Jeweller - March 2023

VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY MARCH 2023
Express yourself Contradiction Falling behind?
THERE’S ONE DESIRE ALL CONSUMERS
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IGI Lab Cert#
559284340
563204712
561255172
560227788
564371660
561252108
566395911
561265170
566324079
563231184
516260460
555283312
559278555
551209455
551286255
544263375
532263316
551277512
520274009
537214014
551289789
553225586
539218527
541294287
553224598
537253072
564356491
563241542
528241643
557240583
532237105
519231081
557251922
560203626
563239262
559271818
546219044
Shape
BR
BR
BR
BR
BR
BR
BR
BR
BR
BR
BR
BR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PS
PS
PS
PS
PS
PS
PS
PS
PS
PS
EM
EM
EM
EM
EM
EM
Col/Clar
G-VS1
F-VS2
F-SI1
F-VS1
G-VS1
F-VS2
F-VS2
G-VS1
G-VS1
F-VS1
F-VVS2
F-VS2
F-VS1
F-VS1
E-VS1
G-VS1
G-VS2
F-VS1
G-VS2
F-VS1
E-VS2
H-VS1
F-VS1
G-VS1
H-VS2
G-VS1
G-VS2
D-VS1
G-VS1
F-VS2
F-SI1
E-VS1
E-SI1
F-VS1
E-VS2
D-VS2
F-SI1
Cut
ID
EX
ID
ID
ID
ID
ID
ID
ID
EX
ID
EX
Polish
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
Symmetry
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
Discount%
-97.50
-97.60
-97.40
-97.90
-97.80
-98.15
-98.10
-98.15
-98.25
-98.25
-98.35
-98.15
-97.70
-97.80
-97.60
-97.80
-98.00
-98.00
-97.75
-97.75
-97.80
-97.40
-97.50
-97.90
-97.40
-97.40
-97.75
-96.25
-97.60
-97.60
-97.20
-98.15
-98.50
-98.00
-98.00
-97.40
-97.70
Depth%
61.8
63.4
62.3
61
60.2
58.8
60.9
62
61.8
60
60.2
62.6
67.8
68.8
68.6
71.7
72.2
69.9
70.8
72.6
74
63.3
61.7
63.3
61.4
64
62.8
62
64.9
62.1
61.7
62.3
65.7
68
64.7
65.8
67
Table%
59
54
57.5
59.5
59
58.5
59.5
57.5
57
59.5
57
58.5
70.5
69
71.5
69
68.5
68
68.5
70.5
65
59
61.5
62.5
62
59
60.5
58.5
62
61.5
61
67
69
59
64
58
64.5
Total$
$6123.12
$3512.76
$2910.05
$2463.82
$2168.32
$1803.20
$1808.61
$1657.60
$1558.20
$1711.94
$933.82
$752.95
$8315.19
$6820.66
$6720.00
$913.88
$727.90
$683.40
$425.88
$472.14
$394.59
$4670.38
$3993.75
$2604.00
$1778.40
$2053.35
$1415.27
$2002.12
$930.00
$747.72
$415.80
$5832.68
$2630.25
$931.60
$660.00
$625.46
$341.55
Weight
5.05
4.01
4.07
3.61
3.52
3.42
3.34
3.2
3.18
3.01
2.31
2.2
7.02
6.02
5
2.68
2.51
2.01
1.82
1.72
1.52
5.06
4.5
4
3.8
3.51
3.07
2.81
2.5
2.01
1.5
5.63
5.01
2.74
2
1.94
1.5
22 W 48TH ST, NEW YORK, NY 10036, USA
CALL: +1 (212)-764-7841 | SALES@ELGDIAMONDS.COM
WWW.SANGHAVISOLITAIRE.COM/HOME/DAILYSPECIAL

IGI Lab Cert#
550256081
559297498
551209441
559297517
550246651
538201800
510192750
544264238
529263304
564369225
547259686
547259713
550237380
551291152
555272331
555265137
566306823
566391996
564370358
533214951
536289607
532251130
494185359
553223716
492110706
530287972
492131396
537256434
559297500
564355776
560244831
561281583
550237622
557212548
561293270
564368363
566312619
544241166
559295446
544272632
566393869
Shape
CU
CU
CU
CU
CU
CU
CU
CU
CU
RAD
RAD
RAD
RAD
MQ
MQ
MQ
MQ
MQ
MQ
HS
HS
HS
AS
AS
AS
AS
AS
AS
OV
OV
OV
OV
OV
OV
OV
OV
OV
OV
OV
OV
OV
Col/Clar
G-VS2
F-VS2
G-VS1
F-VS1
H-VS1
G-VS2
G-VS1
E-VS2
E-VS2
F-VS2
G-VS2
F-VS2
F-VS2
E-VS1
G-VS1
E-VS2
G-VS1
H-SI1
F-VS2
G-VS1
E-VS2
G-VS2
H-VS1
G-VS1
H-VVS2
G-VS1
G-VS1
G-VS1
E-VS2
G-VS1
G-VS1
F-SI1
G-VS2
H-SI1
F-VS2
F-VS1
E-VS1
E-SI1
F-SI1
E-VS2
E-VS2
Polish
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
Symmetry
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
EX
Discount%
-96.60
-97.40
-98.10
-98.00
-98.00
-98.00
-98.10
-98.10
-97.75
-98.25
-98.00
-97.50
-97.40
-95.75
-96.90
-96.10
-97.70
-96.20
-96.70
-97.40
-97.60
-97.60
-98.05
-97.90
-97.80
-97.75
-97.70
-97.70
-97.20
-97.60
-97.60
-98.15
-98.10
-98.00
-98.00
-97.70
-97.70
-98.00
-97.40
-97.40
-97.40
Depth%
66.3
64.6
63.9
62.8
68.6
67.8
65.3
66.8
62.5
65.3
65.7
68.2
66.1
59.5
61.8
61.2
62.3
62.6
63.5
58.8
61.5
59.9
65.7
66.1
61.7
65.7
65.4
67.3
63.6
63.7
59.8
65.3
62.2
59.4
61.9
62.2
62.9
58.9
62.5
62.7
63.2
Table%
65
65.5
65
65.5
58.5
66
60
62
63
65.5
64
66
63.5
62
56.5
61
58
60.5
58
57.5
58
59
69
64.5
74
64.5
62
65
61
60
62
61
62.5
63
63.5
58.5
58
60
58
59.5
61
Total$
$10576.72
$8248.50
$5147.10
$5160.30
$663.00
$687.30
$659.68
$627.00
$398.25
$3953.25
$580.00
$459.20
$436.80
$11947.60
$3863.22
$3344.25
$1635.30
$1159.95
$1283.86
$854.36
$792.00
$709.92
$3495.86
$2669.10
$1783.21
$889.31
$859.16
$844.90
$7324.80
$5421.60
$3362.88
$1706.26
$1363.25
$1094.40
$1354.50
$1110.44
$1043.28
$566.82
$442.73
$490.88
$460.20
Weight
8.08
7.05
6.02
5.01
2.55
2.37
2.24
2
1.5
5.02
2
1.64
1.5
5.02
4.02
3.5
3.16
2.75
2.51
2.12
2
2.04
5.05
4.1
3.77
2.55
2.41
2.37
5.45
5.02
4.52
4.01
3.5
3.42
3.01
2.84
2.52
2.01
1.72
1.6
1.5
JEWELLERY
LOOSE DIAMONDS

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AUSTRALIA
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10
DSM DIAMO

0
NDS DPS

THERE’S ONE DESIRE ALL CONSUMERS
SHARE - PERSONALISATION
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY MARCH 2023
LAB-CREATED DIAMOND MARKET
BEHAVES UNLIKE ANY OTHER
HOW YOUR BUSINESS CAN BENEFIT
FROM THE MISTAKES OF OTHERS
MARCH 2023
MARCH Contents 2023
Contents
This Month
Industry Facets
15 Editorial
16 Upfront
20 News
30
33
56
10 YEARS AGO
Time Machine: March 2013
LEARN ABOUT GEMS
Tools of the Trade
MY BENCH
Greg John
35 PERSONALISED JEWELLERY
Individuality
4Modern jewellery consumers of all ages
and backgrounds seek one common thing -
the ability to express themselves through the
pieces they choose to wear.
Features
35
58
SOAPBOX
Joanna Park-Tonks
PERSONALISED JEWELLERY FEATURE
Self-expression is more appealing than ever
45
LAB-CREATED DIAMONDS FEATURE
Understand the impact of contradictory forces
Better Your Business
50
52
53
54
55
BUSINESS STRATEGY
How do you overcome an economic storm? GRAHAM JONES has the answer.
SELLING
KIZER AND BENDER continue their customer service master class .
MANAGEMENT
DAVID BROWN recommends you embrace the pressure of a new challenge.
MARKETING & PR
HEATHER COOPER explains the factors in play when selling to different demographics.
LOGGED ON
BRIDGET BROWN bids farewell to one popular social media channel.
45 LAB-CREATED DIAMONDS FEATURE
Prices declining,
demand rising?
4Jeweller consults a variety of lab-created
diamond market experts on the contradictory
nature of the market and how retailers are
reacting to these unique circumstances.
FRONT COVER ADVERTISER
Express yourself Contradiction Falling behind?
33 BACK TO BASICS
Tools of the Trade
4Learn from the experts about the most
important pieces of equipment used by
gemmologists in the field.
Based in New York USA, Essential Lab Grown
Diamonds Inc. is a premier supplier of loose labcreated
diamonds and has disrupted the lab grown
industry by serving as the price point leader in the
global markets. View realtime inventory lists
for jewellery basics and diamonds and access lab
diamonds as low as 98.50% off.
sanghavisolitaire.com/Home/DailySpecial
March 2023 | 13

Beautiful South Sea pearls, direct from the source.
T. +61 (8) 9284 4249 E. Atlas@AtlasPearls.com.au W. AtlasPearlsTrade.com

Editor’s Desk
We cannot direct the wind - but we can adjust the sails
The lab-created diamond market has once again found itself at a crossroads.
ANGELA HAN argues that the adage of ‘adapt or perish’ remains as relevant as ever.
Many influential minds have said that
adaptability is the most important
attribute of survival – it’s no different
in running a successful enterprise that
withstands the test of time.
Indeed, I’m reminded of what my mother
taught me growing up: ‘Be like the bamboo,
lithe and flexible – no matter how strong the
wind blows, it won’t break you.’
When you’re lithe, you can bend. From
businesses to industries, when you’re
‘flexible’ the storms can’t break you – the
gale forces only train your branches to
become stronger.
For example, did you know that Nokia began
as a pulp-and-paper company in the mid-
1800s, and following a merger in the 1960s,
added telephone and communications
equipment to its operations.
In the next 50 years, Nokia would blossom
into the world’s largest mobile phone
manufacturer. Could you imagine Nokia
as a paper company today?
And then came Apple – beginning as
pioneers of personal computers – and
subsequently overtaking Nokia’s market
dominance in mobile phones.
Apple is an example of identifying the wind
direction and then making bold and risky
‘sail adjustments’ in an unrelentingly and
fast-changing marketplace.
Doors of opportunity open for those who can
adapt, which then paves way for even more
opportunities.
With each passing year the diamond
industry has faced new challenges and the
need for adaptability has been pronounced.
Technology and improved manufacturing
capabilities have finally caught up with the
trade causing a huge shift created by labcreated
diamonds.
According to research from analysts
featured in this issue, lab-created diamonds
reached 10 per cent of all diamond jewellery
sales in the US in 2022.
It’s a significant milestone for an industry
given that it has been reported that labcreated
diamonds represented less than
2 per cent just five years ago.
It could be argued that COVID and Russia
invading Ukraine assisted this increase,
however; I’m sure you’ll agree when I say it’s
been a rapid rise nevertheless. And one that
should not be ignored!
Concerns about the world economy have
caused consumers to tighten their purse
strings and could be another reason why it
appears that the public flocked to cheaper
lab-created stones.
Radical adaptability
Demand continues to increase for labcreated
diamonds; however, prices continue
to fall. It’s a contradictory circumstance to
navigate for suppliers and retailers alike.
So, just how will this unusual dilemma
be resolved? We’ve spoken to a range of
industry pundits and most agree on one
thing – transparency. The industry needs
to communicate to consumers in an
honest and transparent manner.
While transparency is inarguable, or at least
should be, it’s one of the hottest talking
points not only in the jewellery trade but
indeed, the wider business community
– espoused and endorsed by many but,
unfortunately, often practiced by few.
For example, Australia’s Competition and
Consumer Commission (ACCC) recently
published the findings of a sweep of
businesses that practice ‘greenwashing’.
Unsurprisingly, a number of those
targeted in the review accused of making
misleading claims come from the fashion
sector, with the most issues pertaining to
‘environmental credentials’.
ACCC deputy chair Catriona Lowe advised
“this conduct harms not only consumers,
but also those businesses taking steps to
implement more sustainable practices.”
This message is emphasised by the
contributors to our latest lab-created
diamond analysis.
International Grown Diamond Association
president Joanna Park-Tonks, says retailers
need to market their jewellery in a way that
‘avoids denigrating’ natural diamonds.
She also highlighted greenwashing
specifically as an issue, something that
many lab-created diamond suppliers and
retailers can rightly be accused of.
Another contributor described transparency
between businesses and consumers
concerning lab-created diamond jewellery
as a ‘non-negotiable’.
It’s a pleasing commitment to the kind of
practices that are crucial in ensuring that
the public’s faith in such products should
continue to climb.
I’m reminded of
what my mother
taught me
growing up:
‘Be like the
bamboo, lithe
and flexible –
no matter how
strong the wind
blows, it won’t
break you.’
If they can do it, why can’t you?
Championing the importance of transparency
and clearer communication between
suppliers, retailers, and consumers is a
noble goal for these leaders of the diamond
industry, however, the same cannot be said of
a number of industry bodies.
In the past year, Jeweller has addressed the
failings of representative bodies to be upfront
and honest about their practices.
The World Federation of Diamond Bourses
(WFDB) has not been transparent on a
number of issues, including allowing its
members to make false claims.
To this day the WFDB continues to promote
a misleading ‘membership counter’ on its
website’s homepage.
The Responsible Jewellery Council
(RJC) faced a tidal wave of scrutiny after
demonstrating a complete failure to
communicate on simple and fundamental
matters during the fallout of the Russian
invasion of Ukraine.
Jeweller has reported a number of failures
by the RJC on matters of transparency
even though this international jewellery
organisation boasts about having a
“fundamental commitment to transparency
and accountability for progress”.
The Diamond Dealers Club of Australia –
a WFDB member - refuses to answer simple
queries about the membership base –
including the most basic question of all –
how many members do you have?
The Jewellers Association of Australia was
exposed for failing to disclose a commercial
relationship between two board members.
Let’s hope that this push for improved
communications by the lab-created
diamond sector proves to be an infectious
phenomenon – as it’s an area that the
jewellery industry at wide needs to improve.
After all, if we are unable to demand
transparency from our industry
‘representatives’ then by what right can we
expect suppliers and retailers to be honest
and forthcoming on sensitive matters?
And should these industry leaders fail to
change? Remember that ‘adapt or perish
is nature’s inexorable imperative.’
Angela Han
Publisher
March 2023 | 15

Upfront
#Instagram hashtags to follow
#pearls
7.6 MILLION POSTS
#opals
662,662 POSTS
#cabochon
1.9 MILLION POSTS
#statementring
492,100 POSTS
#horology
3.8 MILLION POSTS
Digital Brainwave
#bridalbling
39,230 POSTS
#isaidyes
3.4 MILLION POSTS
#ringstack
529,865 POSTS
#australianjewellery
125,943 POSTS
#australianopals
71,450 POSTS
HISTORIC GEMSTONE
Archduke Joseph Diamond
4The Archduke Joseph is a colourless,
cushion-shaped brilliant cut diamond weighing
78.54-carats that originated from India’s
legendary Golconda mines.
The diamond is named after Archduke Joseph
August of Austria (1872-1930) who is the first
documented owner of the gemstone.
August sold the diamond in 1936 to an
anonymous figure, believed to be a banker from
Europe, who reportedly kept the diamond hidden during
Germany’s occupation of France during World War II.
The Archduke Joseph wasn’t publicly seen again until 1961
when it was put up for auction in London, however, it was not sold.
It returned to the block again, this time in Geneva, in 1993 – fetching a
world record price ($US24.14 million) for a diamond sourced from the
Golconda mines.
OpenPay has called in
administrators, despite
reporting an active
customer base of more
than 347,000 users.
4Australian buy now, pay later (BNPL)
business OpenPay has collapsed, calling
in administrators and restricting customer
access to the service. Customers will no
longer be able to use OpenPay for new
purchases, but those with outstanding
balances will still need to pay their debt.
In January OpenPay reported an active
customer base of more than 347,000 users.
Like other BNPL services, OpenPay required
customers to pay a deposit on a purchase,
followed by a repayment plan that lasted
between 6-18 months.
Trend Spotting
4Heart-adorned clothes dominated
the spring and summer runways and
evidently, that style is set to be just as
popular in jewellery in 2023. There’s
been a 52 per cent increase in searches
for heart jewellery over the last 12
months according to Marie Claire.
Campaign Watch
Marie Claire, Hill House; Gold Heart Earring
Nike/Tiffany: A Legendary Pair, Tiffany & Co.
4Tiffany & Co has paired with Nike to
launch a pair of shoes with the iconic
‘swoosh’ appearing in the jewellery
retailer’s trademarked blue.
Pairs of the black suede AF1s - a design
which first emerged in 1982 - will be
sold at two Tiffany & Co New York City
locations and globally via Nike’s app from
7 March, priced at $US400.
Stranger Things
Weird, wacky and wonderful
jewellery news from around the world
Diamond seizures in Europe
4Diamonds valued at more than
$US55 million have been seized in a
series of raids in Antwerp, Belgium.
The diamonds have reportedly been
seized in an attempt to recover
debts owed following the collapse of
Eurostar Diamond Traders.
Eurostar Diamond Traders was
founded by Kaushik Mehta in 1978
and prior to its collapse in 2019, had
an annual turnover of approximately
$US1.6 billion.
Give those back!
4A parcel of 129,400 carats of rough
diamonds that have been at the centre
of a dispute lasting more than one
decade in Zimbabwe is to be returned
to UK miner Vast Resources. The
diamonds have been in custody of
the Zimbabwean Reserve Bank since
2010. Vast Resources is preparing to
sell the diamonds through a tender
after it receives a signed order from
the High Court of Zimbabwe. Formal
proceedings began in December, with
the court recently granting an order
against the Minister of Mines and
Mining Development.
Creating chaos jewellery
4Scientists from Italy have revealed
a method to turn chaos theory into
jewellery, according to a new paper
published in the journal Chaos.
“Seeing the chaotic shapes
transformed into real, polished, shiny,
physical jewellery was a great pleasure
for the whole team, ” said co-author
Eleonora Bilotta of the University of
Calabria. “We think it is the same joy
that a scientist feels when her theory
takes form, or when an artist finishes
a painting.”
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY
Published by Befindan Media Pty Ltd
Locked Bag 26, South Melbourne, VIC 3205 AUSTRALIA | ABN 66 638 077 648 | Phone: +61 3 9696 7200 | Subscriptions & Enquiries: info@jewellermagazine.com
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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
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
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
arising from the published material.

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News
Industry gains momentum as Melbourne Jewellery Expo successfully kicks off year
Despite some unfortunate weather on the opening
day, the Australian jewellery industry’s overall
sentiment appears positive following the Melbourne
Jewellery Expo (MJE).
The three-day event closed after running alongside
the Gift & Lifestyle Melbourne event and despite
the unseasonable wet weather, Expertise Events
general manager Zac Fitz-Roy was happy after a
busy weekend of trading.
“[The feedback] has been overwhelmingly
positive, exhibitors have overall been pleasantly
surprised with the on-site results, and with
orders predicted to flow for the coming weeks,
the results are looking strong. This year is
about the face-to-face contact and building and
maintaining relationships, it’s not always about
what is written on the day,” he explained.
“Buyers have found the event to be easily
accessible, in the heart of the city, and with a crosssection
of products that makes it worth the trip –
particularly for those in regional centres. Also given
some of the weather patterns the MCEC provides
undercover parking - these days that’s important!”
The Melbourne fair began in 2021 – during the
pandemic - and an important factor in its return
this year was the support of three of Australia’s four
major buying groups, with Nationwide Jewellers,
the Independent Jewellers Collective (IJC) and
Leading Edge Jewellers each running members
events at the Expo.
Fitz-Roy said it was great to see the buying groups
offering activities on the floor for all three days in
order to support members and suppliers.
Nationwide Jewellers managing director
Colin Pocklington told Jeweller that the MJE
presented an important opportunity to meet
with Victoria’s members.
“We are very happy with how the Expo has unfolded.
Foot traffic was much stronger on the Saturday
compared with the Sunday,” he said.
“With an organisation such as ours, you can’t
replace the value of working in-person with your
members. Jewellers are busy people! Many of
them work long hours managing their stores
while many others still work on the bench too,
completing orders.”
He continued: “Our members are always
preoccupied with the day-to-day of their
businesses and so we always do whatever we
can to make the most of these kinds of events
because you can always offer so much more
value to someone working face-to-face than you
could ever hope to offer with an email.”
Fitz-Roy added, “If anything the buying onsite has
been particularly encouraging. I think it’s also
important to note our role is to deliver and reach
the broadest range of retailers as possible.
“Being co-located with giftware as we have done
since 2021 means it’s convenient for country
retailers in particular.”
Something new for IJC
For Australia’s youngest group – the IJC – the
event marked an opportunity to introduce the wider
industry to the Gift and Homeware Collective, a new
buying group launched by CEO Josh Zarb.
“It’s been a really successful weekend – for us
taking part in this trade show was a no-brainer,”
he said. “Considering we’ve just launched the
gift group and we’ve got the jewellery fair taking
place under the same roof – it really was a onestop
shop.”
“I didn’t really set any firm expectations heading
into the event. On the jewellery industry side of
things, I knew who was going to be attending and
who I’d have the chance to speak with. From the
perspective of the giftware buying group, it was a
chance to gauge what the level of awareness was
and in that regard, I think it was even better than
what I was hoping for.”
Zarb added: “People have been very
understanding and engaged and enthusiastic
which is really good. We held two talks and that
was a great chance to bring people we’ve met
out on the floor around for a presentation that
really summarises what it is we are offering.”
Exhibitors
Sydney-based Greenwax offers computer-assisted
design to complete custom-made jewellery. The
company also recently partnered with Smartpro
and offers diamond testing equipment.
On offer was the chance to trial a new wireless
diamond testing device, which is able to
differentiate between lab-created diamonds,
moissanite, and diamonds in a matter of seconds.
Greenwax sales consultant Zvi Charlupski said, “I’m
very happy with how this fair has been. My intention
in coming here was to connect with some new
Victorian customers and I’ve done exactly that –
so what more could I ask for?
Gerrim International co-director Gerri Maunder
made the journey from Queensland to participate
in the MJE and said she was pleased with the
reception towards her products.
“It was much busier on Sunday than on Saturday
for us. We’ve had really positive feedback on our
products which we always do – Gerrim is always
very popular,” she said.
“We’ve had the chance to showcase our products
which is good and spent some time with our
regular clients which is important.”
Moving forward
From here the attention of the industry turns to the
Australian Jewellery Fair (AJF), taking place at the
International Convention Centre in Sydney’s Darling
Habour on 18-19 March.
The 2022 edition of the AJF was a sellout, much like
the MJE, and Fitz-Roy said that he hopes the event
would be able to build on the momentum of the
past year’s event.
“There is a lot of positivity in the market despite
general public concerns about the economy, and
anticipation is building as a result for the Australian
Jewellery Fair in March,” Fitz-Roy said.
“That meeting will give Sydney retailers the
crucial opportunity to come and restock after
Valentine’s Day and ahead of Mother’s Day.”
He continued: “I think despite what the
concerns about what may lay ahead people
are increasingly recognising that face-to-face
communication is crucial in this trade.
“For that reason, we are pleased to have not
only our March show coming soon, as well as
Australia’s original and number one event in
August – the International Jewellery Fair (IJF).”
The IJF is scheduled to take place 19-21 August.

News
It’s a sell-out: Industry mood
positive ahead of Australian
Jewellery Fair
Optimism following February’s retail analysis
Retail Edge’s latest analysis of sales
performance in Australian independent
jewellery stores has revealed positive
trends in February.
For the second consecutive year the Australian
Jewellery Fair (AJF) has sold out far in advance of
opening day.
The AJF will be hosted at the International Convention
Centre in Sydney’s Darling Harbour on 18-19 March.
The AJF has been timed to take place prior
to Mother’s Day (14 May), giving retailers the
opportunity to stock the latest ranges ahead of a
crucial period of trading.
Three major buying groups - Nationwide Jewellers,
Independent Jewellers Collective, and Leading Edge
Jewellers - will each host stands after a productive
Melbourne Jewellery Expo, which was also a sell-out
event. The GAA will also be at the event.
Expertise Events managing director Gary Fitz-Roy
told Jeweller that the most valuable thing available
at the AJF for suppliers and retailers alike would
be ‘opportunity’.
“We are thrilled to see such a high level of interest
in the Australian Jewellery Fair this year. We’ve
been anticipating a high turnout, but didn’t expect it
would sell out so quickly,” Fitz-Roy said.
“We are confident that the fair will provide a
valuable opportunity for retailers and sellers to
discover new ranges, to build connections, and to
reconnect within the industry.”
In terms of data January was curious, as
a decline in comparative average sale was
paired with an increase in overall sales
dollar performance.
February’s eagerly anticipated data shows
comparative overall sales dollar performance
finished in positive territory with an increase
of 1.6 per cent compared with 2022 and 7 per
cent on the two-year difference.
Meanwhile, comparative units sold showed
a decline of 3.7 per cent compared with 2022
and a decrease of 6 per cent on the two-year
difference.
Comparative average sales in inventory
recovered with a 6 per cent increase, reaching
$220 from $207. The difference was more
profound on the two-year comparison,
increasing by 16 per cent.
Retail Edge sales manager Mike Dyer said that
data from specific categories were particularly
noteworthy. “Looking at the performance
across product categories, the drill down into
the diamond-set precious metal jewellery
section shows sales dollars numbers were
down 21 per cent compared with February 2022
and 23 per cent on the two-year difference to
February 2021,” Dyer explains.
“Gemstone-set precious metal jewellery
shows sales dollars were down 5 per cent
compared with February 2022 and 1.1 per cent
on the two-year comparison. Precious metal
jewellery shows sales dollars were up at 13
per cent compared with 2022 and increased
21 per cent on the 2-year difference.”
Meanwhile, silver and alternative metals
jewellery sales dollars increased 4.3 per cent
compared with 2022 and improved 22 per cent
on the two-year comparison.
The pattern in laybys was flat with no
difference in dollar terms between new
orders and pickups or cancellations.
The pattern in services such as repairs
demonstrated a decrease of 20.5 per cent
in dollar values between new orders and
pickups or cancellations.
“Maybe it’s just a catch-up and your repair box
is looking a little more manageable and some
of those pre-Christmas or January intakes
are finally being collected,” Dyer said.
“If your repair box looks like it has a little
more space than usual it may be time to
chase up the outstanding quotes that haven’t
been confirmed yet and lift the marketing
exposure of your services expertise to lift the
volume of new intakes.”
He adds: “Remember it’s not just about
the repair job, it’s also the traffic flow and
the opportunity to strengthen the customer
relationship as well as sell product.”
Special order data likewise showed a flat
month with no difference in dollar terms
between new orders and pick ups or
cancellations.
Retail Edge’s analysis is based on data
collected from POS software located in more
than 400 independent jewellery stores.
Fitz-Roy explained that a new initiative had been
introduced for AJF: “The fair will also feature
free all-day catering, so retailers and sellers can
maximise their time and enjoy a free lunch. This is
just one of the ways we are working to make the
fair an enjoyable and productive experience for
everyone involved”.
For additional information or to register in advance
visit the Australian Jewellery Fair website.
MORE BREAKING NEWS
JEWELLERMAGAZINE.COM
March 2023 | 21

News
New reporting cycle for JAA, board position filled
The annual financial report is an opportunity for
the wider jewellery industry to gain insight into
the internal machinations of the representative
body which in recent years has suffered from
a consistent decline in membership and
subsequently, income.
Trollbeads headed for
regional Australia
The JAA’s statements for the previous financial
year would normally be lodged with the Australian
Charities and Not-for-profits Commission (ACNC) by
31 January of each year.
The Jewellers Association of Australia (JAA)
has changed its financial reporting cycle to a
calendar period, rather than the traditional
financial year.
The JAA’s statements for the previous
financial year would normally be lodged with
the Australian Charities and Not-for-profits
Commission (ACNC) by 31 January of each year,
however, president Joshua Sharp told Jeweller
that the reports are not due with the ACNC until
30 June this year.
“This is due to the fact that we are currently in
an 18-month reporting cycling as we changed
financial year reporting to a calendar year,”
Sharp explained.
The JAA advised members of the change in
September, noting a new reporting deadline
of 30 June.
He added, “In the future our [new] financial year
will end on the 31 December, with reporting to
the ACNC made by 30 June.”
“The JAA had approximately 400 members in
2022,” he advised.
These numbers would suggest that the trend
of declining membership has continued for the
JAA. Ten years ago the JAA had 867 members -
a position which has been in steady decline.
Although the statutory reporting has changed
Sharp was able to advise that the JAA’s profit to
30 June 2022 was “around $90,000”.
Sixth board member confirmed
Late last month the JAA appointed a sixth
director to the board, Daniel Anania of Sydneybased
Anania Jewellers.
“We are pleased to welcome Daniel to the
JAA Board. Daniel’s demonstrated experience
in business development and growth is an
attribute that I am keen to see contribute to the
growth and strength of the JAA,” Sharp said.
The JAA also confirmed a special resolution
to amend the constitution regarding the
composition of the board and the election and
appointment of directors was passed at the
AGM in November.
Apart from Sharp and Anania the current
board consists of Ronnie Bauer of Klepner’s
(by vice-president), Cameron Marks of
Percy Marks (treasurer), Jo Tory of Najo
and Meredith Doig, a professional company
director and governance consultant.
Trollbeads began in the 1970s in Denmark as a beadson-bracelet
product, offering customers the chance to
personalise the bracelet with interchangeable pieces.
Trollbeads has outlined additional plans for an
expansive return to the Australian jewellery market,
including a focus on regional communities.
The Danish brand was first launched in Australia in
2006 by a small local supplier (Webber & Tonkin);
however, after a number of different distribution
agreements the product failed to generate traction.
After a hiatus, Trollbeads Australia was launched
online in August of 2020 by business partners Jono
Gelfand and Mikkel Monberg. A physical store
was opened in October of 2022 on Chapel Street,
Prahan in Melbourne.
A new phase of expansion is now expected to occur
under the watchful eye of wholesale manager Eva
Engelaer, who joined the business in November.
Sales through the roof for expanding Lovisa
Fashion jewellery retailer Lovisa has reported
a 44.8 per cent increase in revenue for the first
half of the 2023 financial year.
Total sales reached $315.5 million while profit
increased by 48.4 per cent to $47.7 million.
In response to inflation, Lovisa increased prices
during the third quarter of the 2022 financial
year while also expanding into seven new
markets - Namibia, Hong Kong, Mexico, Italy,
Hungary, Romania, and Colombia.
A total of 86 new stores were opened including
39 in the US, which is now Lovisa’s most
significant individual market.
CEO Victor Herrero has come under public
pressure in recent months; however, in light of
these results he said Lovisa has created positive
momentum amid a turbulent economy.
“We are very pleased that we have been able
to increase the momentum of our store rollout
during the half, which has again delivered
us strong top-line sales improvement,
and combined with continued double-digit
comparable store sales has resulted in an
excellent financial result for the period,” he said.
“The company has been able to continue to
invest in the structures to support our global
expansion ahead of the growth curve while
continuing to deliver profit increases, which
leaves us well-placed as we move forward with
store rollout in both existing and new markets.”
Lovisa’s global store count is now 746 including
31 new stores opened in the second half of the
financial year to date.
“My aim is to see Trollbeads in jewellery stores right
across Australia, and my focus will be on regional
Australia - looking at one Trollbeads partner store in
every town,” Engelaer told Ragtrader.
“We can also be seen in a number of stores in
big cities such as Sydney, Adelaide, Brisbane or
Melbourne. I hope to build a family of dedicated
stockists who are really going to stock up on our
products and really work with the concept.”
Trollbeads began in the late 1970s in Denmark as
a beads-on-bracelet product, offering customers
the chance to personalise the bracelet with
interchangeable pieces. Both originating from
Copenhagen, Trollbeads pre-dates rival Pandora
by six years.
“The most important thing will be building a
relationship with these jewellers and that they join
in the Trollbead phenomenon,” Engelaer added.
Trollbeads operates in more than 50 countries
worldwide while remaining based in Copenhagen.
MORE BREAKING NEWS
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News
EST. 1981
GREAT WATCHES DESERVE
A GREAT WATCH BATTERY
Sales performance overcomes sluggish second half
Other issues such as the implementation of
pandemic restrictions in China were also cited as
reasons for sales struggles.
Australia’s largest
supplier of Seiko
watch batteries.
The De Beers Group has announced improved
sales for 2022 despite facing a multitude of
challenges in the second half of the year.
De Beers’ parent company Anglo American
reported that the revenue increased by 18 per
cent to $US6.62 billion ($AU9.71 billion) while
rough diamond sales increased by 22 per cent to
$US6 billion ($AU8.82 billion).
De Beers had a promising first half of the year as
retailers restocked diamond supplies following a
strong holiday period in 2021.
This strong start was later countered by a
revenue decline in the second half when interest
rates were raised in response to inflation.
“The first half of 2022 saw largely positive trading
conditions throughout the diamond pipeline,” a
statement released by De Beers reads.
“While the start of Russia’s invasion of Ukraine
and the imposition of related formal sanctions,
as well as self-sanctioning, on Russian diamonds
created uncertainty in the sector, healthy
consumer demand, particularly in the US, led
to polished price growth and robust demand for
rough diamonds in the first half of the year”.
The report continues: “De Beers’ focus on
enhanced provenance assurance for its rough
diamonds helped underpin solid demand.”
“This may be partly mitigated by an increase in
demand for diamond jewellery in China, following
the removal of COVID-19 restrictions in late
2022.”
This year De Beers’ production guidance has
been lowered to 33-30 million carats after
reaching 34.6 million carats in 2022.
De Beers is the world’s largest diamond mining
company and completes 10 sales cycles each
year. The company recently completed its
opening sales period for 2023.
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Reputations at stake as Russian diamond trade
survives economic sanctions
As debate continues to swirl around future
economic penalties expected to be implemented
against Russia in response to the invasion of
Ukraine, the impact of these sanctions has been
dramatically undermined.
According to recent reporting, Russian diamond
sales in Europe increased following the invasion of
Ukraine, despite retaliatory economic pressure from
the US, EU, and other western powers.
“The numbers — which have not yet been made
public — reveal that following the February 2022
invasion of Ukraine, Russia sharply increased
diamond exports to the EU (which includes Antwerp,
Belgium) as well as to two allies, Armenia and
Belarus. Exports to other countries dropped — and
in some cases, like the US, they ceased entirely,”
write Rob Bates of JCK Online.
“In the second quarter of 2022 (April through June),
Russian rough diamond exports were $US1.11
billion, compared with $US1.01 billion in the first
quarter of 2022, and $US1.09 billion in the second
quarter of 2021.
“No data was available for the third and fourth
quarters of 2022, though preliminary third-quarter
numbers also show an increase.”
Per the report, the figures are sourced from the
Kimberley Process. The US, Israel, Singapore, and
Switzerland received no diamond exports from
Russia in the second half of 2022.
Russia accounts for approximately one-third of the
world’s supply of rough diamonds.
Sara Yood of the Jewelers Vigilance Committee said
she fears for the reputation of the wider jewellery
industry.
“It’s not a good sign for the international jewellery
industry’s reputation and the greater cause of
democracy in Ukraine,” she said.
“I’m glad to see some direct reflection of the impact
of the US ban, but it just looks like those carats were
sent elsewhere, including a significant bump to the
EU. If I were the US and EU looking at this data, I
would be very concerned and even more motivated
to work on closing the substantial transformation
workaround pipeline that is allowing Russian
Federation diamonds to enter the US market.”
EU Commission president Ursula von der Leyen
recently confirmed plans to implement a new round
of sanctions prior to the one-year anniversary of the
invasion of Ukraine on 24 February.

News
Nationwide members ready for Antwerp
Australia’s largest jewellery industry buying
group, Nationwide Jewellers, will soon make its
next voyage to Belgium, the ‘heart’ of much of
the international diamond trade.
The tour is scheduled for March and will take
the group to the Antwerp Diamond Club, where
each member will have the opportunity to sit at
a cutting wheel and polish a facet on a piece of
diamond rough.
The factory specialises in cutting and polishing
and supplies many ‘high profile’ jewellers in
London, Paris and New York.
“Our members will be able to purchase diamond
rough in several qualities for use in window displays
and marketing,” said Nationwide general
manager Glen Pocklington.
“As we have done in the past, we will arrange for
the Kimberley certificates in order to have the
rough shipped back to our Australian and New
Zealand members.”
Approximately 85 per cent of the world’s rough
diamonds and half of the supply of polished
diamonds pass through Antwerp.
Nationwide has arranged trips to Antwerp since
1999 with more than 1200 participants taking
part to date.
“Our Antwerp marketing program continues to
deliver substantial additional diamond sales for
members, with the record for pre-sold diamonds
on a single trip standing at $224,000,” Pocklington
said.
Apprentice assistance to continue
Nationwide also recently confirmed that the
Apprentice Assistance Subsidy will continue for
a 14th year.
The Apprentice Assistance subsidy provides
Nationwide members’ apprentices with either
$400 in cash to put towards tertiary fees or a
$500 tools voucher.
The vouchers can be used to acquire tools from
Australian Jewellers Supplies (Australia) or G
& A Warburtons (New Zealand). Both suppliers
have sponsored the scheme since its inception.
“Based on this early response, we expect the
number of apprentices receiving support to be
close to last year’s 29 enrolments”, said Nationwide’s
membership manager Erin Keller.
“We are pleased to be able to assist so many
who are starting their careers in the jewellery
industry”.
Nationwide will also be hosting the Apprentice of
the Year skills competition with the winner to be
announced at the International Jewellery Fair on
19-21 August.
Nationwide serves 306 members (336 stores)
in Australia, with a further 69 members in New
Zealand and one in Fiji.
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News
Rumours suggest LVMH mulling
takeover of Richemont
After reporting a year of record-breaking profit revenue, rumours have
begun to circulate that French luxury conglomerate Louis Vuitton Moët
Hennessy (LVMH) is considering a takeover of rival Richemont.
LVMH recently reached a market capitalisation of €400 billion
($AU623.93 billion) for the first time and is the 13th most valuable
company in the world, overseeing 75 brands including Tiffany & Co,
TAG Heuer, Bulgari, Chaumet, Zenith, and Hublot.
Conversely, Richemont recently released a third-quarter report headlined
by struggling sales in China. Based in Switzerland, Richemont owns luxury
brands such as Baume & Mercier, Buccellati, Cartier, Montblanc, Piaget,
Vacheron Constantin, and Van Cleef & Arpels.
This week, Swiss newspaper Finanz und Wirtschaft reported that LVMH
founder Bernard Arnault is contemplating a takeover of Richemont.
“It’s still a little more than a whisper. But in the luxury industry, there is
whispered talk that Bernard Arnault, founder and CEO of French luxury
goods giant LVMH, wants to takeover Swiss competitor Richemont.
More specifically, he is said to be targeting Richemont’s industryleading
jewellery brand, Cartier,” writes Simone Stern.
Cartier is reportedly seen as a strong complement to LVMH’s recently
acquired Tiffany & Co. Per Richemont’s most recent financials, the
group’s jewellery brands increased sales by 8 per cent in the third
quarter, with the strong performance of Cartier, Buccellati, and Van
Cleef & Arpels noted.
Fourth quarter strategy successful
for Pandora
Pandora enjoyed a 9 per cent increase in revenue in the fourth quarter of
2022 amid strong demand for its lab-created diamond range.
The world’s largest mass-market jewellery brand reported an increase in
full-year sales of 13 per cent to $US3.82 billion ($AU5.53 billion), while profit
increased by 21 per cent to $US726.7 million ($AU1.05 billion).
According to CEO Andrew Lacik the key to these results was the success
of Diamonds by Pandora, a range featuring lab-created diamonds which is
now available in more than 260 stores in the US.
Featuring Swiss Quartz movement and elegant
white diamonds, Classique’s diamond range is
unique and luxurious.
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“We are convinced that the opportunity is vast. We believe the brand is ready
to be stretched with the category selling at 15 times the average selling
price from Pandora’s traditional US products,” Lacik said.
Sales in the US and the UK remained strong and outweighed a decline in
China which was attributed to ongoing issues with the pandemic. European
markets including Italy, France, and Germany, also declined due to
weakened consumer sentiment.
For 2023, Pandora’s most optimistic forecast is a sales improvement of
around 3 per cent, despite uncertainty around the economy and flow-on
effects on consumer demand.

News
‘Rational indulgence’ the key to
Watches of Switzerland success
Watches of Switzerland generated £402 million ($AU701 million) in revenue
while luxury watch sales specifically increased by 22 per cent to £340 million
($AU593 million).
Luxury watch retailer Watches of Switzerland reported a 17 per cent
increase in turnover for the quarter ending 29 January.
The company generated £402 million ($AU701 million) in revenue during
that period, while luxury watch sales specifically increased by 22 per cent
to £340 million ($AU593 million).
According to CEO Brian Duffy, high cost of living pressures and fears of
recession haven’t stopped customers from buying luxury watches. He
added that many customers increasingly view watches as investments
despite widespread uncertainty around financial markets.
“We call the category rational indulgence. Anyone who buys a watch has
the comfort of knowing the product is going to preserve value. I think that’s
the biggest influence for people buying watches.” he told the Evening
Standard.
“There was negative sentiment around in the UK and lots of difficulties
around industrial action, but our team managed to overcome that.
The company reported a 31 per cent increase in revenue in the opening
half of the 2023 financial year.
Duffy added that many of the top brands including, Rolex, Omega, Patek
Philippe and Zenith have raised prices since the beginning of the year by
an average of 4 per cent.
With more than 170 stores operating across the US and UK, Watches of
Switzerland stocks high-profile brands such as Rolex, Patek Philippe, and
TAG Heuer.
Significant increase in sales for Kering
Kering’s jewellery and watch divisions recorded an 18 per cent increase
in sales in 2022 according to recently published financial reporting.
The French multinational corporation oversees brands such as
Boucheron, Pomellato, DoDo and Qeelin and reported $US4.16 billion
($AU6.09 billion) in sales.
A spokesperson for Kering noted an increase in sales of 15 per cent
while profit increased 14 per cent to $US3.87 billion ($AU5.67 billion).
“Our jewellery houses once again achieved outstanding progress and
reached significant milestones,” the statement reads.
“Boucheron posted firm, steady increases, while Pomellato continued
to perform well in western Europe and Japan. Qeelin increased at a
rapid pace.”
CEO François-Henri Pinault noted that many of Kering’s brands posted
record revenue and contributed to higher total operating income in 2022.
Founded in 1963, Kering owns luxury fashion brands such as Gucci,
Balenciaga, Bottega Veneta, and Alexander McQueen.

News
Stolen Cambodian jewellery discovered in London
team, told the BBC that he became emotional
when first shown the jewellery.
‘Not your typical heroes’
theme of new collection
A treasure trove of Cambodia’s stolen Angkorian
crown jewellery was discovered in London within
the past two years according to investigating
authorities.
The collection included 77 pieces of gold and
gemstone jewellery, including crowns, amulets,
belts, and earrings. One item of note was a solid
gold bowl believed to be dated to the 11th century.
The items were discovered as part of an
investigation into British antiques smuggler
Douglas Latchford.
Latchford, who was a renowned expert and
dealer in Cambodian and Indian antiquities, died
in 2020 while awaiting trial in the US for charges
relating to smuggling.
Brad Gordon, the head of Cambodia’s investigative
“I was driven by a representative of the Latchford
family to an undisclosed location. In the parking
lot was a vehicle with four boxes inside. I felt like
crying. I just thought - wow - the crown jewels of
ancient Cambodian civilization packed into four
boxes in the back of a car,” he said.
According to reporting from the ABC experts
believe many of the items recovered were
looted during periods of war.
Cambodian minister Phoeurng Sackona said:
“The repatriation of these national treasures
opens a new era of understanding and
scholarship about the Angkorian empire and
its significance to the world.”
She added: “We consider such returns as a noble
act, which not only demonstrates important
contributions to a nation’s culture, but also
contributes to the reconciliation and healing of
Cambodians who went through decades of civil
war and suffered tremendously from the tragedy
of the Khmer Rouge genocide.”
The collection has been returned to Phnom Penh
and is scheduled to go on display in the country’s
national museum.
Pandora has released a new collection featuring
designs inspired by Marvel’s Guardians of the
Galaxy characters.
The Marvel x Pandora collection features five
charms and a ring with characters such as Star-
Lord, Groot, and Rocket in hand-finished silver.
“With Guardians of the Galaxy, we’re tapping into a
new world within the Marvel universe, continuing
the conversation about what makes someone a
superhero,” Pandora creative director Francesco
Terzo said.
“They aren’t your typical heroes, they’re outlaws -
so they don’t take themselves too seriously. To put
it simply: turn up your favourite ‘70s playlist and get
ready for a dance-off with lots of attitude”.
Pandora recently released its full-year financials for
2022, highlighting a sales increase of 13 per cent.
POSITION AVAILABLE IN DARWIN
BENCH JEWELLER
FOR SALE: READY-TO-GO BUSINESS + PROPERTY
BE YOUR OWN BOSS!
WORKSHOP + UPSTAIRS STUDIO APARTMENT
ABOUT THE ROLE
As a bench jeweller at Hoskings, you will be responsible for completing standard
jewellery servicing activities, in which you will continually receive training and
development opportunities to further enhance your knowledge and technical ability.
Day-to-day activities include, but not limited to:
• Resizing rings
• Casting clean-ups
• Claw work
ABOUT YOU
• Clean and polishes
• Laser claw re-tipping
• Diamond & stone setting
You will be a talented and capable bench jeweller with previous experience as a
jeweller. You will be highly organised, have strong attention to detail, and enjoy
working in a team environment.
ON OFFER
• Flexible working hours
• Supportive team environment
• Competitive remuneration
• Darwin lifestyle including spectacular sunsets, warm weather,
great fishing and outdoor activities
ABOUT HOSKINGS JEWELLERS
Hoskings Jewellers is a family-owned business in operation since 1945 with stores
in Victoria and Northern Territory.
At Hoskings we are committed to delivering high-quality services to the jewellery
trade. That means we focus on our customers and staff, continually investing in
our people and work environments.
IF YOU’D LIKE TO JOIN OUR TEAM, APPLY NOW:
hr@goldsmithjewellers.com.au
WHAT
DO YOU
GET?
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• Downstairs street-level workshop with a retail front
• Upstairs one-bedroom studio apartment
• Free street parking directly out front of store
sample
• Ready-to-go workshop included in sale of the business:
- Four working benches - Jewellers’ bench tools
- 3D Asiga Max printer - Casting facilities
- Puk welder and station - Ovens
Description:
Aluminium Composite Panel Signs
Free street parking directly out front - easy
for clients to drop in for design consultations.
JX5168 Mortgage Choice
Date: 11 / 11 / 15
Size: 830 x 2400mm [to be confirmed]
Qty: 2
RMJ’s is an established business of 25 years,
PLEASE NOTE: This proof has been produced according to your instructions. All possible care has been taken in producing this proof but ultimately the final responsibility of correctness rests with you (our client).
trading for 35 and run by Reid Jackson, an
Please check the proof and make sure that all the spelling and details are correct. Due to the nature of pdf proofs, responsibility will not be taken by The Digimen for colour issues resulting from Clients incorrectly
industry veteran of more than 45 years.
Keen to expand your business? There is
This is an opportunity for the buyer to live room to employ additional bench jewellers
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10 Years Ago
Time Machine: March 2013
A snapshot of the industry events making headlines this time 10 years ago in Jeweller.
Historic Headlines
4 No stopping $1 billion Swatch-Harry Winston sale
4 Brisbane jewellery fair buzzes
4 Leaked email could affect Tiffany case
4 Luxury health watch has celebrity appeal
4 Local supplier wins international award
Aussie jewellers win
international prizes
Two Australian jewellers took to the
world stage last week by winning the
Craftsmanship Award at the 2013
International Jewellery Design Excellence
(IJDE) Awards.
Martyn Brown and Martin Linning from
Queensland-based store Jewellery By
Design (JBD) won the award for their
jewellery piece “Undulation”. The awards,
which take place in conjunction with the
Hong Kong International Jewellery Show,
were announced at a gala event held in Hong
Kong last Tuesday.
Last year, the duo’s piece impressed judges
at the 2012 JAA Australasian Jewellery
Awards and was responsible for Brown and
Linning winning the Jeweller of the Year and
the CAD/CAM awards.
World first for Australian opal
In a coup for Australia, its national gemstone,
opal, has been named the “feature” gemstone
for the first-ever government supported
mineral, fossil and gem show in China.
The announcement was made yesterday by
the China (Changsha) Mineral and Gem Show
president Kong Sui, as part of a briefing to a
group Australian mineral, fossil and gemstone
professionals. Fittingly, the group assembled
at The National Opal Collection Showrooms in
Melbourne. A presentation also took place in
Sydney on Wednesday.
Sui was joined by president of the International
Coloured Gemstone Association, Wilson
Yuen. The two men were visiting the country
to promote, and hopefully attract, Australian
sellers and buyers to the show – which will take
place from 16 May to 20 May.
March 2013
ON THE COVER Guess
Editor’s Desk
413 reasons why retailers why are failing
“Outrageous rents, high staffing costs,
and competing with online retailers are all
important challenges for retailers today.
But, dare I say, the greater challenge I
believe is to manage your staff to focus on
the customer every minute of every day
of every week. Achieve that and the other
challenges become less important and
might even disappear.
Customers used to have no option
other than to put up with ill-trained
staff, bad customer service, and poor
management, but the internet fixed that.
Customers have become less tolerant
of the way stores are managed, and they
simply walk.”
Soapbox
4 It’s time to adopt a mark of quality
and consistency
“If consumers are distrustful, they will
buy elsewhere, like overseas, or even
buy other non-jewellery items instead.
But if we can regain their trust by
keeping to a standard, by consistently
providing top quality product, then
they will feel they are still getting value
for money and our sales will grow.”
Anita Kornmehl – Peekays Findings
STILL RELEVANT 10 YEARS ON
Listen up and sell more
“The notion of loss or missing out is a
bigger influence on humans than the
thought of gaining something. Promote
what is unique about an item and what
the consumer will miss out on by not
taking the deal to compel shoppers to act.”
Samsung fires shot in
smartwatch war
South Korean technology giant Samsung has
confirmed it is making a smartwatch, with
some analysts suggesting it could have a
price point below $200.
Samsung mobile vice president Young Hee
Lee told online news agency Bloomberg: “We
are working very hard to get ready for it. We
are preparing products for the future. The
watch is definitely one of them.”
For some time pundits worldwide have
speculated that technology game-changer
Apple would be launching an “iWatch” product
at any tick of the clock, which the company has
neither publicly confirmed nor denied.
Diamond guild competition
opens
Organisers are expecting a record number
of entries for the biennial Diamond Guild
Australia Jewellery Awards.
Established in 2005, the national jewellery
design competition celebrates excellence in
Australian diamond jewellery and is open to
all designers and jewellers working within an
Australian retail jewellery company, with one
special requirement - all entries must feature
natural diamonds.
Sponsored by the Diamond Guild Australia, the
guild’s executive officer Melissa James told
Jeweller, “We are anticipating a record number
of entries in a broader range of categories.
“We will be expanding from five to seven
categories with a supreme winner to be
selected from the winners of each category.”
READ ALL HEADLINES IN FULL ON
JEWELLERMAGAZINE.COM
30 | March 2023

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Behind every gemstone,
there is a fascinating story
waiting to delight clients
around the world. Studying
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career in a multimilliondollar
industry. Joining
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Gemmologist and Diamond Technologist
Diamond
Courses
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Advanced Practical Diamond Grading
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Passionately educating the industry, gem enthusiasts
and consumers about gemstones

REVIEW
Gems
Tools of the trade: Part 1
L to R: Gemmologist using a dichroscope | Shutterstock; hand loupe
Like many scientific practices, gemmology
relies on various specialty instruments to
measure and assess properties.
Of particular interest is the way in which light
interacts with a gemstone, and it’s the study of
this phenomenon which is most often the focus
of testing.
When examining an unidentified gemstone,
it is the gemmologist’s job to interpret and
then translate these readings in pursuit of
understanding. From there, the gemmologist
may piece together the clues they offer to
determine which classification the gemstone
they are examining belongs to.
The Loupe
The simplest and most utilised tool is the hand
lens, otherwise known as the loupe.
These first lenses were certainly simple
compared to today’s modern marvels.
The first that can be directly traced to
modern tools was a surgical loupe with two
lenses created in Germany in 1876, used for
medical surgery.
Since then, loupes have been widely
used in the medical field for both surgery
and dentistry, as well as by the gemmology
community. Though many types are
available, the most common is the 10x
triplet.
These convenient, handheld tools magnify an
object 10x, allowing the observation of features
often invisible to the naked eye.
This is essential for examining characteristics
such as the quality of faceting work, searching
for any damage or wear, inclusions within the
gemstone, reading laser inscriptions and more
fine detail. This is the one tool a gemmologist
will always have on them when working, as a
minimum.
As a rule of thumb, the clarity grading of
diamonds is determined by the visibility of
inclusions under the 10x hand lens.
When it comes to variety, hand lens’
vary greatly in price and quality. For all
gemmologists, it is well worth investing in
a premium hand lens in order to reduce eye
strain and ensure no details are missed or
overlooked when inspecting gemstones, as
this can always be costly later!
Along with a quality hand lens, a sturdy pair
of tweezers is a must. It’s important that
gemstones are handled with care, as untrained
handling with tweezers can lead to chipping
and damage.
The Dichroscope
Also in the realm of compact tools, the
dichroscope provides a test to separate
gemstones such as sapphire and spinel,
garnet and tourmaline, and more.
The dichroscope is, described very simply, a
rhomb of optical calcite, otherwise known as
Iceland spar, within a tube with glass prisms
on each end. Essentially this little tool gives
a clear picture of a gemstone’s pleochroism –
this is the different colours the gemstone may
show when viewed in different directions.
Given colour is key with the dichroscope, it
cannot be used on colourless material or with
any gemstones that are too light in colour to
distinguish clear differences.
When a gemmologist looks through the viewing
window there are two little squares visible. If
the gemstone has pleochroism, the squares
will be two different colours in most directions
so long as the gemstone is doubly refractive.
In singularly refractive gemstones, only one
colour will be seen in both squares regardless
of how much you turn and view the stone.
This is useful as you can separate doublerefractive
gemstones such as sapphire,
It’s important
that gemstones
are handled
with care, as
untrained
handling
with tweezers
can lead to
chipping and
damage.
tourmaline, zircon, and iolite, from
singularly refractive gemstones such
as spinel, garnet, and fluorite.
In addition, gemstones that are dichroic,
meaning they show two pleochroic colours,
can be separated from trichroic gemstones
– those that show three.
Like most gemmological instruments it is
only with the theoretical understanding of
how light interacts with gemstones that one
can make sense of what is being observed
in the dichroscope, making education in
gemmology the essential component that
ties the information together.
These aforementioned few instruments are
often found together in the tool bag of the
field gemmologist and given their compact
nature are each easy to use and versatile.
But what about inclusions? Refractive
indices? The density of differences between
minerals? Each individual instrument can
provide a great deal of information, but
so often only in collaboration with other
instruments. One must always remember
that being a gemmologist means
investigating how these tools provide the
information we must piece together to
form the bigger picture.
In the next issue of Jeweller the
examination of a gemmologist’s triedand-true
tools of the trade continues
with part two.
Mikaelah Egan FGAA Dip DT
began her career in the industry at
Diamonds of Distinction in 2015. She now
balances her role at the Gemmological
Association of Australia with studying
geology at the University of Queensland.
Visit instagram.com/mikaelah.egan
For more information on gems and
gemmology, go to www.gem.org.au
March 2023 | 33

INTERCHANGEABLE

FEATURE
Personalised Jewellery
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By its very definition, personalised jewellery offers something
for everyone. SAMUEL ORD explores the increasing enthusiasm
consumers of all ages have for personalised jewellery.

Personalised Jewellery | HOW DO YOU LIKE IT?
L to R: Pandora; Thomas Sabo; Meira T; Thomas Sabo
If there’s one thing that jewellery retailers
large and small can agree upon it’s the desire
for personalisation by modern consumers.
In a time where individualism is lauded culturally - most
notably in ‘western’ societies - it should come as no
surprise that jewellery consumers continue to seek
personalisation.
Whether the category is fine, fashion or otherwise,
jewellery has always allowed people to express their
personality.
However now, with increasing production capabilities and
an ever-expanding variety in range, more consumers than
ever before are turning to jewellery for self-expression.
Jewellery Group CEO Mudit Vora manages the operations
of chain stores Mazzucchelli’s and Zamels, overseeing
more than 60 stores in Australia.
Vora says that despite the two brands catering to different
consumers, certain patterns in consumer behaviour are
abundantly self-evident.
“Trends have certainly changed recently with a lot more
customers wanting something unique and personalised,”
Vora tells Jeweller.
“Social media trends have had a huge impact on jewellery
retail, especially with product trends. Jewellers these
days need to be quick in ensuring they can move with the
market.”
Similar observations are made by Seb Brown, a specialist
in customised jewellery featuring birthstones, gemstones
and engravings and the owner of Seb Brown Jewellery,
based in Melbourne.
Brown says that any retailer hoping to forge a longterm
connection with young consumers should explore
personalisation in jewellery.
K E Y STATS
Gen Z’s
Preferences
89%
Percentage of
Gen Z consumers
who use visual
communication when
messaging friends.
88%
Percentage of Gen
Z consumers who
are interested in
using a ‘virtual
try-on’ for fashion
products.
59%
Percentage of Gen
Z consumers feel
that ‘augmented
reality’ programs
make them feel
more connected to a
brand or product.
Source: Snap Inc Study
“Our youngest customers are always searching for
something unique and personal. Almost all of our
customers request a custom piece,” he explains.
“I have definitely seen a strong desire for birthstone rings
and engraved pieces as of late.”
Brown continues: “In particular, younger consumers
are constantly bombarded with imagery, advertising and
products. They’re much more discerning, with a finely
honed sense of style.”
This sentiment has been echoed in the experiences of
jeweller Kate Webster of Kate Webster Jewellery Designs.
Webster specialises in creating customised jewellery with
gold, diamonds, sterling silver, gemstones and pearls.
Whether the category is fine, fashion or otherwise,
jewellery has always allowed people to express
their personality.
After more than two decades in the industry, Webster
says one thing is for sure – consumers of all ages love
personalisation.
“I believe that everyone wants at least one unique piece of
jewellery, something that’s truly for them,” she says.
She adds: “No matter the style or personal preference,
the appeal of personalised jewellery is universal.”
The benefits for retailers offering personalised jewellery
go beyond merely meeting the desires of contemporary
customers which, as Vora acknowledges, can change
quickly.
Personalised jewellery encourages customers to commit
long-term devotion to a business or brand as the identity
of the wearer becomes intimately interwoven with the
jewellery itself.
36 | March 2023

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Established in 1976, the above Faces was the very first
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From bracelets and neckalces to rings and earrings -
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Trollbeads are made with a blend of new and ancient
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Each piece in the Trollbeads collection has its own
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‘Faces’ - 1976, The First Trollbead
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Personalised Jewellery | HOW DO YOU LIKE IT?
L to R: Thomas Sabo campaign; Rosefield campaign, locket and zodiac bracelet; Pandora campaign
Indeed, modern consumers can be fickle. It
doesn’t take significant insult or encouragement
for a customer to abandon a business or brand.
Three-quarters of consumers recently surveyed
by McKinsey & Company admitted to switching to
a new store, product, or buying method during the
pandemic.
The research also indicates that consumers
associate personalisation in products with positive
experiences of being made to feel special.
Personalised jewellery encourages customers
to commit long-term devotion to a business or
brand as the identity of the wearer becomes
intimately interwoven with the jewellery itself.
They respond positively when businesses and
brands demonstrate their investment in a
relationship beyond an immediate transaction.
Market leaders
Pandora remains the world’s leading massmarket
jewellery brand and it’s no secret that
personalisation has played a key role in the
Danish company’s many successful ventures.
Pandora operates more than 6,400 stores
worldwide and in 2022 achieved a full-year sales
increase of 13 per cent to $US3.82 billion.
David Allen, Pandora’s Pacific and Greater Asia
managing director, says Generation Z holds a view
of personalisation in fashion and jewellery that
differs from those that came before them.
“When we think of personalised jewellery we think
engraving, initials, birthstones, and so on. This
type of jewellery has a place in the assortment for
shoppers of all ages,” Allen tells Jeweller.
“Gen Z however are looking for expression of
their individual identity. This relates to the
physical product as well as in alignment of
values with the brand.”
Allen says that the Pandora Me collection is an
example of a curated style targeting Gen Z.
Fully customisable, the collection offers the ability
to build a bracelet, necklace, earring and ring
stack to suit individual style and self-expression.
Charms are the gift that keeps on giving for
Pandora, making up around 70 per cent of
global earnings. Pandora estimates that it
sells 10 million charm bracelets annually.
Charm bracelets create a crucial dynamic
between the brand and the customer – a
provocation for repeated visits to physical or
online stores and ultimately, a recurring revenue
stream.
Allen continues: “It’s as important to have a
personalised product offering as it is to have
personalised and customisable experiences.”
“When it comes to customisation, Gen Z expect
brands to send them communications that they
can customise based on their preferences.”
Aspirational in nature
Pre-dating Pandora by six years is rival
Trollbeads, which recently celebrated the twoyear
anniversary of its Australian re-launch.
Trollbeads pieces are made from a variety of
raw materials including gold, silver, Italian glass,
pearls, amber, and other precious gemstones.
In 2001 glass beads were introduced.
CO-CEO Jono Gelfand tells Jeweller that the
increasing enthusiasm of younger consumers for
personalised jewellery has been something that
captured his attention.
“We were debating this very topic recently –
wondering why a young person would be attracted
to jewellery that’s very sentimental in nature?”
“Trends have certainly
changed recently with
a lot more customers
wanting something
unique and personalised.”
“Our youngest customers
are always searching for
something unique and
personal. Almost all of
our customers request a
custom piece.”
“I believe that everyone
wants at least one unique
piece of jewellery,
something that’s truly for
them.”
“It’s as important to
have a personalised
product offering as it is
to have personalised and
customisable experiences.”
Mudit Vora
The Jewellery Group
Seb Brown
Seb Brown Jewellery
Kate Webster
KW Jewellery Designs
David Allen
Pandora

Above: Nomination Italy
Gelfand explains.
“The conclusion we came to was that our younger consumers are
creating an aspirational product in order to manifest future events
in their lives.
He concludes: “While our older customers are using the bracelet
as a way to preserve memories, our younger customers are using
it creatively to bring them into fruition.”
Webster agrees with Gelfand’s conclusion and says that beyond
questions of style and design, the factor that matters most in the
appeal is the ability to express individual style.
1/2 PG V
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“Everyone takes a different approach with personalised jewellery.
For the younger generation it’s something to put on display as a
showcase of your unique personality and style,” Webster says.
“Whereas for older consumers, it might be something discrete,
such as an engraving on the inside of a closed locket.”
Webster’s personalised collection includes disc pendants, bracelets,
disc rings, bar necklaces or letters symbolising loved ones, personal
accomplishments or cherished memories.
“The ‘bracelet model’ in terms of customisable jewellery is still
meaningful for the generation that committed to the design, be
it Pandora, Trollbeads, or something bespoke,” she says.
“I’ve noticed a big shift and I think necklaces are coming back now.
The key is for the product to be ‘fine and dainty’. Heavier pieces and
products just don’t have the same appeal.”
“While our older customers
are using the bracelet as a
way to preserve memories,
our younger customers are
using it creatively to bring
them into fruition.”
Jono Gelfand
Trollbeads
“Engraving as a way to offer
personalisation appeals to
all generations, and with the
way engraving and laser cut
jewellery has become more
accessible, this is likely to
increase..”
Melanie Fogarty
Beyond the Willow Tree

Personalised Jewellery | HOW DO YOU LIKE IT?
L to R: Pandora campaign; Nomination Italy campaign, Qudo
Personalisation at heart
There’s little debating that one of the most
significant success stories in terms of
personalised jewellery in Australia and
internationally is Thomas Sabo, namely via the
Charm Club Collection.
Thomas Sabo arrived in Australia in 2006 via
Duraflex Group Australia with a design epitomised
by a carefree and fun-loving mood, encouraging
the creation of individual looks with layering and
stacking.
Thomas Sabo UK managing director James
Parker tells Professional Jeweller says that
every new release is designed with the theme of
personalisation in mind.
“It may come in the form of multiple earrings
styled on one ear, a collection of charms, a ring
stack or even a personal message on a unique
jewellery design,” he says.
“Personalisation and self-expression are at the
heart of the Thomas Sabo jewellery collection.
Over the past 12 months, we have focussed even
more so on our people, our product, and the
presentation of our brand.”
Extreme examples
When it comes to personalisation in jewellery,
it doesn’t come much more personal than the
products offered by Beyond The Willow Tree.
Founder Melanie Fogarty specialises in
handcrafted jewellery designs such as
cremation ashes, breast milk, hair, umbilical
cords, placentas, and other human and animal
elements.
Fogarty tells Jeweller that her products tend
to appeal to a more mature audience; however,
added that engraving was popular across all
demographics.
“It’s a fascinating question isn’t it – how do you
define personalised jewellery?” she says.
“In our experience and what we have seen in the
way of demographic, I feel that those 25-years-old
and hold more sentiment for one-of-a-kind or
custom-made bespoke pieces.”
She concludes: “This may have more to do with
the stage of life they are in, over which generation
they were born.”
Charms are the gift that keeps on giving for
Pandora, making up around 70 per cent of
global earnings. Pandora estimates that it sells
10 million charm bracelets annually.
Webster agrees with Fogarty and says that life
experience is crucial in a hypothetical customer’s
selection of personalised jewellery.
“We offer a range of bracelets that has really been
popular with young mothers in particular, there’s
something very appealing about jewellery which
showcases the experience of motherhood as a
point of great pride,” she says.
“Laser engraving on discs or on circular plates
has been popular as of late, and letters, in
particular, have been popular this year after being
particularly highly sought after in 2022.”
Fogarty adds: “Engraving as a way to offer
personalisation appeals to all generations, and
with the way engraving and laser cut jewellery
has become more accessible, this is likely to
increase.”
Moving forward
Brown, Fogarty, Webster, and Gelfand all
highlighted a belief that personalised and
customised jewellery will continue to increase in
popularity as time goes on.
“I strongly believe that demand will increase as
new ways to wear and personalise jewellery will
evolve over time and continue to become easily
accessible,” Fogarty explains.
“As humans, we look for ways of expressing our
emotions or lived experiences through physical
items we can hold onto, and perhaps pass on, and
jewellery perfect in that regard.”
Webster points out that as a consumer ages
their preferences change; however, emerging
demographics historically fill the void left by those
who age out of ‘loud and proud’ design.
“Every generation brings something new to the
table in terms of unique fashion and individuality
in design and I see no reason for that to change
any time soon,” she says.
“Particularly as jewellers are able to do more and
more with emerging technologies, that desire for
individual creativity and expression only becomes
stronger.”
Gelfand insists that long into the future combining
quality materials and design with personalised
appeal will continue to be a winning recipe for
retailers.
“The key to forging a long-term connection with
your younger customers comes down to the
quality of your products,” he reveals.
“Many of our sales associates are young and
whenever we get a new delivery they all rush over
the boxes and rip them open to take a look at the
42 | March 2023

NE W DEFINITIONS
SIGNED, SEALED DELIVERED
Defining personalised jewellery is a notoriously complicated
subject! In 2018, Jeweller attempted to create a standardised
definition and divided the term into five key categories:
» CUSTOMISED
Allows the wearer to customise a piece featuring separate
components to their own style using a selection of interchangeable
elements such as beads, charms, interchangeable rings, and more.
Thomas Sabo Pandora Nomination
» INDIVIDUALISED
Jewellery that comes with the opportunity to add a unique feature such
as a name engraving, personal message, or fingerprint, for example.
Mateo Ubykate Thomas Sabo
» CUSTOM-MADE / BESPOKE
Unique jewellery which allows the wearer to dictate the exact
specifications of a piece, such as the choice of gemstone.
1/2 PG V
ADVERTISEMENT
Matthew Ely Seb Brown Jewellery Victoria Buckley
» ONE-OF-A-KIND
Custom-make jewellery features at least one unique element that
differentiates it from any other existing piece.
LJ West / Scott West
Muzo x Glajz
Calleija
» SENTIMENTAL
Jewellery which is unique to the wearer’s character, for example,
Zodiac or birthstone pieces.
Luxury Pearl and Opal Jewellery
Briony Raymond
Michael Hill
Logan Hollowell
+61 2 9266 0636
enquiries@ikecho.com.au
www.ikecho.com.au

Personalised Jewellery | HOW DO YOU LIKE IT?
Featuring the delicate pink tone of
Argyle pink diamonds
L to R: Rebus Signet Rings
new designs.
“That kind of enthusiasm is only possible because they really
appreciate the design and quality.”
1/2 PG V
ADVERTISEMENT
Brown agrees and says that enthusiasm for quality products and
design is a trait shared by consumers of all ages.
“I have seen a general uptick in customers really considering a
purchase, and perhaps saving up for many years to buy a piece which
they will cherish forever,” he says.
“Younger customers are more likely to have done significant research
and know exactly what they want.
“Older customers might prefer a style that’s a little more ‘traditional’;
however, the emphasis is always on quality materials.”
Every generation brings something new to the table in terms of
unique fashion and individuality in design and I see no reason for
that to change any time soon.
Going beyond products
Pandora Club Members were recently asked if they did or did not want
to receive correspondence promoting Mother’s Day related campaign
material.
It was a move which aimed to acknowledge the ‘sensitive nature’ of
the occasion for some. Allen says that approach exemplifies Pandora’s
approach to personalisation.
“Personalisation is about delivering content, product and services that
match the lifecycle of the consumer, and using prior interactions to
determine and anticipate what the consumer is going to do next,” he says.
“It’s as important to have a personalised product offering as it is to
have personalised and customisable experiences.”
Personalised and customisable jewellery ties the identity of the
customer to the products they wear and in doing so, forges a longterm
connection between the business and the individual that goes far
beyond the simple days of a single transaction.
For your business, a move towards a more personal offering today
may well be the start of a fruitful relationship which lasts a lifetime.
Become a stockist today 02 9290 2199

FEATURE
Lab-Created Diamonds
LAB GROWN
(HERO)
THE ULTIMATE
CONTRADICTION
Lab-created Diamonds
Vrai
Is your glass half-empty or is it half-full? SAMUEL ORD explains how decreasing
prices for lab-created diamonds may prove to be a positive for the category.

Lab-Created Diamonds | THE ULTIMATE CONTRADICTION
Jean Dousset’s Oui
W
hen it comes to market behaviour few
products seem as contradictory as labcreated
diamonds.
Whether the source is international experts or Jeweller’s
own research, demand is increasing and consumer interest
continues to rise.
At the same time, prices are declining and as a result,
confusion about the future of the category continues to
spread.
Edahn Golan of Tenoris and Edahn Golan Diamond Research
and Data says that alongside the fallout of the conflict in
Ukraine, the falling price of lab-created diamonds has been
heavily discussed.
“Polished lab-created diamond prices are falling
continuously. Across the board, from lab-created rough
diamond prices to retail prices, the movement is south,”
Golan says.
“A number of factors contributed to this large decline. One
factor has to do with the improved technologies in producing
lab-created diamonds. It is easier now to produce larger
rough, making them more prevalent.”
Golan adds that large polished lab-created diamonds are
following the same cost and price trajectory that smaller
goods have historically followed.
That is to say that as rarity declines, there is increasing
pressure to lower prices.
“Price pressure has to do with one of the basic tenets of labcreated
diamond positioning: ‘we are cheaper’,” he says.
“It follows that consumer expectation is that prices will
be low, and window shopping will become a search for
the lowest price.”
Power
According to research conducted by Paul Zimnisky Diamond
Analytics, lab-created diamonds accounted for approximately
10 per cent of diamond jewellery sales in the US in 2022.
Improvements in manufacturing technology, competitive
pricing, and successful marketing campaigns centred around
‘sustainability’ each helped the category gain traction.
It’s a dramatic rise from a category that occupied just 2 per
cent of sales as recently as 2018, despite pushback from the
mining and established luxury goods sector.
Now, luxury jewellery retailers are cautiously embracing labcreated
diamonds and experimenting with more accessible
pricing of products.
Industry analyst Paul Zimnisky says that despite the
momentum, the very nature of the product means that there
are market limitations as far as pricing is concerned.
“Lab-created diamonds are a manufactured product and
SYNTHE TIC SPARKLE
Lab-created
diamond facts
$15.9b
The projected value (USD)
of the lab-created diamond
market in 2027
10%
Percentage of diamond
jewellery sales in the US
featuring a lab-created
diamond in 2022
80%
Percentage of international
demand for lab-created
diamond jewellery coming
from the US market
2005
The year the International
Gemological Institute
first graded lab-created
diamonds - the first lab to
offer such services
$100m
The initial investment
(USD) from the De Beers
Group for the launch of
Lightbox Jewelry in 2018
36%
Percentage of engagement
rings with a lab-created
diamond centrestone in
the US in 2022 according to
a survey by The Knot.
generic manufactured products fundamentally do not have
pricing power,” he tells Jeweller.
“I think this dynamic is especially acute when we are talking
about a product that is in a more mature stage of its product
life. Lab-created diamonds have a novelty now, but that will
inevitably wear off.”
Zimnisky says that like many other industry analysts, he’s
aware of some retailers becoming less motivated to sell
lab-created diamonds due to the decline in prices.
Improvements in manufacturing technology,
competitive pricing, and successful marketing
campaigns centred around ‘sustainability’ each
helped the category gain traction.
“I would say some - not necessarily ‘many’ - retailers
are rethinking the way they sell lab-created diamonds as
it pertains to selling them interchangeably with natural
diamonds.
“Personally, I think it is in a retailer’s best interest longer-term
to sell either one or the other, but not both, and especially not
both side-by-side.”
Side-by-side?
Zimnisky’s view that retailers should choose either one or
the other when it comes to ‘natural’ diamonds and labcreated
diamonds is not a perspective shared by all.
Joanna Park-Tonks is the president of the International
Grown Diamond Association, stepping into the role and
replacing founder Richard Garard in December.
“My issue with much of the current discourse is that infers
that the mined diamond category must be defended from the
onslaught of the lab-created diamond segment, which is not
the case,” she tells Jeweller.
“Presented correctly - in other words honestly, accurately
and transparently - retailers stocking both can boost revenue
by offering lab-created diamonds as an additional category.”
Park-Tonks says that the introduction of lab-created
diamonds must be viewed as an expansion and not a
contraction of the category.
She agrees that retailers are hesitant; however, she attributes
their position to the economic climate following a two-year
global pandemic.
“Some hesitancy on the part of the retailers is only natural as
they seek to recover their trading positions post-pandemic,”
she says.
“Increasingly, we are seeing that retailers have increasing
confidence in the lab-created segment, as consumers
increasingly expect and explicitly ask for this category.”
C
M
Y
CM
MY
CY
CMY
K

FP
ADVERTISEMENT

Lab-Created Diamonds | THE ULTIMATE CONTRADICTION
Courbet
Ada
Kimai
Anabela Chan
Glamira
Aakash Jobanputra, partner of Essential Diamonds, agrees
that retailers are facing significant pressures and yet
maintains that there is still room for expansion.
“The dropping prices of loose diamonds has been a battle
and a headwind that many wholesalers and retailers have
been facing,” he explains.
“In order to innovate in the industry many people are
pivoting and shifting the mix in this category where
margins are more stable and prices can be sustained to
the end consumer.”
He adds: “While consumers are getting smarter, there is
still room for retailers and wholesalers to increase their
market share in the jewellery space.”
On the topic of selling lab-created diamonds and natural
diamonds together or separately, Jobanputra says there’s
no ‘one-size fits all’ solution.
“I don’t think there is one set recipe when selling labcreated
diamonds alongside natural diamonds,” he says.
“I think transparency between businesses and the
consumer is a non-negotiable for us and we should be
doing our part to educate the consumers that are buying
lab-created diamonds.”
“With that said, I think educating the customer and
making sure they know that a lab-created diamond is
a real diamond with the same properties as a ‘natural’
diamond is important.”
Park-Tonks echoed this sentiment and says that
what matters more for any hypothetical retailer is
understanding specific market conditions.
“Each retailer should take their own localised approach
which will be appropriate to their customer profile and
operating conditions,” she says.
“Of course, further homework must be done in terms
of developing marketing and offering creative visual
merchandising that presents the respective positives of
each category.”
Movers and shakers
Major jewellery brands such as Pandora have continued to
expand their offering of lab-created diamond jewellery in
the past year.
The Diamonds by Pandora collection was available in
August last year to more than 250 US stores and CEO
Alexander Lacik declared that the collection represented
an important evolution.
“The future of luxury is here today. Lab-created diamonds
are just as beautiful as mined diamonds, but available to
more people and with lower carbon emissions,” Lacik says.
E XPERTS SAY
Clearing
Contradictions
Joanna Park-Tonks
International Grown Diamond
Association
“From its inception, labcreated
diamonds have
been a consumer-driven
phenomenon. Retailers would
be best advised to cast aside
any personal disclination and
listen to the needs of their
customers as they are asking
for lab-created diamonds.”
Alexander Lacik
Pandora
“We are proud to broaden the
diamond market and offer
innovative jewellery that sets
a new standard for how the
industry can reduce its impact
on the planet.”
Paul Zimnisky
PZ Diamond Analytics
“I would say some - not
necessarily ‘many’ - retailers
are rethinking the way they
sell lab-created diamonds
as it pertains to selling them
interchangeably with natural
diamonds.”
“We are proud to broaden the diamond market and offer
innovative jewellery that sets a new standard for how the
industry can reduce its impact on the planet.”
Zimnisky says that the success of Pandora is evidence that
lab-created diamonds as a product will be best utilised by
those with an established brand.
“If you have a successful brand, notably in the case of luxury,
you are a lot of times selling the brand before the product
itself. This ultimately gives the brand distribution control and
most importantly pricing power,” he explains.
“In the case of Pandora, they already have the brand
established, so the hardest part is out of the way for them.
“They have the loyal customer base, they have the
distribution situated, they have the marketing machine. All of
this is already established for them.”
There may well be other reasons why Pandora has opted to
travel the lab-created diamonds route.
It could be suggested that a higher-price natural diamond
jewellery collection by Pandora would struggle to gain
traction due to competition from luxury brands.
That is, Pandora might be an internationally recognised
brand, however; the company does not position its product
to compete against the high-profile luxury brands.
And so, natural diamonds and Pandora once again find
themselves at odds.
Therefore, it could be assumed that Pandora’s alternative
was to embrace the less expensive lab-created diamond
category in order to maintain a position described as
‘affordable luxury’.
Specifics
Lab-created diamonds are often crudely compared to cubic
zirconia and moissanite by their detractors.
It’s an unfavourable comparison which, counter to the
intentions of those that employ the comparison, underlines
one of the positives of declining prices and increased
accessibility.
In the event that lab-created diamond prices continue to
decline and supply continues to improve, consumers will
have greater access to a higher-quality material for jewellery.
This will be true regardless of whether the stone will be
featured in an engagement ring or more casual everyday
‘fashion’ jewellery.
Essential Diamonds partner Vinit Jobanputra says that recent
sales analysis underlines consumer desire for a product
which is physically no different to its natural counterpart.
“Outside of engagement rings, jewellery basics or everyday

CHART A: AVERAGE PER CARAT RETAIL & WHOLESALE PRICES FROM 2020 - 2023 | Source: Tenoris.bi
Retail Price
Retail Cost
jewellery has seen an increase in sales,” he reveals.
“Specifically stud earrings, tennis bracelets and necklaces
as people are starting to see the lab-created jewellery as a
close substitute to natural jewellery.”
Jobanputra adds: “Consumers are starting to become a bit
more educated on lab-created diamonds and how they are a
cost-efficient alternative to ‘natural’ diamonds.”
Grown Diamonds operations manager Adrian Roa says that
one of the most important positives lab-created diamonds
introduce to the market is variety for the consumer.
“The availability and accessibility of lab-created diamond
jewellery have increased significantly in recent years,”
she says.
“Now customers can get jewellery along with their
engagement ring without spending a fortune. Everyone’s
budgets are different so it’s nice to have variety in
options available.”
Roa adds that whether it be natural diamonds or labcreated
diamonds the execution of the fundamentals of
the trade remains vital for retailers.
“It’s all about knowing the wants and needs of your
customers and giving them all the options they have
available to them to be able to meet their expectations
and more,” Roa advises.
“For those customers who have a more modest budget
or are even just aiming to be ‘smart’ with their money
lab-created diamonds will ensure they are able to get a
diamond much better than what they thought they could
get with the budget they have.
“The category is offering high colour, clarity and of course -
a bigger carat weight - for a fraction of the cost.”
DSM Pacific director Darshan Metha agrees with Roa
and tells Jeweller that timing is the market factor he is
the most conscious of.
“Lab-created diamonds in the coming years will establish its
share in the market, there’s no doubt about it,” Metha says.
“It has been given some opportunity so far; however, it’s
important to know that it takes around three years for any
given product to gain widespread acceptance in the market.”
Metha continues by suggesting that diamonds will soon be
viewed as a product of ‘consumption’ as opposed to that of
an investment.
“Lab-created diamonds have their own unique pros and
cons, as is the case with any product.
“They are becoming increasingly more affordable and I
suspect diamonds will soon be viewed as a product of
‘consumption’ rather than as an investment.”
Darshan Metha
DSM Pacific
"It [lab-created diamonds] has
been given some opportunity
so far; however, it’s important
to know that it takes around
three years for any given
product to gain widespread
acceptance in the market.”
Aakash Jobanputra
Essential Diamonds
“I think transparency
between businesses and
the consumer is a nonnegotiable
for us and we
should be doing our part
to educate the consumers
that are buying labcreated
diamonds.”
Adrian Roa
Grown Diamonds
“It’s all about knowing the
wants and needs of your
customers and giving them all
the options they have available
to them to be able to meet
their expectations and more.”
Vinit Jobanputra
Essential Diamonds
"Specifically stud earrings,
tennis bracelets and
necklaces as people are
starting to see the lab-created
jewellery as a close substitute
to natural jewellery.”
Contradiction
Despite the evolving discourse in the ‘debate’ between
lab-created diamonds and natural diamonds, there is still
significant misinformation and misunderstanding in circulation.
Both sides are blessed with passionate advocates, which
should come as no surprise given the money at stake.
Roa says that despite the concern around declining prices amid
increasing demand it’s wiser to look for the positives arising
from these circumstances.
“Even though the prices of the lab-created diamonds have
decreased over the past few months, it does not mean they are
losing their value or their prestige,” he says.
“All it just means there is a window to allow more people to
get access to them, and here is where the market of the labcreated
diamonds in jewellery will increase.”
That is, Pandora might be an internationally
recognised brand, however; the company does
not position its product to compete against the
high-profile luxury brands.
Among those most passionate about the future of labcreated
diamonds is Park-Tonks. She says that the most
important factor to remain focused on is the rising tide of
consumer interest.
“From its inception, lab-created diamonds have been a
consumer-driven phenomenon. Retailers would be best
advised to cast aside any personal disclination and listen
to the needs of their customers as they are asking for labcreated
diamonds,” she says.
“Lab-created diamonds should be displayed confidently,
either in isolation or alongside the mined category, as they
gain traction as an accepted offering among consumers.”
She concludes: “Retailers should devote resources to
telling a story about lab-created diamonds which is
honest and also avoids denigrating mined products or
greenwashing.”
Due to a range of factors most notably the Russia-Ukraine
war, 2022 offered something of a ‘free pass’ to the labcreated
diamond suppliers, opening the door to capture a
larger slice of the jewellery market.
For now, it appears that this opportunity was successfully
seized; however, now the category must face its next big
test – overcoming a quagmire of market contradiction as
prices fall and demand rises.

BUSINESS
Strategy
Important lessons to remember when
facing an economic storm
Avoid frightening your customers with austerity – at all costs!
GRAHAM JONES return to explain how you can avoid falling behind the competition.
The price of fuel has soared in the UK
leading to a tank of petrol costing $200
for the first time. Meanwhile in the US,
the inflation figures came in higher than
predicted.
I recently popped into the supermarket
to do a quick bit of shopping and bought a
‘meal deal’ of a main course, a side dish, a
dessert, and a bottle of wine. That cost $24.
The most recent time I bought it, the price
was $14. That’s a 71 per cent increase in
a few weeks. I suspect you are noticing
similar rises in the things you buy.
Economists will debate whether the world
is in recession. Technically, we may not
be. But everyone is feeling the pinch. With
inflation expected shortly to hit 10 per cent
and with wage rises running at an average
increase of 4 per cent, everyone is worse
off now than they were a year ago.
This means we change our behaviour
as consumers. Indeed, psychologists
investigating the ‘Eisenhower Recession’ of
1958 first demonstrated that.
They showed that consumer optimism
weakens because of what businesses do.
In other words, as businesses become
less active due to economic pressures, it
signals to consumers that they too - should
reduce their spending.
Perfect storm
Businesses do less, people stop spending,
companies therefore don’t have enough
income and must do even less, leading to
further consumer inhibition. Consumers
are not spending as normal because
businesses have created a psychological
environment that suggests spending
is not a good idea.areas and free lunch
cafeterias.
However, research in Portugal showed that
customers want to spend. They are just
seeking what the researchers said was
‘economic level-headedness’.
That suggests your customers are looking
to you for leadership when financial times
are hard. The research shows that people
continue to buy through tough economic
times and therefore, they want your
business to carry on selling.
Cutting back in times of economic chaos,
therefore, is likely to make it tougher on
your business, not easier. As you cut back,
your customers will see that as a signal
that they too should do the same. That’s
the last thing you want!
Solutions
The puzzle is how do you signal to your
customers that all is well when it isn’t?
One answer is to look at your own
processes and save money with improved
productivity. I was recently with a client
running a workshop and it became evident
that this award-winning, business was
inefficient in some of its online processes.
We discussed several ways it could reduce
the time it took them to do various webbased
activities. The solutions will reduce
their costs significantly which means they
don’t have to cut back.
As you cut back,
your customers
will see that as a
signal that they
too should do
the same. That’s
the last thing
you want!
The chances are your business could
make similar improvements to internal
processes to dramatically improve productivity,
saving time and reducing costs.
Browser and email notifications drag you
away from work. Switching them off will
save you an hour each day. What size is
your computer screen? Do you have two
monitors? People with two large monitors
are around 42 per cent more productive
than people who use a single, standard
computer screen.
Technology as the answer
There is so much that businesses could
do to use technology to improve productivity
without spending any money. In turn,
this productivity gain will reduce costs
due to increased efficiency.
That means that you don’t have to make
cutbacks. And that means your customers
will not get a signal they should stop
spending with you.
According to an article in the Harvard
Business Review, companies that thrive
during difficult economic times are the
ones that invest in technology. Also, the
article shows that companies that plan
ahead for economic difficulties are the
ones that do well.
This suggests if you plan now to use technology
wisely, you can survive the problems
that lay ahead. Leave the economic
chaos to others.
With a level head and more productive
use of technology, you can continue to
50 | March 2023

enefit from customers who will be willing
to do business with you. And that also
means the $200 tank of petrol will not be
such a problem for you!
Food for thought
A few weeks ago, I received an offer from
my bank that seemed worthwhile. It was
for cashback rewards on my card. I hardly
ever spend with the card, but it seemed a
good idea to use it for gaining discounts.
So, I went online to apply for the addition
to my card. All I had to do was go to the
relevant web page, enter my card details,
and I would be registered.
However, the website had other ideas.
I entered the card number, and then I
got a message saying, “verifying with
the bank”. That message sat there for
several minutes. So, I tried again, with the
same result. Handily, though, there was a
“contact us” button in case anything went
wrong. I pressed that button, filled in the
form and waited for a response.
Two days later, the bank replied, saying
that they could not deal with my query,
so please could I write to them at “the
following address”.
Yes, you read that right. I am on a website,
having an issue with one of the pages,
and the owner of that site wants me to
write to them using old-fashioned ‘snail
mail’
I replied to the email saying that there
was no need to waste anyone’s time with
a letter. All they needed to do, I said, was
to read the email and fix the web page.
Four days later, a letter arrived in the post
for me, which looked official. I opened it
to discover a letter from the bank saying
they had received my email and were
“looking into it” and would reply (by letter)
within 21 days.
Questions raised
So, my first question is, which century
does the bank think this is? But my second
query is, what makes them think that
a customer who sends an email wants a
reply by printed letter?
This is an indication of an utterly nonsensical
method of business operations,
considerably increasing their costs while
simultaneously reducing customer satisfaction.
Furthermore, it is a complete
and total lack of understanding of their
customers.
But why should I be surprised? You
wouldn’t have been if you had read the
latest report from LinkedIn on the “State
of Sales”. This shows that 60 per cent of
businesses genuinely believe they “focus
on the customer”.
However, according to the same study,
only 24 per cent of customers think that
businesses actually focus on them. In
other words, even though most businesses
believe they understand their customers,
most of their target audience does
not agree.
If anything, the data shows that it is far
worse than many businesses might think.
Almost eight out of 10 customers feel
their needs are being ignored.
The majority of businesses are poorly
serving their customers! So, even though
you are convinced you understand your
customers, the evidence points in the
other direction. The chances are you are
not serving your customers as well as
you could because you do not understand
them as well as you should.
Get with the times!
According to insights from the University
of Pennsylvania, part of the reason we
find ourselves in this predicament is that
businesses are still stuck in old ways.
THE PERFECT
STORM
Instigation
Forces such as
inflation damage
the economy.
Response
Businesses make
cuts to prepare
for uncertainty.
Unexpected
consequence
Customers
interpret these
cuts as evidence
they should
likewise tighten
their budgets.
Problem
The reaction
of businesses
to economic
uncertainty
harms consumer
confidence.
Solution
Businesses
improve
processes
internally
without the need
to cut back.
Rather like my bank using ‘snail mail’
in this digital age, many businesses
appear to focus on older concepts. The
insight suggests, for instance, that ‘lifetime
customer value’ is outdated. That’s
because these days the similarities
between individual customers are less.
People expect a greater degree of
individualisation that suits specific circumstances.
I was lecturing first-year
business students the other day, making
the point that businesses do not spend
enough money on customer research.
As I demonstrated to the students many
businesses appear happy with ‘just
enough’ data. Meanwhile, Amazon, Google,
and so on collect every last ounce of
information about you they can legally
achieve. In one week, Amazon will have
learned more about me than my bank
has in the past 43 years that I’ve had a
credit card.
The fact that online businesses can
target our individual and changing
behaviours week-by-week means that
we are all getting used to much more
personalised levels of service. We
can only hope to match that with far
greater attention to extensive customer
research.
The evidence is clear. Most businesses,
possibly including yours, are doing
woefully little in getting to grips with
understanding their customers.
If you don’t want to do the research,
though, do let me know, and I’ll pass on
your details to my bank - as I am sure
they have plenty of quill pens that you
will like.
GRAHAM JONES studies online
behaviour and consumer psychology
to help businesses improve website
success. Visit: grahamjones.co.uk
March 2023 | 51

BUSINESS
Selling
Winning the customer service battle: Part Two
Jewellery retail has changed significantly in recent years.
RICH KIZER and GEORGANNE BENDER return to explain how you can avoid falling behind the competition.
In the previous issue of Jeweller we shared
some vital sales tips to make the most of
the year ahead.
The best is yet to come, however, beginning
with the all-important banishing of the
words “may I help you?”
Targets
It’s important to be clear about sales
goals. Every store should set a sales goal
that needs to be met that day and each
employee should understand what part
they play in achieving it.
After you’ve broken the ice it’s time to
transition to the next part of the sale, so
unless the customer looks panicked or you
can tell from their actions that they are in
one big hurry, the words, “may I help you?”
should never be uttered on your sales floor.
Ask this question and most customers
will say, “no, thanks. I’m just looking” even
when they came in with something specific
in mind. Transition instead with “what
brings you in today?”
Some people will still say they are just
looking and that’s fine, let them browse to
their heart’s content, however, if they are
there for a purpose, they’ll let you know
and that makes your job much easier.
Make acknowledging every customer,
every time a non-negotiable policy. A
simple smile or nod is often enough;
your employees will know when more
conversation is needed.
Routine meetings
Commit to a weekly store meeting - don’t
start 2023 strong and then drop off before
week five because something ‘comes up’
that derails the business – something will
always come up! Keeping all employees in
the loop is as important as buying inventory
and setting displays.
Talk about what’s happening that week in
the store, merchandise that is expected
to arrive that week, events, sales, and
customer requests – anything that will help
your staff do a better job.
It doesn’t matter if your staff consists
of you and one or two others, hold the
meeting anyway.
There are only two of us in our office
right now and we still hold meetings to
keep each other up to speed on what’s
happening any given week.
Suggestive selling
Make suggestive selling an expected part
of the job.
Can you imagine how much you would add
to store sales if every employee added just
one additional item on to each sale? Every
retail employee we ask assures us they
practice suggestive selling, yet that’s not
always the case.
One of our favourite retail sales training
exercises is to take the attendees to a
shopping centre.
Each person is given money to spend
with the specification that they must
buy everything the salesperson
suggests they buy.
Guess how many come back with more
than one item? In a group of 10, maybe two
or three will come back with an additional
item. Talk about wasted opportunity!
If you know one product needs another
product to perform properly why wouldn’t
you share that information with the
customer while they is still in the store?
Adding on to the sale isn’t a pushy sales
technique when done ethically. It actually
helps the customer.
Wouldn’t you rather have the salesperson
tell you about an additional item that goes
with what you chose so you don’t have to
make another trip to the store to buy it
later?
Commit to a
weekly store
meeting - don’t
start 2023 strong
and then drop
off before week
five because
something
‘comes up’
that derails
the business –
something will
always come up!
You won’t reach your desired numbers if
you leave what happens on your sales floor
to chance, so share your monthly sales
goal with your staff, and then break it down
to daily sales targets.
It is easier to meet your sales goals when
employees understand what is expected of
them each day.
Refine your store policy
Make your policies competitive and hasslefree.
If every retailer in your community
happily accepts returns and exchanges but
your store does not, or your policies are too
strict, there’s a good chance customers
will go someplace else to shop.
Your return policy should be a win-win.
It should be fair to the store and the
customer. Clearly post the policy on your
website. Write it in a positive tone of voice –
if every sentence begins with “no” you have
some work to do.
It’s also a good idea to have the cashier
politely recite it to the customer during the
purchase so there is no confusion later.
Good luck
The pandemic has upped the ante on every
aspect of retailing. Large or small, chain or
independent, no retailer is immune to the
current and coming changes.
Customers want what they want, when
they want it, the way that they want it, and
there are retailers out there who are ready
to deliver. Make your in-store experience a
priority in 2023 and customers will thank
you in dollars and cents.
RICH KIZER and GEORGANNE
BENDER are retail strategists, authors
and consultants. Visit:
kizerandbender.com
52 | March 2023

BUSINESS
Management
Challenges are good for you and
good for your business
Whether we call them problems, headaches, dilemmas, or issues, at the end of the day we still must deal with them.
DAVID BROWN shares practical advice for overcoming unexpected issues in business.
Challenges come at us regularly in life
whether we are a business owner or
not. Sometimes they can be small and
sometimes they can seem overwhelming.
In whatever from they arrive challenges
seldom end without some effort on our
part and it’s through that effort we gain the
most benefit from these encounters.
Challenges in themselves don’t provide us
with a benefit, it’s important to understand
that it’s how we respond to them that will
determine the positives that will come from
the experience.
Firstly, let’s look at the types of challenges
we can face. Macro-level challenges
involve problems that occur on a large or
significant scale.
From a business perspective an economic
downturn, a pandemic or a change in
government policy can impact your store.
These challenges can be hard to control
and are brought on by external forces.
Micro-level challenges occur on what we
might consider to be a more ‘local’ level.
A key staff member leaving or an issue
with a customer’s order might be some
obvious examples. Although often more
immediately rectifiable they can also
appear more overwhelming due to their
closer personal nature.
Benefits
While dealing with challenges is always
frustrating, particularly for a ‘time poor’
small business owner, resolving issues
can bring with them many benefits.
• Sink or swim: Challenges help get rid
of weaker competition. An economic
downturn can be tough on any business,
however, it can close those who are
struggling the most.
Some people choose to think of
recessions as acting like economic
‘forest fires’ removing the deadwood
and allowing more space for the healthy
plants to grow.
• Rebirth: Creative destruction is a
positive effect often found following the
resolution of a challenge. In the world
of business growth, development, and
improvement are built on constant
innovation.
History shows that our biggest
challenges are the catalyst for change,
which can lead to improved efficiency
and performance.
• Self-assuredness: The experience of
overcoming significant hurdles does
a great deal for any small business
owner’s confidence and competence.
As philosopher Friedrich Nietzsche’s
famous work explains “that which
doesn’t kill us only makes us stronger”
- the things that we overcome will make
us a better, more confident business
owner and person.
• Highlights weakness: Facing adversity
often demonstrates what doesn’t work
or is failing.
Sometimes the issues in our processes
or systems are quiet and unknown until
a challenge arises and when that does
occur, it’s important that we take the
time to address it immediately.
As legendary inventor Thomas Edison
illustrated with his many failed attempts
at a light bulb, challenges can show
you what not to do as well as what you
should do.
• Develop determination: Overcoming
challenges tests your resolve.
The obstacles you face, whether in
business or life, can determine your
desire and how badly you want whatever
History shows
that our biggest
challenges are
the catalyst
for change
which can lead
to improved
efficiency and
performance.
your goal is.
Are you willing to push through? Are
you prepared to put in the effort?
Guidance
There are a number of things you can
do to make the situation better and
increase your chances of achieving the
best possible outcome when facing a
challenge on either the macro or micro
variety.
• Prepare for the worst: Many years ago,
a friend’s father attended a course by US
writer and lecturer Dale Carnegie.
His most key takeaway from the
experience was that one should
determine the worst that can happen
and be willing to accept it, and from
there be determined to improve.
• This too shall pass: How many of the
challenges you faced a week ago, a
month ago, or a year ago are a burden
for you today?
Chances are the vast majority of them
have come and gone after you took
action to address them – it’s easy to
catastrophise in the moment, however,
it’s not helpful!
• Look for the positives: How will this
improve you? How will this improve your
business? What new skills will you learn
from solving this?
You might have to have a difficult
discussion with a staff member. As hard
as it might be, know that you will become
a better communicator once the issue is
worked through.
Challenges are with us every day. You
can see them as a burden or use them
as a positive catalyst for personal
growth and change and a means of
improving your business.
DAVID BROWN is a co-founder
and business mentor with Retail
Edge Consultants. Learn more:
retailedgeconsultants.com
March 2023 | 53

BUSINESS
Marketing & PR
Why generational marketing matters: Part I
Every customer is unique however broad overlapping characteristics make marketing an easier process.
HEATHER COOPER explores the defining traits of the four key demographics consuming jewellery in 2023.
The majority of content marketing
strategies can easily cross
generational lines and work with
virtually any audience.
Ideas such as utilising user-generated
content, engaging with your audience on
your social media channels and including
a specific call to action at the end of your
content are among some of the strategies
that will work no matter the age or
various other demographics of your
intended audience.
There are, however, times when it
is especially prudent to consider
generational marketing as part of your
content marketing strategy. While each
person is undoubtedly different, every
generation has different needs and
desires, and what works for one may
not necessarily work for another.
Marketing Insider Group, a US marketing
firm, tells us that: “Generational
marketing is the term coined for
segmenting and targeting your markets
by age rather than other demographics
such as gender, location, or income.
If you want to make sure your content
marketing is effective for each generation
you’re targeting, you must understand
the motivations, challenges, and habits
of each generation, and how you should
tailor your content accordingly.”
While it’s important to remember that
not everyone in a specific generation
will have the same viewpoints, needs, or
wants, analysing what each generation
has experienced and what generally
makes them tick is a good starting point.
There will obviously need to be further
segmentation of each generation by other
demographics for your content to be truly
effective, however; understanding the
fundamentals of each generation is key to
starting off on the right foot.
Each generation will have its own unique
marketing challenges and opportunities
based on their experiences growing up.
This includes the economic climates
they’ve survived and the things they’ve
come up against in their personal and
professional lives.
There are currently four different
generations who actively consume media
and buy jewellery products and services.
Each generation is different with unique
life experiences that have moulded how
they see the world, their purchasing
preferences, and their social media habits.
Baby Boomers
Baby Boomers are looking to take
advantage of brand loyalty and tend to be
very loyal to the brands they know and
trust. If you prove that you have quality
jewellery, Baby Boomers will come back to
your store time and time again.
Go for the up-sell here! Since this
generation has a large amount of spending
power and prefers to seek out deals, it
pays to simply ask if they’d like to pay extra
for more value or service. This can also
help to build better relationships with your
customers.
Use traditional marketing to reach this
segment of the market. Baby Boomers do
best with traditional marketing strategies.
Television and newspaper ads are more
likely to get them to purchase something
than a Facebook ad – in fact, they may
report it as spam!
Additionally, Marketing Insider Group
reminds us that those in this generation
find value in in-depth articles and analysis.
Each
generation
will have its
own unique
marketing
challenges and
opportunities
based on their
experiences
growing up.
Your language should be more formal when
targeting Baby Boomers and you should
strive to avoid slang, abbreviations, and
pop-culture references – however take
additional care not to be condescending.
Generation X
Offer discounts to reach Generation X
as they are conscious of saving money
wherever they can. Introducing discounting
for your jewellery or services is a great way
to reach this community.
Spreading these promotions through
email is an excellent way to get them in
front of Gen X.
This generation appreciates services or
products that are beneficial to society as
a whole or the environment, so wherever
possible showcase that you aim to ‘do
good’.
Develop what’s known as ‘lifestyle nurture
programs’. To establish customer loyalty
with Generation X, Facebook ads targeting
anniversaries, birthdays and other special
occasions that offer updates or incentives
month-to-month are useful.
You should consider trying direct mail as
86 per cent of this generation brings in the
mail every day and 68 per cent have used
coupons. As stated before, discounting
works well with this generation, so try
sending some in the mail!
Generation X is inclined to be more
sceptical than both the generation that
came before them and the generation
that came after them. Because of this,
it’s important to be consistent and authentic
in all your content marketing strategies.
In the next issue of Jeweller I’ll discuss
the best ways to connect with the two
remaining generations – Millennials and
Generation Z.
HEATHER COOPER is a writer for
Three Girls Media, offering guidance
on website design and build, public
relations, and content marketing
strategy. Learn more:
threegirlsmedia.com
54 | March 2023

BUSINESS
Logged On
How important is LinkedIn in 2023?
Some small business owners seem to spend more time on LinkedIn than they do working on their business.
BRIDGET BROWN encourages you to reconsider your social media strategy.
If you’re a regular reader of my work
you may know that I’m sceptical about
the power of social media for marketing
in 2023, at least for small businesses.
I became disillusioned with Facebook
and now, I’m wondering is LinkedIn
relevant in 2023? I have growing doubts.
Before I dive any deeper into my issues
with the platform, I’m not saying to
stop using LinkedIn. I would agree that
it’s important to have a well-crafted
LinkedIn profile aligned with your
branding in 2023.
For example, say you meet someone
however you don’t exchange business
cards in person. That individual will
most likely look you up on LinkedIn. You
want your profile to be the best referral
you can get.
However, in order to create content that
actually appears in your audience’s feed,
you have an uphill battle that takes time
and effort. And if you’re a small business
owner chances are you’re not blessed
with extra time.
Oversaturation
LinkedIn has become oversaturated and,
as a result, it takes more time than ever
before to stand out amongst the crowd
and as we previously mentioned, time is
not something small business owners
can afford to waste.
This is an issue I have with many
marketing companies, particularly
the ones that do not cater to small
businesses. These companies
demonstrate ways to light up your
social media so it generates additional
engagement, however; they neglect to
point out that so many of their ideas for
improving engagement take time.
People love to say that time is money and
while I would agree that time does have a
certain monetary value, ultimately unlike
money, we can’t make any more!
It’s okay to be casual - generating
LinkedIn engagement is doable,
however; only if you’re passionate about
the work it takes to get there. If you
are, and you love logging in multiple
times a day, if you love replying to every
comment, and if you love the banter with
your network, then why are you still
reading this? Get out there and start
posting!
However, for the rest of the business
world, it’s frankly just not worth the
time and effort. If you aren’t going to
commit to engaging with everyone who
comments or likes your post then it isn’t
worth the energy it takes to join.
One thing I think is often overlooked is
that it’s okay to do the bare minimum
when it comes to social media. This
is quite frankly an area where it’s
acceptable to be slack.
Dying features
Have you received any LinkedIn direct
messages that you found helpful and
relevant lately? I have not! At least, I
haven’t found any that are helpful and
relevant, possibly because anything
valuable would be lost among the five
million ‘cold call’ style sales messages I
receive every time I log in.
Why are we all suddenly carpet bombed
with unsolicited pitches? Because
LinkedIn is promoting ‘social selling’,
that’s why! It’s a woefully optimistic term
for trying to prospect for new business
on LinkedIn.
Why are we all
suddenly carpet
bombed with
unsolicited
pitches?
Because
LinkedIn is
promoting
‘social selling’
- a woefully
optimistic term
for trying to
prospect for
new business
on LinkedIn.
I’m sensitive to the idea of cold
messaging people on social media,
as I think most of my generation is.
For the past decade women I barely
know have been sliding into my direct
messages with a chipper hello, trying
to get me to ‘join the team’ as a fitness
coach, lipstick hawker, or purveyor of
‘essential oils’.
Social selling is firmly the domain of
multi-level marketing schemes and if
you’re a small business, you don’t want
anyone to mistake you for one.
Too much content, not enough traffic
When I examine my LinkedIn feed I
see posts from politicians, famous
journalists, and Ryan Reynolds.
I don’t see my own colleague’s posts,
or posts from my friends – even my
husband is buried beneath the celebs!
The newsfeed has become bloated,
tedious, and irrelevant.
Recent statistics suggest that around
20 per cent of users log in each day.
That means that four out of every five
users aren’t logging in each day.
In other words, most of your network
isn’t going to see your posts in their
newsfeed because they aren’t on the
site when you post.
LinkedIn tries to help you ‘game the
system’ by telling you the best time to
post, but if everyone is following that
advice, then all you’re doing is creating
a drop in the content tsunami.
LinkedIn has its place in your
marketing strategy, however, for these
aforementioned reasons when it comes
to pouring my time into posting, I’m
LinkedOut.
BRIDGET BROWN is founder of
Create That Copy & Marketing, a
Canadian marketing firm focused on
generating leads and increasing sales
and revenue for small businesses.
Visit: createthatcopy.com
March 2023 | 55

My Bench
Greg John
Abrecht Bird Jewellers. Melbourne VIC
Age 67 • Years in Trade 53 • Training Apprenticeship • First job Apprentice for L.W. Designers. • Other Qualifications National Council of Jewellery Valuers - FGAA
SIGNATURE PIECE
STRAYA
All these Australian gems, set in white gold, are found
in dry riverbeds, so the outside yellow edges of the
bracelet meander around a rose gold red centre, the
texture of inland rock. Individual sections are different
shapes and sizes, as are the gemstones. After all, no
two rivers, territory or state, even mobs or clans, in
our country are identical.
4FAVOURITE GEMSTONE Everything natural.
4FAVOURITE METAL Gold.
4FAVOURITE TOOL Piercing saw.
4BEST NEW TOOL DISCOVERY Laser welder.
4BEST PART OF THE JOB Creating, as well as
the response from delighted customers.
4WORST PART OF THE JOB Finding the time to
keep all clients happy.
4BEST TIP FROM A JEWELLER Look at what you
do and why you do it.
4BEST TIP TO A JEWELLER Never stop learning
and enjoy the journey.
4BIGGEST HEALTH CONCERN ON THE BENCH
Complacency, and deterioration of vision with age.
4LOVE JEWELLERY BECAUSE It gives you the
ability to express artistic and technical abilities.
56 | March 2023

OPINION
Soapbox
Crystal gazing: the future
of lab-created diamonds
The rise of lab-created diamond jewellery has continued unabated.
JOANNA PARK-TONKS shares her predictions for the road ahead.
This year is shaping up to be the most
significant year yet for the lab-created
diamond market.
From the early days of the debate between
lab-created diamonds and mined natural
diamonds, the discourse has evolved
while an inexorable wave of lab-created
diamonds hit the marketplace.
With a global recession predicted for
halfway through the year and international
political consternation still widespread,
discretionary consumer spending may
soon tumble.
This will be evidenced by lower grocery
spend, struggling brand items and declines
in purchasing of smaller lifestyle ‘treats’.
Inevitably such global trends will impact
jewellery sales and the lab-created
diamond sector, although if the pandemic
taught us anything, it’s that consumer
interest in jewellery remains high even in
troubling and uncertain times.
Though it is important that lab-created
diamonds maintain their rightful status
as high-value luxury products with an
aspirational price point, consumers will
inevitably be looking to restrict their
budget.
When that occurs lab-created diamonds
will be a competitive choice as consumers
aim for a doubling of carat size for the
same price they would have spent on a
mined product.
With all of the above in mind, consider
the following as predictions for the year
to come.
Improved retailer confidence
Lab-created diamonds and natural
diamond inventories will increasingly coexist
in arguably different aspects of the
customer demographic and market.
Retailers will respond by becoming more
confident in presenting lab-created
diamonds head-to-head with mined
diamonds.
In the future the role of industry
organisations such as the International
Grown Diamond Association will be to
support retailers in presenting labcreated
diamonds honestly.
With this increased focus on transparent,
accurate information and education,
consumers are better placed to make an
informed purchasing decision.
Increasing demand for certification
As lab-created diamonds develop
stronger recognition consumers will
become more demanding as they travel
up the educational and experiential curve.
According to the latest research by MVI
Marketing, a boutique luxury goods
consulting firm on gemstones and
jewellery, consumers increasingly desire,
and in many cases expect, certified goods.
This will be important in terms of
consolidating the legitimacy of the
category in the eyes of the consumer and
fostering trust.
Maintaining pricing integrity
Pricing is always a vexing subject within
which everyone has an opinion.
My sincere hope for the industry is
that there is not a race to the bottom
for pricing as this will benefit no one -
deleteriously impacting both diamond
categories and perceptions of value.
In socio-economic theory, diamonds
along with expensive lawyers are classic
examples of Veblen goods – whereby
demand is inextricably bound with
perceptions of high price.
The lab-created diamond segment must
stand confidently in its own power and
pricing must reflect this. Comparison
only ever seems to devalue us.
Pricing, quality, and marketing should
reflect that neither lab-created diamonds
nor natural diamonds are the ‘right’ or
‘correct’ choice – however, both are valid.
Emergence of a secondary market
An oft-quoted disparagement of the labcreated
diamond market is that there is
poor resale value.
Diamonds of any category, unless in the
My sincere hope
for the industry
is that there is
not a race to
the bottom for
pricing as this
will benefit no
one - deleteriously
impacting
both diamond
categories and
perceptions of
value.
‘Magnificent Jewels’ league should never
be construed as an investment!
Whether they are a commodity is another
debate. People buy diamonds for a range of
reasons, almost always driven by emotions.
Thankfully few people are purchasing
diamonds with the hopes of a profitable
resale, but undoubtedly, perceptions of
value will be affected by their ability to
hold their value long-term.
Substantiation and peace
Finally, there have been various overtures
within the lab-created diamond industry
to promote a quantification of quality and
most pertinently, sustainability standards.
Arguably, the topic of sustainability is
near the top of every corporate agenda
these days.
Many have moved to align their
business with best practices in regard to
sustainability however more can be done
with specific regard to our sector and
environmental claims.
The mud-slinging between the labcreated
diamond and mining sectors in
regard to environment ‘credentials’ will
hopefully, one day, cease as it is both
unproductive and unedifying.
That however is more of a wish rather
than a prediction, to be sure.
In the same way that the mining industry
worked hard to establish a positive
legacy and promote best practices on
provenance and human rights, my hope is
that the lab-created diamond sector also
holds itself up to scrutiny.
Developing an industry-wide
quantification of sustainability claims
which are legal and evidence-based
will be one path to taking lab-created
diamonds to a higher level.
Name: Joanna Park-Tonks
Business: International Grown Diamond
Association (IDGA)
Position: President
Location: UK
Years in the industry: 5
58 | March 2023

2023
International
Jewellery
Fair
August 19 – 21
ICC Sydney, Darling Harbour
Australia’s original Number #1
jewellery event... with so much more
Presenting Australia’s largest collection of suppliers, this is a must-attend event for jewellers, jewellery retailers and
others throughout the industry. Proven and dependable, there’s no comparison. See the latest ranges and trends, place
orders onsite and secure stock for the future. This event is supported by industry buying groups, offers complimentary
retail seminars and supports emerging jewellery designers. Find out more at www.jewelleryfair.com.au
Proudly
supported by
Organised by
Est. 1990

SAMS GROUP
AUSTRALIA
Sams Group Australia’s Argyle pink diamond collection
Whether you are investing in a tender stone, looking for some melee to complete a custom
design or just a single pink diamond, you will find them stocked at Sams Group.
TENDER STONES SINGLE STONES
MATCHED PAIRS CALIBRATED MELEE LINES
1 to 9PP/P/PR
Apply for wholesale access via QR code or call our friendly team 02 9290 2199