Jeweller - October 2022
Seeking clarity: Understand the outlook for the diamond industry Aussie, Aussie, Aussie: Homegrown jewellery brands continue to shine brightly Christmas presents: New and exciting designs ready for the busy season
Seeking clarity: Understand the outlook for the diamond industry
Aussie, Aussie, Aussie: Homegrown jewellery brands continue to shine brightly
Christmas presents: New and exciting designs ready for the busy season
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VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY NOVEMBER OCTOBER <strong>2022</strong><br />
Seeking xxxclarity<br />
JEWELLERY UNDERSTAND MANUFACTURING THE OUTLOOK AND<br />
ADVANCES FOR THE IN DIAMOND CASTING AND INDUSTRY REFINING<br />
Aussie, Aussie, xxx Aussie<br />
PINK HOMEGROWN DIAMONDS: JEWELLERY ARE YOU GETTING BRANDS<br />
CONTINUE YOUR MONEYS TO SHINE WORTH? BRIGHTLY<br />
Christmas xxxpresents<br />
SYDNEY'S NEW AND INTERNATIONAL EXCITING DESIGNS JEWELLERY<br />
FAIR READY EXCEEDS FOR THE ALL BUSY EXPECTATIONS<br />
SEASON
AUSTRALIA'S PREMIER DIAMOND SUPPLIER<br />
SINCE 1986<br />
Honesty<br />
Integrity<br />
RENOWNED FOR THE LARGEST RANGE OF PREMIUM WHITE AND COLOURED DIAMONDS IN AUSTRALIA<br />
IN BOTH ROUND BRILLIANTS & FANCY CUT DIAMONDS.<br />
ACCESS ARGYLE PINK DIAMOND TENDER STONES & SINGLE STONES AND<br />
THE WORLD'S LARGEST INVENTORY OF CERTIFIED ARGYLE CHAMPAGNE DIAMONDS<br />
Diamond specialist with the largest inventory of:<br />
Fine cut fancy-shapes<br />
GIA / HRD / IGI / Round Brilliant Certified stones<br />
Matched fancy and unique pairs<br />
Calibrated melee in Round Brilliant and fancy-shapes<br />
Quality diamond-set jewellery<br />
P + 6 1 3 9 6 5 0 2 24 3<br />
E S A L E S @A DTC . C O M . AU<br />
L1 3 / 2 2 7 C O L L I N S S T R E E T<br />
M E L B O U R N E V I C 3 000<br />
A D T C . CO M . AU
Helping you shine<br />
yesterday, today<br />
& tomorrow.<br />
YOUR LEADING SUPPLIER OF PINK ARGYLE, WHITE DIAMONDS & DIAMOND JEWELLERY<br />
worldshiner.com
Australian Argyle pink diamonds are beyond rare and amongst the<br />
most precious diamonds in the world.<br />
Pink Kimberley jewellery is crafted from an exquisite blend of white diamonds<br />
and natural Australian pink diamonds from the Argyle Diamond Mine,<br />
located in the East Kimberley region of Western Australia. A coveted<br />
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PinkKimberley.com.au<br />
Become a stockist today<br />
02 9290 2199
Loose Diamonds Wholesaler & Desert Rose <strong>Jeweller</strong>y Manufacturer<br />
<br />
<br />
<br />
<br />
<br />
__<br />
__
Pandora’s first-ever art collab<br />
© Keith Haring Foundation. Licensed by Artestar, New York.<br />
For PANDORA marketing purposes only. Not for resale. Must be destroyed after the term of marketing use.
JEWELLERY UNDERSTAND MANUFACTURING THE OUTLOOK AND<br />
ADVANCES FOR THE IN DIAMOND CASTING AND INDUSTRY REFINING<br />
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY NOVEMBER OCTOBER <strong>2022</strong><br />
PINK HOMEGROWN DIAMONDS: JEWELLERY ARE YOU GETTING BRANDS<br />
CONTINUE YOUR MONEYS TO SHINE WORTH? BRIGHTLY<br />
SYDNEY'S NEW AND INTERNATIONAL EXCITING DESIGNS JEWELLERY<br />
FAIR READY EXCEEDS FOR THE ALL BUSY EXPECTATIONS<br />
SEASON<br />
OCTOBER <strong>2022</strong><br />
Contents<br />
This Month<br />
Industry Facets<br />
11 Editorial<br />
16 Upfront<br />
18 News<br />
38 <strong>Jeweller</strong>s Showcase<br />
34<br />
37<br />
72<br />
74<br />
10 YEARS AGO<br />
Time Machine: <strong>October</strong> 2012<br />
LEARN ABOUT GEMS<br />
Garnets: Part II<br />
MY BENCH<br />
Eleanor Hawke<br />
SOAPBOX<br />
Paul Zimnisky<br />
57 CHRISTMAS BUYING GUIDE<br />
Be prepared<br />
4Learn about the newest products on offer<br />
ahead of the busiest sales period of the year.<br />
Features<br />
41<br />
50<br />
HOME GROWN BRANDS<br />
Australian brands increasingly popular with consumers<br />
DIAMOND AND DIAMOND JEWELLERY REPORT <strong>2022</strong><br />
Industry experts voice their thoughts<br />
57<br />
PRODUCTS<br />
Christmas Buying Guide<br />
Better Your Business<br />
50 DIAMONDS<br />
Seeking clarity<br />
4The international diamond industry<br />
is as complex as ever with factors such<br />
as economic uncertainty, the Russia-<br />
Ukraine War and the rise of lab-created<br />
diamonds causing prolonged tension.<br />
66<br />
67<br />
68<br />
69<br />
70<br />
BUSINESS STRATEGY<br />
Inflation hurts customer confidence. STEVEN VAN BELLEGHEM offers helpful insights.<br />
SELLING<br />
RYAN ESTIS believes there is one key to nailing the sale - preparation.<br />
MANAGEMENT<br />
The busiest period of the year is coming up – DAVID BROWN encourages you to be ready.<br />
MARKETING & PR<br />
SIMON DELL explains the importance of visual hierachy in marketing.<br />
LOGGED ON<br />
SHANE O'NEILL outlines where you may be going wrong with your business website.<br />
41 HOME GROWN BRANDS<br />
Unique identity<br />
4Australian jewellery brands are as popular<br />
as ever with consumers as the desire to shop<br />
locally burns brightly following the pandemic.<br />
SAMUEL ORD highlights the advantages local<br />
brands have to offer suppliers.<br />
FRONT COVER Ellendale Diamonds<br />
proudly supplies traceable and ethically<br />
sourced loose diamonds from the Argyle<br />
and Ellendale mines in the Kimberleys<br />
of Western Australia, places renowned<br />
for producing the finest quality white and<br />
coloured stones. Where possible, these<br />
diamonds are used in the manufacture and<br />
design of ‘Desert Rose’ an exquisite range<br />
of Australian jewellery proudly produced<br />
on home soil. To learn more visit:<br />
ellendalediamonds.com.au and<br />
desertrosejewellery.com.au<br />
Seeking xxxclarity<br />
Aussie, Aussie, xxx Aussie Christmas xxxpresents<br />
<strong>October</strong> <strong>2022</strong> | 9
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Editor’s Desk<br />
Australian-made: is homegrown better?<br />
It took almost 100 years, but Australian-made products and services surged in popularity during COVID.<br />
Is homegrown better? ANGELA HAN explores the findings.<br />
Australian consumers have always had a<br />
'casual' relationship with its own brands,<br />
and it could stem from Australia’s early<br />
colonisation period when most products<br />
were imported and felt to be superior to<br />
any locally made counterparts.<br />
But there was indeed a time where it didn’t<br />
mean much for a product or brand to be<br />
‘Australian’!<br />
Even attempts by the government to<br />
convince consumers to support Australian<br />
manufactured products had mixed results.<br />
One only need look to cars, where sales<br />
declined to such an extent that we lost<br />
our entire vehicle manufacturing industry.<br />
While Bob Hawk famously launched the<br />
triangular green and gold kangaroo logo<br />
to support ‘Australian Made’ in 1986, the<br />
truth remained that the merits of buying<br />
Australian made had been promoted by the<br />
government since Federation, and various<br />
manufacturing organisations had been<br />
championing the cause since the 1930s.<br />
It was a complex matter in an increasingly<br />
complex world. Sure, it was easy to tell<br />
Aussies to buy ‘Australian Made’ – but<br />
that meant little when the time came<br />
for people to open their wallets.<br />
Then the COVID-19 global pandemic<br />
changed circumstances overnight.<br />
We know that the catastrophe changed<br />
the average buyer's behaviour forever,<br />
some of it being caused by consumers<br />
having little or no choice in the matter<br />
when global supply chains were disrupted.<br />
Delivery delays meant that consumers<br />
were left to visit shops the 'old fashioned<br />
way' to pick up items even if it cost them<br />
a little more.<br />
'Shop local' was no longer a philosophy,<br />
but a necessity.<br />
Surveys also support the fact that<br />
consumers are increasingly choosing<br />
Australian made products to support<br />
local businesses. According to<br />
Commonwealth Bank, more than 50 per<br />
cent of Australian shoppers want to buy<br />
locally sourced and produced products.<br />
But the question must be asked: Are<br />
shoppers still buying Australian-made<br />
'post-pandemic'?<br />
A study by research firm Roy Morgan<br />
published this June shows the preference<br />
for Australian-made goods have remained<br />
strong over the last year and that it should<br />
continue to remain in-demand; it reported<br />
that a majority of Aussies are more likely<br />
to buy Australian made products in the<br />
coming 12 months – far ahead of products<br />
made in any other countries.<br />
Commenting on the findings, Roy<br />
Morgan CEO Michele Levine explained<br />
that Australian-made goods have easily<br />
remained as the preferred preference.<br />
“A nearly unanimous 96 per cent of<br />
Australians say they are more likely to<br />
buy a product that is marked as ‘made<br />
in Australia’, unchanged on a year ago.<br />
In comparison, less than 1 per cent of<br />
Australians say they are less likely to<br />
buy a product that is ‘made in Australia’.<br />
“Support for buying Australian-made<br />
goods shot-up during 2020 and the<br />
first year of the pandemic and has<br />
remained high ever since as the closure<br />
of international borders and restrictions<br />
on travel during the last two years has<br />
clearly boosted the attraction of buying<br />
locally made goods.<br />
The research echoes similar findings by<br />
the Commonwealth Bank’s inaugural<br />
Consumer Insights Report in May which<br />
pointed out that “more Australians are<br />
choosing to shop locally, supporting local<br />
online retailers and manufacturers as<br />
well as suburban shopping centres and<br />
neighbourhood stores.”<br />
While it comes as no surprise that the<br />
Sure, it was easy<br />
to tell Aussies to<br />
buy ‘Australian<br />
Made’ – but<br />
that meant little<br />
when the time<br />
came for people<br />
to open their<br />
wallets.<br />
preference for Australian made food and<br />
groceries is uppermost given they must<br />
be consumed fresh, various findings<br />
indicate that this preference also extends<br />
to fashion (58 per cent), and recreational<br />
goods (59 per cent).<br />
Also interesting to note that in a different<br />
study conducted by Power Retail, 40 per<br />
cent of consumers said that cheaper<br />
overseas alternatives would deter them<br />
from purchasing Australian made, even<br />
though it is an important criteria in their<br />
decision-making process.<br />
The July study goes on to note: “But you<br />
know what comes in equal second place …<br />
That nothing would deter them from buying<br />
Australian made [which means] that when<br />
the products are available, consumers are<br />
pretty keen to purchase Australian made<br />
(although pricing and range of products<br />
does come into play for some).”<br />
If these studies truly reflect consumer<br />
sentiments, then this augurs well for the<br />
Australian economy, and should be great<br />
news for local jewellery retailers and<br />
suppliers, particularly those who source,<br />
design and manufacture on home soil.<br />
After all, there is great beauty and a bounty<br />
of resources available to the Aussie jeweller.<br />
In our own backyard we've got access to<br />
the world's most covetable diamonds,<br />
white iridescent pearls, opals and vibrant<br />
sapphires – 'Australian-made' at its finest.<br />
Our latest <strong>October</strong> report on homegrown<br />
jewellery brands reveals the ways in which<br />
local suppliers have honed their strategy<br />
during the pandemic to focus on servicing<br />
the unique needs of Australian retailers<br />
and consumers.<br />
Explore with us: what did these industry<br />
outliers do differently for their brand<br />
to thrive, and what makes them<br />
quintessentially Australian?<br />
Angela Han<br />
Publisher<br />
<strong>October</strong> <strong>2022</strong> | 11
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it’s Essential.<br />
14k White Gold<br />
IGI Lab Cert#<br />
532262069<br />
538298440<br />
546203529<br />
Lab Diamond Stud Earrings<br />
536203375<br />
537226089<br />
544241551<br />
544251410<br />
547247800<br />
508153075<br />
488122981<br />
537239025<br />
537241163<br />
534262651<br />
508153090<br />
533218868<br />
534246755<br />
496199301<br />
533218746<br />
536289998<br />
536294116<br />
534262493<br />
536290826<br />
534239437<br />
512232285<br />
542238092<br />
514288883<br />
544251864<br />
544280364<br />
523207685<br />
524250727<br />
532263074<br />
529259545<br />
528227217<br />
487193327<br />
508151963<br />
537216532<br />
539218526<br />
544252123<br />
544241572<br />
1 CT TW<br />
$399<br />
1.5 CT TW<br />
$599<br />
LAB DIAMONDS AS LOW<br />
2 CT TW<br />
$999<br />
F – G Colour • SI1 – SI2 Clarity<br />
Over 5000 diamon<br />
Short and long term memo<br />
Shape<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
PR<br />
PR<br />
PS<br />
EM<br />
EM<br />
EM<br />
CU<br />
CU<br />
RAD<br />
RAD<br />
HS<br />
HS<br />
AS<br />
OV<br />
OV<br />
OV<br />
OV<br />
Weight<br />
5.01<br />
5.02<br />
3.51<br />
3.47<br />
3.3<br />
3.21<br />
3.11<br />
3.07<br />
2.6<br />
2.43<br />
2.39<br />
2.34<br />
2.29<br />
2.2<br />
2.23<br />
2.1<br />
2.03<br />
2<br />
2<br />
2.01<br />
1.61<br />
1.51<br />
2.27<br />
2<br />
3.02<br />
5.35<br />
5.15<br />
5.13<br />
2.26<br />
2.19<br />
5.03<br />
2.07<br />
2<br />
2.05<br />
3.54<br />
4.02<br />
4.02<br />
3.73<br />
3.01<br />
Col/Clar<br />
F-VS2<br />
G-VS1<br />
F-VS2<br />
E-SI1<br />
F-VS1<br />
G-VS1<br />
F-VS1<br />
G-VS1<br />
G-SI2<br />
E-VS1<br />
F-VS1<br />
E-SI1<br />
G-VS1<br />
F-SI1<br />
F-SI2<br />
E-VS1<br />
D-SI2<br />
F-VS1<br />
F-SI1<br />
F-SI2<br />
F-VVS2<br />
G-VVS2<br />
G-VS1<br />
G-VS2<br />
G-VS2<br />
E-VVS2<br />
E-VS1<br />
E-VS1<br />
E-VS1<br />
F-VS1<br />
E-VS1<br />
G-VS2<br />
F-VS1<br />
G-VS2<br />
H-VS1<br />
F-VS1<br />
G-VS2<br />
G-VS1<br />
G-VS1<br />
Cut<br />
EX<br />
ID<br />
EX<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ak<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
EX<br />
EX<br />
EX<br />
ID<br />
ID<br />
Polish<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
Sym<br />
22 W 48th St, New York,<br />
Call: (212)-764-7841 | Email: sa<br />
Website: www.sanghavisolitaire.<br />
22 W 48TH ST, NEW YORK, NY 10036, USA<br />
CALL: +1 (212)-764-7841 | SALES@ELGDIAMONDS.COM<br />
WWW.SANGHAVISOLITAIRE.COM/HOME/DAILYSPECIAL
SCAN THE<br />
SCAN THE QR<br />
QR CODE<br />
TO CODE SEE OUR TO SEE<br />
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OUR INVENTORY<br />
SCAN THE<br />
QR CODE<br />
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LAB DIAMONDS AS LOW AS 97.75% OFF!<br />
AS 97.75% OFF!<br />
Over 5000 diamonds on hand<br />
Short and long<br />
OVER<br />
term<br />
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memo programs<br />
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Lab Diamonds as low as 97.75% off!<br />
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programs available<br />
SHORT AND LONG-TERM MEMO PROGRAMS AVAIL ABLE.<br />
metry<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
Discount%<br />
-95.50<br />
-95.25<br />
-96.10<br />
-94.50<br />
-96.50<br />
-96.70<br />
-96.60<br />
-96.60<br />
-95.75<br />
-96.40<br />
-96.75<br />
-96.20<br />
-96.75<br />
-96.20<br />
-96.20<br />
-96.50<br />
-95.25<br />
-96.60<br />
-96.20<br />
-96.00<br />
-96.60<br />
-96.40<br />
-96.00<br />
-95.75<br />
-95.25<br />
-97.75<br />
-98.00<br />
-97.90<br />
-96.00<br />
-96.50<br />
-97.25<br />
-96.75<br />
-95.75<br />
-95.75<br />
-96.50<br />
-95.00<br />
-95.25<br />
-95.25<br />
-95.50<br />
Depth%<br />
IGI Lab Cert#<br />
62.7<br />
60.8<br />
532262069<br />
60.2<br />
538298440 61<br />
546203529 62.4<br />
536203375 61.5<br />
61.2<br />
537226089<br />
62.5<br />
544241551 62.9<br />
544251410 62.1<br />
547247800<br />
62.4<br />
61.4<br />
508153075 61.5<br />
488122981 61.3<br />
537239025 62.1<br />
61.4<br />
537241163<br />
62.5<br />
534262651 63.1<br />
508153090 59.7<br />
533218868 63.1<br />
62.4<br />
534246755<br />
61.8<br />
496199301 71.8<br />
533218746 73.2<br />
536289998<br />
61.9<br />
65.5<br />
536294116 62.2<br />
534262493 64.5<br />
536290826 68.5<br />
62.9<br />
534239437<br />
61.7<br />
512232285 68.4<br />
542238092 60.9<br />
514288883 62.8<br />
63.7<br />
544251864<br />
62.2<br />
544280364 63.6<br />
523207685 64.1<br />
524250727<br />
63.4<br />
532263074<br />
529259545<br />
528227217<br />
487193327<br />
508151963<br />
537216532<br />
539218526<br />
544252123<br />
544241572<br />
Table%<br />
56.5<br />
59.5<br />
61<br />
58.5<br />
57<br />
59<br />
59<br />
57.5<br />
55<br />
57.5<br />
57.5<br />
57.5<br />
58.5<br />
59<br />
56.5<br />
59.5<br />
58<br />
56.5<br />
61.5<br />
55.5<br />
57.5<br />
58<br />
70<br />
75<br />
60.5<br />
61.3<br />
65.5<br />
64.5<br />
64.5<br />
62<br />
65.5<br />
60<br />
55.5<br />
55.5<br />
64<br />
62<br />
64.5<br />
60<br />
59.5<br />
NY 10036, USA<br />
les@elgdiamonds.com<br />
com/Home/DailySpecial<br />
Shape<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
PR<br />
PR<br />
PS<br />
EM<br />
EM<br />
EM<br />
CU<br />
CU<br />
RAD<br />
RAD<br />
HS<br />
HS<br />
AS<br />
OV<br />
OV<br />
OV<br />
OV<br />
Total$<br />
$11385.22<br />
$12041.72<br />
$4038.26<br />
$4771.25<br />
$3869.25<br />
$3071.97<br />
$3542.29<br />
$3027.02<br />
$1359.15<br />
$2055.78<br />
$1708.85<br />
$1556.10<br />
$1451.29<br />
$1362.68<br />
$1118.57<br />
$1727.25<br />
$1456.02<br />
$1496.00<br />
$1238.80<br />
$1061.28<br />
$947.00<br />
$815.40<br />
$1407.40<br />
$1232.50<br />
$2940.72<br />
$7102.12<br />
$5768.00<br />
$6018.98<br />
$1627.20<br />
$1303.05<br />
$7746.20<br />
$975.49<br />
$1445.00<br />
$1263.31<br />
$2478.00<br />
$7135.50<br />
$5251.12<br />
$3986.44<br />
$3047.62<br />
Weight<br />
5.01<br />
5.02<br />
3.51<br />
3.47<br />
3.3<br />
3.21<br />
3.11<br />
3.07<br />
2.6<br />
2.43<br />
2.39<br />
2.34<br />
2.29<br />
2.2<br />
2.23<br />
2.1<br />
2.03<br />
2<br />
2<br />
2.01<br />
1.61<br />
1.51<br />
2.27<br />
2<br />
3.02<br />
5.35<br />
5.15<br />
5.13<br />
2.26<br />
2.19<br />
5.03<br />
2.07<br />
2<br />
2.05<br />
3.54<br />
4.02<br />
4.02<br />
3.73<br />
3.01<br />
Col/Clar<br />
F-VS2<br />
G-VS1<br />
F-VS2<br />
E-SI1<br />
F-VS1<br />
G-VS1<br />
F-VS1<br />
G-VS1<br />
G-SI2<br />
E-VS1<br />
F-VS1<br />
E-SI1<br />
G-VS1<br />
F-SI1<br />
F-SI2<br />
E-VS1<br />
D-SI2<br />
F-VS1<br />
F-SI1<br />
F-SI2<br />
F-VVS2<br />
G-VVS2<br />
G-VS1<br />
G-VS2<br />
G-VS2<br />
E-VVS2<br />
E-VS1<br />
E-VS1<br />
E-VS1<br />
F-VS1<br />
E-VS1<br />
G-VS2<br />
F-VS1<br />
G-VS2<br />
H-VS1<br />
F-VS1<br />
G-VS2<br />
G-VS1<br />
G-VS1<br />
Cut<br />
EX<br />
ID<br />
EX<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ak<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
EX<br />
EX<br />
EX<br />
ID<br />
ID<br />
Polish<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
Symmetry<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
Discount%<br />
-95.50<br />
-95.25<br />
-96.10<br />
-94.50<br />
-96.50<br />
-96.70<br />
-96.60<br />
-96.60<br />
-95.75<br />
-96.40<br />
-96.75<br />
-96.20<br />
-96.75<br />
-96.20<br />
-96.20<br />
-96.50<br />
-95.25<br />
-96.60<br />
-96.20<br />
-96.00<br />
-96.60<br />
-96.40<br />
-96.00<br />
-95.75<br />
-95.25<br />
-97.75<br />
-98.00<br />
-97.90<br />
-96.00<br />
-96.50<br />
-97.25<br />
-96.75<br />
-95.75<br />
-95.75<br />
-96.50<br />
-95.00<br />
-95.25<br />
-95.25<br />
-95.50<br />
Depth%<br />
62.7<br />
60.8<br />
60.2<br />
61<br />
62.4<br />
61.5<br />
61.2<br />
62.5<br />
62.9<br />
62.1<br />
62.4<br />
61.4<br />
61.5<br />
61.3<br />
62.1<br />
61.4<br />
62.5<br />
63.1<br />
59.7<br />
63.1<br />
62.4<br />
61.8<br />
71.8<br />
73.2<br />
61.9<br />
65.5<br />
62.2<br />
64.5<br />
68.5<br />
62.9<br />
61.7<br />
68.4<br />
60.9<br />
62.8<br />
63.7<br />
62.2<br />
63.6<br />
64.1<br />
63.4<br />
Table%<br />
56.5<br />
59.5<br />
61<br />
58.5<br />
57<br />
59<br />
59<br />
57.5<br />
55<br />
57.5<br />
57.5<br />
57.5<br />
58.5<br />
59<br />
56.5<br />
59.5<br />
58<br />
56.5<br />
61.5<br />
55.5<br />
57.5<br />
58<br />
70<br />
75<br />
60.5<br />
61.3<br />
65.5<br />
64.5<br />
64.5<br />
62<br />
65.5<br />
60<br />
55.5<br />
55.5<br />
64<br />
62<br />
64.5<br />
60<br />
59.5<br />
Total$<br />
$11385.22<br />
$12041.72<br />
$4038.26<br />
$4771.25<br />
$3869.25<br />
$3071.97<br />
$3542.29<br />
$3027.02<br />
$1359.15<br />
$2055.78<br />
$1708.85<br />
$1556.10<br />
$1451.29<br />
$1362.68<br />
$1118.57<br />
$1727.25<br />
$1456.02<br />
$1496.00<br />
$1238.80<br />
$1061.28<br />
$947.00<br />
$815.40<br />
$1407.40<br />
$1232.50<br />
$2940.72<br />
$7102.12<br />
$5768.00<br />
$6018.98<br />
$1627.20<br />
$1303.05<br />
$7746.20<br />
$975.49<br />
$1445.00<br />
$1263.31<br />
$2478.00<br />
$7135.50<br />
$5251.12<br />
$3986.44<br />
$3047.62<br />
22 W 48th St, New York, NY 10036, USA<br />
Call: (212)-764-7841 | Email: sales@elgdiamonds.com<br />
Website: www.sanghavisolitaire.com/Home/DailySpecial
Upfront<br />
#Instagram hashtags to follow<br />
Alpha Order<br />
#customjewellery<br />
375,021 POSTS<br />
#diamondsgalore<br />
1,665 POSTS<br />
#gemslover<br />
156,777 POSTS<br />
#toothgems<br />
407,602 POSTS<br />
#opalsupplier<br />
34,555 POSTS<br />
#diamonddays<br />
27,801 POSTS<br />
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636,087 POSTS<br />
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30,501 POSTS<br />
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552,405 POSTS<br />
#gemshow<br />
257,302 POSTS<br />
HISTORIC GEMSTONE<br />
Talisman of Charlemagne<br />
4The Talisman of Charlemagne is a ninth<br />
century Carolingian reliquary encolpion that is<br />
believed to have once belonged to Charlemagne,<br />
the first Holy Roman Emperor.<br />
The Talisman is currently located in Rheims<br />
in the Palace of Tau, in Paris. The 7cm long<br />
medallion is one of the few surviving items<br />
of goldsmithery from the ninth century, and<br />
is believed to have once featured matching<br />
sapphires that have since been replaced with<br />
enamel glass.<br />
The most significant aspect of the encolpion is that<br />
it contains a piece of wood alleged to be a surviving shard of the True<br />
Cross. The Talisman is the only surviving piece of goldwork which can<br />
be connected with Charlemagne himself with some degree of probability,<br />
however the connection has been questioned by some experts.<br />
Trend Spotting<br />
4Bows are always a major player on<br />
the accessory scene every season,<br />
however they usually catch attention in<br />
the form of bags, shoes and hairbands.<br />
However, as <strong>2022</strong> comes to a close,<br />
one of the most stunning ways to wear<br />
bows is in earring form, traditionally in<br />
either crystals or pearls. Jennifer Behr<br />
is one designer always impressing with<br />
bow designs.<br />
Image credit: Jennifer Behr<br />
Stranger Things<br />
Weird, wacky and wonderful<br />
jewellery news from around the world<br />
Shoelace earrings<br />
4Balenciaga is known for<br />
creating unusual shoes, bags and<br />
accessories, and the brand’s latest<br />
release - shoelace earrings - is no<br />
different. The huge shoelaces are<br />
tied into a bow shape and have a<br />
piece of metal attached to the back<br />
that you put through your ear, with<br />
a retail price of £195. The earrings<br />
were met with a mixed reception<br />
from social media users and comes<br />
just weeks after the fashion brand<br />
was ridiculed for designing leather<br />
trash bags.<br />
Shaken, not stirred<br />
4The only wedding ring ever worn<br />
by James Bond headed to auction<br />
this month. The iconic 007 agent<br />
was married to Contessa Teresa<br />
di Vicenzo. played by Diana Rigg,<br />
in the 1969 film On Her Majesty's<br />
Secret Service. Bond was played by<br />
George Lazenby. <strong>Jeweller</strong> Charles<br />
de Temple created a two-coloured<br />
gold ring for the film which spelled<br />
out "All the time in the world" the<br />
theme song of the film.<br />
Digital Brainwave<br />
Glamorous funeral<br />
HB Antwerp has<br />
released a new<br />
digitally secured<br />
diamond vault.<br />
4Belgian manufacturer HB Antwerp has<br />
unveiled a digitally secured diamond vault for<br />
individual stones.<br />
The HB Capsule can only be opened by<br />
authorised individuals and uses blockchain<br />
technology to provide origin verification and<br />
protect goods from tampering. “Replacing<br />
the century-old parcel paper with an Internet<br />
of Things (IoT) device enables us to not only<br />
store the actual diamonds but also all the<br />
data created during their transformation<br />
process from rough to polished,” said HB<br />
Antwerp co-founder Shai de Toledo.<br />
Campaign Watch<br />
4The Natural Diamond Council has<br />
a new global ambassador with UK<br />
actress Lily James starring as the face<br />
of an upcoming advertising campaign.<br />
James appears in a 45-second<br />
campaign film set in London, with the<br />
tagline ‘to treasure, now and forever’.<br />
The new commercial features a range<br />
diamond jewellery including bracelets,<br />
necklaces, studs, hoops, statement<br />
earrings and spiral bracelets.<br />
4Queen Elizabeth II will be buried<br />
with jewellery valued at more than<br />
£425,000. Three sentimental items<br />
will be with the Queen as she is laid to<br />
rest - her wedding band, crafted from<br />
Welsh gold, a set of pearl earrings<br />
she was gifted at her wedding in<br />
1947, and her iconic necklace which<br />
features three strands of pearls, given<br />
to her by her father, King George<br />
VI. The Queen's jewellery collection<br />
features more than 300 pieces<br />
collected during her 70-year reign.<br />
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY<br />
Published by Befindan Media Pty Ltd<br />
Locked Bag 26, South Melbourne, VIC 3205 AUSTRALIA | ABN 66 638 077 648 | Phone: +61 3 9696 7200 | Subscriptions & Enquiries: info@jewellermagazine.com<br />
Publisher Angela Han angela.han@jewellermagazine.com • Journalists Samuel Ord samuel.ord@jewellermagazine.com | Richard Chiu editorial@jewellermagazine.com<br />
Production Coordinator Lauren McKinnon art@befindanmedia.com • Advertising Toli Podolak toli.podolak@jewellermagazine.com • Accounts Paul Blewitt finance@befindanmedia.com<br />
Copyright All material appearing in <strong>Jeweller</strong> is subject to copyright. Reproduction in whole or in part is strictly forbidden without prior written consent of the publisher. Befindan Media Pty Ltd<br />
strives to report accurately and fairly and it is our policy to correct significant errors of fact and misleading statements in the next available issue. All statements made, although based on information<br />
believed to be reliable and accurate at the time, cannot be guaranteed and no fault or liability can be accepted for error or omission. Any comment relating to subjective opinions should be addressed to<br />
the editor. Advertising The publisher reserves the right to omit or alter any advertisement to comply with Australian law and the advertiser agrees to indemnify the publisher for all damages or liabilities<br />
arising from the published material.
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News<br />
Australian diamond club prompts embarrassing admissions by world federation<br />
The uncertainty plaguing the practices of the<br />
Diamond Dealers Club of Australia (DDCA) and the<br />
World Federation of Diamond Bourses (WFDB) has<br />
developed into an embarrassing admission by the<br />
international organisation.<br />
The mystery began when <strong>Jeweller</strong> attempted to<br />
establish a membership figure for the local club.<br />
While both the DDCA and WFDB boast about trust<br />
and transparency, neither organisation was willing<br />
to affirm this basic information.<br />
In a bewildering turn of events, the WFDB has<br />
admitted that it does not know the number of<br />
members of any of its representatives, including<br />
the DDCA.<br />
Not only did the WFDB choose not make enquiries<br />
following our request for membership information,<br />
Sharon Gefen head of public relations told <strong>Jeweller</strong>:<br />
“The critical point, from our side, is that the WFDB<br />
does not monitor the number of members of any<br />
of the bourses that belong to the federation.”<br />
This admission was startling, especially given the<br />
WFDB’s homepage prominently displays a ‘number<br />
counter’ that quickly counts from zero up to 28,780.<br />
The implication is that the website is calculating<br />
the individual membership numbers from its<br />
29 country-based representatives.<br />
Contradictions<br />
It seems incongruous for the WFDB website to<br />
display a ‘worldwide bourse member’ with a<br />
number counter while simultaneously claiming<br />
that it “does not monitor the number of members<br />
of any of the bourses that belong to the federation”,<br />
as Gefen told <strong>Jeweller</strong>.<br />
This admission, paired with Rami Baron’s prior<br />
refusal to provide any specific membership<br />
information about the Club – in which he has<br />
maintained the president’s position for 14<br />
years – would suggest that the most generous<br />
interpretation of the homepage number counter<br />
is that it is fictitious or, at worst, the WFDB does<br />
monitor its member numbers but refuses to<br />
divulge the Australian figure.<br />
Another matter that appears to be at odds with<br />
the WFDB’s admission that it doesn’t track<br />
membership figures is the organisation’s By-<br />
Laws, specifically those regarding applications for<br />
membership. The website contains the WFDB<br />
By-Laws which seem to contradict, or at least<br />
be at odds with, Gefen’s claim that the individual<br />
bourse membership is not tracked.<br />
Regarding applications for membership, the By<br />
Laws explain a rigorous approval process which<br />
includes the executive committee “appointing 2<br />
(two) representatives from 2 (two) different Bourses<br />
to visit the applicant bourse, to examine the manner<br />
in which it operates, or intends to operate, the<br />
identity of its members, etc. and to report in writing<br />
to the Executive Committee about its findings.”<br />
Rami Baron standing prominently (centre top) above the ‘number counter’ despite the fact the DDCA’s precise membership<br />
figure remains a mystery and the WFDB says it “does not monitor the number of members of any of the bourses.<br />
Not only has the DDCA president chosen not to<br />
make the membership figure public, the WFDB’s<br />
own position and statements about membership<br />
seem irreconcilable.<br />
World Diamond Mark<br />
<strong>Jeweller</strong> has also become aware of other issues<br />
surrounding the management and operation of the<br />
DDCA and the WFDB. In 2012 the WFDB announced<br />
the launch of a not-for-profit marketing initiative<br />
known as ‘World Diamond Mark’.<br />
Its Linkedin page states that the World Diamond<br />
Mark “is a company wholly owned by World<br />
Diamond Mark Foundation, an organisation<br />
that was found (sic) by major diamond industry<br />
stakeholders and controlled by the World<br />
Federation of Diamond Bourses (WFDB). The<br />
aim of the World Diamond Mark® is to ensure<br />
the health and growth of the diamond and<br />
diamond jewellery sector in the luxury industry.”<br />
There is also a World Diamond Mark website and<br />
a Facebook page.<br />
While the World Diamond Mark is “controlled by<br />
the WFDB”, Australian Securities and Investments<br />
Commission (ASIC) records show that Rami and<br />
Liora Baron registered the business name in<br />
March 2013. It was registered under their family<br />
partnership and renewed in March this year.<br />
<strong>Jeweller</strong> contacted Baron on 2 September asking<br />
whether the ASIC registration in Australia was<br />
endorsed and/or approved by the WFDB ‘board’<br />
and minuted at the time, and whether other<br />
individuals related to the WFDB also registered the<br />
same business name in their resident countries.<br />
Baron did not respond to the email, and the same<br />
questions were posed to Gefen who indicated that<br />
the WFDB had no knowledge of the matter, even<br />
though Baron sits on the executive committee.<br />
She advised that the WFDB does not “collect or<br />
‘investigate’ the private businesses of our officers”,<br />
adding, "We are an association of diamond bourses<br />
which is dedicated to promoting a common set<br />
of diamond trading practices and standards, to<br />
enable a successful worldwide trade in rough<br />
and polished diamonds.”<br />
Unsubstantiated claims about New Zealand<br />
At least one mystery appears to have been<br />
resolved, albeit in another embarrassing manner.<br />
Information came to light that the DDCA claims<br />
to be the “New Zealand representative of the<br />
World Federation of Diamond Bourses”.<br />
However, when contacted, The <strong>Jeweller</strong>s<br />
Association of New Zealand (JANZ) and the<br />
<strong>Jeweller</strong>s & Watchmakers New Zealand (JWNZ)<br />
knew nothing about being represented on the<br />
international organisation by Australia or Baron.<br />
<strong>Jeweller</strong> sought clarification from the WFDB<br />
asking: ”Does New Zealand have a diamond<br />
bourse and on what, and whose authority does<br />
the DDCA claim to represent New Zealand?”<br />
In another surprising admission, and<br />
despite the DDCA claiming to represent<br />
an entire country, WFDB president Yoram<br />
Dvash said, “The WFDB is not familiar with<br />
a diamond bourse in New Zealand”.<br />
While Dvash did not answer on whose authority<br />
the DDCA claims to represent New Zealand, it<br />
can be reasonably concluded that either the<br />
DDCA (or the WFDB) appointed itself as the<br />
official representative of the New Zealand<br />
jewellery industry without seeking authority<br />
or 'permission' from the local industry.<br />
At the time of publication no one has been able<br />
to explain which organisation – or to whom in<br />
New Zealand – the DDCA has been reporting<br />
to as that country’s representative.<br />
18 | <strong>October</strong> <strong>2022</strong>
News<br />
Diamond sales continue in secret, regardless of<br />
Russian sanctions - $US250 million a month<br />
Lightbox selling lab-created<br />
diamonds at reduced price<br />
Despite various sanctions being imposed on<br />
Russia and Alrosa, the country’s largest<br />
diamond producer, the international industry<br />
is increasingly being divided.<br />
According to Bloomberg News, a small number<br />
of diamond traders are snapping up large<br />
volumes at lucrative terms.<br />
While many major jewellery houses and large<br />
jewellery chain stores refuse to buy Alrosa<br />
product following the Russian war on Ukraine,<br />
news reports indicate that large orders are still<br />
being filled.<br />
“The secretive sale of Russian diamonds, worth<br />
hundreds of millions of dollars every month, is<br />
fracturing the global trade that stretches from<br />
cutting factories in Mumbai to luxury stores on<br />
New York’s Fifth Avenue. But buyers who are<br />
snapping up large volumes at lucrative terms,<br />
getting to pick and choose the diamonds they<br />
need while others stay away,” Bloomberg reports.<br />
The deals are happening in the background,<br />
“even for the famously secretive diamond world”.<br />
While the undisclosed trade is going<br />
on, Politico is reporting that Alroa’s diamonds<br />
are “on Europe’s radar once again — as is<br />
Belgium’s fraught role in the industry. Despite<br />
six rounds of sweeping European Union<br />
sanctions against Moscow, Russian diamonds<br />
have remained a shining absence from the<br />
embargo list.”<br />
It is reported that the omission is due in part to<br />
Belgium’s major role in the diamond industry:<br />
“Antwerp has, for generations, served as the<br />
main hub for diamonds arriving in Europe —<br />
including from Russia".<br />
However, there is a suggestion that the omission<br />
might be about to change given Russia’s<br />
president Vladimir Putin has pledged to ramp up<br />
its military campaign in Ukraine.<br />
Politico reported that the latest threats could<br />
see the Europe Union “accelerate work on a<br />
new sanctions package. And several diplomats<br />
said Belgium’s hesitance about a Russian<br />
diamond ban is increasingly untenable.<br />
“Publicly, Belgium has pledged not to block<br />
diamond sanctions. It has also expressed<br />
concerns that such a move may harm EU<br />
economies more than Russia’s purse. Privately,<br />
Belgian diplomats have successfully lobbied<br />
EU officials to keep the precious stones off the<br />
sanctions list, according to numerous diplomats<br />
familiar with the sanctions discussions.”<br />
However, should Belgium politicians finally take<br />
meaningful action, it could mean little given that,<br />
according to Bloomberg, Alrosa’s sales now<br />
equate to more than $US250 million a month.<br />
This figure is “currently only about $50 to $100<br />
million a month below pre-war levels, according<br />
to people familiar with the matter.”<br />
It has been widely reported that Indian diamond<br />
manufacturers are still acquiring the great<br />
majority of Russian rough.<br />
“There is no indication that any sales have<br />
breached sanctions or laws. But there is still<br />
a widespread unease about the implications of<br />
dealing in Russian goods, said the people.<br />
"The deals are being done quietly — even by<br />
the closed-doors standards of the famously<br />
secretive diamond world — and Alrosa<br />
has stopped publishing any information<br />
on its sales or financial performance,”<br />
the Bloomberg articles state.<br />
The Indian city of Surat – around 300 kilometres<br />
north of Mumbai - is responsible for more than<br />
90 per cent of the cutting and polishing of the<br />
global supply.<br />
<strong>Jeweller</strong> has previously reported that the<br />
disruption to the supply of rough diamonds<br />
caused by the ongoing sanctions against Russian<br />
mining giant Alrosa has led to much shorter<br />
workweeks and the closure of several cut and<br />
polish factories in India.<br />
In May, around 250,000 Indian workers were<br />
placed on unpaid leave for two weeks.<br />
Many European and Middle Eastern banks<br />
have stopped the US dollar financing of Alrosa<br />
diamonds, which has resulted in Indian banks<br />
filling the void.<br />
“A few Indian banks that have become more<br />
comfortable in recent months with how to<br />
facilitate transactions in other currencies,<br />
primarily euros and rupees.<br />
“In one sign of ongoing wariness, IndusInd<br />
Bank, one of the biggest financiers of India’s<br />
diamond buyers, has been requiring customers<br />
in those deals to sign waivers acknowledging<br />
they’re responsible if any transactions are<br />
frozen, according to people familiar with the<br />
situation,” Bloomberg reports.<br />
Lightbox Jewelry, the De Beers-owned lab-created<br />
diamond jewellery business, has confirmed it<br />
has been selling lower-quality diamonds at a<br />
significantly reduced price.<br />
The Lightbox Basics collection sets lab-created<br />
white diamonds in a sterling silver setting with a<br />
minimum standard of SI clarity, faint colour, and<br />
a ‘very good’ cut.<br />
Loose diamonds from the collection have been<br />
available since February.<br />
According to reporting by Rapaport News, a<br />
Lightbox spokesperson confirmed that diamonds<br />
from the collection have been sold for as low as<br />
$US600 ($AU895).<br />
“True to Lightbox’s mission - to make the sparkle<br />
of a diamond available to more people, more often<br />
- Lightbox Basics offers a still-beautiful stone at<br />
a lower price, giving consumers the opportunity<br />
to get the most sparkle for their budget,” the<br />
spokesperson said.<br />
In the past, Lightbox has highlighted $US800 as<br />
a crucial price point. Per the company’s website:<br />
“Many lab-grown diamonds are priced just like<br />
natural diamonds, misleadingly suggesting size<br />
plus quality equals rare and expensive. At Lightbox,<br />
high quality comes as standard. The price just<br />
reflects the carat weight.<br />
“Our leading technology also means we can create<br />
lab-grown diamonds in colors that are extremely<br />
rare in nature, like blush pink and soft blue. And<br />
the price? No difference. Always $US800 a carat.”<br />
Lightbox was launched in 2018 and operates out<br />
of Portland, Oregon, producing more than 200,000<br />
diamonds each year.<br />
In June of this year, Steve Coe stepped down<br />
from his position as CEO. Coe joined the Lightbox<br />
project in 2017 after spending more than two<br />
decades working with De Beers synthetic diamond<br />
manufacturing unit.<br />
MORE BREAKING NEWS<br />
JEWELLERMAGAZINE.COM<br />
<strong>October</strong> <strong>2022</strong> | 19
News<br />
Significant rise in sales for Australian jewellery retailers<br />
Retail Edge has highlighted a dramatic increase in<br />
sales performance following the release of retail<br />
data analysis for August.<br />
Retail Edge’s data is gathered from POS software<br />
located in more than 400 Australian independent<br />
retail jewellery stores.<br />
In August, comparative overall sales dollars rose<br />
by 62 per cent compared with 2021.<br />
The comparative units sold category was a similar<br />
story, rising by 61 per cent compared with 2021.<br />
Comparative average sale (inventory only) dropped<br />
2.6 per cent, from $238 to $232.<br />
Retail Edge sales manager Mike Dyer said the data<br />
was pleasing while noting the importance of context.<br />
“As stated last month, when reviewing the<br />
numbers to remember that July, August and<br />
September 2021 and 2020 were impacted by<br />
lockdowns and so will have had an influence on<br />
the growth numbers,” he explained.<br />
“There were very good results across the product<br />
categories. The drill down into the sales dollars<br />
numbers show diamond set precious metal<br />
jewellery was up 27 per cent compared to August<br />
2021 and a healthy 39 per cent on the 2-year<br />
difference to July 2020.”<br />
He added: “This is the first month comparative<br />
average sale drop that I can recall.”<br />
Coloured stone set precious metal jewellery sales<br />
dollars rose an impressive 106 per cent compared<br />
with August 2021. Non-stone precious metal<br />
jewellery sales dollars were strong with a 63 per<br />
cent jump compared to August 2021 and a 40 per<br />
cent growth on the 2-year difference to August 2020.<br />
Silver and alternative metals jewellery sales dollars<br />
were also a positive contributor with a 77 per cent<br />
rise compared with 2021.<br />
"The pattern in layaways [laybys] showed an<br />
increase of 4 per cent in dollars between new ones<br />
and pickups or cancellations,” Dyer said.<br />
“This continues to indicate good cashflow<br />
and customer visitations as a result. For the<br />
third consecutive month it also indicates that<br />
consumers may be planning and budgeting their<br />
jewellery purchases.”<br />
He continued: “The pattern in services [repairs]<br />
shows the reverse pattern with a decrease of 26<br />
per cent in dollar values between new [incoming]<br />
and pickups or cancellations. This is the second<br />
consecutive month of this pattern.<br />
“If this pattern is also reflected in your business, it<br />
points to the need to lift the volume and frequency<br />
of your marketing noise around the services area of<br />
your business.”<br />
Retail Edge’s data is intended to act as a<br />
representative sample of the wider jewellery<br />
industry.<br />
Credit card data shows jewellery sales continue upward<br />
Australian Retailers Association CEO Paul Zahra<br />
indicated that Mastercard Pulse data shows that<br />
discretionary retail sales have recovered well from<br />
the impact of COVID restrictions last year’s, with<br />
jewellery sales up 107 per cent compared to the<br />
same month in 2021.<br />
Overall retail sales had increased 27 per cent in<br />
August compared to the same month last year.<br />
Pulse analyses national retail data across<br />
all payment types and the findings are based<br />
on aggregate sales activity in the Mastercard<br />
payments network, coupled with survey-based<br />
estimates for certain other payment forms, such<br />
as cash and cheque.<br />
“In August last year, our two largest states<br />
were in lockdown, so it’s not surprising to see<br />
discretionary retail categories record such<br />
significant growth compared to 12 months ago.<br />
What’s pleasing though is that sales are also up<br />
compared to pre-pandemic levels across most<br />
retail categories,” Mr Zahra said.<br />
“While consumer spending is strong for now, the<br />
concern is that we haven’t seen the full impact of<br />
the interest rate hikes hit household budgets.<br />
According to the government, inflation is also<br />
yet to reach its forecast peak, so we could see a<br />
softening of sales as we head into 2023.”
News<br />
Strong attendance for Nationwide <strong>Jeweller</strong>s at <strong>2022</strong> Sydney Trade Fair<br />
With the dust settling after a busy <strong>2022</strong><br />
International <strong>Jeweller</strong>y Fair, Nationwide <strong>Jeweller</strong>s<br />
is celebrating a membership attendance rate that<br />
exceeded the expectations of organisers.<br />
More than 320 members of Australia’s largest<br />
buying group took part in the Fair at Darling<br />
Harbour’s International Convention Centre on<br />
August 27-29, equaling the level of participation<br />
seen in 2019, prior to the COVID pandemic.<br />
Nationwide’s program began with a morning<br />
briefing on the opening day which was wellattended,<br />
with more than 180 members taking part<br />
in order to receive information about special offers<br />
from preferred suppliers exhibiting at the Fair.<br />
Nationwide also offered a free hands-on diamond<br />
training workshop, as well as seminars on key<br />
business topics.<br />
On Sunday evening, Nationwide hosted its annual<br />
Award Dinner at the Hyatt Regency.<br />
For the first time in the history of the group, two<br />
members were named the joint winners of the<br />
Australian Member of the Year Award.<br />
Stephen Sparke <strong>Jeweller</strong>s, from Moree in New<br />
South Wales, and Jade <strong>Jeweller</strong>s, from Burpengary<br />
in Queensland, shared the honours.<br />
The New Zealand Member of the Year Award was<br />
won by Precious Metals Group, from Hamilton.<br />
The Australian Supplier of the Year Award was won<br />
by <strong>Jeweller</strong>y Centre, while Worth and Douglas was<br />
crowned New Zealand’s Supplier of the Year.<br />
The coveted Apprentice of the Year Award was<br />
taken away by Ezekiel Maxwell Torrents, from Haab<br />
Designer <strong>Jeweller</strong>s in Launceston, Tasmania.<br />
The second-year apprentice managed to come<br />
out ahead of a record level of entrants to the<br />
competition and claim the Nathan Cameron<br />
Perpetual Trophy in its 11th year.<br />
Nationwide <strong>Jeweller</strong>s membership manager<br />
Erin Keller said it was excellent to see so many<br />
members under the one roof once again.<br />
“Our attendance numbers exceeded our<br />
expectations and we were pleased with the<br />
turnout,” Keller said.<br />
“We have had positive feedback from both<br />
members and suppliers assuring us that nothing<br />
quite beats the face-to-face interactions of the<br />
trade fair, and that they considered the event a<br />
success for their business.”<br />
Nationwide also acknowledged those members<br />
celebrating 10, 15, 20, 25, and 30-year milestones<br />
Nationwide <strong>Jeweller</strong>s' Member of the Year (AU) –<br />
Jade <strong>Jeweller</strong>s | Colin Pocklington, Gary & Laurene Coates<br />
since joining the group.<br />
“While the total number of orders placed at the<br />
Fair won’t be known for another month or so, the<br />
use of Nationwide’s six-month interest free finance<br />
offer has increased compared with 2019,” Keller<br />
explained.<br />
“That’s a good indicator that the Fair was a success<br />
for all of our members.”<br />
From here, Nationwide will turn its attention to the<br />
next Time Out conference, which is expected to take<br />
place in May of 2023 at the Shangri-La Resort and<br />
Spa in Fiji.
News<br />
Muzo x Glajz's latest emerald and pink diamond collaboration launched<br />
pink diamonds weighing a total of 0.31 carats set<br />
in 18-carat rose gold and platinum.<br />
It also features an elaborately detailed back<br />
design with an 'M' set in white diamonds and even<br />
more of Argyle's vibrant pinks - a double entendre<br />
for "Muzo" and "Magic.".<br />
“The Earth Magic ll pendant is a tribute to the<br />
earth’s alchemy,” Glajz said.<br />
Colombia’s Muzo Emerald and Argyle Pink<br />
Diamonds of Australia have announced the<br />
launch of a new collaboration in the Green Jewel<br />
collection using rare Colombian emeralds and<br />
Argyle pink diamonds.<br />
The Earth Magic II is a pendant designed by<br />
Singapore-based Australian John Glajz, an<br />
Argyle Pink Diamonds Icon partner.<br />
The pendant features a super gem-quality<br />
7.66-carat Muzo emerald for the centrepiece and<br />
is accented by a rare 0.43-carat fancy purplish red<br />
and 1.06-carat signature pink Argyle diamonds.<br />
The pendant is surrounded by white diamond<br />
baguettes and a double halo setting of Argyle<br />
It is the second precious fusion of the finest pink<br />
and green gems from two famous mines, Argyle<br />
and Muzo represented by an exceptional jewel in<br />
the Earth Magic series of our unique Green Jewel<br />
collections.”<br />
That partnership between Muzo and Argyle began<br />
four years ago with the Green Jewel collection.<br />
The Earth Magic I broke the record as the highestselling<br />
Colombian emerald auctioned to date.<br />
Jason Woods, CEO, Muzo said, “Through our<br />
collaboration with Argyle we have found a<br />
forward-thinking brand with a similar ethos to<br />
ours, and yet another opportunity to tell a story<br />
through two powerful, legendary gemstones.”<br />
He added, “With our newest work, we continue to<br />
honour the heritage and history of our celebrated<br />
Muzo mine in Colombia.”<br />
Glajz was also responsible for two other projects<br />
with the initial undertaking called The Green<br />
Jewel Collection, followed by The Green Jewel<br />
Collection Encore.<br />
Colombian emeralds are known for their<br />
remarkable quality and the Muzo emerald<br />
mines are one of the foremost sources of the<br />
gemstones.<br />
Emeralds are also commonly sourced from Brazil,<br />
Zambia, Zimbabwe, and Ethiopia.<br />
The only Argyle pink diamonds available are the<br />
remaining polished stones in inventory. Rio Tinto,<br />
the owner of Argyle Mine, closed the mine in late<br />
2020 after more than 30 years of operation.<br />
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News<br />
Australian opal expert and gemstone leader Andrew Cody passed away<br />
Andrew Cody, one of Australia’s leading opal<br />
experts passed on 12 September. He was a<br />
prominent member of the international gem<br />
industry and at various times held the positions of:<br />
president Australian Gem Industry Association.<br />
He was also the founder and chairman Australian<br />
<strong>Jeweller</strong>y and Gemstone Industry Council, special<br />
projects officer of CIBJO (The World <strong>Jeweller</strong>y<br />
Council) and president International Colored<br />
Gemstone Association.<br />
His industry knowledge and work also helped in<br />
the proclamation of opal as Australia’s National<br />
Gemstone, the production of an award-winning<br />
opal stamp series with Australia Post, the design<br />
of the official National Gemstone emblem and<br />
development of the official Opal Nomenclature.<br />
Andrew’s expertise was recognised internationally.<br />
For more than five decades he was a regular<br />
speaker at international forums and was<br />
awarded an Honorary Fellowship of both the<br />
Australian Gemmological Association and the<br />
Gemmological Association of Great Britain.<br />
He also served as a member of Thailand’s JTC-<br />
AIGS Leaders Council.<br />
After studying Valuations at Royal Melbourne<br />
Institute of Technology in 1971 – at the age of<br />
20 – Andrew decided to pursue his passion for<br />
gems and established a wholesale opal and gem<br />
cutting business. Cody Opal Australia became very<br />
successful and soon began international exports.<br />
He was later to become joint founder of<br />
The National Opal Collection with offices,<br />
showrooms and museums in both Sydney and<br />
Melbourne. The museums displayed a large<br />
opalised fossil collection which includes a 2.5<br />
metre opalised pliosaur, and the opalised upper<br />
jaw of a rare mesozoic mammal.<br />
The businesses were winners of both Government<br />
Export and Tourism Industry Awards and he was<br />
awarded a Gold Commendation from the Lord<br />
Mayor of Melbourne and was a research associate<br />
of The Australian Museum.<br />
Andrew grew up in the Melbourne suburbs of<br />
Hawthorn East and Ivanhoe. He enjoyed sailing<br />
and sports and at 12 years of age began collecting<br />
fossils, minerals, and gemstones. He began<br />
cutting opal in 1964 after a school excursion to<br />
Coober Pedy.<br />
For the past 20 years, Andrew suffered from a rare<br />
form of blood cancer and passed away peacefully<br />
surrounded by his wife Lynore, and sons James,<br />
Patrick and William. He was born on 21 August<br />
1951 and died at the age of 71.<br />
Bracelets & Necklaces | Bangles | Earrings<br />
Pendants | Fine Chains | Rings | Findings<br />
Personalised <strong>Jeweller</strong>y | Cufflinks<br />
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Phone 03 9662 4486<br />
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News<br />
Anti-money laundering agency pursues Perth Mint<br />
with money laundering and anti-terrorism<br />
financing rules.<br />
CEO Nicole Rose said all businesses regulated<br />
by AUSTRAC must comply with their obligations<br />
under the AML/CTF Act.<br />
“AML/CTF compliance requirements are in place<br />
to protect businesses, the financial system, and<br />
the Australian community from criminal threats,”<br />
she said.<br />
The Australian Government’s financial intelligence<br />
agency has ordered the appointment of an external<br />
auditor to assess the operations of the Perth Mint.<br />
Gold Corporation is the parent company of the<br />
Perth Mint, Australia’s official bullion mint. The<br />
Perth Mint was established in 1899 and is owned<br />
by the Government of Western Australia.<br />
The Australian Transaction Reports and Analysis<br />
Centre (AUSTRAC) announced this week that an<br />
external auditor will compile a report within 180<br />
days, evaluating the Gold Corporation’s compliance<br />
“AUSTRAC does not hesitate to take action where<br />
a business that we regulate is failing to satisfy their<br />
responsibility to protect themselves and Australia’s<br />
financial system from criminal activity.<br />
“We will continue to work closely with Gold<br />
Corporation to address compliance concerns.”<br />
Gold Corporation completed more than $26 billion<br />
in sales of precious metals in 2021.<br />
In January of this year, former Synergy CEO Jason<br />
Waters was appointed CEO of Gold Corporation,<br />
replacing acting CEO John Collins. Prior to Collins,<br />
Richard Hayes served as CEO for seven years.<br />
131-carat diamond found by Australian miner<br />
yet again, its enormous diamond potential.<br />
I am absolutely convinced that with discoveries of<br />
this nature we will be, in the near future, among<br />
the biggest diamond producers in the world.<br />
“Companies can always count on the Ministry's<br />
full institutional support to ensure the proper<br />
performance of their operations.”<br />
Australian-based miner Lucapa Diamond Company<br />
has discovered a 131-carat white Type IIa diamond<br />
at its Lulo site in Angola.<br />
The company claims the large stone is the 29th<br />
diamond it has unearthed of more than 100 carats<br />
and the fourth 100+ carat diamond recovered at<br />
Lulo in <strong>2022</strong>.<br />
Lucapa Diamond Company Limited is listed on<br />
the Australian Stock Exchange.<br />
Managing director Stephen Wetherall said, “We<br />
are extremely pleased with the recovery of another<br />
spectacular 100 plus carat Type IIa diamond at Lulo,<br />
which continues to illustrate the success of our long<br />
partnership with Endiama and Rosas & Petalas, the<br />
unique nature of the Lulo resource and the potential<br />
of the primary source exploration program.”<br />
The Angolan Minister of Mineral Resources, Oil and<br />
Gas, Diamantino Azevedo said, “Angola has proven,<br />
In July, Lucapa unearthed a large 170-carat pink<br />
diamond from Lulo. The type IIa rough has been<br />
dubbed the Lulo Rose and is believed to be the<br />
largest pink diamond discovered in the past three<br />
centuries.<br />
At the time Wetherall said, “Lulo is an exceptional<br />
alluvial resource and is truly a gift. We are once<br />
again made very proud by yet another historic<br />
recovery" he said.<br />
While in December 2021 the company announced<br />
the acquisition of Merlin Diamond Mine in the<br />
Northern Territory. Rio Tinto previously operated<br />
the mine before North Australian Diamonds, also<br />
known as Merlin Diamonds, acquired it in 2004.<br />
Merlin Diamond Mine is expected to be the biggest<br />
commercial diamond mining operation in Australia<br />
with a targeted yield of 153,000 carats per year<br />
when it begins full-scale production in 2024.<br />
Overall, Lucapa aims to produce 2.1 million<br />
carats throughout Merlin’s expected 14-year<br />
‘lifespan’ based on the company’s feasibility study,<br />
with projections centred on a combination of open<br />
pit and vertical mine development.<br />
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News<br />
Trading of lab-created diamonds begins on IDEX network<br />
Demands on Queens jewels<br />
The IDEX diamond trading network has made<br />
it possible for members to trade lab-created<br />
diamonds for the first time.<br />
IDEX (International Diamond Exchange) offers<br />
a live online database where members can<br />
purchase and sell any of the more than one<br />
million diamonds available.<br />
Members who trade lab-created diamonds will be<br />
given access to all of IDEX’s guaranteed diamond<br />
transaction program, including authentication by<br />
trained gemmologists and consolidated shipping<br />
from all global diamond centres.<br />
Tamar Katzav, chief operating officer IDEX, said it<br />
was an offer that many members of the network<br />
had requested for some time.<br />
"We believe that with the right marketing and<br />
transparent business practices, lab-grown<br />
diamonds are part of the diamond trade and<br />
here to stay,” Katzav said.<br />
“As always IDEX strives to provide its members<br />
with the facilities to carry out their daily business<br />
online, accompanied with our top-notch trusted<br />
services.<br />
"Many IDEX members have been waiting for us<br />
to launch this added feature, and in less than<br />
24 hours from the time of launch we already had<br />
more than 20,000 diamonds posted for sale online,<br />
and growing rapidly as more and more members<br />
sign up to the new service."<br />
All lab-created diamond listings are indexed<br />
separately from natural diamonds to prevent<br />
any potential confusion.<br />
Following the passing of Queen Elizabeth II – after<br />
holding a 70-year reign – there has been a renewed<br />
push for the legendary Koh-i-Noor diamond to be<br />
returned to its country of origin, India.<br />
According to reporting by the Daily Mail before her<br />
death the Queen indicated that at the coronation<br />
of Charles III the Queen Mother’s Crown should be<br />
worn by Queen Consort Camilla Parker Bowles.<br />
The Queen Mother’s Crown is decorated with more<br />
than 2,800 diamonds, the most significant of all<br />
being the 105-carat Koh-i-Noor, positioned in the<br />
middle of the front cross.<br />
For many experts, the Type IIa Koh-i-Noor is the<br />
world’s most valuable diamond. It was discovered<br />
at the Kollur Mine in India in the 14th century.<br />
The rough was believed to be in excess of 800<br />
carats. Following the cutting and polishing, the<br />
diamond passed hands between various regional<br />
powers in Asia leading up to the British annexation<br />
of Punjab in 1849.<br />
The stone was ceded to Queen Victoria during the<br />
colonisation of India and the British royal family has<br />
maintained its possession for the past 170 years.<br />
Following India’s establishment of independence in<br />
1947, the government has consistently requested<br />
its return.<br />
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News<br />
Fancy colour diamond unearthed at Ellendale project<br />
Canadian 71-carat yellow<br />
Burgundy Diamond Mines (BDM) has announced<br />
the discovery of the first fancy colour diamond<br />
at the Ellendale project since operations were<br />
restarted.<br />
The Ellendale Mine once produced approximately<br />
50 per cent of the world’s yellow diamonds,<br />
however, operations were suspended in 2015 when<br />
Kimberley Diamond Company entered voluntary<br />
administration.<br />
BDM – led by managing director Peter Ravenscroft<br />
– acquired leases at Ellendale in early 2020 with<br />
plans to return the mine to ‘fully operational’ by<br />
March of 2023.<br />
Recently, BDM has announced the recovery<br />
of a 1.51-carat fancy colour yellow diamond,<br />
octahedral in shape, at the Blina mine which is<br />
adjacent to the Ellendale site.<br />
“The first diamond recovered is an example of the<br />
potential quality of product from the Blina alluvials<br />
and the wider Ellendale project,” Ravenscroft said.<br />
“We look forward to building towards commercial<br />
production of these exquisite fancy-yellow<br />
diamonds.”<br />
He added: “This is especially timely as we finalise<br />
arrangements for the upcoming Australian launch<br />
of our ultra-luxury Maison Mazerea diamond brand<br />
later this month, which will be the vehicle to market<br />
and sell polished retail stones.”<br />
BDM put pen-to-paper on an agreement to supply<br />
polished fancy colour diamonds to jeweller Solid<br />
Gold Diamonds in July.<br />
The Maison Mazerea line will be used for bridal<br />
and engagement jewellery, while a second line of<br />
fine jewellery featuring high-value diamonds will<br />
debut in <strong>October</strong>. Solid Gold Diamonds have a<br />
flagship store in Perth, as well as a second location<br />
in Adelaide.<br />
Australian company India Bore Diamond<br />
Holdings (IBDH) controls other sections of<br />
the Ellendale site and recently confirmed<br />
the discovery of two separate layers of<br />
diamondiferous gravel deposits.<br />
Arctic Canadian<br />
Diamond Company<br />
has discovered a<br />
71.26-carat vivid<br />
yellow diamond.<br />
The large stone<br />
was unearthed last<br />
month at the Ekati<br />
Mine Misery Pipe, in<br />
Canada’s Northwest<br />
Territories.<br />
The company claims it is the largest fancy vivid<br />
yellow diamond discovered in Canada.<br />
Rory Moore, CEO of Arctic Canadian Diamond<br />
Company said, “This historic fancy vivid yellow<br />
gemstone continues to showcase Canada as a<br />
major player on the world stage for diamond<br />
mining.<br />
“Canadian diamonds are some of the most soughtafter<br />
globally because of responsible mining<br />
practices and environmental stewardship. This<br />
stone is a testament to Ekati’s ability to deliver<br />
value now and into the future.”<br />
Ekati is Canada’s first diamond mine and is known<br />
for supplying premium rough diamond assortments<br />
to the global market for more than 24 years.<br />
18ct Diamond & Precious Coloured Gemstone <strong>Jeweller</strong>y Collection<br />
DJDIAMONDDESIGNS.COM.AU<br />
Daniel Jacuk | 0412 071 103 | sales@djdiamonddesigns.com.au
News<br />
Tiffany & Co launches new advertising campaign with Beyoncé<br />
Award-winning US singer Beyoncé has partnered<br />
with Tiffany & Co for the luxury jewellery company’s<br />
latest campaign, ‘Lose Yourself in Love’.<br />
As a part of the campaign, the singer is wearing a<br />
piece from the Tiffany HardWear collection, made<br />
specifically for the campaign. With 18-carat gold<br />
links, the piece reportedly took more than 40 hours<br />
to assemble and polish.<br />
"I am honored to continue the partnership with<br />
Tiffany & Co. and to explore even deeper how<br />
beautiful our connections are, when we truly<br />
celebrate the relationship and importance of love<br />
that we have for ourselves as individuals.",” she<br />
told ELLE.<br />
Beyoncé, who recently released her seventh solo<br />
album, became an ambassador for the Tiffany & Co<br />
brand in 2021.<br />
The partnership was formed shortly after French<br />
luxury conglomerate Moët Hennessy Louis Vuitton<br />
(LVMH) acquired Tiffany & Co and initially, provoked<br />
backlash among consumers.<br />
Titled ‘About Love’, the campaign paid homage to<br />
Audrey Hepburn’s performance in the 1961 film<br />
Breakfast At Tiffany’s, with Beyoncé wearing a<br />
form-fitting black gown and the legendary Tiffany<br />
Diamond, a 128.54-carat canary yellow stone set in<br />
a diamond pendant.<br />
Just three women – Lady Gaga, Audrey Hepburn,<br />
and socialite Mary Whitehouse, had previously worn<br />
the Tiffany Diamond. The campaign ‘made history’<br />
in the sense that Beyoncé was the first woman of<br />
colour to wear the Tiffany Diamond.<br />
However, social media users were quick to point out<br />
that the diamond was unearthed at the Kimberley<br />
Mine in South Africa in 1877, while the region was<br />
still under British colonial rule.<br />
Beyoncé’s decision to wear the Tiffany Diamond<br />
was described by some a tacit endorsement<br />
for colonialism, with some social media users<br />
declaring the diamond to be a ‘blood diamond’.<br />
The Tiffany Diamond does not meet the criteria<br />
which defines a blood diamond, according to the<br />
United Nations.<br />
According to Insider, Beyoncé was reportedly<br />
unaware of the history of the diamond prior to the<br />
launch of the campaign.<br />
For others – including Washington Post columnist<br />
Karen Attiah – the blame lies with Tiffany & Co.<br />
"The 'About Love' campaign fiasco with Beyoncé<br />
lies largely with Tiffany & Co," Attiah wrote on<br />
Twitter.<br />
"It's the familiar new trend of white companies<br />
using black women 'firsts' to rebrand themselves<br />
as socially conscious — while avoiding meaningfully<br />
dealing with their troubling history/practices.<br />
"I find it astonishing that no one on the Tiffany & Co<br />
team or Team Beyoncé said - 'hey maybe wearing<br />
our huge diamond from the notorious colonial<br />
Kimberley mine in South Africa isn’t a good look for<br />
a campaign about black love and excellence'."<br />
Returning to the upcoming ‘Lose Yourself in Love’<br />
campaign, and Tiffany & Co vice president of<br />
product and communication, Alexandre Arnault,<br />
said the company was honoured to welcome the<br />
return of the singer.<br />
“Beyoncé is an inspiration to so many because she<br />
embodies these qualities,” he said.<br />
Did ancient sea creatures help create the Queen’s diamonds?<br />
Following the death of Queen Elizabeth there has<br />
been renewed interest in the history of the Royal<br />
family’s gemstones and diamonds.<br />
While there has been calls for the return of the<br />
infamous Koh-i-Noor to India, it, along with<br />
the Cullinan II (also known as the Second Star of<br />
Africa), are believed to be ‘super-deep’ diamonds.<br />
According to science website Physorg.com, “An<br />
analysis of the first large diamonds confirmed<br />
to come from deep under the Earth's surface<br />
supports initial predictions showing that the<br />
Smithsonian's famous Hope diamond may be<br />
‘super deep’, originating from more than three<br />
times deeper in the Earth than most diamonds.<br />
“It also suggests, in a new finding, that the ‘Crown<br />
Jewels’ Cullinan diamond may also be a superdeep<br />
diamond.”<br />
The research comes from a study by Dr. Evan<br />
Smith of the Gemological Institute of America<br />
(GIA) and was presented at the Goldschmidt<br />
Geochemistry Conference last year.<br />
"We examined the first large gem diamonds<br />
confirmed to originate from Earth's lower<br />
mantle, which is several times deeper than most<br />
other diamonds. The results support earlier<br />
predictions based on smaller gems, suggesting<br />
that diamonds with properties similar to those<br />
studied, including both the Cullinan and Hope<br />
diamonds, are super-deep diamonds”, Smith<br />
explained.<br />
Smaller diamonds are known to materialise<br />
under high pressure at a relatively shallow depth<br />
of 140-200 kilometres amid oxygen-rich rocks. By<br />
contrast, the biggest diamonds are likely forming<br />
140-200 kilometres below the surface within<br />
patches of oxygen-deprived liquid metal, hence<br />
the term ‘super deep’.<br />
A BBC report published on Friday states that “The<br />
largest diamonds in the British Crown Jewels<br />
may be pieces of the ancient ocean floor, which<br />
have drifted down into the interior of our planet –<br />
then come back up again.”<br />
BBC Future senior journalist Zaria Gorvett<br />
explained, “some of the carbon in super-deep<br />
diamonds may be from ancient sea creatures,<br />
which were buried in oceanic plates that<br />
subsequently drifted down into the mantle”.<br />
She notes, “Nearly 120 years later, the megadiamond<br />
[Cullinan] has not been forgotten.<br />
During the late Queen Elizabeth II's funeral<br />
procession, several of the Cullinan's descendants<br />
were placed on the Monarch's coffin, and rode<br />
along with her – they were only removed as she<br />
was lowered into the royal vault.<br />
“That's because today these giant gems are part<br />
of the Crown Jewels, normally kept in the Tower<br />
of London and brought out for state events – the<br />
Cullinan I now resides in the British Sovereign's<br />
Sceptre, while its next-largest sibling, the<br />
Cullinan II, is embedded in the Imperial State<br />
Crown.”<br />
The 2020 study by Smith - along with Wuyi Wang,<br />
GIA vice president research – analysed the<br />
124-carat diamond and found that it formed at the<br />
deeper end of the possible range – at least 660km<br />
(410 miles) below the Earth's surface.<br />
30 | <strong>October</strong> <strong>2022</strong>
Anyone can make a claim, but<br />
unfortunately exaggeration is a blood<br />
relative of falsehood and fiction.<br />
As they say, the devil is in the details.<br />
Numbers lead you to the detail and<br />
the detail leads you to facts.
WORLD RANKINGS OF JEWELLERY<br />
INDUSTRY PUBLICATIONS<br />
As at 31 March <strong>2022</strong>, <strong>Jeweller</strong> was ranked 65,246, in the world, well<br />
ahead of other jewellery industry titles in more populous countries.<br />
For example, the US magazines JCK, Instore, and National Jeweler,<br />
ranked 87,514, 222,301 and 250,243 respectively, even though the<br />
population of the US is much larger than Australia.<br />
POSITION PUBLICATION COUNTRY<br />
WORLD<br />
RANKING<br />
1 <strong>Jeweller</strong> Australia 65,246<br />
2 JCK USA 87,514<br />
3 Instore Magazine USA 222,301<br />
4 National Jeweler USA 250,243<br />
5 Retail <strong>Jeweller</strong> India 264,557<br />
6 <strong>Jeweller</strong>y Net Asia Hong Kong 371,672<br />
7 Diamond World India 515,279<br />
8 Professional <strong>Jeweller</strong> UK 550,812<br />
9 Solitaire Magazine Singapore 842,952<br />
10 Retail <strong>Jeweller</strong> Magazine UK 1,019,888<br />
11 Indian <strong>Jeweller</strong> India 1,077,502<br />
12 The Jewelry Magazine India 1,195,354<br />
13 <strong>Jeweller</strong>y Outlook UK 1,212,803<br />
14 <strong>Jeweller</strong>y World Australia 1,226,650<br />
15 Art of <strong>Jeweller</strong>y India 1,237,318<br />
Which is why <strong>Jeweller</strong> remains #1.<br />
<strong>Jeweller</strong> has been the leading voice of the Australian and New Zealand jewellery<br />
industries for 25 years, and today we rank #1 in the world.<br />
Alexa, the independent global ranking system for measuring website traffic and<br />
readership, now ranks jewellermagazine.com as the most widely read industry<br />
publication in the world – by far!<br />
Better still, the daily time spent on jewellermagazine.com is more than 21 minutes,<br />
which far exceeds all other international publications, which average only 2–3 minutes<br />
per visitor. Moreover, our ‘page views’ is miles ahead of all other industry publications.<br />
In addition, <strong>Jeweller</strong>’s social media presence dominates and our eMags boast more<br />
than 12.3 million reads.<br />
The numbers speak for themselves - follow the leader, and follow the readers too!<br />
16 <strong>Jeweller</strong>y Focus UK 1,290,905<br />
17 <strong>Jeweller</strong>y Business Canada 1,388,929<br />
18 <strong>Jeweller</strong>s Network South Africa 1,436,224<br />
19 <strong>Jeweller</strong>y Monthly UK 2,196,837<br />
20 Canadian <strong>Jeweller</strong> Canada 2,670,625<br />
21 The Retail Jeweler USA 3,218,391<br />
22 Preziosa Magazine Italy 3,582,030<br />
23 Gold Book Magazine Turkey 4,099,295<br />
24 Bangkok Gems & <strong>Jeweller</strong>y Thailand 4,558,422<br />
25 Hong Kong <strong>Jeweller</strong>y Magazine Hong Kong 6,296,819<br />
26 The New <strong>Jeweller</strong> UAE / India 10,992,912<br />
27 Jewel Trendz India NO DATA<br />
28 Solitaire International Singapore NO DATA<br />
29 <strong>Jeweller</strong>y Time New Zealand NO DATA<br />
POSITION<br />
TRADING PLATFORM /<br />
PUBLICATION<br />
COUNTRY<br />
WORLD<br />
RANKING<br />
1 Rapaport Magazine* USA 139,695<br />
2 Idex* Israel 370,487<br />
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY<br />
Denotes titles connected to diamond trading platforms / publication
NUMBER OF PAGES VIEWED BY READERS<br />
TIME SPENT ON JEWELLERY WEBSITES<br />
BOUNCE RATE / PAGE 'STICKINESS’<br />
Page Views is the number of times a reader visits any page<br />
on a website. A higher Page View figure the better, because it<br />
means readers are more engaged in the content. <strong>Jeweller</strong>’s<br />
Page View count of 12 leads all websites while most others<br />
can only record a single Page View before the reader leaves.<br />
Time-on-Page is the average time a reader spends on a page<br />
while Time-On-Site is how long they spend on the site each day.<br />
<strong>Jeweller</strong> leads the world with a Daily Time of 21.50 minutes,<br />
while most other publications only manage 1-2 minutes. The<br />
more time spent on a website, the better the global ranking.<br />
The Bounce Rate measures the percentage of visits that<br />
consist of only a single page view. It indicates the percentage<br />
of readers that land on a website, and immediately leave<br />
(‘bounce off’) meaning a low bounce rate is optimal. Alexa<br />
records <strong>Jeweller</strong>’s Bounce Rate at less than 25 per cent.<br />
POSITION PUBLICATION COUNTRY PAGE VIEWS<br />
POSITION PUBLICATION COUNTRY<br />
DAILY TIME<br />
(IN MINUTES)<br />
POSITION PUBLICATION COUNTRY<br />
BOUNCE<br />
RATE<br />
1 <strong>Jeweller</strong> Australia 12.00<br />
2 Retail <strong>Jeweller</strong> India 8.60<br />
3 <strong>Jeweller</strong>s Network South Africa 6.00<br />
4 <strong>Jeweller</strong>y Business Canada 4.00<br />
5 Gold Book Magazine Turkey 4.00<br />
6 <strong>Jeweller</strong>y Net Asia Hong Kong 3.60<br />
7 Solitaire Magazine Singapore 3.00<br />
8 JCK USA 2.20<br />
9 <strong>Jeweller</strong>y Outlook UK 2.00<br />
10 The Jewelry Magazine India 2.00<br />
11 <strong>Jeweller</strong>y Focus UK 2.00<br />
12 Indian <strong>Jeweller</strong> India 2.00<br />
13 Canadian <strong>Jeweller</strong> Canada 2.00<br />
14 <strong>Jeweller</strong>y Monthly UK 2.00<br />
15 Instore Magazine USA 1.70<br />
16 Diamond World India 1.50<br />
17 National Jeweler USA 1.30<br />
18 Professional <strong>Jeweller</strong> UK 1.10<br />
19 Retail <strong>Jeweller</strong> Magazine UK 1.00<br />
20 Art of <strong>Jeweller</strong>y India 1.00<br />
21 <strong>Jeweller</strong>y World Australia 1.00<br />
22 The Retail Jeweler USA 1.00<br />
23 Preziosa Magazine Italy 1.00<br />
24 Bangkok Gems & <strong>Jeweller</strong>y Thailand 1.00<br />
25 Hong Kong <strong>Jeweller</strong>y Magazine Hong Kong 1.00<br />
26 The New <strong>Jeweller</strong> UAE / India 1.00<br />
27 Jewel Trendz India NO DATA<br />
28 Solitaire International Singapore NO DATA<br />
29 <strong>Jeweller</strong>y Time New Zealand NO DATA<br />
1 <strong>Jeweller</strong> Australia 21:50<br />
2 Retail <strong>Jeweller</strong> India 14:59<br />
3 <strong>Jeweller</strong>s Network South Africa 12.22<br />
4 <strong>Jeweller</strong>y Net Asia Hong Kong 02.60<br />
5 Art of <strong>Jeweller</strong>y India 02.49<br />
6 JCK USA 02.47<br />
7 Indian <strong>Jeweller</strong> India 02.47<br />
8 Gold Book Magazine Turkey 02.26<br />
9 <strong>Jeweller</strong>y World Australia 02.23<br />
10 Instore Magazine USA 02.12<br />
11 Diamond World India 02.03<br />
12 <strong>Jeweller</strong>y Outlook UK 01.53<br />
13 Solitaire Magazine Singapore 01.51<br />
14 National Jeweler USA 01.49<br />
15 <strong>Jeweller</strong>y Focus UK 01.32<br />
16 Professional <strong>Jeweller</strong> UK 01.28<br />
17 <strong>Jeweller</strong>y Business Canada 01.17<br />
18 The Jewelry Magazine India 01.05<br />
19 Retail <strong>Jeweller</strong> Magazine UK 00.60<br />
20 <strong>Jeweller</strong>y Monthly UK 00.34<br />
21 Jewel Trendz India NO DATA<br />
22 Solitaire International Singapore NO DATA<br />
23 Bangkok Gems & <strong>Jeweller</strong>y Thailand NO DATA<br />
24 The New <strong>Jeweller</strong> UAE / India NO DATA<br />
25 <strong>Jeweller</strong>y Time New Zealand NO DATA<br />
26 Canadian <strong>Jeweller</strong> Canada NO DATA<br />
27 The Retail Jeweler USA NO DATA<br />
28 Preziosa Magazine Italy NO DATA<br />
29 Hong Kong <strong>Jeweller</strong>y Magazine Hong Kong NO DATA<br />
2 <strong>Jeweller</strong> Australia 24.40%<br />
1 Retail <strong>Jeweller</strong> India 22.70%<br />
3 <strong>Jeweller</strong>y Net Asia Hong Kong 36.80%<br />
4 Retail <strong>Jeweller</strong> Magazine UK 45.50%<br />
5 <strong>Jeweller</strong>y Outlook UK 50.00%<br />
6 <strong>Jeweller</strong>y Business Canada 58.30%<br />
7 The Jewelry Magazine India 60.00%<br />
8 <strong>Jeweller</strong>y Focus UK 62.50%<br />
9 JCK USA 64.40%<br />
10 Art of <strong>Jeweller</strong>y India 69.20%<br />
11 Diamond World India 69.80%<br />
12 Professional <strong>Jeweller</strong> UK 72.20%<br />
13 Instore Magazine USA 72.70%<br />
14 <strong>Jeweller</strong>y World Australia 78.60%<br />
15 Indian <strong>Jeweller</strong> India 81.00%<br />
16 National Jeweler USA 82.30%<br />
17 Jewel Trendz India NO DATA<br />
18 <strong>Jeweller</strong>y Time New Zealand NO DATA<br />
19 Canadian <strong>Jeweller</strong> Canada NO DATA<br />
20 The Retail Jeweler USA NO DATA<br />
21 Preziosa Magazine Italy NO DATA<br />
22 Bangkok Gems & <strong>Jeweller</strong>y Thailand NO DATA<br />
23 Hong Kong <strong>Jeweller</strong>y Magazine Hong Kong NO DATA<br />
24 The New <strong>Jeweller</strong> UAE / India NO DATA<br />
25 <strong>Jeweller</strong>s Network South Africa NO DATA<br />
26 Gold Book Magazine Turkey NO DATA<br />
27 Solitaire Magazine Singapore NO DATA<br />
28 <strong>Jeweller</strong>y Monthly UK NO DATA<br />
29 Solitaire International Singapore NO DATA<br />
POSITION<br />
TRADING PLATFORM /<br />
PUBLICATION<br />
COUNTRY<br />
PAGE VIEWS<br />
POSITION<br />
TRADING PLATFORM /<br />
PUBLICATION<br />
COUNTRY<br />
DAILY TIME<br />
(IN MINUTES)<br />
POSITION<br />
TRADING PLATFORM /<br />
PUBLICATION<br />
COUNTRY<br />
BOUNCE<br />
RATE<br />
1 Idex* Israel 1.60<br />
2 Rapaport Magazine* USA 1.80<br />
1 Rapaport Magazine* USA 02:20<br />
2 Idex* Israel 02:06<br />
1 Rapaport Magazine* USA 54.60%<br />
2 Idex* Israel 63.70%<br />
All data collated as at 31 March <strong>2022</strong>
10 Years Ago<br />
Time Machine: <strong>October</strong> 2012<br />
A snapshot of the industry events making headlines this time 10 years ago in <strong>Jeweller</strong>.<br />
Historic Headlines<br />
4 Fragrance jewellery a new trend?<br />
4 <strong>Jeweller</strong>y designer makes Deloitte Fast 50<br />
4 World Diamond Mark initiative underway<br />
4 Thomas Sabo jewellery goes racing<br />
4 Watch merges NASA tech with the pharaohs<br />
STILL RELEVANT 10 YEARS ON<br />
Advertising the first to go<br />
Marketing is one of the more expensive<br />
costs for any jewellery store. When times<br />
are tough, as they have been for many, it’s<br />
also one of the first expenses that gets cut<br />
from the store’s budget.<br />
READ ALL HEADLINES IN FULL ON<br />
JEWELLERMAGAZINE.COM<br />
US jewellery gurus to visit<br />
Australian store owners<br />
Two US jewellery experts are set to visit<br />
Australia next year, each offering differing<br />
areas of expertise for independent store<br />
owners.<br />
Nationwide <strong>Jeweller</strong>s has secured high<br />
profile US sales expert Shane Decker to<br />
present at next year’s International <strong>Jeweller</strong>y<br />
Fair while David Geller will be the main<br />
speaker at the Nationwide annual conference.<br />
Decker was a hit at last year’s Sydney<br />
trade fair, where he presented his fourhour<br />
‘Diamond Sales Seminar.’<br />
Nationwide <strong>Jeweller</strong>s managing director<br />
Colin Pocklington said he had just concluded<br />
negotiations with Decker to attend the 2013<br />
Sydney fair after the success of his previous<br />
visit.<br />
Michael Hill prepares for tax fight<br />
Michael Hill International says it will shortly<br />
respond to the Australian Tax Office’s<br />
challenge to the valuation of intellectual<br />
property used by the company.<br />
The jewellery chain relocated to Australia in<br />
late 2008, transferring for $293 million the<br />
intellectual property of its Michael Hill <strong>Jeweller</strong><br />
System of Retailing from its Michael Hill & Co<br />
unit to its Australian subsidiary, Michael Hill<br />
Franchise.<br />
The Australian Tax Office (ATO) is disputing<br />
around $40 million of the $50.2 million deferred<br />
tax asset raised as a result of that transfer.<br />
Michael Hill is also in dispute with the New<br />
Zealand Inland Revenue Department (IRD) over<br />
$NZ17.9 million of tax deductions claimed as a<br />
result of the sale of assets within the group.<br />
<strong>October</strong> 2012<br />
ON THE COVER APM<br />
Editor’s Desk<br />
4If you don’t fight… “Suppliers are<br />
confronted by the same “disruptions”<br />
caused by the internet, meaning that<br />
their distribution policies need to be<br />
skewed to jewellery stores, rather than<br />
e-tailers, if they want physical retail to<br />
survive.<br />
If a recent news story about local<br />
companies refusing to deal with an<br />
internet retailer is any indication, major<br />
jewellery suppliers are doing their bit to<br />
ensure jewellery stores stay in the fight<br />
against those “pesky” online upstarts!<br />
Afterall ... if you don’t fight, you lose!”<br />
Soapbox<br />
4What happened to a fair go? “There is<br />
a double standard at the moment that<br />
is hurting the Australian retail industry.<br />
Everyone knows that life is tough right<br />
now for Australian retailers, right? So<br />
why does the Australian Government<br />
insist on continuing to make it tougher?<br />
There is a double standard at the<br />
moment that is hurting the Australian<br />
retail industry and it comes in the<br />
shape of the GST. More particularly,<br />
this double standard comes into<br />
effect in the shape of overseas, online<br />
retailers.”<br />
– Ian Winterburn, CEO Wallace Bishop<br />
76-carat flawless diamond<br />
to be auctioned<br />
A 76-carat diamond billed as being perfect<br />
in colour and internally flawless is expected<br />
to fetch more than $15 million when it is<br />
auctioned by Christies next month.<br />
Believed to be the finest and largest perfect<br />
Golconda diamond ever to appear at auction,<br />
the Archduke Joseph Diamond will be put up<br />
for auction for the first time since 1993, when<br />
it was sold for $6.5 million, the equivalent of<br />
$10.5 million today.<br />
Sourced from the Golconda mines in India,<br />
the diamond is named after one of its former<br />
Austrian owners, Archduke Joseph August<br />
Viktor Klemens Maria, and will be the highlight<br />
of the Christies sale in Geneva in November.<br />
Luxury jewellery brands<br />
embracing online<br />
An annual report has shown the world’s<br />
leading luxury jewellery brands are finally<br />
catching on to the importance of the digital<br />
world to their business.<br />
Still not great, but heading in the right direction.<br />
That is the message sent by a recent report<br />
into the digital presence of 47 of the world’s<br />
major jewellery and watch brands.The annual<br />
L2 Digital IQ Index: Watches and Jewelry report<br />
described the current digital landscape in the<br />
luxury watch and jewellery industry as “a perfect<br />
storm of e-commerce"<br />
It predicted that the combination of weak<br />
distribution channels coupled with robust<br />
industry growth and an acceptance of the<br />
internet as a legitimate retail platform by<br />
premium brands and their consumers could<br />
lead to a tectonic shift in the industry in the near<br />
future.<br />
34 | <strong>October</strong> <strong>2022</strong>
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Completing my diploma in<br />
Gemmology has benefited<br />
me as a jeweller in more<br />
ways than I ever expected.<br />
I have always had an interest<br />
in gemstones and found<br />
the course was not only<br />
informative and challenging<br />
but immensely rewarding.<br />
Studying with the GAA has also<br />
allowed me to meet like-minded<br />
people from many facets of the<br />
jewellery industry and grants me access<br />
to resources that I will continue to use<br />
throughout my professional career.<br />
Emma Meakes FGAA<br />
<strong>Jeweller</strong>, John Miller Design - WA<br />
Diploma in<br />
Gemmology<br />
Enrolments now open<br />
For more information<br />
1300 436 338<br />
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ADELAIDE BRISBANE HOBART MELBOURNE PERTH SYDNEY<br />
Passionately educating the industry, gem enthusiasts<br />
and consumers about gemstones
REVIEW<br />
Gems<br />
Garnets Part II: Grossular, Andradite, Uvarovite<br />
Above: Hemmerle;<br />
Andreoli; Glenn Spiro<br />
Below: Chanel; Moiseikin<br />
Compared with the well-known reddish<br />
browns and purplish red garnet varieties<br />
of pyrope, almandine, and spessartine, the<br />
second solid solution series producing gem<br />
quality garnets generally goes under the<br />
radar of your average jewellery customers.<br />
This series comprises three species –<br />
grossular (calcium aluminium silicate),<br />
uvarovite (calcium chromium silicate),<br />
and andradite (calcium ferric-iron<br />
silicate) – all of which can exist together<br />
in the one stone in varying amounts.<br />
Garnet varieties within this series that<br />
are better known to the trade and to avid<br />
jewellery fans include the vibrant green<br />
tsavorites and demantoids.<br />
Tsavorite garnets were first discovered<br />
in Tanzania, closely followed by localities<br />
found in Kenya. Hence, they were so<br />
named after the Tsavo National Park near<br />
the border of Kenya and Tanzania, by the<br />
deposit's founder geologist Campbell R.<br />
Bridges, in collaboration with Tiffany & Co.<br />
Among the localities following this same<br />
tsavorite-bearing geological formation<br />
discovered by Bridges is the Scorpion<br />
mine in south-eastern Kenya.<br />
This mine is famous for producing<br />
incredible gem-quality tsavorite ideal<br />
for the jewellery industry, as well<br />
as beautifully formed gem-quality<br />
crystals valued by mineral specimen<br />
connoisseurs.<br />
Tsavorite is a variety of grossular garnet,<br />
coloured a striking green by the presence<br />
of chromium, vanadium, and even iron as<br />
trace elements. Gem quality stones are<br />
appreciated for their rarity and are highly<br />
valued by collectors.<br />
Although both are a vivid, eye-catching<br />
green, tsavorite is not to be confused with<br />
the andradite variety of demantoid garnet.<br />
Popular and captivating, demantoid<br />
garnets are valued not only for their<br />
colour, but also their dispersion.<br />
This notably strong quality produces an<br />
impressive fire capable of rivalling even<br />
diamond - hence the name demantoid,<br />
meaning ‘diamond-like’.<br />
The variations of green seen in demantoid<br />
vary according to locality. A secondary<br />
colour is often present, such as yellow,<br />
brown, or rarely blue. Although it may<br />
be the result of a few possible factors,<br />
their colour is often due to chromium<br />
occurring as a trace element or iron.<br />
The first discovery of demantoid, and<br />
the most famous of localities, was in the<br />
Ural Mountains of Russia. Specimens<br />
from Russia are treasured for their gem<br />
quality, fantastic colours, and the quality<br />
of the intriguing fibrous asbestos<br />
inclusion termed ‘horsetail’.<br />
Once thought to be an inclusion exclusive<br />
to demantoid, horsetails have since<br />
been found in other andradite garnets<br />
that are completely absent of any green<br />
hue, and that therefore do not qualify as<br />
demantoid variety.<br />
The inclusion is indicative of the<br />
serpentinite geological setting in which<br />
these gems form.<br />
Though Russia is the most famous locality,<br />
demantoid garnets have been found in Italy,<br />
Iran, Namibia, Madagascar, and Mexico.<br />
Other varieties of andradite garnet<br />
include melanite (black) and topazolite<br />
Colour: Green, yellow,<br />
brown, orange, black<br />
Found in: Russia, Kenya,<br />
Tanzania, Italy, Namibia,<br />
Madagascar, Mexico, Mali<br />
Mohs Hardness: 6.5-7.5<br />
Lustre: Vitreous<br />
Formula: General formula<br />
for garnet: A ³<br />
B ²<br />
C ³<br />
O ¹²<br />
Grossular: Ca ³<br />
Al ²<br />
Si ³<br />
O ¹²<br />
Andradite: Ca ³<br />
Fe ²<br />
Si ³<br />
O ¹²<br />
Uvarovite: Ca ³<br />
Cr ²<br />
Si ³<br />
O ¹²<br />
(yellowish-brown).<br />
Sharing the same species as tsavorite,<br />
hessonite is another variety of grossular<br />
garnet.<br />
This yellowish-brown to reddish-orange<br />
gem is a lesser-known material,<br />
with large and high-quality pieces<br />
commanding higher prices.<br />
Other notable varieties include grossular<br />
garnets rich in chromium as a trace<br />
element, with a colour-shift from yellowgreen<br />
in daylight to orange-brown in<br />
incandescent light from Ethiopia, and the<br />
grossular-andradite garnets of greens,<br />
brownish, and yellowish colours known in<br />
the trade as Mali garnets.<br />
Mali garnets have been gaining more<br />
popularity in recent years, desired for their<br />
attractive colours and high dispersion.<br />
The country of Mali in West Africa, after<br />
which they are named, remains the only<br />
known source of these gems.<br />
With a growing appreciation in the trade<br />
for gemstones of vibrant colour and<br />
optical performance, garnets are among<br />
the previously disregarded gems that are<br />
now enjoying more of the spotlight in the<br />
boutiques of jewellery ateliers.<br />
Mikaelah Egan FGAA Dip DT<br />
began her career in the industry at<br />
Diamonds of Distinction in 2015. She now<br />
balances her role at the Gemmological<br />
Association of Australia with studying<br />
geology at the University of Queensland.<br />
Visit instagram.com/mikaelah.egan<br />
For more information on gems and<br />
gemmology, go to www.gem.org.au<br />
<strong>October</strong> <strong>2022</strong> | 37
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FEATURE<br />
Local Brands<br />
AUSTRALIAN BRANDS<br />
STRENGTHEN THE MARKET<br />
L to R: Opal Minded; Autore Pearls;<br />
Ellendale Diamonds; Sapphire Dreams; Gerrim<br />
SAMUEL ORD examines the unique appeal of Australian jewellery brands<br />
and highlights the importance of supporting local creators.<br />
The international COVID pandemic disrupted<br />
the Australian consumers and suppliers for<br />
more than two years in an increasingly<br />
globalised jewellery trade.<br />
With the closure of international borders causing seemingly<br />
endless supply chain headaches for retailers, along with the<br />
subsequent impact of inflation, there was one positive to be<br />
found for many Australian based manufacturing and brands.<br />
With limited access to international inventory the opportunity<br />
arose for home-grown brands to be placed under a brighter,<br />
less competitive spotlight. Better still, according to a recent<br />
study from market research firm Roy Morgan, an increased<br />
focus on Australian brands is exactly the kind of market local<br />
consumers hope to see.<br />
The findings of the examination into Australian consumer<br />
habits released in July this year revealed that Australians<br />
are now less likely to purchase international brands –<br />
particularly those originating from China – than they were<br />
prior to the pandemic.<br />
“The latest Roy Morgan research into preference for<br />
Australian-made goods showed that a high 96 per cent of<br />
Australians in March <strong>2022</strong> say they would be more likely to<br />
buy a product if they knew it was ‘Made in Australia’ – up<br />
9 per cent points from early in 2020,” the report states.<br />
With most of <strong>2022</strong> now in the rear-view mirror, the question<br />
now is have these Australian brands been able to preserve<br />
that connection with local consumers?<br />
Identity and trust<br />
Gerri Maunder believes that the Australian identity is<br />
uniquely woven into her ethos, which is to offer customers<br />
fine jewellery worthy of becoming a family heirloom.<br />
Based in Queensland and armed with more than 25 years of<br />
experience in jewellery design and manufacturing, Gerrim<br />
International has evolved into a brand that pursues elegance<br />
and style with each piece.<br />
Co-director Maunder explains “COVID forced all businesses<br />
to re-think how they operate.”<br />
Steve Der Bedrossian<br />
Sams Group Australia<br />
“Sapphire Dreams is the<br />
first of its kind and the only<br />
Australian jewellery brand<br />
that celebrates Australian<br />
sapphires and their<br />
breathtaking colour range,<br />
which is unlike anywhere<br />
else in the world.”<br />
Gersande Price<br />
Ellendale Diamonds Australia<br />
"The pandemic, having<br />
clipped the wings of us<br />
all to be able to travel and<br />
source worldwide with ease,<br />
we believe has benefited<br />
homegrown Australian<br />
brands, tremendously."<br />
Rosario Autore<br />
Autore Pearls<br />
“As the second largest<br />
producer and quota holder in<br />
Australia, I can confidently say<br />
Australian South Sea pearls<br />
are widely recognised on the<br />
international market as the<br />
most valuable in the world.”<br />
“Our mantra has always been that if a product we offer is<br />
made and manufactured in Australia, we will be able to<br />
deliver that product to a retailer in 7–10 business days.<br />
We’ve always said that, and we’re proud of that part of<br />
our business.”<br />
She continues: “Suppliers are, essentially, solution-based<br />
businesses. Retailers need stock – and they want the<br />
supplier to offer a solution – to provide the stock and deliver<br />
it on time. It doesn’t have to be any more complicated<br />
than that. We also understand that the jeweller is in turn<br />
attempting to offer a solution to their customer.”<br />
Georgini is another Australian jewellery brand that launched<br />
in 2004 with the aim of combining modern elegance with<br />
innovative fashion-forward design.<br />
Managing director Melinda Carey echoes Maunder’s<br />
sentiment and stresses the importance of mutual trust<br />
between suppliers and retailers and says brands that<br />
focus on capturing the hearts and minds of local consumers<br />
possess a unique advantage exiting the pandemic.<br />
“One of the great movements we saw throughout the<br />
pandemic was the swing to shop local and support local<br />
brands,” Carey tells <strong>Jeweller</strong>.<br />
“With slow consumerism on the rise, buyers are making<br />
conscious and considered choices and choosing brands that<br />
have authenticity and story and are home-grown. This is<br />
wonderful for the Australian jewellery industry.”<br />
Local diamonds and gemstones<br />
Aside from being a unique and naturally rich country,<br />
Australia not only boasts beautiful beaches, diverse wildlife,<br />
and the iconic outback. It is also the point of origin for some<br />
of the most prized and rare gemstones in the world.<br />
And of course, Australia’s pink diamonds lead the world<br />
in rarity. That said the raw material is the starting point,<br />
however; what consumers want is products and brands.<br />
Ellendale Diamonds Australia is one such business that has<br />
helped elevate Argyle pink diamonds to an internationally<br />
recognised, and unique, product.<br />
Sales and marketing manager Gersande Price is another
Local Brands | FEATURE<br />
L to R: Opal Minded; Autore Pearls<br />
who believes that the pandemic made people re-think their lives. She<br />
says that offering consumers transparency at every step - from the<br />
mine to Ellendale Diamonds, to the retailer and to the eventual buyer,<br />
is critical.<br />
“The pandemic, having clipped the wings of us all to be able to travel<br />
and source worldwide with ease, we believe has benefited homegrown<br />
Australian brands tremendously,” she explains.<br />
“As consumers we have looked to what is available within our own<br />
backyard, it has given us a sense of we are in this together and<br />
should support our own brands and businesses. We have been given<br />
a glimpse of how precious life is and therefore, how important it is to<br />
seize the moment.”<br />
Price also believes that the “consumer more than ever is ethically<br />
and socially aware and wants reassurance that the pieces they are<br />
purchasing have a transparent, ethical supply chain. We champion<br />
this transparency.”<br />
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Based in Sydney, SAMS Group Australia has a proud and long family<br />
connection with the Australian jewellery industry with brands such as<br />
Classique and Pink Kimberley.<br />
The company launched a new range of branded Australian jewellery -<br />
Sapphire Dreams – in September 2021.<br />
Steve der Bedrossian, CEO told <strong>Jeweller</strong>, “I love Australian products,<br />
and I always try to use unique materials that are sourced in Australia.<br />
The colours of Australian sapphires are amazing, and there was no<br />
brand around Australian sapphires, so I realised that it was something<br />
that I could create.<br />
“Sapphire Dreams is the first of its kind and the only Australian jewellery<br />
brand that celebrates Australian sapphires and their breathtaking colour<br />
range, which is unlike anywhere else in the world.”<br />
Pearls<br />
No discussion of Australian jewellery brands would be complete without<br />
acknowledging the wide variety on offer when it comes to pearls.<br />
Autore Pearls operates 10 South Sea pearl farms, located in Australia<br />
and Indonesia, and is headquartered in Sydney. Each year more than<br />
350,000 pearls are harvested by Autore Pearls, spearheaded by the<br />
man who founded the company in 1991 – Rosario Autore.<br />
Autore is another who believes that the pandemic gave local brands<br />
the opportunity to deepen a connection with the Australian market.<br />
“As the second largest producer and quota holder in Australia, I can<br />
confidently say Australian South Sea pearls are widely recognised on<br />
the international market as the best and most valuable in the world,”<br />
Autore says.<br />
“During the pandemic, tourism to Australia was completely blocked,<br />
creating difficulties from a retail perspective for the pearl industry.”<br />
He continues: “Tourists would usually come and buy the beautiful
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L to R: Ikecho Australia; Allure South Sea Pearls<br />
Australia pearls; however the industry lost these clients due to<br />
the border closures. On the other hand, the Australian public was<br />
not travelling overseas, so they were spending more on Australian<br />
products and supporting local businesses including the South Sea<br />
pearl industry.”<br />
Operating from Sydney, Ikecho is another Australian brand driven by<br />
family background, with managing director Erica Miller leading a team<br />
that offers an extensive range of South Sea Tahitian, Akoya, mabe and<br />
Chinese freshwater pearls – available in strands or in sterling silver<br />
and gold pieces.<br />
Ikecho recently began offering jewellery pairing Australian pearls with<br />
opals – a prospect that proved particularly popular with buyers at the<br />
International <strong>Jeweller</strong>y Fair in August.<br />
Another pearl producer is Perth-based Atlas Pearls. The company<br />
harvests more than 550,000 pearls each year from seven farms<br />
located in Indonesia, with white and silver South Sea pearls becoming<br />
some of the world’s most sought.<br />
The company aims to produce the valued South Sea pearls – and its<br />
jewellery designs - through ethical, sustainable, and non-extractive<br />
processes with each pearl certified to reflect the standards it was<br />
produced within.<br />
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While international products are so readily available, are Australianmade<br />
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• Made to Australian standards: Australia requires businesses<br />
to meet some of the world’s strictest business and quality control<br />
standards.<br />
When you buy Australian-made products, there’s a greater chance<br />
you’re contributing to a business that provides well-crafted toptier<br />
goods, treats and pays its workers fairly, and uses high-quality<br />
resources and materials.<br />
• Personalised customer service: Geographical proximity improves<br />
the level of customer service available between Australian suppliers<br />
and retailers for a range of reasons. It often evolves as a result of<br />
long-term connection between suppliers and retailers – a long-term<br />
connection made easier when a business is family.<br />
• Warranty support: Under Australian Consumer Law, when you<br />
purchase any product or service, they come with an automatic<br />
guarantee that they will work and do what you asked for. Furthermore,<br />
many Australian companies also offer further warranties and<br />
guarantees on their products.<br />
• Local knowledge: Understanding local market conditions and the<br />
history behind Australian consumer connection to jewellery is another<br />
major potential benefit offered by domestic suppliers.<br />
And it is on the final point that Australian brands believe they have an<br />
36<br />
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Local Brands | FEATURE<br />
advantage. Price says local suppliers are able to offer local<br />
insight and knowledge that international companies can’t<br />
match.<br />
“Sourcing from local brands is of great advantage to<br />
retailers on both the local and international stages.<br />
Having a local point of contact offers so many pluses.<br />
For example, at Ellendale Diamonds Australia, local<br />
retailers can view our inventory prior to selection, including<br />
in-store viewing with our friendly and experienced team,”<br />
she explains.<br />
Unlike other industries, the international jewellery sector<br />
still maintains businesses with a long family history – often<br />
over generations – with a legacy to protect. It’s also true<br />
for retailers; Australia can demonstrate jewellery stores<br />
still in the hands of the family over many decades.<br />
And when coupled with suppliers that began business as<br />
local manufacturers supplying to local retailers, it adds<br />
to the home-grown feeling of both businesses supporting<br />
each other. This fact was endlessly demonstrated<br />
throughout the pandemic where consumers went out<br />
their way to support local manufacturers, often knowingly<br />
paying a higher price.<br />
Being an Australian company became a distinct advantage.<br />
For example, Paterson Fine <strong>Jeweller</strong>y boasts a proud<br />
history having been founded in 1935 by Keith Paterson. The<br />
Gerri Maunder<br />
Gerrim<br />
"Suppliers are, essentially,<br />
solution-based businesses.<br />
Retailers need stock – and<br />
they want the supplier to offer<br />
a solution – to provide the<br />
stock and deliver it on time. It<br />
doesn’t have to be any more<br />
complicated than that."<br />
Melinda Carey<br />
Georgini<br />
"When brands have that<br />
‘you need us more than we<br />
need you mentality’, it's never<br />
great. We have seen this<br />
countless times in the last<br />
couple of years. Australian<br />
brands are not like that!"<br />
company is rapidly approaching the 100-year mark and is<br />
currently under the leadership of managing director David<br />
Paterson – grandson of the founder.<br />
Another business with a long history is Palloys, established<br />
in 1951. When it comes to supplier guarantees it’s<br />
difficult to look past the ‘Palloys Promise’ as an industry<br />
benchmark – which is a pledge to use 100 per cent<br />
Australian refined and internationally accredited precious<br />
metals with a price-beat guarantee.<br />
One jewellery business that highlights the significance of<br />
quality local manufacturing is Mark McAskill <strong>Jeweller</strong>y.<br />
Based in South Australia, it offers jewellers everything<br />
from bespoke design to large production runs and aims<br />
to provide quick local supply.<br />
Georgini’s Carey agrees with Price and says that local<br />
supply and quality customer service can’t be overlooked.<br />
She points to the importance of holding stock for the<br />
customer, avoiding six month ordering lead times: “Ease<br />
of stock supply and access to excellent staff are the most<br />
significant advantages to purchasing locally,” she tells<br />
<strong>Jeweller</strong>.<br />
“When brands have that ‘you need us more than we<br />
need you mentality’, it's never great. We have seen this<br />
countless times in the last couple of years. Australian<br />
brands are not like that! We want all parties to succeed<br />
The<br />
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and benefit from a brand's success.”<br />
Alignment<br />
The good news for retailers choosing to stock Australian<br />
jewellery brands is that their choices continue to align with<br />
the latest consumer preferences and trends.<br />
A 2021 study completed by market analysts Freshworks titled<br />
'The Post COVID-19 Consumer' offered interesting results. In a<br />
bid to understand the lasting impacts of the COVID-19 pandemic<br />
on consumer behaviour, the company surveyed 1,000 Australians<br />
and compared their responses to 10,500 consumers globally.<br />
The overwhelming majority – 97 per cent - of those that shifted<br />
to shopping locally, reported that they are seeking to maintain<br />
this behaviour.<br />
Freshworks Australia general manager Sreelesh Pillai says<br />
“Australians have always sought to support local, however;<br />
we've seen the pandemic further entrench this behaviour.<br />
OE011-SS<br />
OP012-SS<br />
“During the pandemic, tourism to Australia was<br />
completely blocked, creating difficulties from a retail<br />
perspective for the pearl industry."<br />
- ROSARIO AUTORE -<br />
IP6524P<br />
IP6524E<br />
"This stands alongside an “all in this together” attitude, where<br />
we're seeing consumers support businesses that have perhaps<br />
struggled in the past 12 months.<br />
"As expected, online shopping has become more popular but<br />
not to the extent that we've witnessed in other markets, again<br />
this highlights the Australian preference for supporting smaller,<br />
local retailers."<br />
Pillai adds, “For retailers looking to win the hearts and minds<br />
of Australian consumers, the message is simple: offer an<br />
experience that is personalised and meets their needs while<br />
treating your own staff well. Australians want to do business<br />
with brands that support the local community and are inherently<br />
seen as decent.”<br />
It’s foolish to deny that international suppliers don’t also have<br />
their fair share of benefits to offer and as the restrictions<br />
surrounding the pandemic are erased, consumer interest in<br />
products originating from outside the country will likely persist.<br />
IP83-BANGLE-YGP<br />
However with the most important trading period around the<br />
corner, jewellery retailers should consider the benefits of<br />
highlighting Australian brands in their product mix – for many,<br />
there are too many advantages on offer to overlook.<br />
Luxury Pearl and Opal <strong>Jeweller</strong>y<br />
+61 2 9266 0636<br />
enquiries@ikecho.com.au<br />
www.ikecho.com.au
Info@LJWestDiamonds.com | www.LJWestDiamonds.com | www.ScottWestDiamonds.com
To schedule an appointment, please contact us:<br />
L. J. WEST DIAMONDS INC. | 589 5th Ave, Suite 1102 | New York, NY 10017, U.S.A. | T +1 212 997 0940<br />
L. J. WEST AU PTY LTD | Level 9, 225 St Georges Terrace | Perth, WA 6000, Australia | T +61 40 997 6981
DIAMOND FEATURE<br />
Understanding Uncertainty<br />
UNDERSTANDING<br />
Gal Gadot for Tiffany & Co. Inset: Harry Winston pendants.<br />
UNCERTAINTY<br />
<strong>2022</strong> has been another year of remarkable uncertainty<br />
for the international diamond industry. SAMUEL ORD<br />
explores some of the more significant international trends.
Ellendale Diamonds<br />
De Beers<br />
As retailers bravely march towards the<br />
most significant sales period of the year<br />
– December – it’s important not only to<br />
prepare for the future but also to reflect on how<br />
significant of year <strong>2022</strong> has been for the world of<br />
white diamonds and diamond jewellery.<br />
Of course everything changed in 2020 – the COVID<br />
pandemic stopped international travel and trade suffered<br />
dramatically as a result.<br />
As industry analyst Chaim Even Zohar explains “Twentytwenty<br />
always had a nice ring to it, and in the run-up to it,<br />
many entities, both companies and international bodies<br />
drew up their vision statements. However, 2020 turned<br />
out to be quite the contrary and will be remembered for a<br />
long time for all the wrong reasons.”<br />
Then 2021 was the year the jewellery industry prayed would<br />
bring about a reversal of all that unfolded in the preceding<br />
year. For many Australians, restrictions remained in place –<br />
however internationally, the diamond sector rebounded.<br />
“The entire industry not only saw a surge in sales after the<br />
COVID outbreak in 2020, but also experienced one of its most<br />
profitable years, something for which it had been yearning.<br />
2021 helped the industry ‘right-size’ its inventories and bring<br />
the overall business model back in line with what it should<br />
be,” writes industry expert Pranay Narvekar.<br />
<strong>2022</strong> came around, the new year presented itself as an<br />
opportunity to return to normality and in the opening<br />
months all early signs were cautiously optimistic –<br />
until February. Russia invaded Ukraine, prompting<br />
governmental and corporate powers to take action,<br />
levying sanctions against the country responsible for<br />
more than one third of the world’s supply of rough.<br />
Now, with three quarters of <strong>2022</strong> passed, diamond<br />
market sentiment remains as mixed as could be.<br />
Edahn Golan, an industry analyst with more than two<br />
decades experience studying the market, echoed this<br />
sentiment – particularly in relation to jewellery demand<br />
within the US.<br />
“<strong>Jeweller</strong>y sales boasted an impressive performance in<br />
the first half of <strong>2022</strong>. Sales rose nearly across the board<br />
– a particularly impressive act against the excellent<br />
performance of 2021,” Golan says.<br />
“However, as the months went by, sales deteriorated until<br />
they fell behind in June.<br />
“The average retail price per unit fluctuated during the<br />
six-month period, and yet, stayed at a double-digit rise<br />
compared to the previous year. There is only one explanation<br />
STATISTICS<br />
Diamonds in Data<br />
4<br />
Number of<br />
countries within<br />
which De Beers<br />
mines for diamonds<br />
$630m<br />
De Beers rough sales<br />
in the seventh cycle<br />
of this year<br />
66%<br />
Alrosa's stateownership<br />
by Russia,<br />
Yakutia and the<br />
Yakut regions<br />
109.9<br />
The weight in<br />
carats of the Alrosa<br />
Spectactle, the<br />
biggest diamond<br />
ever cut in Russia<br />
$250m<br />
Alrosa's estimated<br />
each month in <strong>2022</strong><br />
105.6<br />
The weight in carats<br />
of the Koh-i-Noor<br />
which sits in the<br />
Imperial State Crown<br />
for this: A sizeable chunk of American consumers are<br />
continuing to display a healthy appetite for jewellery, with<br />
a specific craving for higher-end goods.”<br />
Global diamond production recovered in 2021 following<br />
the impact of the international pandemic, however,<br />
according to Golan the revival didn’t reverse the long<br />
term trend of production slowly declining.<br />
“<strong>Jeweller</strong>y sales boasted an impressive<br />
performance in the first half of <strong>2022</strong>. Sales rose<br />
nearly across the board – a particularly impressive<br />
act against the excellent performance of 2021.”<br />
- EDAHN GOLAN -<br />
“The repeated - and often delayed - forecast that production<br />
will fall and consumer demand will rise is starting to<br />
materialize. But will demand continue to grow?” asks Golan.<br />
“That is really in the hands of the diamond industry<br />
and its efforts to market diamonds to a generation of<br />
consumers that has concerns about the environment.<br />
He added “The average value of rough diamonds<br />
exported by producers was up to a record high against<br />
rising demand and energy costs. But is it sustainable?<br />
With a decline in polished diamond prices, producers<br />
may be forced to reduce prices.”<br />
Conflicting forces<br />
In order to get an accurate read on a complex situation,<br />
it’s often recommended that one goes back to the basics.<br />
Martin Rapaport – chairman of the Rapaport Group – says<br />
that the key to understanding the confusion and uncertainty<br />
of the international diamond industry is to grasp the role<br />
played by contrasting and conflicting powers.<br />
“We are going through a period of unprecedented changes<br />
and it can be very confusing and difficult to understand.<br />
While we travel through this period of unprecedented<br />
uncertainty, you might want to take the time to think about<br />
what it is we do know,” he explains.<br />
“We have data that tells us that there is a certain number of<br />
diamond mines and diamond factories on the supply side.<br />
On the demand side, there are a certain number of stores,<br />
a certain number of consumers and each year, there’s a<br />
certain number of marriages – we have these facts.<br />
He continues: “We must remember that it is not supply that<br />
sets prices. Demand is what sets prices.”<br />
Tighter supply of rough diamonds has traditionally led to<br />
higher prices – an outcome some experts foreshadowed<br />
<strong>October</strong> <strong>2022</strong> | 51
Understanding Uncertainty| DIAMOND FEATURE<br />
Vrai<br />
Suzanne Kalan<br />
Lark & Berry<br />
as a result of Russia’s exclusion from a significant portion<br />
of the international market. However, at the same time<br />
as sanctions have been installed against Russia, the<br />
economies of the US, Australia and other western nations<br />
have been weakened for a range of reasons - perhaps the<br />
most prominent of all being inflation stemming from the<br />
stimulus measures which kept consumers active during the<br />
lockdowns of 2021.<br />
Inflationary pressure leads to a decrease in consumer desire<br />
to spend on luxury items such as diamond jewellery, and as<br />
demand falls, so do prices – which when combined with the<br />
tension of supply shortages, leads to a contradictory and<br />
difficult to read market.<br />
“Tighter rough supply implies higher prices, however,<br />
weaker demand for polished diamonds leads to lower<br />
prices. There’s a conflict here and that’s the reason why<br />
things seem so confusing right now,” Rapaport says.<br />
“Prices are set during an interaction between supply and<br />
demand and we must remember it’s mostly demand that<br />
sets price.”<br />
Bifurcation<br />
Bifurcation became a hot topic in the diamond industry<br />
during <strong>2022</strong>. Never heard of the word?<br />
Birfurcation is the separation of one entity into two distinct<br />
segments, and in terms of economics, this traditionally<br />
involves definitions of high and low value, which is why it<br />
started to become a talking point among diamond experts.<br />
Market bifurcation occurs when disjointed market<br />
movements move in opposite directions, or when high<br />
and low quality securities move out of sync, causing the<br />
two segments to operate and perform independently<br />
within the market.<br />
One example of birfucation is US clothing retailer GAP<br />
announcing that the Old Navy brand would be separated<br />
from stores and sold independently. At the time, GAP<br />
executives said the move would allow Old Navy to expand<br />
under a separate individualised business strategy.<br />
Other examples to consider are luxury and economy<br />
brands of cars; think Toyota with Lexus and Hyundai<br />
with Genesis.<br />
A number of voices in the diamond industry are<br />
predicting significant bifurcation within the market –<br />
for a range of reasons.<br />
Talking Heads<br />
Martin Rapaport<br />
Rapaport Group<br />
"We need to get used to<br />
the fact that things work in<br />
cycles and that we are now<br />
involved in a far greater<br />
economic system which<br />
involves factors such as<br />
inflation, interest rates,<br />
levels of disposal incomes<br />
and the wealth effect."<br />
Paul Zimnisky<br />
PZ Diamond Analytics<br />
"However, if we have a holiday<br />
season that is anywhere<br />
near par with that of last<br />
year, I think the industry will<br />
run into natural diamond<br />
shortages as the industry<br />
restocks in early 2023."<br />
Edahn Golan<br />
Diamond Research & Data<br />
“A sizeable chunk of American<br />
consumers are continuing<br />
to display a healthy appetite<br />
for jewellery, with a specific<br />
craving for higher-end goods."<br />
One of those voices is analyst Paul Zimnisky, who recently<br />
espoused the view that in five years time the market will be<br />
significantly separated, specifically from a retail perspective.<br />
“In general, I think natural diamond prices will be higher<br />
and I think lab-created diamond prices will be lower by<br />
the time we reach 2027,” Zimnisky says.<br />
“I think the differentiation between the two products will be<br />
more apparent in the eyes of consumers five years from now.<br />
“Speaking of natural diamonds more specifically, I think<br />
most medium and larger stones will be sold with a<br />
certificate of origin, and the supply chain will be<br />
bifurcated between Russian and non-Russian goods.”<br />
Internal<br />
Rapaport forecasts a similar level of separation for<br />
consumers. Cheaper and common diamond products are<br />
susceptible to change based on economic forces such as<br />
inflation and strong or weak consumer confidence, while at<br />
the luxury level, these pressures are less impactful.<br />
“Inexpensive diamonds will be very sensitive to price<br />
increases. Then you’ll see the bigger diamonds, where<br />
people just don’t care about the prices,” he explains.<br />
“If the prices increase, they’re going to want to buy more<br />
of them in an inflationary environment. So we’re looking<br />
at interesting market scenarios here. We’re looking at<br />
changes. We’re looking at a bifurcation or separation of<br />
markets.”<br />
External<br />
With Russia excluded from the international landscape,<br />
Chaim Even Zohar warned of a divided market in IDEX’s<br />
report, Lamenting the natural diamond producers’<br />
missed income.<br />
“It is clear that for the diamond industry, sanctions are here<br />
to stay and the industry needs to be ready for the long haul,<br />
and choose which side to take. The sanctions will probably<br />
continue even after the conflict stops,” he explains.<br />
“In the event that the industry transitions into a multi-polar<br />
environment, companies clearly need to take sides, having<br />
to scale down their business in order for them to continue<br />
being compliant.<br />
“With the current regulations in place, the industry is likely<br />
to be split down the middle, with some companies abiding<br />
by the sanctions and other companies dealing in Russian<br />
52 | <strong>October</strong> <strong>2022</strong>
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diamonds, but not supplying them to the developed world.”<br />
Russian rebound<br />
Many were quick to question the effectiveness of economic<br />
sanctions placed against mining juggernaut Alrosa following<br />
the Ukraine invasion.<br />
Rapaport has been one vocal sceptic.<br />
“Fundamentally, the sanctions on the Russian diamond industry as<br />
legally applied by governments are nonsense,” he says.<br />
“It’s a form of government greenwashing, if you will – they’re saying<br />
‘look at us, we’re doing something – but they’re not doing anything.”<br />
He clarifies: “Russian diamonds and Russian rough will simply<br />
head to countries like China that are not imposing sanctions. The<br />
governments have left a huge loophole in place [the definition of<br />
transformed diamonds] regarding diamonds and while they make a<br />
lot of noise, it’s all nonsense.”<br />
Recent reports that Russian rough diamond sales remain healthy<br />
would seem to vindicate the sceptics.<br />
Despite these sanctions remaining in place, Bloomberg News revealed in<br />
August that Alrosa’s rough diamonds sales each month continues to be<br />
around $US250 million.<br />
Comparatively, in January of this year - prior to the invasion - its sales<br />
were approximately $US325 million a fact that was addressed by a<br />
further report in September titled ‘Russia’s Secret Gem Sales Are<br />
Dividing the Diamond World’.<br />
“The secretive sale of Russian diamonds, worth hundreds of millions of<br />
dollars every month, is fracturing the global trade that stretches from<br />
cutting factories in Mumbai to luxury stores on New York’s Fifth Avenue,”<br />
the report states.<br />
“Many in the industry refuse to deal in Russian gems following the<br />
invasion of Ukraine and after mining giant Alrosa PJSC was hit with US<br />
sanctions. But there’s a handful of Indian and Belgian buyers who are<br />
snapping up large volumes at lucrative terms, getting to pick and choose<br />
the diamonds they need while others stay away.<br />
“The deals are happening quietly, even for the famously secretive<br />
diamond world.”<br />
Russian rebound<br />
Zimnisky was another early sceptic of the impact sanctions would have<br />
on Russian trade, suggesting that changes to the landscape may open<br />
the door to new threats.<br />
“I think eventually Russian natural diamond supply will find a home,<br />
whether it be in China or the Middle East for example,” he told <strong>Jeweller</strong><br />
in July.<br />
Become a stockist today<br />
02 9290 2199
Understanding Uncertainty| DIAMOND FEATURE<br />
L to R: Natural diamond roughs; Lab grown diamond rough<br />
Courbet<br />
“[In the meantime] Lab-created diamond supply will<br />
continue to increase as new players keep entering the<br />
space and as existing producers ramp up production<br />
capacity and relative yields.”<br />
Revisiting the issue in September, Zimnisky says retail<br />
performance during the holiday season will understandably<br />
have an enormous impact on how 2023 unfolds.<br />
“I think that current circumstances could benefit non-Russian<br />
producers simply given the supply and demand balance. For<br />
example, the ‘West’ represents around 75 per cent of global<br />
end-consumer diamond demand, but only 65-70 per cent of<br />
global diamond supply comes from non-Russian sources.<br />
“Given the global macro-economic conditions and China’s<br />
zero-COVID policy, demand and sentiment in the industry has<br />
cooled in recent months, which has taken some pressure<br />
off of the supply situation. However, if we have a holiday<br />
season that is anywhere on par with that of last year, I think<br />
the industry will run into natural diamond shortages as the<br />
industry restocks in early 2023.”<br />
Brighter outlook<br />
Edahn Golan explored the battle between natural<br />
diamonds and lab-created diamonds in his report Lab<br />
Grown: All Fears Materialised.<br />
“The diamond industry as a whole, natural and lab grown,<br />
has a lot on its plate,” he said.<br />
“Both have financial issues to resolve, both need to<br />
improve their relevance in the eyes of consumers, and both<br />
need to ensure they are acting ethically and sustainably.<br />
“No one side can claim sainthood and simply point<br />
blamingly at the other.<br />
“The good news is the growing competition between the<br />
two is also forcing them to up their game. In that regard,<br />
this is a very welcome outcome.”<br />
One crucial battleground between the two products<br />
continues to be marketing.<br />
Lab-created diamond manufacturers were quick to begin<br />
selling the product under the mantle of ‘environmentally<br />
sustainable’ – regardless of whether or not their claims<br />
were accurate or truthful. Experts are urging natural<br />
diamond companies to begin marketing diamonds and<br />
diamond jewellery under a new unique narrative.<br />
“Over the last few decades I think the natural diamond<br />
industry lost its way by allowing its product to sell at lessthan-premium<br />
price points,” says Zimnisky.<br />
“Diamonds arguably fall into the category of a ‘Veblen<br />
good’, meaning the higher the price the more desired they<br />
become. Natural diamonds should be marketed as the<br />
highest-end luxury item you can buy, and higher prices<br />
Talking Heads<br />
Chaim Even Zohar<br />
IDEX Online<br />
"Twenty-twenty always<br />
had a nice ring to it, and<br />
in the run-up to it, many<br />
entities, both companies<br />
andinternational bodies<br />
drew up their vision<br />
statements. However,<br />
2020 turned out to be<br />
quite the contrary and<br />
will be remembered for<br />
a long time for all the<br />
wrong reasons."<br />
David Kellie<br />
Natural Diamond Council<br />
"The industry is not<br />
yet stepping up and<br />
recongising that we<br />
cannot be a successful<br />
industry in a luxury<br />
market without more<br />
aggressive support<br />
behind diamond<br />
category marketing."<br />
Pranay Narvekar<br />
IDEX Online<br />
“2021 helped the<br />
industry 'right-size' its<br />
inventories and bring<br />
the overall business<br />
model back in line with<br />
what it should be."<br />
support this perception.”<br />
Golan says that the lab-created diamond industry will need<br />
to adopt similar tactics if it is to survive.<br />
“Lab grown is very much sold as the ‘other diamond,’ often<br />
using negative context. A marketing program based on<br />
the - real or not - shortcomings of the original product is<br />
unsustainable,” he says.<br />
“To succeed, lab grown needs to develop its own distinctive<br />
story. It’s not ‘forever’ or a creation of nature. And to be<br />
honest, ‘sustainable’ is not only a negative reference to the<br />
competing product, but it will also hopefully be a given in<br />
all aspects of our lives.”<br />
He concludes: “Its physical attributes will soon be less of a<br />
story too. Once all lab grown are D colour and flawless, the<br />
only differentiating attribute will be brand. And brand is a<br />
story. Until lab grown secedes from natural, it will continue<br />
sinking in value: both monetary and perceptional.”<br />
The Natural Diamond Council (NDC) is one organisation<br />
hoping to boost the public image of diamonds and diamond<br />
jewellery, beginning with a recently launched campaign<br />
featuring UK actress Lily James.<br />
NDC CEO David Kellie says he fears the wider industry still<br />
fails to understand the importance of marketing. “I don’t<br />
believe that our industry institutions understand the downside<br />
of not supporting category marketing,” he says.<br />
“The industry is not yet stepping up and recognising that<br />
we cannot be a successful industry in a luxury market<br />
without more aggressive support behind diamond category<br />
marketing.”<br />
Wake up call<br />
The fight between champions of natural and lab-created<br />
diamond networks is arguably as heated as ever and the<br />
tension exists for a good reason – livelihoods remain at stake<br />
and with the jewellery industry one of only a few industries<br />
where family connection to business remains strong, concepts<br />
of lineage and tradition are also at stake.<br />
For those concerned about the future, Rapaport has a simple<br />
message.<br />
“By the way – don’t freak out everybody, this is the way the<br />
world works,” he advises.“You’ve got winter and you’ve got<br />
summer. Nobody is surprised when it’s hot in the summer<br />
and cold during winter.<br />
“We need to get used to the fact that things work in cycles<br />
and that we are now involved in a far greater economic<br />
system which involves factors such as inflation, interest rates,<br />
disposable income and the wealth effect.<br />
“Diamonds are ping-pong balls floating in the ocean, always<br />
up and down, but hey - at least they’re floating!”<br />
54 | <strong>October</strong> <strong>2022</strong>
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<strong>October</strong> <strong>2022</strong> | 57
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<strong>October</strong> <strong>2022</strong> | 59
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A classic necklace with a<br />
modern twist! The Demi<br />
Compass Necklace features<br />
the double paper clip and<br />
wheat chain style, paired with<br />
the embossed compass on the<br />
pendant. Designed to share in<br />
your journey.<br />
fabuleuxvous.com<br />
Grown Diamonds<br />
Showcasing the world's<br />
largest round lab-grown<br />
diamond. This stunning<br />
11.32-carat F VVS2 round<br />
brilliant-cut diamond is IGI<br />
certified, an ideal cut with<br />
hearts and arrows.<br />
growndiamonds.com.au<br />
Harper & Rowe<br />
Harper & Rowe's fashionforward<br />
Hydra, gold hook<br />
earrings are the perfect<br />
accessories for making a stylish<br />
statement this summer. These<br />
stunning earrings are crafted<br />
from large and luminous 14-<br />
15mm flat, baroque freshwater<br />
pearls, which have been wrapped<br />
informally in 14-carat gold wire.<br />
harperandrowe.com.au<br />
Ikecho<br />
This fashionable and sleek sterling<br />
silver cubic zirconia bangle has<br />
quickly proven popular at Ikecho.<br />
Featuring a white or pink Edison<br />
pearl it creates an everyday option for<br />
a simple but elegant bangle.<br />
ikecho.com.au<br />
60 | <strong>October</strong> <strong>2022</strong>
18-carat white or yellow gold<br />
ring featuring an Australian fancy<br />
yellow cushion cut diamond (0.66<br />
carats) and 32 0.41ct white round<br />
diamonds G+/SI. Additionally,<br />
an 18-carat white or yellow gold<br />
earrings featuring two cushioncut<br />
Australian fancy yellow.<br />
diamonds 0.55 carats and 28 0.28<br />
white round diamonds G+/SI.<br />
Eugene's <strong>Jeweller</strong>y<br />
eugenesjewellery.com.au<br />
Eugene’s <strong>Jeweller</strong>y is a<br />
Melbourne based family business<br />
that’s operated since 1993.<br />
Eugene’s <strong>Jeweller</strong>y takes pride in<br />
the manufacture of gold bracelets,<br />
chains, bangles and earrings in<br />
9-carat, 10-carat and 18-carat<br />
yellow, rose and white gold.<br />
Gerrim<br />
gerrim.com<br />
Gerrim's spring pink opal<br />
flower ring is highlighted with<br />
multi-color sapphires and<br />
diamonds.<br />
Femininity and elegance are<br />
the first concepts that come to<br />
mind with Gerrim's beautiful<br />
teardrop pink opal set that<br />
is beautifully enhanced with<br />
diamonds.<br />
Plain earrings<br />
have never looked<br />
so versatile.<br />
Ikecho's freshwater<br />
baroque pearl<br />
huggy earrings,<br />
showcasing all the<br />
shine that 9-carat<br />
gold has to offer.<br />
ImajPak<br />
Imajpak offers retailers a onestop<br />
shop for all their jewellery<br />
packaging, jewellery displays,<br />
jewellery boxes and gift items.<br />
imajpak.com<br />
<strong>October</strong> <strong>2022</strong> | 61
<strong>2022</strong> Christmas Ready | ADVERTISING PROMOTION<br />
Infra Laser<br />
infralaser.com.au<br />
Laser 3D printing in precious<br />
metals including gold, silver,<br />
platinum, stainless steel, bronze,<br />
and copper. Small footprint and<br />
user-friendly operation. No need<br />
for wax and casting, print your<br />
design directly in metal.<br />
Laser welding and<br />
additive machines<br />
manufactured in<br />
Germany. Bench top and<br />
self-standing welding<br />
units available for<br />
manufacture and repair<br />
of jewellery quickly and<br />
without risk of damaging<br />
the metal or precious<br />
stones. Infralaser's<br />
experienced staff proudly<br />
offers training and<br />
assistance.<br />
Labanda<br />
Servicing both<br />
the watch<br />
and jewellery<br />
industries,<br />
Labanda is an<br />
Australian supplier<br />
specialising in<br />
quality tools<br />
and equipment,<br />
with exceptional<br />
service.<br />
labanda.com.au<br />
Stow Lockets<br />
Link Wholesale<br />
Beautifully handcrafted<br />
and customisable, STOW<br />
Lockets allows the wearer<br />
to create a one-of-a-kind<br />
charm locket that's uniquely<br />
theirs. Featuring a variety of<br />
gold and silver locket styles<br />
with a selection of over 100<br />
gorgeous petite charms<br />
to enclose, Stow Lockets<br />
makes a truly meaningful,<br />
personalised jewellery piece.<br />
stowlockets.com<br />
Miln & Co<br />
This beautiful, handmade and hand-engraved<br />
9-carat rose gold and sterling silver hinged<br />
bangle is one of many exquisite designs<br />
produced by fifth generation-owned jewellery<br />
manufacturers. It is also available in 9-carat<br />
yellow gold and polished sterling silver.<br />
Contact Miln & Co for more details or visit their<br />
website.<br />
milnco.com.au<br />
Moore Jewels<br />
moorejewels.com.au<br />
Multi-coloured, hand-set cubic<br />
zirconia hoops in sterling silver.<br />
Available in rhodium plated, rose<br />
gold plated and rich yellow gold<br />
plated, they’re the perfect accessory<br />
to take you from day to evening.<br />
30mm diameter.<br />
Nomination<br />
Timesupply<br />
nomination-jewellery.com.au<br />
Not only does Nomination Italy<br />
offer the unique and highly popular<br />
Composable link collection, but<br />
also a fabulous range of Fashion<br />
<strong>Jeweller</strong>y. The new Aurea range<br />
showcases dainty circular pendants<br />
and earrings in 24-carat gold<br />
plated silver and silver, set with<br />
white, black or the exclusive coffee<br />
coloured sparkling cubic zirconia.<br />
Palloys<br />
palloys.com<br />
Palloy's ReadyMade<br />
collection offers fully finished<br />
engagement rings, ready to set<br />
with beautiful centre stones.<br />
Or what about a fully finished<br />
diamond wedding band ready to<br />
ship the next day? ReadyMade<br />
provides the luxury of 100 per<br />
cent certified Australian gold in<br />
18-carat yellow or white gold.<br />
62 | <strong>October</strong> <strong>2022</strong>
High-quality laser<br />
engraving machines<br />
manufactured in<br />
Germany. Engrave<br />
precious metals as well<br />
as leather, plastics and<br />
timber. Rotary devices<br />
available to engrave on<br />
rings and bracelets.<br />
La Couronne<br />
Discover pink tourmaline<br />
complemented with diamonds<br />
from La Couronne’s new Elizabeth<br />
Birthstone Collection. The<br />
9-carat gold range pays homage<br />
to the Platinum Jubilee and<br />
commemorating one’s unique<br />
achievements.<br />
lacouronnejewellery.com.au<br />
LJ West<br />
The Scott West Aureole Hoop<br />
Earrings Collection, featuring<br />
large (37mm) 18-carat yellow<br />
gold with 268 stones of natural<br />
pink diamonds (2.16-carat)<br />
as well as 154 white melee<br />
diamonds (1.42-carat).<br />
scottwestdiamonds.com<br />
Mark McAskill <strong>Jeweller</strong>y<br />
Mark McAskill presents this<br />
modern and elegant coloured<br />
stone ring featuring morganite<br />
and diamonds set in 9-carat or<br />
18-carat rose gold.<br />
markmcaskill.com.au<br />
Natural, faceted garnets shimmer<br />
in these drop earrings reminiscent<br />
of the Chinoiserie style. Made from<br />
925 sterling silver, they measure<br />
5cm by 2.5cm and frame the face<br />
elegantly-perfect pieces for day or<br />
evening wear.<br />
Morris & Watson<br />
Always aiming to improve service and product<br />
range, Morris and Watson now offer computer<br />
aided design (CAD) services directly through<br />
the online portal! Available in both Australia<br />
and New Zealand, you can take your ideas<br />
from concept to creation and speak directly<br />
with experienced designers to ensure design<br />
success.<br />
morrisandwatson.com<br />
Pandora<br />
au.pandora.net<br />
The latest from one of the<br />
world's leading personalised<br />
jewellery brands, the Keith Haring<br />
x Pandora snake chain sterling<br />
silver bracelet with pink and black<br />
enamel clasp.<br />
Eye-catching and sure to<br />
impress, the Keith Haring x<br />
Pandora sterling silver and<br />
14-carat gold plated bracelet with<br />
black enamel.<br />
<strong>October</strong> <strong>2022</strong> | 63
<strong>2022</strong> Christmas Ready | ADVERTISING PROMOTION<br />
PD PAOLO<br />
Heart and Grace<br />
pdpaolo.com<br />
PDPAOLA reinvents the basics.<br />
Unpretentious staple pieces that<br />
are perfect for everyday wear but<br />
designed with an added dazzle<br />
for those special occasions.<br />
Discover the new essentials from<br />
PDPAOLA, made from sterling<br />
silver and 18-carat gold plating,<br />
that can be layered together or<br />
worn on their own.<br />
Pink Kimberley<br />
SAMS Group Australia<br />
pinkkimberley.com.au<br />
The Pink Kimberley Farrah<br />
Ring is bold and vibrant,<br />
showcasing a stunning,<br />
round Argyle pink diamond,<br />
surrounded by floral inspired<br />
halos of diamonds. The<br />
Rinalla ring is an elegant,<br />
timeless band, featuring an<br />
array of Argyle pink diamonds<br />
surrounded by white<br />
diamonds for added sparkle.<br />
Sapphire Dreams<br />
SAMS Group Australia<br />
sapphiredreams.com.au<br />
New Sapphire Dreams designs<br />
feature classic trilogy and<br />
solitaire designs, showcasing<br />
Australian sapphires, encrusted<br />
with white diamonds. These<br />
sapphires come in an array of<br />
vibrant colours, from deep blue<br />
and green, to bright yellows and<br />
orange, and the rarest, Parti.<br />
Sif Jakobs<br />
Emerald green is the colour<br />
of the season. These beautiful<br />
sparkling jewels from the<br />
new Roccanova Collection<br />
designed by Sif Jakobs in<br />
Copenhagen offer beautiful<br />
quality and the latest in<br />
Scandinavian style.<br />
timesupply.com.au<br />
Surfsands<br />
Surfsands proudly carries<br />
Australian opal, the national<br />
gemstone. The opal range<br />
includes all types and<br />
varieties like black, white,<br />
crystal, boulder, doublets,<br />
triplets, treated matrix,<br />
specimens and carvings and<br />
each covered by a wide range<br />
of sizes, shapes and qualities.<br />
surfsands.com<br />
The Battery Man<br />
orders@thebatteryman.com.au<br />
Looking for new ways to<br />
increase business? Try a Seiko<br />
Watch Battery Replacement<br />
Service. Ask The Battery Man<br />
about their Seiko Starter Kits.<br />
UNOde50 Spain<br />
Timesupply<br />
The new Ikon Collection celebrates<br />
everyday objects, embracing the<br />
simplicity of form and function. Bracelets,<br />
necklaces, earrings, and rings combine<br />
conventionality with a bold and rebellious<br />
touch, in a quirky and unique design<br />
typical of the iconic UNOde50 style.<br />
Handmade in Spain.<br />
unode50.com.au<br />
Virtual Diamond<br />
Boutique<br />
Virtual Diamond Boutique<br />
puts the world’s finest<br />
diamonds, gemstones,<br />
and finished jewellery<br />
right in your hands. Rich<br />
visual search and in-app<br />
communications transform<br />
the sourcing experience and<br />
make you more efficient and<br />
effective than ever before.<br />
vdbapp.com<br />
64 | <strong>October</strong> <strong>2022</strong>
Qudo<br />
Timesupply<br />
New additions to the highly collectable<br />
Qudo Interchangeable range. Sparkling<br />
colourful crystals and ever popular<br />
crystal pearls adorn the new range of<br />
tops, plus new 'spacer' rings inspire<br />
customers to add to their collection<br />
and create their own combinations.<br />
qudojewellery.com.au<br />
RAS<br />
Timesupply<br />
The eye-catching Tree collection<br />
by RAS offers a bold and unique<br />
design and is handmade in<br />
Spain. Large pendant on a<br />
long leather necklace and<br />
drop earrings in two colours.<br />
For those who want to make a<br />
statement.<br />
timesupply.com.au<br />
Stones & Silver<br />
Proudly presented by<br />
Stones and Silver, these<br />
beautiful new spin rings<br />
set in .925 sterling silver<br />
with either brass or copper<br />
featuring the sparkle of the<br />
cubic zirconia stone.<br />
stonesandsilver.com.au<br />
Handcrafted in<br />
.925 sterling silver<br />
these stunning lariat<br />
bracelets are available<br />
in a variety of faceted<br />
stones from Stones and<br />
Silver.<br />
New & upgraded<br />
Seiko S880 digital<br />
watch tester, used by<br />
Seiko watchmakers.<br />
Recommended for<br />
high quality watches.<br />
It measures battery<br />
voltage, resistance<br />
of coil block, light<br />
segmentation and the<br />
current consumptions<br />
of circuit block or<br />
movement module.<br />
Easy to use. The Battery<br />
Man will offer a 14-day<br />
refund if not satisfied<br />
with your purchase.<br />
TomMac Photography<br />
Professional photography<br />
experience jewellery in the<br />
UK, Hong Kong and Australia<br />
spanning more than 15 years.<br />
Highly skilled and a joy to<br />
work with.<br />
Contact TomMac photography<br />
for great <strong>Jeweller</strong>y images to<br />
make your collections shine.<br />
tommac.photography<br />
World Shiner<br />
World Shiner proudly<br />
introduces a new range of<br />
necklaces and bracelets<br />
with natural and lab-grown<br />
diamonds. The range<br />
includes sizes ranging<br />
from 2-point to 50-point.<br />
worldshiner.com<br />
ZETAGS<br />
ZETAGS provides everything you need to<br />
print using the world’s most advanced<br />
solutions for jewellery. Get the world’s most<br />
durable tags exported to over 40 countries,<br />
along with a cloud-based design and print<br />
package that runs right from your Google or<br />
Safari web browser.<br />
ZETAGS<br />
zetags.com<br />
L O O K Y O U R B E S T<br />
<strong>October</strong> <strong>2022</strong> | 65
BUSINESS<br />
Strategy<br />
Managing customer experience<br />
in times of inflation<br />
Concerns over inflation and recession can negatively impact consumer mindset.<br />
STEVEN VAN BELLEGHEM shares advice on thriving as a retailer in a market populated by sensitive customers.<br />
One of the topics I’ve been questioned<br />
over most commonly in the past weeks<br />
is dealing with customer experience in<br />
times of high inflation.<br />
It’s a very relevant issue today, of course,<br />
and due to the state of the global economy<br />
retailers everywhere are dealing with<br />
customers that are very mindful and<br />
careful of their spending habits.<br />
So how can a business deal with this in<br />
terms of customer experience? In my<br />
experience, there’s a short-term answer<br />
and a long-term answer.<br />
Beginning with the immediate answer,<br />
managing a trepid market as a retailer is<br />
all about successful budget management.<br />
Increase in price<br />
In difficult times, many businesses are<br />
looking for short-term measures to keep<br />
their position stable.<br />
These are often to their own advantage,<br />
however, sadly also often come at the<br />
disadvantage of the customer. A simple<br />
example would be raising the price of a<br />
product or service. For some retailers, a<br />
price rise may not be a matter of choice,<br />
but of survival.<br />
How do you deal with a price increase<br />
from a customer service standpoint?<br />
There are three important points to take<br />
into consideration.<br />
• Be transparent: You have to tell the<br />
real story about your situation to your<br />
customers. Be open about why you need to<br />
increase the prices.<br />
• Be proactive and honest: Never surprise<br />
customers with a price rise, but warn<br />
them up front and, again, be open in your<br />
communication about the factors behind<br />
the rise.<br />
• Brief your team: In my experience, this<br />
one often gets overlooked. Staff on the<br />
salesfloor will get a lot of complaints and<br />
questions about the price increase. You<br />
cannot have staff provide customers with<br />
vague answers such as “it’s something the<br />
boss decided.”<br />
Keep your staff informed and updated<br />
on the narrative so they can relay that<br />
information with the same conviction<br />
as someone else in the organisation<br />
would do, as this can make a significant<br />
difference in the way difficult news is<br />
perceive by customers.<br />
Remember, there is always the choice to<br />
not raise your prices, particularly if your<br />
competitors do.<br />
In that case, it is important to<br />
communicate that decision publicly.<br />
Inform your staff of the decision to<br />
maintain current prices and ensure<br />
that the messaging is reaching your<br />
customers.<br />
Cost-cutting<br />
Another popular short-term way of<br />
tackling the pressures of inflation is by<br />
If you are going<br />
to cut costs<br />
in customer<br />
service, it’s<br />
crucial to<br />
rethink where<br />
you will be<br />
able to create<br />
a positive<br />
surprise to<br />
counter<br />
that loss.<br />
reducing expenses.<br />
Unfortunately, that often involves the area<br />
of customer service and the relationship<br />
your business has with customers may<br />
suffer as a result.<br />
Sometimes, businesses have no choice<br />
but to make these kinds of cuts. However,<br />
if you find yourself in this position, make<br />
sure you make the most of the change<br />
by creating ‘moments’ or offering selfservice<br />
alternatives.<br />
Lately, I’ve been discussing Dan and Chip<br />
Heath’s book “The Power of Moments”.<br />
The premise of the book is simple yet<br />
brilliantly effective. If we were to measure<br />
every single interaction of a business with<br />
a customer, most would probably have an<br />
average score of about 6.5 in 10. That’s<br />
normal, because there are bound to be<br />
highs and lows in the data.<br />
However, if businesses manage to<br />
compile a number of interactions<br />
that are outstanding, surprising and<br />
overwhelmingly positive, the overall<br />
feeling will eventually climb to an 8-9.<br />
It’s a simple lesson based around the<br />
impact significant outlying factors can<br />
have to an average within a data set.<br />
For me, this is the perfect mindset to pair<br />
with downsizing and cost-cutting.<br />
If you are going to cut costs in customer<br />
service, it’s crucial to rethink where you<br />
will be able to create a positive surprise to<br />
66 | <strong>October</strong> <strong>2022</strong>
counter that loss.<br />
If you choose those moments right, you<br />
may improve your word-of-mouth, while<br />
decreasing your costs in other places.<br />
Offer self-service<br />
Another method for improving customer<br />
experience while still lowering costs is by<br />
optimising your self-service capabilities.<br />
Explore methods for prompting customers<br />
to find the solutions to issues on their<br />
own. A perfect example of that is Dutch<br />
e-commerce company Coolblue. It<br />
constantly monitors the questions asked in<br />
their contact centre and then creates short<br />
and simple explainer videos for those<br />
questions that are commonly repeated.<br />
Coolblue has exceeded 130 million views<br />
on its videos.<br />
The success for Coolblue in this example<br />
is two-fold. Firstly, the business has sent<br />
clear messaging to customers that it is<br />
not only a provider of products, but also<br />
a reliable resource for troubleshooting<br />
issues around its products.<br />
Secondly, Coolblue has reduced the<br />
overheads associated with operating a<br />
customer contact centre, as staff field<br />
less questions when customers can easily<br />
access solutions online.<br />
The long term<br />
So, what about the big picture and is there<br />
a long-term solution to handling customer<br />
concerns regarding inflation?<br />
In my experience, there is one crucial<br />
question to be asked of an organisation:<br />
Are you willing to sacrifice as a business<br />
in the short term to win trust in the long<br />
run? Are you willing to experience some<br />
pain right now to maintain a healthy<br />
customer relationship?<br />
In my latest book, I discussed the ‘offer<br />
you can’t refuse’ model.<br />
If you’re not familiar with it, this is a brief<br />
summary - the bare minimum demand<br />
of today’s market is that you meet the<br />
following requirements: a good product,<br />
service and price, paired with digital<br />
convenience.<br />
These four criteria are the recipe for a<br />
quality transactional relationship in <strong>2022</strong>.<br />
However, that’s only half of the story, the<br />
bottom half. The top of the model is about<br />
being a ‘partner in life’ which means<br />
fostering a more in-depth customer<br />
relationship based around positive<br />
business contributions to the community.<br />
The concept of a great offering and digital<br />
convenience – is what helped us through<br />
COVID in a transactional context. The top<br />
of the model is the aspect that will help<br />
businesses survive these times of high<br />
inflation.<br />
If you succeed in increasing your value<br />
to the customer and to society, you will<br />
be able to develop a more enduring<br />
emotional relationship. You will keep<br />
customers loyal to your brand in difficult<br />
times by helping them create positive<br />
change in their lives.<br />
Lasting impact<br />
Ideas and inspiration can be found for<br />
jewellery retailers in other sectors.<br />
When the pandemic began many in the<br />
restaurant industry began offering home<br />
deliveries to keep customers engaged and<br />
donating leftover food to those in need via<br />
charities sends the message to customers<br />
that these businesses value the health of<br />
the community around them.<br />
In real estate, going above and beyond<br />
with a customer is what creates longterm<br />
connections. An agent who goes<br />
above and beyond to help a tenant find the<br />
right location to live will be remembered.<br />
SHORT<br />
TERM FIXES<br />
Increase<br />
product prices<br />
Ensure that you<br />
have a reliable<br />
explanation<br />
prepared for your<br />
customers.<br />
Cut<br />
operational<br />
costs<br />
If cost-cutting<br />
is unavoidable,<br />
ensure customer<br />
experience<br />
doesn’t suffer as<br />
a result.<br />
Self-service<br />
Help your<br />
customers help<br />
themselves.<br />
Likewise for a landlord who is conscious<br />
of rises in the cost of living and willing<br />
to alter agreements with tenants to help<br />
them through difficult times.<br />
<strong>Jeweller</strong>y retailers should be able to<br />
utilise similar options in difficult economic<br />
times.<br />
Remaining engaged with customers via<br />
social media, offering videos showcasing<br />
the latest products. Exploring reduced<br />
prices wherever possible, for example, via<br />
a loyalty program. Enter the business in<br />
community events and supporting local<br />
charities keeps a store active in the minds<br />
of customers.<br />
Ensure that when a customer does visit<br />
your store, their needs are answered<br />
by quality customer service which<br />
guarantees that the next time they’re<br />
in the market for jewellery, they’ll be<br />
returning to your store.<br />
Conclusion<br />
Are you willing to sacrifice in the short<br />
term to create trust in the long run?<br />
Answering this question correctly is<br />
essential in periods of inflation. Why?<br />
You must always be aware that you, as a<br />
business, are not the only one looking to<br />
cut costs!<br />
Your customers are also in cost-cutting<br />
mode and feeling similar financial<br />
pressures. And therefore your biggest<br />
challenge, in over the next few months and<br />
maybe years, is to make yourself so likeable<br />
and even indispensable, that customers do<br />
not cut you out of their budget.<br />
STEVEN VAN BELLEGHEM<br />
provides coaching, workshops and<br />
advice about social media and<br />
conversation management. Learn More:<br />
stevenvanbelleghem.com<br />
<strong>October</strong> <strong>2022</strong> | 67
BUSINESS<br />
Selling<br />
Important elements of sales preparation: Part I<br />
The mindset of the average customer has significantly changed in the past two decades.<br />
RYAN ESTIS encourages salespeople to view this as an opportunity, not a challenge.<br />
Did you know that most sales are closed<br />
before the final interaction between sales<br />
staff and the customer begins?<br />
When business-to-business (B2B) buyers<br />
are considering a purchase, on average<br />
they only spend 17 per cent of their time<br />
talking to potential suppliers.<br />
The same study from Gartner, a US-based<br />
firm, revealed that sales staff have roughly<br />
five per cent of a customer’s time and<br />
attention during the process of a purchase.<br />
It’s a similar story for business-toconsumer<br />
(B2C) sales staff – particularly<br />
in an online environment. According<br />
to research from Microsoft, consumer<br />
attention has dropped to an eight-second<br />
average! So, what does this mean for<br />
sellers? Sales preparation is more<br />
important than ever.<br />
Customers already have a clear view of<br />
your products, services and benefits — as<br />
well as those of your competitor — because<br />
of online research they’ve already done.<br />
Customers don’t want to spend time<br />
discussing “what keeps them up at night.”<br />
They are well down the path of solving their<br />
‘problems’ before you meet them.<br />
In this new era of selling, customers are<br />
self-servers. Sales staff have no choice<br />
but to radically change their tactics. As a<br />
salesperson, you need to meet customers<br />
where they are — which is much deeper<br />
into the decision cycle.<br />
Targeted research<br />
The more you know about your customers<br />
the better prepared you’ll be when crafting<br />
your sales presentation. Fortunately,<br />
today’s salespeople have more information<br />
at their disposal than ever before.<br />
Modern sales and marketing organisations<br />
can understand a potential buyer’s<br />
intent based on their online activities.<br />
Understanding and applying intent data can<br />
focus your efforts by pinpointing the most<br />
likely buyers at the right moment.<br />
According to a report by TrustRadius, a US<br />
business research and review platform,<br />
only 40 per cent of businesses work with,<br />
Problems are some of your best opportunities for building relationships,<br />
especially when you can help prospective customers solve those problems.<br />
what’s known as an, ‘intent data provider’.<br />
By understanding how intent data works<br />
and how it applies to your sales cycle, you<br />
can see where potential buyers are in their<br />
journey, what services and products your<br />
prospects are viewing — and whether<br />
those products belong to your business or<br />
that of a competitor.<br />
Intent data is one of many ways to<br />
research your target customer. Whatever<br />
your approach, make sure your staff<br />
understands the data and can access it.<br />
Answer these questions to be better<br />
prepared:<br />
• Where are potential and current<br />
customers spending most of their time?<br />
• What social channels are they creating<br />
or consuming content? LinkedIn? YouTube?<br />
Are they engaging in industry forums?<br />
If you know where they are, you can<br />
understand what content they’re<br />
consuming and whether they’re getting<br />
close to a purchasing decision.<br />
Find the right tone<br />
If you’re communicating with a potential<br />
customer in an online setting, take note of<br />
the tone of their engagement, particularly<br />
on social media.<br />
Some businesses encourage formal<br />
communication from every employee at all<br />
times and on all platforms.<br />
Problems<br />
are some of<br />
your best<br />
opportunities<br />
for building<br />
relationships,<br />
especially when<br />
you can help<br />
prospective<br />
customers<br />
solve those<br />
problems. The<br />
best salespeople<br />
are problemsolvers.<br />
If you don’t see any personal updates or<br />
casual banter on the social media of your<br />
potential customer, take that as a good<br />
sign that your tone should be formal and<br />
professional when communicating with<br />
them.<br />
Study their content and look for<br />
information revealing how they position<br />
themselves. You can learn a surprising<br />
amount of helpful information about a<br />
potential customer’s goals from a small<br />
amount of research. Look at your existing<br />
data for help answering this question.<br />
What buyer personas are you operating<br />
with? What can your website analytics<br />
or customer relationship management<br />
system tell you?<br />
Purchasing decisions<br />
Who is making the purchasing decisions?<br />
There’s no point in creating a great sales<br />
offer only to discover it isn’t the right<br />
person for it.<br />
In <strong>2022</strong>, there are an average of<br />
seven stakeholders involved in any<br />
significant B2B buying decision. In a B2C<br />
environment, attempting to sell to the<br />
wrong product to someone is a mistake<br />
that’s easier to avoid – but still happens far<br />
too often!<br />
Overcoming challenges<br />
Problems are some of your best<br />
opportunities for building relationships,<br />
especially when you can help prospective<br />
customers solve those problems. The best<br />
salespeople are problem-solvers.<br />
Helping your potential customer discover<br />
a solution to a challenge is the best way to<br />
secure their trust.<br />
In the second part of this series, I’ll discuss<br />
several other strategies you can adopt to<br />
complement the selling focuses outlined in<br />
this edition.<br />
RYAN ESTIS is a Keynote speaker,<br />
author and founding partner of Impact<br />
Eleven helping companies embrace<br />
change, align teams, deliver value and<br />
drive growth. Learn more: ryanestis.com<br />
68 | <strong>October</strong> <strong>2022</strong>
BUSINESS<br />
Management<br />
Why not make this Christmas the best ever?<br />
Good fortunes await many businesses in the holiday period.<br />
DAVID BROWN highlights the importance of preparation prior to December trading.<br />
It only seems like yesterday you were<br />
collapsing exhausted from another frantic<br />
December, and yet here we are again on<br />
the cusp of the busiest time of year. You<br />
probably feel you’ve hardly had time to<br />
recover!<br />
There’s an old saying in property investing<br />
- “money is made when you buy, not when<br />
you sell”. It’s another way of saying that<br />
preparation is important to set yourself up<br />
for the profit ahead.<br />
As much as you may not want to think<br />
about it just yet, this period leading up to<br />
the end of the year is the crucial period<br />
that will determine just how profitable your<br />
December and January trading will be.<br />
To make the most of period I like to focus on<br />
a few key areas that your business will need<br />
to have in order if you want to ensure this is<br />
your most profitable trading period yet.<br />
Inventory<br />
Inventory is your most significant<br />
investment, and it becomes even more<br />
critical at this time of year.<br />
Not having the correct product can cost<br />
you thousands of dollars in missed sales.<br />
Too much of the wrong product will tie up<br />
cashflow for much of next year.<br />
I like to start this process by reviewing<br />
the best sellers over the past few months.<br />
Chances are this product will sell multiple<br />
times during the December period.<br />
How quickly can you re-stock? If supply will<br />
be an issue, as it is for many things in the<br />
current climate, you may want to ensure<br />
you have additional stock of these popular<br />
items in stock.<br />
This may cost a few thousand dollars in<br />
extra product, but the investment will be<br />
worth it if it means not missing out on sales.<br />
Additionally, consider the need for extra<br />
stock in seasonal or promotional products<br />
where demand may be higher than usual.<br />
Staff<br />
It may seem early, but it’s a good idea to<br />
have your roster planned for the whole<br />
What will you be doing to attract customers to your store this year?<br />
How will you differentiate yourself from the competition?<br />
month of December as soon as possible.<br />
This isn’t just about giving your staff<br />
certainty, it is also about making sure your<br />
best staff members are available during<br />
your busiest periods, particularly leading<br />
into the final few days.<br />
If your store is typical of jewellery retailing,<br />
you’ll achieve around 50 per cent of your<br />
monthly sales between 20-25 December,<br />
and your roster should reflect this<br />
accordingly.<br />
Now is also the time to organise staff<br />
training before it becomes too busy to<br />
do so. Make sure your staff are aware of<br />
which products you want to sell, and which<br />
items and offers are being promoted to the<br />
public.<br />
Marketing<br />
What will you be doing to attract<br />
customers to your store this year? How<br />
will you differentiate yourself from the<br />
competition?<br />
If your marketing plan isn’t organised by<br />
the middle of November, you’re likely to be<br />
leaving it too late.<br />
A well-organised and scheduled marketing<br />
plan will be crucial to success - so don’t<br />
leave it to chance!<br />
This isn’t just<br />
about giving<br />
your staff<br />
certainty, it<br />
is also about<br />
making sure<br />
your best<br />
staff members<br />
are available<br />
during your<br />
busiest periods,<br />
particularly<br />
leading into the<br />
final few days.<br />
Housekeeping<br />
It’s the little things in a jewellery store that<br />
can make the biggest difference.<br />
Are the lights all working and are the bulbs<br />
fresh? Do you have sufficient inventory<br />
of your consumables, such as packaging<br />
and stationery? There’s nothing worse<br />
when you have a store full of customers<br />
and you’re forced on a mad hunt for a<br />
replacement receipt printer roll!<br />
Communication<br />
Remind your staff of sales goals for this<br />
season and consider an incentive for them<br />
if they reach their target.<br />
It’s a good idea to have a staff meeting<br />
to start your December preparation<br />
and to make sure you continue the<br />
communication during the month as well.<br />
As energy starts to decline, regular<br />
motivational pep talks will be critical<br />
to ensure you stay on track and that<br />
employees don’t become overwhelmed<br />
and begin to falter.<br />
You may not want to share specific financial<br />
figures with all staff, however letting<br />
them know the business is tracking, as a<br />
percentage of the goal, can still be a strong<br />
catalyst to inspire performance.<br />
Many businesses rely on a strong holiday<br />
period to supplement the remainder of<br />
the year, and preparation is the key to<br />
succeeding when it matters most.<br />
Getting organised today is the most<br />
important thing you can do in order to<br />
succeed tomorrow.<br />
Taking the time to map out your plan for<br />
December and January – addressing<br />
inventory needs, staffing structure, and<br />
marketing plans - will result in a more<br />
satisfying, and ultimately much more<br />
profitable, end to your year.<br />
DAVID BROWN is co-founder<br />
and business mentor with Retail<br />
Edge Consultants. Learn more:<br />
retailedgeconsultants.com<br />
<strong>October</strong> <strong>2022</strong> | 69
BUSINESS<br />
Marketing & PR<br />
How to create attention-grabbing content<br />
using visual hierarchy<br />
What separates the best from the rest when it comes to marketing?<br />
SIMON DELL explains the five key principles of visual hierarchy.<br />
Have you ever played one of those games<br />
where you have to guess the name of a<br />
brand based on the logo, with the twist<br />
being that you’re purely looking at the<br />
visual design aspect of the brand without<br />
any words or text?<br />
So, how’d you go? Were the visual<br />
elements of each image enough for you to<br />
ascertain the brand that they belong to?<br />
This is an example of visual hierarchy; the<br />
arrangement of graphic design elements<br />
with each element having a unique order of<br />
importance.<br />
The weight of each visual element defines<br />
its importance in a design’s hierarchy,<br />
thereby visually communicating to the<br />
audience on what to focus and the order in<br />
which to perceive information.<br />
When you’re able to identify McDonalds<br />
fries based on the red and yellow fry<br />
carton, or any Coca Cola product because<br />
on the cherry red can with white ribbon<br />
spacing, the owners of these brands are<br />
clapping their hands in delight successful<br />
the goals of their visual hierarchy have<br />
been achieved.<br />
The great thing about visual hierarchy<br />
is that it can apply to different facets<br />
of marketing - whether it is branding,<br />
packaging or content. The most difficult of<br />
the three, from an execution standpoint,<br />
however, is content.<br />
In today’s digital world brands have little<br />
time in advertising to make an impact and<br />
get a message across. In fact, research<br />
has shown that brands have about eight<br />
seconds to capture the attention of the<br />
audience. Therefore, implementing a<br />
brilliant content structure that is visually<br />
appealing is the surest way to grab the<br />
attention of your readers! How can you<br />
create content where its visual elements<br />
will engage with your audience?<br />
By mastering the five key principles of<br />
visual hierarchy.<br />
Size matters<br />
When it comes to visually attractive<br />
content, bigger is better!<br />
From the aspect of catching the eye, typography, logos or imagery that<br />
are sized larger naturally become a focal point.<br />
Content sizing is what helps guide the<br />
human eye around a landing page, giving<br />
readers a clear path to what aspects of<br />
your content should to be read first and<br />
providing them with an understanding of<br />
the message you are trying to deliver.<br />
From the aspect of catching the eye,<br />
typography, logos or imagery that are sized<br />
larger naturally become a focal point.<br />
Cadbury is one company that uses huge,<br />
funky typefaces to not only capture<br />
your attention but also direct your eyes<br />
towards the bottom of the page where the<br />
advertisement’s final message lies.<br />
Colour<br />
Just like that cherry red Ferrari that you<br />
see whizzing past you on the highway,<br />
bright colours stand out, command<br />
attention, and make a lasting impact.<br />
Colour also plays a role in the psychology<br />
of a buyer by tapping into emotions and<br />
compelling people to make a purchase.<br />
Take Tiffany & Co for example; its<br />
advertisements meticulously combine<br />
brand identification with images that<br />
highlight magnificent gold and silver<br />
products on contrasting backgrounds.<br />
Be sure to include colour cleverly in your<br />
content design principles.<br />
Spacing<br />
Have you ever noticed how hard it is to find<br />
your car keys amongst a table full of clutter<br />
“In today’s<br />
digital world we<br />
have little time<br />
in advertising to<br />
make an impact<br />
and get our<br />
message across.<br />
In fact, research<br />
has shown<br />
that brands<br />
have about<br />
eight seconds<br />
to capture the<br />
attention of the<br />
audience.”<br />
and other oddities? The same applies for<br />
content. Too often we seen content pieces<br />
inundated with text-heavy information<br />
and visuals that make it impossible to<br />
understand what the message is.<br />
That’s why it’s important to give your page<br />
layout some breathing by focusing on<br />
negative space and space utilisation.<br />
For example, visit the website of healthcare<br />
brand Quip. This funky alternative to<br />
flossing might look a little strange at<br />
first but Quip has cleverly used space to<br />
separate the product from its header and<br />
subheadings, giving viewers a clear idea of<br />
what is on offer.<br />
Alignment<br />
Align your content so that it can be<br />
processed effectively. Don’t be afraid to go<br />
against the status quo, especially if it aligns<br />
with your brand identity.<br />
Consider scanning patterns and reading<br />
patterns, in particular Z patterns and F<br />
patterns. Always remember the rule of<br />
thirds and consider using heat maps when<br />
aligning your web design content.<br />
Contrast<br />
The final principle to consider for creating<br />
visually attractive content is contrast.<br />
Contrast can be an exceptionally fun tool to<br />
utilise when incorporating visual hierarchy<br />
into your digital marketing content piece.<br />
Things such as fonts, colours, sizes, and<br />
textures all solidify the message that<br />
you’re trying to get across to your readers.<br />
Remember that in a world where shoppers<br />
are only allowing you eight seconds of their<br />
time to impress, effectively designing your<br />
content piece with the visual hierarchy in<br />
mind can drastically improve your chances<br />
of being noticed and creating a lasting user<br />
experience.<br />
SIMON DELL is co-founder and CEO<br />
of Cemoh, a Brisbane-based firm that<br />
provides marketing staff on demand.<br />
He specialises in digital marketing and<br />
brand management. Visit: cemoh.com<br />
70 | <strong>October</strong> <strong>2022</strong>
BUSINESS<br />
Logged On<br />
Is your website sending customers<br />
to your competitors<br />
The COVID situation has forced many businesses to rethink their online presence.<br />
SHANE O’NEILL offers some practical advice for improving your digital strategy.<br />
Sales continue to increase year after year<br />
as customers become comfortable with the<br />
process of internet shopping.<br />
And yet, so many retailers are hesitant to<br />
introduce e-commerce to their business.<br />
For these naysayers, the risks include<br />
the ability to fulfill orders, inventory<br />
management, and even concerns about<br />
fraudulent purchases. If you’re one of<br />
these hesitant few, it’s time to rethink your<br />
understanding of e-commerce.<br />
Brass tacks<br />
Few people realise that e-commerce isn’t<br />
restricted only to online transactions.<br />
Most retailers have well below a 3 per cent<br />
conversion rate for online sales. It’s about<br />
the entire online sales experience that<br />
leads to transactions, and in-store sales<br />
that are secured by an online encounter.<br />
Why are sales conversions under 3 per<br />
cent? Many independent retailers market<br />
their business within a specific radius<br />
around their store. Customers can easily<br />
stop in to see, touch, and try on the<br />
jewellery, which most still prefer to do,<br />
particularly with engagement rings.<br />
Why is this important? It’s about customer<br />
expectations. In an online shopping<br />
experience survey, 36 per cent indicated<br />
they would outright abandon a purchase<br />
based on a bad experience and 30 per cent<br />
would never return to that website again.<br />
More concerning, 33 per cent would<br />
immediately go to a competitor. It’s<br />
important to understand that consumer<br />
shopping habits have drastically changed<br />
in the past 10 years.<br />
What sort of functions can be put in place<br />
to stop these customers from fleeing?<br />
Customers are seeking robust image<br />
galleries with product titles, descriptions,<br />
and pricing, as well as wish lists, product<br />
inquiry support, and, of course, the<br />
convenience of finalising a purchase online.<br />
Today people begin their shopping online,<br />
exploring many different retailers for the<br />
products they are seeking and before<br />
Your customers want to see a product from all angles to really get a feel<br />
for the piece – give them that experience!<br />
reaching a final decision based on that<br />
browsing experience. Now more than ever<br />
before customers have made a decision<br />
before they enter a physical store.<br />
If you think you may be falling behind the<br />
rest of the market, consider utilising the<br />
following tools to improve your position.<br />
Practical tools<br />
The internet offers many powerful tools<br />
that when used correctly, will not only<br />
close an initial sale, but establish a loyal<br />
relationship with a customer for years to<br />
come. Evaluate your current online store<br />
with the following ideas in mind:<br />
• Current tech: Mobile responsive<br />
websites are a must-have. Current<br />
technology is focused on making the<br />
shopping experience more streamlined by<br />
eliminating consumer hesitation.<br />
Automated systems that contact visitors<br />
and users who have products in their<br />
shopping cart are commonplace now.<br />
• Product galleries: Offering high quality<br />
images of products should be common<br />
sense for all businesses, however,<br />
unfortunately many jewellery retailers are<br />
still offering half the effort required. Your<br />
customers want to see a product from all<br />
angles to really get a feel for the piece –<br />
give them that experience!<br />
• Details and descriptions: High quality<br />
product galleries should be paired with<br />
Now more than<br />
ever before<br />
customers have<br />
made a decision<br />
before they<br />
enter a physical<br />
store.<br />
well-written details and descriptions,<br />
however, far too many retail sites still fail<br />
to provide this to customers. The more<br />
information you can offer your customer<br />
about a product the better. These are your<br />
online showcases, make them fantastic!<br />
• Opt-ins and communication: Make<br />
sure it’s easy and straightforward for<br />
customers to contact you, including opting<br />
into email updates and appointment forms.<br />
• Shopping cart and payment: It goes<br />
without saying that you’ll need a shopping<br />
cart system, but think about offering a<br />
number of payment options.<br />
Including an option such as PayPal is also<br />
important, as many people feel secure<br />
using this service. Offer all that you can,<br />
within reason – it would be a shame to<br />
miss out on a great sale because you don’t<br />
offer a customer’s preferred payment<br />
option.<br />
• Reviews: Trust is crucial between the<br />
retailer and customer. An overwhelming<br />
source for new orders is referrals.<br />
Reviews are the online version of personto-person<br />
referrals. Consider platforms<br />
such as Podium to quickly build your<br />
review numbers.<br />
Add another dimension<br />
At the end of the day, website visitors need<br />
to have a smooth experience to finalise a<br />
purchase and an important part of that<br />
experience is any e-commerce angle. The<br />
truth is some customers would rather<br />
shop from the comfort of their own homes.<br />
Often, these customers have purchased<br />
from you before and have a positive view of<br />
your business.<br />
Don’t let them down! There’s no way<br />
around it - e-commerce will continue to<br />
shape how people shop online and there’s<br />
a chance the pandemic has permanently<br />
altered foot traffic to physical stores.<br />
SHANE O'NEILL is vice president of<br />
Fruchtman Marketing, a consultancy<br />
company specialising in jewellery .<br />
Learn More: fructman.com<br />
<strong>October</strong> <strong>2022</strong> | 71
My Bench<br />
Eleanor Hawke<br />
Abrecht Bird <strong>Jeweller</strong>s. Melbourne VIC<br />
Age 33 • Years in Trade 12 • Training Apprenticeship (NMIT) • Other Qualifications Diploma and Advanced Diploma in <strong>Jeweller</strong>y Engineering.<br />
SIGNATURE PIECE<br />
SLIDER PENDANT<br />
A slider pendant is part one of a three-piece series designed<br />
based on nature and its flora and fauna. The simple geometric<br />
framework is paired with an organic twisting and interlocking<br />
vine that’s adorned with a variety of leaves, yellow gold granules<br />
representing wattle and a scattering of diamonds representing<br />
the morning dew.<br />
4FAVOURITE GEMSTONE Diamonds, specifically<br />
champagne diamonds.<br />
4FAVOURITE METAL 18-carat gold, yellow and white<br />
gold. Great metals to work with, I love including contrasting<br />
colours in my work.<br />
4FAVOURITE TOOL <strong>Jeweller</strong>s saw. I love saw piercing<br />
intricate designs in my work.<br />
4BEST NEW TOOL DISCOVERY Laser welder.<br />
4BEST PART OF THE JOB Presenting clients with their<br />
new item of jewellery and seeing the joy in their faces.<br />
4WORST PART OF THE JOB Dropping gemstones and tiny<br />
pieces of metal on the floor. Searching forever!<br />
4BEST TIP FROM A JEWELLER If a job looks complicated<br />
and daunting as a whole, break it down into smaller<br />
components. Everything is made up of shapes that appear<br />
more complex than they are.<br />
4BEST TIP TO A JEWELLER Never stop learning and<br />
trying new techniques. Keep an open mind to new ideas.<br />
4BIGGEST HEALTH CONCERN ON THE BENCH<br />
Breathing in the polishing dust and chemical fumes.<br />
4LOVE JEWELLERY BECAUSE It gives me the opportunity<br />
to be artistic and creative. I love the idea of sketching a<br />
rough idea for an item of jewellery and watching a simple<br />
bar of gold transform into something spectacular.<br />
72 | <strong>October</strong> <strong>2022</strong>
OPINION<br />
Soapbox<br />
Forecasting the future<br />
in times of great change<br />
The international diamond industry is undergoing a period of significant change.<br />
PAUL ZIMNISKY outlines his vision of the future.<br />
Fellow New Yorker Bob Dylan once<br />
famously sang ‘the times they are<br />
a-changin’ and for the international<br />
diamond industry, those words are<br />
poignant in <strong>2022</strong> and beyond.<br />
The industry is undergoing a significant<br />
period of change as pressure is applied<br />
on a range of fronts, including but not<br />
limited to the rise of lab-created diamonds,<br />
geopolitical forces, and changing<br />
consumer mindsets, namely concerning<br />
environmentalism.<br />
For those operating in the retail sphere,<br />
keeping abreast of the changes that will<br />
come in the next five years is paramount.<br />
Prices<br />
In general, I believe natural diamond<br />
prices will be higher and lab-created<br />
diamond prices will be lower by the<br />
time we reach 2027.<br />
Perhaps most importantly of all, the<br />
differentiation between the two products<br />
will be more apparent in the eyes of<br />
consumers five years from now.<br />
Speaking of natural diamonds more<br />
specifically, most medium and larger<br />
stones will likely be sold with a certificate<br />
of origin, and the supply chain will be<br />
bifurcated between Russian and non-<br />
Russian goods.<br />
Speaking to lab-created diamonds more<br />
specifically, there will be more products<br />
sold the way that Lightbox is – fashion<br />
jewellery sold in linear price points.<br />
As far as new products, I am of the opinion<br />
that we will see lab-created diamond<br />
jewelry that is available in shapes,<br />
sizes, and colours that is not possible<br />
or economic with natural diamonds.<br />
For example, all-diamond rings and<br />
diamonds shaped as symbols, or perhaps<br />
as alphabet letters or zodiac signs. These<br />
will be available in many different colors.<br />
Also, I predict that we will see a lot more<br />
companies offering websites that allow<br />
customers to design and create their own<br />
custom jewellery in the coming years.<br />
Lab-created diamonds<br />
Since lab-created diamonds have<br />
become more mainstream over the past<br />
six or seven years, their availability and<br />
distribution has been intricately connected<br />
to supply. However, in recent years, levels<br />
of production have exploded, primarily in<br />
China and India.<br />
So, going forward it is going to be a lot<br />
more difficult to track lab-created<br />
diamond supply and sales, especially as<br />
more product is sold globally and on<br />
online marketplaces such as Amazon<br />
and Walmart in the US.<br />
I am forecasting that global lab-created<br />
diamond jewellery sales will exceed 10<br />
per cent of all diamond jewellery sales for<br />
the first time this year, with the share even<br />
larger in the US.<br />
That share will continue to creep up over<br />
the next five years, however, at a slower<br />
pace than in the past, as consumers<br />
perceive the products as being less<br />
substitutable.<br />
One eye on India<br />
The trend of lab-created diamond prices,<br />
both as a standalone product and relative<br />
to natural diamond prices, has been down<br />
and to the right since 2015 or so. That trend<br />
remains intact.<br />
Higher energy prices globally could put<br />
some stabilisation in nominal lab-created<br />
diamond prices in the short term, as that<br />
input cost is passed on from the producers,<br />
however, longer term I still see lab-created<br />
diamond prices aligning more with the cost<br />
of production, and not with that of natural<br />
diamonds, which is lower than where we<br />
are today.<br />
In the coming years, an important supply<br />
catalyst will be the Indian government’s<br />
For the natural<br />
diamond<br />
market,<br />
continuing<br />
to improve<br />
supply chain<br />
transparency<br />
and increasing<br />
spend on<br />
category<br />
marketing are<br />
the two key<br />
items to<br />
focus on.<br />
move to finance Indian lab-created<br />
diamond producers with loans to be<br />
used to purchase capital equipment,<br />
for example CVD reactors.<br />
The Indian government sees this as a way<br />
to stimulate exports. This is likely to lead<br />
to a further boom in lab-created diamond<br />
production volumes.<br />
So, I expect supply volumes to continue to<br />
ramp up, while relative prices continue to<br />
retreat.<br />
Where to from here?<br />
For the natural diamond market,<br />
continuing to improve supply chain<br />
transparency and increasing spend on<br />
category marketing are the two key<br />
items to focus on.<br />
There is a relatively straightforward<br />
solution to most of the natural diamond<br />
industry’s biggest challenges.<br />
If a consumer knows the source of their<br />
natural diamond – most importantly<br />
confirming that it is not a ‘blood diamond<br />
– then that provides a story and most<br />
importantly, a point of differentiation from<br />
that of a lab-created diamond.<br />
As far as marketing, anyone that has<br />
followed this industry for long enough<br />
understands how instrumental effective<br />
marketing is.<br />
The diamond industry lost its way a little bit<br />
in this area over the past decade and the<br />
prior, however, I sense that things are back<br />
on track with the Natural Diamond Council<br />
and the work that they are doing.<br />
The rest of the industry should support and<br />
contribute to this initiative when possible<br />
as everyone will benefit longer-term.<br />
Name: Paul Zimnisky<br />
Business: Paul Zimnisky Diamond Analytics<br />
Position: Independent analyst<br />
Location: New York City, US<br />
Years in the industry: 8<br />
74 | <strong>October</strong> <strong>2022</strong>
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