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july 2015
south african jewellery news
The industry's only trade journal
Your guide to gemstone deposits of the world South African economy continues to punch above its weight Watch industry enthusiastic about this year’s Jewellex Africa
Purveyors of precious metal and ďŹ ne jewellery.
24carat.co.za the new luxury online boutique out of Africa where you can buy pure gold, platinum and silver minted bars, certified diamonds, medallions and exquisite bespoke jewellery, with exclusive access to a team of distinctive contemporary designers, bringing your vision to life. Brought to you by Metal Concentrators (MetCon), Pioneers in Precious Metals - SA’s largest independent precious metal refinery. For more information call (021) 510 0770, email melynda@metcon.co.za or sam@metcon.co.za or go to 24carat.co.za. Join the conversation on Twitter: @24ctZA #OutofAfrica and facebook.com/24ctOutofAfrica
Editor: Adri Viviers Tel: +27 (0)11 883-4627 Cell: 084-261-1805 E-mail: sajewellerynews@isikhova.co.za Watch Editor: Alice Weil Tel: +27 (0)11 880-1680 Cell: 083-266-9182 E-mail: aweil@mweb.co.za Advertising Sales: Linda Stock
c ntents
Cell: 081-065-7322 E-mail: adsales@isikhova.co.za
8. News
Advertising Sales Representative (India):
• Jewellery Council Collection Awards Jewellery Design Competition
Bhupal Potdar Cell: 91-982-115-1035
• AWDC and Diamond Administration of China sign Memorandum of Understanding
Email: bhupalpotdar@gmail.com Advertising Sales Representative (Hong Kong): Maud Errera
• Christie’s leads auction market in Hong Kong with sales of US$417,6 million
E-mail: maud@lni.com.hk Designer: Joanne Brook Copy Editor: Anne Phillips
• CIBJO President lectures business school graduate students about corporate social responsibility in the jewellery sector
Subscriptions & Accounts: Thuli Majola Tel: +27 (0)11 883-4627 Fax: +27 (0)11 783-2677 E-mail: subscriptions@isikhova.co.za Distribution: Ruth Dlamini and
18. MARKET CONDITIONS South African economy continues to punch above its weight
22. JEWELLERY AFRICA 2015 Watch industry enthusiastic about this year’s show
• International Colored Gemstone Association elects new Board of Directors
Direct Marketing Solution
SA Jewellery News is published by: Isikhova Publishing & Communications CC, PO Box 651793, Benmore, 2010, Johannesburg, South Africa. 27 Panners Lane, Riverclub, Sandton, South Africa. Website: www.isikhova.co.za Chief Executive Officer: Andrew Meyer E-mail: andrewm@isikhova.co.za Chief Financial Officer: Imraan Mahomed E-mail: imraanm@isikhova.co.za Printing: Colors Banking Details: Isikhova Publishing & Communications CC Bank: Standard Bank, Sandton, South Africa Branch Code: 01-92-05 Current Account Number: 4209 6822 9
14. USEFUL INFORMATION Your guide to gemstone deposits of the world
24. BRAND MANAGEMENT
16. BRAND HISTORY
• Inspired by plant structures
The importance of being Astron
• Loris & Loris Paris unveils Joanne, Ginza and Claire • Trendy to sophisticated from Pierre Lannier • Saint Honoré celebrates Paris • Inspired by the portholes on transatlantic yachts • The Marie Antoinette collection
Official Journal of the Diamond and Jewellery Federation of South Africa. Website: www.jewellery.org.za
The meticulous work of JAR
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SOUTH AFRICAN JEWELLERY NEWS
JULY 2015
The views expressed in this publication are not necessarily those of the owners and the Diamond and Jewellery Federation of South Africa, its members, the publisher or its agents. While every effort has been made to ensure the accuracy of its contents, neither the owners and the Diamond and Jewellery Federation of South Africa, the editor nor the publisher can be held responsible for any omissions or errors; or for any misfortune, injury or damages which may arise therefrom. The same applies to all advertising. SA Jewellery News© 2015. All rights reserved. No part of this magazine may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage retrieval system, without prior written permission from the publishers. ISSN 1817-5333.
28. LITTLE GEMS
The industry's only trade journal
Your guide to gemstone deposits of the world South African economy continues to punch above its weight Watch industry enthusiastic about this year’s Jewellex Africa
On the cover In 2014, Bell & Ross presents the BR 03-94 CARBON ORANGE, designed especially for professionals working under extreme conditions who require optimum legibility in all circumstances. As in aircrafts' cockpit instruments, and to facilitate the reading of short periods of time, a touch of orange contrasts with the matte black to highlight all the indications relating to the chronograph function.
SA JEWELLERY NEWS – JULY 2015
brilliance of nature
tel: +27 11 334 3400 fax: +27 11 334 3407 e-mail: rez@mweb.co.za website: www.capestardiamonds.com address: SA Jewellery Centre, 4th Floor, Suite 426, 225 Main Street, Johannesburg, South Africa
NEWS
Categorising 3D printing for jewellery sector 3D printing has revolutionised the jewellery industry in the past decade. Its speed and productivity have improved significantly and it really does allow jewellers to take on many more projects. “3D printers suitable for printing in the jewellery industry can be loosely categorised as follows: printers using a jetting process to build the model and printers using a photocured polymer resin to create the models,” explains Nic Klopper, Commercial MD of Rapid 3D and Build Volume, a company which supplies 3D printers, CAD software and runs a 3D print bureau service for
various industries. Rapid 3D supplies machines ranging from studio machines to high-volume production machines capable of running hundreds of pieces in a single build. Printers based on jetting technology typically print using two wax-based materials, one for the model and another for the support structures. The support structures are then removed by dissolving them in a heated liquid. Jetting technology can be slow if using a vector-based approach and while the quality of models is typically good, they tend to be very fragile and need to be handled carefully. “Castability
is generally good. Running costs on this technology tend to be high,” adds Klopper. Printers using resin materials use the same material for both model and supports, which are cut away after printing. Post-processing is quick and easy, with models being washed in a solvent after printing and then put into a light box for additional curing, prior to casting. Models require higher burnout temperatures and longer cycles. “Generally, these printers are substantially faster than those using jetted material and are capable of high production volumes. In addition, they can print in multiple materials, including those suited to printing mould masters, as well as stone in place castings,” says Klopper.
nomic and political delegation led by Shanghai Party Secretary and former Mayor of Shanghai Han Zheng. The Investment Forum aimed to follow up on the official visit to Shanghai by Antwerp Mayor Bart De Wever, in collaboration with the Port of Antwerp and the AWDC, in October last year. The wide-ranging agreement will oversee
the bilateral exchange of information about market and industry trends, jointly promoting and supporting Belgian and Chinese diamond trade and investments, as well as developing marketing initiatives to drive the sale of diamonds and diamond jewellery. Both the AWDC and the DAC will specifically support HRD Antwerp’s activities in China.
AWD and DAC sign MoU The Antwerp World Diamond Centre (AWDC) and the Diamond Administration of China (DAC) have signed a Memorandum of Understanding (MOU) which aims to reinforce co-operation between the two diamond centres. The MOU was signed during the AntwerpShanghai Investment Forum which took place in Antwerp from 3-4 June, attended by an eco-
International Colored Gemstone Association elects new board The International Colored Gemstone Association (ICA) has released the names of its Board of Directors following the organisation’s board meeting at the conclusion of the 2015 Congress. ICA President Benjamin Hackman was re-elected for a second two-year term, while the ICA’s two Vice-presidents are Damien Cody and Santpal Sinchawala. Newly elected to the board are Gabriel Angarita from Colombia, Stephan Reif from Austria,
Alice Muthama from Kenya, Warren Boyd from Canada, Jeffrey Bilgore from the USA, Suttipong Dramrongsakul from Thailand, Capt Ramji Sharma and Mazaru Mizumura from Japan. Directors continuing their terms are Ehud Harel from Israel, Duncan McLauchlan from the UK, Xianjin Yu from China, Bruce Bridges from the USA, Philippe Scordia from France, Nirmal Kumar Bardiya from India, Vijay Kedia from India, Shirley Zhang from Hong Kong,
Rakesh Jain from Hong Kong, Marcelo Ribeiro Fernandes from Brazil, Pavel Sokolov from Russia and Gamini Zoysa from Sri Lanka. Retained on the board as immediate Past President is Wilson Yuen from China, while special advisors are Jean Claude Michelou, directing ICA communications and ambassadors, Clement Sabbagh, directing the ICA Congress and Noburyuki Horiuchi, overseeing implementation of the ICA’s disclosure codes.
Isikhova Publishing & Communications ©
Transform the way you make jewellery
Tel: 010 594 4644 / 0861 000 185 • E-mail: jewellery@buildvolume.co.za • Website: www.buildvolume.co.za
Cape Watch Tools & Jewellery Supplies welcomes Rochelle Lyle Cape Watch Tools & Jewellery Supplies (Cape Watch) has recently welcomed Rochelle Lyle to the company. Lyle brings with her extensive knowledge and experience in the diamondcutting and polishing industry. “Rochelle’s strengths are undoubtedly technical advisory capacity and sales and we’re all very excited to welcome her to the team,” says Tennille Hoge of Cape Watch. Cape Watch’s history dates back to 1962, when it was a wholesaler of tooling and parts to the watch industry, but adapted quickly to the cyclical downside in the late ’70s, when the Japanese quartz movement superseded mechanical watch servicing and parts replacement altogether. Traction was gained in the emerging jewellery and diamond industry by 1989. Today, Rodger Browne and Hoge are partnered together, having identified technology as instrumental to productivity and therefore profitability. “Lampert’s latest offering in the Puk 4.1 is selling well and, alongside it, abrasives and polishing compounds imported from Japan. Lapping and polishing machinery are new arrivals, with engraving, setting and cutting machines all now being offered to the watchmaker, jeweller, diamond dealer and hobbyist,” says Hoge. Cape Watch has also recently secured
distributorship for brands such as Syenset, SL (engraving systems), Alfa Mirage, Japanese Diamond (abrasive and polishing products) and Jool Tool (polishing and sharpening systems). “We have a website [www.capewatch.co.za] and encourage clients to visit it – prices are current and convenience is our main objective. We use only reliable couriers that offer doorto-door deliveries. Careful consideration was applied to layout, accurate imaging and, most importantly, keeping the website fresh with our company Facebook community posts, a home page blog spot and new product listings,” explains Hoge. The company also produces monthly newsletters containing information about its latest releases, trade news and product discounts. It has a showroom at 33 Church St in Cape Town and is open on the last Saturday of each month.
CIBJO President lectures business school graduates “Social responsibility is a way of life. It should never be considered a strategic alternative which a business may select to increase its revenue or provide itself with a competitive advantage,” said CIBJO President Gaetano Cavalieri, speaking recently in Milan to students in the MBA Global Business and Sustainability programme at ALTIS – Post-graduate Business & Society, the business school of Università Cattolica del Sacro Cuore, the largest private university in Europe and the largest Catholic university in the world. In a wide-ranging presentation, Cavalieri described to the students – who hail from countries around the globe – the development of CSR strategies in the jewellery business and the specific obligations to society that should be assumed by a luxury product sector. “We deal in what are commonly considered luxury items,” he stated. “In other words, fine jewellery is non-essential, unlike food, energy or pharmaceutical products. Consequently, in the bigger scheme of things, there’s a tendency to view our industry as having limited significance.
But that isn’t the case. On a global scale, the number of individuals directly and indirectly employed by the greater jewellery industry runs into millions and there are entire countries whose economic well-being is dependent upon the products we produce and sell.” With the increasing public interest in CSR, and the private sector’s responsibility towards greater society becoming a fixture in many business school programmes, Cavalieri’s been invited to lecture to numerous academic forums about the specific programmes introduced in the jewellery trade. Among the universities at which he’s lectured are the Polytechnic University of Milan and Sciences Po and the Paris Institute of Political Studies.
SA JEWELLERY NEWS – JULY 2015
NEWS
Jewellery Council Collection Awards competition The Jewellery Manufacturers’ Association of SA (JMASA) has invited all students, apprentices and/or learners to participate in the 2015 Jewellery Council Collection Awards Jewellery Design Competition. This competition has not been held since 2011 and the Executive Committee thought it opportune to have it coincide with Jewellex Africa 2015. This year’s theme is “It Looks Like Christmas”. “Everyone loves to receive a beautiful piece of jewellery for Christmas, whether it’s a mother, a father, a lover or a friend,” explains Lorna Lloyd, CEO of the Jewellery Council of SA. “Christmas encourages a special way of
expressing our love for others.” Entrants will be required to design and manufacture a ring which can be sold commercially. Entries and finished jewellery items must be submitted to the JMASA offices by no later than 1 September 2015. Judging will be conducted by visitors and exhibitors at Jewellex Africa 2015 on the first two days of the exhibition (27 and 28 October). An overall winner, as well as those in second and third place, will be selected. The prize-giving ceremony will be held in the Coffee Shop Piatta at the Jewellex Exhibition on 29 October at 12h00.
The overall winner will receive a trophy of excellence sponsored by Umjindi Jewellery, 1 kg of fine silver to the value of R8 000 sponsored by Cape Precious Metals, a one-year bursary at any training institution to be agreed upon with the sponsor, Metal Concentrators, as well as a cash prize of R3 000 sponsored by Sundelson Bros. Those in second and third place will each receive a trophy sponsored by Umjindi Jewellery, 500 g of fine silver sponsored by Cape Precious Metals valued at R4 000 and a cash prize of R1 000 sponsored by Sundelson Bros. The top 10 finalists will each receive a certificate.
Christie’s leads auction market in Hong Kong Renowned private collections dominated Christie’s Spring auctions. Over 60 auction records were broken across categories and collectors also witnessed the most valuable jewellery auction ever organised in Asia (US$117,9 million). Buyers from mainland China continued to be active and were joined this year by collectors from Singapore and Taiwan, who competed for five days in 16 auctions.
“The season was especially memorable for the many important collections curated by Christie’s specialists, offering art-lovers access to some of the top private collections from around the world, including the family collection of K’ung Hsiang-Hsi and the Feng Wen Tang Collection. Combined with many exquisite treasures, Christie’s rewrote the record for the highest total ever achieved for
a jewellery auction in Asia and a handbag auction held worldwide. Many other records were also established, including of 56 artist records. These included a number of Asian artists who made their auction débuts. The auction week exemplified Asian collectors’ unwavering passion for fine art and collectables,” says Rebecca Wei, President of Christie’s Asia.
USEFUL INFO
Your guide to gemstone Finland • labradorite Poland • chrysoprase* • amber
Great Britain • smoky quartz* • jet* • fluorite Canada • diamond • amethyst • garnet
• nephrite • amber • labradorite • sodalite • feldspar • ammolite West Indies • coral
Hawaii • peridot • coral
United States • sapphire • ruby • emerald • aquamarine • quartz varieties • topaz • tourmaline • peridot
• garnets • nephrite • turquoise • sunstone • red beryl • feldspar • spodumene • pearl
Dominican Republic • amber
Honduras • opal
Mexico • fire opal • quartz varieties • topaz • turquoise • feldspar
Areas such as Africa, Brazil and India are rich in varieties and have produced gems for centuries. Other localities yield a single gem of exceptional quality such as Mogok in Burma (Myanmar).
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Spain • aventurine • quartz • jet Italy • tourmaline • amber • coral • serpentine
Nigeria • sapphire • aquamarine • topaz • spinel
Colombia • emerald
Venezuela • diamond • jasper • pearl
Alps • quartz varieties • feldspar • fluorite
Sierra Leone, Ghana, Ivory Coast • diamond
Guatemala • jadeite
Tahiti • pearl
Germany • amethyst* • agate* • topaz*
Guyana • diamond
Chile • lapis lazuli
Bolivia • ametrine Argentina • rhodochrosite • quartz varieties
Central African Republic • diamond Namibia • diamond Brazil • aquamarine • diamond • quartz • emerald and other beryls • agate • opal • tourmaline • quartz varieties • topaz • tourmaline • mandarin garnet • topaz • sodalite • garnet • demantoid • chrysoberyl • amazonite South Africa • diamond • emerald* • quartz • tourmaline
• Transvaal jade • rhodochrosite • verdite • royal lavulite
SA JEWELLERY NEWS – JULY 2015
USEFUL INFO
e deposits of the world Norway • emerald* • peridot • pyrope • garnet • aventurine • feldspar Russia, Urals, Siberia Afghanistan • ruby • aquamarine • spinel • tourmaline • lapis lazuli • kunzite
Austria • emerald* • almandine Czech Republic • opal* • pyrope garnet* Romania • chalcedony • amber • rhodolite • moldavite
Pakistan • ruby • emerald • aquamarine • garnet • spinel • topaz
Egypt • emerald* • jasper • peridot • turquoise*
Angola • diamond
Burma • ruby • sapphire • quartz • topaz • tourmaline • peridot • zircon • spinel • chrysoberyl • jadeite • moonstone • kunzite • amber • other rare varieties
• garnet • alexandrite • nephrite • lapis lazuli
Persian Gulf • pearl Iran • turquoise Tanzania • tanzanite • emerald • tsavorite • garnet
Mozambique • smoky quartz • tourmaline Zaire • diamond • ruby • sapphire • emerald • aquamarine • tourmaline • garnet • chrysoberyl • feldspar • tanzanite
Zambia • emerald • chrysoberyl • malachite
SA JEWELLERY NEWS – JULY 2015
Kenya • ruby • sapphire • aquamarine • amethyst • tourmaline • garnet • spinel • feldspar • tsavorite Madagascar • aquamarine and other beryls • quartz • sapphire • ruby • spodumene • chrysoberyl • feldspar • topaz • tourmaline
Indonesia • diamond
Sri Lanka • ruby • sapphire • amethyst • tourmaline • topaz • zircon • garnet • chrysoberyl • spinel • moonstone • Iolite • other rare species India • diamond • ruby • sapphire • emerald • aquamarine • quartz • almandine garnet • chrysoberyl • moonstone • rhodolite • star iopside • sodalite • pearl
• feldspar • malachite
Japan • jadeite • topaz • quartz • coral • rhodolite
Taiwan • nephrite
Botswana • diamond • agate
Zimbabwe • emerald • aquamarine • quartz • topaz • tourmaline • garnet • chrysoberyl • verdite • diamond
• diamond • chrysoprase • emerald and • tourmaline other beryls • topaz • quartz • demantoid
China • nephrite • ruby • sapphire • aquamarine • amethyst • peridot • diamond • turquoise • amber • jadeite
Thailand, Vietnam • ruby • sapphire • almandine • garnet • zircon
Australia • opal • sapphire • diamond • emerald • chrysoprase • jasper • nephrite • pearl • coral New Zealand • nephrite
The symbol * indicates deposits of historic importance only
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BRAND HISTORY
“Astron” is the Greek word for “star” and in view of its stellar performance, this is an apt name for the world’s first marketable, quartz-powered watch which made the Seiko name famous, particularly as it offered greater accuracy than a mechanical timepiece, at five seconds per month. These first models combined the skills of the brand’s new technology, with its experience in mechanical watchmaking Quartz technology was not unknown – experiments by Pierre Curie in the mid-19th century had proved that when an electrical current is passed across a quartz crystal, the crystal vibrates at a very fast and precise speed. In 1927 a technician at Bell Laboratories in the USA was the first to demonstrate that time could be measured accurately, based on this presumption and as early as 1959, Seiko had built a broadcast clock successfully used in Japan by radio and TV stations. But this clock was huge and the challenge was to reduce it to a timepiece small enough to wear within the confines of a wrist-watch. By 1962 Seiko had been successful in building a quartz marine chronometer which weighed 30 kg and the following year a hand-held quartz timer was created for sporting events, its weight a mere 3 kg. This was the first quartz device ever used at the Olympic Games, in 1964 in Tokyo, as a back-up timer for longer athletic events. It was a device which was marketed. These developments had proved that a stable and reliable quartz timer could be built. But the remaining challenge was that of miniaturisation and the key advancement was the development of an open-style stepping motor which required one coil (a stepping motor is an electromechanical device that converts mechanical impulses, dividing a full rotation into an equal number of parts). The quartz movement also needed to be reduced, while an integrated circuit (IC) had to be invented so that a miniature battery could be used. These advances made it possible to build a movement which could run for more than a year on a button-sized battery that could fit into a wristwatch – yet another challenge being to reduce the size of the battery. “Energy efficiency was the key,” explains Robert Wilson, MD of Seiko Europe. Christmas Day 1969 was a momentous occasion in the history of what became known as the quartz watch revolution when the first Seiko Astron, in a limited edition of 100 in an 18ct gold case, went on sale in Tokyo. It
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The importance of being Astron In the annals of watch history, the name Seiko Astron has played a significant role. The very first model was a technical breakthrough in quartz watch technology. The release of a limited edition of 100 timepieces in Tokyo in 1969 heralded the so-called quartz watch revolution. demonstrated that with further technological advances, a quartz watch could deliver far greater accuracy than any mechanical timepiece available at the time, as this model was accurate to five seconds a month. In 1975 Seiko released the first LCD quartz watch with a digital display delivering even greater accuracy and in 1983 an analogue quartz model followed. Further innovations included the Seiko Kinetic, powered by the movement of the wearer’s arm, which was a combination of automatic and electronic watchmaking. “The first Astron became a platform for future innovations – and who’s to say what might eventuate?” asks Wilson. Astron became a name to remember – as important today as it was in the 1960s and ’70s. Yet despite the successes for which patents had already been registered, Seiko chose to make these advances available to the watchmaking world. It could well be said that the Japanese brand played a significant role in advancing this new technology in the industry. The second Astron released in 2012, the Seiko Astron GPS Solar (so named in honour of its predecessor), is part of the legend. “If you can see the sky, you can know the time
almost anywhere on earth,” was the boast – in 39 time zones, actually. It represented further expansion of the brand’s technology. The newest release, the Astron GPS Solar Dual Time – the third in the series – announced at Baselworld 2015 is the perfect timepiece for the global traveller. This sports watch contains the remarkable 8x calibre first released at last year’s international showcase and requires the mere touch of one button on your time zone. It is reputed to be the highest calibre available worldwide. The exterior complements the high technology within the advanced design of the timepiece. In a sleek, lightweight 45 mm titanium case with black hand-coating, it has a ceramic bezel and a dial which add flair to the sporty style. The timepiece is mounted on a titanium bracelet with ceramic inserts and included is a separate crocodile leather strap with a three-fold clasp to change the appearance of the watch at will. Time zones are marked on the interior dial ring and the bezel has a tachymeter to enable the instant calculation of speed in this avant garde creation. The sapphire crystal has super-clear coating. The timepiece is water-resistant to 10 bars and magnetic-resistance is 4 800 Am. It is due for release in September.
SA JEWELLERY NEWS – JULY 2015
MARKET CONDITIONS
SA’s economy still punc above its weight Despite facing undeniably serious challenges, the South African economy remains a force to be reckoned with – especially on the continent. The role of minerals and metals in the South African economy cannot be overstated; according to the World Bank, they make up almost half of the country’s total exports. With a GDP of US$623 billion, SA ranks 25th in the world in terms of economic muscle. It is the only African member of BRICS, the group of rapidly emerging economies currently comprising Brazil, China, India, Russia and SA. The country of 53 million boasts the second-largest economy in Africa (behind Nigeria), accounting for 24% of the continent’s gross domestic product, and is demonstrating consistent growth. Much of this growth is focused on Africa, where SA still accounts for the highest amount of foreign direct investment into the continent. Strong fundamentals SA continues to enjoy strong economic fundamentals, as evidenced by its weathering of
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the 2007/8 global financial crisis. The country was recently ranked as the 53rd most competitive country in which to do business by the respected World Economic Forum’s Global Competitiveness Index (second only to Mauritius on the continent and overtaking Brazil to second in the BRICS cohort). According to the report, which surveys business people in 148 countries and is conducted annually, South African institutions fared excellently, particularly in their protection of intellectual property and property rights and the legal system’s ability to challenge and settle disputes effectively (all these indicators were rated in the top 20 globally). The accountability of South African private institutions was ranked second in the world, while its financial market development continues to impress (ranked third globally). In 2013, FDI magazine, taking into account economic potential, labour, infrastructure and the ease of doing business, ranked the country as the top “African country of the future”. And – partly due to the above-mentioned global crisis, but also due to perceived improved quality of life – SA is seeing a partial
reversal of the “brain-drain” (professionals who emigrated in the 1990s and 2000s), with some researchers putting the number of skilled returnees as high as 360 000. The South African government has considerably improved economic conditions – particularly for the export market – including putting in place policies that work to increase efficiencies of time, cost and bureaucracy for companies to get product to port, as evidenced by the World Bank’s recent assessment of ease of trading across South African borders. Growing export markets The results speak for themselves: exports from SA have shown consistent growth. As of July last year, SA exported R85,372 million worth of goods (slightly down from its all-time high of R86,499 million in November 2013). SA is a leading global exporter of metals and minerals, fruit, sugar, corn and wool. According to Trading Economics, it is also the world’s biggest exporter of chromium and platinum (accounting for 8% of the country’s total exports). Gold (accounting for more than one-third of total exports), iron ore (7%), coal (6%), motor vehicles and car parts (5%) and diamonds make up the rest of SA’s main exports. Export recipients include Japan and the USA (both accounting for 10% of
SA JEWELLERY NEWS – JULY 2015
MARKET CONDITIONS
ches
the market), Germany (7%), the UK (6%), China (5%), the Netherlands (4%), India and Belgium. Sub-Saharan Africa has recently overtaken Europe as SA’s biggest trading partner (recipient) of non-mineral exports.
Massive role of the mining industry The role of minerals and metals in the South African economy cannot be overstated; according to the World Bank, they make up almost half of the country’s total exports. SA’s mining industry is estimated to be the fifthlargest (in terms of GDP value) in the world. Massive reserves rest in the country, including platinum (78% of global reserves), gold (50% of global reserves), diamonds, chromate ore and vanadium. Total reserves of all minerals and metals are estimated to be worth upwards of US$2,5 trillion. And, because South African gold rests at low geothermal gradients, deeper mining is possible; according to the Chamber of Mines, South African gold mining is valued at close to a whopping US$4 billion. According to government statistics, SA is the fourth-biggest producer in the world of diamonds by value (after Botswana, Russia and Canada), to the tune of R15 million in 2011. Although higher demand in China and India is seeing increased demand for cut diamonds in
emerging markets, almost 75% of the export goes to traditional markets in Europe, Japan and North America. And the mining and minerals industry benefits the domestic economy to the tune of billions. It is estimated to contribute more than one-third of the value of the Johannesburg Stock Exchange, while being an excellent earner of foreign exchange. It contributes almost 13,2% of all company taxes and is responsible for 20% of foreign investment. Perhaps more importantly, the mining sector remains the country’s largest employer, creating 1,3 million jobs in 2012 and spending R7,4 billion on training in the same year. This training has
The role of minerals and metals in the South African economy cannot be overstated; according to the World Bank, they make up almost half of the country’s total exports. SA JEWELLERY NEWS – JULY 2015
resulted in very high expertise – notably in research and production – as well as world-class processing facilities. South African companies are world leaders in converting low-grade super-fine iron ore into high-quality iron units, for example. In recent years, however, South African mines – particularly in the platinum sector – have seen protracted and violent strikes, affecting output and morale significantly. This culminated in the deaths of 48 people in 2013 at Marikana. While some of this unrest is undoubtedly due to intraunion vying for power, sector management needs to revisit labour policies in order to ensure uninterrupted production. The rising costs of electricity, transportation and other infrastructural challenges also serve to counter the sector’s growth. Although the value of South African diamond production has risen significantly in recent years (even while production has decreased), there remains much to be done to stimulate the domestic manufacturing and polishing services in order to add value to the finished diamond product. Approximately 16% of the world’s diamond production comes from SA, yet only 1% of the world’s jewellery is produced locally. In view of the need to add value and thereby create employment and skills, emphasis has recently been placed on upskilling young designers in jewellery manufacturing. Currently, the industry (which varies from high-end, bespoke studios to large-scale concerns) employs almost 4 000 people, and this is growing due to increased demand, especially from Europe and the USA. (SA enjoys duty-free status on exports to the latter under GATT.) Vehicle manufacturing industry shows consistent growth While mining remains the major driver of the South African economy, other important sectors include motor vehicle and parts manufacturing, telecommunications, information technology (IT), tourism and agriculture. Combined, the vehicle, component and tyre manufacturing industries contribute around 6% of GDP and create over 100 000 jobs, according to the Automotive Industry Export Council. Some of the world’s best-known vehicle brands, such as BMW, General Motors, Mercedes-Benz, Nissan, Toyota, Ford (Mazda), Renault and Volkswagen, have manufacturing plants in SA, many based close to Nelson Mandela Bay Municipality (Port Elizabeth) to take advantage of the COEGA Special Economic Zone and port. Many branded vehicle parts are also manufactured in SA.
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MARKET CONDITIONS
The Automotive Production & Development Programme, the government initiative to stimulate the motor manufacturing industry, wants to see output quadruple by 2020 (in 2010, 271 000 vehicles were exported from SA), mirroring the growth rate of the past two decades; however, as in the mining sector, labour unrest has affected the industry and will need to be addressed for this sector to continue its strong growth. Shift to service industries Although still heavily reliant on the manufacturing and mining industries, the South African economy is following other emerging economies in making a shift towards “soft” or service industries. The telecommunications sector makes up 10% of GDP. The existence of a top-notch digital and wireless infrastructure, supported by satellite Internet access, and the rapid roll-out of mobile technology have allowed companies to expand rapidly and gain huge profit share. Many of SA’s operators, such as MTN and Vodacom, have successfully expanded to the rest of the continent and to the Middle East, for example. The IT industry accounts for $10,3 billion in revenue, according to the South African Electrotechnical Export Council. Much of this is from electronic banking and mobile software services, with local companies adapting First World technology to meet the challenges of developing nations. Pre-payment systems and set-top box manufacturing are just two examples of South African IT products successfully brought to market. Many of these innovations are adapted and exported to the continent, including to the fast-growing economies of Nigeria, Mozambique and Angola. South African software development companies are recognised the world over for their efficiency and flexibility. In fact, the country was recently ranked as one of the best 30 nations within which to outsource software development. According to www.southafrica.info, approximately 1 000 software development companies exist in SA. South African companies support world IT leaders such as IBM, Dell, Intel and others, which all have satellite offices in the country. The government is also actively encouraging the growth of the IT sector through the Industrial Development Corporation’s Support for Industrial Innovation programme. The Income Tax Act has been amended to allow software developers to claim up to 150% of research and development as expenses. Outsourcing by multi-national companies is also done in the customer service and telemarketing industries.
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Aided by SA being in the same time zone as Europe, the excellent levels of spoken English and cost-efficiencies, companies from Amazon to Lufthansa employ thousands in their call centres, for example. The dawn of tourism Tourism is another soft industry that has gained major importance to the South African economy. Helped by good weather, diverse landscapes with a wealth of wildlife, excellent food, convenient amenities and the successful hosting of the 2010 FIFA World Cup, SA is regarded as a reasonably safe and accessible gateway to see a part of Africa. Tourism is responsible for an almost 8% contribution to the overall GDP in 2009 and this figure is expected to more than double by 2020. Government, seeing the excellent employment returns in the sector, is committed to growing tourism, with both national and provincial tourism bodies actively marketing their respective regions and expanding their offerings on a consistent basis. Agriculture – a waning force Much is said of the quality of South African produce, but agriculture is no longer the major contributor to the economy it once was and is currently responsible for just 2,6% of
the country’s GDP. The sector employs 10% of the formal workforce and many more on a casual basis. Main crops include corn, fruit, citrus and wool. Water scarcity and the high costs of transportation and electricity have made farming an increasingly difficult business to pursue. Facing the challenges Notwithstanding the above, the South African economy faces several serious challenges. These include massive unemployment (pegged at 25%) and huge inequality: SA is rated as the 82nd most unequal country in the world. Corruption, especially in the public sector, has become commonplace and hinders development. Due to these issues, ratings agencies have recently downgraded SA’s credit ratings – and are expected to do so again before year-end. This will make the importation of much-needed machinery and transportation equipment (which comprise one-third of all SA’s imports) more expensive. Besides building and maintaining existing infrastructure, SA needs to smooth the way for exporters through the lowering of logistics and transportation costs and use its political clout on regional political bodies such as SADEC and the African Union to further regional integration. The government is already well aware of the benefits of encouraging small and medium-sized enterprises, but can go further in reducing red tape and increasing access to finance for entrepreneurs. If SA can meet these challenges, the next decade should see the continued growth of its economy and positive spin-offs for the country’s neighbours and the African continent as a whole.
Sources: www.wikipedia.org
www.gov.za
www.southafrica.info/business/econo my/globalsurveys.htm#competitiveness
http://info.goldavenue.com
As quoted in Wikipedia: http://en.wikipedia.org/wiki/FDi_magazine Adcorp, as quoted on www.southafrica. info/abroad www.mediaclubsouthafrica.com www.tradingeconomics.com www.worldbank.org
As referenced on www.southafrica. info/business/economy/sectors/automotiveoverview.htm Ranked by Gartner, as stated on www.southafrica.info/business/economy/ sectors/icte-overview.htm# National Department of Tourism: www.tourism.gov.za
www.southafrica.info
According to Wikipedia: http://en.wikipedia.org/wiki/Agriculture_in_South_Africa
http://chamberofmines.org.za
African Odyssey 2014/15
SA JEWELLERY NEWS – JULY 2015
Wishing all our Muslim clients, colleagues and friends a blessed Ramadan. Pretoria: (012) 000-4440 Cape Town: (021) 510-0770 Durban: 083-600-2210 E-mail: info@metcon.co.za www.metcon.co.za
CJR Gift Sales (Pty) Ltd wishes all its Muslim customers prosperity, faith and happiness in the holy month of Ramadan. Tel: (011) 257-6000 E-mail: info@cjr.co.za
Wishing all our Muslim clients a blessed fasting month and joyous Eid Mubarak. From the Bassano Gioielli Team Tel: (011) 704-5667/4164 Fax: (011) 704-4002 www.bassanogioielli.com
DIA
I nternatIonal D IamonD CertIfICatIon laboratory
Wishing all our Muslim clients and friends happiness and faith in the holy month of Ramadan and a joyous Eid ul Fitr.
Wishing all our Muslim clients prosperity, faith and happiness in the holy month of Ramadan and a joyous Eid ul Fitr.
Tel: (011) 642-2018/9 Fax: (011) 642-2016 E-mail: ungarbros@ worldonline.co.za
Tel: (011) 805-7574 Fax: (011) 805-7576 E-mail: enquiries@aps-studex.co.za www.aps-studex.co.za
Best wishes to you and your family for a happy and blessed Eid. Tel: (011) 334-5911 E-mail: DIALab@telkomsa.net www.diagrading.co.za
JEWELLEX AFRICA
Mohammed Ravat of Montres du Monde, which won Stand of the Year at last year’s Jewellex Africa with its renowned watch brand Bell&Ross, is very excited about this year’s show, where it will be launching another high-end luxury brand. How long have you been involved in the jewellery industry in South Africa? I was born into the jewellery industry, so I’ve been involved in it my whole life, but only for the past 15 years on a full-time basis. Are you optimistic about the future of the South African jewellery industry – and the watch industry, in particular? The industry’s facing a difficult time at the moment, but I have no doubt that the market will turn. The trick is to be able to survive until then. Due to the influx of brands into the South African market, customers have more exposure to different watches and are better educated about watches, which leads to a better understanding of the value of a particular brand. The future of the watch industry is exciting.
Watch industry enthusiastic about this year’s show
What brands will be on display at the Montres du Monde stand at this year's Jewellex Africa? We’ll be showcasing Bell&Ross at Jewellex. We’ll also be launching another high-end luxury brand there which will definitely “wow” visitors.
Why will Montres du Monde attend Jewellex Africa again this year? Last year was a good show for us and Jewellex Africa is the only time we get to see all the retailers and showcase ourselves in the correct environment. The news in the trade is that 2015 will be an exceptional event and we definitely don’t want to miss out.
Why are shows like Jewellex vital? The players in the industry, from manufacturing to wholesale and retail, need to realise that we’re all dependent on each other and that we need to work together in order for everyone to be successful. Jewellex brings all the sectors of the industry together and is a platform for them to interact.
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What would an exhibitor/visitor gain from attending Jewellex and what does Montres du Monde wish to gain? There seems to be a revival of the local industry, with Jewellex being the catalyst – and every visitor and exhibitor will be a part of this. We’re excited about the event and are looking forward to meeting all the key players in the industry there.
There seems to be a revival of the local industry, with Jewellex being the catalyst.
Do you think Jewellex Africa 2015 will be different from previous years? I’ve heard that it’s going to be very different and, unlike recent years, most of the space has already been sold. My advice is: don’t miss it!
SA JEWELLERY NEWS – JULY 2015
BRAND MANAGEMENT: FRENCH WATCHES, JEWELLERY AND HIGH JEWELLERY
Loris & Loris Paris unveils Joanne, Ginza and Claire Born one morning in 1990 in the creative mind of jeweller Loris Korchidian, under the name of Loris Paris, the brand has weathered the decades and now takes the name “Loris & Loris Paris”. Its creator has strived ceaselessly for perfection, both in his work and in the materials and raw materials used. As a small child in Lebanon, Korchidian spent most of his time in his grandfather’s workshop. Exposed to the business from a very young age and irresistibly drawn to beautiful and precious objects, he began work as an apprentice to a jeweller at the age of 14, before being consumed by a passion for setting precious stones. Scarcely aged 20, he created his own jewellery brand, making his childhood dream come true. In Paris, he rapidly met with the greatest
names of the Place Vendôme and decided to install his workshop close to this mythical square and develop his own high-end jewellery brand. Loris & Loris specialised in the creation and manufacture of high jewellery items and achieved success very quickly, acclaimed for its expertise in design and craftsmanship. Today the firm continues to produce the distinctively French aesthetic of high-end jewellery which its founder first embraced. The brand’s ambition is to continue its development through partnerships both in France and abroad. Loris & Loris creations are currently visible in display windows in Paris, China and Japan. It recently unveiled three new collections: Joanne, Ginza and Claire.
Because women are so diverse and dynamic, Joanne is a range of rings in grey gold comprising three models: one set with four diamonds in the centre surrounded by small brilliants and with matching earrings, a second set with one diamond and a third without diamonds. Inspired by the Japanese art of knottying and taking its name from a famous district of Tokyo, Ginza is a grey gold pendant set with diamonds. A grey gold chain is also available in a larger model set with small brilliants. Two small knots as earrings, set with diamonds, complete the collection. Fifteen references of bracelets, rings, pendants and earrings in grey, pink or yellow gold and diamonds comprise the Claire collection of more streamlined, accessible items. All of them are based on diamonds, comprising the brand’s totem and highly graphic ranges.
Elegance in black
has a sapphire case-back held by six titanium screws, an anti-reflective sapphire bezel and a black titanium crown marked with the fleur-de-lys logo relief. The black dial has a large date in a double window, the small seconds dial and the power reserve indicator, as well as an appliqué hour ring with cloisonné Luminova and Superluminova hands. The “Calibre Royale” movement with which the watch is fitted is designed, assembled and tested in the brand’s high watchmaking laboratories in Morteau in the French watchmaking region of the Jura Mountains. It has 21 600 vibrations per hour, with dual-direction automatic initial force distribution by a central bar-
rel axis and large balance with compensating screws. This movement is finished with pearl black bridges and plate and Côtes de Genève, as well as a black sunburstwinding rotor. The watch is mounted on a black vulcanised rubber strap, also marked with the lys motif and a black DLC titanium double butterfly buckle. The 50 models of this elegant watch will be produced with 30 having a date display in English and 20 with it in French. The Calibre Royale is the latest movement produced by the brand and includes numerous innovations and integrated complications, eight of them patented. The movement is exclusive to Pequignet.
French luxury watch and clockmaker Pequignet is dedicated to quality and a love of craftsmanship, which is made possible by its independence as a company. The brand’s successful Royale Titane design has now been produced in a limited edition in a unique black version of 50 pieces. Its new model, the Royale Titane Grande Date Calibre Noir, has a 44 mm black DLC titanium case, with its movement the calibre Royale. It has large Superluminova indices on the hour and minute hands on its black sunburst dial, a small seconds dial, an 88-hour power reserve indicator and a double date and day window. This model is water-resistant to 50 m and
Pierre Lannier: from trendy to sophisticated Pierre Lannier’s latest collection for 2015 offers a wide range of models – from trendy to highly sophisticated – in a variety of materials, shapes and mechanisms. Chic and feminine, Les Citadines has now been expanded to include new models of minimalist design with elegant and refined
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details in an urban chic style, available in various different versions. Pierre Lannier continues the development of the Les Contemporaines range, now extended to include many models in soft shapes, celebrating Milanese mesh, taken from men’s ranges and creating a resolutely new look. Les Contemporaines’ Les Céramiques proves that white or black ceramic is always very popular. The new collection includes designs whch are even more feminine, designed with fashion in
mind and with precious-look details (such as strass, pearly dials and golden links). The Les Chronographes range is always very trendy: circular or rectangular, the various styles have a notably urban look, highlighting the brand’s expertise. For city gentlemen, Les Chronographes’ City Chics are both discreet and original, with an innovative design. They are available in three different versions: steel case and white, black dial with Roman numerals or pinkish gold steel case with matching Roman numerals.
SA JEWELLERY NEWS – JULY 2015
BRAND MANAGEMENT: FRENCH WATCHES, JEWELLERY AND HIGH JEWELLERY
The Marie Antoinette collection In this collection, Commelin pays tribute to the last queen of France: Marie Antoinette. The daughter of the Holy Roman Emperor Francis I and Empress Maria Theresa of Austria, she was born in Vienna on 2 November 1755. In April 1770, she married the future king of France, Louis XVI and moved to Versailles, where she had four children before her tragic death on the guillotine on 16 October 1793 in Paris, during the French Revolution. Passionate about flowers (particularly roses), Marie Antoinette was renowned for her love of nature and her great elegance.
Saint Honoré celebrates Paris Saint Honoré has been synonymous with the famous “Paris style” since 1885 and presents easily identifiable collections. The elegance and watchmaking know-how of the brand attract amateurs of contemporary timepieces. Elegance, tradition, innovation and passion are the brand’s watchwords. Two of its latest
In 18ct (750/1 000th) white or yellow gold and translucent or opaque precious enamel, the “Bouquet de Marie Antoinette” collection is available as earrings and a pendant. A necklace, pendant and earrings in 18ct (750/1 000th) white or yellow gold and translucent or opaque precious enamel comprise the “Roses de Marie Antoinette” collection. The “Rubans de Marie Antoinette” evoke the delicate ornamental ribbons that decorated her royal apartments. This line includes pendant and earrings in white or yellow gold with translucent or opaque enamel.
collections are Tour Eiffel and Audacy. In celebration of its 130th anniversary, Saint Honoré has designed a collector’s model made for the first time from a metallic beam taken
brown croco-look strap has a “Tour Eiffel” pin buckle. The watch comes in a collector’s case, with a certificate of authenticity signed by the company which operates the tower, the Société
from the Eiffel Tower, one of the most famous monuments in the world. Saint Honoré has used this precious component to make the bezel, whose pattern and colour are an immediate reminder of the Parisian landmark. The bezel surrounds a dial created in relief (which uses the same architecture) and reveals at its centre the cogs of a mechanical, automatic winding movement, specifically personalised by the brand. Worn on an elegant croco-look strap, the “Tour Eiffel” watch is produced in a limited edition of 1885 steel watches (in celebration of the year in which this watchmaking firm was established). It is a unique opportunity to wear an exceptional symbol of France and the technological genius of Gustave Eiffel on your wrist. The steel case is surmounted by a bezel sculpted from an element of the tower’s famous lattice pattern. The open-work silvery dial is also reminiscent of its architecture. The
d’Exploitation de la Tour Eiffel. “Red suits you so well” is a real declaration – and the “Audacy” watch displays the colour of passion and love. Entirely red from dial to strap, the watch seeks to seduce and even bewitch. The “clous de Paris” hobnail decoration reigns supreme on the bezel, in a very carefully laid-out two-row pattern, as well as on the dial, around the edge of the subsidiary seconds dial. The watch boasts a gorgeous red guillochéd dial decorated with silver-coloured indices and hands for perfect legibility. Another visual signature lies in the generously curved crown, off-centred at 4 o’clock, giving this model a unique look. Decorated with an onyx, the crown further enhances the prestige and elegance of a watch that is both discreet and dazzling. For more discreet women, Saint Honoré offers this model with a white, brown or golden dial and leather strap. More colours make the watch just as desirable.
Inspired by portholes on transatlantic yachts For over 65 years, the Michel Herbelin workshops in Charquemont, FrancheComté near the Swiss border, have been designing, manufacturing and selling French-made watches all over the world. The Herbelin family are huge fans of sailing and this has inspired their creativity for three generations. A testimony to this passion is the Newport Yacht Club watch, the brand’s emblematic timepiece in-
SA JEWELLERY NEWS – JULY 2015
spired by the portholes on transatlantic yachts which has appeared in many variations, including Newport Trophy, Newport Yacht Club, Odyssée and Newport Yacht Club Squelette. Naturally, the Herbelin family has been involved in major sailing races and many sailors wear the brand’s watches. Michel Herbelin was partner to the 2014 Route du Rhum race which
left Saint-Malo in Brittany on 2 November for Point-à-Pitre in Guadeloupe, with over 90 yachts in the race. For the occasion, Herbelin revealed the latest from the emblematic Newport line: the “Newport Yacht Club Régate”. With an automatic movement, this new version boasts a steel case, a hand-brushed white dial and a blue leather strap. The movement has hour, minute, small second, 60-second chrono, 30-minute counter and 12-hour functions, as well as an oscillating weight.
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Contact Adri Viviers on 084-261-1805 or sajewellerynews@isikhova.co.za
SA JEWELLERY NEWS – JULY 2015
MARKETPLACE
LITTLE GEMS
The meticulous work of JAR Joel Arthur Rosenthal, who was born in 1943 and grew up in the Bronx, New York City, has been named “the greatest jeweller of our time”. Growing up in this environment, he spent much of his early life visiting museums which stirred in him a passion for beautiful objects, art and history. He studied those subjects, as well as philosophy, at Harvard University, from which he graduated in 1966 and then moved to Paris. There he embarked on a series of diverse jobs such as screenwriter and embroiderer of needlework. It was in Paris that he met his future companion, Pierre Jennet, who was to be the “other half” of their enterprise. With Jennet, Rosenthal spent many of his early days in Paris at antique shops, museums, galleries and auction houses, where he learnt about antique jewellery, diamonds, pearls and coloured stones. In 1973 the duo opened a needlepoint shop in the rue de l’Université, which for him meant painting mainly flowers on white canvas and playing with the palette of colours of the wools. This venture lasted only 11
His clients were the glitterati, the rich and famous – the Rothschilds, Guinesses and Rockefellers. It was said that every fashionable woman aspired to owning a piece of his jewellery. Yet he chose anonymity and used the initials of his name – JAR – to identify his brand. Alice Weil looks at the man who was considered the most gifted creator of the present generation of jewellers. months, but his work captured the attention of fashion designers such as Hermès and Valentino. His career moved in another direction when he was asked to design a mount for a stone. Back in the USA in 1976, he worked for a short period as a salesman in Bulgari’s New York store, but returned to Paris in 1977. He began making pieces in affordable materials such as coral and moonstones, explaining that he wanted to “play with stones”. Following his success, he and Jennet founded JAR and, in 1978, opened a salon at No 7 in
JAR’s craftsmanship was superb and his creations were limited and very expensive. It could take him as long as a year to complete a single piece. 28
the Place Vendôme near the famed Hotel Ritz, the haunt of the rich and powerful. The Place Vendôme, considered the heart of Paris and a highly-prized address for over 3 000 years, as constructed during the reign of Louis XIV was an expression of grandeur. But the store had no front or street sign and only a small, discreet plaque with the engraving “JAR” announced the location of his boutique. Here he created jewellery by almost “painting” his pieces with coloured stones, presenting a very different ethos. His jewellery marked the return to fashion of coloured diamonds. Little by little, the then fashionable concept of sparkling white diamonds saw them interspersed with splashes of colour by introducing emeralds, rubies, sapphires, turquoise, lapis lazuli and corals – and this became the vogue. It also became one of the key elements of high jewellery. Thus the return to colour played a key role in jewellery design at the time. JAR’s pieces were one of a kind: the craftsmanship was superb and his creations were limited and very expensive. It could take him as long as a year to complete a single piece. He used materials such as platinum and titanium, while maintaining his discretion about his identity. His clientele had broadened from the initial local Parisians to international travellers and in 1987, the company relocated to a larger space next door to the original shop – the same one from which it operates today. The team was expanded to a few exceptional craftsmen specialising in their fields of operation. The jewels fulfilled an aesthetic, rather than a commercial ambition. But the superior craftsmanship of JAR’s work, his sculptural creations incorporating shallow and unusual gemstones and his attention to detail singled his creations out as exceptional.
SA JEWELLERY NEWS – JULY 2015
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