Jeweller - May 2024

VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY MAY 2024
Off the Grid
WHY ARE SO MANY JEWELLERY
RETAILERS AVOIDING THE INTERNET?
Glorious Gold
IT'S SHAPING UP TO BE A YEAR TO
REMEMBER FOR GOLD JEWELLERY
Pride & Joy
CELEBRATING SOME OF AUSTRALIA'S
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Where Brilliance Connects
17 – 19 AUGUST, 2024
ICC SYDNEY, DARLING HARBOUR
JEWELLERYFAIR.COM.AU
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20 - 23 / 6 / 2024
Hong Kong Convention and Exhibition Centre
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WHY ARE SO MANY JEWELLERY
RETAILERS AVOIDING THE INTERNET?
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY MAY 2024
IT'S SHAPING UP TO BE A YEAR TO
REMEMBER FOR GOLD JEWELLERY
CELEBRATING SOME OF AUSTRALIA'S
FINEST JEWELLERY CREATIONS
MAY 2024
Contents
This Month
Industry Facets
11 Editorial
12 Upfront
14 News
32 Jewellers Showcase
24
27
48
50
10 YEARS AGO
Time Machine: May 2014
LEARN ABOUT GEMS
Game-Changing Gemmologists: IX
MY BENCH
Shay Daly
SOAPBOX
Katerina Perez
35 GOLD JEWELLERY
Year of the Dragon
The passion for gold jewellery is thousands
of years old. 2024 is expected to be an
important chapter in a long-running story.
Features
28
STATE OF THE INDUSTRY REPORT - ADDENDUM
Why do so many jewellery retailers not have a website?
35
GOLD JEWELLERY
Learn about the remarkable history of gold jewellery
28 STATE OF THE INDUSTRY REPORT
Has your business
embraced the internet?
In the latest addendum to Jeweller's
2024 State of the Industry Report,
discover
the startling number of Australian retailers
operating without a website.
Better Your Business
42
44
BUSINESS STRATEGY
It's time to optimise your business. STEVEN VAN BELLEGHEM explains how.
SELLING
DAVID BROCK questions how much help you're really offering customers.
45
46
47
MANAGEMENT
DAVID BROWN reveals the secrets to breaking bad habits in business.
MARKETING & PR
DAVE WAKEMAN discusses the importance of targeted marketing.
LOGGED ON
BARRY URQUHART encourages patience with Artificial Intelligence.
32 JEWELLERS SHOWCASE
Colours of the rainbow
Take a closer look at some remarkable
pieces created by renowned Australian
jewellery designers.
FRONT COVER
For more than three decades,
BECKS has provided the Australian
jewellery industry with world-class
precious metal products and services.
With a wealth of knowledge and invaluable
experience, the company prides itself on
an undying passion for fine craft.
Learn more: becksgroup.au
Off the Grid
Glorious Gold
Pride & Joy
May 2024 | 9

BACK TO THE FUTURE!
The 2024 International Jewellery Fair (IJF) will once again see the
Australian jewellery industry united and amalgamated – all coming together under
one roof; working for the betterment of retailers and wholesalers alike.
Not only will the Sydney Fair feature the largest cross section of brands, suppliers,
products and services all in ONE location, Australia’s retail buying groups –
Independent Jewellers Collective, Nationwide and Showcase – will be present on
the fair floor using the three-day event to connect, educate, buy and celebrate.
UNITY!
IJF remains the longest running annual celebration of the Australian jewellery industry
and is an example of how everyone can collaborate, combine to improve and
advance the industry… it’s BACK TO THE FUTURE!
It is often said that where there is unity there is strength, and in this ever-changing
digital world, there has never been more reasons to work together for success.
IJF again unites those who put the success of the jewellery industry first and
provides the best opportunity for collective success. It is where sellers and buyers
gather under one roof at Australia’s premium purpose-built exhibition venue –
the International Convention Centre (ICC) at Darling Harbour.
Want to be part of this year’s celebration and festivity? Register today.
International
Jewellery Fair
17 – 19 AUGUST, 2024
ICC SYDNEY, DARLING HARBOUR
JEWELLERYFAIR.COM.AU
Where Brilliance Connects
Proudly supported by
FREE REGISTRATION
Organised by
10 | May 2024

Editor’s Desk
Social media: Is the juice worth the squeeze?
Are jewellery retailers placing too many eggs in one basket when it comes to social media?
SAMUEL ORD considers the pitfalls of digital dependency.
It goes without saying that the internet
has evolved into a bountiful resource for
independent jewellery retailers.
Social media platforms offer a gateway
to an endless pool of new consumers,
and e-commerce websites can serve as a
valuable addition to a traditional storefront,
generating additional sales.
The latest research from Jeweller has
uncovered some startling insights about
the relationship between Australia’s
independent retailers and digital marketing.
The 2024 State of the Industry Report
documented 2,010 independent jewellery
retailers in Australia. A deeper analysis
has revealed that around 600 of these
businesses (30 per cent) do not have a
website. Many retailers operate social media
accounts instead of websites.
Surprisingly, 265 businesses – 13 per cent
of the total market – did not have a digital
presence at all.
These are remarkable findings given the
increasingly co-dependent relationship
between business and the Internet.
Most business owners are comfortable
acknowledging the benefits of digital
marketing; however, there can be challenges
preventing some from migrating online.
These include budget concerns, a lack of
time, technical difficulties, and general
uncertainty about where to start.
Fast-forward to the end of this decade, and it
would seem unlikely that a large percentage
of the industry will be absent from the
internet in the not-so-distant future.
This is in part due to demographics. Many
jewellery business owners are closer to the
end of their careers than the beginning.
During Jeweller’s survey of more than 200
retailers, participants were asked their age.
More than 58 per cent answered 55 or older,
and a further 22 per cent were aged 45-54.
Retailers were also asked if they intend
to retire or sell their business in the next
five years, with 38 per cent of responses
indicating either ‘strongly agree’ or ‘agree’.
These insights suggest a ‘changing of the
guard’ is on the horizon for the jewellery
industry. Emerging businesses led by
younger proprietors are more likely to be
‘tech literate’ and embrace the internet than
previous generations.
That said, it seems likely that by 2030, far
fewer jewellery businesses will operate
without a website or social media account.
Only time will tell.
Risk & Reward
Jeweller’s research found that rather than
having a website, 14 per cent of Australia’s
independent retailers are using Facebook
as a primary digital point of contact, and a
further 3 per cent are using Instagram.
The emergence of these platforms has
offered many advantages to retailers and
even increased the viability of business
models operating without a storefront.
It’s important to acknowledge that it’s not
all ‘fun and games’. This is particularly true
when businesses depend on these platforms
for sales leads and income generation. That
is to say, instances in which social media
platforms act as primary sales tools.
For these retailers, the future of their
business is largely taken out of their hands,
and they are subjected to the whims of big
technology companies, such as Facebook,
Instagram, TikTok and others.
History says that’s a recipe for disaster. You
may recall a story from 2010 concerning
Sydney jeweller Victoria Buckley.
Buckley’s business launched a marketing
campaign featuring images of dolls posing
with jewellery. Visual merchandising
displays in a George Street store window
were accompanied by Facebook posts.
After the campaign launched, Buckley
received warnings from Facebook that the
pictures constituted "inappropriate content"
and breached the site's terms of service.
The only nudity to speak of were nipples on
the high-end porcelain figures. The platform
later removed the images, effectively erasing
the digital marketing campaign.
Buckley set up a separate page declaring
that the platform was censoring her.
Facebook struck that page down.
Facebook would eventually apologise for the
censorship; however, the damage was done,
and a valuable lesson was learned.
As Buckey later explained, the experience
"It’s folly to
ignore the
advantages
digital
marketing
can offer your
business. It’s
foolish to
ignore the risks
associated with
depending on
these platforms
for sales."
demonstrated that all it took to erase a
marketing campaign – and an avenue for
sales - was for a single faceless employee at
a social media company to disapprove.
All it takes is the click of a button to delete
hours of work and a potentially significant
financial investment, and business owners
have little, if any, opportunity for recourse.
This silent threat looms large over any
business that depends on social media for
sales. The future of the business rests in the
hands of anonymous tech employees.
Similar concerns have been raised over
the social media platform TikTok. In April,
US president Joe Biden signed into law an
effective ban of the platform.
This prohibition threatens the livelihood of
many businesses that use the platform for
marketing purposes – and the resolution is
out of the hands of these entrepreneurs.
Crime & Punishment
An increasing reliance on these platforms
also exposes these businesses to the other
more common pitfalls of social media, they
have warped consumer expectations.
Businesses must be available 24/7 online
to answer questions. Any failure to do so
can be met with scorn and invites unfair
comparisons between businesses.
Would you rather sleep after a long day in
your store or reply to inane questions about a
pair of $99 earrings at midnight?
People spread hurtful comments and content
online that they would never utter face-toface
with another person – and not everyone
is who they say they are online!
If your store can thrive and prosper without a
website or any digital presence whatsoever,
then great. It could be the hallmark of
a strong and well-established business
However, depending on Facebook and other
tech platforms for your sole online presence
may not be wise.
It’s folly to ignore the advantages digital
marketing can offer your business. It’s foolish
to ignore the risks associated with depending
on these platforms for sales.
It’s up to you to determine whether or not the
juice is worth the squeeze.
SAMUEL ORD
EDITOR
May 2024 | 11

Upfront
Stranger Things
Rewind: Best Bench Tip
Image: Yahoo
Weird, wacky and wonderful
jewellery news from around the world
APRIL 2018
Jacob & Co’s latest flutter
Luxury watchmaker Jacob & Co
has released the Billionaire III series,
a dazzling timepiece collection that
blends elite manufacturing with eyecatching
colour gemstones. Billionaire
III Emeralds is set with 714 natural
emeralds, weighing 102.35 carats. The
number of gemstones in the Billionaire
III Rubies is unchanged; however, it has
increased to 147.65 carats. Billionaire
III Rainbow is a kaleidoscope of colour,
boasting 580 natural sapphires in 30
different colours to achieve the desired
rainbow effect.
Helping hand?
Botswana Diamonds (BOD) is using
Artificial Intelligence (AI) to locate
new diamond deposits. The UK-based
company said the technology allows it
to apply human-like understanding to
vast amounts of data. It has developed
'mineral prospectivity technology' called
Xplore in collaboration with UK-based
International Geoscience Services
Limited. BOD has the second-largest
diamond exploration database in
Botswana, comprising 380 gigabytes of
data and 260,000 files.
Hero turned villain
A US marine has been charged
with stealing more than $USD500,000
worth of jewellery in heists at two
stores in Texas. Marcelo Hernandez,
18, is accused of smashing through the
front door of David Yurman Jewelry
at Houston Premium Outlet Mall in
October, smashing the display cases,
and stealing more than 200 pieces
valued at $USD380,000. He is also
accused of stealing more than $170,000
worth of jewellery from
Helzberg Diamond in April.
“You are only
as good as
your last job”
CHRISTOPHER GREEN
CHRISTOPHER GREEN
JEWELLERS
HISTORIC GEMSTONE
The Attallah Cross
The Attallah Cross, with its
square-cut amethysts offset by
5.2-carat diamonds, was created
in the 1920s by London jeweller
Garrard. Believed to originate as a
private commission, businessman
Naim Attallah purchased the cross
from Garrard in the 1980s. The piece
gained fame after Attallah loaned
it to Princess Diana in the 1980s.
Diana wore it to a Birthright charity
ball in 1987, pairing it with a pearl
necklace and a dramatic Elizabethan style dress.
Kim Kardashian purchased the Attallah Cross at a Sotheby’s
auction in London in 2023. It was sold for £163,800 ($AUD316,752).
Vision of the future
Retailers are increasingly
turning to Artificial
Intelligence (AI) to help them
solve complex problems.
From major brands to
supermarkets, retailers are
looking to improve efficiency.
By applying algorithms to
predict fluctuations, retailers
can improve performance in
a critical retail area, inventory
management, by stocking the
right products depending on
market conditions.
Timeless Trends
For many years, layering and stacking
jewellery has been a great way to elevate
any look. It's a versatile approach to
jewellery that provides flexibility.
Rihanna, Kim Kardashian, and Miley
Cyrus use this strategy, keeping it simple
by stacking rings or capturing attention
with multiple pendants and necklaces.
Campaign Watch
The Natural Diamond (NDC) has
launched a new campaign – Real,
Rare, Responsible –to emphasise
the importance of the industry’s core
values. The campaign features brand
ambassador Lily James following trips
to Canada and Botswana. The NDC is
gradually rolling out the campaign on
its platforms before its main launch,
which is planned for the JCK Las Vegas
show in May.
Image: Natural Diamonds
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY
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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
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arising from the published material.

News
Michael Hill outlines plans for
major brand revitalisation
Bombshell property purchase : Fear spreads
about the future of Queensland’s opal industry
Michael Hill International has revealed new details about
its upcoming brand revitalisation.
The new branding was a project two years in the making,
focusing on balancing an ‘aspirational’ position in the
market with heritage, the company said in a statement.
Michael Hill’s location in Chadstone will be refurbished
into a flagship store, incorporating all aspects of the new
branding and a new in-store experience, including semiprivate
selling spaces.
CEO Daniel Bracken said the new branding will be
gradually rolled out across stores in Australia, New
Zealand and Canada over the coming years.
“As a global brand that offers modern, contemporary
fine jewellery our repositioning marks a new era for
the Michael Hill brand, part of our long-term business
strategy,” he said.
“It not only exudes the reimagined vision for the brand,
but it allows us to continue telling our heritage story
in a new, exciting way. We can't wait to relaunch and
showcase our fine jewellery that focuses on quality,
craftsmanship, and responsibility.”
As part of the branding ‘refresh’, the ‘M’ and ‘H’ on the
logo have been combined to create a window as an
homage to the company’s founders.
Chief marketing officer Jo Feeney said: “We’re excited
to reveal our new brand positioning; it’s been a couple of
years in the making.”
“It’s been a process of fine-tuning to ensure our new
brand journey perfectly encapsulates everything Sir
Michael and Lady Christine Hill have built while allowing
Michael Hill to be progressive and modern.”
“Through our rebrand, we want to alter perceptions of
what people think the Michael Hill brand portrays and
create an aspirational shift in the market.”
Michael Hill partnered with marketing agency CHEP
to complete this project. Jeweller's 2024 State of the
Industry Report found that MHI had 141 stores in
Australia.
Australia’s opal industry is up in arms after the
sale of an outback Queensland cattle station, a
vital source of the country’s national gemstone.
Vergemont Station, located 140 kilometres west of
Longreach, has been acquired in a joint purchase
by the Queensland government and the Nature
Conservancy. The purchase was reportedly
finalised after an anonymous donation of $21
million.
The 352,000-ha property has been for sale since
2016. Two neighbouring stations - Tonkoro
(138,200ha) and Melrose (73,048ha) - were
recently purchased by the state government and
added to existing national parks.
These purchases led to speculation within the
opal industry that Vergemont would soon be
converted into a national park — speculation that
has now been proven accurate.
Queensland’s environment minister, Leanne
Linard, said the government would work with the
industry to ensure the future of opal mining.
“We will allow small-scale opal mining interests
to continue their operations on suitable areas,”
she told The Guardian.
“We will work to ensure an ecologically
sustainable coexistence between the existing
opal mining operations and conservation of the
important natural and cultural values on the
property.”
Queensland’s opal mining industry finds
little solace in these promises. Key industry
stakeholders plan to travel to Canberra to raise
this issue at a federal level.
Among them is Erik Madsen, a founder of the
Australian Opal Centre, who said that this issue
affects every Australian.
“This is about more than just Queensland’s opal
miners. This is our national gemstone, and that
makes this a national issue,” he told Jeweller.
“We’ve got to fight for what we’ve got. Vergemont
Station is a major source of boulder opal, and if
it becomes a national park, we can’t possibly see
how mining will be permitted.”
The million-acre cattle property has around 60
operational claims and leases. More than 100
people — seven per cent of Winton's population —
are believed to use the property to mine opals.
The Queensland Boulder Opal Association
has previously written to the Department of
Environment and Science requesting information
on the outcome of opal mining activity in the
region if Vergemont Station was purchased for
national park purposes.
President Alison Summerville described the
purchase as a ‘nuclear bomb’ hitting the mining
industry.
“You can’t imagine the distress this has caused
the opal mining community,” she said.
“Some families in Australia have been mining opal
for more than 100 years. They’ve set everything
aside for the next generation, making significant
plans and investing huge amounts of money into
machinery and camps.
“Now they’ve learned that with a stroke of a
government pen, it can all become a national
park, and the story is over.”
Summerville said that Winton recently hosted
a delegation of Queensland government
representatives to explain the impact of this
purchase on the region and that negotiations
to secure the future of mining in the area were
ongoing.
14 | May 2024

News
JC Jewels: Diamond dealer ousted from own company
Craig Miller, CEO of diamond supplier JC Jewels,
has been walked from the company amid a major
restructure.
The LinkedIn profile describes JC Jewels as the
first company to ‘launch’ lab-created diamonds in
Australia. It also declares that it is the country's
largest supplier and importer of lab-created
diamonds.
Miller is listed on ASIC records as one of four
directors and shareholders, the others being
Steven Braun, Vincenzo Bonfa, and Timothy
Demmy Sung.
He is also vice president of the Diamond Dealers
Club of Australia and has attempted to establish
a high profile in the jewellery industry, including
speaking at industry forums and writing industryrelated
articles.
Interestingly, Miller was ousted as CEO of JC
Jewels only four days after appearing on a
28-minute Rapaport Diamond Podcast, where
he discussed the state of the Australian jewellery
industry.
When contacted about Miller’s sudden departure,
Braun explained that it was the result of a
strategic decision to close the Sydney office and
consolidate operations in Melbourne.
“This is a part of our ongoing efforts to better
serve our clients and position our company for
long-term growth. By centralising all of our
operations to Melbourne, we are able to improve
overall efficiency, expand our product range and
maintain our competitive diamond pricing,” Braun
told Jeweller via email on 16 April.
“Amidst the company restructure, two of our
employees Craig [Miller] and Lonn [Miller] have
departed from their roles within the organisation.”
Jeweller understands that the circumstances
of Miller’s departure were neither expected nor
amicable.
Braun was asked whether it was unusual to have
the CEO depart before a major restructure.
He refuted the notion, saying, “I'm not sure I
agree it's that unusual. We're in a competitive
market and restructures are not uncommon and
often necessary.
“While we recognise that restructures can
be challenging for all parties involved, we're
confident this decision is in the best interest of the
company and our customers.”
Braun continued by suggesting that it would be
‘business as usual’ for JC Jewels.
“Our team at JC Jewels will ensure a seamless
transition and are ready to address any needs or
concerns that may arise during this process. Our
priority remains providing exceptional service and
support to our clients and we are confident that
this consolidation will enable us to better achieve
this in the long term.”
Before his time at JC Jewels, Craig and his
brother Lonn worked for the family business
Miller Diamonds.
The company was best known for its Passion8
diamonds brand, which began in 2001, and
later for the Passion8 branded jewellery range,
launched in 2011.
Miller Diamonds was founded by their father, Des
Miller; however, it later faced significant financial
difficulties and was placed in voluntary liquidation
in 2014.
In July 2014, the company’s official liquidator,
Sule Arnautovic, confirmed to Jeweller that the
cause of that financial predicament was a major
overseas diamond supplier “calling in” its debt.
Before deciding to emigrate to Australia in the
mid-1990s, the Miller family had operated a
diamond business in South Africa that employed
more than 250 people and was a De Beers
sightholder.
Miller’s high-profile approach to business and
the media has seen him provide commentary and
advice on many aspects of the diamond industry,
culminating in the Rapaport Diamond Podcast on
7 April.
He has previously detailed and explained the
rapidly changing nature of the diamond industry.
At a recent industry forum, Miller provided his
insights into "the successes and challenges of
2023 and hopes for the 2024 year".
He noted, “Change is the only constant — if you’re
not engaging in change, you’re not evolving. Don’t
get left behind. This world is moving fast, and your
business must follow suit.”
Jeweller briefly spoke with Craig Miller regarding
this story; however, despite initially agreeing to
provide comment the following day, he later failed
to reply to phone calls and emails.
Natural Diamond Council
releases marketing campaign
The Natural Diamond (NDC) has launched a new
campaign – Real, Rare, Responsible – in a bid to
emphasise the importance of the industry’s core
values.
The campaign features brand ambassador Lily
James following trips to Canada and Botswana.
The NDC is gradually rolling out the campaign on its
platforms before its main launch, which is planned
for the JCK Las Vegas show in May.
Speaking with industry analyst Avi Krawitz on the
Diamond Gems podcast, CEO David Kellie said the
campaign would focus on the industry's core values.
“Those are the three core values of natural
diamonds, and those values resonate wherever you
are in the world,” he said.
“Jewellery differs greatly around the world, and how
diamonds are expressed in jewellery varies greatly as
you travel around the world.
"Retailers who are at the very closest end to
consumers are the ones who have to adapt the most
to their local consumers.”
Kellie added: “When you consider what this industry
has done over the last 20 years in the regions of
the world where diamonds are recovered, how
responsible they are in terms of long-term planning,
the recovery of the diamonds, regeneration of
land, and in creating long-term prosperity for its
communities, it's something we should all be very
proud of, and we shouldn't take it for granted.”
The NDC recently announced that the Okavango
Diamond Company (ODC) is the organisation’s
newest member. ODC is the first non-mining
company to be admitted as a member.
The NDC was founded in 2000 to advance the
integrity of the diamond industry by educating
consumers. It was formerly known as the Diamond
Producers Association.
MORE BREAKING NEWS
JEWELLERMAGAZINE.COM
May 2024 | 15

News
Jewellery Fair: Special visitors
from US heading to Sydney
Australasia’s largest jewellery industry buying group,
Nationwide Jewellers, has confirmed that a delegation
of buyers from the US will attend the upcoming
International Jewellery Fair (IJF) in Sydney.
In 2022, Nationwide Jewellers partnered with the
Independent Jewelers Organization (IJO) and the
Company of Master Jewellers (CMJ) to form the Global
Jewellers Network.
The group's purpose was to share resources for the
betterment of members in each organisation, with the
IJO based in the US and CMJ in the UK and Ireland.
In a new development, it’s been confirmed that 22
members from the IJO will visit the International
Jewellery Fair in Sydney on August 17-19. The IJF
will take place at the International Convention and
Exhibition Centre in Darling Harbour.
The group will be led by IJO owner and chairman Jeff
Roberts. Nationwide general manager Glen Pocklington
said the visit will be an opportunity to exchange of ideas,
particularly regarding marketing strategy.
“We know that our members benefit greatly from
sharing their ideas and challenges with one another,
so we’re really looking forward to seeing what
conversations take place when we bring a group of
independent jewellers from different parts of the US
into the room,” he told Jeweller.
Once inside the Nationwide area of the Sydney Fair,
IJO members will participate in exclusive workshops
and meet with preferred suppliers alongside local
members.
Pocklington said this was just the beginning of the
partnership between the three groups: “Including the
Company of Master Jewellers, we anticipate further
collaborative ventures between our three buying
groups.”
Combined, the three groups represent more than 1,500
independent jewellery stores in nine countries.
Jeweller’s 2024 State of the Industry Report
documented Nationwide Jewellers as the largest buying
group in Australia, with 299 members accounting for
337 stores.
One year later: Arrests made over Canadian gold robbery
Nine people are facing charges over the largest
theft of gold in Canada’s history, which occurred
more than 12 months ago at an international
airport in Toronto.
Authorities confirmed that 6,600 gold bars worth
more than $CAN20 million ($AUD22.66 million)
and $CAN2.5 million ($AUD28.32 million) in
foreign currencies were stolen.
The gold was melted down and used to purchase
illegal firearms.
Misleading advertising: Diamond industry’s war of words
The UK’s Advertising Standards Authority
(ASA) has ruled against a lab-created diamond
company following a complaint about misleading
advertising.
The Natural Diamond Council (NDC) filed a
complaint with the ASA about an advertising
campaign for Skydiamond, which debuted in
February 2023.
The ad featured claims such as “Say hello
to the world’s first and only diamond made
entirely from the sky” and “We make diamonds
using four natural ingredients, the sun, the
wind, rain and something we have too much of,
atmospheric carbon.”
The NDC complaint concerned a lack of clarity
around whether the diamonds were natural or
lab-created.
“Our top priority is to be a resource for the
consumer to educate, inspire and instil
confidence to assure them that they can trust
the product they are investing in, whether
it’s a natural diamond or a laboratory-grown
diamond,” CEO David Kellie told Yahoo.
Skydiamond argued that because the advertising
makes it clear the diamonds are not mined, it did
not require terminology such as ‘synthetic’.
The ASA ruled that Skydiamond’s marketing was
misleading.
The ruling states, “The ASA considered that
consumers would understand the word ‘diamond’
in isolation to mean a mineral consisting of
crystallised carbon that was naturally occurring.”
Among those charged are an Air Canada
warehouse employee and a former Air Canada
manager who gave investigators a tour of the
facility at Pearson International Airport after
the theft.
A jewellery store owner has also been charged.
Authorities have asserted that a truck driver
arrived at the cargo warehouse with a fraudulent
bill provided to an airline warehouse attendant.
A bill for seafood collected the day before was
used to pick up the gold.
"This story is a sensational one and which
probably, we jokingly say, belongs in a Netflix
series," Peel regional police chief Nishan
Duraiappah told The Guardian.
Five suspects were arrested in Canada and
released on bail pending trial.
One suspect from Ontario was arrested in
Pennsylvania.
Warrants have been issued for the remaining
three suspects.
“We considered that while some consumers may
have been aware that synthetic diamonds could
be manufactured or created in a laboratory, many
would not.”
It continued: “We, therefore, considered that ads
for synthetic diamonds needed to make clear the
nature of the product in order to avoid misleading
consumers.”
Skydiamond is owned by Ecotricity founder Dale
Vince. He responded to the ruling by calling it
baseless and a ‘mistake’.
“This complaint is not based on actual confusion
on the part of the customer; it comes from the
trade body for diamond mining companies. It is
an attempt to use the ASA for anti-competitive
purposes, and it is utterly baseless,” he said in a
social media post.
A spokesperson for Skydiamond said the
company intends to appeal the ruling.
16 | May 2024

News
Miranda Kerr named as new global
ambassador for Michael Hill International
Michael Hill International (MHI) has named Miranda Kerr as its first global
ambassador.
The company recently revealed details of a ‘brand revitalisation’, including
a new logo and a rollout of new designs at stores. MHI has now gone a step
further, announcing an 18-month partnership with the iconic Australian model.
Kerr will be featured in Michael Hill’s latest advertising campaign, promotional
activities, brand events, and marketing campaigns.
“This partnership is so special to me because one of my first photoshoots in
my career was with Michael Hill over 20 years ago,” Kerr said.
“I’m proud to support Michael Hill in the next chapter of its journey, just like
they supported me all those years ago.”
She continued: “This next chapter in the brand is super exciting as they
continue to create beautiful, sentimental jewellery that captures the
meaningful moments. I love the campaign and the brand’s new elevated
direction.”
Kerr began modelling as a teenager and rose to fame in 2007 as a Victoria’s
Secret Angel. She has previously worked as a brand ambassador for David
Jones and recently launched a range of skincare products.
In an interview with The Australian, CEO Daniel Bracken said the appointment
of Kerr was an important step in the company’s rebranding efforts, and said he
was optimistic about the path ahead.
“I’m positive for the future. It’s still tough right now, but when you extrapolate
the trends we’re seeing, certainly in Canada or Australia, we feel FY25 will be a
reasonably good year for us,” he said.
“The whole aspirational journey that we’ve been on for the last three years
has been about targeting a more aspirational customer. They’ve got a higher
spending power. We’re capturing more of that segment of the market, and
we’re really happy with that.”
There are 141 Michael Hill stores in Australia. The retailer also operates stores
in New Zealand and Canada.
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News
Unique opportunity to explore
Australia’s iconic opal fields
The Australian Opal Centre (AOC) is accepting
expressions of interest for a tour of Australia’s iconic
gemstone fields in New South Wales, Queensland, and
South Australia later this year.
This special tour, hosted by the AOC, will depart from
Sydney on 25 September. It includes charter aircraft,
ground tours, meals, and accommodation.
Event organiser Maxine O’Brien told Jeweller that it
was an opportunity not to be missed.
“We organised a similar trip around ten years ago
that was very well received, offering an educational
tour to representatives from international gemstone
laboratories,” O’Brien said.
“It’s an opportunity to see things that you wouldn’t see
on any other tour of the opal fields, and I’m sure you’ll
meet many interesting people along the way.”
Beginning in Sydney, the tour travels to Lightning
Ridge in NSW, with participants spending three days
exploring the source of some of the world’s finest
black opal.
There will be a visit the currently under-construction
AOC building, offering a sneak peek at a hub for opal
knowledge, training, science, art, and culture.
The next stop is the opal fields in Winton (Queensland),
home of the boulder opal mining industry. After two
days in the Sunshine State, the tour flies to Coober
Pedy in South Australia, often called the ‘opal capital
of the world’.
The tour's final stop is a return to NSW to visit the opal
fields in White Cliffs.
O’Brien added: “You’ll meet people from all sorts of
different walks of life, all with one common interest –
Australian opal. The last tour was exceptionally good
fun.”
“In the same regard, you’ll be seeing three unique
parts of Australia that are very different in many
ways but are united by their passion for the country’s
national gemstone.”
To register an expression of interest, contact
register@australianopalcentre.com.
Lab-created gemstones banned from US jewellery fair
The American Gem Trade Association (AGTA)
has announced that its trade shows will not
feature lab-created or ‘synthetic’ diamonds and
gemstones beginning next year.
Founded in 1981, the AGTA is based in Texas.
Its website lists eight objectives, the first of
which is “to represent and further the interests
of the natural colored gemstone, pearl, and
cultured pearl industries in the United States and
Canada.”
In a statement, AGTA said that this rule will begin
at the GemFair Tucson 2025, with exhibitors
not permitted to display loose lab-created or
synthetic stones or jewellery featuring these
stones.
“Considering how disruptive lab-grown diamonds
have been in the market, the AGTA [board of
directors] decided to take a stance on manmade
gemstones at its fairs to thwart potential
confusion,” the statement reads.
“It’s perfectly acceptable for AGTA dealers to sell
synthetic gems if they choose and so long as
they are disclosed, but for the sake of clarity and
peace of mind, buyers attending AGTA GemFairs
can shop knowing that only natural gems will be
available for purchase.”
The AGTA hosts an annual fair in Tuscon each
February, which attracts more than 8,000 buyers
and around 300 exhibitors.
A second trade show is hosted in Las Vegas in
May-June.
President of the AGTA board of directors,
Kimberly Collins, said that it was a move
designed to prevent confusion between buyers
and exhibitors.
Anticipation building for Hong Kong jewellery fair
Excitement is rising for the Jewellery and Gem
Asia Hong Kong trade show, which is scheduled
to begin on 20 June.
The first of two major jewellery fairs held in Hong
Kong by Informa Markets each year, the event
returned from a four-year hiatus due to the
COVID-19 pandemic in June of last year.
This year’s fair is expected to feature more than
1,700 exhibitors from more than 30 countries,
occupying 30 pavilions.
Director of jewellery fairs Celine Lau said buyers
will have four days to review and replenish
inventory, preparing for a productive year ahead.
“We do more than just connect people with
products. We offer fresh content that adds depth
and value to the buying experience. After all,
people come to JGA to be inspired,” she said.
The fair offers a wide range of collections,
including fine jewellery, diamonds, pearls, and
colour gemstones.
“AGTA felt that it needed to be crystal clear to
buyers that when they attend an AGTA show, they
know that they are only shopping mined natural
gems from the earth,” she said.
“AGTA dealers pride themselves in sourcing
superior gems that are rare, beautiful, and
natural.”
Sign of things to come?
The increasing popularity of lab-created
diamonds and gemstones, particularly among
younger consumers, has been well-documented
in recent years.
Rob Bates, editor of JCK Online, suggests
that this change in strategy from the AGTA
might indicate that broader industry sentiment
is beginning to shift away from lab-created
gemstones.
“Both the created and natural diamond sectors
are currently struggling. That’s in part due to
the ongoing [and needless] hostilities between
them,” he writes.
“It also may have been inevitable: Lab-grown
diamonds are simply too similar to naturals to
have not made an impact.”
He continues: “The past few years were
extraordinarily good for synthetic sellers,
with manufacturers and retailers raking up
incredible profits. Thanks to super-high margins
that incentivised jewellers to push them on
consumers, some are starting to murmur that
the party’s over.”
Despite these ongoing industry concerns, a
recent study in the US found that nearly half of
couples married in the past year selected a labcreated
diamond for their engagement ring.
There are also dedicated sections for
equipment, packaging, and technology.
New awards show launched
Event organisers plan to go ‘bigger and better’
this year by launching a new competition
evaluating sustainability initiatives across the
industry.
Known as the Sustainability Awards 2024, an
expert panel from the jewellery and gemstone
industry will judge the efforts of businesses of all
sizes.
There are five categories: environmental
stewardship, social empowerment,
manufacturing innovation, community
engagement and sustainability leadership.
Submissions commenced on 5 February and will
close on 30 April. The Jewellery and Gem Asia
Hong Kong fair will be held from 20-23 June at
the Hong Kong Convention and Exhibition Centre
(HKCEC).
18 | May 2024

News
Proceed with caution: Latest insights
after analysis of Aussie jewellery sales
The latest analysis of the Australian jewellery market by Retail Edge Consultants
has unearthed some intriguing trends.
Analysis of data collected from more than 400 independent retailers revealed
that sales in March declined by 5 per cent on a year-on-year comparison and 7
per cent on a two-year comparison.
Retail Edge general manager Leon Van Megen said that measuring against
any month in 2022 and early 2023 is a comparison with what’s known as the
‘COVID-19 bubble’.
“As we work our way into more directly comparable periods, we should start to
see sales come broadly in line with the most recent non-COVID time period,” he
explained.
These insights followed established trends in the sales analysis from February,
which documented a 4.3 per cent decline.
In a positive outcome, the average sale was $257, a 7 per cent improvement
compared with the past year ($241). Unit sales for the month decreased by 10
per cent, marking a third consecutive year of decline in March.
Among the specific categories, diamond jewellery recorded a 12 per cent decline
on a year-on-year comparison and a 28 per cent decrease compared with 2022.
“This major decline in the largest category continues to impact total business
performance. Managing diamond stock remains critical to managing your total
inventory, which continues to be the single biggest driver of the accumulation of
aged stock,” Van Megen added.
“Managing aged stock with a careful plan will help jewellers avoid a cashflow
squeeze. It’s about buying strategically and selling well.”
Silver and alternative metal jewellery improved by 1.1 per cent year-on-year,
while colour gemstone jewellery was close to neutral, with a 0.4 per cent
decrease by the same comparison.
Precious metal jewellery without a gemstone or diamond declined by 0.9 per
cent on a one-year comparison and 19 per cent when compared with 2022.
The pattern in laybys was highlighted by a 5.8 per cent increase in dollar terms
between new orders and pickups or cancellations. Services, including repairs,
decreased by 37 per cent.
There was also a 7.5 per cent increase for special orders in dollar terms
between new orders and pickups or cancellations.

News
The world’s largest diamond
producer might be for sale
Retail rebound continues: Strong jewellery sales in Asia
Anglo American, the parent company of diamond
miner De Beers, has confirmed that it has received
an unsolicited proposal for a takeover.
BHP Group Limited has made a $USD38.8 billion
($AUD59.43) bid for Anglo American, which the
company described as an “unsolicited, non-binding
and highly conditional combination proposal.”
BHP (Broken Hill Proprietary Company) was
founded in 1885 and is headquartered in Melbourne.
By market capitalisation ($USD144.7 billion), it is the
93rd largest company in the world.
CEO of Anglo American Duncan Wanblad told
Rapaport News that the company was open to all
possibilities.
“We are progressing through our asset review to
optimise value by simplifying and improving the
overall quality of the portfolio. Nothing is off the
table,” he said.
Industry analyst Martin Rapaport said that the
sale of Anglo American would open the door for
unprecedented change.
“The primary motivation for the deal is BHP’s desire
to obtain Anglo’s copper mines. Copper demand
and prices are expected to surge as global demand
shifts away from fossil fuels.
“Should the deal go through, we expect De Beers to
be sold off, creating an unprecedented opportunity
for the restructuring of the diamond trade. De Beers
is under pressure due to competition from synthetic
diamonds and weaker demand from China.”
The Wall Street Journal fuelled speculation Anglo
American may be considering selling De Beers.
It reported that the company “held conversations in
recent weeks with potential buyers, including luxury
houses and Gulf sovereign-wealth funds.”
De Beers expects a 10 per cent reduction in output
to 26-29 million carats.
The company reported an optimistic outlook after
the most recent sales cycle.
Hong Kong jewellery retailer Chow Tai Fook has
announced another quarter of increasing sales.
Chow Tai Fook is the world’s second-largest
jewellery retailer in the world by market value,
and in the fourth quarter, the company reported a
12.4 per cent increase in sales.
The statement attributed the increase in sales to
rebounding tourism.
These results come after a positive third quarter
when sales improved by 46 per cent.
The statement reads, “During the fourth quarter,
both mainland China and Hong Kong and Macau
benefited from strong festive demand.
“Demand for gold jewellery remained resilient
in the quarter due to the growing interest in gold
jewellery among young consumers.”
Same-store sales in Hong Kong and Macau
improved by 4.5 per cent, while sales in mainland
China decreased by 2.7 per cent.
Sales of gold jewellery improved by 3.4 per cent in
mainland China and 17 per cent in Hong Kong.
“Our successful launch of dragon-themed
products, including a new design of the HUÁ
Collection, captured positive consumption
momentum for the Lunar New Year celebration,"
the statement added.
“With the dragon's auspicious meaning in
Chinese culture, zodiac-themed gold jewellery
and ornaments gained overwhelming response.”
Jewellery featuring gemstones declined by 20
per cent in mainland China and 27 per cent in
Hong Kong.
Analysis: LVMH reveals modest jewellery sales decline
Luxury conglomerate Louis Vuitton Moët
Hennessy (LVMH) has reported a slight decline in
sales in the opening quarter for its jewellery and
watch brands.
Group revenue decreased by 2 per cent for the
quarter, reaching €20.69 billion ($AUD34.27
billion. Sales among jewellery and watch brands
declined by 5 per cent, finishing at €2.47 billion
($AUD4.09 billion).
Sales were reportedly strong in the US, Europe,
and Japan, with luxury spending boosted by
increasing levels of tourism from China.
LVMH reported a 9 per cent increase for the past
financial year, overcoming a slowdown in sales in
the second half.
Two sons of chairman Bernard Arnault were
recently voted onto the company board at a
shareholder meeting. Alexandre (31) is the vice
president of Tiffany & Co, while Frédéric (29) is
the CEO of Swiss luxury watchmaker TAG Heuer.
Delphine (49) and Antoine (46) are already board
members, leaving the youngest sibling, Jean
(26), as the only one of Arnault’s children not on
the board.
Based in France, the company oversees more
than 75 brands, including Tiffany & Co, Bulgari,
Kering, and TAG Heuer.
20 | May 2024

News
Changing tides: Forevermark to undergo another
rebrand as market strategy evolves further
The De Beers Group has confirmed that
Forevermark will cease supplying loose
diamonds and shift to becoming a jewellery
brand.
The brand will stop using the De Beers name,
reversing a rebrand from three years ago, and
operate its own brand-only stores.
The transition will begin in April 2024 and is
expected to be complete by January 2026.
In a letter to retail partners, De Beers stated that
Forevermark will transition to exclusively selling
finished jewellery.
The brand previously supplied loose diamonds to
retailers.
“Forevermark has played an integral role in
advancing the marketing and retailing of natural
diamonds since its inception in 2008,” the letter
reads.
“As we continue to evolve the brand for a
commercially successful future, we have decided
that, from January 2026, Forevermark will be
refocused only as a jewellery brand.”
From January 2026, Forevermark jewellery will
be sold exclusively in franchised and wholly
owned stores, rather than as products sold
wholesale to retailers.
David Johnson, head of strategic communication
at De Beers, told Rapaport News that India would
be a key focus during the rebrand and said the
company has no plans to sell Forevermark.
“There’s a really strong recognition of the
Forevermark name in India. It’s done really well
as a brand there,” Johnson said.
“There’s often a lot of interest in what
Forevermark is doing in the country. It’s a
place where we’re seeing good performance
for consumer demand for natural diamonds
generally.”
He continued: “We’ve been looking at our strategy
across the De Beers business. Part of that has
been looking at our downstream and retail-facing
activities and considering how best to progress in
that direction.”
The Forevermark brand was launched in
Australia by De Beers in 2013 with Storch &
Co acquiring local distribution rights, with the
products sold through 'authorised jewellers'
including Diamonds International (Brisbane),
as well as Percy Marks and Musson Jewellers
(Sydney). Mazzucchelli's was named an
authorised jeweller later that year.
Available in more than 2,000 store worldwide
today, the brand was initially launched in 2008.
Shopping centres join the fight against retail crime
A national campaign targeting retail crime
across Australian shopping centres has been
deemed a success by trade associations.
The campaign began on Melbourne Cup Day (7
November) and concluded on Christmas Eve
(25 December). Ads appeared on digital screens
at more than 270 shopping centres, comprising
more than 30,000 retailers.
Known as the ‘No One Deserves A Serve’
campaign, it was organised by the Shopping
Centre Council of Australia (SCCA), the Shop,
Distributive and Allied Employees’ Association
(SDA), and the National Retail Association.
According to organisers, the adverts
emphasised the importance of ensuring retail
worker safety and were viewed more than 200
million times by consumers.
SCCA CEO Angus Nardi said that while retail
crime remains a pressing issue, the campaign
succeeded.
“The central purpose of the campaign is retail
worker safety, and I look forward to continued
engagement with the SDA and NRA on this
important issue,” he said.
“While most people do the right thing,
unfortunately, retail crime continues to be a
major challenge, including reoffending, brazen
theft, violence and use of weapons.
“We’ll continue to engage with Governments
on this pressing public policy issue alongside
our industry’s dedicated community safety and
security task force.”
Research from the SDA suggested that
more than 85 per cent of retail workers
have experienced abusive behaviour from
consumers.
Northern migration begins:
Bevilles heads to Queensland
Australian jewellery retailer Bevilles will relocate its
corporate head office and distribution centre from
Melbourne to Brisbane later this year.
This development comes one year after Michael
Hill International (MHI) announced its acquisition of
Bevilles for $45.1 million in April of 2023.
Bevilles was founded in 1934 by Leo and Raie Beville,
beginning with a store in Bourke Street in Melbourne.
The relocation is scheduled to be completed in
July with the alignment of Bevilles and Michael
Hill in Queensland expected to reduce operational
expenses.
In a statement, MHI CEO Daniel Bracken said that
improving operational efficiency was an essential
priority given the current economic climate.
“The Bevilles relocation is not only a reflection of
our strong focus on managing operational costs
in the current retail environment but an excellent
opportunity to leverage the Group’s existing
infrastructure, systems and expertise to drive
Beville’s operational performance and customer
experience,” he said.
This is the latest change from MHI since acquiring
Bevilles. In February, it was revealed that Bevilles
has withdrawn its membership with the Jewellers
Assocation of Australia.
Jeweller's 2024 State of the Industry Report found
that MHI had 141 stores in Australia, while Bevilles
had 30 stores across New South Wales, Victoria and
Queensland.
MHI recently announced that it would begin
‘rebadging’ certain Michael Hill stores under the
Bevilles brand. The retailer's store count is expected
to increase to 36 by July.
MHI operates more than 300 stores worldwide and
reported a 4 per cent increase in sales in the first
half of the financial year.
May 2024 | 21

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News
Pink diamond expected to shine bright at auction
A remarkable pink diamond is expected to make
headlines at an upcoming Phillips auction in
Geneva, commanding an impressive presale
estimate.
The 6.21-carat fancy vivid pink diamond is
expected to return $USD15 million ($AUD22.78
million) at the 13 May auction. The event will be
hosted at the Hotel President Geneva.
More than 100 specially curated pieces from
designers, including Cartier, Suzanne Belperron,
and Van Cleef & Arpels, will also be displayed.
Another notable entry in the auction is the
Amazon Queen, a 280-carat Colombian emerald
from a private collection.
The emerald will enter the sale with a presale
estimate of $USD1.5 million ($AUD2.28 million).
A 27.27-carat fancy vivid yellow diamond ring is
also expected to impress bidders.
It commands a presale estimate of $USD1.1
million ($AUD1.67 million).
Before the auction, Phillips will host exhibitions
of the gemstones and jewellery in New York,
London, Taipei, Taiwan, and Singapore.
This auction comes after a fancy colour yellow
diamond ring was the star of the show at a
Phillips auction in Hong Kong, returning
$USD1.1 million ($AUD1.69 million).
Rare fancy colour diamonds
make waves at auction
Collectors out in force: Records set at Hong Kong auction
Two new records were set at a recent Sotheby’s
watch auction in Hong Kong, suggesting that
collectors' appetite for rare timepieces remains
healthy.
The Hong Kong Important Watches auction, held
on 7 April, raised $USD16.1 million ($AUD24.75
million).
The feature of the evening was the sale of a Patek
Philippe reference 2499 (1960), which provoked
fierce bidding among buyers.
After nearly 20 bids, the watch was sold for
$USD1 million ($UAD1.54 million).
A Patek Philippe reference 2526 was sold for
$USD729,977 ($AUD1.12 million), setting a record
for the highest return for this specific model.
“Patek Philippe's reference 2526 needs no
introduction and is arguably one of the greatest
time-only watches of all time,” writes Kayan
Wong of The Value.
“The first automatic watch ever introduced by the
prestigious maison [brand], it was designed to be
extraordinary from the outset – new movement,
exemplary finishing, and fitted with enamel dials
of the highest quality.”
It was a similar story with the sale of a platinum
Cartier Paris Cloche, No. 1/1, which returned
$USD210,882 ($AUD324,142) – also a record for
that specific model.
Sotheby’s said in a statement that nearly half
of the pieces at the auction sold for above their
presale estimate.
The passion for fancy colour diamonds has yet
to show signs of slowing at recent international
auctions, fetching impressive returns.
A fancy colour yellow diamond ring was the headline
act at a Phillips auction in Hong Kong, returning
$USD1.1 million ($AUD1.69 million).
The round brilliant-cut, 15.51-carat fancy vivid yellow
VS2-clarity diamond fell within its pre-sale estimate
on 28 March.
The auction returned $USD4.1 million ($AUD6.29
million) in total, with 73 per cent of items sold. Head
of jewellery Benoît Repellin said it was pleasing to
see the passion for remarkable diamonds remains
strong.
“The sale total for our spring auction in Hong Kong
increased by 20 per cent over the previous season,
demonstrating the resilience of the global demand
for rare and important jewels across the board,” he
said.
“Fancy colour diamonds commanded the sale.
Vintage signed pieces also performed well. We also
saw notable demand for [the] finest Burmese rubies,
emeralds and sapphires.”
Among the other items of interest was a 1985 Van
Cleef & Arpels necklace, set with brilliant-cut
diamonds and cabochon turquoise. The necklace
returned $USD584,000 ($AUD895,000), more than
three times its pre-sale estimate.
May 2024 | 23

10 Years Ago
Time Machine: May 2014
A snapshot of the industry events making headlines this time 10 years ago in Jeweller.
Historic Headlines
Diva jewellery stores shutting down, or maybe not!
Jeweller now world’s Number One!
Cartier jewellery sparkles in Grace of Monaco
Swatch moves to stop iWatch trademark
New record set for jewellery sale – then broken!
Miranda Kerr reveals new
Swarovski vision
Global jewellery giant Swarovski recently
chose Sydney as the location to unveil its
new international brand vision, with the
events hosted by supermodel and company
ambassador Miranda Kerr.
Swarovski’s new marketing strategy – or
brand vision – aims to promote its product
offering as jewellery that is versatile and
suitable for “everyday wear”.
Patrik Hauert, Swarovski managing director
consumer goods business Australia and
New Zealand, told Jeweller, “We are trying
to increase awareness of Swarovski as a
premium brand. We want consumers to see
that they can wear Swarovski jewellery for
everyday occasions, such as for work and
when they meet with friends.”
Opal market improves locally
and internationally
Local and international demand for Australian
opal is on the rise, according to the organiser of
an upcoming opal exhibition.
Australian Opal Exhibition coordinator Maxine
O’Brien told Jeweller that the number of
opal buyer visits to Lightning Ridge in New
South Wales in particular had “increased
quite dramatically” in the past year, and that
exploration and mining activity on the black
opal fields around the region was ramping up.
O’Brien said that international interest in
Australian opal was also increasing, with
demand improving in the United States, Europe,
China and Japan, despite – or possibly due to
– a recent setback from overseas competition.
“Over the previous five years, Australian opal
sales were impacted by the large production of
hydrophane opal coming out of Ethiopia,” she
explains.
Editor’s Desk
Greater prominence of Euro brands
"I remember discussions years ago with
various suppliers and retailers who were
saying things like “Branded jewellery will
never take off.”
They offered various reasons for this –
jewellery is too small a product to
carry a brand label; consumers don’t
care; consumers just want to wear
something nice; and other seemingly
relevant reasons."
Soapbox
May 2014
ON THE COVER Julie Sandlau
It’s not all tinfoil-hat kookiness
“The very technology that will be
integrated into our bodies has an
umbrella term: nanotechnology.
This is basically a broad term applied
to tiny robots working away at specific
tasks at a microscopic level.
It is nanotechnology that will eventually
bring about the birth of the diamond
that is in all respects identical to the
real deal mined from the ground –
something that is bound to wreak havoc
in the market."
Khay Amani Wahaab,
K. Amani Fine Jeweller
STILL RELEVANT 10 YEARS ON
“Investing in advertising through social
media is something many businesses
would have considered, while also
wondering what types of benefits it
would draw. Such thinking makes perfect
sense; with more than one billion users
worldwide, social media platforms can
offer jewellers looking to advertise new
products a fair advantage.”
Gold jewellery demand
highest since 2005
Gold jewellery has made a strong start in
2014, with global demand in the first quarter
reaching its highest volume in a decade.
READ ALL HEADLINES IN FULL ON
JEWELLERMAGAZINE.COM
Although the World Gold Council’s Gold Demand
Trends: First quarter 2014 report described the
three per cent increase in gold jewellery demand
to 570.7 tonnes as “modest growth”, it also stated
that this was the largest recorded first quarter
volume since 2005.
This boost in demand was primarily attributed
to lower gold prices; the average price in United
States dollars was 21 per cent lower than in the
previous year.
The drop in gold price was echoed in other
markets with European and Chinese consumers
said to have particularly benefited from a similar
lower-price environment.
Valuable lessons from the
Bevilles collapse
When Bevilles collapsed owing $14 million,
and being the first major jewellery retailer
to fail in 18 years, the chance to dissect a
disaster was too good to pass up.
The recent collapse of the 27-store jewellery
chain Bevilles caught many by surprise,
especially given that late last year the business
announced a major rebranding project that
included the roll out of “new-look” stores across
Australia.
In addition to a new logo and tagline “Feel
Fabulous”, Bevilles made plans to enhance
the shopping experience with a streamlined
store layout and a fresh colour scheme. It also
planned to offer a greater selection of diamond
jewellery and watches.
24 | May 2024

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May 2024 | 25

Behind every gemstone,
there is a fascinating story
waiting to delight clients
around the world. Studying
with GAA brings the
expertise, networking and
confidence to build a solid
career in a multimilliondollar
industry. Joining
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26 | May 2024
Passionately educating the industry, gem enthusiasts
and consumers about gemstones

REVIEW
Gems
Gemmologists who changed the game:
Sylvia Whincup
In the latest addition to Jeweller’s
‘Gemmologists who changed the game’
series, it’s time to shine a light on the
contributions of Sylvia Whincup.
Born in 1921, Whincup was a pioneering female
figure in earth sciences and gemmology in
Australia. She graduated from Melbourne
University in 1942 with a Bachelor of Science
degree in geology and chemistry and completed
her Master of Science in 1943.
She was married to Charles Reginald Whincup,
a Royal Australian Air Force flight officer who
died while serving in the Second World War.
Whincup gave birth to their son, Peter Reginald
Whincup, in 1944, the same year she published
her master’s thesis.
In 1946, Whincup was appointed a mineralogist
at the National Museum in Melbourne.
Museums Victoria notes that she was the first
person appointed to this official post and was
tasked with reorganising and registering the
museum's mineral and rock collection.
Her appointment received media coverage
due to her specialised skillset and, in part, her
success as a woman in such an important role.
A feature article about Whincup, 'Rocks Are Her
Livelihood,' was printed in The Argus in July
1947. It describes her position at the museum
as a "most remarkable job for a woman".
Whincup expanded the museum's collections by
sourcing mineral specimens and encouraging
her colleagues to do the same.
In an article titled ‘Sylvia Whincup: A Prolific
Collector and Groundbreaking Mineralogist’
written for Museums Victoria, Nik McGrath and
Robert French reflected on the contribution
made during her time at the museum.
The authors noted that Sylvia added more than
5,000 specimens to the collection, including 167
new species — an increase of over 30 per cent
in just four years.
Whincup’s passion was evident in her work
and the time she spent fossicking, and she
frequently donated mineral specimens to the
museum's collections.
Sylvia Whincup numbers a crystal topaz from the National Museum of Victoria in Melbourne. Source: National Archives.
From the 1940s, the profession of gemmologist
was becoming recognised within the Australian
jewellery industry, and formal education
pathways were beginning to emerge.
An initial course in gemmology was offered
through the Federated Retail Jewellers
Association (FRJA) until 1942-1943, before
a dedicated institution, The Gemmological
Association of Australia (GAA), was founded in
October 1945.
Whincup dedicated her time to the newly
formed GAA, giving weekly lectures to
members at the Melbourne branch. The
Sciences Collections Online Coordinator for
Museums Victoria, Dr Ursula Smith,reflected on
Whincup’s legacy.
"She was keen to encourage people to visit
the collections and learn about them and
was instrumental in setting up the museum's
first gem displays [and was] particularly
interested in gemmology, training members
of the Gemmological Association in gem
identification,” writes Smith.
Whincup remarried in 1950 to Bob Whitehead,
another geologist, with whom she would have
two sons,Richard and Brian.
Unfortunately, this cut short her career at
the National Museum of Victoria due to the
imposed bar forbidding married women to work
in the Commonwealth Public Service.
Whincup moved from Victoria to South Australia
to work as a petrologist for BHP and the
Australian Mineral Development Laboratories
(AMDEL) until her retirement in 1981.
Whincup died on 12 November 2012. Today, the
public can appreciate Whincup's contributions
to the National Museum of Victoria through the
extensive mineral collection, many of which she
collected and donated.
She was a pioneering figure during a time
when it was difficult for Australian women to
progress professionally. She navigated personal
tragedy and motherhood while trailblazing a
career in the earth sciences.
Teaghan Hall is a fine art graduate with a
specialised interest in antique jewellery. She works
in the antique jewellery trade and has written for
various industry publications while studying with
the Gemmological Association of Australia.
For more information on gems and gemmology,
visit www.gem.org.au
May 2024 | 27

ADDENDUM TO THE
2024 STATE OF THE INDUSTRY REPORT
O ffT h eG r i d :
Jewellers without a website
Business ‘experts’ and retail analysts constantly emphasise the importance of digital marketing.
Why are so many of Australia’s independent jewellery retailers operating without a website?
KEY FINDINGS: AT A GLANCE
600+
Australian independent
jewellery retailers do not
have a website.
A startling number of
independent jewellery
retailers still don't have
a website, despite the
popularity of online
shopping.
Age is a likely
explanation as to why
so many independent
retailers are avoiding
the internet.
250+
Independent jewellers
have no digital
presence whatsoever
More than 40 years after the term ‘e-commerce’
was coined, you could be forgiven for believing
that nearly every retail business in Australia would
have a website.
If you were to make that assumption about the
jewellery industry, you would be very wrong.
One of the most interesting findings during the
six-month research phase of the 2024 State of the
Industry Report (SOIR) was the startling number of
jewellery retailers without a website.
Of the 2,010 independent jewellery stores in
Australia, around 600 (30 per cent) did not have a
website. Research indicates that of those, around 280
have digital presence via Facebook (14 per cent of the
market) while another 55 (3 per cent of the market)
use Instagram as their primary digital presence.
The study therefore shows that more than 250 retail
jewellers (13 per cent of the market) have no digital
presence whatsoever.
Over the past three decades, consumers have
increasingly turned to the Internet for shopping. The
launch of eBay and Amazon in 1995, PayPal in 1998
and Apple Pay in 2014 were landmark moments.
The popularity of social media has accelerated this
evolution of consumer preferences, with the rise of
Facebook (2004), Instagram (2010), and TikTok (2017),
each compelling retailers to adapt to this
new economic environment.
As documented in Grey areas: Jewellers operating
without a store – the two-year global COVID-19
pandemic appeared to be the straw that broke the
camel's back.
The viability of jewellery businesses that utilise
websites and social media instead of traditional
storefronts has become higher than ever. Many
of these businesses thrived during the pandemic,
discovering new low-cost business models out
of necessity and maintaining them despite the
pandemic's conclusion.
Indeed, there seems to be a baffling contradiction
in play. While many businesses are finding success
relying entirely on the Internet, an arguably larger
section of the industry appears to be content without
any digital presence!
Boots on the ground
These two groups almost seem diametrically
opposed — retailers without stores and retailers
without websites — yet they have found success in
the same circumstances.
Colin Pocklington, managing director of Nationwide
Jewellers, was surprised to discover that so many
retailers continue to operate without a website.
Nationwide is the largest buying group in Australia,
with 299 members accounting for 337 stores.
TABLE 1: THE ROUND FIGURES
Category Number %
Total independent jewellery stores 2,010 100%
Businesses with no website 600 30%
Businesses that use Facebook 280 14%
Businesses that use Instagram 55 3%
Sub-Total 335 17%
Businesses with no digital presence 265 13%
He says that while travelling the country and visiting
stores, conversations with store owners often begin
with the business' online presence.
“Whenever our representatives visit stores in person,
websites are one of our focuses. We always check
their online presence before we go in and see them
in person; it’s a great conversation starter,” he tells
Jeweller.
“I was surprised to hear how many retailers still
don’t have a website. You really would think that
nearly everyone would have one by now.”
Not all those contacted for this report were surprised
by the number of jewellers who operated without a
website.
Showcase Jewellers is the industry’s secondlargest
buying group, representing 153 members
and 183 stores.
Managing director Anthony Enriques says these
figures aligned with his expectations and explains
that many jewellers lack confidence regarding
digital marketing.
“Those sorts of figures would probably resonate with
what we see and hear among our membership," he
explains.
"I’ve noticed a lot of hesitation in the jewellery
industry when it comes to embracing digital
marketing."
He continues: "In other retail sectors, we’d
certainly expect to see a higher level of
social media engagement.”
Diving deeper
In October, Jeweller undertook a retailer survey,
which received responses from more than 200
independent retailers, estimated to be around
10 per cent of the market.
These findings were particularly interesting as
they relate to digital marketing.
Retailers were asked the following prompt: My
business is now more profitable than it was
before the COVID-19 pandemic.
Around 33 per cent of participants answered either
‘strongly agree’ or ‘agree’, a positive outcome given
the two-year pandemic that preceded the survey.
More than 37 per cent of participants answered
‘disagree’ or ‘strongly disagree’.
Retailers were also survey on a second topic:
My website and digital marketing activities generate
a significant portion of sales for my bricks-andmortar
store.
The results to this question were almost perfectly
28 | May 2024

2024 STATE OF THE INDUSTRY REPORT
JEWELLERS WITHOUT A WEBSITE
CHART 1: DEMOGRAPHICS, RETIREMENT, AND PROFIT: WHY ARE JEWELLERS AVOIDING THE INTERNET?
My website and digital marketing activities
generate a significant portion of sales for my
bricks-and-mortar store.
I intend to retire or sell my business
within the next five years.
My business is now more profitable than it was
before the COVID-19 pandemic.
Strongly
Agree
Strongly
Agree
Strongly
Agree
6.80%
Agree
Agree
Agree
26.21%
Neither agree
nor disagree
Neither agree
nor disagree
Neither agree
nor disagree
29.13%
Disagree
Disagree
Disagree
28.16%
Strongly
Disagree
0% 10% 20% 30% 40%
Strongly
Disagree
0% 10% 20% 30% 40%
Strongly
Disagree
9.71%
0% 10% 20% 30% 40%
How can it be that despite the popularity of online shopping, more than 600 independent jewellery retailers in Australia do not have a basic website? The answer is multi-faceted, and many important factors
are highlighted by the responses to Jeweller’s retailers survey. Among the contributing factors are the demographics of store owners, who may be considering the sale of their businesses or retirement.
Interestingly, businesses that reported an increase in profitability have also asserted that their website and digital marketing activities generated a significant portion of sales for their bricks-and-mortar store.
split down the middle, with 33 per cent of responses
answering ‘strongly agree’ or ‘agree’, while 32 per
cent answered ‘disagree’ or ‘strongly disagree’.
These answers become particularly interesting when
the responses are cross-examined.
Among those who answered affirmatively to the first
question – indicating that their business is more
profitable now than before the pandemic – nearly
half (44 per cent) answered affirmatively to the
second question.
That is to say, among retailers with businesses that
are more profitable following the pandemic, digital
marketing is viewed favourably in relation to sales.
This point can also be made by taking the opposite
approach. Among those who answered negatively to
the first question — indicating that their business
is less profitable now than before the pandemic
— just 26 per cent had a favourable view of digital
marketing.
This might appear to be a conclusion that could be
reached without the survey – profitable businesses
are more likely to think positively about a common
sales strategy such as digital marketing.
However, in light of the number of businesses
without a website, it’s an interesting insight
all the same.
Why wouldn’t you have a website?
Logically, there are two reasons why a retail jewellery
business would not have a website.
Either the business owner feels that they do not
need one, or they would like to have one but, for
some reason or another, do not.
The most common explanation is the latter. Whether
it be because they are unfamiliar with digital tools
or lack time, many jewellery store owners simply
‘haven’t gotten around to it yet’.
While it may be unfair to stereotype, age may also
be an issue in this regard.
Older business owners are less likely to be familiar
and comfortable with digital technology.
There is also distrust in the businesses that offer
website development.
Pocklington says that, in his experience, there are
four core reasons retailers don’t have websites, “it’s
too hard, it’s too time-consuming, it’s too expensive,
and I don’t know where to get started,” he says.
“Most retailers without a website will raise at least
one of these four points.
"Acknowledging the need for digital marketing is
rarely an issue; however, these are the common
explanations.”
Enriques says that when addressing the fourth
point – confusion about where to begin – it’s
important to break it down into three stages.
“You would begin with a static website, something
that shows who you are, what your business
does, and where it’s located without requiring
any maintenance,” he explains.
"Older business owners
are less likely to be
familiar and comfortable
with digital technology. "
“The next stage is to start showcasing stock and
highlighting the more interesting things the business
has to offer.”
He continues: “The final stage would be stepping up
to a full e-commerce website, where customers can
purchase online and have it delivered without the
need to visit a store in person.”
Establishing an e-commerce operation can be
daunting and, with more elaborate websites,
cost-intensive.
Many business owners do not have the budget to
hire a digital marketing manager.
It’s a matter of horses for courses – smaller
retailers, particularly those in country or rural
locations, rarely require a large e-commerce
operation.
With that said, Enriques says that retailers should
remain open to the same possibilities.
“Even if you are an independent retailer in a nice
sleepy beachside community, maybe you don’t need
an entire e-commerce operation, but it’s important
to have a digital presence,” he says.
“At a minimum, you should have a website that lets
the world know you exist. If, for example, you’re
located in a holiday destination, someone might
visit your store and see something they like but not
purchase on the day.”
He continues: “Time passes, and perhaps that
visitor decides that they would like to purchase that
jewellery after all. Without a website, that’s a sale
you’ve missed out on. Something like that might only
happen rarely, but it’s a sale all the same.”
Retirement
Enriques also says it’s essential to be mindful of
the average of jewellery store owners in Australia.
With that in mind, reflecting on another question
asked in Jeweller’s survey of retailers is interesting.
Participants were asked their age, and more than
58 per cent answered 55 or older.
Participants were given the following prompt:
I intend to retire or sell my business within
the next five years.
More than 38 per cent of responses indicated either
‘strongly agree’ or ‘agree’, while a further 16 per cent
were undecided. This suggests that the jewellery
industry is amid a period of great change, perhaps a
‘changing of the guard’.
“While there are exceptions to the rule, older
business owners are generally less tech-savvy
than their younger counterparts and give less
consideration to digital marketing,” Enriques adds.
If you’re considering retirement or contemplating
selling your business, there may be little incentive
to invest the resources required – particularly if your
business is already profitable without it.
Choosing to abstain
There exists a smaller group of jewellers without
websites, which is arguably even more interesting –
those who choose not to have one.
While it’s a strategy that ‘swims against the tide’ in
retail trends, there are many reasons why a retailer
may choose to have little digital presence.
May 2024 | 29

2024 STATE OF THE INDUSTRY REPORT
JEWELLERS WITHOUT A WEBSITE
IN A NUTSHELL
4 Common Reasons
Why independent jewellers don't have websites
"I think it's
too expensive"
"I don't have
enough time"
"I find it
too difficult"
"I don't know
where to begin"
Launching a business website can
be an expensive process and has
been described by some retailers
as an 'extra rent'. Many retailers
do not have the budget to hire
a social media marketing manager.
Owning and managing a business is
a time-intensive task. Independent
jewellery retailers, who often still
work in the business, do not have
the time required to execute, oversee,
and maintain a business website.
To avoid the costs associated
with outsourcing the creation of
a business website, many retailers
do it themselves – this requires
time and technical knowledge,
which can be overwhelming.
Few jewellery retailers without a
website deny the need for a website
and social media presence. That said,
with so many factors to consider,
knowing where to begin can be
daunting enough to avoid ever starting.
Perhaps the most interesting point to be made
concerns competition and comparison. When a
jewellery business is online, it is subject to constant
comparison with retail rivals for consumer spending.
While chain stores and independent retailers are
unique business models – and many feel that they
are competing for different consumers – the
products overlap in many areas.
In this regard, the scale of jewellery chains plays a
large part. For example, Michael Hill International’s
digital marketing efforts support every store in the
network.
Each consumer marketing activity that increases
the business profile is shared among many stores.
Conversely, for independents, efforts to promote the
business online benefit that store alone – and in a
crowded market, standing out is difficult.
Pocklington suggests that while a handful of
Australian retailers may be ardently ‘anti-website’,
they are increasingly rare.
“These days, everyone is more or less willing
to acknowledge that they need to have a digital
presence,” he explains.
“Ten years ago, it was a different story, and many
business owners would argue that they don’t need
the internet; however, over the past decade, the
industry has largely moved past that mentality.”
It’s been said that anything worth doing is worth
doing right.
It’s also possible that many business owners are
concerned that they won’t have the time, money, or
resources to organise a website that’s worthy of their
business and products.
Product photography is expensive, and if a business
specialises in engagement rings, would you want
these products displayed online with images taken
using a smartphone? Probably not!
So, rather than launch a half-hearted website that
may leave a ‘bad taste’ in the mouths of consumers,
they avoid that issue by not having a website.
Enriques offered a different perspective and suggests
that this rare breed of ‘traditionalists’ are likely still
out there, admittedly in fewer and fewer numbers
with each passing year.
“I can’t speak for everyone, and there are many
different reasons why a business may not have a
30 | May 2024
website; however, I would say that there are probably
a few people out there who simply don’t want one,”
he says.
“They might have the budget for a website or an
e-commerce operation, but they’ve found their
particular niche, sales are good, and they don’t
feel the need to go online.”
He said: “It might simply be a matter of a business
sticking with what it’s always done well – sitting
down at a bench and making beautiful jewellery
while speaking face-to-face with customers.”
"For those steering clear
of the internet, selling
jewellery face-to-face has
many advantages that
the internet may never be
able to match. "
By abstaining from the ‘digital world’, these business
owners can avoid the pitfalls of comparison and
emphasise independent retailers' strengths:
bespoke and custom-made pieces partnered with
strong personalised customer service.
Maybe they’re onto something?
As mentioned earlier, it would seem contradictory
that both ‘jewellers without websites’ and jewellers
without stores’ could find success simultaneously.
While consumers are increasingly turning to the
internet when it comes to spending, certain studies
have suggested that the preference for many remains
an in-person experience.
The latest Australian Retail Report, conducted by
financial technology company KPMG, found that local
consumers prefer in-store shopping compared with
their US and UK counterparts.
Australians reported that they preferred shopping in
person because they wanted to see products up close
and needed personalised customer service.
A further 48 per cent of respondents said they
specifically attend stores for the customer service
provided or to get help when they’re struggling
online.
Meanwhile, 34 per cent say they have rediscovered
the enjoyment of touching or trying products in a
store before purchase, which they had missed during
COVID-19 lockdowns.
While these are revealing insights, what should be
made clear is that Australian jewellery retailers can
find success with or without the internet.
For those capitalising on digital tools, the internet
offers access to a wide range of potential customers
in a competitive online arena.
For those steering clear of the internet, selling
jewellery face-to-face has many advantages that
the internet may never be able to match.
The latter are often ‘destination jewellers’;
craftspeople whose skill, expertise, creativity
and reputation account for far more than the
internet can offer.
To them the word ‘like’ refers to a customer’s
preferences, or perhaps the quality of their work,
and not a social media post.
SOIR ADDENDUM EXPLAINED
This article is an addendum to the State of the Industry
Report
published in December 2023. The purpose of the
six-month study into the Australian jewellery industry is
two-fold – it’s a historical document offering an in-depth
examination of the trade from which a glimpse of the future
may be obtained.
As is often the case with studies of this nature, the research
often uncovers unexpected insights. These include significant
changes due to advances in technology, the evolution of
consumer habits and expectations, and the unforeseen
impact of an unprecedented global pandemic.
In some cases, the space allocated to specific sections of the
report was insufficient because of the additional detail and
information obtained. This article is one such case where it
was noted that a significant amount of jewellery businesses
do not have a website, despite the increasing popularity of
social media and online shopping.
There is a host of additional information uncovered during
the SOIR research period, which was also unable to be
included in the initial report due to space and time limitations.
Jeweller
will continue to publish addendums to the SOIR to
analyse and clarify an ever-changing industry.

Why do more
independent jewellers
choose Nationwide?
Strength in Numbers
Better Buying
Business Coaching
Innovative Marketing
Member Rewards
Travel Opportunites
“Our members’ stores are located all over Australia and New
Zealand. Metropolitan or suburban, regional or remote; they are
a mix of design, manufacturing and purely retail businesses.
What all our members have in common is their passion for the
jewellery industry, and of course their independence.”
— Glen Pocklington, General Manager
May 2024 | 31
+61 2 9418 0000 • info@nationwidejewellers.com • www.nationwidejewellers.com

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32 | May 2024

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34 | May 2024

GOLD FEATURE
Bolder than Ever
YEAR OF THE DRAGON
GLORY
GOLD
A timeless symbol of prosperity and
luxury, gold jewellery has been adored for
thousands of years. SAMUEL ORD explores
the evolving world of gold jewellery trends.
L to R: Bvulgari; Carrera y Carrera; Soklich & Co.

CLARTE
GEMIINI BANGLE
& EARRINGS
CARTIER
PANTHÈRE DE CARTIER
G
old jewellery has always been a
crucial category for retailers;
however, this year, there’s something
different in the air.
Gold has been adored for thousands of years
because of its malleability, versatility, and
aesthetic beauty. Whether times are tough
or it’s smooth sailing, consumer passion for
gold jewellery is always high.
So, what makes this year different?
Chinese astrology is one of the oldest systems
in the world, and in the lunar calendar, we
have arrived at the fifth of the 12-year cycle
of animals – the Year of the Dragon.
For those born this year, the auspicious colour
is gold.
Wearing gold jewellery can enhance your style
and symbolise success, wealth, and honour,
and according to traditional beliefs, potentially
influences your prosperity.
Gold is thought to possess strong positive
energy and is considered a symbol of royalty
and nobility.
Unsurprisingly, bestowing friends and family
with gold jewellery is a popular trend during
the Year of the Dragon.
Gifting a gold pendant, bracelet, ring, or
earrings isn’t just a kind gesture – it’s a wish
that the recipient will enjoy good fortune in the
coming year.
The importance of gold this year was reflected
in the most recent financial report from Chow
Tai Fook, the world’s second-largest jewellery
retailer.
"We have arrived at
the fifth of the 12-year
cycle of animals –
the Year of the Dragon.
For those born this
year, the auspicious
colour is gold."
The company reported a 12.4 per cent
increase in sales in the fourth quarter,
which it attributed to festivities in China
and Hong Kong.
“Demand for gold jewellery and products
remained resilient in the quarter due to the
growing interest in gold jewellery among young
consumers,” the report reads.
To capitalise on this trend, Chow Tai Fook
released a series of new dragon-themed
products and designs, including new designs
for the HUÁ Collection.
It’s a trend that goes beyond jewellery.
Luxury watchmaker Chopard released the Year
of the Dragon watch with Urushi lacquer, gold
powder, and mother-of-pearl inlays within an
18-carat rose gold case.
The Perth Mint has also joined the celebration,
releasing a one-ounce gold bullion coin
featuring a dragon on one side and a Queen
Elizabeth II memorial obverse on the other.
While it’s true that this year is expected to be
a boom for gold jewellery, it’s important to
remember that this is not a new phenomenon
– and this consumer passion isn’t confined to
this year alone.
This year will be the latest chapter in a story
that’s been unfolding for millions of years, and
your store must be ready to meet the needs of
these devout consumers.
From the beginning
From its use in early economic systems to
the evolution of fine jewellery and adornments,
gold has played a significant role in
civilisations and cultures for thousands of
years.
Gold is easily shaped and moulded as a soft
metal, making it the ideal candidate for
36 | May 2024

MUGHAL GOLD & 125-CARAT
EMERALD PENDANT / BROOCH
1526–1857AD
HELLENIC GOLD FILIGREE
ARMBAND
200 - 300AD
CHINESE QING PERIOD GOLD &
AMETHYST DRAGON MEDALLION
1736 - 1795AD
jewellery. Gold is also resistant to tarnishing
and rusting, meaning the warm glow of the
precious metal has long been an apt symbol of
eternal prosperity for the rich and powerful.
The earliest known examples of gold jewellery
can be traced to 4400 BC; however, it was likely
worn earlier. Archaeologists in Bulgaria have
discovered hundreds of pieces of gold jewellery
from the Thracian era.
Among the notable treasures was a pair of
gold earrings highlighted by an engraving of
an animal's head, which was preserved in a
monument.
In Ancient Egypt (3100 BC), gold jewellery was
worn by the wealthiest members of society.
Gold was used in abundance by pharaohs. In
1922, when the tomb of King Tutankarmum
was discovered, it was packed with gold.
The Australian Museum in Sydney recently
hosted the Ramses & the Gold of the Pharaohs
exhibition – showcasing jewellery that is more
than 3,500 years old. Among the necklaces,
bracelets, rings, earrings, amulets, and
diadems was the Collar of Psusennes I,
weighing 4.3 kilograms.
Collars of this type were known as the shebyu
or ‘gold of honour,’ traditionally given by a
pharaoh to officials who had served with
particular distinction. Pharaohs also wore the
collar as a mark of divine favour.
The culture of Ancient Greece (1200 BC)
mirrored these beliefs, with elaborate jewellery
worn by aristocrats to symbolise their power.
The Greeks also believed that gold offered
protection from evil forces.
"A widespread belief
among the Incas was
that gold is tears from
the sun. "
A wide variety of jewellery was produced in
the Hellenistic period, including earrings,
necklaces, pendants, pins, bracelets,
armbands, thigh bands, finger rings,
wreaths, and diadems.
Bracelets were often worn in pairs according
to Persian fashion, and jewellery was
frequently produced in matched sets.
While silver was more widely available in
Ancient China (2070 BC), gold jewellery was
popular nonetheless. It was worn by men and
women and believed to protect the wearer from
misfortune.
The cultural significance of elaborate gold
jewellery in India was so significant that many
of these beliefs remain active today.
During the Mughal Empire (1526-1719), gold
jewellery was thought to offer protection to
its wearer and increase the chances of future
fortune.
As such, it was popular among royalty. These
beliefs evolved into the custom of gifting gold
jewellery to brides to ensure future financial
security, a tradition that continues today.
Cosmic charm
A widespread belief among the Incas (1438-
1533) was that gold is tears from the sun. It’s
remarkable to compare this mythology with our
modern scientific understanding.
When two neutron stars collide, the explosion
involves enough pressure to forge elements
heavier than iron – including gold.
It’s believed that these gold particles were
mixed in a cosmic cloud of gas, with dust
expelled into space from the supernova that
formed Earth.
The gold sank into the Earth’s core but rose to
the mantle and crust after asteroid strikes. If it
hadn’t been for this bombardment from space,
much of the gold mined today likely would’ve
been too deep underground.
May 2024 | 37

MEJURI
PATRA DIAMOND BRACELET
& HOOP EARRINGS
LOUIS VUITTON
VIVIENNE DRAGON
BROOCH/PENDANT
Gold is found in rock ore worldwide; however,
the majority is believed to be at the bottom of
the ocean.
Rocks containing gold have moved to the
surface over time, experiencing erosion. The
gold in these rocks is washed into creeks and
rivers, forming alluvial deposits.
It then becomes concentrated in recesses
and troughs, as gold is heavier than much of
the matter captured by flowing water. These
deposits ignited the Gold Rush in Australia in
the 1850s.
Blessed soil
According to a report published by the World
Gold Council (WGC) in 2021, more than
205,000 metric tonnes of gold have been
mined throughout history.
It was estimated that a further 53,000 tonnes
remained beneath the earth in previously
identified reserves, with Australia hosting
around 19 per cent of the global supply.
It isn’t easy to calculate the exact amount of
unearthed gold – the greater the depth, the
more expensive it is to extract – particularly
under the sea.
Looking closely at today’s climate, the WGC
has predicted a stable gold market in 2024.
In particular, analysts have outlined three
likely scenarios.
38 | May 2024
4 | November 2022
The first was a 65 per cent chance of a
soft landing in the global economy for 2024,
which could deliver flat growth for gold and
upside potential.
A hard landing or recession was given a
25-55 per cent chance of occurring,
sending gold prices much higher than
current record levels.
"According to a report
published by the World
Gold Council (WGC)
in 2021, more than
205,000 metric tonnes
of gold have been mined
throughout history."
The final scenario was the status quo, which
had a 10 per cent chance of happening in
2024. This likely results in a flat outlook for
bullion prices.
Gold jewellery demand remained resilient
despite these record prices. Consumption
was fractionally higher in 2023 compared to
the previous year.
After a relatively weak year, China was
the primary source of increasing demand;
however, other intriguing areas of improved
demand, such as Turkey, also contributed.
Conversely, the price of gold significantly
impacted demand in India.
In Australia, there was a six per cent decline
in jewellery demand in 2023. This resulted
from consumer cost of living pressures and
the increasing impact of rising prices.
Where to begin?
Given gold's timeless cultural significance, it
should come as no surprise that it’s such a
crucial category for jewellery retailers. When
discussing gold jewellery, it’s folly to overlook
the importance of chains.
What makes gold chains so powerful is their
endless variety — from thin metallic strands
to larger-than-life statement chains, there’s
something for every occasion.
Retailers can offer
delicate gold chains that
are ideal for a natural
look or big-and-bold
chains that command
attention.
Layered and long chains
add versatility, while
lariats elongate the next
for a sophisticated and
seductive look.
PANDORA
DRAGON CHARM

Discover timeless elegance at
Athan Wholesale Jewellers in
Melbourne's iconic Manchester
Unity Building. Since 1998, we've
supplied Australian and New
Zealand retailers with the finest
Italian gold chains and accessories.
With a rich heritage in the
industry, our family-run business
offers a carefully curated collection
of 9- and 18-carat gold pieces in
diverse designs. From timeless
chains to tennis mounts and
bracelets, each item is meticulously
crafted in Italy.
Experience exceptional quality
and service with Athan Wholesale
Jewellers, where tradition meets
contemporary style.
03 9663 2321
INFO@ATHAN.COM.AU
WWW.ATHAN.COM.AU
602/220 COLLINS ST, MELBOURNE VIC 3000
November 2022 | 5

TIFFANY & CO.
HARDWARE BRACELET
ATHAN
GOLD HUGGIES &
TENNIS BRACELET
“One could argue that the gold chain necklace
is the most ubiquitous accessory of all time,”
writes Samantha Solomon for Vogue.
“The style, which was championed by both
ancient Egyptian rulers and early 2000s R&B
recording artists, has transcended time and
culture, becoming a fan favourite among
not only off-duty models but also on-the-go,
modern-day moms.
She continues: “Few jewellery baubles can
claim to have as robust and versatile a
presence as the gold chain.”
Gold chains have long been popular
accessories for A List couples appearing
publicly.
Justin and Hailey Bieber have sharply
contrasting tastes; however, the duo often
sports matching gold chains.
The most discussed celebrity couple of the
year – Taylor Swift and Travis Kelce – also
rocked matching gold chains in their first
public appearance as a couple.
Gold earrings complement any incomplete
outfit, and medium gold hoop earrings are
ideal for an everyday casual look.
Tending to be smaller in diameter and thicker
than standard hoop earrings, huggies are a
very wearable option – and as a result, remain
popular with younger consumers.
"A more pared-back
version of the classic
hoop, huggie earrings are
earrings that ‘hug’ your
lobe with a shorter hoop
rather than loop through
it as a hoop does"
“It only makes sense that huggie earrings
would make a long-awaited comeback as one
of the most popular earring choices for 2024,”
writes Emily Schinella of Shiels.
“A more pared-back version of the classic
hoop, huggie earrings are earrings that ‘hug’
your lobe with a shorter hoop rather than
loop through it as a hoop does. A favourite
for Meghan Markle, Selena Gomez and Dua
Lipa, huggie earrings are back in a big way
this year.
“Especially gold huggie earrings that bring
a lot of vibrance to your look, particularly in
an era where many of our faces are hidden
behind a face mask.”
Delicate drop earrings complement any light
but still elegant summer outfit. Larger and
more decorative pieces are given their time to
shine for formal events.
Finally, who could forget the timeless elegance
of gold rings? While trends in jewellery can
change quickly, the shifting popularity of
certain styles in engagement and wedding
rings tends to be slower.
Yellow gold rings have long been a staple.
They can match both understated and loud
outfits and offer an eye-catching contrast with
white diamonds.
Indeed, it’s shaping to be a year dominated by
gold jewellery, with popular culture and tradition
combining to elevate consumer demand.
Humans have proudly worn gold jewellery
for thousands of years, and 2024 has all the
hallmarks of another important chapter in one
of civilisation’s longest-running stories.
6 40 | | November May 2024 2022

FABERGÉ
A N A RR AY OF COLOURS
How is coloured gold created?
Pure gold is too soft to be used in jewellery, so it is mixed with different
alloys to enhance strength. These alloys add an array of eye-catching hues.
Coloured gold has been popular for hundreds of years; however, it rose
to prominence in the early 19th century due to the work of Peter Carl
Fabergé and his legendary Imperial Easter Eggs.
Explore how coloured gold gets its hue:
Yellow
Yellow gold combines pure gold with metals such as copper
and silver. The ratio of these alloys determines the golden hue.
Additionally, 22-carat yellow gold also includes traces of zinc.
White
White gold is a mixture of pure gold with white metals
such as nickel, palladium, and silver. White gold is trendy in
contemporary jewellery design.
Rose
Rose gold shares similar alloys with yellow gold; however, in
different quantities. More copper than silver leaves rose gold with a
beautiful colour. Rose gold was once known as ‘Russian gold’.
Green
Green gold is a composition of pure gold, copper, silver, and
zinc. The alloys used determine the varying shades of green.
Purple
Purple gold is created using a blend of pure gold and
aluminium. It’s a rare and bold choice, and many often shy
away from using it due to brittleness.
Blue
Blue gold is a mixture of pure gold with gallium, indium, or
iron. It’s one of the rarest varieties of coloured gold.
Grey
Grey gold is a fusion of pure gold with copper, iron, manganese,
or silver, creating a versatile and sophisticated look.
Black
Black gold embodies mystery. Achieved through a range of
methods, including the addition of cobalt or by electroplating
with black rhodium or ruthenium, black gold is a dramatic choice.
May 2024 | 41

BUSINESS
Strategy
How do you get your employees
excited about helping customers?
As a business owner, actions speak louder than words. STEVEN VAN BELLEGHEM
discusses the importance of making your business customer-centric.
Too many managers and business owners
underestimate the impact of small
decisions and choices in getting people
excited about a new strategy or product.
If you want to excite people about a
customer-centric culture, focus your
message on that. Everything else –
especially if it’s about financial statistics
and revenue – is noise and creates the
impression that you do not believe it is as
important as you pretend.
The sad truth is that most businesses are a
‘Diamond in the Rough’ – the title of my new
book about customer culture – regarding
customer service.
These businesses have good intentions and
desires; however, the real action and results
need to materialise.
I believe the main reason for this inaction
is that employees do not believe their
managers are sincere.
In my book, I describe the different factors
you need to make clear to all stakeholders if
you want to build a customer culture.
If you are serious about that, here are some
valuable questions you need to ask yourself
first:
What ‘vibe’ does your business exude?
Is your profile in the market positive or
negative? If you were to be interviewed by
the media, would you complain or announce
an innovation?
The media portrays some businesses as
complainers. This is a missed opportunity.
A ‘bright diamond’ has a positive media
profile.
If you want people to become enthusiastic
about your business, you must first and
foremost exude enthusiasm and positivity.
What sort of social influence does your
company have?
In the past, businesses were mainly
concerned with their problems.
Sometimes, a business may have acted to
help their industry, but that was all.
Today, many businesses influence social
issues. How far does your influence extend?
And how do you use that influence to make
a positive contribution?
What credibility does your message have
with your employees?
As described above, internal credibility is
crucial in achieving a customer-centric
company.
Employees look at leaders’ behaviour
much more than they value their words.
Communication and leadership decisions
are essential.
With that said, ask yourself this: Do your
employees believe in your customerfocused
ambitions?
Create a customer-focused business
A customer-centric culture is the ‘true
north’ of every successful business.
I won’t sugarcoat it; building a culture that
always puts the customer first is not easy.
It takes dedication, leadership, trust,
generative listening, continuous
improvement and – that’s the good news –
celebration.
These
businesses have
good intentions
and desires;
however, the
real action and
results need to
materialise.
With that said, it can be done - so here are
my tips forbuilding a customer-focused
business.
No matter how advanced, technology will
only get you so far in the race for a strong
relationship with your customers.
Leadership: Businesses with a thriving
customer-centric culture – from Apple and
Amazon to Starbucks and Glossier – stand
out for two reasons.
These businesses have a strong customer
vision and leaders who show that they will
always put the customer first with their
decisions and actions.
You can have the prettiest slogans on
your walls or the most inspiring slides,
but if your employees see that you put
efficiency, productivity, and revenue before
the customers’ needs, that will drive your
culture.
This will foster a work culture that is
ruthless, competitive and oriented towards
cost reduction.
Leaders should treat their employees like
they want them to treat the customer.
This means treating employees with
respect, honesty, openness, and fairness
and always being prepared to help.
Listen: It’s not simply showing employees
how things should be done; it’s also about
listening to them.
Your staff is much closer to the customer
than management. Employees know how
customers behave, what they want and
what they think about your products and
services.
42 | May 2024

Elon Musk once described this
phenomenon perfectly.
Despite some erratic behaviour these
days at Twitter, he used to be well known
for seeking constructive criticism. When
his electric vehicles (Tesla) were being
developed, he spoke for a long time with the
automobile engineers.
Instead of asking these engineers what
was positive about the design, he wanted
them to tell him what was wrong because
this feedback would open the door to
improvement.
I’m not describing listening in a general
sense.
Many business leaders listen to others to
confirm their views, which is unhelpful.
It needs to be a specific, value-creating
type of listening, what German author Otto
Scharmer calls ‘generative listening’.
Generative listening is about seeing
possibilities rather than the status quo, an
essential skill for leaders in fast-moving
and uncertain times.
It’s about listening with the intent of
changing the future for the better.
A psychologically safe environment is
the prerequisite for this type of listening.
Employees need to feel safe before sharing
constructive criticism with their leaders.
Trust: Marc Benioff of Salesforce believes
that “trust is at the core of everything a
business does”.
You need to build trust with your employees
for them to work efficiently. You need to
deliver trust with your stakeholders who
want to see your business succeed. And
you must build trust with your customers
for them to choose your business over
competitors.
I would add that you don’t just need to trust
employees for them to work efficiently.
You need to trust them to make better,
faster, and more emphatic decisions for the
customer without losing time by asking one
of their supervisors.
As I said above, staff often know more about
the customer than you, so trust them to do
the right thing.
That trust needs to be felt in every corner of
the business to work.
If you think that you need surveillance and
employee monitoring software – apparently
used by eight out of 10 of the biggest
employers in the US – to keep an eye on
employees working at home, then they
will also not believe you if you say you trust
them to make the best decision for the
customer.
Celebrate: If employees make mistakes, do
not penalise them.Look for opportunities to
learn and improve from that.
Above all, celebrate every time an employee
can make a customer happy.
If customer service could put a smile on a
once very frustrated and angry customer,
that’s worth celebrating.
If a fashion retailer called five different
stores to find someone’s favouritedress, or
if someone spent 35 minutes on the phone
helping an elderly lady install a banking
app, reward that publicly!
If your employees help a young couple
find the perfect engagement ring, that’s
something worth bringing to everyone’s
attention.
Don’t just tell the employees that they have
done well in private; tell everyone and show
them that this is precisely what everyone
should be doing.
CREATING A
CUSTOMER-
CENTRIC
CULTURE
Lead
Present a strong
vision to your
employees and let
your actions do
the talking.
Listen
Embrace feedback
from those
who know your
customers best -
your staff.
Trust
Trust your
employees to
make the correct
decisions.
Celebrate
Acknowledge the
good work of your
staff.
Repeat
Celebrate your
wins and remain
humble – there’s
always more work
to do.
What you celebrate and reward is what
you stimulate, and you do want to
encouragehigh-quality customer service.
• Celebrate: Microsoft CEO Satya Nadella
once said, “Don’t be a know-it-all, be a
learn-it-all”.
When Microsoft became the world’s most
valuable company – by the measure of
market capitalisation – in the late 1990s,
their complacency led to significant
problems.
“People would walk around our campus
thinking we are God’s gift to mankind,” he
explained.
And, unfortunately, whether in ancient
Greece or modern Silicon Valley, there’s
only one thing that has brought companies,
societies, civilisations down, which is
hubris.”
Always celebrate your wins and help your
team stay humble about your success,
especially in the current economic
environment where the next disruption is
just waiting around the corner.
Always remember that creating a customercentric
culture is an ongoing process, too.
You’ll need to continuously measure your
progress, gather feedback, and make
changes as required.
Changes will be needed when customer
behaviour evolves yet again. So always
encourage your employees to suggest ways
to improve the customer experience and
work together on their suggestions.
STEVEN VAN BELLEGHEM is a
business consultant and keynote
speaker, specialising in customer
experience and the future of marketing.
Visit: stevenvanbelleghem.com
May 2024 | 43

BUSINESS
Selling
Customers need help, but do we want to be helpful?
Hoping to increase your sales this year? DAVID BROCK reveals the
secret to mutual success between businesses and customers.
I recently finished a fascinating
discussion with two good friends. As
our conversations often go, we talked
about the state of selling and how we
improve.
The conversation got me thinking: “Our
customers desperately need help, but do
we want to be helpful? Do we know how
to be helpful?”
Everyone faces accelerating turbulence,
disruption, risk, and uncertainty, and as
time goes on, we face issues we may not
have experienced before.
We are often so busy we may not
recognise threats or opportunities to
change, improve, or grow.
And when we do, we are overwhelmed
with information and data about what we
might do.
Because so much of this is outside our
experience base, we struggle with what
to do and our confidence in our choices.
Often, we involve more people – we need
differing points of view and differing
expertise to address these challenges.
These challenges impact not just our
areas of responsibility but also many
areas of the business.
Making the ‘right’ decision is more
difficult because more people are
involved. And, as would be expected,
uncertainty increases.
The core issue is our customers need
help. They are crying for help! And that
demand for help will skyrocket in the
coming years.
Your business can provide that help. The
question is,do we want to give that help?
And if we do, do we know how to provide
that help?
Do we want to provide that help? That’s,
perhaps, the ugliest question we must
answer for ourselves.
Do we care about our customers and
their success, or are we more focused
on our success – getting customers
to purchase is the inconvenience that
impacts our ability to achieve our goals.
Too often, our behaviours are selfcentred
and not customer-focused.
We don’t understand our customers and
their challenges. We defer engagement
to the point when they are looking for
solutions.
Our ‘interest’ in their problem is focused
on how we present our solution, getting
them to choose us, and we don’t know
how to provide the help that is most
important to them.
In my work, I often ask people who have
just closed a deal a critical question –
what did they buy it for?
Too often, the answer is the literal price.
If a customer chooses to buy our
products, our focus should be on
retaining them as a life-long customer to
expand the business.
However, far too often, the support
businesses provide is focused on
utilising the products on offer and not on
achieving the customers' goals.
In other circumstances, salespeople
want to help customers but don’t know
how.
They don’t understand their customers,
their businesses, how they get things
done.
They don’t ask what they should be doing
Your business
can provide
that help. The
question is, do
we want to give
that help? And
if we do, do we
know how to
provide that
help?
and question what they might be missing.
They only know what their products do!
Fortunately, this is an easy problem to
fix. Being curious, caring, and working
collaboratively with customers can solve
this issue quickly – which is about more
than merely selling a product.
Recognising the customers are human
beings, listening, and building their
confidence they are doing the right thing.
Helping them move forward in complex
decisions in which they have little
experience.
Leveraging our expertise in assisting
others to solve similar problems.
This is an issue of business acumen, and
we can learn to build skills by putting the
customer first.
It changes our conversations and how we
engage our customers.
You may be reading this and thinking, ‘I’m
too busy for this thing; I must make sales’.
Some may suggest that this approach is
more ‘charity’ than business.
In response, you are settling for your
current win rates and not seeing the
missed opportunities that pass you by
when the customer gives up on your
business.
Those who recognise the value of creating
value with their customers, the importance
of caring, and the value of helping the
customer successfully navigate their
buying process see something else.
They’ve discovered the ironic secret about
being truly helpful to customers – and that
is that sales skyrocket as customer loyalty
increases, which drives the ability to reach
revenue goals.
The secret these businesses have
discovered is we succeed through helping
our customers succeed.
DAVID BROCK is CEO of Partners
In Excellence, a global consultancy
focused on helping organisations
engage customers more effectively. He
writes at partnersinexcellenceblog.com
44 | May 2024

BUSINESS
Management
Overcoming inertia in your jewellery business
Is your jewellery business stuck in a rut? DAVID BROWN reveals
the secret to breaking free from the bad habits in your business.
Inertia is an inherent part of our nature,
describing our inability to change direction
quickly.
If you show you don’t fear change, it will set
an example for your staff. It helps to establish
goals and objectives tied to the initiatives.
The official definition is as follows: “If a body
is at rest or moving in a certain direction,
it will stay at rest or continue moving in the
same direction until it is acted on with force.”
It’s a term that describes resistance to
change or a tendency to maintain the status
quo, which can pose significant challenges for
businesses.
Overcoming inertia is crucial for staying
adaptable, innovative, and competitive in
today's dynamic market.
Inertia manifests in various forms within a
business setting.
You may often stick to routines and traditional
processes, reluctant to embrace new
methods or technologies due to the comfort
derived from familiarity.
Likewise, fear of failure or the unknown can
hinder businesses from taking risks, trying
new strategies, or exploring innovative ideas.
This may extend beyond just the principals of
the business and include staff too, especially
those who have been there for a while.
In fact, inertia can be embedded in
organisational structures, where established
hierarchies and processes can be a serious
inhibitor to change and progress.
Aside from the resistance of staff, you may
encounter resistance from the processes and
systems you currently have in place.
Outdated systems or entrenched processes
can create inertia, making it challenging to
adopt modern practices that may significantly
improve efficiency.
The impact of inertia is clear, but there are
steps you can take to overcome it.
Foster a culture of innovation
Encourage experimentation in your
business. Cultivate an environment where
experimentation and calculated risk-taking
are embraced.
Encourage employees to propose and
implement new ideas without the fear of
failure.
You can offer incentives or rewards
for innovative thinking and successful
implementation of new strategies.
Recognising and celebrating innovation can
motivate employees to break away from
inertia.
Embrace and encourage change
Strong communication and transparency
are critical.
Effective communication about the need
for change, rationale, and potential benefits
can reduce resistance.
Transparency fosters understanding and
buy-in from employees. These changes
must be implemented gradually, allowing
for adjustments and feedback. Incremental
changes are often more manageable and
less disruptive than abrupt overhauls.
Empower and educate employees
Invest in training programs to equip
employees with the skills and knowledge
needed to adapt to new technologies or
processes.
Education reduces resistance born from
uncertainty. You will then engender outof-the-box
thinking. This must go hand in
hand with you involving employees in the
decision-making processes.
When they feel empowered and included,
they are more likely to embrace change
and, in fact, create it rather than resist it.
Show leadership and vision
Change starts at the top in any business.
Leadership plays a pivotal role in driving
change.
Leaders must communicate a compelling
vision for the future and lead by example,
actively participating in and advocating for
change.
Leaders must
communicate
a compelling
vision for the
future and lead
by example,
actively
participating in
and advocating
for change.
Measurable targets create a sense of
purpose and direction, motivating employees
to overcome inertia.
Encourage agile and adaptive structures
Rigid processes will inhibit change. Adopt
flexible methods that can respond to change.
Agile frameworks enable businesses to
adapt quickly to market shifts and evolving
customer needs. Likewise, with any
hierarchies that may exist.
You must break down barriers and
management structures that impede
communication and collaboration. Crossfunctional
teams and flat organisational
structures foster agility and innovation.
Introduce continuous improvement
Don’t be afraid to ask people what they think
about your business!
Embrace continuous improvement by
refining processes based on feedback and
lessons learned. This approach keeps the
business adaptable and responsive.
Staff need to know they are listened to.
Implement feedback mechanisms that allow
employees at all levels to contribute their
insights and suggestions. Regular feedback
loops provide valuable insights for refining
strategies and processes.
Good luck
Overcoming inertia in business is
a continuous journey that requires
commitment and leadership.
It's about fostering a culture of innovation,
empowering employees, embracing change
management practices, and maintaining an
agile and adaptive structure.
By understanding the root causes of
inertia and implementing these strategies,
businesses can break free from
complacency and drive towards sustained
growth and success in an ever-evolving
marketplace.
DAVID BROWN is co-founder
and business mentor with Retail
Edge Consultants. Learn more:
retailedgeconsultants.com
May 2024 | 45

BUSINESS
Marketing & PR
Deepen your understanding of your target market
How well do you know your customers? DAVE WAKEMAN reveals effective strategies
for learning more about your target market.
I try to make two major points in every
customer engagement: You must be
able to define success and remember
that you are not the customer. This
second idea tends to confuse people.
We all feel that we know what our
customers want and what they should
consider when they buy from us.
However, this is a bad idea because
people don’t act how we want them
to, and our assumptions are probably
costing us sales.
This makes the ability to ‘hear’ your
customers necessary. There are four
ways to get to know our customers
better.
For me, doing surveys is a last-ditch
effort. They take time because you
need to work out the right questions.
You also need to spend time targeting
and figuring out the right tools.
Surveys can also be expensive.
Although the prices have come down
over the years, you will still need to
spend tens of thousands of dollars to
get a good survey done.
Finally, getting people to respond to
surveys takes work. This has a few
knock-on effects on the research you
will do. Can you get the right people
to respond? Can you get enough
responses to make the survey valid?
The ‘Quick Question’ is a way to get oneto-one
feedback from your market.
The beauty of this is that you can use
this question anywhere: in the store with
a customer or prospect, around town
when you shop, or in any setting where
curiosity spurs an idea.
The key to success isn’t to think of
these small asks as the solution to all
your customer knowledge but as a step
toward insight.
I describe this approach as the
foundation of a hypothesis about
customer wants, market needs, and
products that you are developing.
The ‘Social Butterfly’ is my take on focus
groups. Focus groups are familiar, and
they are also contrived.
You must work hard to ensure you get
the maximum benefit from focus groups
because you find that people will tell you
what they think you want to hear.
They’ll be performative because they
know they are being observed or may
not be forthcoming. It is tough to know,
and that’s where the idea of the Social
Butterfly came from.
It’s a recognition that you can learn
a great deal from groups and the
realisation that a group setting can make
it hard to find the truth.
I set these Social Butterfly situations up
at networking events or mixers where
I can float in and out of conversations,
dropping in ideas or bringing up ideas I
want to learn more about.
Typically, these revolve around the
hypothesis I’ve developed from my
earlier conversations.
The big thing is to spur the conversation
and really listen; don’t judge.
‘The Work of Others’ is my cheeky way
of borrowing research from businesses,
foundations, and organisations
investigating my questions. How does
it work?
It’s simple: you plug your question into
your favourite search engine and play
with a few variations of the idea.
Read and review until you’ve learned
what you need to know or reached the
time you set for research.
Using ‘The Work of Others’ has some
great benefits: It is quick, cheap, or free,
and it can help you validate an angle or
hypothesis.
The downside is that it is outside your
control, and you might not get the
information you want.
There can be dead ends; however, you
can learn solid information with an hour
and a search engine.
I’ve isolated billion-dollar market
segments using this technique combined
with the Quick Question and the Social
Butterfly; however, it takes effort.
This is the point in the research where
I figure out if I must do things myself.
The key to
success isn’t
to think of
these small
asks as the
solution to all
your customer
knowledge
but as a step
toward insight.
Can you trust that you put together the
survey in a way that ensures you learn
what you need to learn?
You may answer ‘yes’ to all three
questions; however, you must also
consider whether this best uses your
time, money, and focus. I’ve done it
both ways.
I’ve researched on my own, and I’ve
done the job using research conducted
by others.
They can both work
The big secret is to consistently use
the Quick Question and the Social
Butterfly to gain insights. With these
insights, you can go deeper with your
own research.
Why do this? Knowing the customer
isn’t a one-time thing.
Retailers are always talking to their
markets because they know that their
audience is always changing their
wants, needs, and desires.
They also know that guessing or
predicting what people will want can
be a difficult challenge.
So, letting people help you give them
what they want is best.
DAVE WAKEMAN is a consultant, writer,
and teacher who believes in profits in
business and not promises. Learn more:
www.davewakeman.com
46 | May 2024

BUSINESS
Logged On
Artificial Intelligence: One step at a time
Embracing emerging technology is exciting; however, we must proceed with caution.
BARRY URQUHART encourages you to think before you consider implementing AI programs into your business.
It’s easy to get caught in the rush, and it
comes with consequences and costs.
The latter may be financial, social,
political, cultural, and operational. Take a
pause; the business landscape is littered
with the fallout of past rushes centred
on mass production, just-in-time, cloud
computing and online sales.
Contemporary examples feature
production zero-emissions, green
energy, algorithms, renewable fuels and
autonomous operations. And now, there is
AI – artificial intelligence.
There are lessons to be learned. Value is
difficult to measure, monitor, and control.
It can be, and often is, a weighty issue.
Few want to be left behind — the question
is, behind what? Sentiments evolve into
truisms founded on emotions, intentions,
and idealisms, which typically lack
objective, substantive, and reasoning.
Generative AI represents the subject
matter, and the term is explicit and
implicit. Generational, strategic and
quantum change, if not progress,
advancement and competitive advantage,
is significant in scale.
It doesn’t come easy
Enhanced efficiency, effectiveness and
productivity of innovations, technologies
and disruptive processes may not result in
better outcomes, advantages, benefits and
rewards for clients, customers, business
managers and stakeholders.
Indeed, they can profoundly impact
morale, cohesion, job security, employee
attrition rates, customer service, and
service delivery. Skill gaps become
evident rapidly, and internal and external
satisfaction levels can decline.
Therefore, installing innovations and
change is only an initial phase. Ensuring
and optimising ‘fit’ may require attention,
time, and resources to facilitate, install
and support changes in structures,
systems, processes and skill sets.
Australian businesses benefit from
mining resources, and this country is
foremost in operations, profitability, and
adaptability. Autonomous trucks and trains
are examples. Admittedly, the sector is
populated with risk-takers.
A commonly applied philosophy is founded
on three pillars: mine, refine, and define.
Each is relevant and applicable to
commerce at large, particularly when
addressing artificial intelligence. The key
preceding phase is ‘explore’.
Artificial Intelligence has many
dimensions; some are customised, while
others have been commoditised. None
can be secured, installed, and left to
its own devices. Inevitably, deficiencies,
shortfalls and errors become apparent
– with potentially significant implications,
complications, and consequences.
Therefore, mining the marketplace for the
‘right’ or most appropriate AI is imperative.
One size does not fit all.
Mining, scoping, and documenting
the potential will identify the need for
complementary, contributing, and
supportive infrastructure.
That will enable pre-emptive refinement
of the intended introduced artificial
intelligence and the existing operations.
Gaps must be filled; only then can
outcomes, intended and unintended,
advantages and disadvantages,
enhancements and improvements,
be identified, analysed, documented,
implemented, monitored, measured,
improved, and provided with optimal
infrastructural support.
ChatGPT and other programs are case
studies. Pre-existing phones, computers
and online systems may be incompatible.
Human overview checking, verification and
approval are advisable, if not mandatory.
Artificial
Intelligence
should be
secured and
implemented
for specific
purposes
or intended
outcomes.
Legal practitioners, medical specialists,
engineering experts and psychology
consultants will attest to that.
Set and forget is fraught with potential or
inevitable non-identifiable consequences.
First things first
Artificial Intelligence should be secured
and implemented for specific purposes or
intended outcomes. Accordingly, goals,
outcomes and key performance indicators
must be determined, with input from
internal and external stakeholders.
Variances and refinements may be
necessary. They should be tolerated,
recognised, respected, and actioned.
Delegated responsibilities need to be
agreed upon, and enforced. Transparency
and accountability are important. The
process is called ‘rhyme and ‘reason’.
Beware AI snake-oil-salespeople!
Creative misses
Artificial Intelligence works best from a
broad and extensive existing database.
Original and unprecedented thoughts,
texts, expressions, responses, and actions
have severely restrained scopes.
AI is fundamentally a tool that
complements existing human, systemic,
and structural resources. It does not and
should not be employed to replace them.
Operating in or from a void is hollow.
However, it comes with inherent costs,
strengths, weaknesses, limitations
and needs. Each phase, step if you will,
needs to be explored, mined, refined and
defined before acquisition, introduction,
implementation and operation.
I have seen first-hand how customer
service will be affected, can be affected
and improved because of AI. The benefits
are immense when perceived through
customer perspectives, particularly
personalised customer service.
Think about it - that is intelligent but not
artificial.
BARRY URQUHART is managing
director of Marketing Focus. He has been
a consultant to the retail industry since
1980. Visit: marketingfocus.net.au
May 2024 | 47

My Bench
Shay Daly
Artisans Bespoke Jewellers
AGE 30 • YEARS IN TRADE 6 • TRAINING Apprenticeship • TRAINING Masters in screen production animation • First job Bryant Family Jewellers
SIGNATURE PIECE
ENCHANTED IRIS EARRINGS
Remarkable 18-carat white and rose gold 'Enchanted Iris'
Earrings with grey/pink spinel, blue/purple sapphires,
tanzanites, and diamonds with a removable drop feature.
The piece draws the eye around the natural-coloured
gemstones with the use of Fibonacci’s spiral incorporated
into the curvature and ‘leaf’ style shapes. The Iris flower is
symbolic of hope, courage and wisdom.
FAVOURITE GEMSTONE Unheated tanzanite
or sapphire.
FAVOURITE METAL White gold.
FAVOURITE TOOL Laser.
BEST NEW TOOL DISCOVERY Cutting round
discs out of emery paper and putting them on
screw-top mandrels.
BEST PART OF THE JOB Being creative and
constantly being challenged.
WORST PART OF THE JOB Polishing and plating.
BEST TIP FROM A JEWELLER Don't dwell; get on
with it and try again.
BEST TIP TO A JEWELLER There is more than one
way to do something. Everyone has their own way.
Find out what works for you.
BIGGEST HEALTH CONCERN ON THE BENCH
Lungs.
LOVE JEWELLERY BECAUSE I get to create
pieces that have meaning and make people happy.
48 | May 2024

May 2024 | 49

OPINION
Soapbox
Change is hard at first, messy in the
middle, and gorgeous at the end
It can be challenging to keep up with the fast-paced and ever-changing nature of social
media. KATERINA PEREZ reveals how online influencers are helping the jewellery
industry navigate these tricky waters by bringing value to online platforms.
When I started my website a decade ago,
I could never have imagined the career
it would allow me to build as a blogger,
social media influencer, and consultant in
the international jewellery trade.
The 10-year anniversary of the start of my
business has encouraged me to pause and
reflect on the landscape of blogging, content
creation, and ‘influencing’.
It’s important to consider how these
modern-day forms of promotion and
communication have impacted both the
business-to-business (B2B) and businessto-consumer
(B2C) trades.
It’s safe to say that blogging was a muchmaligned
pursuit in the early days. It was
seen as a glorified hobby! It was a challenge
to get a foot in the door to review collections,
meet designers, and attend launches.
What many in my position in those early days
of fine jewellery blogging failed to appreciate
was that we were running a marathon and
not a sprint.
Trust is a hard-won resource, and so it was
essential to play the long game and focus on
relationship building, high-quality content,
beautiful photography and ‘white collar’
digital tactics to increase audiences the right
way - organically.
The success of my jewellery blogging career
directly correlates with the rise of social
media and the evolution of digital advertising
strategies, influencer marketing programs
and short-form video content.
In fact, what bloggers bring to the table
is the ability to streamline all these
digital avenues – website, social media,
photography, following, community, paid
advertising – into one neat package.
The impact of blogging on the jewellery
industry has been to make many of these
contemporary marketing streams more
accessible to traditional businesses
who have neither the resources nor the
experience to capitalise on them.
New horizons explored
Another significant impact of blogging is its
power to open doors.
Secrecy was a natural facet of the jewellery
trade until social media came along to take
clients behind the scenes.
I can share incredible creations with my
audience, introduce them to designers,
and reveal the processes behind high-end
jewellery pieces at the click of a button. It's
never been easier to 'spread the word'.
Jewellery as an art form is more visible
now than ever before, and this can only be a
positive for both emerging and established
brands looking to compete against the latest
iPhone or luxury handbag.
Believe me, this is not just a win for the big
guys, either.
This is also a positive development for
independent jewellery retailers, who have
access to an arsenal of digital tools to
spread the word about their businesses.
I have worked with both B2B and B2C
brands and have learned to tailor my
approach to clients based on their
marketing messages, goals, and trading
ambitions over time.
Brands that work with me know they are
entering into a business relationship, and I
hope this professionalism goes someway to
banishing misconceptions about influencers.
Even now, I hear businesses, brands,
designers comment that the most important
factor they consider is an influencer's
number of followers.
There’s little thought given to questioning
who these followers are, where they’re
based, how they were gained, and how
engaged they are with the content.
I assure you that if brands and businesses
are discerning about the bloggers they
choose to work with, the results they enjoy
will be far more significant.
What many in
my position in
those early days
of fine jewellery
blogging failed
to appreciate
was that we
were running a
marathon and
not a sprint.
Final thoughts
Interestingly, I have noticed that the number
of bloggers producing thought-provoking
content has decreased over the past decade.
Of course, content creators on TikTok and
other short-form video platforms are on
the rise, but those providing long-form
written content, beautiful photography, and
community are on the decline.
With that in mind, I believe that only those
who have stood the test of time have real
influence over the market and, by extension,
bring genuine value to the brands and
businesses we work with.
It’s all about trust, after all, and that isn't
easy to nurture.
And that brings me to my final point about
what it’s like to be an influencer.
In my experience, it’s about maintaining high
standards, building long-term networks,
producing exceptional content, and knowing
the audience inside and out.
The biggest misconception of blogging that
persists today is that it is easy, hobbyist, and
full of quick thrills like posh hotel rooms and
champagne receptions.
This may be the case for some; however,
after ten years of brand-building and clientfacing
campaigns, I know differently.
The value I bring to the jewellery trade is
often what you can’t see rather than what’s
splashed across Instagram.
Remember that next time you choose to
engage an influencer promising the world on
a silver platter!
Name: Katerina Perez
Business: KaterinaPerez.com
Position: Founder & Creative Director
Location: Paris, France
Years in the industry: 15
50 | May 2024

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