Jeweller - 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.
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