
4 Online retailers dodging GST
4 Rio Tinto to share the story of its diamonds
4 Jeweller Paul Dracakis awarded OAM
4 Harry Winston buys back pink diamond for $17.4M
STILL RELEVANT 10 YEARS ON
Think before you post
Many are only conscious of what the last
‘w’ in ‘www’ stands for as they embrace the
‘web’ of communication opportunities. Not
being conscious of the fact everything you
post instantly becomes ‘world wide’ gives
people the confidence to write things they
would never say in an open forum.
READ ALL HEADLINES IN FULL ON
JEWELLERMAGAZINE.COM
Napoleon’s jewellery hits
National Gallery of Victoria
An impressive array of Napoleon Bonaparte’s
belongings arrived in Australia at the National
Gallery of Victoria (NGV).
The collection not only includes luxurious
jewellery, watches and silverware, it
demonstrates Napoleon’s links to Australia.
The exhibition includes jewellery and other
luxury items as well as an impressive collection
of furniture, paintings and ornaments.
Also on display are Napoleon’s uniforms,
decorative weaponry and trademark hat as well
as his first wife’s (Josephine) jewellery, books
and silverware, all of which showcase the powercouple’s
status and wealth.
The NGV worked in collaboration with The
Foundation of Napoleon in Paris to lend more
than 100 of its greatest treasures to the winter
exhibition. Some exhibits were already housed
in Australia.
Bevilles Jewellers closes
Queensland stores
After a five-year foray into Queensland,
jewellery chain Bevilles will close its two
suburban Brisbane stores by the end of July.
Bevilles’ stores in Chermside and North Lakes,
which opened in 2006 and 2007 respectively
will close in the coming weeks as the retailer
shifts its focus back to its Victorian and NSW
operations.
Michelle Stanton, managing director Bevilles,
told Jeweller that the decision was made not
to renew leases because the stores were not
achieving adequate turnover, despite
impressive foot traffic.
June 2012
ON THE COVER Changing the Face of Retail
Editor’s Desk
4Can you hear the noise?: “You are,
obviously, holding a very different
edition of Jeweller. Not only is it a
bumper, 68-page issue, but it’s almost
wholly devoted to the digital age.
More precisely, this issue focuses on
the increasing importance of social
media and the role it plays in changing
consumer behaviour.
We all know how the internet has
changed business and we’ve already
witnessed the staggering growth of
e-commerce. While the jewellery
industry has often been accused of
being slow to embrace the digital age,
I believe we are witnessing another
seismic shift, even though many in the
industry are already way behind the first
shift.
My observation - not prediction! - is that
social media has passed the fad stage
and is now a trend, the difference being
that trends are short-lived behaviour
whereas a trend develops into a
permanent change.
The worrying thing is not only that
many retailers and suppliers are so
far behind that they can’t see - or fail
to acknowledge - how new media has
changed the way consumers shop, but
that the same retailers and suppliers
are going to find it almost impossible to
play catch up.”
Nationwide conference sizzles
Nationwide Jewellers took its annual winter
conference to the toasty surrounds of Darwin
this year, and reported a roaring trade and a
genuinely fun experience.
The buying group had announced several new
products in the months leading up to the annual
conference, and received impressive feedback
about the new offerings from the 135 retail
members that attended.
Nationwide director Collin Pocklington said he
was pleased with members’ response to the new
initiatives, and noticed a strong interest in Gabi
Tolkowsky’s new Astralis diamond cut.
“[The Astralis went] exceptionally well,” he told
Jeweller. “All day we had people queued up for a
chance to buy them. It could quite possibly be the
biggest product launch we’ve ever done.”
Police raid Westfield retailer for
counterfeit jewellery
Police seized hundreds of counterfeit jewellery
and fashion accessories in a raid on a Sydney
shopping centre last week.
Police allegedly discovered 172 counterfeit items
on display, with more than 1,000 other counterfeit
products in storage.
The falsely branded goods, which included rings,
earrings, watches, money clips and more, were
being promoted as authentic but sold cheaply. The
Hurstville store’s inventory was estimated to be
worth around $300,000 if given the pricing of the
products they were imitating.
Police expect to charge a 34-year-old female
store-owner with several offences, including
selling fake trademarked goods.
C
M
Y
CM
MY
CY
CMY
K
26 | June 2022

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Gemmologist and Diamond Technologist
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REVIEW
Gems
Pearls Part III: Akoya
Above: Yoko London; Tasaki; David Morris
Below: Mikimoto
Typically round in shape, white or cream
in colour with a pinkish overtone, and
possessing a high lustre – Akoya pearls
are a classic. For consumers of the western
world, these saltwater cultured pearls are
the most popular choice.
Unlike the more limited oyster species
that produce South Sea or Tahitian
pearls, Akoya pearls may grow in any
Akoya species complex consisting of
the Pinctada fucata, martensii, radiata,
and imbricata.
These species of oyster are relatively
small and generally produce pearls with
an average diameter up to 8mm, and
much more rarely up to 10mm.
Keshi Akoya – pearls accidentally
produced, as a by-product of the
cultivation process – can be as
small as 0.7mm.
A renowned figure in the pearling world
- Kokicki Mikimoto was the first to bring
cultured pearls to the market after his
experiments with cultivating Akoya pearls
via the Nishikawa-Mise method. Mikimoto
was established in 1893, followed by the
consistent production of pearls circa 1916.
Before these Akoya cultured pearls
became commercially significant around
the 1920s, pearls were only natural,
rare, and very expensive. Cultivating
pearls meant new demographics could
now enjoy what was once reserved for
the elite.
By the 1960s, the pearling industry
was an essential contributor to Japan’s
economy following World War II. So much
so that Japan introduced a prohibition on
the culturing of Akoya pearls in foreign
countries in an effort to keep the secrets
of cultivating pearls within Japan.
Eventually, a combination of factors led
to the decline of Akoya pearl production
in Japan and a shift, as China became a
significant producer of Akoya pearls.
Today, Akoya pearls are still grown in
Japan and China, in Vietnam, and since
1999 – right here in Australia.
Unlike the Japanese and Chinese Akoya
pearls - known for their thin layers of
nacre (0.2mm-0.5mm) and standard
bleaching and dye processes to alter
colour - Australian Akoya pearls boast
a longer cultivation period of 18 months
(allowing thicker nacre production) and no
treatments post-growth.
Situated on the central coast of New
South Wales, the Broken Bay pearl
farm climate is ideal for the Akoya pearl
species, Pinctada imbricata fucata. Here,
the Australian seeders producing these
Akoya pearls are trained in the way of the
traditional Japanese method and receive
regular visits by Japanese specialists
during harvest season.
In addition to their nacre quality,
Australian Akoyas come in a variety of
colours besides the traditional white.
Akoya Pearl
Produced by the
Pinctada fucata,
martensii, radiata,
and imbricata oysters
Colour: Multiple
Found in: Australia,
Japan, China, Vietnam
Mohs Hardness: 2.5 - 4
Lustre: Sharp
Formula: CaCO ³
Oranges, greens, dark blues, deep silvers,
and light to deep golden hues all naturally
occur without treatment.
An on-going challenge in identifying the
origin of pearls is particularly prevalent
for saltwater pearls in the white to silver
hue range, such as Akoyas, as they all
form in various Pinctada oyster species.
For a typical gemmologist without
access to sophisticated laboratory
equipment, examination of the drill hole
remains the most useful in separating
a bead-nucleated cultured pearl from a
natural pearl.
Upon close examination, the drill hole in
an Akoya pearl will show a disconformity
where the nacre ends, and an organic
layer covering the shell bead begins –
called the conchiolin.
The layer will often be bleached and dyed,
which is a common and accepted practice
for Akoya pearls. This visible layer is
distinct from a natural pearl's continuous
concentric layers of nacre.
Mikaelah Egan FGAA Dip DT
began her career in the industry at
Diamonds of Distinction in 2015. She now
balances her role at the Gemmological
Association of Australia with studying
geology at the University of Queensland.
Visit instagram.com/mikaelah.egan
For more information on gems and
gemmology, go to www.gem.org.au
June 2022 | 29

WORLD RANKINGS OF JEWELLERY
INDUSTRY PUBLICATIONS
As at 31 March 2022, Jeweller was ranked 65,246, in the world, well
ahead of other jewellery industry titles in more populous countries.
For example, the US magazines JCK, Instore, and National Jeweler,
ranked 87,514, 222,301 and 250,243 respectively, even though the
population of the US is much larger than Australia.
POSITION PUBLICATION COUNTRY
WORLD
RANKING
1 Jeweller Australia 65,246
2 JCK USA 87,514
3 Instore Magazine USA 222,301
4 National Jeweler USA 250,243
5 Retail Jeweller India 264,557
6 Jewellery Net Asia Hong Kong 371,672
7 Diamond World India 515,279
8 Professional Jeweller UK 550,812
9 Solitaire Magazine Singapore 842,952
10 Retail Jeweller Magazine UK 1,019,888
11 Indian Jeweller India 1,077,502
12 The Jewelry Magazine India 1,195,354
Leaders and numbers
have one thing in common...
13 Jewellery Outlook UK 1,212,803
14 Jewellery World Australia 1,226,650
15 Art of Jewellery India 1,237,318
16 Jewellery Focus UK 1,290,905
17 Jewellery Business Canada 1,388,929
18 Jewellers Network South Africa 1,436,224
19 Jewellery Monthly UK 2,196,837
Jeweller has been the leading voice of the Australian and New Zealand jewellery
industries for 25 years, and today we rank #1 in the world.
Alexa, the independent global ranking system for measuring website traffic and
readership, now ranks jewellermagazine.com as the most widely read industry
publication in the world – by far!
Better still, the daily time spent on jewellermagazine.com is more than 21 minutes,
which far exceeds all other international publications, which average only 2–3
minutes per visitor. Moreover, our ‘page views’ is miles ahead of all other industry
publications.
In addition, Jeweller’s social media presence dominates and our eMags boast more
than 12.3 million reads.
The numbers speak for themselves - follow the leader, and follow the readers too!
20 Canadian Jeweller Canada 2,670,625
21 The Retail Jeweler USA 3,218,391
22 Preziosa Magazine Italy 3,582,030
23 Gold Book Magazine Turkey 4,099,295
24 Bangkok Gems & Jewellery Thailand 4,558,422
25 Hong Kong Jewellery Magazine Hong Kong 6,296,819
26 The New Jeweller UAE / India 10,992,912
27 Jewel Trendz India NO DATA
28 Solitaire International Singapore NO DATA
29 Jewellery Time New Zealand NO DATA
POSITION
TRADING PLATFORM /
PUBLICATION
COUNTRY
WORLD
RANKING
1 Rapaport Magazine* USA 139,695
2 Idex* Israel 370,487
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY
Denotes titles connected to diamond trading platforms / publication

NUMBER OF PAGES VIEWED BY READERS
TIME SPENT ON JEWELLERY WEBSITES
BOUNCE RATE / PAGE 'STICKINESS’
Page Views is the number of times a reader visits any page
on a website. A higher Page View figure the better, because it
means readers are more engaged in the content. Jeweller’s
Page View count of 12 leads all websites while most others
can only record a single Page View before the reader leaves.
Time-on-Page is the average time a reader spends on a page
while Time-On-Site is how long they spend on the site each day.
Jeweller leads the world with a Daily Time of 21.50 minutes,
while most other publications only manage 1-2 minutes. The
more time spent on a website, the better the global ranking.
The Bounce Rate measures the percentage of visits that
consist of only a single page view. It indicates the percentage
of readers that land on a website, and immediately leave
(‘bounce off’) meaning a low bounce rate is optimal. Alexa
records Jeweller’s Bounce Rate at less than 25 per cent.
POSITION PUBLICATION COUNTRY PAGE VIEWS
POSITION PUBLICATION COUNTRY
DAILY TIME
(IN MINUTES)
POSITION PUBLICATION COUNTRY
BOUNCE
RATE
1 Jeweller Australia 12.00
2 Retail Jeweller India 8.60
3 Jewellers Network South Africa 6.00
4 Jewellery Business Canada 4.00
5 Gold Book Magazine Turkey 4.00
6 Jewellery Net Asia Hong Kong 3.60
7 Solitaire Magazine Singapore 3.00
8 JCK USA 2.20
9 Jewellery Outlook UK 2.00
10 The Jewelry Magazine India 2.00
11 Jewellery Focus UK 2.00
12 Indian Jeweller India 2.00
13 Canadian Jeweller Canada 2.00
14 Jewellery Monthly UK 2.00
15 Instore Magazine USA 1.70
16 Diamond World India 1.50
17 National Jeweler USA 1.30
18 Professional Jeweller UK 1.10
19 Retail Jeweller Magazine UK 1.00
20 Art of Jewellery India 1.00
21 Jewellery World Australia 1.00
22 The Retail Jeweler USA 1.00
23 Preziosa Magazine Italy 1.00
24 Bangkok Gems & Jewellery Thailand 1.00
25 Hong Kong Jewellery Magazine Hong Kong 1.00
26 The New Jeweller UAE / India 1.00
27 Jewel Trendz India NO DATA
28 Solitaire International Singapore NO DATA
29 Jewellery Time New Zealand NO DATA
1 Jeweller Australia 21:50
2 Retail Jeweller India 14:59
3 Jewellers Network South Africa 12.22
4 Jewellery Net Asia Hong Kong 02.60
5 Art of Jewellery India 02.49
6 JCK USA 02.47
7 Indian Jeweller India 02.47
8 Gold Book Magazine Turkey 02.26
9 Jewellery World Australia 02.23
10 Instore Magazine USA 02.12
11 Diamond World India 02.03
12 Jewellery Outlook UK 01.53
13 Solitaire Magazine Singapore 01.51
14 National Jeweler USA 01.49
15 Jewellery Focus UK 01.32
16 Professional Jeweller UK 01.28
17 Jewellery Business Canada 01.17
18 The Jewelry Magazine India 01.05
19 Retail Jeweller Magazine UK 00.60
20 Jewellery Monthly UK 00.34
21 Jewel Trendz India NO DATA
22 Solitaire International Singapore NO DATA
23 Bangkok Gems & Jewellery Thailand NO DATA
24 The New Jeweller UAE / India NO DATA
25 Jewellery Time New Zealand NO DATA
26 Canadian Jeweller Canada NO DATA
27 The Retail Jeweler USA NO DATA
28 Preziosa Magazine Italy NO DATA
29 Hong Kong Jewellery Magazine Hong Kong NO DATA
2 Jeweller Australia 24.40%
1 Retail Jeweller India 22.70%
3 Jewellery Net Asia Hong Kong 36.80%
4 Retail Jeweller Magazine UK 45.50%
5 Jewellery Outlook UK 50.00%
6 Jewellery Business Canada 58.30%
7 The Jewelry Magazine India 60.00%
8 Jewellery Focus UK 62.50%
9 JCK USA 64.40%
10 Art of Jewellery India 69.20%
11 Diamond World India 69.80%
12 Professional Jeweller UK 72.20%
13 Instore Magazine USA 72.70%
14 Jewellery World Australia 78.60%
15 Indian Jeweller India 81.00%
16 National Jeweler USA 82.30%
17 Jewel Trendz India NO DATA
18 Jewellery Time New Zealand NO DATA
19 Canadian Jeweller Canada NO DATA
20 The Retail Jeweler USA NO DATA
21 Preziosa Magazine Italy NO DATA
22 Bangkok Gems & Jewellery Thailand NO DATA
23 Hong Kong Jewellery Magazine Hong Kong NO DATA
24 The New Jeweller UAE / India NO DATA
25 Jewellers Network South Africa NO DATA
26 Gold Book Magazine Turkey NO DATA
27 Solitaire Magazine Singapore NO DATA
28 Jewellery Monthly UK NO DATA
29 Solitaire International Singapore NO DATA
POSITION
TRADING PLATFORM /
PUBLICATION
COUNTRY
PAGE VIEWS
POSITION
TRADING PLATFORM /
PUBLICATION
COUNTRY
DAILY TIME
(IN MINUTES)
POSITION
TRADING PLATFORM /
PUBLICATION
COUNTRY
BOUNCE
RATE
1 Idex* Israel 1.60
2 Rapaport Magazine* USA 1.80
1 Rapaport Magazine* USA 02:20
2 Idex* Israel 02:06
1 Rapaport Magazine* USA 54.60%
2 Idex* Israel 63.70%
All data collated as at 31 March 2022

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FEATURE
CAD/CAM Report
The
DIGITAL
DECADE
2022 CAD/CAM REPORT
It’s been 10 years since Jeweller first began exploring the world of CAD/
CAM technology, and its impact on the Australian jewellery industry.
SAMUEL ORD winds back the clock to examine some early
expectations, before surveying the state of play today.

The Digital Decade | 2022 CAD/CAM REPORT
Once, the words
‘CounterSketch’
and ‘3D printer’
might have
been met with
a confused or
dismissive look.
T
he past 10 years have brought about
remarkable advances in science and
technology.
In 2012, the discovery of the Higgs boson was
made public. In 2019, the first image of a black hole was
captured while the most notable influence on society has
undoubtedly been the rise of smartphones and the impact
of social media.
Advances in science and technology have also reshaped a
number of retail industries.
It’s been a significant period of advancement for the use of
technology within the jewellery industry, particularly when
it comes to Computer-Aided Design and Computer-Aided
Manufacturing (CAD/CAM).
Jeweller published its first report in June 2012 on the state
of CAD/CAM within the Australian jewellery industry.
“The Australian jewellery industry is three to 10 years
behind the rest of the world with its implementation of
retail computer-aided design (CAD) systems, which has
partly been due to our smaller market and the exclusion of
global competition,” the report stated.
“It’s futile to ignore the foreign invaders any longer
because retailers who work with technology can deliver
quality productions in less time with more competitive
pricing than their competitors.”
At the time, the question on the minds of retailers was
whether or not CAD/CAM would become a significant
‘force’ in the jewellery industry.
Would it make a lasting impact on the trade, or come
and go like so many other ideas once entertained as
revolutionary?
It didn’t take long for that question to be answered. With
manufacturing costs shrinking with each passing year, the
industry has increasingly embraced technology which has
showcased increasingly user-friendly functionality and
cost-effectiveness.
Boutique comeback
The Pallion Group is the largest precious metals services
group in Australasia with manufacturing facilities located
in Melbourne, Sydney, Hong Kong and Shenzen.
Since the 1950s, Palloys – one of six entities which forms
the Pallion Group – has taken pride in the expansion of
TIMELINE
3D Printing in
Numbers
1945
The general concept
of 3D printing was
first described in a
US short story
1980
Early additive
manufacturing
equipment was first
developed
1995
The Fraunhofer
Society developed
the selective laser
melting process
2009
Fused Deposition
Modeling (FDM)
printing process
patents expired
2020
Entry level 3D
printers dropped
below $US200,
leading to an influx
of recreational users
Right to left: Palloys was one of the first Australian countries to embrace
CADCAM; Intricate designs created by Palloys. Image credits: Palloys
jewellery casting, custom jewellery production and CAD/
CAM services on offer.
Palloys was an early adopter of CAD/CAM and in 2012, was
one of the first companies to share insight with Jeweller on
the rise of the technology in the jewellery industry.
Ten years ago, head of operations, Manuel Kalergis, had
this to say about the future of the trade.
“You’ll see CAM wax printing getting smoother and
turnaround times for CAD drawing reduced,” Kalergis said.
“In the next few years, you’ll also see the rise of Direct
Metal Laser Sintering (DMLS) an additive rapid prototyping
process that builds up metal using a laser.
It's futile to ignore the foreign invaders any longer
because retailers who can work with technology can
deliver quality productions in less time with more
competitive pricing than their competitors.
“The laser fuses powdered metal layer by layer by
scanning cross sections generated from a CAD file. DMLS
technology bypasses the casting process all together
and will produce stronger products, comparable to CNC
manufacturing.”
One decade later, Palloys operations manager Chris Botha
says those predictions were close to the mark but not quite
in line with what was to come, showcasing that advances
in technology aren’t always linear.
“Interestingly, the improvement we foresaw in CAM wax
printing seems to be more observable in resins. Resin
machines have become exponentially cheaper over the
past 10 years,” he says.
“Moreover, casting processes have greatly improved,
facilitated by keeping our hardware up to date and of the
highest quality.
“Additionally, vacuum-vibration technology and
overpressure technology have also improved. Direct Metal
Laser Sintering (DMLS) has not dropped in cost enough yet
to become accessible in the mainstream market, but we
anticipate this will happen over the next 5 years.”
Palloys is currently investigating an investment in DMSL
technology.
34 | June 2022

Wax injection. Make it easy.
riacewax.com

The Digital Decade | 2022 CAD/CAM REPORT
Left and middle: Sprue trees
created by Palloys as a part of the
casting process.Image credits:
Palloys Right: Models created using
3D printing by Morris and Watson.
CAD/CAM has been lauded as a way of bringing ‘in-house’
manufacturing back for jewellers.
Botha says that remains one of the most promising aspects
of the trade.
“I am starting to see more of a boutique industry for CAD/
CAM in the coming years,” he says.
“Previously, the industry demanded workshops of hundreds
of people, whereas now some workshops only require a
single person, with their own printer and doing their own
work.
“Even if just for prototyping, the CAD/CAM industry is
becoming a more accessible industry.
“The CAD software industry is moving towards a future where
consumers have greater control and autonomy. With the
constant technological evolution, now there are many more
user-friendly, lower-cost options available for users in terms
of 3D Printers.
“There will be an amalgamation between the handmaking
jeweller and the CAD designer, moving forward. We have
already begun observing this trend in our own client base.”
Rapid Prototyping Services production manager Ben Farago
agreed with this sentiment but says that for those exploring
CAD/CAM production for the first time, it’s crucial to avoid
the common pitfalls.
“I think everyone in the trade knows the general direction
things are heading in the future, the advancements have
been steady and consistent,” Farago says.
He also emphasised the importance of research and
forwarding planning when it comes to production.
Chemgold
Based in Sydney, Chemgold aims to offer the solution to any
jewellery manufacturing dilemma - by offering all precious
metal products and services; casting, refining, fabricated
alloys and mounts paired with a catalogue consisting of
thousands and thousands of designs.
Chris Botha
Palloys
"CAD/CAM has
brought a whole new
level of people into the
industry, for people
who did not previously
have the skillset, CAD/
CAM gives them the
chance to express
themselves. "
Darren Sher
Chemgold
"Providing a client
with up-to-date
information on the
status of an order in
the manufacturing
process is highly
valued. "
Alession Farnetani
Riacewax
"Today, what we are
capable of producing
wih injectors, it was
the stuff of dreams
back then [2007]."
Chemgold was a notable contributor to the 2012 CAD/
CAM report. At the time director Larry Sher highlighted the
opportunity technology presents jewellers when it comes to
avoiding expensive local labour costs: “There are far more
opportunities for jewellers to be able to create whatever they
require.”
He added: “Chemgold has exciting developments in the
pipeline and aims to be a leader in the development of
new technologies for the jewellery industry. Advances in
technology are increasing at a rapid rate, which will only
improve the speed and resolution.
"Previously, the industry demanded workshops of
hundreds of people, whereas now some workshops
only require a single person, with their own printer
and doing their own work. "
“To remain competitive, the majority of jewellers will need
to embrace CAD/CAM by outsourcing the design aspect
to companies such as ours, along with learning to use the
software themselves if they choose.”
In the years since that statement, Chemgold has significantly
invested in staff training to account for rising demand, with
jewellers increasingly utilising Chemgold’s CAD-based
libraries.
Today, Chemgold’s director Darren Sher says he continues to
be impressed by the rapid rate at which the industry adopts
advances.
“I believe that CAD programs will become more and more
user friendly,” he says.
“We’re going to see printers reach higher resolutions and
faster printing. There will inevitably be developments in
software for job tracking for the customer too. Providing a
client with up-to-date information on the status of an order
in the manufacturing process is highly valued.”
36 | June 2022

With the increase in popularity of the technology
Sher says there is always a need to train and hire
staff to service demand and services.
“We are also continuously building on our
database for our staff to ensure any [updated]
information is easily accessible.
“With jewellers and stores, in general, being
extremely busy we have found that using a
one-stop-shop for CAD/CAM suits many of
our customers who can use all or some of
the services for jewellery production – from
designing, printing, casting, moulds, finishing
and setting.”
World of wax
One name we may soon be hearing more often is
Riacetech. The business was founded in 2006 by
Giovanni Lejkowski and is based in Arezzo, a city
in eastern Tuscany in Italy.
Riacetech creates innovative wax injectors which
provide companies in the casting industry with a
range of functionalities and compatibilities.
Technical sales engineer Alessio Farnetani told
Jeweller that what’s capable today with wax
injectors would have been considered fanciful a
little more than a decade ago.
“Our wax injectors were first created in 2006 and
the business was started in 2007. Today, what we
are capable of producing with the injectors, it was
the stuff of dreams back then,” he says.
“A lot of the advances come down to things
like network connectivity and improvements in
user-friendly access. Today, it’s very much easy
to begin making creations compared with what it
was like not too long ago.
“Improving user experience has always been
important for us, as is increasing the efficiency
of use, both to cut down on waste in an
environmental sense and also to save money for
the creator financially.”
Riacetech serves clients both in and out of
Europe, with a number of Australian businesses
currently utilising the company’s wax injectors.
Farnetani says that his sector has undergone a
rapid rise and fall in orders since the ‘conclusion’
or winding down of the COVID pandemic.
“For our business, the flow of orders we’ve had in
recent months, I would describe as sort of like an
elastic band,” he says.
Above: Riacetech's
Bi Hydro Endura is
controllable from
a colour touch
screen, and is
able to produce
about 480 3D
hollow pieces of
small and medium
size each day.
Right: Creators
use a touch
screen interface
to operate the
injectors. Image
credits: Riacewax
Your Casting Specialist
Experience exceptional quality & service
• Casting All Alloys Daily
• Waxes, Moulds & Mounts
• Design, 3D Printing & Finishing
1300 984 751
Unit 37, 34-36 Ralph St, Alexandria, NSW 2015
sales@chemgold.com | www.chemgold.com
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Left to right: Riacetech introduced
lean production systems with the aim
of eliminating waste; Wax moulds
created by Riacetech.
“Everything of course slowed down to a halt during
COVID, and then when business resumed everyone
rushed to get their orders in and we were very,
very busy.
“Now we’ve completed that surge of orders and
things have dried up again somewhat, but we’ve
completed our projections for the remainder of
the year and our outlook is positive and we’re
confident we’re heading in the right direction.
“I can’t speak for everyone, of course, but I think
that’s been a common experience for a lot of
engineering businesses such as ours.
The company is expected to showcase its products
at the upcoming Sydney trade fair, and Farnetani
says he hopes to gain some long-term Australian
clients.
“Because this industry is always advancing and
improving, it’s never a one-and-done type of thing
with our products, the newest improvement is
always right around the corner,” he explains.
Lessons learned
Rapid Prototyping Services, based in Sydney, also
works with wax – offering printing and casting
services along with CAD/CAM manufacturing of
precious metal products and 3D printing.
Farago told Jeweller that last year’s pandemic and
the restrictions on public gathering highlighted
some important trade principles, such as the
value of an up-to-date and user friendly website.
So, what does the future hold?
Over the past decade, the largest change in the
CAD/CAM industry has been the reduction of cost
required to utilise manufacturing technologies.
A method that was once restricted to the largest
of companies quickly opened up as technology
evolved, and new, jewellery-specific products and
programs arrived on the market.
The Jeweller 2012 report forecasted these
changes and concluded with an urgent call to
retailers.
“CAD is growing quickly. With this sort of
technology around the corner, how can retailers
ignore it?” the report asked.
“The future of everyday-CAD is almost here and
grows closer by the day. When toy companies like
LEGO, and furniture conglomerates like Ikea, are
already developing CAD-based software for the
everyday user, it’s obvious that something big is
just around the corner.
“So, what does the future hold?
"CAD is growing quickly. With this sort
of technology around the corner, how
can retailers ignore it?"
"Retailers who choose to embrace CAD technology
as a part of their forward planning will benefit
greatly from this shift in the way that consumers
buy jewellery just as retailers who choose not to
embrace it will stay exactly where they are.”
According to Palloys’ Botha the industry at large
has heeded this message.
“The acceptance and adoption rate of CAD/CAM
jewellers has been extremely high. At this point,
most companies use CAD and CAM – this has
exceeded my expectations by far,” he says.
“CAD/CAM has bought a whole new level of people
into the industry; for people who previously did not
have the resources or the skillset, CAD/CAM gave
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www.purecasting.com.au

2022 CAD/CAM REPORT | The Digital Decade
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them the opportunity to express themselves.
“There has been widespread uptake of CAD/CAM services.
"At Palloys, we had customers who came to us with no knowledge about
CAD/CAM services, but just with a dream of seeing their drawing or idea
brought to life.
“It has given the trade a newer, more interesting life, as these designers
challenge the status quo.
Chemgold’s Sher echoed this sentiment and says that Australia’s
attitude towards technology in jewellery manufacturing in particular has
improved in recent years.
“We believe that with the what has unfolded during the pandemic,
mostly regarding the freight, but, also the quality and after-sales issues
that occurred during that time, a lot of manufacturers/stores decided to
opt for Australian made,” Sher says.
“Not only is it a great selling point for most of the market, it’s also
reduced their turnaround time greatly.
"Customers always value something being made locally and delivered
much quicker than any overseas competitor.
"The quality and attention to detail have also been a big turning point for
most of our customers as they receive the piece they require correctly
the first time around in a quick turnaround.
“Apart from this, they also enjoy the benefits of a much higher level of
after-sales service.
“We have seen a mass number of manufacturing roles open in the
industry the past few years with jewellers and setters and CAD
designers being in high demand across the country.
"This shows that there is a lot more interest in bringing manufacturing
back to Australian shores and keeping it here.”
From the time of the first Jeweller CAD/CAM report until today, a
remarkable amount of industry advancement and change has occurred.
With costs continuing to decrease and capabilities continue to improve,
the next decade appears primed to create manufacturing possibilities
that a jeweller today would believe is a mere fantasy.
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June 2022 | 41

FILLING THE
Fancy Colour Void
Image: De Beers
Colour diamonds have increasingly become a consumer favourite, reaping great rewards
for retailers. Will their popularity continue and where will new sources come from?
SAMUEL ORD surveys the landscape with a range of industry voices.
It’s impossible, of course, for anyone to provide
an accurate figure on just how many diamonds
unearthed meet the requirements to be classed
as fancy colour, however the widely cited number is
one in 10,000.
Of those that are unearthed, the vast majority are yellow
or the common brown. More than 70 per cent in fact!
Then there are the far rarer colours that are currently
commanding record levels of interest at auction - the
blues, greens, violets, blacks, purples, reds and of
course, pinks.
The rarity, combined with the beauty of these gemstones,
makes them a prize to any passionate collector.
William Gant, LJ West managing director, says it’s a
volatile time for the industry around fancy colour
diamonds, however, the gemstones themselves remain
as highly valued as ever.
“As the recent upheavals in geopolitics and equities and
crypto markets have shown, volatility is frighteningly high
everywhere you look,” Gant says.
“But premium fancy coloured diamonds have remained a
stable and growing asset that weathers such storms, and
continues to grow in value.
Gant continued by highlighting the importance of retailers
and suppliers alike to remain adaptive.
IN NUMBERS
Fancy Colours
2009
Tiffany & Co.
acquired exclusive
rights to yellow
diamonds
unearthed at the
Ellendale Mine
59.60
The weight in
carats of the Pink
Star diamond,
which was
auctioned in 2017
for $US71.2 million
12 million
The estimated
value of the Pink
Jubilee, a 12.76
carat Argyle pink
diamond
“The global pandemic forced a period of adjustment on the
industry as a whole, by limiting travel and trade fairs,” he
added.
“But this also presented opportunities as demand
remained strong and disposable income was high from
lack of travel. Those who adapted to digital or remote sales
methods have performed very well.”
State of play
In June last year, Jeweller published a comprehensive
review of the market, and with increased optimism
spreading with the removal of the shackles of the global
pandemic, experts gazed into their crystal balls and eyed a
positive rebound in 2022.
“We are looking optimistically forward to a revitalised
market in 2022,” Fancy Colour Research Foundation
(FCRF) CEO Miri Chen told Jeweller last June.
It’s the kind of good news the industry loves to be told -
but has this been the case? The natural colour diamond
industry has faced increasing pressure in recent years on
more than one front.
The man-made diamond industry has continued to apply
competitive pressure as it searched for manufacturing and
technological advances.
This has been paired with a new kind of influence precious
gemstone manufacturers and retailers are witnessing,
which is the rise of the ‘conscientious’ consumer; people

De Beers
who want to not only be told that products are coming
from the ethical origins – they expect retailers to be able
to prove it.
The conscientious consumer is fickle and once you’ve
lost them, they’re difficult to win back. Following Russia’s
invasion of Ukraine in late February, these consumers
have turned their attention to Russian diamonds and
many major retailers have been forced to respond by
banning their sale.
Rolling with the punches
With three months of 2022 FCRF data open for analysis,
Chen recently spoke with Jeweller and said all indicators
remain optimistic despite recent unexpected pressures.
“In light of the COVID lockdowns in China and the war
in Ukraine, the market no longer expected such a sharp
recovery, so in that regard, it’s exceeding expectations,”
Chen says.
“In the first quarter of 2022 the average price of fancy
colour diamonds across the board rose by one per cent
led by pinks at 1.3 per cent and yellows at 0.7 per cent.
“But this also presented opportunities as
demand remained strong and disposable
income was high from lack of travel. ”
“This continues the rise in the price of 89 per cent of all
fancy colour categories in 2021.”
Western Australia has been home to some of the
world’s most highly sought yellow and pink fancy colour
diamonds.
Ellendale Diamonds director Christopher Soklich says
that from an Australian perspective, 2022 is off to a
respectable start.
“In a marketplace that is continually changing due to
social and economic circumstances, it is important to
be agile, have a point of difference and that continuity
and reliability across all aspects of your business gives
confidence to your end client,” Soklich says.
“Whilst this can be difficult to navigate in the current
climate your perseverance and diligence will help you
reap the rewards.
“We have encountered a solid start to 2022. It has not
been without its challenges in an ever-shifting landscape,
where thinking on your feet and being able to be
adaptable to the challenges presented by the pandemic
Graff
Leibish
David Morris
Malpani Jewels
have been a must.
“As confidence begins to return, restrictions are lifted
and freedoms are returned, we expect to see a continuing
resurgence in sales.”
Fancy colour pink diamonds are regarded as the rarest in
the world. Approximately 90 per cent of these diamonds
have been unearthed in the Kimberley region of Western
Australia.
Soklich said he can’t see any challengers any time soon to
the status and prestige held by pink diamonds.
“Our natural Argyle pink diamonds continue to be sought
after as the princess of the coloured diamond world,” he
says.
“With less available due to the Argyle Diamond mine
closure, we expect to see demand continue to increase for
these rare and resplendent stones.
“Clients are now being tempted by alternative cuts such
as pear and cushion styles, although the round brilliant
cut diamond remains the most popular request. We have
also seen a surge in requests for larger natural yellow
diamonds with pear cuts coming out on top.”
LJ West’s Gant agreed with Soklich and says the
popularity of Argyle product has only increased.
“Pink and violet diamonds, particularly from the Argyle
deposit, have been in very high demand in Australia,” he
says.
“This is likely to continue for some time as these stones
are as collectable as they are beautiful. Demand has
been strongest for Argyle-certified stones, but these are
becoming rarer.
“The vast majority of Argyle’s diamonds are not certified:
there has been a growing popularity for stones that have
independent origin certification confirming their Argyle
provenance – we expect this trend to continue and the
value to grow.”
Gant says the hunt for the next big source of fancy colour
diamonds remains alive.
“Diamond mining has been predicted to grow over the
next couple of years, with locations such as Namibia
getting some attention,” he added.
“However, there is no ‘next Argyle’ to be found anywhere
as yet – the world waits with bated breath!”
Russia?
It was once suspected the search for a new source of
fancy colour stones may end in Russia.
44 | June 2022

Filling the Fancy Colour Void | COLOUR DIAMOND FEATURE
Salt and Pepper Diamonds; Melanie Katsalidis
Russian company Alrosa is the world’s largest producer of
rough diamonds and fancy colour gemstones account for
less than one-tenth of a one per cent of the company’s total
output.
In February of 2020, Rebecca Foerster, the former president
of Alrosa’s USA branch, hinted at the company’s plans to
claim a larger stake in the colour market.
“Alrosa deposits are known not only for their colourless
diamonds, but also for a variety of rough coloured
diamonds. Our cutter’s unique skills allow us to turn them
into high-quality diamonds," she said.
“A closed production cycle guarantees the origin of each
stone and allows us to track its path from its birth in
Earth’s mantle.
"With these advantages, Alrosa may well become a world
leader in the coloured diamonds market."
Following the invasion of Ukraine two years later in
February of this year, it’s safe to see those ambitions have
been put on ice.
Retail titans Signet Jewellers, said to be the world’s largest
diamond retailer, announced that it will no longer source
diamonds originating from Russia as a response to the
conflict. Tiffany & Co and other retailers, large and small,
have taken similar stances.
FCRF’s Chen says the absence of Russian and Chinese
influence on the market will be two of the biggest factors in
the months to come.
“We expect the demand for yellow diamonds to continue,
especially with the boycott on Russia that significantly
affected the supply of yellow diamonds,” she says.
“And when the Chinese, who are in lockdown and with
travel restrictions due to COVID, will return to the market,
we will see an increase in demand.
“In terms of specific inventory trends, we can see that the
leading companies have been buying more fancy colour
diamonds and increasingly incorporating it into their
collections, and even using yellow diamonds in engagement
rings.”
Dabbling
Fancy colour diamonds occupy a smaller segment in
the cultural zeitgeist compared to white diamonds and
for many retailers, that can make them intimidating to
approach as a product for the first time.
Salt and Pepper Diamonds has been part of the Australian
jewellery industry since the 1950s and today, sell an
intriguing range of naturally flawed gemstones. Owner and
Fancy Colours in
Numbers
0.01%
Approximately
one in every 10,000
diamonds mined is
fancy colour
250 million
The estimated value
of the legendary
Hope Diamond
1867
The year the Eureka
Diamond was
discovered in South
Africa, believed to
be the first recorded
fancy colour
616
The weight in
carats of the
yellow Kimberley
Octahedral, the
largest natural fancy
colour diamond
1985
The year the Argyle
Mine was opened in
Western Australia,
source of 90 per cent
of the world's supply
of pink diamonds
jeweller Brendan Cunningham says maximising the unique
nature of the diamonds is the key to success.
“My advice to a jeweller considering entering the fancy
colour market for the first time would be to explore fancy
shapes,” he advises.
“The less likely it is that a customer can compare a stone
you offer with one offered by your opposition, the less likely
it is that they will shop around. That sounds pretty blunt!
But the internet has made it particularly easy to compare
the prices of white diamonds. Our current trend cut is the
pear shape.
“People are after unique diamonds, although our strength
is in naturally flawed diamonds which we are still seeing
strong growth we have also ventured into reasonably priced
natural colours like browns and yellows.
We expect the demand for yellow diamonds to
continue, especially with the boycott
on Russia that has significantly
affected the supply of yellow diamonds.
“Some diamonds even have reddish characteristics. One
very cool diamond we found hidden in a parcel with a strong
orangish reddish inclusion. At the right angle, it looks like a
heart, it’s remarkable.”
Similar to other industry voices, Cunningham remains
optimistic about the future of the fancy colour market,
despite the wide variety of pressures it faces.
“There has been a lot of talk, especially amongst
the manufacturers in India, around price increases,”
Cunningham says.
“There’s a shortage of rough and demand is very high.
From our perspective, we still have to manage to negotiate
reasonable deals while also finding a way to still offer
competitive prices that encourage decent retail margins.
“That’s the balance for us, as it is for any jewellery retailer.”
Educate
Harsh Maheshwari, director Kunming Diamonds, echoed
this sentiment and says it’s thrilling to see the enthusiasm
around the rare diamonds increasing each year.
“Fancy colours have had a steady and healthy growth in the
past year,” he says.
“Consumers' knowledge has exponentially heightened
about natural colour diamonds, which subsequently has
46 | June 2022

Natural Coloured
D I A M O N D S
l o S t r i v e r d i A m o n d S i S A n A u S t r A l i A n o W n e d b u S i n e S S S u p p ly i n g
C o l o u r e d d i A m o n d S t o l o C A l j e W e l l e r S f o r o v e r 3 0 y e A r S .
S u p p l i e r o f :
A r g y l e C e r t i f i e d p i n k d i A m o n d S | r i o C e r t i f i e d C h A m pA g n e d i A m o n d S | r i o C e r t i f i e d W h i t e d i A m o n d S
n At u r A l C o l o u r e d d i A m o n d S - y e l l o W , o r A n g e , g r e e n | W h i t e m e l e e | u n i q u e C o l o u r e d d i A m o n d j e W e l l e r y
3 / 1 0 5 S t g e o r g e S t C e , p e rt h WA 6 0 0 0 | 0 8 9 4 8 1 0 5 2 6 | troy@lostriverdiamonds.com | www.lostriverdiamonds.com

Filling the Fancy Colour Void | COLOUR DIAMOND FEATURE
Left to right: Le Vian; Leibish; De Beers; Kunming
led to soaring demand in key colours such as pinks and blues, and
with JLo's [Jennifer Lopez’s] new green diamond ring, that has
started trending.
“The confidence in entering the fancy colour category is gained by
choosing the right supplier or having the right information.
“Don't shy away from sharing knowledge! It adds another layer to
the story of every purchase you make.”
Ellendale Diamonds’ Soklich says informing the customer about
the history of a diamond is crucial.
1.58ct | $2844+gst
“Education and marketing strategies are of great importance when
considering entering the fancy-coloured diamond market, being
able to understand the natural beauty, boundless design concept
options for unique pieces to be created and detail this to your
clients is key to successful sales,” he says.
More accessible
At the highest end of the market, there are many reasons to feel
optimistic about the sector following recent auction results.
The world’s largest blue diamond, the De Beers Cullinan Blue, was
recently sold at auction for $US57.47 million ($AU80.96 million)
at Sotheby’s in Hong Kong. The 15.10-carat step-cut gemstone
was expected to go for $US48 million with pre-sale estimates
comfortably surpassed.
Meanwhile at Christie’s Magnificent Jewels auction on 11 May,
The Red Cross Diamond, a 205-carat fancy intense canary yellow
cushion cut diamond was sold at a record-breaking price.
Pre-sale estimates projected that the diamond would garner
$US10 million, a target which was comfortably exceeded as an
anonymous bidder claimed the item for $US14 million
($AU20 million).
It’s a fascinating aspect of the fancy colour industry, however
naturally, it’s explored by only the ultra-wealthy. That exclusivity

FANCY COLOUR
AUCTION BLOCKBUSTERS
5.11 CARATS
14.82 CARATS
100.09 CARATS
5.03 CARATS
Moussaieff Red
The Orange
Graff Vivid Yellow
The Aurora Green
$US15 million
Christie's, 2014
$US35.5 million
Christie's, 2013
$US16.3 million
Sotheby's., 2014
$US16.8 million
Christie's, 2016
59.6 CARATS
15.8 CARATS
14.62 CARATS
555.55 CARATS
The Pink Star
The Sakura
Oppenheimer Blue
The Enigma
$US71.2 million
Sotheby's, 2017
$US29 million
Christie's, 2021
$US57.54 million
Christie's, 2016
$US4.29 million
Sotheby's, 2022
may soon be reduced, however, with the rise of Luxus.
Luxus was launched in mid-May. It’s a US-based fractional
ownership company which allows investors to buy shares of fancy
colour diamonds.
The first diamond on offer is a 0.54-carat fancy pink diamond from
the Argyle mine valued at $US400,000. Luxus is making 2,000 shares
available, allowing investors to buy in for as little as $US200.
The company was founded by hedge fund expert Dana Auslander
and journalist Gretchen Gunlocke Fenton. A company spokesperson
says it expects to sell most investment diamonds within 18 months
to three years.
“Education and marketing strategies are of great importance
when considering entering the fancy-coloured diamond
market, being able to understand the natural beauty...”
Kunming Diamonds’ Maheshwari says it’s not surprising to see more
and more consumers take an interest in fancy colour diamonds –
even if it means taking an alternative approach to ownership.
“With global markets being so uncertain, collectors are looking at
alternative options to invest in,” Maheshwari says.
“Fancy colour diamonds happen to be up there on the list.
“We've seen many blue diamonds being auctioned off and breaking
records, and a lot are keen on the Argyle Blue Moon too.”
While the uncertainty around the future of the fancy colour industry
is well-founded, the passion for these rare and beautiful diamonds
is still very much ablaze, leaving little reason to fear for it’s survival.
For now, however, the hunt remains on for the next significant
source.
Our collection of unforgettable jewellery designs are crafted
in premium 18ct gold, centred around unique, one-of-a-kind
Australian Sapphires. The pieces in this range have been
embellished with beautiful White Diamonds, to enhance the
incredible hues of the Australian Sapphire.
SapphireDreams.com.au

BUSINESS
Strategy
The importance of social listening
Selling online is more viable than ever before, however doing so comes at a cost – direct access to customers.
BETH WALKER explores options for overcoming that challenge by utilising social listening.
When I graduated from college my father
and I looked at buying a new car.
At one dealership the salesman jumped
into a pitch about how the car I was sitting
in was one of the most comfortable cars
he’d ever driven. He pointed out the
convenience of the interior layout and how,
as a right-handed person, he found this the
best car to purchase.
I’m left-handed. Everything he had said was
helpful and informative, however, as a lefthanded
person, as soon as the salesman
landed on his closing pitch, I knew the car I
was sitting in was not for me.
Nowadays, we have the opportunity to sell
our products or services in various ways
including online media such as blog articles,
social media posts, videos, and email.
The challenge with digital marketing is that,
unlike with face-to-face sales, you don’t
have the benefit of reading someone’s body
language or facial expressions. If they leave
our website, we don’t know why. It’s not all
doom and gloom, however.
We can still ‘hear’ what our ideal
customers are saying online by
implementing ‘social listening’.
What is social listening?
Social listening is the practice of analysing
the activity and conversations trending
around your industry, including your brand,
and then using those insights to make
informed marketing decisions.
Social listening helps a business
understand what target customers are
thinking, what their needs are, and how
they are searching for information about
your product or services. You can use social
listening to create content that answers the
why, where, and how messages your buyer
persona is looking for, using the keywords
they are currently using online.
Make it a priority
Is social media promotion a part of your
content marketing strategy? Do you
publish blog articles, share industryrelevant
content, and engage with other
social users who ask questions about your
products and services?
If you aren’t leveraging these free platforms
yet I hope you will soon. However, it’s
important to make sure that you plan your
strategy to connect with your buyer persona
on their preferred social platforms.
A few years ago, you could easily assume
that promoting your content on Facebook
would help you reach a good number of
your potential customers, but there has
been a shift.
Edison Research reports that Facebook
has an estimated 15 million fewer US users
compared with 2017 and this drop is in the
12 to 34-year-old age group.
It’s also important to note with Facebook
specifically, user time is decreasing.
In 2016 the average user spent 50
minutes per session. By January 2021
Statisita.com reports, “the average time
spent by day by American users on
Facebook was 33 minutes”.
With fewer
opportunities
for face-to-face
interactions in
today’s digital
world, social
listening is an
excellent way to
keep a pulse on
many aspects of
your business
as well as your
competition.
In February of this year, a Digital 2022
Australia report revealed the average
Australian was spending three per cent
less time on the platform than in the
previous year.
So, if Facebook isn’t the guaranteed
connection space it once was, how do you
know where your customer is spending
their time online? For jewellers it begins by
establishing a social listening plan.
Strategic approach
Creating a social listening plan starts
with what you know. Create and review a
‘buyer persona’ – a detailed description
of someone who represents your target
audience – and then visit the websites
where you interact with your customers and
take notes.
From there ask yourself a few questions: Is
the information you curated still accurate;
are your customers still active in these
online areas? You can also establish
what are their likes and dislikes and what
problems are they looking to solve?
As you are reading the social media
interactions, observe the words used to
identify your industry.
Also, note who they consider your
competition. Next, head to your competitors’
social platforms, such as their Facebook
page, and do the same thing.
Once you have spent some time taking
notes, review the information you have
gathered. What are the keywords that your
potential and current customers are already
50 | June 2022

Business Strategy
using? Make a list of all the relevant words
that you see in your notes as well as those
you know are common to your niche.
Establish a tracking system that helps you
see how the keywords are flowing together
so you can best understand the context
of what people are talking about not just
how many times a specific keyword comes
up. Do people commonly connect certain
keywords with negative comments? That’s
important to know.
You will want to keep your system flexible as
you do this but a few things you may want to
consider tracking include:
• Industry keywords
• Your product name(s), including
common misspellings
• Your brand name and handles
• Your competitors’ brand names,
product names, and handles
• Your business slogan and those of your
competitors
• Your branded hashtags
• Industry relevant hashtags
• Names of people in your business such
as your CEO or owner and handles
• Key names and handles of competitors
If you know that your business name is
often misspelled or that specific industry
terms are misused track those as well as
commonly used abbreviations.
There are online services and tools that
will help you gather all this information so
you can quickly sort through all the social
mentions regarding your brand.
We love Buzzsumo for social monitoring,
but there are many tools to consider.
Hootsuite lists 10 additional social
monitoring tools to check out.
The largest benefit of using a tool for social
monitoring is that this will help you easily
track all the social websites at the same
time. One thing you may notice is that your
competitors are mentioned more frequently
on different social platforms because they
have a presence where you do not.
Finding value
Using a social monitoring tool pulls in any
mention of a keyword. This means you
may quickly gather large quantities of data
which you will need to sift through. You will
need to take time to sort what is helpful and
applicable versus that which is ‘noise’.
A few categories to track should include:
• Sentiment – what is the overall opinion
of your business?
• Total mentions – how many times are
you mentioned weekly?
• Active social platforms – where are
your customers most active?
• Pain points – What are the problems
that customers are looking to solve?
Track this weekly or monthly. Regardless
of your choice, you want to make sure
that you are watching trends. Are brand
mentions increasing? Is positive sentiment
continuing? What time of day or days of the
week are customers most active? Where are
your industry keywords trending the most?
Once you have a better understanding of
your customer’s current needs, you can use
this information to create a content strategy
for the next quarter that will best help solve
your potential customers’ issues and to
educate them on areas of your products or
services where they are unclear.
By incorporating the information you
gather directly from your customers into
your content calendar you will increase
your opportunities to earn their trust and
establish yourself as an industry expert.
SOCIAL
LISTENING
BREAK DOWN
Understand
Create an
online persona
mirroring a
hypothetical
customer
Research
Perform the
kinds of online
searches they
would for your
industry
Sentiment
Observe how
your business is
portrayed to the
persona online
Competition
Take note of how
your competition
is also presented
Value
Discover key
areas to improve
based on this
information
and implement
changes
Track
Keep an official
record of all the
information you
compile
Keep a record
Of course, you will only know if all your
hard work is paying off if you track your
efforts. It’s important to make sure that
you don’t include vanity metrics in your
data gathering.
Increasing your social following or
interactions feels great, but are those
people coming to your website as well? Are
your leads converting to customers?
To save time tracking data, create a digital
dashboard for analysis.
Social listening requires attention to detail
that should not be cut short, however, data
analysis doesn’t need to be a hassle.
Once you know the key metrics you want to
track, establish a system that allows you to
see all the information in one location at a
quick glance.
There are many free options for dashboards.
You may want to choose a dashboard that
will alert you when you hit your key goals for
the period.
That way, if you are tracking analytics weekly
but you hit your goal three days early you
will know immediately with an email alert
and can make a note to consider adjusting
your plans.
Social listening is an important part of
understanding your potential and current
customers’ requirements.
With fewer opportunities for face-to-face
interactions in today’s digital world, social
listening is an excellent way to observe
many aspects of your business as well as
your competitors.
BETH WALKER writes for US-based
SMA Marketing, which specialises
in digital marketing strategies for
businesses. Visit: smamarketing.net
June 2022 | 51

BUSINESS
Selling
Laws of business success
All businesses are unique but the principles behind success are universal.
THOMAS YOUNG explains the nature of these principles, and how you can best implement them.
Running a successful retail business may
appear complex to an outsider looking
in. However, once the basics are in place,
the key to success is common sense.
It’s a simple and easy-to-understand
process that involves relating with
people. Yet still, so many organisations
don’t employ this pivotal practice.
Instead, many businesses function well
below their potential due to the fear
and anxiety of leaders, managers, and
employees at all levels.
Errors, emotions, and ego so often
block the fundamental laws of business
success from being implemented.
Leadership and rewards
Success begins with the lead taken by
the head of the business.
The leader of the business sets the tone
for the culture and focus. The approach
taken by the leader flows throughout all
levels below, and this is particularly true
for small retailers such as jewellers.
Leaders, usually the storeowner,
must have a clear mission. They must
effectively communicate this mission,
along with their values and goals.
Any business can reach high levels of
performance if the staff accepts the
mission statement and work toward
making it a reality. Every individual
associated with the business, including
customers, must understand why the
business exists.
Successful retailers build relationships
with staff, customers, and other
stakeholders through the values of trust,
integrity, and honesty.
On average, people tend to be good at
sensing when they’re being misled or
deceived. Customers and staff have
a low tolerance for dishonesty and
environments that lack trust.
Businesses that can build trust will have
the best employees and the most loyal
customers.
Errors, emotions, and ego so often block the fundamental laws of business
success from being implemented.
From there, customers who repeatedly
purchase their products or services
will naturally promote the business
to others. These organisations then
attract and hire highly motivated
staff who feel valued because trust is
present in the workplace.
Organisational compensation,
motivational programs and rewards
systems should always be clear and in
tune with the mission, values, and goals
of any business.
When a business prospers, the staff
should benefit. Staff incentives and
rewards should be evaluated from the
perspective of the employee, not the
business or owner.
The key is to see motivation from the
mind of the employee, not the business.
Understanding customer needs
Studies have shown that members
of staff want to feel valued by their
employers above other factors. It’s
natural to want to feel important and to
be sure that the business values their
contribution.
Business leaders must find ways to
communicate how they value staff.
Staff make decisions based on their
emotions and thoughts, which are
not always rational or logical, and
sometimes abstract and unpredictable.
Successful
retailers build
relationships
with employees,
customers,
and other
stakeholders
through the
values of trust,
integrity, and
honesty.
Money paid to staff does not express
value in the long term. Employees want
respect, recognition for their work and
to feel valued.
Furthermore, a business is nothing
without its customers and yet, so many
businesses make decisions based on the
perception of the trade as seen by the
managers, and not the customers.
All decisions need to be evaluated based
on the impact to the customer.
The question all leaders must routinely
ask themselves is, “How will this
decision impact our current and
potential customers?”
Storeowners and managers should get
into the minds of their customers and
make decisions based on what is valued
by the people who pay their salaries —
the customer.
Success between sales
Every member of staff has a role to play
when it comes to marketing. After all,
they’re the face of the business.
Customers have many choices to make
and make no mistake, they will not
hesitate to switch to your competitor if
the price or environment is right.
Retailers must communicate effectively
with all customers, informing them of
the value they offer through marketing
and sales efforts.
It’s all too common for businesses to
focus entirely on making the sale or
generating revenue. Managers look
at the bottom line and make decisions
from there.
The true success of any business –
large or small – is determined by what
happens before and after the sale.
THOMAS YOUNG is CEO of Intuitive
Websites. He has more than 25 years’
marketing and sales experience.
Visit: intuitivewebsites.com
52 | June 2022

BUSINESS
Management
Channeling frustration into positive results
Running a business can be frustrating and negativity creeps up on the best of us at times.
PAUL KEIJZER shares tactics to keep negativity from becoming overwhelming, and even turning it into positive results.
We’ve all faced frustration every
now and then at work. When you’re
passionate about what you do certain
negatives can agitate us. That’s
certainly true in the world of retail.
The reaction to this is generally anger
and frustration, both of which we try to
avoid, but sometimes it’s inevitable.
Sure, the books you read will tell you
about how to stay positive, think positive,
act positive and bring positivity into your
lives to be happy and as a result, find
success. But how possible is it to always
be positive?
Since we can’t always avoid negative
emotions, we should learn to embrace
them, and channel our frustrations into
achieving something good.
At first, I’m sure this all sounds
like fiction. When you’re angry and
frustrated, being positive is the last
thing on your mind. Most times you just
want to give whoever is standing in front
of you a piece of your mind.
The next time you find yourself in a
tricky situation, consider utilising one of
the following techniques.
Walking away
Try to be mindful of the idea that as
much as you’re frustrated by customers
and situations, customers themselves
can equally be frustrated by you or other
members of staff in similar situations.
In a way, I’m saying you could allow
them the benefit of the doubt.
Instead of reacting in a manner that could
seriously damage a business relationship,
try walking away from the situation.
You can still salvage things by doing this,
rather than causing long-term damage
to potential sales.
By walking away you’re giving yourself
time to think things over.
Often, we look back at a bad situation
and upon reflection, we think of all the
things we could have said but didn’t.
Since we can’t always avoid negative emotions, we should instead learn
to embrace them.
When you’re frustrated this is one of
those moments.
Don’t allow yourself to stumble on this
avoidable pitfall.
Start the day right
I’m a firm believer of starting mornings
early, energised and pumped up for the
challenges ahead. And that’s certainly
something to pursue if you own a retail
business.
I usually wake up in high spirits and look
forward to the day ahead.
It may not always end up being a smooth
and happy day, however, my mornings
are almost always starting off on a
positive note.
So should yours!
They say you should love what you do.
If you’re already passionate about your
business, that’s a great start. If you’re
not – ask yourself why?
Try to find changes you can make that
address any negative feelings you have
towards working.
Another important factor in a strong
morning mindset is how you go about
your morning. Shake things up!
Break routine here and there, in minor
ways, to keep things fresh. Make your
mornings less dull and instead be
livelier. Make sure you arrive at work
with the right mindset.
They say you
should love
what you do. If
you’re already
passionate
about your
business, that’s
a great start.
If you’re not –
ask yourself
why? Try and
find changes
you can make
that address
any negative
feelings you
have towards
working.
Choose your battles
Sometimes we overlook basic wisdom
like ‘don’t cry over spilled milk’. Being
frustrated over something you have no
control over is just like this saying. It’s
pointless, needless, and can’t be undone.
The only thing that can be done is to
assess the damage, mitigate risks,
learn from the experience, and make
corrections to avoid similar situations in
the future.
To address the things that frustrate you,
which you have no control over, there
can be a different approach.
Don’t be hasty and quick to react.
Assess, and weigh your options.
The Greater Good Science Center at
the University of California Berkeley
conducted research that found that
“feeling angry increases optimism,
creativity, effective performance” and
that “expressing anger can lead to more
successful negotiations.”
There is optimism to be found in
frustrations if you channel it wisely.
Sometimes the best way to manage your
frustrations is to lose a few battles just so
you can have your say and win the war.
The reaction to frustrations can be ugly
at times. The last thing you want is for
your staff to see your dark side.
Don’t allow them to have this one-up
over you. Remain calm, collected, and
composed.
Being angry and frustrated isn’t always
a bad thing.
It’s how you channel your frustrations
and use it to your benefit and advantage
that counts.
PAUL KEIJZER is the CEO and
managing partner of Engage Consulting,
supporting organisations grow their
business. Visit: engageconsulting.biz
June 2022 | 53

BUSINESS
Marketing & PR
How to build a competitive advantage
Standing out from the crowd in the retail world can be difficult.
DAVID BROWN shares a straightforward formula for building a successful business.
One of my favourite questions to ask
storeowners when discussing business
performance is “what is it that your
business does that your competitors
don’t or won’t?”
Inevitably, in more than half the responses,
I hear some variation of praise for the
quality of the customer service of the
business in question, and how it is superior
to that being offered by rival stores.
When I dive deeper, the answers tend to
lack supporting evidence.
In most cases, these responses represent
an ideal the storeowner has, however
they have rarely conducted a survey of
customer service standards between
themselves and the competition.
In some cases, the retailers will recite
an example of poor customer service
that was presented to them by a
customer who visited a rival jewellery
store years earlier. This isolated
incident will be used as a sweeping
generalisation for the rival stores’
overall performance with customers.
Any similar such incidents that have
occurred in their own store are, of course,
‘customer misunderstandings.’
I’ll often ask the owner what response
their competition would give to the
same question, and they will usually
begrudgingly admit that they too would
likely cite customer service as their store’s
great strength.
It is in our natures to overlook any
shortcomings that may reflect badly on us,
and we tend to disregard our flaws if they
reflect our own inabilities or defects.
Stand out
A genuine competitive advantage comes
from tangibles that can be presented as
factual.
If you can show consistently that you sell
the same item as the competition for a
lower price that is a fact. If you can show
your trading hours are longer than a
competitor down the road, that is a fact.
Any successful business must discover a niche that is not being satisfied
by others.
A social media page full of customers
singing your praises is a fact, and the
opinion of your customers and whether or
not they choose to spend with you is a fact.
There are a number of steps you can
take to develop a tangible competitive
advantage in your business.
Attract talent, find your niche
The first thing to focus your attention on is
attracting the best talent.
It stands to reason that those with the
best staff will achieve the best results for
their customers.
You need to ensure your business has an
environment that attracts the best people
in the industry and that once they’re on
board, they’re allowed to get on with doing
what they do best.
From there, any successful business must
discover a niche that is not being satisfied
by others.
We have a bad tendency in business to
think bigger is better and to try and be
all things to all people. And yet so often,
when a business chooses to minimise
and pursue specialist areas, that’s when
success follows and quality connections
with customers really begins.
I often give the example of sports stores.
A generalist sports store selling a wide
range of products may appeal to a golfer,
but probably not as much as a golf goods
We have a bad
tendency in
business to
think bigger is
better and to try
and be all things
to all people.
store. If that golfer is left-handed, a store
that only sells left-handed golf supplies
will appeal to them most of all. An inchwide
niche that goes a mile deep is the key
to profitability.
Understand and then satisfy
Know who your customer truly is.
Hand-in-hand with our second point about
pursuing a niche is the need to not only
recognise what the market wants, but to
also discover who exactly they are. Your
typical left-handed golfer will tick a lot of
demographic boxes that will help you find
and connect with them.
From there, we simply need to ensure
that our business satisfies their needs.
Once you know what your niche is and who
inhabits that space you need to give them
exactly what they want.
Not sure what that is? Ask! Customers will
gladly give you their advice and opinions.
You only give them half a chance.
If you closed your doors tomorrow what
would your customers be losing?
If you can’t answer that in 10 seconds,
they may not be losing much at all. You
may have a good business now offering
good products at a good price with good
service – but as Jim Collins, author of the
book Good to Great teaches us “good is the
enemy of great.”
Settling for ‘being good’ is an attitude we
can’t afford to have around.
Attract the best talent the industry has to
offer and then narrow down your business
to serving a specific niche. Understand
who it is that’s pursuing products from that
area of the market, and then focus your
attention on satisfying their desires.
That’s the simple recipe for a competitive
advantage in any market.
DAVID BROWN is co-founder
and business mentor with Retail
Edge Consultants. Learn more:
retailedgeconsultants.com
54 | June 2022

BUSINESS
Logged On
Boost your business by blogging
Blogs! More and more businesses are pursuing them every day, but what’s it all about?
HEATHER COOPER explores the many benefits blogging can offer retailers.
Online blogs began appearing for the first
time in 1994 and they’ve been an important
part of the internet ever since.
In the most basic form, a blog is a website
that is routinely updated by an individual or
group of people, with the overall tone of the
website conversational and informal.
For an individual, it might be a kind of diary
or journal. For a business, it’s an avenue to
keep in contact with customers.
At first, blogs were primarily something
that people did to share their creative
writing. They’ve now grown into a powerful
marketing tool for businesses of all
shapes and sizes.
We’ve all seen personal blogs for
businesses here and there, but how are
they beneficial exactly? Let’s take a look at
the reasons why blogging for businesses
can lead to retail success.
Drive traffic to your website
Every time you publish a new update to
your blog you’re increasing the chances of
your business appearing higher in search
engine results.
This drives traffic to your website and
by extension, creates new opportunities
for sales and forging of longer-term
relationships with customers.
Regular blogging for businesses also tells
Google and other search engines that
you have an active website that should be
crawled regularly for new content. That
goes a long way to keeping you towards the
top of search results.
Repurpose content
Creating authentic, interesting and
worthwhile social media posts every day
can become a challenge.
One sure-fire way to help with content
creation and increase website traffic is to
promote your blog posts on social media
platforms, effectively ticking two boxes
at once.
Each link to your blog that you share on
social media has the potential to be shared
Your updates have the potential to continue bringing traffic to your
website long after they have been posted.
further by your followers, reaching new
audiences and potential customers.
Convert traffic
When you’re blogging for a business each
new update helps convert website traffic
into new leads. At the end of each article,
there should always be some kind of call to
action. An action you want the reader to do
after they finish reading.
This call to action should be linked to a
landing page that invites the reader to
provide more information or to simply
contact the business directly.
Consider including some sort of offer for
free products or reduced prices, either
on the update or on a separate landing
page. The more people that follow this call
to action, the more chances you have to
convert traffic into leads for your business.
Establish yourself as an authority
Successful business blogs will try to
answer the questions they feel their
readers and customers may have.
It’s an approach that is beneficial
for multiple reasons. The most
straightforward benefit is that it helps your
customers. The added benefit is that it
places your business or brand in a positive
light as an industry leader.
Your audience will begin to view your
business as a reliable source of helpful
guidance and this practice goes a long way
The beauty of
blogging for
your business
is that your
updates have
the potential
to continue
bringing traffic
to your website
long after they
have been
posted.
towards creating trust between a business
and customer.
When it comes to customer priorities, trust
in a business is always a highly-sought
characteristic. For jewellery retailers,
trust is what keeps a customer returning.
It also increases the chance that they will
share or recommend your products or
services to those they know.
Long term returns
The beauty of blogging for your business
is that your updates have the potential to
continue bringing traffic to your website
long after they have been posted.
In marketing, ‘evergreen’ products or tools
are those with lasting appeal or value. An
evergreen post or update for a blog is one
that keeps readers returning long after it
has been posted.
The level of traffic generated by an update
or post usually drops off after a few days,
however, if it’s well ranked by search
engines or features information that’s
worth revisiting for customers, an update
or post may gain long-term value.
It’s important to revisit older posts and find
ways to edit them to keep them relevant. It
can be as simple as replacing older links
or adding new information that fits with the
current climate.
Share business news
One final way blogging may benefit your
business is by acting as a conduit for
sharing exciting developments that impact
your business, be they big or small.
These sorts of posts and updates
humanise your brand, build trust with
customers and help your audience see
that it’s not always about selling a
product or service.
HEATHER COOPER is a writer for Three
Girls Media, offering guidance on website
design and build, public relations, and
content marketing strategy. Learn more:
threegirlsmedia.com
June 2022 | 55

My Bench
Danica Roderick
Nique Jewellery. Manly NSW
Age 35 • Years in Trade 13 • Training Jewellery Apprenticeship with Southbank institute • First job Toowoomba Jewellers
SIGNATURE PIECE
LUCID DIAMOND PENDANT NECKLACE
The Lucid is a 9-carat yellow gold necklace set with five
diamonds ranging in size. The colour and clarity is G-H
and SI or better, with a total diamond weight of 20pts.
The LUCID range is one that is raw, celebrating imperfections.
The jewellery is imperfect and each piece has its own unique
identity. This range celebrates that you are perfect in your
own skin. Raw, real and understood!
We want you to know that you are your own type of
perfect however imperfect you think you may be.
It is your imperfections that make you who you are.
4FAVOURITE GEMSTONE Hands down my favourite
gemstone is a sapphire. Purely because the range of
colours that they come in, their lustre and how hard
they are makes them a joy to work with.
They are so much fun when you show a client outside
in daylight, the way the sapphire throws colour back
and also changes colour in the sunshine is just
brilliant.
4FAVOURITE METAL 18-carat yellow gold! I love the
feeling of working with it but also that bright yellow
colour is just so beautiful. It also brings a lovely
colour contrast when making a piece with coloured
gemstones.
4FAVOURITE TOOL My most used tool would be
my head loupe. We need to protect our eyes in this
industry and the head loupe makes detailed work
much easier and without doubt when you can see
easily you provide a higher quality piece.
4BEST NEW TOOL DISCOVERY I have just started
using the GRS Thermo-Loc and I am really enjoying
it, the ease of heat and set works really well for me.
4BEST PART OF THE JOB Talking to a client about a
new piece, the excitement that they have during the
design process is so lovely to be a part of. Their ideas
are always fresh and you know it will be something
they will cherish for a long time.
4WORST PART OF THE JOB The constant cleaning!
I have an open studio where the retail cabinets, client
consult area and workshop is all open, the clients
love to stop by and see their piece being worked on,
but the cleaning is a daily task.
4BEST TIP FROM A JEWELLER Every day in this
trade you will still be learning.
4BEST TIP TO A JEWELLER Keep an open mind on
new techniques and client ideas.
4BIGGEST HEALTH CONCERN ON THE BENCH
There certainly are a few but my main concern for
now is back and neck pain. I have a saddle seat and
a timer that is set to tell me to get up and stretch.
Too many times I sit distracted by the piece I am
making and time will just fly past.
4LOVE JEWELLERY BECAUSE It tells a story,
creates a memory to last a lifetime. Being a part of
this process for a client is the reason why I come to
work every day.
56 | June 2022

OPINION
Soapbox
Taking a risk and coming out on top
Playing it safe in the jewellery industry is always tempting because the consequences
for failure are dire. GERRI MAUNDER says risk-adverse behaviour closes the doors to success.
Who dares, wins. Fortune favours the
bold, they say. Or, you need to take risks
to succeed.
We’ve all heard these kinds of sayings
before – but how often do you put that
wisdom into practice?
We took a leap of faith nearly 30 years ago
when we started Gerrim. Anyone that’s
spoken to me about the history of the
business knows that our motto is ‘pride
in ownership’.
It’s not just a gimmick. It’s something
we’re really passionate about – and if
you’re reading this right now, you should
be too! It’s about owning your space,
owning your business, owning your
personality, and the impact you have on
the people you work with.
It’s about taking pride and ownership of the
decisions that you make. Being responsible
and being prepared for the consequences
of your decisions and most of the success
we’ve had has come from taking a
calculated risk.
You’ve got to be in it, to win it
For example, during the COVID lockdowns,
we took a big punt; we overstocked on
product. We invested in inventory that
exceeded our traditional requirements.
We’re based in Queensland, and we
watched what happened in Victoria with
great interest. There were major delays in
transport and delivery, both domestic and
international. A supplier’s worst nightmare!
In Queensland, we didn’t experience the
types of lockdowns that Melbourne and,
to a lesser extent, Sydney did – but the
possibility was always there. We looked
at Victoria and asked ourselves – what
happens here if that happens to us?
We decided to make a significant, ‘risky’
investment and increasing stock in
anticipation of COVID lockdowns ending
and there being a major impact on our
ability to deliver to our retailers.
Our mantra has always been that if a
product we offer is made and manufactured
in Australia, we will be able to deliver that
product to a retailer in 7–10 business days.
We’ve always said that, and we’re proud of
that part of our business.
Suppliers are, essentially, solution-based
businesses. Retailers need stock – and they
want the supplier to offer a solution – to
provide the stock and deliver it on time. It
doesn’t have to be any more complicated
than that. We also understand that the
jeweller is in turn attempting to offer a
solution to their customer.
COVID forced all businesses to re-think how
they operate. Our decision to ‘well-stocked’
our business needed to be carefully
considered.
The decision was not easy because it
meant we needed to invest more money in
very uncertain times. And worse, making
a large financial investment in a business
when it could all go so wrong so quickly,
is a daunting prospect.
We had to think about the dollars of course.
We needed to think about what we were
risking by carrying extra stock.
We estimated our requirments based on a
previous pre-COVID period of trade. Then
we added a bit more after noticing a few
of our country retailers had already told
us that stores sales had greatly increased
because people were traveling less and
treating themselves more.
Our decision was made!
Outcome
It certainly paid off. As soon as the doors
swung open and businesses were open,
retailers wanted more and more stock
and we were in an excellent position to
complete orders.
It’s about offering the solution and because
of our decision to ‘overstock’, because we
took that gamble, we were in the right place,
at the right time, to complete those orders.
It’s about taking
pride and
ownership of
the decisions
that you
make. Being
responsible
and being
prepared for the
consequences of
your decisions
and most of the
success we’ve
had has come
from taking a
calculated risk.
When a customer visits your store, they’re
looking for a solution too. The solution to
a need to provide a gift, for a birthday or
anniversary, or even a marriage proposal.
When a jeweller comes to a supplier,
they’re looking for a solution too. And they
want it quickly – so we need to be ready.
We’ve just come back from two buying
meetings over the weekend and at one
of them we’ve had the biggest meeting in
terms of sales that we’ve ever had, which
is amazing.
It was far greater than we expected –
and as a result of that decision we made
to overstock, we have been able to invoice
it all early in the week and get those sales
completed and delivered.
The items a buyer looked at on Sunday
will be at their retail store before the end
of the week. When a retailer purchases
a stock they want it now. And we want to
meet that requirement.
Ride the wave
We will continue to take risks too.
We’ve spent more on advertising and
marketing in recent months. We’ll be
looking at more and more advertising in
the months to come, particularly around
August, as we build up our inventory again
in the lead-up to jewellery fairs and the ever
important Christmas and New Year trading.
We’re able to make these investments
with confidence now because we’ve had
such a great year sales-wise. And that
goes back to our decision to take a risk – a
well-calculated risk, but a risk nonetheless
– and overstock on product, and being
willing to live with the consequences of our
decisions.
Name: Gerri Maunder
Business: Gerrim
Position: Co-director
Location: Brisbane, QLD
Years in the industry: 30
58 | June 2022

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