WORLD DIAMOND MAGAZINE #18 / FALL 2019 by ALTIN DÜNYASI by ALTIN DÜNYASI YAYIN GRUBU

FALL 2019

Organisation The Asean Gems and Jewellery Association Conference 2019 Marketing Deconstructing the next great jewellery-consuming generation Show Get ready for your Istanbul Jewelry Show rendezvous!

Cover image; Chaumet

WORLD DIAMOND MAGAZINE

Toward a Altın Dünyası

Circular & Sustainable Gem and Jewellery Industry Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

World Diamond Magazine | Fall 2019

WORLD DIAMOND MAGAZINE JEWELLERY EXPORTERS' ASSOCIATION

PUBLISHER

Altın Dünyası Publishing Group

EDITOR IN CHIEF Ya'akov ALMOR

MANAGING EDITOR Remzi ÇELEN

MANAGING EDITOR Şirzat AKBULAK

EDITOR

Aslı CELEBIOGLU

EDITOR

Dilara ÜNAL

ART DIRECTOR

Süleyman ÖNKOYUN

DESIGNER

Hayrunnisa GÜLMEZ

CONTRIBUTORS Ya'akov ALMOR Aleah Arundale-SIEGEL Yossi ATUAR Rami BARON Remzi ÇELEN Brad HUISKEN Danielle Keller-AVIRAM Jonathan KENDALL Estelle Levin-NALLY Richard Wake-WALKER

JEWELLERY EXPORTERS' ASSOCIATION OF TURKEY Dış Ticaret Kompleksi A-Blok K:2 Çobançeşme Mevkii, Sanayi Cad. Yenibosna-Bahçelievler İstanbul / Türkiye Tel: +90 212 454 00 00 I:1002  Fax: +90 212 454 00 32 YAYIN DÜNYASI YAYINCILIK GAZETECİLİK VE DAĞITIM A.Ş. Şerefefendi Cad. Selvili Mescid Sk. N:4 K:2 Fatih - İstanbul / Türkiye Tel: +90 212 518 84 01 GSM: +90533 556 03 22 PRINTING / 1 EYLÜL OFSET M.Nezih Özmen Mah. M.Akif Cad. Kestane Sok. No:5/3 Kat:4 Merter / İstanbul Tel : +90212 555 19 03

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

Ya’akov Almor Dear Readers, Welcome to the 18th edition of the World Diamond Magazine! While working on this issue, our managing editor, Remzi Çelen said, enthusiastically, that this was going to be the best issue we’ve produced up to now. Well, I certainly hope our readers will see it that way. This is also the moment to give a shout-out to the Turkish Jewellery Exporters Association (JTR), its president Mustafa Kamar and vice president Emil Ģuzeliş, who heads the editorial committee. Thanks to all for the continued support and encouragement to make the World Diamond Magazine a better quarterly industry magazine, time and again! We indeed are honoured to have some splendid authors collaborating in this issue. I want to thank Danielle Keller-Aviram, and Estelle Levin-Nally of Levin Sources for writing the cover story on circularity and sustainability. Levin Sources is a leading consultancy and social venture based in the UK that helps companies move more minerals through systems and helps integrate good governance and better business practices. Rami Baron, president of the Diamond Dealers Club of Australia and a member of the Executive Committee of the World Federation of Diamond Bourses, contributed his article “Why change is so hard?” Earlier versions of these articles were published earlier on IDEX online. We are also happy to publish CIBJO’s Education and Marketing Report by Jonathan Kenndall. And with Rio Tinto’s famed Argyle diamond mine closing in 2020, we’re not missing the chance to dedicate a good number of pages to the vibrant pink colours and hues of the

World Diamond Magazine | Fall 2019

mine’s unique pink diamonds. Rio Tinto Diamonds can be credited with raising the awareness of the magic and appeal of fancy colour diamonds throughout the diamond supply pipeline. Note that the Winter issue of the World Diamond Magazine, that will fall in your mailboxes before the end of this calendar year, will be dedicated to fancy colour diamonds. There is no lack of challenges to retail jewellers this year. Naturally, the gem and jewellery industry and trade is looking forward to making the upcoming holidays sales season as successful as possible. But we all know that the market is getting more competitive and that as a whole, the diamond and jewelry industry and trade will need to invest more efforts and money into marketing than ever before to enhance consumer confidence and desire in diamonds and diamond jewellery. And then there is the issue of lab-grown diamonds (LGDs). Their market share is still tiny, below one percent, but the producers and marketers of these LGDS are riding the waves of digital marketing with skill and determination, making them look a much bigger threat than they really are. While there is no reason for panic, the LGDs do drive home the message that throughout the supply pipeline, we all need to improve on telling the story of natural diamonds, the crucial role they play in improving the lives of literally millions of people, and that only natural diamonds can be the symbol of love and commitment.

‘‘49th Istanbul International Jewelry, Watch & Equipment Fair’’

Fall 2019 | World Diamond Magazine

CONTENTS WORLD DIAMOND MAGAZINE

THE ASEAN GEMS AND JEWELLERY ASSOCIATION CONFERENCE 2019

DPA PUSHING INTO TWO ASIAN MARKETS

World Diamond Magazine | Fall 2019

VAN CLEEF & ARPELS’ PERLÉE COLLECTION HIDES BEJEWELLED MYSTERIES

GET READY FOR YOUR

ISTANBUL RENDEZVOUS

RIO TINTO TO SELL ITS ANNUAL CHOICE OF PINKS AND REDS

TOWARD A CIRCULAR, SUSTAINABLE GEM AND JEWELLERY INDUSTRY

THE WORLDâ&#x20AC;&#x2122;S LEADING PRODUCER OF JEWELLERY MOUNTINGS: TURKEY

THE MOST IMPRESSIVE JEWELLERY PIECES WORN AT THE VENICE FILM FESTIVAL

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

World Diamond Magazine | Fall 2019

VAN CLEEF & ARPELS’ PERLÉE COLLECTION HIDES BEJEWELLED MYSTERIES As any ardent high jewellery collector would know, Van Cleef & Arpels isn’t just home to some of the world’s most storied jewels; it’s also a leader in technical mastery. Eleven years has passed since the inception of its first Perlée creation, an iconic collection that draws on the French maison’s signature gold beading. This year’s offering is a testament to Van Cleef & Arpels’ flair for innovation and craftsmanship.

Transformable designs

While transformable jewellery may have gained popularity over the years, it has always been part of the Van Cleef & Arpels’ DNA, with its earliest offerings dating back to the 1930s. The new Perlée range has a new addition to the transformable jewellery collection: A necklace that lends itself to multiple combinations. On a long yellow

gold chain hangs a pendant made up of three rings of different sizes. The ring in the middle can be replaced by another that’s adorned with sky-blue turquoise, summery coral, or deep black onyx beads. The crowning jewel, however, are the “secret” watches — a first for the Perlée collection. Doubling up as a bracelet and timepiece, the first “secret” watch features two motifs of different sizes which sit across each other on one open-arm bangle. Slide the larger motif to one side and it reveals a mother-ofpearl dial surrounded by round diamonds. Available in three styles and imbued with the Perlée’s playful spirit, two of the designs feature a play on colour, with green malachite as a striking juxtaposition to the coral motif and pink gold bracelet, and deep blue lapis lazuli which highlights the brilliant

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

diamonds and yellow gold of the other. The third one fuses rose gold and diamonds. Another version of the watch comes in the form of a rose gold and diamond pendant watch. Slide the paved surface aside to reveal a discreet dial, and you can also wear it as a necklace.

Undisputed craftsmanship

Like all Van Cleef & Arpels creations, the Perlée collection is another showcase of its sterling craftsmanship. Creating transformable jewellery involves a high level of technical complexity, and the Perlée range is a testament to the atelier’s savoir-faire. Take for example the gold beading. Every bead is individually worked by hand and polished until it gleams, and it’s a remarkable showcase of its craftsmanship. That’s not all. The creation of the Perlée “secret” watches also bring together two craft traditions. The gold structure of the watches and pendants are created in French workshops while the dials and movements are put together in Switzerland’s Meyrin.

World Diamond Magazine | Fall 2019

Romancing the stones

As if the technical wizardry isn’t enough to win you over, Van Cleef & Arpels only use stones of the highest quality. Making their debuts in the Perlée collection are three jewellery sets that include a pendant, ring and a pair of earrings. These cabochons of hard stones include combinations of yellow gold and malachite, rose gold and carnelian, white gold and turquoise. Rare stones featured here include a rich, deep blue lapiz lazuli sprinkled with pyrite, and a smooth coral. Besides stunning gemstones, the brilliance of the diamonds is scintillating in the diamonds collections. Only top quality diamonds are picked, in colours that range from D to F and in clarities from IF to VVS. The diamond rings, for instance, feature a row of diamonds surrounded by beads and sparkle beautifully thanks to openwork gold structures that allow plenty of the light to pass through.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

THE MOST IMPRESSIVE JEWELLERY PIECES WORN AT THE 76TH VENICE FILM FESTIVAL Celebrities made an impression with their glamorous fashion at the 76th annual Venice Film Festival. A-list actors and world-famous models attended the festival's movie premieres over the course of 10 days, during which celebrities also showcased some of the best fashion looks of the year.

Caroline Daur in Messika earrings at the screening of An Officer and A Spy

World Diamond Magazine | Fall 2019

Lily-Rose Depp wearing Chanel earrings at the screening of The King.

Liv Tyler - Prefers Bulgari Earrings.

Adele Exarchopoulos in Boucheron earrings at the screening of Joker.

Candice Swanepoel wearing Vintage Givenchy jewellery at the screening of Marriage Story premiere.

Kate Upton wearing Bulgari earrings and necklace at the Marriage Story premiere.

Annabelle Wallis in Cartier earrings at the screening of Seberg.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

ROBERTO BRAVO, AN ICONIC JEWELLERY BRAND, CLAIMS ITS PLACE ON SAN MARCO SQUARE IN

e c i n e V

he iconic jewellery company Roberto Bravo, a well-established global brand, has come to Venice and recently opened a new store in one of Italy’s most popular tourist destinations. The new store is located on San Marco square, one of recognized design and art showcases in Europe.

The Roberto Bravo brand, which is inspired by the colours of nature and combines them with precious stones in its jewellery creations, continues to offer its fans a unique, luxurious experience with its handmade collections.

World Diamond Magazine | Fall 2019

Roberto Bravo, which has been accompanying the Hollywood stars on the red carpet since the day of its foundation, brings history and modernism together in Venice in its especially designed store. Occupying two floors, the store’s architectural layout allows its soft brown and grey colour tones to create a special environment to display h company’s jewellery designs successfully. The store’s interior, showcases and other displays offer visitors and customers a distinguished, unique atmosphere to view and experience the jewellery pieces best.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

World Diamond Magazine | Fall 2019

PARIS, VU DU 26 by

It's not a walk. Much less a stroll. Inspired by Paris, by its architecture and culture, Boucheron's new high jewellery collection explores viewpoints, perspectives and heights.

6 Vendôme. This is the name that the Maison Boucheron chose to give to its new High Jewellery collection. The collection revisits Boucheron’s creative heritage and the genius of its founder in three major themes. “Nature Triomphante", “Architecture Inspirée” and “Porté Couture” become the initiatory steps of a stylistic journey, designed by Claire Choisne’s Studio de Création. Through this collection of High Jewellery, Boucheron, a very Parisian Maison, conveys its own particular view of the city, which combines elements of reality with creative fantasies. Frédéric Boucheron was the first among the great contemporary jewellers to open a shop in Place Vendôme. Today, the Maison Boucheron pays tribute to the visionary spirit of its founder. From the windows of number 26 Place Vendôme, Claire Choisne, Creation Director of Boucheron, shares her personal view of this unique place, which has become the heart of French jewellery. 26 V is the Boucheron family house, and the heart of its creative enterprise. It is there, in the studio, under the roofs, that inspirations become reality and take shape. It is there, of course, that the idea came this year to design the very first Boucheron stone.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

JTR IS WORKING ON THE NEXT BUYERS' GROUP TO BE INVITED TO IJS

he Turkish Jewellery Exporters' Association (JTR) will welcome buyers from all over the world in Istanbul at the Istanbul Jewelry Show that is organised twice a year. During the previous show held in March, some 1,500 foreign buyers were hosted in Istanbul. This set a new record. The buyer’s programme is also Turkey’s most successful of its kind.

Many hundreds of foreign buyers in Istanbul were not only hosted free of charge during the İstanbul Jewelry Show, but also had a chance to create a tremendous, often new network of vendors to their businesses. 18

World Diamond Magazine | Fall 2019

The Istanbul Jewelry Show is now one of the most important jewellery fairs in the world. The efforts of the Turkish Jewellery Exporters' Association (JTR) have been central to the success of the Buyer’s Delegation Programme. Many hundreds of foreign buyers in Istanbul were not only hosted free of charge during the İstanbul Jewelry Show, but also had a chance to create a tremendous, often new network of vendors to their businesses.

Free accommodation to buyers Throughout the year, JTR expends intensive and continuous efforts to compile profiles and lists of preferred buyers that will be beneficial to Turkey’s jewellery manufacturers

and wholesalers that exhibit at the shows. Once the list is compiled and reviewed, the buyers, who hail from all over the world, are consequently contacted and invited. JTR takes well care of these buyers, by coordinating flights and hotel bookings, and by offering them a wide choice of services to make their visit and stay as effective and pleasant as possible.

Jewellery buyers are hosted in the best hotels in Istanbul To JTR, it is important the members of the Buyer’s Delegation Programme arrive with high expectations and leave as ambassadors of IJS and the Turkish jewellery industry and trade. It is therefore that these guests are hosted, free of charge, in some of the best available hotels, in close proximity to the IJS venue. JTR is already working on the next group to be invited to the Spring edition of IJS that will be held from March, 2020. For your reservation ; www.jtr.org.tr

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

COVER STORY

TOWARD A CIRCULAR, SUSTAINABLE GEM AND JEWELLERY INDUSTRY In this article, we introduce the concept of “circularity.” Could this be implemented in the diamond, gem and jewellery industry? What can we learn from other industries? Two guest writers share their thoughts. by Danielle Keller Aviram and Estelle Levin-Nally

World Diamond Magazine | Fall 2019

his summer, a remarkable news item caught our attention. LVMH, the Parisheadquartered French multinational luxury goods conglomerate, confirmed it had acquired a stake in the Stella McCartney fashion house. So why is this remarkable? The immensely successful designer Stella McCartney – the daughter of musician Paul McCartney – is one of the fashion industry’s most passionate ambassadors on the issue of sustainability. On her website, McCartney writes: “We believe that the future of fashion is circular – it will be restorative and regenerative by design and the clothes we love never end up as waste. We want to completely reimagine the fashion industry as we know it and move to a new circular economy.” Here, McCartney introduces the concept of circularity as follows: “The systems we rely on to make, sell and dispose of clothing are broken,”

she says. “Operated in an almost completely linear way, large amounts of non-renewable resources are continually extracted to produce the products we love, which largely end up going to landfill or incineration. We need to change the system by making fashion circular and eliminating the concept of waste.” Of course, LVMH was aware of McCartney’s business philosophy and fully subscribes to it. [In] the conversation I had with [LVMH Chairman and CEO] Bernard Arnault and his son Antoine, the passion and commitment they expressed towards the Stella McCartney brand alongside their belief in the ambitions and our values as the global leader in sustainable luxury fashion was truly impressive,” McCartney said. Stella McCartney added that she will be special advisor on sustainability within LVMH to Bernard Arnault, and the executive committee members.

We believe that the future of fashion is circular – it will be restorative and regenerative by design and the clothes we love never end up as waste. We want to completely reimagine the fashion industry as we know it and move to a new circular economy. Stella McCartney

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

COVER STORY

“Since the announcement of my decision to take full ownership of the Stella McCartney brand, there have been many approaches from various parties expressing their wish to partner and invest in the Stella McCartney House,” said McCartney.

WE ARE CONVINCED OF THE GREAT LONG-TERM POTENTIAL OF HER HOUSE. A DECISIVE FACTOR WAS THAT SHE WAS THE FIRST TO PUT SUSTAINABILITY AND ETHICAL ISSUES ON THE FRONT STAGE, VERY EARLY ON, AND [SHE] BUILT HER HOUSE AROUND THESE ISSUES. IT EMPHASISES LVMH GROUPS’ COMMITMENT TO SUSTAINABILITY. Bernard Arnault LVMH Chairman and CEO

World Diamond Magazine | Fall 2019

On his part, Arnault stated: “We are convinced of the great long-term potential of her house. A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on, and [she] built her house around these issues. It emphasises LVMH Groups’ commitment to sustainability.”

the centre of its attention? And, if so, why is this happening and what does or could it mean for the future of the gem and jewellery industry?

MILLENNIALS AND GENERATION Z TO TRANSFORM THE LUXURY MARKET The answer to this question comes directly from the consumer market.

The list of fashion brands controlled by LVMH is about 20 names long and includes such iconic names as Berluti, Celine, Dior, Givenchi, Kenzo and Louis Vuitton. In the watch, gem and jewellery trade, LVMH is well known for its ownership and operation of brands such as Bulgari, Chaumet, FRED, Hublot and Tag Heuer.

In April 2019, the Boston Consulting Group (BCG) and Altagamma – Creativa Cultura Italia published the 6th edition of their True-Luxury Global Consumer Insight Report. The study covers the United States and China, the world’s two largest markets for luxury sales. The report clearly shows that by 2025, Millennials (and Generation Z) will have radically transformed the luxury market. The expectations and demands of these consumers will in fact force luxury brands to implement radical changes.

By definition, circularity is the pinnacle of sustainability. As per LVMH’s acquisition, could it be that sustainability is finally moving from the industry’s peripheral vision into

One of those topics covered in the report is the withstanding power of sustainability. Luxury market analyst Pam Danziger, in her article in Forbes about the report’s findings, noted

In the watch, gem and jewellery trade, LVMH is well known for its ownership and operation of brands such as Bulgari, Chaumet, FRED, Hublot and Tag Heuer.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

COVER STORY that since 2013 luxury consumers’ purchase decisions have shifted dramatically due to their concerns about sustainability and social responsibility. “Today, 56 percent of luxury consumers are attuned to luxury brands’ stance on social responsibility, as compared with 45 percent in 2013. Some 62 percent say they will choose to do business with a brand that supports sustainability over a brand that does not, compared with 50 percent in 2013. Interestingly, sustainability concerns are far greater for South Koreans (81 percent), the Japanese (70 percent), Chinese (66 percent) and French (66 percent) than for Americans (45 percent) or the British (43 percent).

Danielle Keller

LAST YEAR, KELLER WAS ASKED TO PRESENT A PAPER AT THE GLOBAL FASHION CONFERENCE 2018 IN LONDON ON HOW SUSTAINABILITY CAN BE IMPLEMENTED IN THE JEWELRY SECTOR. IN HER RESEARCH, KELLER HAS BEEN SEEKING ANSWERS AS TO HOW TO ENCOURAGE, BUILD, INCREASE AND FINE-TUNE SUSTAINABLE PRACTICES IN THE JEWELRY INDUSTRY AND TRADE – I.E. PRACTICES THAT ADDRESS THE CONCERNS OF CONSUMERS. 24

World Diamond Magazine | Fall 2019

Sustainable luxury consumers are primarily concerned with the environment (37 percent), animal care (27 percent) and ethical manufacturing (21 percent). Millennials place a higher priority on the environment (42 percent) and animal treatment (26 percent) than do Boomers whose primary concern is ethical manufacturing (32 percent),” Danziger summarised. One of the authors of this article, Danielle Keller, is a graduate of the Akademie Mode und Design (Academy of Fashion & Design in Berlin, Germany) and is an active jewellery designer. Last year, Keller was asked to present a paper at the Global Fashion Conference 2018 in London on how sustainability can be implemented in the jewelry sector. In her research, Keller has been seeking answers as to how to encourage, build, increase and fine-tune sustainable practices in the jewellery industry and trade – i.e. practices that address the concerns of consumers. During the course of her work, Keller came to understand that luxury brands may have overlooked the upand-coming generation of consumers and, having underestimated the influence of Millennials a decade ago,

they now realise that this group and, more importantly, Generation Z, are setting the tone in the luxury market. Over 50 percent of Generation Z is more influenced by sustainability and more active in the secondhand luxury market than any other consumer group.

WHAT DOES THIS MEAN FOR THE GEM AND JEWELLERY INDUSTRY? It is here that we return to the topic of circularity. Compared to the fashion industry, the number of locations, materials, processes, factories and operators may be even more numerous and complex in our industry. However, most of the materials used and applied in luxury jewellery share a common denominator: they are mostly mined, and therefore subject to often similar processes, risks and dangers. Depending on what statistics one chooses to use, it can be assumed that globally, to name just two better-known products, about 90 million carats of rough diamonds and 1,600 tons of gold are mined for jewellery every year, generating over US$300 billion in revenue. When incorporating all other precious metals and gemstones, the number is probably closer to $550 billion. Millions of people around the world make a living in all stages of the gem and jewellery supply pipeline. Since the beginning of this century, general awareness of the negative impacts and footprint of mineral extraction has grown tremendously. Campaigns against dirty gold, the use of dangerous chemicals in precious metal extraction, have become all too common. In the diamond trade, the Kimberley Process Certification System (KPCS), while not perfect, demonstrates the diamond industry’s and governments’ efforts to banish conflict diamonds from the supply pipeline.

Bvlgari

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

COVER STORY ACCOUNTABILITY, RESPONSIBLE SOURCING, RESPONSIBLE BUSINESS CONDUCT In addition, accountability, responsible sourcing, responsible business conduct, and product traceability have become issues that consumers have come to care about and demand. The industry has responded by establishing guidelines, such as those set by industry associations like the Responsible Jewellery Council (RJC). These processes are all part of the industry’s ongoing efforts to lower its reputational risks and sustain market share. Slowly, but surely, the gem and jewellery industry at large is coming to the realisation that sustainable business practices, including corporate social responsibility, is better for business, as well as society. Estelle Levin-Nally

THE CASE OF RECYCLING Having said this, there is the other side of the coin to consider: in contrast to organic materials that can be regrown and harvested time and again, precious metals and gemstones, once mined and processed, remain physically present in the market in one form or another. Much of it sits in jewellery boxes and safes in consumers’ homes all around the world. Interesting fact: There is 30 times more gold in a ton of discarded mobile phones than in the average ton of gold-bearing ore. Therefore, the introduction of circular business processes is one of the cornerstones when considering how to make our sector more sustainable, alongside the mainstreaming of sustainability into all scales of mining and mineral processing. In the jewellery industry, precious metal recycling is already happening on a small scale, meaning that it has proven economic viability.

World Diamond Magazine | Fall 2019

But for a mass shift into recycling precious metals, there is a need to create cross-industry collaborations, and to create incentives to locate, collect and save these minerals. Currently, there is no system in the supply chain to make this a reality; therefore, it is not surprising to see products containing precious minerals end up in a landfill or fall into neglect.

WHAT DEFINES SUSTAINABLE LUXURY JEWELLERY? To be recognised as part of the circular process, ideally, sustainable luxury jewellery is made from certified mined precious metal materials or from certified recycled precious metals, both of which can be traced to the source, along with responsibly sourced, traceable or certified recycled coloured gemstones and diamonds. Renewable energy should be used for the creation of prototypes and for mass production, with all leftovers and wastewater saved for reuse or to be recycled into beautifully crafted products. All these processes should be developed using a design based on circular strategies that takes the next incarnation of the product into account, so preserving the planet’s natural resources. As indicated in the report by BCG and Altagamma, the demand for sustainable luxury is growing, and the gem and jewellery industry will have to reconfigure structures, processes and business models to authentically achieve the susatinability gains this market demands.

A CHALLENGE TO THE BIG BRANDS As demonstrated by LVMH, it is obvious that the big brands will be setting the trend, both in sustainability and circularity. Due to the industry’s structure and the

Christian Dior

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

COVER STORY

complexity of sourcing and treating the precious materials that it uses, only the larger firms have enough influence to demand meaningful changes from the upstream supply chain. The gem and jewellery industry lags behind other sectors in the pursuit of sustainability and circularity. Further research and the development of more diverse frameworks, strategies and policies will put us some way on the long road towards a more sustainable sector. Tackling fragmentation in the industry through greater collaboration, as well as spreading and sharing knowledge that can improve sustainability performance is essential if we are to effectively deal with the complexity of buidling a more sustainable sector. The lack of reliable data and research on the topic and the dearth of suppliers for sustainable materials, and of craftsmen and manufacturers who authentically achieve sustainability through their practices severely impairs the industry’s ability 28

World Diamond Magazine | Fall 2019

to move forward and join others in the sustainability adventure. Focusing on these opportunities will not only help the gem and jewellery industry progress towards a more sustainable future but will do much to improve the industry’s image and market standing as well. About Danielle Keller Danielle Keller -Aviram is an independent jewellery designer based in Berlin, Germany. She holds an M.A. of the Akademie Mode & Design of Berlin, with a specialization in sustainability in fashion. About Estelle Levin-Nally Estelle Levin-Nally is CEO and Founder of Levin Sources, a consultancy and social venture that builds sustainable, valuable and equitable minerals sectors. Estelle is an Advisory Board member for the CRAFT Standard (Alliance for Responsible Mining); Advisory Board member for Ethical Metalsmiths serving on the Responsible Sourcing committee; the Ethical Sourcing

Ambassador for the Women’s Jewellery Association, UK; Founding Member of the Better Business Committee of the UK’s National Association of Jewellers; Advisory Council Member of the East and Southern African Coloured Gemstones Alumni Forum, and Ethical Sourcing Ambassador for the Women’s Jewelry Network. She previously served for over 10 years on the Standards Committee of the Responsible Jewellery Council until May 2019, served on the Technical Advisory Group for Fairtrade Gold (2015-2017), was a founder member of the British Ethical Jewellers Association (20072009), and was founding Co-Chair of the Ethical Diamonds Group of the Madison Dialogue (2007). Estelle was named #48 Top 100 Modern Slavery Influencers 2018; #15 Top 100 Conflict Minerals Influencers 2017 and #52 in 2016. She holds an M.A. in Geography from the University of British Columbia and another M.A. in Geography from the University of Edinburgh.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

DECONSTRUCTING THE NEXT GREAT JEWELLERY CONSUMING GENERATION

By Jonathan Kendall, President CIBJO Marketing & Education Commission

World Diamond Magazine | Fall 2019

IN THIS REPORT I WISH TO REITERATE HOW ABSOLUTELY CRITICAL IT IS THAT ALL OF US UNDERSTAND GENERATION Z AND THE IMPLICATIONS THAT THIS GIANT CONSUMER GROUP HOLDS FOR OUR BUSINESSES AND OUR INDUSTRY. Jonathan KENDALL, President of the CIBJO Marketing & Education Commission.

any of you may remember that I dedicated last year’s special report to Gen Z, and I also have spoken at length about the topic in industry forums during the interim. So, this is not so much a new topic, rather than one that I believe we have to place front and centre in our minds to achieve future success.

SOCIAL MEDIA PLAY A HUGE PART IN THEIR LIVES

Gen Z is coming to our markets very soon if it has not already arrived in reality. Its members are forecast to spend a whopping $143 billion this year alone. So we better get them on our side if we want to enjoy a rosy future.

On a daily basis on Instagram alone users publish over 95 million posts, and its users click more than 4.2 billion likes.

In fact, the future success of the jewellery industry will depend on our understanding the needs and wants of Generation Z. Get this right and we can all look forward to strong profitable years moving forward. Get it wrong and we could be destined for the scrap heap – not overnight maybe, but ultimately. So what do we really understand about today’s 15 to 25-year-olds? Here are some facts to start your journey of discovery into the ways they think, what they do, what they want and much more. I cannot pretend to cover all the aspects of this new generation, but my intention here is to open your minds to the opportunities that lie ahead.

Gen Z loves Instagram, WeChat, WhatsApp and many more applications. They allow its members to talk to a global community, like no generation has done before them. They compare products, experiences and opinions continuously.

Just imagine the scale of this opportunity if your new product meets their aspirations and desires. Your audience and potential client base can literally escalate in minutes. Let’s take the travel industry as an example of a business sector where the impact has been fast, occasionally furious and sometimes devastating. Businesses that have been unable to adapt, find themselves being left behind in a very short period of time. Gen Z are the most well-travelled group in history, with a real passion for seeing the world. Most of their trips are social media inspired, meaning marketing to them has to prioritise social media over old style methods, such as travel magazines. Research suggests that more than 80 percent of trips are influenced by social media, with the sharing of images,

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

MARKETING

links relating to accommodation, landmarks and more having a major effect on holiday choices. Gen Z books late, usually fewer than three months before actually going away. This reflects the desire for spontaneity. For marketers, consequently, it’s important to note how offers are pitched. Late deals, room upgrades, bonus tours and suchlike are likely to win over these Gen Z travellers. And they are often looking for adventure, or so say one in every three Gen Zs. They seek local experiences, authenticity and they love unique things. So, what can we in the jewellery world learn from this? Probably the single most important point is the power of the Internet and how we have to use it to communicate to our customers in a relevant and modern way. If we don’t focus on social media, we simply won’t have a future.

BUSINESS AND CAREER ASPIRATIONS

Gen Z really want to change the world. Around 40 percent would like to become entrepreneurs, and about half of these say they want to invent something that is revolutionary. We all know starting businesses is tough, so an opportunity exists to support budding young entrepreneurs. Industries and companies should be considering providing social entrepreneurship programs which could offer mentorships, networking, community and technical support. Such ideas would certainly influence for the better Gen Z’s perception of any business or brand. The jewellery industry has a good record for supporting new designers and craftspeople, having hosted competitions and sponsorship programs for many years, giving them valuable experience that would help them launch their own businesses one day.

The environment and particular climate change, is pegged as Generation Z’s leading issue of concern.

World Diamond Magazine | Fall 2019

ALMOST ONE THIRD OF GEN ZS HAVE BOYCOTTED A COMPANY THEY PERCEIVE AS GUILTY OF UNSUSTAINABLE PRACTICES.

However, there is always far more we could do and its clear these budding entrepreneurs would warm to more such activity. We need to encourage younger people to excel and, in so doing, bring into our ranks the new talent which is vital to a vibrant future.

THE ENVIRONMENT IS THE NUMBER ONE CONCERN

Second-hand shopping makes a lot of sense for sustainability minded, financially savvy Gen Z. One in three members of Gen Zs expect to buy second-hand clothes, shoes or accessories, which is some 46 percent up from the amount reported in 2017. They are buying and selling second-hand stuff on sites like Poshmark, Depop, StockX. Demand for second-hand, driven by Gen Z is expected to push the resale sector to $51 billion by 2023. So, what is the appeal of second-hand? The answer is simple. It’s considered a sustainable way to keep up with trends. Climate change looms in their minds and they want products that reduce environmental impact.

Almost 70 percent of people in this generation consider sustainability to be an important factor in making a purchase. Eco-friendly products and brands are booming, and second-hand makes sense, because it involves reusing a product that otherwise may have been thrown away. Using less stuff is preferable to recycling because it consumes far fewer resources. It is estimated that we would save 2.6 billion kilograms of carbon emissions, 95 billion gallons of water and 204 million kilograms of waste if everyone bought one used item instead of an equivalent new product this year. Gen Z’s understanding of these facts means that the resale market will continue to surge. As an industry we sit in a really positive place for reusing. But we need to market this aspect of our offering in a new way, so this generation will buy our products enthusiastically. Reusing should be a strong part of a jeweller’s offering, feeding into that desire to find ways of saving the planet. We should be reworking old jewellery to produce the most exquisite new pieces. This is no longer about cheap-looking secondhand pawnshops. This is about a proud new

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

MARKETING

marketing message from leading jewellers, stating that many of their fabulously designed new products incorporate second-hand elements.

AUTHENTICITY IS BIG

There’s a real interest in dressing retro with authenticity. Fashion trends never die, they just hibernate for a few decades to re-emerge, more stylish than ever. But members of Gen Z ideally like to buy the real deal products from the original decade. For the jewellery industry this again hands us a range of opportunities. Do the big brands and original pieces of decades past provide us with a major sales opportunity, whether as originals or copies? The answer is probably “yes,” and this is certainly a concept to be tested at retail. Authenticity is considered cool by about two thirds of the members of Generation Z. So the jewellery industry should be keeping authenticity at the heart of its product offering. Jewellers and brands should consider collaborating with vintage brands to create retro products with a contemporary spin and be sure to tell an authentic story. Or they should seek out bona fide vintage jewellery items, and offer them at their stores alongside new merchandise.

World Diamond Magazine | Fall 2019

GENDER-AWARE AND GENDER NEUTRAL

Gen Z is most probably the most gender-aware and gender-diverse population in human history. A Pew Research Centre study conducted this year found that about 35 percent of Gen Z individuals polled said that they know someone who prefers that others use genderneutral pronouns when referring to them. The digital world has opened its eyes to differing points of view, attitudes and cultures. There is no “ideal,” not for hairstyles, dressing, jewellery or anything. Members of Gen Z don’t want to be classified. They want to be fluid. One thing today, and tomorrow, maybe, something different. Gender neutral products, campaigns, and spokespeople are becoming commonplace. Mac and NYX cosmetics, for example, now incorporate males in their advertising campaigns, realizing that marketing should appeal to people across the gender spectrum. Brands like Fluide cosmetics founded by Laura Kraber were inspired by the activism of Gen Z with regards to LGBTQ and gender identity issues. Kraber says she wanted to create Fluide to represent and reflect the diverse identities of teenagers today, supporting their

self-expression and offering an authentic, inclusive beauty brand. Gender neutral clothing is on the rise. H&M, Sketchers, ASOS all acknowledge there is no single idea of fashion. The jewellery industry needs to adapt. Take a step back from pieces for men or women. Who will be the first to design a perfect gender-neutral ring or necklace, which will be the iconic piece of the 2020s?

CELEBRATING DIVERSITY AND IMPERFECTION

We need to embrace authenticity and inclusivity through our marketing, including the models that we employ. We all need to update our marketing thinking and collateral. Gen Z celebrate individuality and wants to engage in visual media as varied and diverse as the modern world.

Six out of 10 of its members say that they like seeing ads that show diverse families. They want to see people who look like them and their friends. They want to see real people in real situations in advertising. Celebrate diversity in all its forms. Use models of different sizes, of different colours, with different physical features, different ages and wearing different clothes. The more you reflect the melting pot of life, the better. And the models do not need to be perfect. Indeed, in general perfection is considered to be artificial.

‘FRIENDLY’ BRAND NAMES AND PERSONAL

More and more companies are using human sounding brand names to appeal to Gen Z. Ollie is a fresh dog food delivery company, Billie a personal care brand, and Casper a sleeping product brand. These sound more like friends than do most classic brands.

WHAT MAKES A GREAT SHOPPING EXPERIENCE FOR GENERATION Z?

Gen Z has little interest in the aspirational marketing of the past, rather preferring brands that are authentic, relatable and have a purpose. Its members seem to like brands that reflect their own persona. in advertising they want to see real life, and on social media they often prefer normal rather than famous. Brands need to stand for something. Their intentions must be real.

WORD OF MOUTH IS IMPORTANT AND MORE SO REVIEWS

Members of Gen Z like recommendations from people they trust, and especially friends. Some luxury brands are using pop up stores to build brand familiarity and increase word of mouth marketing opportunities. Experimental retail is also great as people talk about what they’ve seen and experienced. More than 80 percent of Gen Z customers read reviews before they buy products, and especially Gen Z women, where some 21 percent are reading more than 10 such reviews before buying. So, an opportunity exists here for the jewellery industry. Since jewellery is often entwined with life’s

It’s actually the little things that make all the difference. Members of Gen Z may be a digitally immersed bunch, but they still enjoy Brick and Mortar shopping. They crave good old-fashioned customer service, and instantaneous and clear responses to their questions. The training of retail staff must be the top priority for jewellers.

Members of Gen Z are most impressed by friendly staff that go out of their way to help and find what they need. Examples of great instore behaviour and design were highlighted in recent research:

Sales staff must really talk with confidence about diamonds, pearls, metals, coloured gemstones, precious coral and responsible sourcing, which is why CIBJO will be releasing and updated edition of the CIBJO Retailers Reference Guide in 2020.

• Product expertise is highly regarded;

Knowledge is key to selling with confidence.

• Regulars in coffee shops love to be called by their first name and have their drinks ready without asking;

• And well organised easyto-navigate stores are most popular, as Gen Zs have notoriously short attention spans. They are not patient in a maze of displays. These are all basics requirements, and easier to adopt before geeking out on in-store tech.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

MARKETING

milestones, like graduation and marriage, getting Gen Z to share their experiences with friends is a huge opportunity. With genuine opinions from the very people who your clients identify with, you can build trust in your business very quickly.

GEN ZS ARE SOCIALLY CONSCIOUS

Social impact is very important to members of Gen Z. They expect you to do good things and support those in need in your local community. You must walk the talk and support the issues people care about, with climate change being at the top of the agenda. Gen Z craves environmentally friendly products. Some 82 percent of its members are more likely to buy a product with good environmental credentials. What’s more, Nielsen research shows that 77 percent are prepared to pay more for environmentally friendly products. Almost one third of Gen Zs have boycotted a company they perceive as guilty of unsustainable practices. They want to know who handled the product and how it was made. The pipeline to the market must be transparent.

THEY ARE FINANCIALLY SAVVY

Gen Z loves luxury as much as previous generations, but they are wary of buying on credit, having seen the disastrous impact this had on their parents. So, don’t think

that offering financing deals is the answer to boosting sales in the future. They are more likely to save up for their next piece of jewellery rather than buying early on credit. Gen Z is prepared to splurge but it must be worth it. The more added value the better, and that can come from its environmental credentials or its social value. Gen Z understand money more than those before them thanks to the financial crisis of 2008. Businesses need to take this economic literacy seriously, to be trusted and build longterm relationships, particularly as the members of Gen Z mature, gaining more spending power.

AND FINALLY...

If you really want to keep up with this everchanging world it might be best to have a 20-year-old mentor. In today’s disruptive environment turning mentoring upside down might be the one way to keep your finger on the pulse of the market. And for the umpteenth time, do not discount the impact of climate change. It is quite rightly Gen Z’s greatest concern. It is also an area where CIBJO can help, as we have since 2011 when we launched our Greenhouse Gas Initiative. At the upcoming CIBJO Congress in Bahrain in November, we plan to present these challenges in greater detail.

Members of Generation Z celebrate diversity, and are suspicious of representations of human perfection, which they consider artificial and inauthentic.

World Diamond Magazine | Fall 2019

ZEN DIAMOND CELEBRATES THE OPENING OF ITS FIRST STORE IN USA Z

en Diamond, a well-known Turkish diamond jewellery manufacturer with a deeprooted family tradition in jewellery making that has been passed down during many generations, opened its first U.S store at Westfield Garden State Plaza, in Bergen County, New Jersey, in September.

“During the past three years we have been growing constantly abroad with stores in cities like Dusseldorf, Cologne, Hamburg, Dubai, Abu Dhabi, and also in Kuwait. Establishing a presence at this pre-eminent mall that is hailed as one of the most influential malls in the country for prominent brands, is very important in our growth strategy as a global diamond jewellery brand and underscores the importance of the US market,” said Emil Guzelis, CEO of Zen Diamond. “We have designed the store with the warmth and elegance that make our jewellery collections a pleasure to explore, and we look forward to welcoming everyone to the Zen shopping experience.” Visitors will discover various designs featuring diamonds and coloured gemstones. Among them is a broad wedding collection, ranging from engagement rings to

wedding bands, as well as eternity rings for those cherished moments in life, such as anniversaries and other special occasions. Modern or classic, many diamond models in different styles are available. Models designed with Forevermark diamonds attract the attention of visitors in the Zen Diamond store In its new store, Zen Diamond also introduced its Forevermark line. Zen Diamond is an Authorised Jeweller of Forevermark, the diamond brand of De Beers Group. Every Forevermark inscribed diamond is completely natural, hand-selected and comes with a promise that it is beautiful, rare and responsibly sourced. Selected by hand, less than 1 percent of the world’s diamonds are eligible to become a Forevermark diamond. Every step of its journey adheres to strict criteria, calling on master craftsmen and the most experienced of experts to ensure that only the most beautiful diamonds are chosen to be inscribed as Forevermark. Elegant designs featuring beautiful Forevermark diamonds are waiting for welcoming their new owners.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

NEWS

ASEAN GEMS & JEWELLERY ASSOCIATION CONFERENCE 2019

ISTANBUL

The Association of Southeast Asian Nations (more commonly known as ASEAN) is an intergovernmental organization aimed primarily at promoting economic growth and regional stability among its members. There are currently 10 member states: Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Laos, Myanmar, Cambodia and Vietnam.

World Diamond Magazine | Fall 2019

uring the past decade, the Turkish Jewellery Exporters’ Association (JTR) has actively participated in the “ASEAN Gem & Jewellery Summit,” a summit of the leadership of jewellery associaitons from ASEAN countries, with the explicit goal to advance the Turkish jewellery sector, to foster new relationships and ties and to promote Turkey’s interest. In 2018, the seventh ASEAN Gems & Jewellery Association Conference was held in China. This year, Tukey has the honour of hosting the 2019 edition of this conference takes place this year in Istanbul between 8-12 October. The event coincides with Istanbul Jewelry Show. The purpose of the conference is to share information, spread and share knowledge about the participants’ mutual industries, their capabilities, jewellery products and markets. This year, a large number of delegations, both from ASEAN countries, as well as from countries that seek improve and develop their commercial relationships with ASEAN country members, will come to Istanbul to take part in the 8th ASEAN Gems & Jewellery Association Conference. Thr partipcipating countries, are among others, Australia, China, Hong Kong, India, Israel, Italy, Japan, South Korea, New Zealand, Sri Lanka, Taiwan and Turkey. Representatives from the USA, the European Community,

Canada, Russia, as well as Switzerland, Norway and Pakistan will also attend, with the purpose to gather information and enter into dialgoue with the attending countries’ associations. The representatives of all attending countries will spend their time networking, discuss new ways and proposals to eliminate obstacles in doing business,and look at, compare and try to asses how to harmonize their import and export regimes, so to lower the threshold for mutual business deals. For Turkey, the ASEAN Gems & Jewellery Association Conference is a unique opportunity to showcase the Turkish jewellery sector, demonstrate its manufacturing capabilities, display its capacity for growth and show its export strength and further potentional. The synergy created by means of the hosting of ASEAN Gems & Jewellery Association Conference will no doubt help propel Turkey’s; industry forward and result in a sustainable increase of jewellery exports from Turkey. About 45 countries are expected to attend, among them dlegations of theose countries’ most important jewellery importers. A total of 235 people are expected to participate in the ASEAN Gems & Jewellery Accociation Summit which is planned to be hosted by JTR between 8 October 2019 - 12 October 2019.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

MARKETING

DPA PUSHING INTO TWO

ASIAN MARKETS

The third wave of the Real is Rare, Real is a Diamond campaign in the USA, entitled For Me, From Me, is inspired by the natural diamond industry’s strongest growth engine, women self-purchase, which today represents almost one-third of all diamond jewelry sales in the US, a $43 billion diamond market that grew more than 4 percent in 2017, according to De Beers Group data. The campaign is run by the Diamond Producers Association (DPA).

he campaign videos were debuted during 2019 Oscar coverage in February and will continue through the fall. The DPA’s research conducted in 2018 helped uncover why women consider natural diamonds the ultimate selfluxury: they can be worn every day with any outfit, they last a lifetime and can be passed down, and they are a good investment because they retain their value. The campaign was created with the needs of the retail community in mind. For Me, From Me communicates a simple message, and retailers play a critical role in making it mainstream. The fully integrated mix of assets including video, stills and in-store collateral will run through Fall 2019 across TV, digital, print and out of home. The DPA has been on-boarding leading retailers across the country to take part in amplifying the campaign and taking advantage of an expanded assortment of customisable in-store materials. Tagged videos, billboards, radio scripts, print and digital creative, visual merchandising support and point-of-sale (POS) materials give retailers the tools to amplify the campaign and further leverage the

World Diamond Magazine | Fall 2019

DPA’s national marketing investment. A new marketing portal was created to make ordering assets for retailers easier than ever. The new portal can be found at shop.diamondproducers.com. Along with traditional marketing assets, the DPA offers a great selection of still and video assets to be used on social media that can also be found on the new marketing portal. Retailers taking part in amplifying the campaign also have the benefit of free in-store or webinar-based sales training done by Performance Concepts, a leading jewelry sales consulting company.

In India

In India, a country largely driven by tradition, jewelry purchases also follow a predictable cadence. Engagements, weddings and festivals are the major purchase triggers for gold and diamond jewelry, all of which are seasonal in nature. The desire to create a diamond purchase occasion which holds relevance throughout the year was the catalyst for the new DPA India campaign #NewMomGift. The birth of a child is a milestone in a couple’s journey. Childbirth is the most precious, rare and real moment

in a couple’s life, therefore it can be argued strongly that only a gift as rare, precious and miraculous will do to mark the occasion; a miracle of nature – diamonds. DPA India is working with industry stakeholders to make #NewMomGift a new occasion for diamond purchase. The new commercial beautifully highlights the celebration of life, with this miracle of nature. The TVC had a high-impact launch targeted towards the urban, affluent and aspirational audiences, with presence during Indian events with high viewership like Cricket, Bollywood reality shows & anticipated international series, along with airing across channels and regions pan-India. Along with a robust social media and digital push, the DPA also engaged influencers such as cricketers, TV celebrities and wives of Bollywood A-listers who are all new parents to showcase their real and rare moments around childbirth and how they celebrated with diamonds. Trade engagement began with weekly mailers and utilizing social media to create awareness and generate interest in the concept. There are currently 450 stores who have been onboarded

DPA INDIA IS WORKING WITH INDUSTRY STAKEHOLDERS TO MAKE #NEWMOMGIFT A NEW OCCASION FOR DIAMOND PURCHASE. THE NEW COMMERCIAL BEAUTIFULLY HIGHLIGHTS THE CELEBRATION OF LIFE, WITH THIS MIRACLE OF NATURE.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

MARKETING as ambassadors for the program. When a retailer comes onboard as an ambassador, they will stock various designs of the designated #NewMomGift, a half diamond bangle, in each of their stores. Retailers introduce unique offers to drive consumer interest, ensure in-store collateral is utiliSed and create visibility of the occasion on their website with home page banners and special offers. To further amplify the message with a key audience, new fathers in maternity wards are being targeted and encouraged to purchase a #NewMomGift through special offers from retailers. Together with the trade, DPA India hopes to build a strong association with diamond jewelry purchase in the Indian consumersâ&#x20AC;&#x2122; minds. #NewMomGift marks an occasion that is inherent to Indian culture and an integral part of every family across the country, but is not restricted by seasonality, thus celebrating the miracle of life with diamonds - billionyear-old miracles of nature.

Embracing China

DPA CHINA LAUNCHED THE HANDS IN LOVE CAMPAIGN IN MAY 2019. THE CAMPAIGN EXPLORES THE LOVE RELATIONSHIP OF 15 CELEBRITY COUPLES, ASKING THEM TO SHARE THEIR OWN PERSONAL PERSPECTIVE ON HOW THEY EMBRACE PRECIOUS LOVE IN THEIR RELATIONSHIP. 42

World Diamond Magazine | Fall 2019

DPA China launched the Hands in Love campaign in May 2019. The campaign explores the love relationship of 15 celebrity couples, asking them to share their own personal perspective on how they embrace precious love in their relationship. Two of these couples are featured in a video storytelling series which has generated more than 70 million impressions to date. The Hands in Love campaign is further amplified with a user generated content (UGC) retail activation.

The campaign has currently been rolled out to over 1,000 retail doors across 282 cities in China, and further promoted via their social media platforms. Participating retailers utilise POS materials to encourage customers to share their own personal precious love stories. Every month the best UGC story is chosen, and the participant receives a diamond jewelry gift. There is also a store incentive program to encourage retailer participation in the campaign. POS materials feature a unique campaign QR code, which allows for easy sign-up and sharing. To help retailers communicate about the uniqueness of natural diamonds DPA China has created a Real is Rare, Real is a Diamond content bank and provides exclusive, customisable content and natural diamond stories to retailers on a monthly basis. This initiative has been well received by Chinese retailers and has been leveraged across social platforms, i.e. Wechat and Weibo to reach target audiences. DPA China is also in the final development phase of an innovative diamond storytelling mobile training program for retailers, expected to launch next year. The occasion-based diamond knowledge training tool integrates natural diamond knowledge, facts and trends in the modern retail selling process and consumer insights across 5 major diamond shopping occasions. Modules also include objection handling Q&A as well as best practices to strengthen diamond selling skills at the retail level.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

DIAMONDS

VIRTUAL DIAMOND POLISHING: PRINCIPLES AND ADVANTAGES What if you could polish a rough diamond to perfection, without even putting it on the polishing wheel? Virtual polishing is an innovative method that lets you do just that. How does it work? Diamond cutter Yossi Atuar will try and illustrate the process. 44

World Diamond Magazine | Fall 2019

he traditional ways of processing diamonds are hundreds of years old and are based on the accumulated experience and knowledge of the best, optimal polishing angles for each model of a polished diamond. As computer technologies and threedimensional (3D) simulation software developed, it was only a matter of time until the diamond industry would innovate and adopt advanced, technology-driven methods for rough and polished diamond planning. Today, cutters and polishers often plan rough or polished diamonds using automated optimisation software that plan and simulate the entire process, from the diamond in its rough state, to the polished diamond. As such, “virtual” polishing takes the planning process for diamonds one step forward to ensure a plan that will yield the best possible diamond. Yossi Atuar, an expert polisher, has developed a virtual polishing system, both for colourless and fancy colour diamonds. Below, he explains how the system works.

What is Virtual Polishing?

Virtual polishing is done using 3D software customised for the diamond industry. These systems take into account all the parameters, using proven scientific principles, to produce diamonds in different cuts.

the gathered data and their processing, the software then simulates how the different factors impact the diamond, including its colour. Another advantage of virtual polishing is that the service can be provided online, canceling the need to physically transport the diamonds.

Planning fancy colour diamonds

The system enables the user to plan both rough and polished fancy colour diamonds. The virtual planning of fancy colour diamonds is more complex than for their colourless counterparts. The system, however, has a distinct advantage over actual polishing “in the field”, as it allows the user to try different options without ever touching the diamond and risk losing valuable raw material. In its pure form, a diamond is a colourless mineral. Fancy colour

diamonds were created because during these diamonds’ formation, millions of years ago, other chemical elements were “trapped” inside the diamonds, affecting their evolution. Nitrogen, for example, gives a stone yellow hues, while boron makes it blue. Distortions in a diamond’s crystal lattice, in contrast, result in the loss of certain wave lengths, as is the case with pink diamonds. Planning diamonds in fancy colours of this type is tougher than planning coloured diamonds with trace elements. Polishers of pink diamonds are familiar with the colour fluctuation when they work, and the difficulty in assessing the result– whether they use traditional methods for cutting or more advanced methods. Virtual planning enables the polisher to minimise the risk and dramatically improve the chances of success.

The first principle, developed in the mid-90s, was based on the premise that every action performed on the polishing wheel can also be planned and mapped out on the computer. The resulting instructions can then be implemented on the diamond polishing wheel. The compatibility between the virtual polishing and the actual polishing is so high that all a polisher has to do is follow the work plan – just like in any other advanced production and processing industry. Alongside the planning of known and familiar models or the planning of new conventional models, the system also enables the user to plan new models that still lack specialised tools. The systems’ software knows how to analyse light performance, including refraction, reflection, splitting and more. Based on

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

DIAMONDS

To start the virtual planning process, all a manufacturer has to do is to send a scanned image of the stone via email, an image of the diamond from various viewpoints, an analysis of spectroscopy (if available), a description of the desired model, the level of clarity and a number of other parameters. The system is then calibrated according to the data provided and the virtual polishing process can begin. The process enables the user to control the architecture of the model and adapt it to the given rough stone. The user can experiment, using different combinations of facets to achieve the maximum yield and added value of the stone. At the end of the process, the computed model is imported into the manufacturer’s own decision-making system and software, for laser marking. The process of building the model is long and complex and hardly resembles the standard automatic marking performed through the decision-making system.

The importance of the diamond image

Since the light reflected back is the sum of the light going in minus the absorption lines, the stone should be photographed against a white background. To enable the system to accurately measure the stone’s colour, the diamond must be photographed using white light according to the industry standard – illuminant D65, which simulates natural daylight. Using any other background could affect the desired result. The image should be saved in RAW format, which captures all the unprocessed image data, 46

World Diamond Magazine | Fall 2019

although this is not a deal breaker. It is also important to control the amount of light exposure in the photo, so the image does not have “burnt-out” areas.

The advantages of virtual polishing

All the current planning systems in the market operate on the principle that the 3D model of the polished stone is preprepared. All the computations done to achieve added value use the same pre-prepared model of polished stone. This is a precise, highly effective method as the user becomes more proficient in the system. Virtual polishing enables the user to build a computerised model, just like he/she would while polishing using more traditional methods. The most salient advantage of computerised polishing is the user’s ability to control the model’s architecture and add or subtract facets as needed. When planning a model for a specific rough diamond, virtual polishing is essentially a customised polishing process that becomes increasingly more advisable as the value of the rough stone increases. “All the virtual polishing tools I use were chosen from a wide selection of software, repeatedly tested from stones I personally polished. When dealing with diamonds in general and fancy colour diamonds in particular, only virtual polishing enables a pre-planned, rational processing of the stone, as well as the freedom to experiment and be creative,” Atuar concluded.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

DIAMONDS

RIO TINTO TO SELL ITS ANNUAL CHOICE OF PINKS AND REDS Toward the closure of its Argyle diamond mind in 2020, Rio Tinto makes a splash with a new collection of rare Argyle pink diamonds and auctions six rare special stones pink and red single stones.

io Tinto has launched a new collection of rare pink diamonds from its Argyle diamond mine in the east Kimberley region of Western Australia. Known as the “Argyle Pink Everlastings™ Collection”, this beautiful offering has been curated to showcase the full colour palette of Argyle pink diamonds, weighing 0.14 carats and below. The Argyle Pink Everlastings™ Collection comprises 64 lots and

World Diamond Magazine | Fall 2019

weighing a total of 211.21carats it represents just two per cent of the Argyle pink diamond annual production. It is expected that less than 100 carats of the equivalent profile will be produced by the mine prior to closure in 2020. Jewellery historian Vivienne Becker said, “The Everlastings Collection™, representing one of the last offerings of its kind from the Argyle mine, will feed the unstoppable demand from designers and jewellers who appreciate

the finite rarity of these beautiful gems”. Encapsulating a rich history and an extraordinary provenance, every lot in the Argyle Pink Everlastings™ Collection is accompanied by a Certificate of Authenticity. Rio Tinto Copper & Diamonds vice president of sales and marketing Alan Chirgwin said “We are delighted to offer for the first time ever this unique collection of rare Argyle pink

diamonds, destined to be in strong demand by the world’s finest jewellers. “The accumulation of these diamonds from a certifiable source in various shapes, sizes and colours is the result of a painstaking endeavour, unlikely to be ever repeated.” The Argyle Pink Everlastings™ Collection will be tendered alongside the annual Argyle Pink Diamonds Tender in Perth, Singapore, London and New York with bids closing on 9 October 2019. The Argyle Pink Diamonds Tender The 64-diamond collection, including three Fancy Red diamonds and weighing 56.28 carats in total, make up the 2019 Argyle Pink Diamonds Tender. “These diamonds, each a natural treasure, are a testament to the enormous range and depth of offering from the Argyle ore body, nearly four decades from when production

commenced. Rio Tinto’s Argyle mine is the first and only ongoing source of rare pink diamonds in history. With the lifecycle of this extraordinary mine approaching its end, we have seen, and continue to see, unstoppable demand for these truly limitededition diamonds and strong value appreciation,” said Rio Tinto Copper and Diamonds chief executive Arnaud Soirat. The 2019 Argyle Pink Diamonds Tender collection, titled “The Quest for the Absolute” comprises six hero diamonds:

The Argyle Verity™, a 1.37 carat oval shaped Fancy Vivid Purplish Pink diamond The Argyle Opus™, a 2.01 carat round shaped Fancy Intense Pink diamond The Argyle Avenoir™, a 1.07 carat oval shaped Fancy Red diamond The 2019 Argyle Pink Diamonds Tender was showcased in Perth, Hong Kong and New York, with bids closing on 9 October 2019.

The Argyle Enigma™, a 1.75 carat modified radiant Fancy Red diamond The Argyle Amari™, a 1.48 carat heart shaped Fancy Vivid Purplish Pink diamond The Argyle Elysian™, a 1.20 carat modified cushion shaped Fancy Vivid Pink diamond

The Argyle Pink Everlastings™ Collection comprises 64 lots and weighing a total of 211.21carats it represents just two per cent of the Argyle pink diamond annual production. It is expected that less than 100 carats of the equivalent profile will be produced by the mine prior to closure in 2020.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

World Diamond Magazine | Fall 2019

THE WORLD’S LEADING PRODUCER OF JEWELLERY MOUNTINGS The Turkish jewellery industry has established its international reputation as a leading manufacturer of jewellery mountings. Every year, hundreds of thousands of Turkish-made pieces are turning into beautiful, finished jewellery in various ateliers and factories worldwide. Mountings are one of the most important categories in the global jewellery industry. When diamonds and coloured gemstones are set into a mounting, it is that mounting’s design, diversity and quality of production that define its marketability.

The Istanbul Precious Stones Exchange

Turkey is one of the world’s most important actors in this category and due to its design varieties, the ready availability of quantity stocks, and of course, its production and quality, Turkey has left most of its competitors in the mounting category behind.

Turkey has long lacked a diamond and coloured gemstone exchange. With the establishment of the Istanbul Precious Stones Exchange, and its membership in the World Federation of Diamond Bourses, Turkish diamond, gem and jewellery companies gained access to the global trading network, on par with bourses in centres such as Antwerp, Dubai, New York and Ramat Gan (Israel). As a result, the volume of transactions and sales are increasing every day.

Mountings: a huge market

Private Consumption Tax Zeroed

To understand the magnitude of the mounting market, we need to gauge the size and volume of the global jewellery market. After all, the “marriage” between diamonds and coloured gemstones is what makes a piece of jewellery attractive and saleable, each in its own category and price range. There is no question that in recent years, the reforms introduced by the government have given the Turkish jewellery industry a boost and enabled it to compete more successfully in the global markets. As a result, the opportunities for mountings manufacturers have improved. These are some of the reforms that have had a positive impact on Turkey’s jewellery industry.

Members of the Istanbul Precious Stones Exchange are exempt from the Private Consumption Tax.

Foundation of foreign companies easier

With the changes instituted in the Turkish trade laws, it is now fairly easy for foreigners to establish a company in Turkey. In Kuyumcukent, one of world’s largest gold production complexes, the number of foreign companies has already exceeded 150.

Dubai tax policy change

The change in tax policies in the United Arab Emirates, increased Turkey’s chances to become a centre in the global precious metals, diamond and gemstone markets, making Turkey an attractive hub for foreign companies. The proof

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

JEWELLERY in the pudding is the increase in foreign companies operating in Turkey and the increase in trade with these companies’ home countries.

Mustafa Kamar: Turkey is a market leader in mountings Whether it is at international jewellery shows in Istanbul, Las Vegas, Vicenza, Dubai or in other countries, Turkish mounting companies are doing brisk business at each fair. Mustafa Kamar, President of the Turkish Jewellery Exporters’ Association (JTR) said that; “Turkey is in a leading position, comparable to that of South Korea, in the manufacturing and marketing of mountings. We are specifically leading the category due to our innovative and desirable designs. And as a result of the industry’s reforms of the past few years, we are well on our way to take the lead in this jewellery category. In addition to the high quality of our products, we also have an advantage when it comes to delivery times due to our very effective and well-run management of our inventories and stocks!” Kamar stated.

Mustafa Akın: We are constantly improving

TURKEY IS IN A LEADING POSITION, COMPARABLE TO THAT OF SOUTH KOREA, IN THE MANU-FACTURING AND MARKETING OF MOUNTINGS. WE ARE SPECIFICALLY LEADING THE CATEGORY DUE TO OUR INNOVATIVE AND DESIRABLE DESIGNS. Mustafa KAMAR President, Jewellery Expoters’ Association of Turkey

World Diamond Magazine | Fall 2019

retailers in our national market are also a proof of that. Turkey has become one of the most important countries in mountings. Currently, it’s impossible for you to find a larger ready stock in any other country in the world. Our country has critical advantages. We were not able to use these because of few legal and tax problems. With the recent reforms done by the government we are now fully able to use our advantages. I believe that we will continue to see this development increase even further.”

Kerim Güzeliş : We have unique advantages

Kerim Guzeliş of Ariş Jewelry; ‘’Our country has unique critical advantages, which came available to us after the Turkish government removed We were not able to use these because of a number of obstacles, mostly in the legal and tax areas, were preventing export growth. With the recent reforms instituted by the government, we are now in a much better competitive position and therefore, I believe that we will continue to see our output and exports grow significantly in the coming years.’’

Mustafa Akın, chairman of Sade İş Jewelry, one of the most important Turkish mounting firms, explained the underlying reasons for Turkey’s success in the mounting category, “There are two different aspects that have had a positive influence on the mounting category in Turkey. First, export reforms have impacted the category positively. At the same time Turkey is a large market with 80 million population which is mainly young. The domestic diamond jewellery market is expanding each day. It keeps the demand high and this helps us to develop ourselves further. We are constantly improving ourselves in the national and international markets. We participate in each show with thousands of pieces. It is not easy to find this kind of a selection in other countries.”

Atilla Keskin: We are constantly improving ourselves

Ömer Çağlar: Turkey keeps going forward

Great advancements are being observed in precious stones category in the Turkish jewellery industry. The structural reforms carried out in recent years and the launch of Istanbul Stock Exchange and Istanbul Gold Exchange by Borsa

Ömer Faruk Çağlar of Somoro Mounting: ‘‘We are in a position that makes us one of the most important gold producers in the world. With this, 30,000

‘’Our domestic diamond jewellery market is expanding each day. It keeps the demand high and this helps us to develop ourselves further. We are constantly improving ourselves, both in the national and international markets. Fortunately, the Turkish jewellery industry has many critical advantages. Turkey is one of the top producers and exporters in the gold jewellery category. I believe that our industry will become one of global jewellery industry’s most important diamond jewellery manufacturers and exporters in the diamond jewellery category too!’’

Turkey is advancing in precious stones category

Turkey is one of the worldâ&#x20AC;&#x2122;s most important actors in this category and due to its design varieties, the ready availability of quantity stocks, and of course, its production and quality, Turkey has left most of its competitors in the mounting category behind.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

Emil GÜZELİŞ / ZEN

Mustafa AKIN / SADE İŞ

Erol AKDEMİR / LIDA

Atilla KESKİN / ALTINBAŞ

Kerim GÜZELİŞ / ARİŞ

Ediz DERELİ / EDİZ DERELİ

Atilla ANLI / ATİLLA KARAT

Ö. Faruk ÇAĞLAR / SOMORO

Istanbul have also contributed to the growth of the precious metals and stones market. Some of the important names in the precious stones category in Turkey expressed their views on this subject as follows;

Emil Güzeliş: Diamond jewellery sales on the rise

‘’Turkey makes much of its export by selling gold jewellery. However, especially in recent years, our export of diamond jewellery and mounting has also started to increase significantly. As Turkey’s largest diamond exporter, Zen Diamond, we carry out our exports to countries around the world. The diamond jewellery category in Turkey will continue to evolve,’’ of Emil Güzeliş of Zen Diamond stated.

Erol Akdemir: Aiming diamond jewellery at young consumers

‘’Jewellery industry in Turkey continues to grow. We also observe this developments in the categories of precious metals and stones, diamond jewellery and mounting. As Lida Diamond, we are the leading company operating in the precious stone category for many years. The sector needs to be assessed from two angles. Firstly, its 80 million young population makes Turkey an important market. And secondly, due to the increase in women’s participation in business life, level of education, urban population, and advertisements, the demand for diamond jewellery will continue to increase every year. The domestic market has a significant potential. Furthermore, turkish jewellery industry has a significant production capacity. It is in the leader position of mounting sector in the world. In no other country in the World, finding such a large ready mounting stock is possible. We also took an

World Diamond Magazine | Fall 2019

important path in the precious stone category. A buyer who comes to Istanbul can choose his precious stone from a very large stock, and then selects his mounting materials from the world’s largest stock and complete all stages of his diamond jewellery production here. I believe that Turkey also will soon come to an important point in the world’s diamond jewellery category,” Erol Akdemir of Lida Diamonds said.

Atilla Anli: Building on a 5,000 old tradition

‘’Turkey is a region having at least 5000 years of jewellery culture. Throughout history, the most important jewellers of the world have grown in this geography. Our sector, which specializes in gold category, continues to develop in the diamond jewellery category. We are the world’s leading country in the mounting category. We are also making progress in the category of precious stones with legal arrangements that we make.”of Atilla Anli of Atilla Karat Jewelry said.

Ediz Dereli: A full set of advantages

‘’Turkey is now among the major centers in the jewellery industry of the world. We have advantages such as qualified workers, large production capacity, and closeness to markets. With the legal arrangements made in the past years, we are now able to make better use of these advantages. The establishment of Istanbul Stock Exchange and Istanbul Gold Exchange in Istanbul is another important improvement. Although Turkey is prominent with gold, it will become an important center in the area of diamond jewellery too. The development in both our company and our industry proves this situation,” Ediz Dereli of the epynomous company explained.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

RETAIL

HOW DO YOU COMPETE SUCCESSFULLY WITH THE BIG BOX RETAILERS?

Aleh Arundale-Siegel has a few suggestions for independent retail jewellers how to compete with retail giants such Costco, Walmart, Sams Club and others.

World Diamond Magazine | Fall 2019

ABOUT ALEAH ARUNDALE

Question: What is a retail jeweller

here in the US to do when a customer says: “I can buy it cheaper at Costco!”

Answer: If they wanted to buy at

Costco, they would have. They came to you because they want to buy from YOU. Here is how to make that happen. When I set out to write this column, I was a little nervous. My husband shops at Costco so I know they have sharp pricing. But the minute I stepped up to the jewellery display all my concerns disappeared. Why? There was no-one to help me! Just a lifeless case. No romance, no glamour, no one to tell me what other sizes the eternity band came in, and certainly no one to help me try on anything. Purchasing jewellery is 100 percent driven by emotion. Without emotion you just have shiny rocks. Buying a diamond along with rotisserie chicken takes the glamour, romance, luxury, and fun out of a jewellery purchase. And that’s what we do best: we give the customer a finely crafted, beautiful diamond wrapped in mystique, glamour, sophistication, and personal attention. We serve wine, present their jewellery on a silver tray, wear white gloves, anything to heighten the feeling of rarity and luxury.

Sell the luxury feeling that box stores can’t. In case you missed it, it’s all about service, service and service. Hey, Costco can’t even clean a piece of jewellery! They can’t size most of what they sell.

Aleah Arundale-Siegel is a 3rd generation GIA Graduate Gemologist, a fifth generation jeweller-turned-loose-diamond-wholesaler and the founder of the immensely popular Jewelers Helping Jewelers Facebook page. Selling diamonds on the road lets her share great ideas from hundreds of different jewellers from all over the country. Sign up for her Jewellery Sales Tips Newsletter by e-mailing her at Aleah@olympiandiamonds.com or calling +1-800882-8900. “We are all in this jewellery business together, lets help each other!”

Remind your customer how important servicing a ring is. Diamonds get a little loose and people gain and lose weight. Remind them a ring is not a onetime purchase. Just like a car it needs maintenance. Ask your customer: How much is it worth to have a to have a jeweller for life?

Costco is the number one seller of I VS2 Costco is the number one seller of I VS2. What is the solution? Win on colour! Sell them a D, E, F, or G-colour diamond! Tell them colour is the whole stone. An I-colour might show yellow. Show them a D- colour and watch them fall in love. If you compete apples to apples you will lose. Teach customers why what you have is better

Selection is limited You offer outstanding service • You will be there to service them; • You provide quality; • You have knowledge; • You are an experienced jeweller!

Extra costs The jewellery at a big box store might be cheap, but show your customers what they don’t get: • No appraisal ($100 cost); • No sizing ($200 cost); • No warranty ($200); • You can’t pick up the item so shipping costs ($75); • The cost of Big Box membership ($100). That can easily be an extra $500 the customer does not realise he or she is paying for. It’s just like with the airlines. The cheap ticket is not so cheap once you look at the big picture.

HONEY, YOU GET THE TOILET PAPER WHILE I SHOP FOR DIAMONDS TO REFLECT OUR LOVE! Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

SHOW

ISTANBUL JEWELRY SHOW BRINGS TOGETHER THE PLAYERS OF THE JEWELLERY INDUSTRY FOR THE 49TH TIME, OCTOBER 10-13, 2019 The show is Turkey’s ultimate platform to reach the jewellery export target of $6 billion.This year’s second edition of the Istanbul Jewelry Show, the most prominent event of the Turkish jewelry industry, takes place for the 49th time, at the CNR Expo, Istanbul Fuar Merkezi, between 10 – 13 October 2019.

World Diamond Magazine | Fall 2019

iming to reach the Turkish jewellery industry’s export target of USD 6 billion for the year, the exhibition will be showcasing more than 800 companies and brands to some19,000 jewellery buyers and professionals from 120 countries worldwide. Now recognised as one of the top five jewellery exhibitions in the world, as has become the rule the Istanbul Jewelry Show is held at CNR Expo, Istanbul Fuar Merkezi between 10 – 13 October 2019. During the past 34 years, the Istanbul Jewelry Show has been held twice annually, in March and in October. It is organised by Informa Markets, a leading, global exhibition organiser. With 17 different jewellery exhibitions in seven countries, Informa Markets has a profound history and expertise in the sector. Empowered by the important portfolio it is now part of, the Istanbul Jewelry Show is among the top trade fairs closely followed by the professionals of the global jewellery industry.

IJS: TURKEY’S BEACON OF THE JEWELLERY INDUSTRY

The March 2019 edition of the Istanbul Jewelry Show saw a nine percent increase in the number of international visitors as it hosted 30,741 professionals from 123 countries. The March show also registered a 15 percent increase in the number of European visitors and an eight percent increase in number of visitors from the countries in the Federation of Russia, including Russia itself. These figures are seen as an indicator that this October, too, the global jewellery industry andctrade will show great interest in IJS. The exhibition which, with its new hall layout, will improve visitors’ experience during the event. As has become tradition, will be representing a wide range of product groups and sectors including gold, gold mountings, jewellery, diamonds, coloured gemstones, pearls, watches, silver, silver accessories and silver household items, moulds, window displays, lighting products and packaging materials, jewellery manufacturing machinery, equipment and technologies, safes,

software, gemological laboratories and gemological equiments, logistics and shipping services.

HOSTING THE INTERNATIONAL BUYER DELEGATION!

As usual, the Istanbul Jewelry Show October edition ill be featuring the “International Buyer Delegation Programme” with the goal of increasing jewellery exports, finding new markets and preserving the market share. As part of the programme, a buyers’ delegation of 1,000 professionals of the sector representing Europe, the Middle East, the USA, North Africa and Asian countries will be hosted at the exhibition.

DESIGNER MARKET IS HERE AGAIN, TOO! Organised every year as part of the Istanbul Jewelry Show, at this October edition, the Designer Market will once again bring together master and young jewellery designers on the same platform. Designers will be showcasing their latest designs and signature jewellery products at the Designer Market, which is specially created at the exhibition venue.

OPEN ONLY TO JEWELLERY PROFESSIONALS.

The Istanbul Jewelry Show is organised by Informa Markets, a division of Informa PLC. Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. The firm’s portfolio is comprised of more than 550 international B2B events and brands in markets including healthcare and pharmaceuticals; ınfrastructure; construction and real estate; fashion and apparel; hospitality; food and beverage; and health and nutrition, among others. Informa Markets provides customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibition organiser, the company offers a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year.

Şermin Cengiz

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

GET READY FOR YOUR ISTANBUL JEWELLERY SHOW RENDEZVOUS Mustafa KAMAR

President of The Turkish Jewellery Exporters’ Association

The Turkish Jewellery Exporters' Association is getting ready to welcome jewellery industry professionals from all around the world during IJS in October.

he world’s major players in the international jewellery industry are getting ready to meet at the 49th edition of the İstanbul Jewellery Show which runs from October 10-13. Recognised as one of the five largest shows in the jewellery industry, IJS last year saw a 20-percent increase in international visitor numbers, and welcomed more than 19,000 people from 89 different nationalities. Turkey is getting ready to welcome jewellery industry professionals from all around the world in October. The show’s Organising Committee of the Turkish Jewellery Exporters’ Association (JTR) is about to finalise its preparations and is well aware of the great responsibility on its shoulders with the need to ensure its continued success. Organised with the support of the Ministry of Commerce, JTR’s Organising Committee, is charged with the task of bringing, time and again, invitees to attend the show from all over the world, JTR President Mustafa Kamar said:

Consistent growth

“The Istanbul Jewellery Show continues to grow and it is now one of the five most important shows in the global jewellery sector. In October 2018, our visitor numbers increased by 20 percent and almost half of the 20,000 visitors were from abroad. When we look at the performance of other shows, we can argue that IJS has a great success rate!”

1,000 complimentary buyers

“JTR is working hard to ensure that the shows are very energetic and reflect our export performance. This is why we invite and welcome 1,000 international visitors for free to Istanbul. Due to the agreement we have with Turkish Airlines, we are also offering serious discounts on flights. Our complimentary visitor numbers for the recent March show exceeded 1,500!”

Welcoming every jeweller

“The IJS will welcome jewellery professionals from all over the world between October 10 and 13 to 30,000 square meters of exhibition space housing more than 800 participating companies. Join us at one of the world’s major crossroads for the global jewellery industry and trade in İstanbul!” Kamar concluded.

World Diamond Magazine | Fall 2019

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

RETAIL

ABOUT BRAD HUISKEN

Author, trainer, consultant and speaker Brad Huisken is President of IAS Training. Mr. Huisken has authored a wealth of sales training books. He recently developed his Train the Trainer Course and IAS Training’s Certified Jewellery Sales Professional Program. He also publishes a free weekly newsletter called “Sales Insight.” For more information, contact IAS Training at 1-800-248-7703, info@iastraining.com, www.iastraining.com or fax +1-303-936-9581

MANAGING THROUGH THE HARD TIMES Things are not going well; sales are down, customers have stopped coming in and your salespeople are beginning to doubt themselves. Just as it is the responsibility of any good sales manager to help his sales force when things are going well, it’s even more important for managers to support their staff when times are tough.

e all know that it’s easier to be a coach or manager when things are going well, but it’s not more important. It’s when times are tough that the great sales managers show why they are great. So how do you get things back on track? Some of the answers are the same things you do when things are going well but with a different twist:

Practice: Take the time with each

of your salespeople and practice and/or discuss the areas where they are struggling. This is not about punishment or pointing out weaknesses, it’s about helping your staff get better. If Mark is struggling with his product knowledge, then sit down with him and go over the products. If Stacy is having trouble closing sales, then role play with her.

World Diamond Magazine | Fall 2019

Develop a plan: Practice is great, but it means nothing without a plan for improvement. Come up with a plan with specific details of how you are going to help your team improve as a whole, as well as a plan for how you are going to help everyone improve. Make sure the plan is clear and everyone involved understands their role within the plan.

It’s when times are tough that the great sales managers show why they are great. So how do you get things back on track?

Stay positive: Your staff knows they are struggling, they don’t need constant reminding. Focus on what they do well as you work together to improve. Don’t let your opinion enter into the conversation. You have to manage people based on the statistics. When talking to a member of your sales staff, focus on the actions that are causing the result, not just the result itself. Reach out to your customers: Don’t be shy, reach out to your customers and ask them what special events they may have coming up. Ask them how about birthdays, anniversaries, matching items to what they had previously purchased, etc. No one wants to struggle but it’s going to happen. It’s the nature of the business but if you have a plan and are willing to stay the course, then you and your staff will be achieving your goals again in no time!

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

OPINION

CHANGE: WHY IS IT SO DAMN HARD? By Rami Baron

recently watched a TED talk which talked about the importance of change. In fact, the essence of this talk is that without change, you will kill your business. The speaker used the analogy of the Titanic. How was it, that within three hours half the people on board were killed? The answer was divided into three components, which define a way of thinking that we can all learn from. From the court records and testimonials of those who survived the disaster we

World Diamond Magazine | Fall 2019

know that it was a very calm night, no storms and good visibility. We all know at the top of any ship sits the crow’snest which is maintained 24/7 to look out ahead for impending danger. The problem, there were no binoculars in the crow’s-nest, and so vital time was lost in seeing ahead of the impending disaster. Were there really no binoculars on board? The answer is yes there were, but they were locked in a cupboard and the person who had the key was not on board. Couldn’t someone just break

into the cupboard? of course, but would anyone knowingly damage something on the Titanic? I mean we are talking about the unstoppable, the unbreakable, the untouchable Titanic.

BLINDING OVERCONFIDENCE

The case in point was one of “blinding overconfidence.” The question was posed to one of the lookouts who survived the Titanic’s sinking: “What do you think could have prevented this accident? His answer was: ”If we had had a pair of binoculars, we definitely could have averted the iceberg, as we

would have seen it in time to change course.” How many of our businesses have someone who looks forward? I don’t mean next week or next month, I mean in the next two or three years. Who is looking and paying attention to where the market is going both in terms of threats and in terms of opportunities? A second component that contributed to the Titanic’s sinking was communication. The Titanic had, at that time, the most sophisticated communication systems that existed. In fact, there were many ships in the area that were transmitting to the Titanic warnings of the dangers ahead with icebergs. So why didn’t the Titanic pay attention to these warnings? The court documents showed that the radio operators were extremely busy sending messages on behalf of the first-class passengers. When a nearby ship was trying to send warning messages to the Titanic the court records revealed comments such as: “Shut up I am dealing with messages for first-class passengers.” We all pride ourselves on our customer service, but sometimes you can focus on the wrong thing, and in doing so you could be killing your own business. The third component contributing to the disaster was the person in charge. The captain of the ship was sleeping at the time, however the officer in charge was first officer Murdoch, this man was infamous at averting collisions, and was known to have achieved it more than once. The court transcripts reveal that officer Murdoch was to expose the side of the ship to the iceberg, because this is what worked before. Experts today, admittedly in hindsight, believe that if the ship was to hit the iceberg head-on it would be damaged, but it would not sink. Apparently, the Titanic could withstand damage to four compartments, but in this case five had suffered damage.

DON’T BLAME THE ICEBERG

The lesson we take from here is no matter how much we love our past success, and use those lessons, the reverse can so often be true, “past experience is all the rage until it destroys your business and life along the way”. The interesting thing is that deep down we all want to blame the iceberg. Or in our world it’s the competitors, it’s the Internet, it’s synthetic diamonds, it’s my family members in the business, my business partner, the media, the government. It’s so tempting to blame the iceberg, but icebergs will come and go, again and again. This story was studied time and time again, and in the boardrooms of titans of business, and yet how many Titan’s have fallen, Kodak, Motorola, Toy are Us , Borders and Dick Smith to name but a few.

FACING THE TITANIC SYNDROME

I appreciate that some reading this article will consider themselves Titans of business, but here’s the great news, most of us are more like a speedboat, we can manoeuvre fast, change adapt, and if something doesn’t work, so what, pivot, and try something else. The term Titanic syndrome is defined as a disease where businesses facing disruption create their own downfall through arrogance, and excessive attachment to the past, or an inability to recognise the new and emerging reality. Over the years I have learned several techniques to help me deal with change. First and foremost, I like to go for a bit of a walk to clear the head. I like to go somewhere outside of my business, maybe a coffee shop. I also, always find it helpful to have someone to bounce off ideas. It may be someone from the business or someone that I feel understands some

In September of this year, members of the Young Diamantaires group, a WFDB initiative that was started by Rami Baron several years ago to create a network for young diamond trade professionals, was hosted by De Beers for a visit to the company’s Venetia diamond mine in South Africa. The group not only visited the mine but also met with employees and their families, visiting their communities and getting first hand impressions how diamond mining contributes to these communities’ development and prosperity. Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

OPINION

of the issues in our business. Having someone to act as a sounding board helps us formulate our ideas quickly, trying to write detailed notes is a pain in the butt. Once you have the rough outline of what you want to do in the business, break it down into five or six steps, and you must put a timeline on each of these tasks. Ask yourself “When you will have the answers to these questions? then you can move on to the next task.

GET OUT OF YOUR COMFORT ZONE Why is change so damn hard? Because it means getting out of our comfort zone, it means looking ahead, even when we don’t know what we are looking for. It might mean re-looking

World Diamond Magazine | Fall 2019

at what we do for our customers, recognising that it’s not cost-effective and that it’s a bleed on a business. What if half the goods you carry are not what the market demands, and even though technically speaking you are buying well, you must radically change what you buy because your experience cannot define the future. Having excellent reference points as to where the market is heading is crucial. A trip overseas to your customers that you supply, where you meet them face to face and have a meal, could give you the greatest insight, rather than producing goods that nobody wants. Rome wasn’t conquered in a day and no one said you need to make radical changes… Yet, by creating a culture within your business which does

not shun change or shutdown ideas which failed in the past, it will open up endless possibilities. If you can accept that every business practice and process is open to change, you may have unlocked the key to your survival and success. Trade well!

About Rami Baron Rami Baron is President of the Diamond Dealers Club of Australia. He is a member of the Executive Committee of the World Federation of Diamond Bourses. Baron resides in Sydney.

NEWS

ith members of the jewellery JEWELLERY and gemstone sectors under growing pressure to actively INDUSTRY demonstrate that they are conducting their businesses in a sustainable manner, DISCUSSES including verifying that the items they purchase, process and sell have TECHNOLOGICAL been sourced responsibly, a range of technological solutions are currently developed to help them comply SOLUTIONS FOR being with the due diligence requirements. came under the spotlight during SUSTAINABILITY These a seminar on September 9, 2019, at Vicenzaoro show in Vicenza, Italy, AND RESPONSIBLE the organized by CIBJO and hosted by the SOURCING Italian Exhibition Group (IEG). The seminar was the latest edition in a series of educational programmes organized by the two bodies, which is endorsed by the United Nations Economic and Social Council (ECOSOC), to support Corporate Social Responsibility and sustainability in the jewellery sector. As, Marco Carniello, Director of IEG’s Jewellery and Fashion Division, pointed out, the seminar this September marked the 10th year of cooperation between CIBJO and Italy’s leading jewellery trade show organizer.

A growing percentage of the jewellery, gemstone and precious metals industries have taken steps in recent years to implement sustainable and responsible sourcing principles in their businesses, with more than 1,300 worldwide already certified by compliance organisations, after undergoing monitoring by independent auditors. But in an industry that is dominated by small and medium-sized companies, many participants find it challenging to follow suit and consequently could experience difficulty in gaining access to chains of supply. The technologies discussed at the seminar are largely being developed to address these challenges. The panel of speakers, which was moderated by Erik Jens, vice president of CIBJO’s Responsible Sourcing Commission, represented a cross section of this growing industry service sector, providing solutions to industry participants at all stages of the chain of distribution, from the mine to the retailer.

Erik Jens, Vice President of CIBJO’s Responsible Sourcing Commission and the seminar moderator, presenting the panel (from left): Michillay Brown, Tracr; Assheton Stuart Carter, The Dragonfly Initiative; Daniel Nyfeler; Gübelin Gem Lab; Konstantin Born, GemFair; Francesca Marino, CIBJO; and Mark Hanna, Richline Group.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

COSIMO VINCI For the second time in stretch of a few months,Cosimo Vinci was sitting opposite this reporter again, this time dressed all in black, with his Mustafa Kemal Ataturk printed t-shirt the most eye-catching item of his outfit. After a period of seven months in Turkey, I realised, he was not much different from any other Turkish man – which was evident from the great confidence he exuded ...

Even though when something is worn by everyone at the same time, it may loose its meaning. But I think that is not always true.

And we talked about his coaching of JTR’s (the Turkish Jewellery Exporters’ Association) jewellery designing course and several other topics. by Dilara ÜNAL

How were the classes and dialog between you and your students ?

I am so glad we all had such a productive and joyful time in the classroom! The students were in harmony, learning and working together. Most of them are already professionals. And they took the opportunity to develop some of the techniques they are unfamiliar with. There is no way not to see the progress they have made until the end of the course. Each of them achieved what we set out to do. The synergie between themselves in and outside the classroom had a huge effect on their success. As such, my students and I had a very good time which creates not only a good professional relationship but also friendship. As such, it is clear we will keep in touch!

What are your expectations from your students on their way to becoming a better jewellery designer?

Here, differently from other courses, we based our learning model on an East-West synthesis kind of perspective. And nearly all of them became ready to enter business life but it takes at least ten years of learning processes, even when there really is no end to learning… so we think of planning an advanced training program. Devotion and effort are musthaves of this job. Naturally, our design courses were only a beginning. There is so much to take in and learn. I expect them to discover as much as they possibly can!

In your opinion, is creativity an acquirement or an inborn ability?

It is possible to say that the various abilities we possess are unique mechanisms that operate continuously. It is in our hands whether or not to develop and improve these mechanisms. The more we use our skills, the better we express ourselves. Creativity is a kind of talent that needs to be fed and processing to be exposed.

World Diamond Magazine | Fall 2019

What is dearer to you, keeping up with fashion or originality? Following different trends and concepts makes us a more creative and rich in the soul. We need to find something new all the time. I try to stay in touch with fashion so that it may open new doors. But in a way, we are the one who created the mainstream. Everyone who produces and contributes has a role in this. Before you know it, maybe you will become the one who brings the next idea that becomes fashion…

When we look at the latest trends in the jewellery world, we see spiritualism themed designs at the forefront. Do you think that these designs that we see everywhere all of a sudden is caused a lack creativity?

Difficult question ... Since jewels have become more than just ornaments and accessories, a way to describe oneself, they have become more personal and special items. The fashion of each period varies according to that day’s socio-cultural / economic events. I think today the emotional hunger of people is the main reason why these jewels with spiritual symbols are being trendy now. These symbols correspond to the need in society for meaning and depth. Even though when something is worn by everyone at the same time may lead to lose its meaning, I think that is not true this time. Maybe the more they are everywhere, the better their power

is understood. After all, spiritualism spreads when shared. To take another example, being vegan is a fashion that never gets old. In this case, we can not say someone who has just become a vegan, you have become a vegan because it is fashionable. He became vegan because he embraced and supported the idea behind it. So the underlying meaning and purpose make sense.

You have spent a long time in Istanbul. What do you think about this city? I knew I was going to be an Istanbulite from the first moment I saw this place. And now I am! We spent time one day in a week visiting the city with my students. We went all the places that come to mind. We breathe the air of the Grand Bazaar. Beyoğlu captivated me the most. I guess it wouldn’t be wrong to call there the cradle of culture. As you walk through the narrow streets of Galata, it seems almost impossible that athmosphere would not inspire you!

Finally, what would you advise your graduate students?

I especially recommend my students who want to build a brand, to gain experience by designing for other brands first. The marks they leave on brands not only enrich their portfolios but also push them to form a bigger picture. Joining forces is one of the best things you can do if you are in the beginning of the journey.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

A PERSONAL RECOLLECTION

A VERY HAPPY ANNIVERSARY Richard A. Wake-Walker looks back at the days when he left De Beers and how he consequently established, together with Charles Wyndham, International Diamond Consultants. By Richard A. Wake-Walker

n April 29, 2019, it was twentyfive years ago that I resigned from my job at De Beers. At that time, the De Beers that I left was a very different animal to the mere appendage of Anglo American it is today. De Beers was a genuine monopoly with the mentality to go with it, enjoying control, so they always claimed, over 80 per cent of the rough diamond market. It is doubtful the company’s market share was ever that high, but this is what we were told to say. Today the percentage has fallen to under 40 per cent. De Beers’ management during the late nineties and early noughties, managed to lose producer purchase contracts in Angola, Australia, DR Congo,

Russia and Tanzania. The company consequently ended up retreating to its southern African laager, ever more dependent on its Botswana contract for diamond intake, sales volume and profitability. Rather like quitting the EU, life was made as tricky as possible when I resigned from De Beers. There were threats: “We can make things difficult for you and your family”. Attempted inducements: an envelope was thrust across the lunch table in Simpsons in the Strand of all places by a De Beers director who had told his colleagues: “I know Richard well. I will invite him to lunch and get him back.” The envelope was immediately pushed back whence it came. Sweet talking: “The door

Richard Wake-Walker, centre, leading a De Beers delegation to the Israel Ministry of Trade in 1985

World Diamond Magazine | Fall 2019

is always open if you change your mind”, wrote Nicky Oppenheimer in a personal handwritten letter. “I was bouleversé when you told me....” added then CEO GM Ralfe in a similar, characteristically glib note. He was so bouleversé in fact that I thought he was going to fall off his chair. Financial pressure: “Do you realise you will lose your golden handcuffs?” - I am sure my request that the sum I relinquished should go to charity went unfulfilled. And so on. It was disappointing not to be frogmarched out of headquarters between two burly security men, which is what I always thought was meant to happen. In those days, De Beers was a company you were never meant to leave. You were a lifer. I was not the

Richard Wake-Walker in 1977, when he was General Director of the De Beers office in Kinshasa, then Zaire, showing around a delegation from the Presidentâ&#x20AC;&#x2122;s office.

very first senior executive to jump ship, but my departure was sufficiently newsworthy to make the front page of the Sunday Telegraph business section, The Financial Times and to be the subject of several articles in the Russian and English language Moscow press (where I had been the first general director of the De Beers Russian office). I was astonished at some of the approaches I received, particularly from diamantaires and many an interesting Russian. Demand for independent diamond related skills more than matched my expectations, and I soon realised there was a ready market place for my expertise, especially in Russia. Happily, I had checked my De Beers employment contract with a lawyer before quitting, and he said I could safely ignore the restrictive clauses attempting to prevent me from operating anywhere in the diamond world. As it was, I learnt more about the true diamond business in my first year working in the open market than I had during 18 years within the monopoly. A year later, Charles Wyndham invited me to lunch, telling me that I had

done exactly the right thing and that he too was leaving. I knew Charles well, having worked with him in Zaire and when selling rough in London to the trading and manufacturing markets worldwide. Consequently, WWW International Diamond Consultants (WWW) was born in January 1996. Not long afterwards, we won the groundbreaking valuation contract to be the first Government Valuators for the nascent Canadian diamond production, a position we still hold together with our northern indigenous partners more than twenty years later, with three separate Canadian government contracts. Since we started, 235 million carats worth well over $30 billion dollars have passed through our hands. The Canadians have always been proud that they have been agents for change in the diamond business, citing above all their choice of valuator as being instrumental in helping to transform a moribund and often corrupt international valuation industry. Twenty years ago, the Canadian government was attracted by our independence, and our objective

pricing system based on fair open market prices rather than bogus master samples, easily manipulated for transfer pricing, reduced royalties and overall values for the diamond producer country. Above all, it was our desire to share and transfer knowledge, especially through intensive training courses for our locally employed staff, and government officials. Even then, our former employer put it about that Charles and I were simply â&#x20AC;&#x153;disgruntled ex-employees,â&#x20AC;? whilst some Canadians felt their emerging diamond producing country was being treated like a neo-colonial outpost. Rumours were also spread that our business partnership had broken down, which was certainly never the case. WWW has worked with over 80 companies and organisations since 1996. In the main, these have been geological prospecting companies with diamond samples to value, financial institutions and banks, governments (federal and regional), mining outfits, trade bodies, NGOs, jewellers, and security organisations including the RCMP.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

A PERSONAL RECOLLECTION

We were one of the first companies to establish truly transparent tendering of rough diamond parcels in Antwerp, and the very first to sell loose polished diamonds at tender, achieving record prices in the process. A sister company successfully providing transparent prices of wholesale polished diamonds, polishedprices.com, was set up by Charles 15 years ago and its subsidiary company has recently become the first European commodity benchmark entity to be recognised by Londonâ&#x20AC;&#x2122;s Financial Conduct Authority. There have been disappointments as well as successes. We unilaterally pulled out after one year of a four year contract in the Democratic Republic of Congo when our Congolese partner was held up at gunpoint outside our Kinshasa office by soldiers sent in by the Ministry of Mines. The Ministry had been pressured by local exporters and dealers, because we were applying reasonable market prices at export for duty calculation purposes. Historically, there had always been a culture of deliberate under valuation to benefit the local trade, mining

World Diamond Magazine | Fall 2019

companies and foreign buyers - but not the populace. In our one year of operation, we had increased government export duties year on year by more than 30 per cent based on the same volume of diamonds, simply by applying fair prices. This was in a country where the Minister of Mines at the time personally charged exporters $1,000 for his Kimberley Process authorising signature, with 12-15 shipments of diamond parcels being made each working day. WWW was rejected when applying to be the valuators of two other major African producer nations, because we offered to follow our successful Canadian model of training local nationals to become full members of our team, and over time to transfer all our knowledge to them. The true reasons for being turned down can easily be imagined. I am sure De Beers has altered in the last quarter of a century. The dead wood and rotten eggs have expired or left. The company may not have radically changed its take-it-or-leave-it selling system, but where I personally observe its operations, particularly in

Canada, De Beers has become a much more enlightened and responsible outfit. However, in the recent past, the company has made, and is continuing to make obvious mistakes such as the Supplier of Choice fiasco, the abandonment of generic diamond advertising and its risky Lightbox project. It has been enjoyable watching this rebalancing of the diamond business. In speaking up at conferences, in press and television interviews and articles, in assisting film makers search for the truth, operating in tandem with governments and NGOs when establishing the Kimberley Process system (we have worked as Sworn Experts for the Foreign Office), above all in applying genuine independence to all our activities in an industry which has been so reluctant to change and adjust to fresh realities, WWW has played its part in being a significant force for probity in the diamond world.

GREENLAND RUBY JOINS RJC Greenland Ruby has become the first coloured gemstone miner to join the Responsible Jewellery Council (RJC). The company, with a head office in Nuuk, Greenland, has embarked on the process of becoming certified against RJC’s Code of Practices, which defines responsible, social and environmental business practices for companies in the jewellery supply chain. Once Greenland Ruby has completed a self-assessment, the company’s practices will be audited by an independent, RJC-accredited auditor, who reports the results to RJC. Following a technical review, RJC can issue Greenland Ruby a certification for either one or three years, depending on whether the auditors find significant practices on which the company need to improve. Greenland Ruby will then be re-audited on a regular basis after that.

KATHRYN KIMMEL LEAVES GIA

athryn Kimmel, Senior Vice President and Chief Marketing Officer has retired from the Gemological Institute of America (GIA) after 29 years with the organisation.

RJC helps companies of all sizes, throughout the jewellery supply chain, meet the rising ethical demands of peers, consumers, financial institutions, and civil society. Adoption of and adherence to the RJC’s Code of Practices presents a gateway to sustainable growth for businesses throughout the jewellery supply chain, from mine to retail. “It has been Greenland Ruby’s aim, since it began mining in 2017, to become an RJC member. With the expansion of the material scope to include coloured gems in the RJC’s revised Code of Practices, it now enables us to assess our practices. By achieving RJC certification, Greenland Ruby will confirm our commitment to responsible business practices,” Greenland Ruby Vice President Sales and Marketing Hayley Henning said.

Kimmel played a key role in shaping the Institute’s domestic and international marketing, public relations and communications outreach efforts. She steered the launch of GIA’s digital presence with consumer and trade focused websites designed to offer valuable, dynamic and interactive content. Her most visible achievement was developing the Institute’s ongoing consumer outreach campaign to help consumers understand the 4Cs of diamond quality and the importance of GIA’s independent gem identification and grading reports to trust their purchases. She also bridged the gap between the trade’s need for new talent and the ambition of GIA graduates and other aspiring professionals by founding the GIA Jewelry Career Fair in 1991, which has expanded in the last 28 years to Carlsbad, India, Las Vegas, London and New York. That same year, Kimmel became the co-chair of GIA’s International Gemological Symposium and was the driving force behind six Symposia since, including the most recent one in October 2018 in Carlsbad.

Greenland Ruby’s VP Sales and Marketing Hayley Henning led a U.S. government delegation, including the new U.S. Greenlandic Affairs Officer Sung Choi, to tour its mine in southwest Greenland in May 2019. From left: U.S. Greenlandic Affairs Officer Sung Choi, Hayley Henning and Greenland Ruby geologist Aaju Simonsen at Greenland Ruby’s mine in Aappaluttoq, Greenland.

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

ABOUT BRAD HUISKEN

NEGOTIATIONS: WINNERS

any sales are completed with products being purchased at predetermined prices and any and all add-ons completed at prices in addition to the original sale. These sales generally do not require the finesse of negotiation, merely scan the UPC codes and the computer generates the dollar amount of the sale. Period.

to the payments for it may require considerable debate on both sides. As a salesperson, it is important to use the information available to push for the greatest payment, while the customer is often more concerned with the value per dollar of investment. Keeping a sense of fairness to yourself and satisfaction for your buyer makes reaching those agreements faster and easier.

For some sales, in other industries, negotiations are an integral part of the transaction. For these types of sales, bargaining skills translate directly into income dollars. Finely developed abilities make this component of completing the deal a low-stress venture!

Patience

Solutions

Communication

Many people view the negotiations process as an exercise in finding solutions for price versus value. The goal is to find the perfect balance of price versus value through a sense of fairness and compromise. When the people agree on the worth of an object and its financial implications, that outcome is balanced. At times, discussions of the merits of the object as opposed 74

World Diamond Magazine | Fall 2019

The ability to relax and allow the process to work may take a while. Rushing a negotiation to conclusion upsets the price/value balance and either one of the persons involved in the negotiations ends up feeling dishonored in the transaction. Being open to continued discussion for find that sweet spot of transaction balance, not pushing toward a specific outcome keeps everyone’s options alive. If the communication bogs down, it might be a good time to review the progress that has already been made. Are there objections that have remained unanswered? Are there different options that could

be discussed? Taking a pause to carefully check in with one another can often resolve some unspoken issue so that the process can be concluded to everyone’s satisfaction.

To the plus side

Every effort needs to happen to keep the entire conversation positive and productive. Stubbornness and negativity do nothing except start a reputation (about you and/or your company) for being stubborn or negative. Every time a negotiation looks as if it could go south, take a step back and consider the big picture, then create the Win-Win for you and your customer!

Grow

At the completion of every negotiation, it is helpful to examine the successes and the areas for further development. Give yourself the best opportunity to grow your skills with this component of the sales process through selfexamination, role-playing, and conversations with your sales managers. Whatever it takes, commit to gaining smoothness and calm in the negotiations game!

WORLD DIAMOND MAGAZINE ADVERTISING RATE SHEET

ADVERTISING OPTIONS FULL PAGE RIGHT HAND

$1,500

FULL PAGE LEFT HAND

$1,200

HALF PAGE RIGHT HAND ACROSS

$800

HALF PAGE RIGHT HAND UPRIGHT

$850

HALF PAGE LEFT HAND ACROSS

$700

HALF PAGE RIGHT HAND UPRIGHT

$750

PRICES FOR THE BACK COVER, INSIDE FRONT COVER AND INSIDE BACK COVER WILL PROVIDED UPON REQUEST. CONTACT US:

EIC@WORLD-DIAMOND-MAGAZINE.COM

AD SPECIFICATIONS:

The World Diamond Magazine is the joint quarterly journal supported by the Turkish Jewellery Exportersâ&#x20AC;&#x2122; Association (JTR) and a number of international diamond, gem and jewellery industry and trade partners. Targeted at retail jewellers, it is printed in 10,000 copies, distributed by mail to some six thousand retail jewellers across the globe and handed out at international jewellery trade shows. The World Diamond Magazine is supported with advertising by leading diamond, gem and jewellery suppliers as well as industry service companies such as banks, gem labs, logistics firms and insurers.

FULL PAGE: 20X27 CM + 3MM BLEED

DOUBLE SPREAD: 40X 27 CM + 3MM BLEED HALF ACROSS: 10X27 CM +3MM BLEED HALF UPRIGHT: 20X13.5 CM + 3MM BLEED

Fall 2019 | World Diamond Magazine

WORLD DIAMOND MAGAZINE

8,000+ Diamonds. All Shapes & Sizes For Every Budget!

rdidiamonds.com 76

World Diamond Magazine | Fall 2019

CALL 800.874.8768

585.225.3390