Jeweller - May 2024

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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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Jeweller - May 2024

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