Canadian Jeweller Magazine - March 2012 by Canadian Jeweller Magazine

th e b u s i n e s s of r e t a ili n g j ewe ll e r y s i n c e 1879

MARCH 2012

SCAN ME TO GO TO OUR WEBSITE

CMCA AUDITED

PUBLICATIONS MAIL 40678000 | 60 BLOOR STREET WEST SUITE 1106, TORONTO ON, M4W 3B8 | $25

NEW S! IE SER

THE NEXT GENERATION OF JEWELLERS

Customer

happiness rules SEEING PINK

Ralph Vandenberg, Vandenberg’s Jewellers, Edmonton, Alta.

The new reign of rose gold jewellery

BRIDAL JEWELLERY TRENDS PLUS: ALL THE LATEST NEWS, TRENDS & EVENTS

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24 Gold Group Ltd.

For details, write #101 on Free Info Page, page 112

Gold Dealer & Refining Company

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Sooner or later, the world’s most extraordinary gems will cross paths with

RAHUL KADAKIA. Here, Christie’s Senior VP, Head of Jewelry Americas, shares priceless insight into the jewelry business and the value of an expert education.

A master eye for gems … born or made? Coming from four generations of jewelers undoubtedly piqued my interest in this great business. But one needs to constantly train their eye by looking at gems – the more you learn, the better you will be at identifying and pricing gems, as well as being an effective salesperson and well-rounded businessman.

Something most people don’t know about you. GIA is what brought me to Christie’s. After studying in Santa Monica, I attended a GIA Career Fair where I had my ﬁrst interview with the company.

For details, write #102 on Free Info Page, page 112

Ok. Definitely a story there? I started work when I was 17 and five years into it, I thought I knew pretty much everything there was to know … until I enrolled at GIA. The Institute’s meticulous training and high standards exposed me to a whole new world of expertise. Ultimate sales edge … emotion or expertise? Jewelry is an emotional shopping experience, but expertise plays a decisive role. It’s wonderful to show people a brilliant diamond, but it means more when you can follow up with a skillful explanation of the 4Cs exemplified in that particular gem. Lean economy. Less jewelry? At the nexus of the downturn in late 2008, we sold the Wittelsbach Blue Diamond for $24 million, a world record price back then for any gem ever sold at auction. When you have great gems and jewels, the money makes itself available. Any advice to the up and coming? Don’t lose the passion that brought you to this business, and above all, keep learning every day.

GIA gratefully acknowledges those who, for 80 years, have used our resources to further world expertise in gems. Invest in your success at WWW.GIA.EDU

AGENCY: The Shand Group, Chris Weakley 805 969 1068 x113

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PRODUCTION CONTACT: Melissa Helvey 805 969 1068 x119

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For details, write #103 on Free Info Page, page 112

Behind every “I do,” there’s a great jeweller.

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And behind every great jeweller, there’s Stuller.

From traditional to designer to contemporary, Stuller’s comprehensive band assortment has you covered. Take advantage of our unparalleled selection in metal quality and styling, competitive pricing and easy, overnight delivery. Give your customers exactly what want, every time. For a wealth of ideas and solutions, call our Toronto sales center at 866-815-5511,

For details, write #103 on Free Info Page, page 112

or visit stuller.com. That’s the beauty of it all.

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Made in Canada with Canadian gold

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For details, write #104 on Free Info Page, page 112

27 Queen St, East, Suite 1100, Toronto, Ontario M5C 2M6 T: 416.955.9415 • Toll Free: 800.216.0899 • F: 416.955.9621 www.midasjewelryinc.ca • Email: info@midasjewelryinc.ca

2/28/12 10:52:31 AM

New 19K Extreme White© • Displays • Marketing Kits • Buy-back Programs Incentive Programs • Co-op Advertising

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For details, write #103 on Free Info Page, page 88.

For details, write #104 on Free Info Page, page 112

Whether your needs are simple or elaborate, let Midas be your Source for select Wedding Bands. We specialize in custom orders, small or large, and are positioned to increase your sales margins. At Midas, we manufacture in all precious metals and also offer:

2/28/12 10:52:39 AM

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For details, write #105 on Free Info Page, page 112

ÂŠ 2011 Malo, Inc. Made in Canada.

CMYK

2/24/12 1:22:30 PM

A M O D E R N

For details, write #105 on Free Info Page, page 112

C L A S S I C

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Established 1879 MARCH 2012 • vol. 133, no. 2 Olivier Felicio Editor-in-Chief | olivier@rivegauchemedia.com Lucy Holden Associate Publisher | lucy@rivegauchemedia.com Erin Poredos Sales Assistant | erin@gorgmgo.com Lynne Shuttleworth Associate Editor | lynne@gorgmgo.com Jessica Uniac Beauty & Lifestyle Editorial Specialist | jessica@gorgmgo.com Kelechi Achonu Fashion Editor | kelechi@rivegauchemedia.com Irina Lytchak Editoral Assistant | irina@gorgmgo.com Laurie O’Handley Editoral Intern | intern@gorgmgo.com Scott Jordan Art Director | scott@rivegauchemedia.com Sarah Vincett Graphic Designer Robert Murdoch Production Coordinator | production@rivegauchemedia.com Stacey Rosenblum Art Intern | artintern@gorgmgo.com Melanie Seth Controller & Operations | finance@gorgmgo.com chinese market division C A N A DA’ S #1 J E W E L L E RY M AG A Z I N E

Christine Ni Host | christine@gorgmgo.com Boris Wittgen Camera Operator | boris@gorgmgo.com Carolyn Jin Producer | carolyn@gorgmgo.com

J E W E L L E RY: T H E E X P E R I E N C E O F P E R S O N A L T R A N S F O R M A T I O N & I D E N T I T Y

CONTRIBUTORS A B S O L U T E LY YO U

W I N T E R 2 01 2

Aileen Bennett, Peter Braul, Noam Carver, Dustin Delfs, Nikki Fotheringham, Gord Henning, John Lamont, André Marchand, Sarah O’Connor, Duncan Parker, Lise Petitpas, Deborah Sauvé, Bonnie Siegler

sales Lucy Holden

Associate publisher (416) 203-7900 ext. 6117 email lucy@rivegauchemedia.com tel .

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national accounts & groups sales manager tel . (416) 203-7900 ext. 6134 email shane@gorgmgo.com

Jeff Yamaguchi

ADVERTISING Sales tel . (416) 203-7900 ext. 6122 email jeff@rivegauchemedia.com

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NEIL LANE: JEWELLER TO T H E STA RS PE A R LS: SEX Y & INSPIRED

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Change of Address email: cj@publicationpartners.com telephone: 1-877-547-2246 fax: 905-509-0735 or send your cover label and new address to Canadian Jeweller c/o Publication Partners, 345 Kingston Road, Suite 101, Pickering, ON Canada L1V 1A1 Published by Rive Gauche Media II Inc. Canada Post Canadian Publications Mail Sales Product Agreement No. 40678000. The publisher does not assume any responsibility for the contents of any advertisement and any and all representations or warranties made in such advertising are those of the advertiser and not of the publisher. The publisher is not liable to any advertiser for any misprints in advertising not the fault of the publisher and in such an event the limit of the publisher’s liability shall not exceed the amount of the publisher’s charge for such advertising. No portion of this publication may be reproduced, in all or part, without the express written permission of the publisher. Canadian Jeweller magazine is pleased to review unsolicited submissions for editorial consideration under the following conditions: all material submitted for editorial consideration (photographs, illustrations, written text in electronic or hard copy format) may be used by Canadian Jeweller and their affiliates for editorial purposes in any media (whether printed, electronic, internet, disc, etc.) without the consent of, or the payment of compensation to, the party providing such material. Please direct submissions to the Editor, Canadian. Return undeliverable items to Rive Gauche Media, 60 Bloor Street West, Ste. 1106, Toronto, ON Canada M4W 3B8. s to the editor, canadian. return undeliverable items to rive Gauche Media, 60 bloor street West, ste. 1106, toronto, oN c

CMCA AUDITED Official magazine of JVC

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CJ M A R C H 2 0 1 2 |

www.canadianjeweller.com

2/24/12 10:21:06 AM

For details, write #106 on Free Info Page, page 112

Never before has there been a diamond that appears whiter than its true color. The ten sided Meteor Cut® diamond, developed with ﬂawless symmetry, has 71 well placed facets. Radiating dazzling brilliance and an endless refraction of light, the Meteor Cut® is recognizable at ﬁrst glance. Meteor Cut® - the perfect 10.

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1-877-LILI-USA

www.lilijewelry.com

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[FEATURES]

54 82 MARCH 2012

42. Being picky is good

76. Friendly Takeover

hinking about hiring a social media consultant? T Your success depends on their skill

44. Brilliant in uncertain times Demand for diamonds will ensure the mines, including those in Canada, keep producing

48. What happens in Tucson

The new generation of jewellers is young, ambitious, technologically savvy and respectful of the industry’s heritage

80. Business Tips Polygon members share ideas on hiring and selling

82. A rosy future With the popularity of this precious metal still climbing, retailers say

With the whole city transformed into one giant gem show, it was paradise for gemologists and casual shoppers alike

54. Romancing the Stones

rose gold could be the next big thing

94. Metal Mania High gold prices have led to several spinoffs in the jewellery and refining industries

Vandenberg’s Jewellers’ display cases of beautiful gemstones make customers happy, and that’s the main goal

68. Eternally yours Like marriage itself, traditional wedding jewellery remains popular – with a few new twists

CJ m a r c h 2 0 1 2 |

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www.canadianjeweller.com

SPÉCIAL : CJ en français 64. La Corporation des bijoutiers du québec 66.

l’art de la joaillerie: troisiÈme partie

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BU_CJ_98R156_Layout 1 2/1/12 9:27 AM Page 1

DESIGNED TO BE BRILLIANT Every diamond is set by hand. Every setting is designed to allow for maximum illumination. The Bulova Diamond Collection – there’s no better way to light up a room.

For details, write #107 on Free Info Page, page 112

FAIRLAWN COLLECTION

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www.bulova.com

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98 60

[DEPARTMENTS] MARCH 2012 16.

Letter from the editor

18.

Product profiles

26.

star watch

28. Who’s news

www.facebook.com/CJMag

90. Removing temptation Setting up the right policies and procedures can help you prevent losses from employee theft

98. The perfect match Malo Creations uses technology to market “modern classic” wedding bands

30. CJ Photos 32. For the record

102. Showcase/marketplace

38.

112. Fax back

the cj interview

60. versace watch art

www.twitter.com/CJMag

114.

Last word

Versace designer Giorgio Galli has a passion for designing detailed and beautiful watches

CJ m a r c h 2 0 1 2 |

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www.canadianjeweller.com

2/24/12 1:50:34 PM

For details, write #108 on Free Info Page, page 112 CJMAR2012_8282_E.R.L._Diamonds_FP.indd 15

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letterfromtheeditor

Fresh thinking With spring almost here, it’s the beginning of the wedding season, and so in this issue we take a look at bridal jewellery—what’s popular, what’s changing and what’s staying the same. We’re also excited to launch a new series about the next generation of jewellers in Canada. So many of you are second and third generation jewellers, and we’d like to salute your efforts to stay with the industry, shaping it with your fresh ideas and boundless enthusiasm. The next few years will be a thrilling time for everyone involved in the jewellery industry. I also feel that it’s very important for our industry to conduct a yearly survey so that we as a group have a better understanding of the state of the Canadian jewellery industry. For many years, our industry has been excluded and we’ve had to rely on European and U.S. statistics. The past two years during the recession have been a time when the world recognized that our market reflects our cultural differences. The Canadian Jeweller survey is conducted throughout the year, and all participant information is kept confidential; we will only publish the final results as an industry overview. Thank you in advance for participating.

Olivier Felicio Publisher/Editor-in-Chief

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WWW.CANADIANJEWELLER.COM

2/28/12 11:32:02 AM

Bijouterie / Je wellery

Specializing in:

For details, write #109 on Free Info Page, page 112

Two-Tone or Plain, Comfort Fit or Regular Wedding Bands in 10K, 14K, 18K, and Platinum. Reverse colours available on all rings.

Catalogue available on request. Almost 100 new models added.

Head Office: 1117 Ste-Catherine O., Suite 418, Montreal, Quebec H3B 1H9 Tel: (514) 845-0066 • Fax: (514) 845-3697 • Toll Free: 1 888 465-0065 • info@legajeweller.com Quebec, contact Marcel Dumontet Tel: (514) 865-7235

Proudly Canadian

Manitoba, contact Rube Helman Toll Free: 1 800 665-3314

Ontario, Alberta, British Columbia contact Vahan Mele, Marcel Dumontet Tel: (647) 284-5067 (514) 865-7235

Visit our website for more selections: www.legajeweller.com

GUARANTEED PROMPT SERVICE • GUARANTEED PROMPT SERVICE • GUARANTEED PROMPT SERVICE • GUARANTEED PROMPT SERVICE

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productprofiles

3 1

1. ETHAN STARS Make a bold attractive statement with this beautiful ring from Ethan Stars

4. GIA REPORTS AND GRADING SYSTEMS

in rhodium plated sterling silver set with cubic zirconias. This is one of the

GIA offers a suite of support tools designed to assist retailers in

top 10 sellers in our ring line. For more information, write 140 on the Free Info

communicating the 4Cs: the International Diamond Grading System and

Card on page 112.

the value of GIA Diamond Grading Reports. A report from GIA provides an expert analysis of the quality of a diamond based upon the “4Cs” of

2. READY MOUNTS

diamond grading — colour, cut, clarity, and carat weight. The report also

At Ready Mounts we are focusing on offering a variety of products and services

includes a plotting diagram, which depicts the diamond’s unique clarity

to help save you time and money. We offer full CAD services, including milling

characteristics, such as inclusions. In addition, since GIA is not affiliated

and growing of waxes. Also currently stocking bracelet mounts in classic

with any commercial enterprise, the public is assured the world’s most

styles, as well as ring mounts, semi-mounts and finished goods. For more

impartial and accurate analysis of a diamond. For more information, write

information, write 141 on the Free Info Card on page 112.

143 on the Free Info Card on page 112.

3. MALO

5. KAMELEON JEWELRY

Today, we, the third generation of MALO jewelers, continue our family tradition

Just when you thought Kameleon couldn’t get any more fun! These new

of embracing quality and beauty in every step of the creation of our products.

Enamel Flower Pendants will appeal to the consumer’s fun and flirty side.

In platinum or in yellow, white or pink gold, with diamonds or without, in any

Each pendant is hand crafted in eye catching colours and is sold with a

number of fabulous finishes; your client’s dreams come true with MALO. For

matching silk cord. Available in Purple, Black, Red, White, Pink and Blue. For

more information, write 142 on the Free Info Card on page 112.

more information, write 144 on the Free Info Card on page 112.

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WWW.CANADIANJEWELLER.COM

2/24/12 1:46:40 PM

Best Bargains

CELEBRATING

YEARS

IN THE SHOW BUSINESS

Package 705: 10/14kt. Gold assorted Gemstone Pendants, set with Peridot, Blue Topaz, Garnet, Moonstone, Citrine, Amethyst, Iolite, etc (total wt. app. 6.0cts).

Package 706: 10kt. white Gold 3mm Earrings, set with all 12 month genuine gems.

Package 758: 10kt. Gold lever-back Earrings,

set with 6x4 Gemstones: a. Blue Topaz, b. Garnet, c. Citrine, d. Ruby, e. Emerald & f. Sapphire. b.

Package 779: 14kt. Gold Earrings & Pendant set, with 42 diamonds & 6x4 gemstones: a. Ruby, b. Emerald, c. Sapphire.

All 6 pairs for $90 (Your choice: $22.50/pr.)

Package 800: 14kt. Gold Rings, set with 9

Package 812: 10kt. Y/W Gold Bracelets

Gemstones (5x3), approx. 3.5-4cts of stones: a. Ruby, b. Sapphire, c. Tanzanite, d. Emerald

accented by 2 Dia. & 10 Gemstones (5x3mm): a. Ruby, b. Tanzanite, c. Emerald, d. Sapphire

Earrings,Set with a. Amethyst, b. Aquamarine, c & d. Garnet, e. Peridot & f. Sapphire.

All 6 pairs for $72 (as low as $12/pr.)

Package 720: 10kt. Gold 5mm Gemstone

Cultured Pearl Earrings.

All 12 pairs for $108 (as low as $9/pr.)

All 8 Pendants for $72 (as low as $9/ea.)

Package 716: 14kt. Gold Genuine Freshwater &

c. d. d.

(also available in Alexandrite & other gemstones)

Package 891: 10kt. Gold Rings, set with genuine Gemstone & 2 Diamonds: a. Sapphire, b. Emerald, c. Ruby, d. Citrine, e. Garnet f. Opal

For details, write #110 on Free Info Page, page 112

Package 896: 14kt. Gold genuine Ammolite & Diamond Earrings: a. Long Ammolite with 0.14cts of diamonds $300/pr. b. Filigree ammolite (8x6) with 4 diamonds $250/pr. a.

Package 898: 14kt. Gold genuine Mystic Topaz Earrings (available in white/yellow gold) a. 11cts, b. 8cts, c. 12cts

Package 900: 14kt gold Ruby and Emerald Cherry Design Earrings and Pendant. Available in Yellow and White Gold.

Your choice of any Bracelet $150 (available in other stones)

(also available in other gemstones)

All 4 Rings for $1200 (Your choice $350/ea.)

Your choice of any set: $300

All 6 pairs for $216 (Your choice: $45/pr.)

c. f.

All 6 Rings for $540 (Your Choice $100/ea.)

Matching pendants available.

(also available in other gemstones)

Please Visit us at the following Shows 2012

SHOW

DATE

1. Tucson

Jan 31-Feb 5/12

BOOTH #309

Tucson Convention Center

2. Bangkok

Feb 9-13/12

E20

Impact Challenger

3. Miami

Mar 31-April2/12

TBA

Miami Beach Convention Center

4.Las Vegas

May 31-Jun 4/12

TBA

AGTA , Mandalay Bay Convention

5. New York

Jul 29-31/12

TBA

Jacob Javits Convention Center

6. Toronto

Aug 12-14/12

#608

JCK, Metro Toronto Convention Centre - South Hall

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VENUE

All 3 Earrings for $400 (Your choice $150/pr.)

Earrings

$140/pr.

Pendant

$75/pc.

YOUR SATISFACTION IS GUARANTEED Offer is valid while quantities last. ORDER NOW! Please order by package NOâ&#x20AC;&#x2122;S. Please Add $20.00 for S&H, OR $50.00/ 1lb. FEDEX.

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21 Dundas SQ., Suite 306 Toronto, ON M5B 1B7 CANADA Tel: 416-214-2582 Fax: 416-214-4626

For more Products visit our website at

www.bbjw.com info@bbjw.com 1-800-661-4871

2/24/12 1:35:23 PM

productprofiles

1. Rose Gold from Stuller Regaining popularity in recent trends, rose gold’s brilliant color brings a sense of warmth and richness to the fashion scene. This soft hue creates a unique elegance that portrays a chic, feminine style. Stuller’s rose gold jewellery best

4. NOVA DIAMONDS

highlights gemstones such as Morganite, Amethyst, and Pink Sapphire. For

“Shamba-what?” That is the general reaction to Nova Diamonds stunning new

more information, write 145 on the Free Info Card on page 112.

bangle collection. These intricate styles blow away the competition, and every millimeter has been designed with a purpose. From left to right respectively,

2. Rembrandt Charms

DBN8-276 features 2.91 carats of diamonds and 5 stunning south sea pearls

Rembrandt Charms offers displays specifically designed to maximize your

measuring 12mm each set in 18K white gold. DBN8-275 consists of 3 south

charm sales. With a low cost of entry, you will gain access to marketing

sea pearls with a total of 5.80 carats of diamonds set in 18K rose gold. DBN8-

programs that direct loyal, repeat charm collectors to your store. A variety of

270 features 11.49 carats of diamonds set in 18K yellow gold. For more

elegant displays are available: wall panels, freestanding towers and countertop

information, write 148 on the Free Info Card on page 112.

displays. For more information, write 146 on the Free Info Card on page 112. 5. Best Bargains 3. Jewelers Mutual; Perfect Circle

Have a slice! - A diamond slice that is. This 14kt gold diamond necklace is

A successful jewelry business depends on building strong, long-lasting

a welcome addition to any jewellery collection. The alternating white sliced

customer relationships. We understand this like no other insurance company,

diamonds (1.3cts) and the black rose cut diamonds (over 3cts) adds both a

because jewelry insurance is all we do. Jewelers Mutual is proud to introduce

textural and colour contrast to this piece. Adding subtlety and sharpness to

Perfect Circle personal jewelry insurance, our industry-leading insurance for

any wardrobe and making it wearable with many different styles of clothing

your customers, now with a new name and new look. For more information,

and in both warm and cold weather. For more information, write 149 on the

write 147 on the Free Info Card on page 112.

Free Info Card on page 112.

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www.canadianjeweller.com

2/24/12 1:47:20 PM

Rembrandt Charms Serving the Retail Jeweler for over 40 Years.

Show Silver. Sell Gold. • Traditional sterling silver charms have never been hotter! • Use sterling silver as samples for special order karat gold charms. • Sterling charms offer great price points and bring repeat charm collectors.

For details, write #111 on Free Info Page, page 112

All charms available in Sterling Silver, Gold Plate, 10k Yellow, 14k Yellow & 14k White Gold. Stephen Cooper Sales Manager Ontario 416.293.3495 Trevor Johns British Columbia 604.535.4657

CJMAR2012_9602_Rembrant_FP.indd 21

Marjorie Blumfald British Columbia 250.248.8429

.com

Call 416.293.3495 or contact us via email or fax for free information on: • Business building charm programs • DVD on cultivating customers • Retailer marketing support • Free consult on website enhancement Nuco Products 11 Progress Ave., Unit 17 • Scarborough, ON M1P 4S7 416.293.3495 • 800.387.5238 • 24/7 fax 416.293.1227 orders@rembrandtcharms.ca

2/24/12 1:51:28 PM

productprofiles

3 4

1. HONG KONG JEWELLERY & GEM FAIR

3. imperial color diamonds

The June and September editions of the show serve as a comprehensive

Imperial Color Diamonds provides an impressive selection of fine jewellery

platform to advocate the jewellery trade every year. A strong track record of

from one of a kind pink diamond rings to amazing graduated yellow diamond

excellence has made both events a prominent fixture in the global jewellery

necklaces. We are proud to offer an extensive collection of fine loose natural

trade’s events calendar. Save the date and plan your visit now! For more

fancy color diamonds (all certified G.I.A) Our high volume allows us to be

information, write 150 on the Free Info Card on page 112.

competitive and provide the lowest prices possible For more information, write 152 on the Free Info Card on page 112.

2. Introducing KIM’s Eleganza™ Two-Tone Collection Kim International’s Eleganza™ Collection is beautifully crafted of 18kt

4. lili jewelry

gold and sterling silver and features genuine stones. Eleganza™ combines

Never before has there been a diamond that appears whiter than its true

modern elegance with old world craftsmanship and is very affordable with

color. The ten sided Meteor Cut® diamond, developed with flawless

most pieces retail priced $199-$599. For more information, write 151 on the

symmetry, has 71 well placed facets. Radiating dazzling brilliance and an

Free Info Card on page 112.

endless refraction of light, the Meteor Cut® is recognizable at first glance. Meteor Cut® - the perfect 10. For more information, write 153 on the Free Info Card on page 112.

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www.canadianjeweller.com

2/24/12 1:48:51 PM

For details, write #112 on Free Info Page, page 112 CJ_ad.indd 6

27 Queen Street East. Suite 1402 Toronto, ON M5C 2M6 Tel: (647) 345-5401 | Fax: (647) 345-5362 E-Mail: info@fantasticjewellerycanada.com www.fantasticjewellerycanada.com

3/1/12 4:38:04 PM

productprofiles

1. western canadian jewellery expo

3. ELLE JEWELRY COLLECTION

SHAW CONFERENCE CENTRE EDMONTON ALBERTA , August 17-19 2012

Express your love to that special individual with ELLE Jewelry’s own “Enrap-

The WCJE is proud to announce the launch of the Design Centre for the

ture” Collection. This collection features hearts interlocked creating a bond to

2012 show. Leading artisans of the craft, those who specialise in creative

represent the strength of one’s love. This collection includes matching brace-

expression through their work - those who bind metal with emotion, will be

lets and earrings, each piece adorned with a beautiful red ruby. For more

on hand to showcase their products and talents. For more information on

information, write 156 on the Free Info Card on page 112.

our Design Centre, and how you can become a part of this fabulous industry event, contact Lilie Ford at lford_wcjexpo@bell.net www.wcjexpo.com. For

4. Introducing the Ashley Anne Collection from Midas Jewelry

more information, write 154 on the Free Info Card on page 112.

We now offer engagement rings and matching bands in addition to our vast selection of wedding rings. This collection of bridal sets will please even

2. How fast can your customers find you online?

the most discerning bride-to-be. Each set is exclusively designed to fit the

Successful retailers know the importance of an online presence, and offering a

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Award show glitz Diablo Cody sparkled at the Critics’ Choice Awards, choosing M.C.L. by Matthew Campbell Laurenza Silhouette dangling earrings in multi-coloured pave sapphire ($1,000) and the designer’s assortment of white enamel and multi-coloured pave sapphire bangles ($1,000 - $2,000). She also chose KumKum’s Paradise moon ring in rainbow moonstone and zircon ($599).

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who’snews

PEOPLE MAKING HEADLINES IN THE JEWELLERY INDUSTRY JA’s Matt Runci to Retire

Sten Dauga

ard

President and Chief Executive Officer of Jewelers of America, Matt Runci, has announced his plan to retire. Runci, who has held the position for 17 years, informed JA’s Executive Committee of his decision in early January. Runci will temporarily remain for a transitional period to assist JA’s work concerning responsible business practices in 2013. A search committee will gather shortly to find a replacement. Runci’s retirement will be effective December 31, 2012.

New Chief Development Officer at Pandora Sten Daugaard has been named the new Chief Development Officer and Executive Board member of Pandora jewellery manufacturer and retailer. Daugaard, earlier a member of Pandora’s board of directors, will be responsible for the company’s corporate strategy and development - a program initiated by the board this past summer. Prior to joining Pandora, Daugaard held many leadership roles, including Chief Financial Officer of SGL Carbon, CEO of LTU Group Holding and, most recently, Chief Financial Officer of The Lego Group.

Zale names new SVP Jewellery retailer The Zale Corporation has appointed Ken Brumfield as Senior Vice President of financial products. Reporting to Matt Appel, Zale’s Chief Administrative Officer, Brumfield will be responsible for customer financing, insurance, warranty and product repair offerings. Brumfield, who joined Zale in September 2010, has more than 25 years of experience in financial services. He previously worked as director of sales at Alliance Data Systems and SVP of credit services at U.S. department store Stage Stores Inc.

“[Dundon] has a wealth of knowledge and experience at developing aspirational British brands in the North American market and will be a great asset in leading both the Links of London and Folli Follie brands into the next stage of their growth and development.”

New hires join Embix Two new representatives, Denis Mulock and Kevin Land, have joined Montreal-based Embix Watch Co. Both Mulock and Land will be responsible for covering the Ontario region and representing luxury brand names such as Roberto Cavalli, STORM London and Continental Geneve to name a few. Additionally, Mulock and Land will increase the Private label and Incentive program division of the company. Embix strives to create a more personalized approach between store and distributor, and believes Mulock and Land’s skillful experience will build personal contact and increase retailer satisfaction. [CJ]

Creed Canada appoints new sales rep In early February, wholesale Jeweller Creed Canada welcomed a new sales rep to their team. Lanny R. Sloshower will be serving accounts across Saskatchewan, Manitoba and northwestern Ontario. Sloshower, who has previous industry experience serving both jewellery and gift retailers, will represent watch and jewellery brands such as Bijoux La Scala, Creed Rosary, Rachel, Nina Ricci, La Manufacture and Fontenay jewellery. Creed Canada believes Sloshower will be an asset in improving customer service by visiting new and existing accounts during the year.

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Folli Follie Group appoints new president Folli Follie Group, an international representative of various leading fashion brands, has announced that Robert Dundon took over as president of the Group, and is overseeing its two major brands, Links of London and Folli Follie. Dundon has most recently served as senior director of sales at Fossil Inc. and also held positions with Paul Smith as general manager, and at Thomas Pink as president. David Riddiford, CEO of Links of London and Folli Follie in the UK and North America, has welcomed Dundon saying,

Rober t Dundon

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Mode Accessories Show Toronto â&#x20AC;&#x201C; Sunday, January 29, 2012 to Tuesday, January 31, 2012 1

1. Irina Lytchak (CJ Editorial Assistant) and Maja Bremer (Creative Director & Designer at Myka Designs Inc.) 2. (left to right) Karen Ferguson (Operations Manager), Sylvia Miani (GTA Sales Rep.), Leah Moroz (Eastern & Northern Ontario Sales Rep.) all from Merx Inc. with Shane Stefurak (CJ National Accounts & Groups Sales Manager) 3. Mary Milan (VP Sales & Marketing of Paj/ Elle) with Irina Lytchak 4. Emily Auyeung (General Manager & Award Winning Designer of L.J. & Diamonds) with Shane Stefurak and Irina Lytchak 5. Yolanta Stasiak (Designer of Yolanta Collection) with Shane Stefurak CJ m a r c h 2 0 1 2 |

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news | trends | events LVMH revenue increases Leading luxury retailer Moët Hennessy–Louis Vuitton (LVMH) reported a reach of 23.7 billion Euros (over $31 billion) in revenue – a 16 per cent increase from 20.3 billion Euros in 2010. According to Bernard Arnault, chairman and CEO of LVMH, this increase is greatly attributed to the company’s agreement with luxury retailer Bulgari. In 2011, LVMH became the majority shareholder of Bulgari jeweller, a deal approved by LVMH’s board of directors.

The story of La Peregrina An exclusive story regarding La Peregrina, considered the most important natural pearl in the world, is now available on the Roskin Gem News Report. The pearl generated quite a stir this past December when it sold for almost $12 million at Christie’s in New York – it was only anticipated to generate $2-3 million. La Peregrina is most currently known to have belonged to the late, great Elizabeth Taylor. New speculations and stories concerning Liz and her pearl have surfaced over the years, generating this exclusive feature story.

TAG Heuer opens second flagship store Swiss watchmaker TAG Heuer has announced the opening of its second North American flagship store in Aventura, Florida, situated in the Aventura Mall. TAG’s distinguished legacy is captured in its 800-square-foot boutique designed by award-winning architect Eric Carlson. Carlson’s design, described as a “lifestyle lounge,” aesthetically incorporates chic style and elegant interior design to create a gallery-like experience. The boutique’s eye-level displays showcase TAG Heuer accessories that range from watches and cuffl inks to eyewear and mobile phones.

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Profits escalate for De Beers

Gem Manufacturing received record criminal penalty Gem Manufacturing, a Virgin Islands-based jewellery company, received a record criminal penalty of approximately $4.5 million for illegally trading and importing protected black coral. Earlier this summer, Gem Manufacturing pled guilty to seven counts of violations of the Endangered Species Act and Lacey Act for trading falsely labelled wildlife intended for business. Based on the plea documents, the coral was supplied by a company in Taiwan called Peng Chia Enterprise Co. According to the Department of Justice, this is the biggest fine in history for illegal coral trade.

Acclaimed diamond company De Beers reported a 26 per cent increase of total sales, roughly $7.3 billion, for 2011. Although 2011 experienced lower levels of global diamond production, consumer demand continued to soar. Sales by the Diamond Trading Company (DTC), the rough diamond sales and distribution unit of the De Beers Group, also rose about 27 per cent to $6.5 billion. The company additionally collected revenue from De Beers Diamond Jewellers, a retail co-venture with LVMH. Despite fluctuating markets and economic uncertainty, De Beers anticipates a steady market in global jewellery sales.

2011 showed hike in diamond prices Rapaport has issued a price report revealing that the price of certified polished diamonds has increased by 19 per cent, reaching 96.96 towards the end of 2011 as a result of their strong demand in the fi rst half of the year. Since Jan. 1, 2012, silver prices showed relative stability due to a mildly successful holiday season in the U.S. yet industry officials are slightly concerned whether current price levels will remain neutral.

WWW.CANADIANJEWELLER.COM

2/24/12 3:10:18 PM

fortherecord

18K white gold and diamond ring auctioned at Sotheby’s

18K white gold and fancy orangy pink diamond pendant necklace auctioned at Sotheby’s

$10.3 million raised at Sotheby’s auction Sotheby’s, the world’s oldest auction house, pulled in an incredible $10.3 million at its New York Important Jewels auction, making this the highest total raised for a February auction. Leading the event was a stunning heart-shaped pink and orange diamond pendant necklace that auctioned for an astounding $632,500. Other highlights included a 17.73-carat cushion-shaped diamond ring, which brought in $446,500, and a 7.22-carat emerald-cut diamond ring that raised an impressive $363,500.

Corona Jewellery Company Ltd. certified by RJC

counterfeit jewellery at the Gem & Lapidary Wholesalers show in Tucson, Arizona. After receiving an anonymous tip, special agents quickly seized more than 2,500 pieces of fraudulent merchandise. According to a news release from U.S. Immigration and Customs Enforcement, the counterfeit pieces included imitations of luxury brand names such as Gucci, Chanel, Coach, Hermès and Tiffany & Co. The two suspects are faced with numerous charges, including counterfeiting, fraud, money laundering and illegal enterprise.

of the world’s most sustainable companies. The rankings from The Global 100 Most Sustainable Companies are based on a firm’s diversity, capacity to innovate and productivity concerning environmental factors. Umicore, which focuses on the refining and recycling of precious metals, was also recently included in the Green Index launched by WWF, the Living Planet Fund Management Company and Chevreux. The Index catalogues 50 European companies providing eco-friendly solutions. Umicore aims to continue improving its environmental and social performance.

Rare book collection at GIA museum

Canadian jewellery manufacturer Corona Jewellery Company Ltd. has achieved certification from The Responsible Jewellery Council. In mid-January, RJC announced the certification of 11 members, including Corona Jewellery Company, for meeting the highest ethical, social, environmental and human rights standards determined by RJC’s Member Certification System. The assessment was carried out by Michael Armstrong of KPMG Performance Registrar, an independent third-party auditing firm recognized by RJC’s Member Certification System.

The Gemological Institute of America Museum is showcasing its latest exhibit, Tablet to Tablet: Treasured Pages from Past to Present. Visitors to the GIA Museum in Carlsbad, California, have the opportunity to see more than 26,000 pages from a collection of rare books on minerals, gems and natural science. Some of the displayed works even date back to the 15th century, including a 1496 edition of Pliny’s Natural History. Highlights also include the extraordinary documentation of the Romanov jewels and regalia. This one-of-a-kind collection is open to the public until early summer 2012.

Counterfeit jewellery seized

Umicore in top 10

In early February, two men were arrested for selling an estimated $1 million worth of

For a second consecutive time, Belgian-based Umicore has been included in the top 10

Royal Asscher and CoutureLab team up The renowned Royal Asscher Diamond Company and online gift site CoutureLab have partnered in support of the Seven Bar Foundation. Royal Asscher announced the debut of jewellery from its “Stars of Africa” and “Shining Stars” collection on CoutureLab – a luxury gift website that sells distinguished, quality pieces worldwide. A social enterprise based out of New York, the Seven Bar Foundation promotes the empowerment of women through microfinance. This non-profit organization enables underprivileged women to create and grow their own small businesses. With each piece sold, 20 per cent of Royal Asscher’s retail profit sales on CoutureLab will benefit the Seven Bar Foundation and help support their cause. www.canadianjeweller.com

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| march 2012

2/23/12 4:55:36 PM

fortherecord World’s largest emerald fails to attract bid The 57,000-carat emerald placed for sale at the Western Star Auctions in Kelowna, B.C. failed to attract any bids. Shortly before the auction, controversy stirred when Regan Reaney, the dealer who put the emerald up for auction, was arrested for multiple fraud offences out of Hamilton, Ont. A news release by the Kelowna RCMP confi rmed that they executed outstanding warrants for Reaney’s arrest. Despite these fi ndings, the auction went on as planned. Although anticipated to be a profitable spectacle, the large gem valued at $1.15 million did not sell. It is unclear whether the auction house will put the stone up for sale again.

Increase in Swiss watch exports According to the Federation of the Swiss Watch Industry, exports on Swiss timepieces amounted to more than 19 billion francs (over $20 billion) in 2011 – an impressive increase of

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19.2 per cent from the previous year. Although the Swiss franc held a strong market position, placing a strain on margins and selling prices, the industry experienced a steady demand from global markets, particularly those less affected by fluctuations in exchange rates. On the whole, roughly 29.9 million timepieces were exported from Switzerland, resulting in the highest number of watch exports since 1999. The Swiss watch industry anticipates continued growth for 2012.

Sarin’s diamond assay service Earlier this year, leading soft ware company Sarin Technologies Ltd. launched a diamond assay service. Th is Web-based subscription service conveniently enables wholesalers, retailers and dealers to measure the proportions and cut grade of a diamond, estimate potential value and evaluate stones for re-cutting. Th is resource also has built-in AGS-PGS grading soft ware, which enables users to instantly create

an AGS ASET image of any round or princesscut diamond. Users may subscribe to Sarin’s diamond assay service for the cost of $1,500.

Pandora ranks high According to a luxury tracking study conducted by Unity Marketing, Pandora is ranked as the second most popular brand among luxury jewellery buyers. Pandora fell second only to Tiffiany & Co., ranking above other acclaimed luxury jewellery brands such as Bulgari and David Yurman. Unity Marketing’s founder and president Pam Danziger suggests Pandora’s popularity is supported by its design-yourown jewellery approach, allowing customers to be part of the experience; after all, customer “experience” is highly valued. Unity Marketing surveyed more than 1,200 luxury jewellery consumers with an average income just shy of $300,000. Danziger believes the results reveal Pandora’s products appeal even to the most affluent.

NASCAR drivers sporting jewellery collection At a private photo shoot earlier this year, acclaimed NASCAR drivers and twin sisters Angela and Amber Cope flaunted Di Modolo’s latest Triadra ARGENTO collections. Th is newest collection, crafted in sterling silver, is offered in polished and rhodium fi nishes, completed with onyx, pearls, diamonds and beautiful coloured gemstones. Sisters Angela and Amber also featured Di Modolo’s “Medallion Collection.” Di Modolo’s distinct designs are available nationwide, most notably at Bloomingdales and Birks & Mayors retailers.

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2/23/12 4:56:25 PM

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fortherecord

Breitling (re)introduces The Chronomat GMT

Maximum smiles for contest winner

Luxury watch brand and manufacturer, Breitling, is introducing the “Traveler’s Chronograph” in a new size suited for all wrist types. The 2012 Chronomat GMT now comes in a slightly smaller version - 44 mm diameter - and offers a rotating bezel that displays a third 24-hour time zone reading. This elegant timepiece contains 47 jewels and has a power reserve that lasts more than 70 hours. Travellers are conveniently able to maintain a 24-hour home time display, with a second time zone display on the dial and a third time zone on the bezel. The Breitling Caliber 04 is chronometer certified by the COSC, and ensures user friendliness.

Contest winner, Joscelyn Longo, was all smiles as she slipped the grand prize $7,500 Maximum Brilliance Canadian Diamond ring by Shelly Purdy onto her finger. Robert Cheszes, the president of Maximum Brilliance Canadian Diamonds, along with director Shrenik Haji, led the champagne toast January 12 at Shelly Purdy Studio. The Toronto winner is one of more than 4,000 contestants who entered the Facebook contest created to showcase “the Royals” collection inspired by the wedding of Prince William to Kate Middleton. Purdy’s “Royal Marquis” diamond ring ranked finalist in The Excellence in Designs Awards in November 2011.

HBC acquires Lord & Taylor Canadian retailer Hudson’s Bay Company recently announced its acquisition of U.S. department store Lord & Taylor Holdings. HBC and Lord & Taylor had previously been side-by-side affiliate entities. With the new acquisition, HBC will now operate both The Bay and Lord & Taylor retailers across North America. Bonnie Brooks, President and CEO of The Bay, will become President of the Hudson’s Bay Company under the new agreement. Brendan Hoffman, President and CEO of Lord & Taylor, will be leaving the company to pursue other opportunities. As part of the acquisition, HBC invested $427 million in Lord & Taylor, largely used to reduce corporate debt.

Cavalieri bestowed prestigious award

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Earlier this month, Gaetano Cavalieri, president of CIBJO (or the World Jewellery Confederation) received the Award of the Order of Carl Faberge. The ceremony, held in St. Petersburg, took place during the opening of the International Jewellery Forum, JUNWEX Petersburg 2012. The award was presented by the King-of-Arms of the Carl Faberge Memorial Foundation, Valentine Skurlov. Dr. Cavalieri was recognized for his contribution to the preservation and maintenance of jewellery art and his role in the development of the jewellery industry; he has now become the 38th person to be named an Order of Carl Faberge laureate. This Order is the initiative of Tatyana Fedorovna Faberge, great granddaughter of the legendary jeweller. [CJ]

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cjinterview

Bright Stars

Canadian Ice™ diamonds are a big hit at Goldsmiths of London, U.K., says its CEO, Justin Stead

anada is the upstart of the diamond world, now boasting the number three spot in the hierarchy of global diamond producers, according to the Canadian Jewellery Association. Our diamonds are big news these days, and getting bigger. Among the top players in the global diamond market is Canadian Ice diamonds, “the coolest diamonds on earth.” They’re so cool that now Goldsmiths, the venerable jewellery company based in London, U.K. is selling them—and they’re doing well. Canadian Jeweller checked in with Justin Stead, the CEO of Aurum, which owns Goldsmiths, to get some background on how Canadian Ice diamonds came to be Goldsmiths’ flagship diamond brand. Unmissable opportunity “In February 2011, Steve [Reale, senior vicepresident for worldwide sales and marketing] from JSN called and said ‘we have something to show you,’” Stead recalls. “Steve came to our London Oxford Street office and presented the Canadian Ice story for an hour, and showed me the product and the marketing plan. I said ‘this is awesome. It’s a big opportunity and we’re going to get behind it on a significant basis. This will work for us.” And the diamonds from the great white north have indeed been working. Launched in September 2011, Canadian Ice diamonds have been taking the U.K. by storm. “They’ve been well received,” Stead reports. “Our initial projections were exceeded— doubled—over the Christmas period. It’s been a very quick retail achievement.” The launch event was suitably splashy, with celebrities and press in attendance. “It was a fantastic evening,” says Stead. To add even more glamour to the brand, Natalie Glebova, a Canadian who won the Miss Universe contest in 2005, is now the brand ambassador for Canadian Ice Diamonds. “This is a fantastic association,” Stead says.

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As for why Canadian Ice diamonds are such a hit across the pond, Stead says it’s due to their being a “terrific product.” It’s also because of their unblemished origin in Canada: “In the U.K. the ethical origins and traceability of jewellery in today’s environment is a sensitive point— for good reason, even though in my opinion, 99 per cent of sourcing in major businesses around the world is ethical….With Canadian Ice diamonds, you have the security that it’s 100 per cent Canadian in terms of diamonds and metal content. This gives a high level of comfort to consumers who want to make sure they’re on a green agenda. This is a very important point for a lot of people.”

BY LYNNE SHUTTLEWORTH

We’ve built a partnership with JSN over the last few years, and they’re fantastic partners.” The affable Stead, born and raised in Australia and living in the U.K for five years after 20 years in the U.S., says he’s been to Canada a number of times and looks forward to returning for the Toronto International Film Festival in September. An enthusiastic hiker, he mentions that he’d love to hike in the Rockies some time. “It’s going to be awesome,” he says. [CJ] Justin Stead

Plans for the future include promoting Canadian Ice diamonds in a bigger way inside Goldsmiths locations. “We’ll build small Canadian Ice boutiques within our environments,” says Stead. “There will be special seating areas, and special wall counters. We’ll also be doing a lot of CRM and online promotions, events and training staff…every piece of the business will be touched. Canadian Ice is our signature diamond line.” A new twist Goldsmiths will also be introducing a new jewellery line featuring Canadian Ice diamonds, with earrings and pendants Canadian Ice diamonds at Goldsmiths and other additions that will “have more of a twist,” says Stead. He only has praise for Canadian Ice diamonds and the people who introduced them to him. “This is a fantastic story,” he says. “It’s great on every level in terms of the pricevalue relationship, and merchandising. It’s taking us to a whole other level….

www.canadianjeweller.com

2/24/12 3:11:55 PM

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socialmedia

Being picky is good Aileen Bennett is an award-winning speaker and author who rents out her brain to businesses to help them with customer service, corporate culture and communication. She curates a popular blog about ideas at www.creatingclever.com

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Thinking about hiring a social media consultant? Your success depends on their skill

WWW.CANADIANJEWELLER.COM

2/24/12 9:58:24 AM

socialmedia

“Who does your social media?” is the new question being asked in jewellery stores across the country.

content is king. Be wary of the too-tech-oriented that may not be able to deliver on the conversation.

The answer used to be “my nephew,” or the socially awkward, geeky daughter of a neighbour, who loves Facebook. No longer. Social media marketing is big news, and can have a big effect.

4. Has a background that shows their writing capabilities: Similar to #3, they must be able to write effectively. This goes beyond the skill of writing well. It means they understand how to incite action with their words.

Social media has changed the way marketing works. It used to be that marketers were known for talking; now it’s about listening.

5. Is interesting (Boring people write boring things): Likewise, boring social media managers will make your company or organization look like a Rotary club meeting. Not that there is anything wrong with Rotary club meetings. However, social media requires a sense of humour to navigate effectively. Think cocktail party, not Rotary club.

People are talking—on Facebook, Twitter, LinkedIn, blogs, forums, videos and all over the Internet. It’s a great opportunity to listen, and join in the conversation. I often work with businesses to develop their own brand, in line with their company values so they know what voice to use in the world of social media. Is your company playful, chatty, serious, cheeky or quirky? Social media gives you a way to show this before someone enters your store, and lets them know what to expect.

The ideal scenario is to run your own social media accounts, although I know that isn’t always possible, given time constraints and the pressure on successful jewellers. I asked my friend, Abi Augello, a PR consultant, to give me her thoughts on what to look for if you decide to hire a consultant. Here’s what she said:

“

Who is your social media consultant?

“

WHAT TO LOOK FOR

6. Won’t promise immediate results: Building a following and engaging in useful conversation takes time. Your social media consultant should be very clear on the time involved, and focus on quality engagement instead of flashy results. 7. Has success stories: They should be able to explain in detail a goal they accomplished for another client. 8. Cares about your vision: A consultant’s main goal is to use the world of social media to help you get closer to accomplishing your goals. Not theirs.

1. Is skilled at conversation: A skilled consultant must be able to build relationships on your behalf. They need to be able to speak with the authentic voice of your company or organization, keeping true to the personality of your business.

9. Is interested in your business: They ask lots of questions. Sometimes ridiculous questions. They want to know what your product is, what your favourite customer is like, how you got into the business, what makes you wake up in the morning, why you believe in the product, what your challenges are, what your accomplishments are, how many kids you have and who your favourite band is. They should ask these questions because they should care, and they should know the answers. They will be representing you to the public.

2. Encourages your participation: Unfortunately, hiring a social media manager does not mean you can forget about it completely and money will begin falling from the sky. A good manager will request a steady stream of content that they will use to create highly effective posts.

10. Barges right in: Like in #9, anyone who is trusted to build your brand in any capacity should make themselves a part of the family. It may take some time, but in a couple of months, a good consultant should fit in comfortably around the office and maybe grow into other responsibilities.

3. Will focus more on content than tools: Tools are great. They do nift y things and help gauge success as well as give you insight on analytics. However, when you are trying to build a brand and engage consumers,

Whether you do it yourself, or bring in a consultant, you need to start taking social media serioiusly, in a light-hearted way. Listening can lead to big success. [CJ]

A GREAT SOCIAL MEDIA CONSULTANT...

WWW.CANADIANJEWELLER.COM

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| MARCH 2012

2/24/12 9:58:37 AM

miningfeature

Brilliant in unc Demand for diamonds will ensure the mines, including those in Canada, keep producing BY PETER BRAUL

ince their discovery in India in the ninth century BC, diamonds have been one of the most sought-after luxury goods in the world and in that respect, not much has changed. Yet deposits discovered in Canada in the 1990s, the gradual reduction of De Beers’ control of the industry and the increasing demand for both gems and industrial diamonds in Asia has made the modern market diverse and robust. From the famous 478-carat Light of Letseng diamond, which sold for US$18.4 million in 2008, to industrial diamond dust, the diamond industry today is as multifaceted as the polished rocks themselves. THE POLISHED AND THE ROUGH

Diamonds originate in the Earth’s mantle, an environment where pressures vary between 650,000 and 870,000 psi, and temperatures range between 900 and 1,300°C. They are brought to the surface by volcanic action and are found in kimberlite pipes – vertical ore bodies of cooled magma – and alluvial deposits that have been eroded away from the pipes over millions of years. Diamonds entering the market now are usually between one and three billion years old.

CJ M A R C H 2 0 1 2 |

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Once extracted, the rough diamonds enter a complex grading scheme to determine their value. While the Light of Letseng sold at over $38,000 per carat, industrial stones sell for anywhere from $7 to $200 per carat, and crushing boart for $0.30 a carat. Natural diamonds that are not suitable for jewelry are not in great demand. Improved synthetic diamonds, which are increasingly cheaper to produce, satisfy nearly all of the demand for industrial-use diamonds. THE DIAMOND PIPELINE

Diamonds differ substantially from other commodities in the way they are sold. “Diamonds aren’t traded in an exchange market the way metals are,” says Matt Manson, CEO, president and director of the Stornoway Diamond Corporation. “There’s less speculation, there’s little stockpiling and there’s no futures or derivatives market.” All that makes for stable prices that do not typically jolt up and down very much over time. Traditionally, there is also a very tight connection between diamond mines and the jewellery sold as the end product. Whereas copper pots cannot be

WWW.CANADIANJEWELLER.COM

2/24/12 2:32:08 PM

miningfeature

ncertain times bought directly from Teck Resources, De Beers operates retail jewellery stores in upscale neighbourhoods like Beverly Hills and 5th Avenue in New York. At the beginning of their journey, rough diamonds are sorted either on site or at separate sorting houses – De Beers diamonds are divided into 12,000 different categories, each with its own corresponding value. Sorted rough diamonds then enter the market – known as the pipeline – in parcels containing a variety of stones, not all of them gem-worthy. These are put out to tender or sold at “sights” to selected customers. The customers, known as “diamantaires,” often have family ties to the cutting and polishing business, and are one of the most unique aspects of the industry. Whether bidding on tenders or buying sights, the diamantaires often have longstanding relationships with the mining companies they buy from. “These are the people who will take a rough diamond and, based on their experience, will try to maximize the value when they cut it,” says Patrick Evans, president, CEO and director of Mountain Province Diamonds

(MPD). “That’s really more of an art. The rule of thumb is if you’ve got a two-carat diamond, after you’ve cut and polished it, you’re down to a onecarat diamond.” And that one carat can cost the end consumer over $10,000, depending on quality. De Beers once held a near monopoly on the sale of rough natural diamonds, yet now most small to mid-sized mining companies are choosing to keep their sales independent. De Beers continues to sell its diamonds – roughly 40 per cent of the global supply – to a very select group of “sightholders” at its sales and distribution arm, the Diamond Trading Company (DTC). Manson says sight-based systems, which are still used by De Beers, Rio Tinto and several others, can be mutually beneficial, yet “in a tender-based system, it’s much more straight ahead.” However, the increased diversity of the market has not necessarily meant perfect transparency. Manson points out that the miners have not given up all control by moving away from the DTC system of selling. “You can control who’s bidding by controlling who is invited to the tender,” he says. WWW.CANADIANJEWELLER.COM

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| MARCH 2012

2/24/12 2:32:40 PM

miningfeature probably a conservative figure. That does not mean there will not be wild fluctuations along the way.” Indeed, rough prices are likely to remain volatile, yet fundamental economics of supply and demand cannot be ignored. “The inflection point (where demand outstrips supply) was previously expected to be in 2015, yet Rio Tinto published some data that showed that the inflection point is at the end of this year,” says Evans. “If China develops a per capita consumption of diamonds that is similar to Taiwan, then you’ll have to double mine supply,” says Manson. “All supply forecasts are showing at least a flattening and then a falloff.” The Canadian future

Diamond mines developing now have the advantage of being both low risk and low cost. Gahcho Kué, for example, has a potential production rate of 4.5 million carats per year over an 11-year mine life, with production scheduled to begin in 2015. “We’re looking at (startup) capital plus working capital of around $600 million,” Evans boasts, of the mine that aims to extract an estimated 49 million carats. “The mine is going to be generating roughly $600 million a year in revenue at today’s prices. That gives us a great deal of comfort.” In the case of the Gahcho Kué Mine, currently in development in the Northwest Territories, De Beers and MPD have formed a joint venture, with De Beers taking 51 per cent interest. “Mountain Province markets its 49 per cent share of the diamonds independently of De Beers,” explains Evans, who hopes to put his diamonds to tender in the world’s diamond capital, Antwerp. Whether sold by tender or at sights, and regardless of where they are produced, “diamonds are generally sold in Antwerp, Tel Aviv and Mumbai; those are the major cutting centres,” says Evans. Economic blips versus long-term reality

Accustomed to a steady price rise of about three per cent per year, diamond miners have been tossed about by the recession and the European debt crisis. In 2008, demand and prices plummeted, and sales ratcheted back. Almost immediately afterwards, prices skyrocketed. In 2010, prices went up by 30 per cent, and in the first six months of this year, they rose 35 per cent. According to Evans, “that was driven principally by demand growth in India and China.” When prices dropped 25 per cent in August of this year, most were expecting it. “That was a bubble waiting to burst,” advises Richard WakeWalker of WWW International Diamond Consultants. “Prices had risen inexorably since April 2009, and a correction was long overdue.” Yet for diamond miners, the long-term forecast is more important than spot prices. Wake-Walker advises that “three per cent growth annually is

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Stornoway’s Renard project, Quebec’s first diamond mine, is also expected to deliver the first of its 30 million carats in 2015, with total capital costs estimated from a March 2010 study at just over $500 million. And Manson believes that there are many more diamonds to be found. “The credit crisis really cleared out a lot of junior companies,” he says. “There’s only a handful of companies doing primary grassroots diamond exploration in this country anymore. I’m a big champion of the exploration potential in Canada for diamonds.” When the world’s eye surgeons need the sharpest of all knives, particularly in the treatment of cataracts, they turn to diamonds. Synthetic diamond knives used in eye surgery, while usually several millimeters long, are only between 150 and 200 micrometers thick. The secret to the diamond blade’s success is its remarkable rigidity, which allows the blades to be made extra thin. This reduces pressure inside the eye, especially on the cornea, which can result in crush injuries during surgery if the blade used is not sharp enough. Cuts made with diamond knives heal faster and cause less disruption to the rest of the eye than steel blades, which makes recovery more comfortable. Unlike steel blades, diamond knives can be reused, which cuts costs as well. In the United States alone, there are over 1.5 million people every year who require cataract surgery. [CJ] Originally published in CIM Magazine, November, 2011, Vol. 6 – No.7. Reprinted with permission of the Canadian Institute of Mining, Metallurgy and Petroleum

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For details, write #121 on Free Info Page, page 112 CJ_ad.indd 5

27 Queen Street East. Suite 1402 Toronto, ON M5C 2M6 Tel: (647) 345-5401 | Fax: (647) 345-5362 E-Mail: info@fantasticjewellerycanada.com www.fantasticjewellerycanada.com

3/1/12 4:37:30 PM

gemologyfeature

What happens in Tucson

With the whole city transformed into one giant gem show, it was BY DUNCAN PARKER paradise for gemologists and casual shoppers alike

very year, around the first week of February, the city of Tucson, Arizona, turns into a giant gem show. For two weeks, gems, minerals and jewellery are sold in every nook and cranny of the city. There are wholesale shows, shows open to the public, exhibitions, lectures, seminars and panel discussions, plus random people selling whatever they have, wherever they can.

Tucson helps to determine the mood of the industry. Prices can be set at the shows, and important new materials, methods, technology, treatments and synthetics can make their debuts in Tucson. Many dealers and buyers (and appraisers) will watch the pricing to try to help establish the market for the coming year.

The exhibitors come from around the world, and around the corner. There are Thai and Chinese gem dealers side by side with dealers from Arizona. Some dealers collect materials themselves, and sell from the back of their vans. Other dealers bring multiple tractor-trailers full of mineral specimens from Brazil.

Right from my arrival in town this year, it seemed to be quieter than usual. Most years, when I arrive at Tucson airport, the taxis and shuttles are packed full; this year, I was the only passenger on the hotel shuttle. The driver said checked baggage fees were affecting his business: “People would rather drive 500 miles than pay $25 each way for checked baggage.”

Dinosaurs and sapphires

Easy rider

One-of-a-kind designers and gem carvers exhibit next to dealers of massproduced gems. Some shows specialize in mineral specimens, and others have a focus on finished jewellery. You can buy a fossil of a complete dinosaur, or 500 identical matching sapphires.

I didn’t contribute to the car economy in Tucson. I purchased a bicycle for less than $100. Having a bike provided me with freedom of movement, and I avoided irritating 45-minute waits for taxis. When I left, I donated the bike to “Occupy Tucson.”

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gemologyfeature doesn’t make the Australian dealers too happy). When it was first introduced, this material had a reputation for cracking spontaneously, yet it is claimed that the new material is stable and doesn’t crack. Frequently, new products are launched at shows, and often, informal exhibitors (with no booth space) wander around with their new materials or tools, seeking opinions or interest.

Fossil shell cut in half for earrings

Overall, there really seemed to be fewer people in town. The shows were quieter, and many dealers implied there were weaker sales than usual. Some dealers, however, had brisk trade, and were thrilled with business. I heard a rumour about one dealer who was said to have completed a sale of a one carat red diamond for $2 million on the first day of the show. Many dealers with a specialty in rare and unusual gems, one-of–a-kind gems or custom jewellery were happy with the shows. The ability to offer something unique is a benefit. Lots of dealers carried dozens of types of assembled gems, and most of them were fun, bright colourful things, not attempting to look like any natural gem. An example was mother of pearl, with nice iridescence, between layers of colourless quartz. It has an interesting look, and doesn’t resemble any natural gem. This dealer immediately volunteered… “These are triplets”— meaning three layers glued together. Volcanic activity

One dealer was selling blue and green transparent faceted stones. The sign indicated that the stones were “obsidian,” which is a natural glass that sometimes forms as a result of volcanic activity. I asked about the origin of these “gems,” and was told they were from Tibet. I was doubtful of the origin and the identity; however, they were cheap, and I knew many curious gemologists were going to buy one.

Mashallah Quraishi is an inventor who has devised and patented a casting method that uses an aluminum rod when spruing a tree of wax models. This hollow metal rod allows for wax to be injected very swiftly and uniformly, eliminating the risk of porosity, and reportedly better casting of metals. Mr Quraishi was walking from show to show trying to drum up business and showing his innovative casting “sprue tree.” Another informal exhibitor, former Canadian Gemmological Association President Warren Boyd, was showing fine-grained light grey granite with spherical blue inclusions that range from a few millimetres to the size of a nickel. This ornamental gem, dubbed “raindrop azurite” is being made into very attractive cabochons, boxes and other decorative items. The mainstays of the gem world were there too, of course: Rubies, emeralds and sapphires were represented, though fewer in number, and fine specimens were very costly. Cultured pearls were abundant, with very modest prices for freshwater pearls in any shape and size you could imagine. Meet the Flintstones

Beads made from large crystal fragments or huge freeform ornamental materials provided a broad choice of what I call “Wilma Flintstone” jewellery, great for the daily neck workout. Some of these beads were 30 mm in diameter. Beads were abundant in Tucson, and they were not expensive. There are also educational sessions during the shows. I was a panelist on a session about appraisals. There was heated discussion about fair market values, insurance, certificates and reports, enhancement, and confidentiality and disclosure. The main discussion was about issues arising from insurance replacement of items that were appraised for substantially more than the cost to replace the items. No simple resolution was reached. [CJ]

Black diamonds have been popular for many years, and there is a treatment to make very low-quality diamonds a uniform black colour. The price of this “colour enhanced” diamond is clearly tied closely to the labour cost for cutting; 0.04ct treated black diamonds were selling for as little as $125 per carat, and 1.00 carat single stones for as little as $100. Obviously, it costs more to cut 20 stones totaling 1.00 carat than to cut one stone totaling 1.00 carat.

Rough Ethiopian opal

Out of Ethiopia

Ethiopian opal has been available for several years. There were dozens of dealers selling this gemstone. The opal has a bright play of colour against a body colour that usually has a yellowish to brownish hue. The Ethiopian opal sells for about a third of the price of an Australian opal (which www.canadianjeweller.com

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| MARCH 2012

2/23/12 4:41:41 PM

polygoncjreport

POLYGON/CANADIAN JEWELLER MAGAZINE DIAMOND REPORT SUPPLY & DEMAND Polygon’s Diamond Supply & Demand report provides key decision-making information to jewellery professionals dealing I loose diamonds. It highlights shortages and surpluses in this sector, representing tangible business opportunities on both supplier and buyer ends. The data reflects actual searches performed and real-time inventory available through Polygon’s suppliers in our diamond database. Demand is shown as a percentage of the total number of searches and supply as a percentage of the total diamond inventory available. The report displays a short-list of diamonds with the highest demand and was compiled over a fourweek period in January 2012.

Most Popular: Clarity

1.19% 0.20% 5.87% 4.31% 0.45% 1.20% 3.71% 0.35% 0.07% 3.40% 10.30% 4.56% 4.92% 57.80% 0.52% 0.93%

Most Popular: Color Demand Supply Shortage/ Avg. Price (%) (%) Surplus per Carat

PRICING The Diamond Prices report is provided by Polygon for the benfit of the trade and provides key decision-making information to jewellery professionals dealing in loose diamonds. Prices are per-carat, wholesale, asking price averages for independently-graded round diamonds in Polygon’s diamond database, as of November 1st, 2011. Actual transaction prices are confidential and may be somewhat lower. This matrix counts SI3 as I1 for purposes of computing averages. In general, finer makes will command higher prices, as will stones at the higher end of each weight range. The data represents the market trends on Polygon vs. the industry as a whole and is intended to be a comparative source of additional market information

Most Popular: Cut Demand Supply Shortage/ Avg. Price (%) (%) Surplus per Carat

Demand Supply Shortage/ Avg. Price (%) (%) Surplus per Carat

20792 17203 16766 14194 12071 10200 8367 7474

7631 6912 6849 6516 6100 5426 4626 3886

Shape

Carat

Colour

Clarity

Demand (%)

Supply (%)

Round Round Round Round Round Princess Round Round Round Round Cushion Cushion Princess Cushion Princess Princess Cushion Round Princess Oval

1.00-1.25 1.50-1.99 2.00-2.99 1.26-1.49 0.50-0.69 1.00-1.25 0.70-0.79 0.90-0.99 3.00-3.99 0.80-0.89 1.00-1.25 1.50-1.99 1.50-1.99 2.00-2.99 2.00-2.99 0.70-0.79 1.26-1.49 <0.30 0.80-0.89 1.00-1.25

G G H H G G G G H H G G G G G G G G H F

SI1 SI1 SI1 SI1 SI1 SI1 SI1 SI1 SI1 SI1 SI1 SI1 VS2 SI1 SI1 SI1 SI1 SI1 SI1 SI1

3.08% 2.25% 2.09% 0.94% 0.92% 0.88% 0.80% 0.72% 0.63% 0.54% 0.48% 0.44% 0.39% 0.37% 0.36% 0.33% 0.26% 0.26% 0.25% 0.22%

0.42% 0.21% 0.21% 0.09% 0.21% 0.05% 0.20% 0.09% 0.05% 0.06% 0.08% 0.03% 0.01% 0.03% 0.02% 0.02% 0.00% 0.03% 0.01% 0.03%

SI2

1584 1509 1475 1435 1351 1256 1192 1012

1225 1161 1120 1043 993 929 837 677

SI2

3819 3575 3382 3220 2981 2541 2243 1768

2236 2178 2113 1992 1912 1800 1725 1381

SI2

6379 6008 5755 5474 5263 4796 4311 3552

3492 3224 2992 2964 2869 2815 2482 2208

SI2

14937 11135 13694 10288 12869 10147 11654 9394 10776 8988 9212 8144 7697 6844 6794 5848

IF D E F G H I J K

5966 4986 4756 4465 4206 3546 2887 2409

VVSI

4971 4639 4326 4153 3826 3232 2571 2273

D E F G H I J K

31141 22003 18980 15323 12716 10360 8769 7073

D E F G H I J K

98646 74110 54378 40869 30655 23649 17414 14106

VVSI

4501 4102 4010 3630 3253 2801 2420 1946

4052 3573 3443 3164 2902 2500 2156 1820

9/10 CARAT (0.90 - 0.99) VVS2 VS1 VS2

14772 11241 10143 12495 10390 8619 10909 9419 7840 9082 8269 6605 7937 6932 6161 6524 5640 5238 5666 4704 4537 4460 3763 3599

I1 4738 4614 4181 3932 3858 3686 3632 3199

7887 5812 5259 5056 4550 3894 2953 2523

1/2 CARAT (0.50 - 0.69) VVS2 VS1 VS2

VVSI

8212 7500 7010 6163 5597 4902 4161 3145

6814 6657 6381 5661 5277 4539 3761 2973

Shortage/ Surplus

$5,449.56 $7,386.64 $8,801.89 $5,701.14 $2,380.37 $3,090.31 $3,131.28 $4,364.08 $10,611.34 $3,271.91 $3,337.25 $5,374.98 $5,490.20 $7,083.40 $6,114.04 $2,148.94 $3,734.71 $1,190.68 $1,917.47 $3,347.81

SI1

SI2

3285 3051 2831 2576 2377 2073 1855 1688

2545 2478 2366 2105 2016 1843 1741 1543

1576 1554 1509 1432 1421 1371 1296 1177

SI1

SI2

6112 5716 5501 5042 4718 4120 3401 2640

5186 4855 4666 4312 4058 3575 3117 2342

2864 2807 2751 2535 2422 2369 2146 1942

1 1/2 CARAT (1.50 - 1.99) VVS2 VS1 VS2 SI1

23478 19575 16740 13706 11767 9930 8063 6529

VVSI 70873 59456 48813 37682 27667 22347 17178 13569

20367 16637 14639 12761 10814 9492 7681 6089

17225 15018 13323 11587 9854 8415 7039 5830

14385 10972 12875 10001 11559 9723 10431 9039 9146 8171 7753 6891 6458 5809 5385 4771

3 CARAT (3.00 - 3.99) VVS2 VS1 VS2 54937 47204 38751 33732 25907 20946 16429 12418

45969 38601 33787 29147 23312 17932 14558 12279

36051 31031 28135 23339 18631 15304 12762 10896

Avg. Price per Carat

SI2

8598 8080 7670 6972 6650 5948 5158 4298

4223 3520 3465 3324 3281 2976 2722 2538

SI1

SI2

22958 19957 18426 16837 14141 11974 10140 9134

15250 15042 13908 12602 11713 10188 9071 7824

I1 7080 6562 5889 5116 4701 4488 4338 4242

www.canadianjeweller.com

2/23/12 5:00:26 PM

Specializing in Natural Fancy Color Diamonds & Fine Jewellery!

For details, write #122 on Free Info Page, page 112

Single Natural Fancy Color Stones from .50 carat and up in Yellow, Pink, Blue, Green and more (All certified G.I.A) STOCK# SHAPE CARAT COLOR CLARITY DIMENSIONS HB/K/1279 CUSH 1.02 FCY VS2 6.12*5.43*3.40 HB/F/1101 RBC 1.05 FCY H/C 6.67*6.70*3.99 HB/K/1282 CUSH 1.05 FIY VS2 5.61*5.39*3.74 HB/K/1280 RAD 1.07 FCY VVS1 5.72*5.41*3.65 HB/K/1281 RAD 1.16 FIY H/C 6.44*5.84*3.56 HB/F/1209 CUSH 1.41 FCY SI1 7.01*6.08*3.69 HB/K-1278 RAD 1.46 FIY VS1 6.08*5.93*4.03 HB/K-1239 RAD 1.51 FCY IF 6.70*6.15*4.06 HB/K/1240 RAD 1.57 FCY IF 6.29*6.23*4.19 HB/K/1244 RAD 1.80 FCY IF 6.76*6.69*4.69 HB/K/1277 CUSH 2.01 FCY VS2 7.32*7.20*4.36 HB/K/1273 RAD 2.04 FCY VVS2 7.34*6.85*4.48 HB/F/1290 CUSH 3.14 FCY VVS2 7.93*7.89*5.33 HB/K/1257 CUSH 3.60 FIY IF 8.69*8.36*5.54 HB/S/1287 CUSH 4.01 FIY VS2 9.61*8.78*5.57 HB/K/1265 RAD 4.12 FCY IF 9.55*8.76*5.44 HB/K/1264 RAD 4.28 FCY IF 8.64*8.63*5.91 HB/K/1288 RAD 5.05 FCY SI1 9.12*9.02*6.28 HB/K/1266 RAD 5.17 FCY IF 9.74*9.44*6.09 HB/R/1289 RAD 5.95 FIY IF 10.84*10.18*6.03 HB/F/23 CUSH 8.88 FCY VS2 12.07*11.49*7.10 HB/K/1263 CUSH 0.54 F/PUR/PINK VS2 4.98*4.26*2.89 HB/K/1283 HEART 1.00 F/I/PINK SI1 6.54*6.83*3.05 HB/1280 CUSH 1.02 F/PUR/PINK SI1 5.95*5.36*3.61 HB/DV/11 RAD 1.08 F/L/PUR/PINK H/C 6.25*5.26*3.66 HB/K/1259 PEAR 1.18 F/I/PINK H/C 7.62*5.39*3.74 HB/K/1275 RAD 1.21 F/PUR/PPINK SI2 6.35*5.49*3.84 HB/K/1260 CUSH 1.57 F/PUR/P HC 7.03*6.62*4.05 HB/1282 OVAL 1.00 F/I/BLUE IF 8.70*6.46*2.48 HB/S/1284 RAD 1.74 F/L/BLUE IF 6.91*6.82*4.32

LAB DEPTH TABLE GIA 62.7 74 GIA GIA 69.4 64 GIA 67.4 72 GIA GIA 60.8 59 GIA 68 69 GIA 66.1 74 GIA 67.2 68 GIA 70 63 GIA 60.6 65 GIA 65.4 63 GIA 67.6 60 GIA 66.3 65 GIA 63.5 61 GIA 62 70 GIA 68.5 71 GIA 69.6 68 GIA 64.5 69 GIA 59.2 72 GIA 61.8 69 GIA 67.9 66 GIA 44.7 71 GIA 67.3 60 GIA GIA GIA GIA GIA

GIRDLE POL SYM FLOUR M-VTK VG G N VTC-EXT VTN-EXT

VG VG

G G

N MB

M-TK EX ETK VG VTK-XTK VG TK-XTK VG XTK VG ETN-ETK G ETK G VTK-ETK EX TKVTK EX M-VTK VG VTK VG ETN-VTK VG STK-VTK G XTK VG VTN-ETK G VTK-XTK G TN-VTK G STK-ETK VG STK-XTK VG

VG G G G VG VG G VG G G VG VG G VG G G G G G

F S N N F N N F S N N N N N N N S N N

G G

N N

69.9

VTK-ETK

38.4 63.4

70 60

TN-ETK VG VTK-ETK VG

PRICE

Please call us for the price

Tel: (416) 363-2111 Fax: (416) 363-1349

Toll Free: 1-866-211-7778 www.imperialcolordiamonds.com hossein@imperialcolordiamonds.com 55 Queen Street East, Suite 1209, Toronto, Ontario, Canada M5C 1R6

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2/24/12 1:17:40 PM

For details, write #120 on Free Info Page, page 112 CJMAR2012_9749_CARMEN_VERSACE_DPS.indd 4

2/29/12 2:03:04 PM

For details, write #120 on Free Info Page, page 112 CJMAR2012_9749_CARMEN_VERSACE_DPS.indd 5

2/29/12 2:03:05 PM

Romancing

coverstory

TONE Vandenberg’s Jewellers’ display cases of beautiful gemstones make customers happy, and that’s the main goal By Gord Henning PHOTOGRAPHY BY DUSTIN DELFS

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the

NES 054-059.CJ_CoverStory.indd 55

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coverstory

“Indiana Stones.” Ralph Vandenberg’s nickname was given to him when Edmonton’s Vandenberg’s Jewellers was carving out a niche in the coloured stones market. “I went out hunting and buying stones and bringing them back. Nobody was carrying much in coloured stones back in the 80’s when we started in that direction,” says Vandenberg, “and we’ve been very successful at it. I’m not much of a businessman, yet my passion for the stones keeps me going...” Back then, buying stones in some parts of the world was “interesting” admits Vandenberg, calling them his “old wild west days.” He won’t name any specific countries, yet says in some, what is now a simple ordering process to get stones back to Canada, was then “very challenging. I don’t want to say any more so I don’t get into trouble.” Today it’s much easier: “I

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meet my dealers in Seattle or Vegas or Tucson and I just pick the stones I want and they send them to me.” Change is constant

Change is a constant in life – and in business. Vandenberg knows this well, as the original retail store run by his father sold greeting cards, not jewellery – until the day their mall manager suggested they start selling fashion jewellery. He even had a space for them to do it in: “I’ll give it to you for six months free” was the offer for the storefront, says Vandenberg. “It was already built, yet it had been built too nice. People came in expecting to find fine jewellery, so we soon started carrying that.” From there, things slowly snowballed as Vandenberg’s showcased more gold, then gemstones and, eventually, diamonds.

www.canadianjeweller.com

2/23/12 4:37:39 PM

coverstory

“The custom work, it’s an art. As long as we

maintain that niche, that’s our main thing and it keeps customers coming back. Our style is very classic.

”

The greeting card business and the jewellery business are far from similar, however, so the younger Vandenberg did an apprenticeship of sorts with another Edmonton jewellery store after graduating from the California campus of the Gemological Institute of America in 1978. For two years he worked at Jason’s Goldsmiths, which he describes as being the perfect match at the time: “They needed a gemologist and I needed to learn how to run a jewellery store.” In 1980 he moved on to open Vandenberg’s Jewellers’ second location, this one downtown. Six years later, he and his father shuttered the mall store to work together in the one location, which has been in Edmonton’s Manulife Place since 1990. The Vandenbergs moved one store over in the shopping concourse from their original spot within Manulife Place 12 years ago, and then soon learned that their old spot was about to be occupied by a national luxury jewellery retailer: “Oh no, Birks is coming in next door,” Vandenberg says was their first thought when they heard the news. Arrival of a rival

In the end, however, the arrival of a rival was a good thing: “The foot traffic increased dramatically, with people coming in here and next door.” Plus, the Vandenberg’s Jewellers difference is their personal and attentive service, delivered by a staff of 10. “I’m a very long-term customer,” says Michele Kirchner, an Edmontonian, “and I’m not someone who drops $100,000 in there at all; however, the service is the same for anyone.” Education is emphasized by Vandenberg’s Jewellers, a fact reflected in the store’s unique layout. There are traditional long jewellery display counters, holding mainly gold and diamond jewellery. The focal point is a series of display cubes laid out in the centre. Each cube, ranging in size from about 18 inches square up to 24 inches square, is a showcase for one or two different types of coloured stones, such as rubies, tanzanites and topazes. “Pretty much every stone out there we have examples of,” says Vandenberg. Recently, a hot seller has been morganite: “People love it.” www.canadianjeweller.com

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Stones from the ground

The gemstones are, naturally, highlighted in finished jewellery for sale, and each pillar also contains examples of what the stones look like when they are pulled from the ground. The intimate nature of the cubes knocks down a barrier between the staff and the customer, says Vandenberg, allowing for a more natural interaction: “When we’re discussing a piece of jewellery we can take it out and talk about it,” he points out. “I like that approach better……”

It’s an approach that is a hit with customers. “The educational aspect is what makes it different,” says Chandra Mahabir, another long-time customer whose favourite Vandenberg’s piece is an alexandrite locket. “They always have something unique and unusual for you to look at.” She recalls one visit where rough emeralds were on display, just “as though you were walking along and found them sticking out of the ground.” Kirchner also loves the uniqueness of the displays, saying that they “are always really interesting. I don’t know how many jewellers would take the risk of bringing in such different stones.” “Most of us don’t know what we’re looking at when we go into a jewellery store, and he makes it a point to explain it all to you,” says Mahabir of Vandenberg. “I think it’s great for the industry.” Answers available

This focus on education is a big part of Vandenberg’s new online project, a revised Vandenberg’s Jewellers website featuring educational videos, pictures and short and lengthy text segments that consumers can scroll through, learning about all the different types of coloured stones. “We hope to pack as much information as we can into it,” says Vandenberg. “People are so connected nowadays that when they want an answer, they want it right now, and our site will be a resource.” The website will include an e-commerce portion to facilitate sales to what is now a global clientele, as customers who first experienced Vandenberg’s Jewellers in person have now moved on to places such as Europe and the U.S. “Most of them have been here at one point, so they just know the quality that we stand for, they know that’s what they’ll get. I have one customer in the United States who just calls me up a few days before he needs something and we quickly ship it down to him,” says Vandenberg. Currently, Alberta’s buoyant economy is allowing Vandenberg’s Jewellers to flourish: “We’ve been very blessed out here in this part of the country,” says Vandenberg, noting that business has grown steadily over the past several years.

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Things haven’t always been as golden: The company’s revenues dropped by about 80 per cent following the implementation of the federal government’s National Energy Program back in the 1980s. The crisis triggered the move to specialize in coloured stones: “I think it saved us,” says Vandenberg. “I love diamonds, don’t get me wrong. Yet diamonds are pretty much all the same, while coloured stones, they have such a remarkable range.”

“The custom work, it’s an art,” says Vandenberg. “As long as we maintain that niche, that’s our main thing and it keeps customers coming back. Our style is very classic,” he adds, “we’re not on the edge, style-wise.” Classic or not, the company’s work has hit a chord with its customer base: “They can really think out of the box and come up with spectacular designs,” say Kirchner, who once brought in a pair of “boring” earrings that Vandenberg’s transformed into new, “beautiful” pieces for her.

A WINDOW ON THE WORK

Today about 70 per cent of the store’s business is custom work, a tradition that was started by the senior Vandenberg when he was able to repair customers’ jewellery in the original store. Now Vandenberg’s has three bench workers and three designers on staff, and all the work is done on site. “There are windows where people can watch the work being done right in front of their eyes,” says Vandenberg. “We’re in the process of installing closed circuit TVs that will broadcast our workshop out in the street in front so people can watch from there.”

With customers such as Kirchner spreading the word, it’s likely that Vandenberg’s Jewellers’ future will be equally beautiful. After all, the Vandenberg motto is: “As long as we keep in mind that everything that we do is intended to make someone happy, we can’t go wrong.” [CJ]

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designerprofile | GiorgioGalli

VERSACE WATCH ART Versace designer Giorgio Galli has a passion for designing detailed and beautiful watches BY BONNIE SIEGLER

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GiorgioGalli | designerprofile

eave it to Versace to make sure that even your wrist dazzles. And leave it to Italian-born Giorgio Galli to ensure the brand’s glamorous, sophisticated styles are still coveted and scrutinized by collectors and those who just love wearing watches. At age 49, Galli, a graduate of the renowned Art Institute of Florence, now lives in Milan, Italy with his wife and two children. He continues to design Versace watches and reign over the Timex Group, which took over licensing for Versace seven years ago. “I’ve been with Timex as a consultant for 15 years,” says Galli from his offices at the Giorgio Galli Design Lab. Watches have been his number one passion for decades, and over the past 20 years, he has developed a unique expertise with many bestsellers for some of the biggest watch brands in the industry, such as Movado, Seiko, Citizen and Nautica.

Learning about luxury

Galli admits that working up the timepiece ladder was a long process. “When I was 19, I did a project for LucasFilm in San Francisco, then was with Invetimenti Group for a few years, which was my first experience in watches, back in 1991. So before I began with Versace, I had enough experience to bring my watch designs up to luxury.”

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designerprofile | GiorgioGalli

Galli’s passion for the watchmaking craft, a niche that almost went into extinction back in the 1970s, comes from an early age. “It is something that grows inside,” he explains of his passion for making luxury designs. “I’ve always loved watches, and I used to buy a lot of them, even before I began working in the industry. I think it’s a real passion for men…we start to buy one, then the next and the next. Watches are an incredible piece of art, and the designs of some of the high-end watches are just incredible.” From his headquarters in Milan, Galli works closely with Donatella Versace, the company’s Vice President, chief designer and fashion creator. “She is very influential,” says Galli of Ms. Versace’s influence over the brand. “We have meetings with her and her staff, and she dictates most of what we do here. All the inspiration comes from her in terms of shapes, material, colour…Of course, we have to translate what she has in mind into a watch, so that’s our main goal, basically. She has a very strong presence in the designing of the watches.”

Galli is also keenly aware of competing with less expensive watches when he applies technology and creativity to the Versace brand. He says he designs with a person in mind who is confident, strong, stylish and has the means to purchase a luxury timepiece.

Explosion of colours

Looking ahead for this year, Galli forecasts: “Both in Versace fashion and watches, we have colours as a strong element into the design…very glamorous. The main point is really colour – colour dials, colour straps, and we’ve been expanding the colour line. So we have yellow, fuchsia pink, red—which is very strong—light blue and of course, white, which is still a very strong colour in watches.” With colour in mind, Galli begins working and conceptualizing with sketches or 3-D renderings. He plans each task in an extremely meticulous way, embracing a total vision of the project, including the positioning, the strategy and the reasons for his design choices in direct relation to the brand.

“It also depends on the categories, of which we have several in the line… some are more sporty luxury watches, while others are more elegant. So each has a different spirit within the DNA of Versace,” he says. “I’m doing many brands with many price points. However, with Versace, it’s a completely different process. It doesn’t diminish other watches, because inspiration can come from anything, to be honest; life is full of revelations and creativity. Most of all with Versace, everything is driven by the inspiration we take from the Versace shows, fashion and designs. I think that brand has a very precise customer and is easy to identify.” Image Transformation

When a man puts on a Versace silk shirt, it instantly transforms his image. Galli says the same is accomplished with a Versace watch: “Again, the elements of Versace – the Medusa head, the Greek markings – design elements reflect the image of Versace. They immediately tell the story, there are so many elements that make up the Versace world. It’s also important to have an eye for detail in a very precise and sophisticated way.” So how would Galli describe a Versace watch in three words or less? He laughs. “Well, I would say glamorous,” he says. “That’s a perfect word to describe Versace. Creative is another element—and fun. Always fun.” In Canada, Versace watches are distributed by Carmen Jewellery. “Two years ago we saw the collection at Basel and loved it,” says National Brand Manager Mark Friedman. “They’re doing really well, and we’ve opened another 15 dealers in Canada.” Friedman is very enthusiastic about Versace watches. “The attention to detail and commitment to the finest quality co-exist in every Versace creation. And we’re proud to represent the brand,” he says. [CJ]

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For details, write #124 on Free Info Page, page 112

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TOLL FREE 1-(888) 825-0527

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La Corporation des bijoutiers

60 ans d’engagement… du Québec

Par André Marchand, président, et Lise Petitpas, directrice générale

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a Corporation des bijoutiers du Québec fêtera en 2012 son 60e anniversaire. En effet, il y a six décennies, le Québec comptait deux associations indépendantes qui regroupaient les horlogers et les bijoutiers de métier au sein de leur association respective : l’Association des bijoutiers du Québec et l’Association des Horlogers du Québec. Ces hommes et ces femmes d’affaires étaient avant tout animés par la poursuite du succès, tant personnel que professionnel.

• • • • • • •

C’est en janvier 1952 qu’ils atteignirent leur but, lorsqu’ils décidèrent de se regrouper en une seule entité et jetèrent les bases de ce qu’on connaît aujourd’hui sous l’appellation de « Corporation des bijoutiers du Québec » (CBQ). À l’époque, ils étaient loin de se douter que 60 ans plus tard, leur corporation représenterait tant de professionnels au sein d’une industrie dont l’activité se nourrit de beauté et de créativité.

Comme on peut le constater, la Corporation est entièrement dévouée à la défense des intérêts de ses membres. Toutefois, elle ne néglige pas pour autant les intérêts des consommateurs. C’est pourquoi elle travaille de concert avec l’Office de la protection du consommateur, lequel transmet à la Corporation toutes les plaintes reçues associées à l’industrie de la bijouterie. La direction y donne suite en les soumettant à un comité de conciliation qui réussira à réconcilier les parties et à régler les plaintes avec un taux de réussite impressionnant de 95 %.

La CBQ regroupe les bijoutiers détaillants, fabricants, importateurs, grossistes, distributeurs et représentants en bijouterie. Sa mission première est de défendre leurs intérêts et de répondre à leurs besoins en offrant des outils leur permettant d’exercer leur métier avec confiance et professionnalisme. Dotée d’un code d’éthique détaillant leurs devoirs et obligations, la Corporation a de plus élaboré un cadre d’engagement du bijoutier en tant qu’artisan, professionnel et membre de la grande confrérie des gens d’affaires. Les membres de la Corporation des bijoutiers du Québec peuvent bénéficier de cours et de séminaires élaborés et présentés par des experts, ainsi que de soutien professionnel, de produits d’assurance et d’un programme de sécurité. Le tout a été mis au point par leur corporation, non seulement pour faciliter la vie des adhérents, mais également pour les aider à garder le cap sur la prospérité. La CBQ offre également plusieurs autres services très appréciés représentant des avantages indéniables et des économies appréciables. Par exemple, des tarifs privilégiés ont été négociés pour l’utilisation des cartes de crédit Visa et MasterCard dans les commerces des bijoutiers. De plus, au fil des ans, la Corporation a négocié des ententes avec des organismes offrant des services dont ses membres peuvent bénéficier en tout temps. Ainsi, des enveloppes de réparation conçues spécialement pour les horlogers et les bijoutiers leur sont offertes à un prix concurrentiel. En outre, grâce à des ententes avec Postes Canada et FedEx, ils peuvent profiter d’une gamme de produits et de services de messagerie, et ce, à des prix représentant des rabais allant jusqu’à 55 pour cent. Connaissant l’importance de la communication avec ses adhérents, la permanence de la Corporation produit une publication trimestrielle, le bulletin « Bijouterie », dont le but premier est de les informer des tendances de l’heure, de l’actualité et des événements touchant l’industrie, et bien sûr, des activités de la CBQ. De plus, sept dépliants de vulgarisation traitant de sujets divers sont offerts gratuitement aux membres de la CBQ afin qu’ils puissent les offrir à leurs clients, et ainsi, mieux les informer sur le merveilleux monde de la bijouterie. On retrouvera donc dans les présentoirs de leurs commerces les dépliants suivants :

Le diamant, un monde fascinant; Petit guide d’achat des pierres précieuses; Les perles, pour un achat judicieux, réfléchi et de qualité; Le remodelage de vos bijoux; Tout sur l’achat d’un bijou, lorsqu’un rêve devient réalité; Conseils pratiques sur le port d’une montre; et L’assurance bijoux, êtes-vous bien protégés?

Toutes ces activités occupent la permanence et les comités de la Corporation, mais une activité annuelle constitue la grande vitrine de l’industrie de la bijouterie au Québec : l’Expo Prestige. Témoignant de la longévité de la Corporation, la 41e édition de cette grand messe de la bijouterie a eu lieu cette année sous la bannière du 60e anniversaire de la Corporation. Considérée comme la foire commerciale la plus belle du Canada, l’Expo Prestige est le fruit d’une équipe d’organisateurs infatigables qui en ont fait un événement incontournable pour les professionnels de tous les segments de l’industrie – ces passionnés de la bijouterie, de son design à sa fabrication. La Corporation des bijoutiers du Québec est aujourd’hui un organisme très bien structuré. Un comité exécutif, composé de neuf membres votants et de la directrice générale, planifient et gèrent les activités qui permettront à la Corporation d’atteindre les objectifs adoptés lors de leurs assemblées. Fait à noter, dans un souci d’assurer une relève efficace, deux de ses jeunes adhérents suivent de près l’évolution et les progrès constants de la technologie moderne adoptée dans l’industrie de la bijouterie. Ainsi, la Corporation demeure à l’avant-garde du développement de l’industrie. La direction est bien consciente que, pour être forte et bien répondre aux besoins des membres, il est indispensable qu’elle puisse compter sur leur contribution. En effet, elle sait que leur apport est indispensable à la création de la synergie nécessaire au développement de projets d’envergure. D’ailleurs, on peut affirmer sans se tromper que la CBQ puise sa force dans leur implication, leur engagement et leur participation, car c’est avec eux qu’elle a toujours grandi et avec eux qu’elle compte demeurer encore très longtemps au service de l’industrie de la bijouterie. Dans le contexte actuel de la mondialisation, sur fond de crise économique mondiale, il n’est pas facile d’assurer la prospérité d’une entreprise, encore moins d’une industrie. Toutefois, la Corporation des bijoutiers du Québec poursuivra sans relâche ses efforts pour consolider l’avenir de l’industrie et de ses membres. [CJ] www.canadianjeweller.com

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L’ART DE LA JOAILLERIE : UN REGARD AUTHENTIQUE SUR L’INDUSTRIE QUÉBÉCOISE Troisième partie

Noam Carver est un sculpteur, designer et orfèvre dont les bijoux allient des motifs classiques et contemporains de partout au monde avec la majesté des ornements royaux. Ses conceptions ont mérité une multitude de prix.

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Quelques conseils incontournables pour poursuivre ses ambitions

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cjenfrançais

n tant que collaborateur invité pour Canadian Jeweller, c’est avec plaisir que je publie mon dernier essai sur l’industrie de la joaillerie au Québec. Le premier volet de cette série se penchait sur le début d’une carrière en joaillerie et présentait les différents chemins empruntés pour apprendre l’art de la fabrication de bijoux. J’ai relaté les différentes options, en présentant les pour et les contre des études scolaires et des stages d’apprentissage. Mon argument principal est que même si chaque personne est unique, le succès dépend toujours de la volonté et de la persévérance de l’étudiant. Dans mon deuxième éditorial, j’ai parlé de la composition de l’industrie, du réseau d’artisans, du code de conduite tacite et de l’histoire de l’évolution de l’industrie au Québec. Ceci nous mène au dernier volet de la série, essentiellement l’étape la plus importante dans l’évolution d’un joailler : sa carrière.

L’importance d’une carrière heureuse

Je plaisante souvent avec mes clients sur le fait que malgré mes longues heures et les nombreuses fins de semaine au bureau, je n’ai jamais travaillé un seul jour de ma vie. J’ai réalisé que si on a la chance de trouver une carrière stimulante qui présente des défis, notre perception du travail change. C’est pour cela que je souligne toujours l’importance de faire des choix de carrière basés sur l’intérêt et la passion plutôt que sur des considérations financières. Dans la vie on ne nous donne rien. Nous sommes confrontés à de nouveaux défis tous les jours, mais lorsque nous sommes passionnés, il y a toujours moyen d’en venir à bout. À chacun son but

Je crois que tout le monde possède un talent unique. Le découvrir est probablement l’étape la plus importante dans une vie, car cela contribue à notre confiance et nous permet d’identifier nos forces et limites. Nous avons tous des aspirations, mais la réalité entre toujours en compte lors du choix d’une profession. Le concept sous-jacent d’une ambition est basé sur le désir d’accomplir davantage et viser plus haut. Nous devons cependant comprendre nos limites pour trouver le niveau qui nous mènera sur le bon chemin afin que nous puissions atteindre nos objectifs. Cette dichotomie existe dans tous les aspects de la vie, et identifier ses limites ne veut pas dire se contenter de moins. En effet, ceci vous aidera à

atteindre votre objectif plus rapidement. Par exemple, en tant que designer indépendant, j’ai toujours rêvé d’obtenir une reconnaissance internationale de mon travail et de vendre mes collections dans des boutiques à travers le pays. Pour que ce rêve devienne réalité, il faut des designs exceptionnels, un bon modèle d’entreprise et des ressources financières importantes. Suite à quelques expériences éprouvantes, j’ai réalisé que je ne pouvais pas y arriver seul. Malgré mon désir d’atteindre mes buts sans aide, j’ai constaté mes limites et je me suis adapté en conséquence afin de continuer à évoluer. En cédant donc un peu le contrôle et en trouvant une équipe avec laquelle je pouvais collaborer, je suis maintenant dans une meilleure position pour accomplir mes objectifs. De nombreuses options

L’industrie de la joaillerie au Québec est petite mais viable. On peut choisir une carrière d’artisan et bien gagner sa vie. Se pencher sur un métier solitaire est un très bon moyen d’atteindre un niveau d’excellence et de développer une clientèle fidèle. Et si votre métier vous apporte bonheur et un sentiment d’accomplissement, vous avez déjà réussi! De nombreux joailliers développent un cabinet privé en fabriquant des pièces pour des gens qu’ils connaissent, tout en élargissent leur réseau. Ce travail complémentaire est une bonne option puisqu’il permet de travailler à domicile et de contrôler les dépenses. En développant votre clientèle, ceci peut facilement mener à une carrière principale. Au Québec, il y a une grande variété de bijouteries indépendantes avec des détaillants qui offrent leur temps pour ceux qui s’intéressent à la vente en gros. L’Ontario et les États-Unis sont aussi à deux pas et représentent un plus grand marché. Par ailleurs, cette option présente d’importantes difficultés puisqu’elle nécessite beaucoup de ressources et que la compétition internationale dans l’industrie est féroce. Cependant, si c’est le parcours que vous avez choisi, une bonne planification et des études de marché approfondies sont requises afin de comprendre quels produits connaitront un succès. Il n’existe aucun rêve trop grand ni aucun obstacle qui ne peut être surmonté. Il faut simplement identifier ses forces et ses limites initiales afin de développer une stratégie réaliste qui permettra d’atteindre ses objectifs. Nous vivons dans une ère remplie de créativité et d’énergie, et cette industrie polyvalente offre de nombreux parcours professionnels intéressants. Il n’en tient qu’à vous! [CJ]

www.canadianjeweller.com

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14k white gold engagement ring with .56ct of round white diamonds, Zeghani, US$2,000; 14k white gold wedding set with .61ct of round white diamonds, Zeghani, US$2,000; 14k white gold wedding set with .26ct of round white diamonds, Zeghani, US$1,700.

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yours

ETERNALLY Like marriage itself, traditional wedding jewellery remains popular – with a few new twists

ust like the world of fashion, the jewellery industry is constantly evolving, transforming and flourishing to produce the most innovative new designs and of course, follow the latest trends.

Yet in the midst of all of these changes, there ís one sector of the market that stands apart from the rest: engagement rings and wedding bands. Serving as a symbol of commitment, an ever-lasting testament to love, and a precious heirloom, wedding jewellery has had, and will continue to have, a reputation for being timeless. SATISFYING THE STRONG-MINDED SHOPPER

At present, jewellery retailers and manufacturers agree that consumers know what they want when it comes to purchasing engagement and wedding rings.

BY IRINA LYTCHAK PHOTO COLLAGE PHOTOGRAPHY BY JOSEPH SARACENO PHOTO COLLAGE STYLING BY HADRIEN LAM SHOT AT RIVE GAUCHE MEDIA STUDIO

going to be purchasing. Nowadays it's not, 'I'm getting married and I need a ring!' They're definitely more educated in terms of metals and colours and patterns." Not only are clients more conscious of the options available to them, they are also coming into stores with already-prepared designs and custom orders. "We're really busy with special custom designs, and that's what keeps us active all year round," says Gil Bishouri, founder and owner of Gee Ní Gee Importers, a fine diamond supplier and custom jewellery designer. "Everyone likes to believe they are unique and different. and that's where we come in with a special service to the industry. And when ladies get engaged to be married, they don't want the same ring as their neighbour or their best friend."

"I find right now that customers tend to come in more informed with what they're looking for and what they want," says Freydi Neuwirth-Traurig, a gemologist at the leading wedding ring manufacturer, Atlantic Engraving Ltd. "[Consumers] have more of an understanding of the jewellery they are

Brand new, sterling silver wedding bands from the ‘Au Masculin’ and ‘And the Band Plays On...’ collections. Available in 10k, 14k, 18k, and platinum from Atlantic Engraving Ltd.

WWW.CANADIANJEWELLER.COM

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0.30ct Passionate Heart™ Canadian centre diamond 14k white gold ring, Hearts & Arrows Collection, Ben Moss, $2,699; 0.70ct Passionate Heart™ Canadian centre diamond engagement ring in 14k white gold, Hearts & Arrows Collection, Ben Moss, $7,499; 0.40ct Passionate Heart™ Canadian centre diamond engagement ring in 14k white gold, Hearts & Arrows Collection, Ben Moss, $3,399.

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Being able to accommodate the specific demands of the clientele is a definite sign of success for any business in this industry. Neuwirth-Traurig works with her designers to come up with new styles that don't just look beautiful on paper â&#x20AC;&#x201C; they are also comfortable to wear and striking when they're brought to life. "The designers will come up with a certain idea or style, and then we would work with the actual engraving team to produce and implement the design," she says. "It's almost like the sketches of the runway designers in Paris. They're nice on paper, and then you have the runway model and then finally, you have the wearable, sellable model without all of the bells and tassels. "There is a lot of teamwork that goes on between the factory and the marketing and the designers to make sure we're coming up with a very sellable item that's still beautiful and different from what is out there â&#x20AC;&#x201C; because that's what people want." Trendy versus traditional

With the engagement and bridal jewellery industry, traditional looks reign over the trends. The saying "a diamond is forever" carries a lot of truth, and it's a direct reflection of the kind of expectations most engagement ring buyers have. "I find that customers are still mainly dominated by traditional styles," says Neuwirth-Traurig. "They are looking for a unique design that's still more traditional. Now they're looking for quality, reputation and representation." "An engagement ring or wedding band is a symbol of [a couple's] commitment and they don't want it to go out of style just as they don't want their commitment to the other person to ever get boring and fade away. They want to be able to say, 'I love this ring and I always want to wear it,' and there's nothing better to symbolize your commitment than something that has true intrinsic value." When it comes to an expensive piece of jewellery, such as an engagement ring or wedding band, people want the piece to still be stylish and wearable in 10, 20 or even 30 years. These types of pieces are also, in many cases, passed down to younger generations and become valuable family heirlooms.

Ring, price depends on alloy selection and does not include centre stone, Luminaire Collection, Scott Kay, $4,510; Ring, price depends on alloy selection and does not include centre stone, Dream Collection, Scott Kay, $2,530.

"When you have a quality product, you can still see the original pattern, the original engraving and the thickness is still there," says NeuwirthTraurig. "You still have a quality product to work with and pass it on, if not as a wedding band, then as a family heirloom.

www.canadianjeweller.com

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| MARCH 2012

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bridalfeature

“I find that customers are still mainly dominated by traditional styles... They are looking for a unique design that’s still more traditional.” "A lot of jewellery today is so over the top. Yet a lot of customers are looking for more value instead—to be able to commemorate special times in their lives like their wedding, and because they want it to last and be beautiful forever." The style evolution

While the clear diamond, usually in a round or princess cut, is still the most requested style for engagement and wedding rings, it's the size of the ring itself that has seen the most change over the years. "Ìn terms of eternity bands, we see people going for higher quality stones," says Neuwirth-Traurig. "I see people tending to want higher qualities, brighter colours, higher clarities in Canada, where this demand is considered more standard than in the States. “Round cut is still number one. Yet size, that didn't change as much, that's still mainly depending on the client's budget. Some are getting the larger size and some are getting just something tiny to go with their engagement ring. In terms of quality, people want the most excellent quality and cut." Gil Bishouri says that today his clients are more interested in lighter and delicate styles, compared to the types of pieces he used to sell in the past. "The styles that we used to produce versus today were much more substantial and heavier, with wider bands and solid shanks," says Bishouri. "A ring could have weighed 15 grams in the past; today, three, four, five grams is considered a heavy piece of jewellery. "People are changing their fashion choices and going for slimmer, daintier and more elegant bridal and engagement rings, and if that's what the market needs, that's what we provide." In terms of the cut of the stone itself, Bishouri also concurs as to the popularity and longevity of the round cut diamond. "The most common that we know are the round and the princess cuts," he says. "However, cushion is very strong as well; we still get a good, substantial amount of orders with the cushion cut, either with five stones or as a centre diamond. Of course, the odd shape, like marquis and pear-shaped, are also requested, though very seldom."

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Male dominance

Another aspect of the industry that many retailers and manufacturers seem to agree on is that these days, men are playing a larger role than they used to in shopping for bridal jewellery and their own wedding bands. The interest and demand for men's wedding bands is definitely on a steady rise. "I would say that my shop and manufacturing here in Vancouver is very busy with the men's line because the demand for men's bands is increasing in numbers," says Bishouri. "Years ago, we used to see that men just needed a plain band. Nowadays, the orders are much more varied, and they're coming in on a daily basis, from jewellery stores across the country." In order to cater to the high demand, Bishouri and his company are constantly coming up with inventive and unique designs for the men's line. "For the men's rings, I have dedicated my company to coming up with a very special and unique prong as well as to use a combination of white and pink gold," he says. "Most of [the rings] are hand-assembled, and we craft every piece to perfection." Neuwirth-Traurig also explains that she has witnessed an increase in the demand for more men's wedding bands in recent years. "Men have always played a huge role in the bridal market, and now there's been a big increase in the men's bands in particular," she says. "I find that men are beginning to choose precious stones and diamonds more often— it's a modest and small yet definitely growing trend." Staying true to tradition

In order to thrive in the bridal market, it's important to be able to follow and adjust to constantly changing trends, while also staying true to tradition, a factor that most retailers and manufacturers are very conscious of. "We're always coming up with something new, something different and a little flashier and trendier," says Neuwirth-Traurig. "At the same time, the majority of what we produce tends to be more on the traditional side— that's what really dominates in the end." [CJ]

www.canadianjeweller.com

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For details, write #125 on Free Info Page, page 112 Atlantic-CanadianJeweller-01-r2.indd 1 CJMAR2012_9671_Atlantic_Engraving_FP.indd 73

The Heart & Soul of Wedding Bands www.atlanticengraving.com 1435 St. Alexander #455 - Montreal, Qc. T: 1 800 267 7823 ~ 514 845 8257 - E: info@atlanticengraving.com

2012-02-02 12:47 PM 2/24/12 1:55:05 PM

TIG-Ritani-CanadianJeweller-2.indd 1 CJMAR2012_XXXX_TIG_Ritani_FP.indd 74

Email: marketing@TIGGroup.ca Web: tiggroup.ca

For details, write #126 on Free Info Page, page 112

Phone: 1.866.682.6823

2012-02-16 11:20 AM 2/24/12 2:00:04 PM

For details, write #127 on Free Info Page, page 112

Phone: 1.866.682.6823

Email: marketing@TIGGroup.ca Web: tiggroup.ca

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2/24/12 2:01:34 PM

newgeneration

RIENDLY AKEOVER The new generation of jewellers is young, ambitious, technologically savvy and respectful of the industryâ&#x20AC;&#x2122;s heritage BY LYNNE SHUTTLEWORTH

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ver the next 5-10 years, the jewellery industry in Canada will see massive change as one generation retires and the next generation—their children and grandchildren, in many cases—takes over. The younger jewellers grew up in different times, they have different attitudes to business, and they’re full of new ideas. As well, because of the way technology connects us all now, they are also interested in working together as a whole rather than being islands unto themselves.

Mode, a jewellery sales and marketing agency in Toronto. He estimates that only about 10 per cent of the new jewellery businesses in Canada are started by younger people who have no family background in jewellery.

“There are awesome people in the industry in Canada,” says Richard Smith, co-owner of Fifth Avenue Jewellers in Kamloops, B.C. “A lot of people are sharing ideas for the benefit of the industry. They don’t have their backs up, and they’re not secretive; there’s a lot more openness than in other industries.”

Mariam Paylan, 28, is the chair of the junior management committee of the Canadian Jewellery Association (CJA). She is also the marketing director of Almer Jewelry, a company started by her father and uncle. Her brother, 25, works with her as operations manager.

Arkarakas is another one of those jewellers who’s been able to build a career in his family’s thriving business. His father started the business, and his mother, Hera, is one of Nouvo Mode’s designers. Arkarakas “grew up” in the jewellery industry.

Smith, who’s 35, works alongside his brother Kevin, 34, and their parents Doug and Lanie, who are in their mid-50s. The parents have started to transition the business over to their sons, with a view to retiring in a couple of years. The Smiths are what might be described as a typical jewellery family in Canada. In fact, most of the young people who are embracing this industry are second or even third generation jewellers who benefit from the strong foundation built by their parents or grandparents. While everyone loves jewellery, not everyone can get into the jewellery industry. It’s a financially daunting exercise that may cost “a few hundred thousand dollars,” according to Aren Arkarakas, the 29-year-old managing director of Nouvo

Kevin and Richard Smith, Fifth Avenue Jewellers Aren Arkarakas and Saro Keciyolu, Nouvo Mode

www.canadianjeweller.com

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| MARCH 2012

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newgeneration Creatively irresistible

As for why jewellery continues to exert an irresistible pull on the young generation, Khamesra says simply that running your own business gives you “more self-fulfillment, and it’s very creative as well as interesting.” That mix of creativity and business is what Arkarakas finds really attractive, too. “It’s another level of being creative and being a business person,” he says. “If you have a good eye for jewellery, and a passion for the business, you should get into it.” “What attracted me to this business is my absolute love of jewellery,” Paylan says. “Jewellery is something that transcends all generations. It’s a creative outlet that lasts a lifetime.” Arkarakas adds that there are “major advantages” to being in the jewellery industry. “You can travel the world and see the way business is done in different countries, and attend trade shows,” he says. The glamour and cachet of jewellery is also a reason to choose this industry. “Jewellery is a luxury.” His partner, 29-year-old operations director Saro Keciyolu, has many family members in the jewellery industry, in the U.S., Turkey and Australia. He enjoys the allure of jewellery as well. “I got into the business because of my passion for luxury goods,” he says. “Originally my background was in IT and business development, which I studied in college. I continued to stay in the jewellery business because of my passion for such a luxurious industry, and as an independent sales agency like Nouvo Mode, we are able to set our own destiny.” Rishabh Khamesra, House of Jewellery

“My brother and I are very different in our skill sets, and we really complement one another,” Paylan says. “Working with family allows you to pool everyone's best talents and skills. I saw this in my Dad and uncle, who served very different roles and continue to serve these different interests… I did not think I would like working in my family's business as much as I do. The business has taught me a lot about myself, and I have developed many skill sets that I didn't even know I had.” Junior jewellers

Rishabh Khamesra, 27, was also “raised in the business” started by his family. He has a BBA from Laurier University, plus a CA designation from KPMG. As well as joining the family business, House of Jewellery, in 2010, he serves as vice-chair on the CJA committee with Paylan. This gives him an eagle’s-eye view of how young jewellers are working with the older generation to preserve the heritage of the industry, and bringing new energy and ideas into it. “Lots of family members are taking over jewellery businesses in Canada,” he says. “They grew up in the business, it has sentimental value, so they don’t want to see it go to a third party. If there are two or three siblings, at least one of them will take over. It makes sense, because the platform is already there; the parents have built it.”

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Smith says that although he started off as a nationally ranked wakeboarder – a sponsored athlete – he gradually decided to stick with the family business, and started by taking courses with the Gemological Institute of America. “I got more involved with the family business,” he recalls. “I just found the whole industry really fascinating and interesting.” Modernization

Since so many younger people are staying with the jewellery businesses their parents and grandparents set up many years ago, what kind of challenges are they facing in keeping up with trends and modern ideas? Khamesra comments that it’s “still an old-fashioned industry that’s not up to date with the times.” While relationships with customers remain paramount for anyone, the online world for some of the older generation is somewhat of a black hole. For example, some catalogues are still exclusively produced in paper and are not online. “Lots of jewellery stores do not have a website and don’t think that social marketing adds any value,” Khamesra says. “With younger customers being very knowledgeable and having no hesitation to do their shopping online, it makes sense for younger jewellers to bring their own online knowledge into the business.

www.canadianjeweller.com

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newgeneration “Most businesses are accelerated to a new level,” says Arkarakas of the influx of young people. “History is very important to a brand or retailer; however, younger people can add new insights…such as how to use social media to take over levels of marketing. It’s a major benefit, and not a compromise.” Smith says the Internet can be instrumental in creating more business. He believes that Fifth Avenue Jewellers has been growing in part because more people see its website and Facebook page. Another change Smith notes that is affecting the jewellery industry is customers becoming more eco-conscious. He cites the example of the Citizen Eco-Drive watch being so popular because it has a solar battery. He and his brother are also interested in transforming their business through bringing in more high-end brands. “We’re a more brand-conscious store now,” he says. “We follow what’s hot….Like Pandora—it’s been huge.” Luxury labels

Khamesra concurs. “There’s definitely a generation gap with older customers,” he says. “The new generation thinks differently. Luxury goods sales have consistently increased, as younger people see more value in that; they want the label. At the same time, they are more practical minded. They may think ‘why should I spend $250 on a silver bracelet when I can buy a $5 stainless steel bracelet?’ They just want to look trendy, and quality is not important. They want more bang for their buck.” With the CJA and Paylan, he is working to help the industry capitalize on the Internet; for instance, by linking to suppliers’ catalogues from the CJA website. “We’re also creating networking events to provide an easier way to get into the industry.” Besides needing to work with the senior people in the industry to uncompromisingly modernize it, the young generation also faces challenges from their younger customers. “It’s tougher to make sales,” says Khamesra. “The competition is the whole world online.” This makes it doubly important to meet customers on their own turf—online—something the new generation of jewellers should be able to do.

Alex and Mariam Paylan, Almer Jewelry

today compared to 10 years ago. It’s important to stay abreast with the times and adapt to the current market demands of the day. At the same time, it’s important to honour the foundation on which the company was built. Sometimes it calls for compromise and at other times, everyone's unique understanding comes together in harmony.” Arkarakas has a lot of enthusiasm for his chosen career path. “I’m 100 per cent staying with the jewellery business,” he says. “I’m trying my best to take it to the next level,” says Khamesra. “The baseline knowledge I have of the industry can work to my advantage.” No corporate ceiling

Paylan has a lot of enthusiasm for joining a family jewellery business. “For people contemplating this, I say, just try it! The nice thing is that you can go as far as you want to go. There isn't a corporate ceiling. You grow into a position of your own making, in time. You get to capitalize on your own strengths, and you get help from the strengths of your family members.” For those estimated 10-20 per cent of young jewellers who are starting from scratch without family roots, Arkarakas points out that it’s a long-term investment of time and money. “There’s no making money immediately,” he says. “It will pay off in the long run, though. I highly recommend our business and market.”

Educational e-blasts

Arkarakas, for one, is using online media to connect with customers. “We’re using Facebook and Twitter as a way to get in front of the younger demographic,” he says. “We send out e-blasts to educate our consumers about what the industry is doing. This does generate sales.”

“What I love about this business is the joy I get when I see the expression on the end consumer’s face when they put on a piece that we've been a part of distributing into Canada,” says Keciyolu. “We are selling dreams, and being a part of that gives me the energy to be the best that we can.” [CJ]

“Some of the challenges stem from having a different generational perspective,” says Paylan. “For instance, we have differing market demands

This is the first story in a series Canadian Jeweller will be running about the new generation of jewellers in Canada. www.canadianjeweller.com

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2/24/12 9:29:44 AM

livefrompolygon

Business Tips Tips for Selling on Craigslist

Sales Tip of the Week

Here’s a sales tip that always works for us, especially on a busy Friday or Saturday. Try adding on to EVERY sale today: ANY SALE today

I have a David Yurman bracelet that I posted on Craigslist. I have had several emails asking if the bracelet is still available. I reply to the sent email saying it is, and get no reply back. Am I doing something wrong? Is my reply not getting to the customer? Any help is appreciated. - Polygon member 89815

Let everyone pick out a favourite item that is affordable on a whim (maybe $250-$500?). Have it near and ask EVERY customer, “Want to see something really neat?” Then don’t wait for the answer, just HAND IT TO THEM. Any sales person who sells these items gets their normal commission PLUS $425 in cold hard cash at the end of the day. - Polygon member 6465

One way to reduce these scams – and chances are, if you get an email that asks, “Is it still available,” it’s a scam – is to protect yourself by adding to your post a short disclaimer. Something along the lines of, “If you see this ad, it’s still available, no need to ask.” Another way is to ask for the responder to include their phone number, or to ask for them to use a “password” that you designate in your ad. Something like, “Please reply with ‘CABLE’ in your email” as an example for a Yurman piece. - Polygon member 3985

That is so cool! I just did a cut and paste and sent to my managers – this is the best advice of the week. - Polygon member 2991

I place the following on all Craigslist posts: “We will not respond to emails due to spam. Please call xxx-xxxx”. - Polygon member 5412

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livefrompolygon

TIPS FOR HIRING THE BEST CANDIDATES

Does anyone have a set of questions already made up when hiring? We have beaten the bushes with friends and acquaintances to no avail and we will have to advertise open positions to the public. We’re looking to fulfi ll one sales and one OTC buying position. - Polygon member 87707 Be sure to ask open-ended questions and listen more than you speak. For example: Tell me about yourself, your last job, a selling experience you are most proud of. This is more effective than closed-ended questions, such as: Are you a good worker? Do you get to work on time? These will almost always get the expected yes answer and will not get the applicant to open up. Avoid age-related questions of any nature, as even asking someone when they graduated high school or college can be construed as age-related, so best to avoid. I just try to follow the 80-20 rule during an interview: the applicants should talk 80 per cent of the time and you 20 per cent. Easier said than done if you are someone who likes to talk a lot! - Polygon member 57335 Number one, you cannot ask any questions to discriminate, and you can’t ask questions that have to do with race, gender or family. I’d chat casually at first and tell them what the position involves. Job duties, hours, required skills, etc.

For a sales position: What got you interested in sales? Tell me about your first sales job — and always ask why they left that job. Ask their ranking with the other staff members in their other jobs. Were they on commissions and or all hourly? If they had a choice, would they rather have a 100 per cent commission job, 50/50 commission or 100 per cent salary/hourly? ALL salary shows less incentive, drive or confidence in themselves. I don’t care if you like it or not, we want to know if they have drive. Ask whether they have participated in turnovers with fellow staff members. Ask about hobbies and if they are members of other organizations. Ask about their toughest sales, closing ratios, their largest/biggest sale. Ask about participation in groups/organizations in school: Scouts or Guides trains discipline and achievement. For an OTC person: They need, of course, to know how to buy. You should be able to interact with lots of questions on how they would buy… Out of 10 people who approach you, from how many people do you BUY stuff ? Ask if in previous jobs they had keys – the ability to handle/count/manage company cash. Where did they learn how to buy? And to finish, have their employment application in one hand, and another completed one in the other (even a fake one your mother fi lled it out) – hold them up and say, “Why should l hire you over this other person I’m considering?” and be quiet while they talk. - Polygon member 6465

WWW.CANADIANJEWELLER.COM

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| MARCH 2012

2/24/12 9:48:47 AM

rosy

rosegold

18kt rose gold ring with 4.57ct diamonds from Nova Diamonds

future With the popularity of this precious metal still climbing, rose gold could be the next big thing By Irina Lytchak

or years, the jewellery industry has seen rose gold take a back seat to other, more prevalent precious metals such as yellow gold and white gold. Now, after becoming more readily available to the average consumer, and with a recent and steady rise in demand in the engagement and wedding rings sector, rose gold has secured a strong place for itself. In fact, its popularity does not show any signs of dissipating in the near future. “Ready Mounts does a lot of rose gold, and it’s been quite popular this year,” says Edith Myslicki, owner of Ready Mounts and Victoria Fine Jewellery. “Fancy colours like pink gold are never going to be predominant, though

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they’ve always been around because they’re an accent that makes a piece a little bit more unique.” Myslicki is no stranger to accommodating the demands of her clients and to staying on top of the latest global jewellery trends. She says that her manufacturing company, Ready Mounts, does a lot of work with rose gold and saw this precious metal a lot more throughout 2011. “You can open up a magazine or go into any designer sites right now, and you’re going to see a lot of rose gold, more than what we’re normally used

www.canadianjeweller.com

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For details, write #128 on Free Info Page, page 112

866.366.BOMA (2662) bomajewelry.com/puresilver

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rosegold

to seeing,” Myslicki says. “That’s why we produce whatever our clients are asking for in rose gold – whether they’re asking for bands, pendants or anything else.” Tony Malo of Malo Creations, specializing in traditional and contemporary wedding bands, also says his business has been creating a large assortment of rose gold pieces for his clientele. He’s seen a slight increase in the demand for this metal over the past few years.

14kt rose gold and diamond necklace from Stuller

“Rose gold has always been only one part of a jewellery piece; it was never really a colour that was used on its own,” says Malo. “Yet lately, in the last two years, there has been more of a demand for rose gold, specifically for all-rose-gold jewellery.” More style options

Myslicki says one factor that has added to an increase in the popularity of rose gold is a boost in its availability to retailers and consumers alike. “Before, rose gold parts were really hard to find, and now I can see that it’s a lot more accessible,” she says. “There is a lot more selection today because suppliers have introduced more style options in things like rose gold chains. “And in terms of repairs, before it was so hard to find a clasp or a butterfly for earrings, and now there are entire series of parts being produced. Nowadays, if you open up a catalogue, there is so much available in rose gold that you could never get before.”

18kt rose gold pendant with 174 round cut, 2.21ct diamonds from Nova Diamonds

Mixes well with others

While jewellery pieces that are entirely made of rose gold are on a steady rise, it’s the combination pieces, intermingling rose gold with other popular precious metals, especially in engagement and wedding rings, that have been the most fashionable. “A lot of people are asking for platinum and rose gold ring combinations,” says Myslicki. “If we’re doing an engagement ring, it’s very unlikely that the customer is going to want it all in rose gold. But we do get people who really want to be ‘in’ with the trends and have something very unique that they’re not going to find everywhere. That’s when we’ll make them a platinum engagement ring with certain accents of the pink gold in it.”

18kt white gold with 0.85ct diamonds wedding band surrounded by 14kt rose gold borders, all from Ready Mounts

Malo is also accustomed to creating combination pieces that fuse pink with white and yellow gold for his clients. “When it comes to engagement rings, people really appreciate the nice contrast between the rose and the white,” he says. “We’ve made rings that were white [gold] and the prongs would be pink or the area around the band would be in pink gold. Even with bracelets, we’ve created three-toned

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www.canadianjeweller.com

2/27/12 3:15:22 PM

For details, write #129 on Free Info Page, page 112 CJMAR2012_8950_Mirage_Nova_FP.indd 85

Finished Jewellery & Loose Diamonds Nova Diamonds Inc. 221 Victoria St. Lower Level Toronto, Ontario, Canada, M5B 1V4 Phone: 416-868-6682 Fax: 416-868-0666

2/24/12 1:32:32 PM

rosegold

Wedding band available in 10kt, 14kt, 18kt and platinum from the signature ‘Malo’ Collection from Malo Creations

pieces with white, yellow and pink gold. This way, the pink doesn’t dominate the piece. It adds a lit bit of extra taste to it.” Not a guy thing

Although rose gold dominates on some levels in the jewellery market, it’s still not quite a leading metal when it comes to the male population. “[Pink gold] is a bit more feminine, and that’s probably why it’s not as popular with the men,” says Malo. “Even if you look at the ads and all of the products that are pushed, it’s the least one that’s pushed. So obviously, if a product is not pushed into some market right away, you can’t really expect the consumer to be aware of its availability. “I think that whenever rose gold men’s rings are asked for, [the consumer] either did a lot of research online or they really went through a lot of pictures and websites and finally came to the conclusion that they like the pink. And they asked for a specific ring to be made in pink.” Myslicki adds that although she’s received requests for accents of rose gold with men’s and women’s rings, at the end of the day, this type of metal is really more suited to women’s jewellery.

Retailers and manufacturers say rose gold has been more favoured by the younger age demographic because of their openness to new fashion and jewellery trends. “I see the younger customers, between 20 and 35, tending to go more toward using pink [gold],” says Malo. “They’re more open to change, and it’s easier for them to accept a pink gold piece than someone who’s a bit older, who associates the colour yellow with gold.” “I’m finding we have been doing a lot of pink gold pieces for a younger crowd,” says Myslicki. “It’s the younger crowd that’s reading all of these fashion magazines and seeing a lot of these new trends.”

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Pink clouds on the horizon

Although this precious metal has an unwavering tendency to fall in and out of trends as times change, it’s clear that it is never going to fully dominate the jewellery market. One thing is for certain, however: rose gold will maintain a solid spot in this industry for as long as it takes. “I’m very confident rose gold is going to be around,” says Myslicki “I have a feeling that it’s even going to be more popular next year— because usually what happens with anything that’s newly introduced and more designers are starting to use it, is that after a year or two, everybody is in on it.” [CJ]

ROSE GOLD JEWELLERY ADVERTISERS IN THIS ISSUE

Young at heart

Myslicki explains that rose gold is rarely found in stores dealing with lower-end products and is instead retailed more often in city centres, such as Yorkville in Toronto, and many custom jewellery stores. She agrees that rose gold has become an easy target for the younger age demographic, as they are the ones who tend to stay on top of the latest and most mainstream styles.

Atlantic Engraving 514.845.8257 www.atlanticengraving.com

Lega Jewellery 514.845.0066 www.legajeweller.com

Stuller 800.877.7777 www.stuller.com

Boma 800.667.7106 www.bomajewelry.com

Malo Creations Inc. 416.682.6561 www.maloinc.ca

TIG Group 866. 682.6823 www.tiggroup.ca

Creation Le Grenier 888.388.4736 www.ethanstars.com

Midas Jewellery 416.955.9415 www.midasjewelleryinc.ca

United Precious Metal Refining Inc. 800.999.FINE www.unitedpmr.com

E.R.L. Diamonds 604. 677.0703 www. canadapridediamonds.com

Mirage Creations/ Nova Diamonds 877.BY MIRAGE www.miragecreations.com

Kim International 800. 275.5555 www.kimint.com

Ready Mounts 416.366.4046 www.readymounts.com

www.canadianjeweller.com

2/27/12 3:15:56 PM

Not Just Any Diamond in the Rough

JVC’s 16th Annual Golf Tournament, Dinner & Silent Auction Join us and play the north course, which tested some of the world’s finest golfers during the 2002 Bell Canadian Open.

Monday, June 18, 2012 at the Angus Glen Golf Club in Markham, Ontario

For details, write #130 on Free Info Page, page 112

For more information, contact: Carla Adams 416-368-4840 or info@jewellersvigilance.ca

Jewellers Vigilance Canada An independent, non-profit association to advance ethical practices within the Canadian jewellery industry.

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2/24/12 2:04:13 PM

jvcfeature

Removing

temptation Setting up the right policies and procedures can help you prevent losses from employee theft BY JOHN LAMONT

When we think of inventory control, we often do not make the link between loss prevention and good inventory control practices. John Lamont, JVC Director of Crime Prevention, explains how good practices are key to loss prevention. ~ Phyllis Richard, Executive Director, JVC

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WWW.CANADIANJEWELLER.COM

2/24/12 10:47:51 AM

For details, write #137 on Free Info Page, page 112

For over thirty years, the Western Canadian Jewellery Expo has showcased the latest trends, packaging, equipment and technology for the jewellery industry. In one of the best economic regions in North America, the Expo is considered to be the top writing jewellery show in Canada. Contact us for exhibiting, and participation in our new Design Centre!

Shaw Conference Centre – Halls B & C Edmonton, Alberta August 17 – 19, 2012 inquiries@wcjexpo.com or ulliaclt@shaw.ca – 780.467.9549

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www.wcjexpo.com

2/28/12 11:05:27 AM

jvcfeature

endor frauds, shipping mistakes, distraction thefts, diamond switching and internal theft are of some of the issues that can cause inventory nightmares. Proper inventory control policies and procedures are methods that reduce these losses. Let’s discuss something nobody wants to think about: employee theft . Retail industry experts say 10 per cent of employees will never steal from their employers; 10 per cent will steal inventory, time or supplies at any opportunity; and 80 per cent are influenced by policies, procedures and supervision. These numbers are apocryphal and have no hard data source that can be found. They are most often used to illustrate the fact that many employees can be tempted to steal when a company does not have workable policies and procedures or adequate supervision. That situation can leave wide open the doors of opportunity—after all, deviant behaviour requires motivation to steal, access and opportunity.

WHOSE MISTAKE?

Shipping and receiving errors can cause inventory shortages. Many jewellers have shipped merchandise to another store, vendor or repair house only to have the receiving company call and tell them not all the items listed on a manifest are in the package. Th is always ends with one person stating, “I put the item in” and the other insisting it was not in the package when it was opened. Both sides should have systems in place to verify their positions: • The company shipping should have all items shipped verified by a second person. • The person receiving merchandise should also have a second verification. • Either another person or the opening of packages can be recorded on video. This video should clearly show items being removed from the package. • The receiving or shipping area should be isolated from any other activity. • Employees completing the shipping process should check off each and every piece to ensure they are receiving the proper item they have been charged for.

CLOSED-DOOR POLICY

The reality is that stores with good policies, procedures and supervisors have very little employee theft. That’s because the doors of opportunity are kept closed, and if theft does occur, it can be quickly identified. In a perfect world, employee theft would never happen. Policies and procedures need to be put in place to minimize the potential for theft. Understanding how to recognize and deal with this type of deviant employee also helps other employees when they suspect dishonesty. A good inventory case count program that is adhered to by all will go a long way to deter employee theft, reducing the opportunity and motivation for such deviant behaviour. Employees will quickly realize the loss will be found almost immediately, and the chances of their being caught are much greater. KNOW YOUR EMPLOYEES

One of the first steps to prevent inventory loss through employee theft is to know your employees and the history of potential employees. The best way to prevent staff from stealing is to not hire dishonest people. This means paying close attention to hiring procedures. For example, most loss prevention experts recommend that employers run background checks for criminal records and credit reports, as well as checking references with previous employers. Most thieves have stolen from previous employers prior to discovery. Therefore, it is important to detect anything questionable. If time is an issue, or if an employer does not have the people to dedicate to this task, background checks can be outsourced to a company that specializes in this service.

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As an example, if you were shipped 20 items from a vendor and your employee physically counted 20, that does not mean they received the item you have been charged for. Instead of a one-carat diamond you have been charged for, you may have been sent a half-carat. PACKAGE CRIMES

There have been many reported incidents where courier or postal employees have slit a package open, removed an item and resealed the package. When receiving a package, the box or envelope should always be checked for tampering. A case in point: a JVC member in Ottawa was shipping a large amount of merchandise back to a vendor by way of a major courier company. When the package arrived, the vendor opened the box and checked off the merchandise against the manifest. They found that $36,000 in product listed on the manifest was not in the package. The vendor contacted the jeweller and advised them of the discrepancies. The jeweller was adamant that they had put that product into the box. When the empty box was recovered and examined, it was found that one end of the box had been slit open and then resealed. On its website, JVC’s partner, Jewelers Mutual Insurance, has very good, detailed instructions on how to ship jewellery safely. None of us want to think our employees will steal. Your job is to create an environment through good inventory control where honest employees can do their job and celebrate the success of their contribution to your business. This is a key component of loss prevention. [CJ]

WWW.CANADIANJEWELLER.COM

2/24/12 9:55:14 AM

For details, write #134 on Free Info Page, page 112 CJMAR2012_9700_United Precious Metal_FP.indd 93

2/24/12 1:56:33 PM

metalrefining

Mania

High gold prices have led to several spinoffs in the jewellery and refining industries BY NIKKI FOTHERINGHAM

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metalrefining

weaker dollar has sent gold prices rising once more in 2012. Gold’s consistent performance makes it a desirable commodity, as it has persistently provided the best returns over the last five years. This has prompted banking denizen Goldman Sachs to tip the precious metal as a safe future investment. The meteoric rise of precious metals was presaged by the continuing economic crisis in Europe and low U.S. interest rates.

it seems, is taboo. Aside from the regular cache of jewellery and gold coins, gold buyers in the U.S. are reporting a sharp increase in the number of gold teeth, crowns and bridges that are making their way onto the market as the cash-strapped populace attempts to find temporary relief in a difficult financial time. FRENZIED SELLING

Goldman Sachs confirmed the continuation of gold’s 11-year streak of steady gains as investors seek safe haven between two bear markets. Gold’s stellar performance is due in no small part to large purchases by China, continuing uncertainty in the Middle East, Europe’s looming debt crisis and continuing U.S. financial woes. In a statement, the bank said: “As we expect that gold prices will continue to be driven in large measure by the evolution of U.S. real interest rates and with our U.S. economic outlook pointing for continued low levels of U.S. real rates in 2012, we continue to recommend long trading positions in gold.” Goldman Sachs is confident that gold will continue to gain traction in the markets, with a three-month forecast (at time of writing) improvement of 7.0 per cent to $1,760 a troy ounce from $1,645 per ounce. The six-month forecast looks equally rosy, with a predicted 5.8 per cent increase to $1,830 per ounce. The 12-month forecast sees gold gaining 3.8 per cent to $1,930 per ounce. Morgan Stanley predictions are equally optimistic, setting gold’s price at a record $2,175 U.S. by 2013.

So popular has the consumer trend of selling gold become that Tupperwarestyle house parties are becoming a popular new option for those marooned in suburbia. At these events, local residents get together and invite a gold buyer to evaluate their gold items and provide cash payouts on the spot. Gold can also be sold through various Internet buyers and even through snail mail. Much of this frenzied selling is fuelled by high unemployment rates and mounting debt. Kamal Hanna from 24 Gold Group says: “We have seen an increase of people bringing gold items in to sell. The whole process is done in front of the customer.

NO TABOOS

As gold prices rise, people affected by the financial crisis and desperate to liquidate assets have been cashing in. Anything and everything that’s made of gold is being sold to the gold buyers that have sprung up everywhere. Gold buyers are experiencing a sharp increase in the number of people who bring in gold items and jewellery to exchange for cash, and nothing,

Smokecloak Instant Protection for Jewellers Now that you have negotiated great insurance premiums, chances are your deductible has risen. What is protecting that deductible? Smokecloak will help you remain claim free! Install SmokeCloak® and within seconds of a break-in, the protected area is filled with an impenetrable cloud of fog. This provides an effective barrier and forces the intruders to leave the premises. We are CETL certified • Meet CANASA Guidelines • Fire Marshal Approved • Carry a Worldwide Insurance Policy • Offer Discounts to CJA Members • Can Be Installed Into Premises With ULC Certificated Alarms

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| MARCH 2012

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metalrefining

Items are analyzed for gold content, and weighed, and then the customer is quoted the very latest in gold prices. They walk in with gold and walk out with cash. It makes them really happy.” UNPREDICTABLE SPINOFFS

An increase in the price of precious metals has many spinoffs—some less predictable than others. Thomas Jansseune from Imperial Smelting and Refining (part of the Umicore Group) says his company has seen a reduction in demand for the semi-finished products they supply to the jewellery industry. The higher prices of gold and austere economic times have resulted in a decrease in jewellery product sales. Jewellers are currently experiencing a drop in demand for gold, as high gold prices make it unattainable for many buyers. Instead, silver and other materials are seeing an increase in sales. Leaders in the jewellery industry must therefore come up with new solutions in an effort to diversify the products on offer and keep certain price points, he says. In addition to pure gold ring tubes, for example, Imperial now manufactures a dual tube ring with a silver inner tube and gold outer layer. These bimetal products make jewellery more affordable, and are an opportunity for innovative design. PLATINUM CATCHES UP

Jansseune also notes the ever diminishing gap between platinum and gold prices. The metals are becoming more equitable in value, and this should make platinum a much more viable option for those who wish to purchase precious metal jewellery. “Gold and platinum are remarkably close in price, yet demand in platinum has yet to increase as buyers stick to traditional choices,” he says. Imperial is, for the most part, immune to the day-to-day fluctuations in price being experienced by small and medium-sized jewellers as they hedge themselves in the financial market against such fluctuations. Jewellers are not as lucky; their exposure to the whims of the metals market can see them post gains and losses that are difficult to predict.

As demand for jewellery decreases, Jansseune suggests that jewellers diversify by offering a gold buying service to customers. Sellers would prefer to use a trusted name in the jewellery business, and jewellers already have the prerequisite expertise. Most jewellers are already vetted by governing bodies and associations in the industry. Capitalizing on the increase in gold prices by offering gold-buying services will mean they have a steady income regardless of the price fluctuations of precious metals. EASIER TO BE GREEN

Another unexpected spinoff of the increase in gold prices is the improved sustainability of the industry. As gold prices soar, items that were previously uneconomical to recycle have become lucrative sources of income. Gold plating used in electronics and other industrial applications is being recycled and refined, a process that reduces waste and negative impact on the environment. United Precious Metals Refinery supports environmentally responsible refining, and its business has also seen a large increase in volume— which has led to greater profitability. “Gold markets can now f luctuate $50 a day,” says spokesman David Siminski. “Anybody buying metal should work with a refiner that provides them with the ability to lock in metal as they purchase it so they are not exposed to the wild swings in the market and could lose what profit they make in a matter of minutes.” Impacts, both positive and negative, of the high gold price are being felt by all in the industry. Predicting future gold prices can often be nothing more than a guessing exercise; many in the business do concur, however, that it is a great investment for the foreseeable future. Kamal Hanna agrees that the indomitable march of gold will continue, and advises reticent investors to strike while the iron is hot, “If you have money, you should be investing it in gold, silver or platinum,” he says. [CJ]

LOCK IN PRICES

Larger refining companies such as Imperial do offer their customers a service that can reduce their risks. Customers who trade in large volumes can lock in their prices for limited periods. This allows a jewellery supplier to offer products at a fixed price for special occasions and holidays. It also enables the “cash for gold” buyers to amass their gold until they have a sizable cache. It means that, for example, gold they bought on a Monday is still worth the same amount when they take it to the refiner on Friday, reducing the risk of loss, should precious metal prices drop sharply.

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Umicore Group’s innovative silver and gold tubes

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3/1/12 10:21:48 AM

For details, write #135 on Free Info Page, page 112 CJFEB2012_The_Bullion_Mart_ad.indd 1

2/24/12 2:11:15 PM

companyprofile | malocreations

The Perfect Match

Malo Creations uses technology to market “modern classic” wedding bands BY JESSICA UNIAC

he secret to any successful company is that before you jump into a market, you need to first understand how it works. Because Habib Malo recognized and appreciated this secret, he spent three years learning about the jewellery market after moving to Canada in 1980 from Istanbul. And in 1983, after deciding he was ready, Malo Creations emerged, becoming what is now a third-generation jewellery business. With the philosophy of fully satisfying its customers, Malo Creations strives for top-quality products and impeccable service. Serving independents and some of the major jewellers in Canada and the U.S., the people at Malo Creations have to be at the top of their game, and unique from their competition. “The technology and the know-how to be able to create [makes us unique] because we really spend a lot of time and money on research and development, and I can say we’re leading when it comes to developing something new in the market,” says Malo.

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malocreations | companyprofile

Technology advantage

There are always struggles and challenges with any business, and Malo Creations is no different. “Our biggest challenge is when you open your doors to the States, we had to really come up with software that could control the growth. And in the last four years we have put a lot of time and energy into state-of-art software that controls everything – starting from the design to the manufacturing, the last point. And at any given time, with the B2B, the customers can follow their orders on the Web and see which stage they are at, and that is also part of our software,” says Malo.

Habib Malo, president of Malo Creations

It is no surprise that there have been changes in the company over time. It is also smart, especially nowadays with all the advances, that one of the biggest changes was making use of new technology. Malo says, “The change is that we are really open to any technological developments, like the machines that we have in house, and we keep looking for something new and adding it. That has really given us a huge edge over the competition.” Offering its customers a selection of both traditional and contemporary wedding bands, Malo Creations continues its family tradition of crafting high-quality jewellery. Malo leads his design team, travelling to Europe, Asia and the U.S. and bringing back the latest trends and adapting them to their collections. Each Malo piece is distinguished by its fit and workmanship, and Malo’s designers and premier jewellers can adapt any model with an individual’s wishes and inspiration. The demand for wedding bands and engagement rings is strong, with more than 85 per cent of the demand being for white gold. “Yet lately, we are slowly seeing the two-tone coming back. White gold was always, in the last five to six years, dominant. Right now, we are slowly seeing two-tone coming from Europe,” says Malo. Always desirable

One thing Malo says will never change is the desire for gold and diamonds: “Gold and diamonds will always remain strong. Definitely the diamond is number one in terms of gem demand, and as a metal, and as much as the price is going up, it’s still gold. It’s the most desirable precious metal.”

When looking at styles that are the most popular, Malo says, “I will always say the classics. That’s really remained number one, especially the wedding bands. And besides that, we try to add some lines and decorate them a little bit more, yet overall, we call them the modern classics.” Malo is also very excited about their new and very unique Mardini collection: “The demand and reception from the customers is really very good and it sells. That’s really what’s exciting us.”

The dedicated staff of Malo Creations; (from left) Angela Chirico, Erika Katsof, Marie-Josee Plouffe, Michel Abboud, Tony Malo, Joseph Malo, Sylvia Tellalian, Mayda Kutnerian, Touli Vountas

After being in business for almost 30 years, Malo Creations has big plans for the future. “I would say that in the next five years, we’re really going to be the leader in North America, not only Canada, because we’re taking that road,” says Malo. “We really understand our competition, and we accept it, and hopefully we’re going to be able to surpass everybody.” [CJ] www.canadianjeweller.com

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| MARCH 2012

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To exhibit, please contact Sales Department, Jewellery Fairs, UBM Asia Tel: (852) 2585 6179 / 2516 1677 Fax: (852) 3749 7319 Email: salesjgf-hk@ubm.com

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SCHINDLER TECHNOLOGIES CORPORATION www.schindler.ca • GOLD • YELLOW • WHITE • PINK • GREEN • STERLING • BRONZE

• PALLADIUM • PLATINUM • SILVADIUM • S-STEEL • PRESETS • MOLDS • ALLOYS

ALLOYCO INTERNATIONAL INC.

CALL TOLL FREE 1-888-475-5384 Phone: 514-845-5384 • alloyco@alloyco.com • www.alloyco.com 55 Mont Royal W., suite 600, Montreal, Quebec, Canada, H2T 2S6

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info@schindler.ca 1-888-688-6835 905-927-1166

Armandor Enterprises Inc. New Tel: 416.642.0280 New Fax: 416.642.0281 New Email: info@akbgold.com New Website: www.akbgold.com New Address: 107 Church St. Unit B1 Toronto, Ontario M5C 2G5

New Location in the heart of Downtown Toronto! Now Offering Casting Services

WWW.CANADIANJEWELLER.COM

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ExprEss Gold rEfininG ltd. YOUR L PRECIOUS METALS DEALER

Express Gold Refining has acquired the latest Assaying technology to provide you with the fastest and most accurate results. We guarantee to settle your GOLD, SILVER, PLATINUM and DENTAL scrap in less than an 1 hour of receiving it. We will return to you gold bars, silver, platinum or buy your metal at the most competitive market prices.

Express Gold Refining is YOUR PRECIOUS METAL DEALER OF CHOICE.

All that’s left is your imagination.

Please visit our website for the latest up-to-the minute prices in the Canadian Market.

http://www.xau.ca

400 - 215 Victoria St, Toronto, ON M5B 1T9 Phone: 416.363.0584 | Toll-Free: 1.888.401.1111 Email: info@xau.ca

IMPORTERS OF WHITE AND NATURAL, FANCY COLOURED DIAMONDS (ALL GIA CERTIFIED). WIZMAN GEMS International Limited 27 Queen Street E., Suite 1403, Toronto, Ontario M5C 2M6 Tel: 416-360-8828 info@wizmangems.com

Insurance for Customers Jewellery

www.canadianjeweller.com

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| march 2012

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Award Ceremony & Reception

2012 CATEGORIES 1. DIAMONDS & COLOURED DIAMONDS: Any piece of jewellery that puts diamonds or coloured diamonds in the spotlight. Each design must have a minimum diamond content of 1 carat. 2. CANADIAN DIAMONDS: Entries must feature Canadian diamonds and be accompanied by certification attesting to each diamondâ&#x20AC;&#x2122;s Canadian origin. Smaller accent stones need not be Canadian. 3. PEARLS: The central design element in these entries must be natural pearls. Other gemstones and diamonds can be used as accent stones. 4. PLATINUM: The overall metal content of these designs must be a minimum of 75 percent platinum, but any combination of gemstones and gold may be used. 5. COLOURED GEMSTONES: These entries, which must feature coloured gemstones as the central design element, will be judged on creativity

To find out how you can become a sponsor of this prestigious event, please contact Olivier Felicio at olivier@rivegauchemedia.com or call 416-203-7900 X 6107. For complete details on how to enter your designs, contact Melanie Seth at melanie@rivegauchemedia.com or 416-203-7900 X 6114. Entry deadline is July 7th, 2012, 5 p.m.

*Enter online as well at www.canadianjeweller.com

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ENTER CANADIAN JEWELLER’S EXCELLENCE IN DESIGN COMPETITION DESIGNER ’ S NAME

COMPANY OR STUDENT AFFILIATION

ADDRESS

CITY

PROVINCE

POSTAL CODE

PHONE

FAX

EMAIL ADDRESS