SA Jewellery News (SAJN) • November 2017

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Jewellery News NOVEMBER 2017

SA

Variety and innovation at this year’s Jewellex Africa The tape that ties Visual retail shopping a reality

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See money differently with Whole-view Business Banking™ from Nedbank Money expert Linda Mbambo , Provincial General Manager of Retail and Business Banking Gauteng Central explains how new brand values build on the bank’s expertise to benefit its clients.

As such, our range of products and services as offered by the various businesses in the group are focused include: • Nedbank Corporate and Investment Banking – Full suite of wholesale banking solutions.

• Nedbank Retail and Business Banking – Full range of services, including transactional banking, card solutions, lending solutions, deposit-taking, risk management, investment products, and card-acquiring services for business.

• Nedbank Wealth – Wide range of financial services, including high-net-worth banking and wealth management solutions.

• Rest of Africa – Through the Ecobank–Nedbank Alliance we offer a full range of banking services.

Doing business with the jewellery sector is one of the many industries that Nedbank is involved in through our Retail and Business Banking offering.

Operating from its offices at Lakeview, Gauteng West, Nedbank Retail and Business Banking now has business managers’ available under one roof. Linda says her team is ready to assist clients with professional advice, industryspecific solutions and a comprehensive range of financial products and services.

She heads a team of Retail and Business Banking experts with the aim of providing clients with unique business and financial solutions. ‘It forms part of our purpose at Nedbank to use our financial expertise to do good for individuals, families, businesses and society,’ says Linda.

‘At Nedbank Retail and Business Banking we believe you need a financial partner who has a deeper understanding of your

Linda Mbambo Provincial General Manager, Retail and Business Banking, Gauteng Central

business – someone who offers innovative, relevant solutions and who gives you a banking experience that is hassle free.

As money experts, we are committed to doing good, so you can concentrate on what’s most important to you – running your business,’ adds Linda.

Nedbank recognises that you have a full range of banking needs that go beyond transaction and borrowing. That is why their dedicated team of specialists partner with you to give you a bird’s-eye view of your business and a different perspective on how your money needs to flow to match your goals.

‘We look forward to continuing our relationships with our valued existing clients, and to offering our value proposition to new clients as well. At the core of our offering is a relationship-based model with a business manager dedicated to your business as your key entry point to the bank. We encourage you to see money differently with Whole-view Business Banking™ from Nedbank, and to take advantage of our one-stop banking service.

To take your business to the next level or to obtain more information about Nedbank’s specialised service offering, call Haddon Niehaus on +27 11 294 0895, send an email to haddonn@nedbank.co.za or visit www.nedbank.co.za.

see money differently Nedbank Ltd Reg No 1951/000009/06.

Authorised financial services and registered credit provider (NCRCP16).

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Money expert Nedbank prides itself on being a bank for all.

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: Ian Starnes Cell: 082-052-8428 E-mail: adsales@isikhova.co.za

c ntents 6. NEWS

Advertising Sales: Trivern Goodoon Tel: 072-837-4962 E-mail: sales@isikhova.co.za

• JCSA Collection Awards Jewellery Design Competition winners announced

Advertising Sales Representative (India): Bhupal Potdar Cell: 91-982-115-1035 Email: bhupalpotdar@gmail.com

• All systems go for VOD Dubai International Jewellery Show • Rapaport to auction historic Sierra Leone 709 ct “Peace Diamond”

Advertising Sales Representative (Hong Kong): Maud Errera E-mail: maud@lni.com.hk

• Jewellex Africa R100 000 prize winner announced

Designer: Joanne Brook

• Hong Kong Jewellery & Gem Fair reflects stable market

Copy Editor: Anne Phillips 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 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

20. WATCHES & CLOCKS

• Michel Herbelin celebrates 70th anniversary by unveiling connected watch model

World’s biggest timepiece exhibition presents minimalist styling

• Letšeng mine yields 115ct diamond

22. BRAND MANAGEMENT • Jenny Woolf Jewellery showcases latest charm collection at Jewellex

12. JEWELLEX AFRICA 2017: REVIEW

• Best-seller chrono reinvented

Variety and innovation at this year’s Jewellex Africa

Image courtesy Geoffrey Flint

Chief Financial Officer: Imraan Mahomed E-mail: imraanm@isikhova.co.za

• Tudor announces Lady Gaga as new brand and campaign ambassador

Printing: Typo

Banking Details: Isikhova Publishing & Communications CC Bank: Standard Bank, Sandton, South Africa Branch Code: 01-92-05 Current Account Number: 4209 6822 9

25. PRODUCTS, TOOLS & TECHNOLOGIES • Fine detail 3D printing • Money and time-saving solutions • Visual retail shopping a reality

28. LITTLE GEMS Brooching the subject

14. RETAIL CORNER The tape that ties Official Journal of the Diamond and Jewellery Federation of South Africa.

Website: www.jewellery.org.za 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© 2017. 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.

4

16. COINS The World of Leading Bullion Coins book launch

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Jewellery News NOVEMBER 2017

SA

On the cover B.Y.L Diamonds is thanking its customers for their loyal support through its newly-launched incentive program, B.Y.L Rewards. By registering for B.Y.L Rewards, clients will automatically qualify to receive rewards on all their diamond, tanzanite and jewellery purchases. For more

Variety and innovation at this year’s Jewellex Africa The tape that ties Visual retail shopping a reality

Register today with the B.Y.L Loyalty Program and start gaining rewards on your purchases.

information on this incentive or to register, contact B.Y.L Diamonds on tel: (021) 419-2000 / 060 801-4954 or e-mail: orders@byldiamonds.com.

SA JEWELLERY NEWS – NOVEMBER 2017

NEWS

MICHEL HERBELIN UNVEILS CONNECTED WATCH MODEL Celebrating its 70th anniversary this year, the Michel Herbelin French Watchmaking Studio unveiled its first “Made in France” connected watch model. True to traditional watchmaking codes, the Newport Connect features a classic analogue dial, while integrating smart functions. Immediately recognisable with its central clasp, the Newport Connect delivers

a modernist reinterpretation of the Newport, the emblematic Michel Herbelin watch.

At first glance, it does not reveal all its capabilities, but it is in fact a smartwatch which peforms multiple daily functions, including notifying its wearer of incoming calls and messages, tracking sleep time and activity, with dynamic coaching that offers suggestions and tips according to the wearer’s profile and target goals. It also automatically resets to local time zones when travelling, but remembers the time in the city of origin.

Indicated by the hands and a vibration mode, these functions are easy to use: the transition from smart functionality to the analogue time display is made by simply pressing the crown.

The Newport Connect functions with the MMT-365 application, available for iOS and Android. Once it is downloaded onto the smartphone, it is possible to monitor activity and sleep for the day, week or month via Bluetooth. The data collected on the watch is

memorised for up to 30 days and can be saved on the cloud and restored, if needed.

Drawn, designed, assembled, adjusted and inspected at the Michel Herbelin French Watchmaking Studio, the Newport Connect is heir to French watchmaking know-how, rooted in the Jura mountains of France’s FrancheComté region since 1947. Like all the brand’s collections, it is equipped with a Swiss movement. In this case, it is a quartz calibre, the MMT 281, for which the decisive advantage is a battery life of two years, without the need to recharge it.

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6

HONG KONG JEWELLERY & GEM FAIR REFLECTS STABLE MARKET Diamantaires left the recent Hong Kong Jewellery & Gem Fair relatively satisfied with trading in the loose-diamond section, as traffic increased during the five-day event.

Buyer traffic rose from last year and there was steady demand for specific items, such as 1-2ct, G-J-colour, VVS2SI2-clarity stones, dealers reported. They also reported steady demand for 0,30-0,50ct, F-K-colour, SI-clarity diamonds.

Buyers were pushing for lower prices, but on the whole, suppliers did not yield.

“Sentiment is better than last year, but everyone’s trying to get a bargain,” said Vincent Yiu, a Manager at Hong Kongbased diamond manufacturer Brilliant Trading Company.

“I’ve spoken to many suppliers and most of them say they’re seeing their old customers, who all want to buy cheaper,” added Lawrence Ma, Chairman of the Diamond Federation of Hong Kong.

Dealers were hoping the show would stimulate stronger polished-diamond prices after the summer vacation period, when trading is traditionally slower. Diamond prices have softened in 2017, with the RapNet Diamond Index (RAPI™) for 1ct diamonds down 3,8% in the first eight months of the year.

The index remained basically stable during the week of the show. – Rapaport

SA JEWELLERY NEWS – NOVEMBER 2017

NEWS

CIBJO EUROPEAN JEWELLERY GUILD ESTABLISHED The CIBJO European Jewellery Guild, a new body of leading associations from across the continent, has been formally established within the World Jewellery Confederation to advocate for the common interests of European-based participants in the jewellery and gemstone industries, and to represent them in contacts with officials, departments and agencies of the European Commission, the European Parliament and the European Council.

The new body held its inaugural meeting on 23 September at the VicenzaOro jewellery show in Vicenza, Italy. Among the organisations represented were Union Française de la Bijouterie, Joaillerie, Orfèvrerie de Pierres and des Perles (UFBJOPP) from France, the Antwerp World Diamond Centre and Ars Nobilis, from Belgium, Confidustria and Assogemme, of Italy, BV Schmuck & Uhren and Fachvereinigung Edelmetalle from Germany, as well as safety and standards organisation UL. UBOS from Switzerland. The

National Association of Goldsmiths from the UK was represented by proxy. The meeting was chaired by CIBJO President Gaetano Cavalieri.

The meeting officially approved the establishment of the CIBJO European Jewellery Guild, with the organisations represented at the Vicenza meeting recognised as its founding members. All other associations and organisations operating in Europe which are already members of CIBJO will automatically become members of the new body.

The participants also unanimously approved Cavalieri’s nominations of CIBJO European Jewellery Guild officeholders. The President of the new body is Bernadette Pinet-Couq, Executive President of UFBJOPP, who’s also served as Chair of the European Jewellery Federation, a body uniting jewellery associations from France, Belgium, Italy and Portugal. The nominations of four Vice-Presidents were approved, including Dr Stefano de Pascale, Director of Confidustria, Michael Bloch, Vice-Chairman of Ars Nobilis, Guido Grohmann, MD of BV Schmuck and Uhren, and Charles Chaussepied, a UFBJOPP board member and former Chairman of the Responsible Jewellery Council.

LETŠENG MINE YIELDS 115CT DIAMOND Gem Diamonds has unearthed a 115ct rough diamond, as the company’s shift to a more lucrative part of its Letšeng mine continues yielding improved recoveries of large stones.

The D-colour, type-IIa diamond is the sixth stone above 100ct that Gem Diamonds has found this year at its high-value mine in

Lesotho. In 2016, the miner only recovered five diamonds of this size, resulting in a 22% drop in revenue.

In the second quarter of this year, the company switched focus to the higher-grade K6 portion of Letšeng’s main pipe, enabling a higher recovery rate of large diamonds. – Rapaport

RAPAPORT TO AUCTION HISTORIC SIERRA LEONE “PEACE DIAMOND”

“The Peace Diamond will greatly improve the lives of our people, as it will bring clean water, electricity, schools, medical facilities, bridges and roads to our villages and the Kono District. This diamond represents our hope for a better future as the resources of Sierra Leone fund growth, development and jobs,” says Pastor Emmanuel Momoh, the owner of the diamond.

“The government remains committed to ensuring a transparent and competitive auction process that will ensure fair market value for Sierra Leone’s diamonds,” says Dr Ernest Bai Koroma, President of Sierra Leone. “We call on the worldwide diamond industry to bid generously for the Peace Diamond, as it will bring vital infrastructure and benefit to thousands of Sierra Leone’s artisanal diggers.”

“I believe in the positive energy of the

The government of Sierra Leone has announced the appointment of the Rapaport Group as the marketing and sales agent of the Peace Diamond. This 709ct stone, discovered by diamond diggers in the village of Koryardu, is the third-largest diamond ever found in Sierra Leone and the 14th-largest worldwide. The Peace Diamond is special because it is a development diamond. Over 50% of its sales value will directly benefit the community where it was discovered and the people of Sierra Leone.

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JEWELLEX AFRICA R100 000 PRIZE-WINNER ANNOUNCED

Maria Cambanos from Cambanos & Son Agencies was named the winner of the R100 000 Jewellex Africa prize by the Chairman of the event, Rowan Jacobson. The announcement was made on the last day of Jewellex in the Metal Concentrators coffee shop. The competition was open to business-owners, any managing member(s) and/or shareholder(s) of any business within the jewellery industry of SA. Entrants could enter during the days of the Jewellex exhibition, 8-10 October, by means of a business card. Only one entry per person was allowed.

The prize money must be used solely for the purchase of merchandise/services from an exhibitor(s) that exhibited at this year’s Jewellex show.

Peace Diamond and the great good it will do for the people of Sierra Leone. The lucky buyers of the stone and the resultant polished Peace Diamonds can take pride in knowing that they’ve created a better life for tens of thousands of people. This is a diamond that makes the world a better place. It has spiritual sparkle,” says Martin Rapaport, Chairman of the Rapaport Group.

The group is an international network of companies providing added-value services that support the development of ethical, transparent, competitive and efficient diamond and jewellery markets. Established in 1976, the group has more than 20 000 clients in over 121 countries. Its activities include Rapaport Information Services, providing the Rapaport benchmark Price List for diamonds, as well as research, analysis and news.

SA JEWELLERY NEWS – NOVEMBER 2017

JCSA COLLECTION AWARDS JEWELLERY DESIGN COMPETITION WINNERS ANNOUNCED

THE FULL RANGE OF GOODS AND

SERVICES BACKED UP BY EXPERT

Kgomotso Moloto from Keith White Design was named the winner in the CAD category, while Lumka Nonku Dhlamini, also from Keith White Design, received the award in the handmade category of the 2017 Jewellery Council of SA (JCSA) Collection Awards Jewellery Design Competition.

The prize-giving ceremony was held on 10 October, the last day of Jewellex Africa, at Johannesburg’s Sandton Convention Centre, where the Jewellery Manufacturers’ Association of SA (JMASA) Chairman, Colin

PRODUCT KNOWLEDGE

Campbell, announced the winners.

The JMASA, a division of the JCSA, invited all students, apprentices, designers and manufacturers to enter the competition by designing and manufacturing a ring that could be sold commercially. This year’s theme was “Jewellery for Him”, with two categories: CAD and handmade.

The category winners each received a trophy of excellence (sponsored by the Ekurhuleni Jewellery Project), 750 g of fine silver (sponsored by Cape Precious Metals), 250 g of Argentium silver (sponsored by Piyuve Jewellers) and free membership to the JMASA for one year, as well as free access to the JCSA Trade Test Certificate. Moloto also received a CAD designer toolkit, while Dhlamini received a jeweller’s bench toolkit with manufacturing-specific tools. Both toolkits were sponsored by Metal Concentrators.

Zanele Shongwe from Design @ 50 was the runner-up in the CAD category and Lincoln Mokoena from the Ekurhuleni Jewellery Project was the runner-up in the handmade category. Both received 250 g of fine silver (sponsored by Cape Precious Metals).

TAKE ADVANTAGE OF OUR DISCOUNTED PRICES ON BURS, DRILLS & SOLDERS DURING NOVEMBER 2017 WHILE STOCKS LAST

ALL SYSTEMS GO FOR VOD DUBAI INTERNATIONAL JEWELLERY SHOW With less than four weeks to go before the VOD Dubai International Jewellery Show kicks off in the Middle East, more than 500 jewellery brands are preparing to showcase their latest collections to the industry’s top international trade organisations, chambers of commerce, wholesalers, manufacturers, traders, retailers and high net-worth individuals. From the Middle East and Africa to Russia, India and Sri Lanka, leading brands will be flying in for the event.

The VOD Dubai International Jewellery Show team recently finished a successful trip to Saudi Arabia, where they received an extremely warm welcome from leading jewellery companies and industry insiders and hosted buyers ahead of the region’s premier trade-meets-consumer event débuting in Dubai in November. Starting in Riyadh and moving on to Jeddah and Dammam, the show representatives met more than 150 buyers.

The VOD Dubai International Jewellery Show will take place from 1518 November at the Dubai World Trade Centre.

Contact your Sales Executive to enquire about pricing

Jewellery Council

SA JEWELLERY NEWS – NOVEMBER 2017

of

South Africa

Cape Town: 021 551 2066 Johannesburg: 011 334 6263 Port Elizabeth: 041 365 1890 Durban: 031 303 5402 www.capepreciousmetals.co.za orders@capepreciousmetals.co.za

MARKETS

Business barometer A monthly survey conducted by SAJN among industry players (small and large) on a national basis.

100 %

RETAILERS UP

Foot traffic

50 % DOWN 5%

DOWN 18%

0 %

50

Watch sales

50 %

0

% SAME

DOWN 19%

% SAME

fine jewellery

bridal

9%

57%

WHOLESALERS

50 % 0

0

% SAME

General sales compared with last year this time

UP

0 %

MANUFACTURERS

DOWN 22%

85% UP

50 %

watches

17%

5% UP

50 %

UP

0 % Consumption of gold compared with last year this time

Best-selling diamond size

75 %

25 %

Consumption of platinum compared with last year this time

50

% SAME

25 % DOWN 54%

DOWN 23% UP

0 % Consumption of silver compared with last year this time

0

% SAME

0,5ct

UP

% SAME

DIAMOND DEALERS

% SAME

General sales compared with last year this time

25

SEP 2017 VS SEP 2016

100 %

General sales DOWN compared with 28% last year this time

50

% SAME

50 % DOWN 10%

UP

0 %

(Above): The above illustrates year-on-year statistics for the jewellery industry reflecting armed robberies, burglaries, armed night robberies and smash-and-grab incidents.

– All information supplied by the Consumer Goods Council

10

SA JEWELLERY NEWS – NOVEMBER 2017

DID YOU KNOW

Interesting facts 1

2

After being mined, diamonds are sorted into three categories, which are gem quality, industry quality and boart (which is used as an industrial abrasive).

Red beryl resembles a scarlet emerald (it is bright fire engine red) and was first found in 1904. Red beryls have been known to reach as much as $10 000 per carat for cut stones.

5

4

Rough moldavite specimens are also purchased by meteorite and mineral collectors. The best specimens are often purchased by collectors for a much higher price than they would have sold for if they were used in jewellery.

7

The archer's thumb ring was used to increase the accuracy and distance of an arrow. A curved ring made of stone was worn with the curved tip pointing towards the wrist between the thumb and the forefinger. Wealthier men wore archer's rings made of gold and inlaid with gems.

8

Ancient Hindu culture put importance on when to purchase a diamond; it had to be on a specific day or at a specific time. Part of that tradition has endured until today.

Folklore associates silver with the capacity to fight paranormal creatures like werewolves and vampires.

3

A law in 13th-century France decreed that only the king could wear diamonds

6

Citrine has a Mohs Scale Hardness of 7, meaning it is not easily scratched and is durable enough to avoid scratching and chipping during daily wear.

9

The diamond colour chart starts with the letter D. (There is no A, B or C.)

• For your weekly dose of interesting industry-related facts, visit: www.facebook.com/pages/SAJN/508328912586722 and “like” the SAJN Facebook page.

SA JEWELLERY NEWS – NOVEMBER 2017

11

BACK AT ITS TRADITIONAL VENUE, THE Sandton Convention Centre, this year’s Jewellex Africa opened its doors on 8 October.

Although feedback from last year’s show was mostly positive about its move to Gallagher Estate (the Jewellex Organising Committee had no choice but to move the event to an alternative location last year due to the Sandton Convention Centre being unavailable during those dates), all were in consensus that they preferred the usual venue. Exhibitors and visitors alike were also in agreement regarding the days of the show, which was held on a Sunday, Monday and Tuesday.

Attendance figures had not yet been released at the time of writing, but the Sunday certainly seemed very busy and a number of exhibitors commented that it was the best day (sales-wise) they had ever had at Jewellex.

“I'm delighted with results from this year’s show,” said Rowan Jacobson of CJR Gift Sales.

“When all was added up, it was the most sales we ever reflected at Jewellex.”

The recent Jewellex Africa 2017 showcased the latest the industry has to offer in terms of watch collections and clocks, fine jewellery, pearls and precious stones, machinery, accessories and services.

Variety and innovation a This year’s show saw a number of exciting new launches. To assist local jewellers with their jeweller’s permit applications, Metal Concentrators (MetCon) launched a permit drive which entails subsidising 50% of the fee payable to a MetCon-approved consultant for an application for a new or renewed jeweller’s permit. The sponsorship, which is limited to the

Image courtesy Geoffrey Flint

Image courtesy Geoffrey Flint

Image courtesy Geoffrey Flint

JEWELLEX AFRICA 2017: REVIEW

capacity and availability of consultants to assist applicants, will be valid for a 12-month period.

“Increasingly, MetCon is coming across jewellers who aren’t applying for or renewing their jeweller’s permits,” says Neville Crosse, CEO of MetCon. “This is of grave concern in an industry which is regulated by statute, because it means that many jewellers are exposing themselves to fines and penalties that could impact their livelihood. We realise that the application process for a jeweller’s permit can be tiresome and, in some instances, administratively complex for people who aren’t inclined to deal with the myriad of documents that are required for approval. Often this results in submissions that are incomplete and rejected for reasons that should be possible to resolve before submis-

One thing is certain: this year’s Jewellex Africa did not lack amazing show specials, inspiring jewellery designs, innovative incentives and incredible passion.

12

SA JEWELLERY NEWS – NOVEMBER 2017

JEWELLEX AFRICA 2017: REVIEW

sion, preventing frustration for all concerned.

“There are consultants available who can assist applicants to ensure that all the required documentation is in order before it’s submitted to the regulator. However, according to MetCon’s research into the use of consultants, applicants found the process to be expensive because it’s labour-intensive. Consequently, most applicants don’t use their services. This is why MetCon decided to sponsor the permit drive – in an attempt to help jewellers,” says Crosse.

To thank its clients for their support, BYL Diamonds launched its incentive programme, BYL Rewards, at this year’s Jewellex. “Loyal customers are an essential part of our business’s success and the BYL Rewards programme is our way of giving back and saying ‘thank you’,” says Omri Yedid Levi.

Jewellex also featured a number of inspiring and unique products and designs. Word clocks

by TimeBrandits show the time in words, rather than numbers. These exclusive timepieces, made in SA, also serve as art pieces and are ideal for adorning living spaces and offices.

Standard formats in gloss acrylic colour and titanium mirror finishes form part of the range, while customised and personalised options according to a customer’s needs are another unique feature of the range. Larger formats can incorporate branding to enhance corporate reception areas and boardrooms.

standards. “All raw materials used in the process are of the best quality,” says Camera.

The informative talks that were held during the show at the MetCon coffee shop were well attended and attendees complimented the Organising Committee on the variety and relevance of the discussions, as well as the knowledge of the speakers. These included Norman van Rooyen, owner of Jewellery Security Consultants, Annalize van Zyl, an international agent for Reed Exhibitions in SA, Anna-Mart Rossouw, owner of Paramount Consulting, Yvonne Shaff, Business Manager and Jacqui Myburgh-Chemaly, Editor-in-Chief of Business Day Wanted.

Jewellex Africa 2017 also showcased the creative works of some of the country’s up and coming young designers. The 2017 PPC Imaginarium jewellery category winning piece

by Zanele Vilakazi was on display at the SA Jewellery News stand, while the Jewellery Council of SA’s stand displayed all the finalists’ pieces from its 2017 Jewellery Council Collection Awards Design Competition.

Stands at this year’s show were spacious and well-laid out. Most exhibitors made a real effort in their presentations. Judging the 2017 Stand of the Year was Lorna Lloyd, CEO of the Jewellery Council of SA, Andrew Meyer, publisher of SA Jewellery News and Debbie Mouton, Chairperson of the Chevron Group.

The overall winner was Protea Diamonds, while Real Gold Wholesalers was the Standard Package winner.

One thing is certain: this year’s Jewellex Africa did not lack amazing show specials, inspiring jewellery designs, innovative incentives and incredible passion.

Image courtesy Geoffrey Flint

Image courtesy Geoffrey Flint

at this year’s Jewellex Africa

SA JEWELLERY NEWS – NOVEMBER 2017

Gage & Porter launched its collection of Minaudière bags – the first of its kind from a South African designer, entitled “The Originals” – at the show. The luxury accessories are at the forefront of a trend gaining international attention, where jewellery designers become handbag designers.

Danielle Camera, founder and Managing Director of Gage & Porter, spent the past 10 years actively involved in the South African jewellery industry. This gave her access to some of the country’s most respected and talented craftsmen, ensuring bags that are handcrafted to the highest international

13

RETAIL CORNER

A monthly column written by industry expert Dr Petré Prins.

HUNDREDS OF YEARS AGO, the term “red tape” referred to the red ribbons used to bind up important legal documents. Today, the term implies bureaucratic waste and inertia and relates to the myriad of rules, regulations and procedures that impose a compliance burden, but are not able to deliver the intended objectives.

During the past 20 years, our government encumbered our industry with an increase in regulations – some impossible to comply with.

It impelled some established firms to relocate to neigbouring countries and drove many of our smaller businesses underground. Diamondcutters and jewellery manufacturers struggled with licences, permits, BEE compliance and an ineffective supply chain. The result: 80% of diamond jewellery sold in the “Land of Gold and Diamonds” are imported. Tragic, but true.

Some would say the demise of our diamond and gold manufacturing businesses is directly the result of excessive regulation.

Regulation starts with a noble objective.

Laws are passed to prevent a wrong and then they are implemented. Enforcing them is not cheap and thousands of people are engaged in regulatory activities. To them, their jobs are sacred and a source of income, while those who are regulated see only a mass of red tape that eats into their bottom line.

Our current regulatory systems, unfortunately, do not promote innovation and entrepreneurship and are unfit for an industry that is becoming increasingly complex. New and muddled regulations from the Fiscus, the Diamond and Gold Regulator, our SETA the MQA, the advent of synthetics and challenges posed by the Internet complicate our businesses. The pace of technological changes is more rapid than ever as new products, business models, platforms and applications flood the market. Lawmakers can never hope to regulate them all.

Diamond and gold companies, from miners and manufacturers to retailers, are certainly capable of creating in-house rules. In fact, no diamond/gold company can survive without strict control over its production, inventory and sales. Regulation is part of our businesses, but ineffective governmental red tape is our

14

The tape that ties bogey-man: it restricts operations, increases costs and takes the guts from entrepreneurs.

Our lawmakers are insensitive to the impossibility of compliance with some of their rules.

For example, jewellers are required to obtain a second-hand licence to serve a client who wishes to trade in or sell an old diamond. Also, the jeweller must obtain identity documents

from the owner and keep track of every second-hand diamond that comes from a client’s ring, and when he puts these diamonds in rings and re-sells them, he must again obtain similar documents from the buyer. This is completely impracticable. Most jewellers will not apply for a second-hand licence, so they escape regulation. Those who wish to comply and trade with a second-hand licence will be visited by the police, as per regulations, and will have to appoint staff and incur costs to trade legally.

Laws governing our sector have become too prescriptive for an industry as complex as ours and are bogging us down.

The best way to respond to our increasingly complex world is to make the rules simpler.

When laws become too convoluted, you cannot reform the system – you have to scrap and rewrite it. Just ask Napoleon!

Laws governing our sector have become too prescriptive for an industry as complex as ours and are bogging us down.

SA JEWELLERY NEWS – NOVEMBER 2017

COINS

The World of Leading Bullion Coins, a reference book giving a detailed, historical account of each mint and sponsored

by Rand Refinery, the Perth Mint, the Austrian Mint, the Royal Canadian Mint and the Royal Mint, was recently On 24 October 2017, Rand Refinery, the Perth Mint, the Austrian Mint, the Royal Canadian Mint, the Royal Mint and Metals Focus announced the launch of The World of Leading Bullion Coins at an event at the LBMA/LPPM Conference in Barcelona. “We’re grateful for the support of these sponsors in helping Metals Focus to produce this reference book,” said Philip Newman, Director of the independent precious metals consultancy.

The book offers a detailed, historical account of each mint, including stunning product photography of the full suite of their coins available for the investor community. Together, these represent the vast majority of those traded in the international market. The book also explains why gold continues to resonate with the investor community and explores other ways in which coin investors can gain exposure to precious metals.

In addition to gold, The World of Leading Bullion Coins charts the development of silver bullion coins, the more recent addition of platinum and, finally, palladium coins. Together, these help coin investors gain exposure across the precious metal complex. Overall, many of these coins have had a notable bearing on consumption. Taken together, modern-day gold bullion coins have consumed some 5 000 tonnes (160 million ounces) of gold, while silver bullion coins have accounted for around 33 000 tonnes (over one billion ounces) of silver demand.

Image courtesy Rand Refinery

launched by Metals Focus.

The World of Leading Bullion Coins book launch

16

The modern era of the bullion coin as an investment began in 1967 with the launch of the 22ct gold bullion Krugerrand. During the late 1970s and 1980s, the sector quickly grew to include the Canadian Maple Leaf (1979), the Chinese Panda (1982), the American Eagle (1986), the Australian Kangaroo and the UK Britannia (1987), as well as the Austrian Vienna Philharmonic (1989). In addition, the British Sovereign was re-launched in 1957, in response to the popularity of the R1 and

R2 gold coins struck in SA (which were first issued in 1952).

The fact that government-minted bullion coins are still relevant to investors and collectors today is testament to the advantages which their ownership can bring as a portable store of value. These include direct exposure to the underlying precious metal value, the integrity of the state-owned mints which produce them, the legal tender status of many bullion coins and the ease with which they can be purchased and sold as the need arises.

“These characteristics help explain the surge in investor demand for bullion coins during and since the last financial crisis, as investors shifted their focus towards precious metals in physical form,” commented Newman.

For a hard copy of the book, one of the sponsoring mints (including Rand Refinery) can be contacted. A flipbook and PDF will also be available to view on many precious metals websites, including www.metalsfocus.com.

SA JEWELLERY NEWS – NOVEMBER 2017

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WATCHES & CLOCKS

World’s biggest timep exhibition presents minimalist styling The global outlook showed improvement at the 36th Hong Kong Watch & Clock Fair. Martin Foster FBHI reviews industry trends at the event.

20

THE 36TH HONG KONG WATCH & CLOCK Fair (HKW&CF) is the biggest timepieceonly event of the major fairs (HKW&CF, Baselworld and the Geneva Salon) and sets the pace for the global market in the lower to

by about 150 of the prestigious watch brands and designer collections in five themed zones: World Brand Piazza, Chic & Trendy, Craft Treasure, Renaissance Moment and Wearable Tech. A huge range of pricing, quality and

mid-range watches.

Around the fair there was bling, dazzle and glitz a-plenty, combined with variety and a full range of quality and price-point categories.

The HKW&CF opened in the HK Convention & Exhibition Centre and was attended

fashion categories could be found in these aptly named salons.

Last year in these pages, we alluded to nervousness in the air deriving from declining watch exports published by the Federation of the Swiss Watch Industry FH.

SA JEWELLERY NEWS – NOVEMBER 2017

WATCHES & CLOCKS

But there is now a feeling of relief in the air, as these market waves appear to have bottomed out. Instabilities remain, but with positive direction.

The Richemont luxury group reported that. its sales for the five months ended 31 August 2017 increased by 12% at constant exchange rates and by 10% at actual exchange rates. The strong performance in Asia Pacific was supported by doubledigit increases in most markets, including China and Hong Kong.

In its half-year report, the Swatch Group showed “sales growth of +2,9% at constant rates in the watches and jewellery segment (excluding production).

“There is a positive outlook for the second half of 2017, with many new product launches. Good development in production will mainly profit from the growth of our own brands, not only in value, but also in volumes.”

These reports are important not just for the luxury segment. Although the market has fractured into distinct price-point segments over the past 30 years, the whole industry is affected by market circumstances. As we know, a rising tide will lift all the boats, but the reverse was very much the case just a year ago.

Wearable tech (WT) is the new name embracing smartwatches which have evolved into something much broader than a timepiece with addons. Indeed, for most WTs now, such as Apple Watch, showing the time is a very minor part of the functionality.

WTs range from children’s toys to a trackable children’s watch and full health reporting and communication functions. While most rely on smartphones for connectivity, the very latest offerings are independent of even this platform.

WT at the HKW&CF Salon de TE presented a vast selection of branded smartwatches, with the latest technologies and functionali-

ties. Cupid Memory from Hong Kong brings its namesake collection, whose patented strap is installed with near-field communication technology as well as a QR code. Users can tap the watch with an NFC-enabled mobile phone or scan the QR code with the phone to read messages previously stored in its mobile application.

A wide range of attention-getters amazed attendees at the HK fair.

However, two stood head and shoulders above the rest: fine German watchmaker NOMOS, whose trademark is a special brand of elegance based on minimalism and the diamond-set Billionaire Tourbillon Watch from Jacon & Co, which sells for an eye-watering US$20,4 million. Apart from the beautiful skeletonised tourbillon movement, the Billionaire Tourbillon Watch features 239 emerald-cut diamonds, including one single 3ct stone, with the total weight amounting to 260ct. Very deep velvet pockets are needed here.

Every year Chinese watch production shows a growing understanding of how to

compete with the best European luxury makers. At this year’s HKWC&F, we noted the quality of high-end manufacture and advances in artistic subtlety from this sector.

The HKW&CF is for trade visitors only, though the last day of the fair is open to all comers. So come and enjoy this biggest of horological fairs in the wonderfully vibrant city of Hong Kong, the doorstep into China.

piece

Last year in these pages, we alluded to nervousness in the air deriving from declining watch exports published by the Federation of the Swiss Watch Industry FH. But there is now a feeling of relief in the air, as these market waves appear to have bottomed out.

Instabilities remain, but with positive direction.

SA JEWELLERY NEWS – NOVEMBER 2017

21

BRAND MANAGEMENT

Jenny Woolf Jewellery showcases latest charm collections at Jewellex Jenny Woolf Jewellery is an exciting new face on the South African jewellery scene. Returning to Cape Town after 17 years in the USA, and with many years of jewellery design experience behind her, Woolf decided to start her own business. With master jeweller Greg Abrahams by her side, she went into production in 2015.

“Africa being the magical place it is, Jenny Woolf Jewellery currently produces two ranges of sterling silver charms

which are as rich in symbolism as they’re beautiful,” says Woolf. “Tribal Traditions covers our very own iconic African imagery and acknowledges the aesthetic inherent in indigenous African culture, while the African Wildlife theme is centred around the Big Five and includes an ever-expanding list of our exquisite menagerie of wild creatures.

“Both ranges are aimed at the affluent foreign tourist and proud-tobe-South-African locals,” says Woolf.

Best-seller chrono reinvented Luxury Swiss watch brand Raymond Weil has redesigned its Freelancer chronograph, which now has an even more powerful and sophisticated look, expressing the youthful and dynamic spirit for which the range is renowned.

Aesthetically, it is stylish in its 42,5 mm steel case which is water-resistant to 100 m. Its robust construction is geared for intense activity, which demonstrates the brand’s watchmaking knowhow. The movement is self-powered mechanical with a 46-hour power reserve and the model

comes in several styles, featuring a silver-toned or black dial teamed with its steel case and bracelet or a leather strap.

It has screw-down, tachymeter or engine-turned options and its chronograph complication ensures that the timepiece is the ideal companion for any occasion.

The introduction of this new chronograph to the successful Freelancer collection reflects the expertise and experience of the third-generation, family-owned brand which perpetuates the name of its entrepreneurial founder.

Tudor announces Lady Gaga as new brand and campaign ambassador Outrageously daring pop icon Lady Gaga has joined the Tudor family. “Notorious for being provocative both on and off stage and leading a foundation committed to empower youth, she personifies the very #BornToDare spirit Tudor lives by since its creation,” says the watch brand.

In 2017, Tudor launched a new campaign with the “Born to Dare” signature. It reflects both the history of the brand and what it stands for today. “Daring individuals have long chosen Tudor while achieving the extraordinary on land, ice, in the air and underwater,” states the brand.

“It also refers to the vision of Hans Wilsdorf, the founder of Tudor, who manufactured Tudor watches to withstand the most extreme

22

conditions and most daring lifestyles.”

“Born to Dare” tells of the singular approach for which Tudor is known, having pioneered major trends within the watchmaking industry, including fabric straps and vintage-inspired models. The Tudor “Born to Dare” spirit is expressed in a campaign manifesto and supported globally by ambassadors whose life achievements directly result from a daring approach to life.

Tudor is a Swiss-made watch brand, offering mechanical watches with sophisticated style. The origins of the Tudor brand date back to 1926, when “The Tudor” was first registered on behalf of Wilsdorf. He created the Montres Tudor SA Co in 1946 to offer watches with the quality and dependability of a Rolex, at a more

accessible price point. Today, the Tudor collection includes flagship models such as Black Bay, Pelagos, Glamour and Style. Since 2015, Tudor has offered mechanical manufacture calibres.

SA JEWELLERY NEWS – NOVEMBER 2017

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PRODUCTS, TOOLS & TECHNOLOGIES: JEWELLEX AFRICA 2017

Innovative machinery and software on display This year’s Jewellex Africa saw a number of groundbreaking software solutions and products on display, including Gemewizard, JewelTech Software, EnSet Original and the latest-generation PUK4.1.

Fine detail 3D printing 3D Wax Worx, the reseller and service agent for Solidscape in SA, had the latest S350 and S370 on display at this year’s Jewellex Africa.

The high-precision wax model 3D printers are built exclusively for jewellers and

create ultra-accurate, directly castable wax models with complex geometries, clean burnout and superior surface finish.

“These are our most reliable 3D printers to date,” says Farell Pillay of 3D Wax Worx.

Redesigned to make high-end custom jewellery production processes more efficient for jewellery manufacturers, service bureaux and investment casting companies, Solidscape’s S300 series’ re-engineered material delivery system, temperature control system and tank level measurement with 100% increase in capacity contribute to the overall reliability.

“User interface and software improvements also mean overall increased reliability,” explains Pillay. “Furthermore, its redesigned delivery system improves performance and enhances assembly processes, while its advanced hardware refinements make the S300 series easier to use and service.”

Visual retail shopping a reality With the introduction of Countersketch, visual retail shopping has become a reality, making sales staff the new CAD designers.

“No training is required and it’s easy to learn and use,” says Eve Scholtz of Digital Wax. Countersketch is a library of completed 3D CAD files that can easily be changed and customised into more than 500 000 different variations.

“It’s very easy to export and print.

You no longer need to carry physical stock – you now have all the latest trending designs in your visual jewellery store,” says Scholtz.

Money- and time-saving solutions “In our current economic environment, it’s important to do everything we can to save money and time,” says Quintin le Roux of JewelTech. “At JewelTech, we offer a number of solutions.

“Paper and ink have become very expensive. Our customers save a lot of money by using an Epson slip printer instead of a traditional A4 or A5 laser printer,” says Le Roux.

JewelTech has designed a new layout that fits on the Epson printer model TM20ii. The printer is a once-off purchase and the paper costs a mere R14 per roll. “This allows our customers to print more than 400 invoices on a single roll of paper – and they never have to buy printer ink again.”

Landline and cellphone costs have also become a great expense for businesses. “By

SA JEWELLERY NEWS – NOVEMBER 2017

using VoIP phones, our clients save 30-40% on their current phone bill,” says Le Roux.

JewelTech offers customers the option of buying or renting a VoIP phone, depending on their needs – and there are no contracts.

The line rental is R295 per month, after which calls cost an average of R0,35 per minute.

“VoIP phones work differently from traditional phones,” explains Le Roux. “For example, if a business has five phones, it will be able to receive three phone calls while making another two calls at the same time.”

VoIP phones come with voice mail and call forwarding.

JewelTech also offers a built-in text messaging system that stores every message sent – the time, the content and the name of the consultant sending the message.

“We further confirm that the text message was delivered and have pre-written messages to help save time and avoid spelling errors,” says Le Roux. “Our customers can also send a sale or promotional message to all their clients at the click of a button at a cost of only 35c per message.”

25

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LITTLE GEMS

Brooching the subject The brooch is one of the oldest forms of personal adornment, though it’s currently fallen out of favour (except among the British royal family). Its origins date back to the Bronze Age, but it didn’t start out as a decorative accessory – rather, it was as a functional item. Alice Weil wonders why it is no longer popular.

MILLENNIA AGO, HUMAN beings identified a need to secure animal hides to their bodies. The first documented “brooches” used to do this were created from thorns and pieces of flint, with the pins made from metal.

By the Byzantine period, these devices had become more ornamental, worn prominently at the closure of a shawl or scarf, progressing into more decorative patterns, rather than being merely functional.

In the early part of the medieval period, they became even more ornamental, appearing as a long pin which passed through a metal ring, but did not puncture the cloth.

They then evolved into more elaborate designs to accessorise, rather than hold together garments. The Celts and the Vikings used them and both male and female Vikings wore them as part of their everyday apparel. They were used as cloak-fasteners and designed according to a strict code of embellishment, depending on the wearer’s social rank.

In Georgian times, brooches were items which only the wealthy could afford and were often bequeathed in a will to be distributed to family members. They were generally oval and under glass or cased in ivory.

The Victorian era saw brooches come into their own as hugely embellished jewellery items. They were crafted from sheets of silver with rose and yellow gold which were given as keepsakes. Decorated with love birds or double hearts, they were known as love or sweetheart brooches. Cameo brooches are generally associated with Queen Victoria and carved from hard stone or sheets. She was very fond of them and brooches in this period

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frequently featured likenesses of herself or Prince Albert. Equally popular were Victorian diamond-set star brooches, which can still be found today in antique shops. This was an age of excessive sentimentality in which brooches assumed intricate symbolic meanings.

Mourning brooches, generally associated with Queen Victoria, were worn during be-

reavement and reached the peak of their popularity during her reign, in the late 18th and early 19th centuries. They were black jet, preferably sourced from the shores of Whitby, and often incorporated a lock of hair of the deceased in a compartment at the back, as well as seed pearls, representing tears.

During the reign of Victoria’s son, Edward VII, brooches were feather-shaped, known as aigriettes. They were set with diamonds or garnets in silver or silver-topped gold and included cameos. Edward’s beautiful consort, the Danish-born Queen Alexandra, who was a fashion icon of that period, wore small brooches in her upswept hair (forever known as the Edwardian style).

Following the discovery of diamonds in SA, these stones were considered “must-haves” by the upper British classes. A new trend in the 1920s and 1930s was dress clips. They could be worn either as a large brooch with a mechanism at the back or detached and worn separately as clips attached to a neckline, or pinned to the straps of a ballgown. Many of those in the early Art Deco period were designed in white gold or platinum, or set with precious gems. Throughout the 20th century, jewellers such as Cartier, Van Cleef & Arpels and Tiffany designed them.

The British royal family has retained its passion for brooches. No matter what items from her fabulous collection of jewels she is wearing, Queen Elizabeth II seldom appears without a brooch on the lapel or collar of her jacket or coat. One of her favourites was given to her by Lady Jardine and is known as the Jardine Star.

Another favourite of the Queen is the Williamson brooch. Designed by Cartier, it features a rare pink diamond, set at its centre and said to be among the rarest of its kind.

The famous Williamson pink 54,5ct stone in the rough was found in 1947 on the surface under a baobab tree by two local boys at Canadian-born Dr John Williamson’s mine in then Tanganyika (now Tanzania). According to legend, when Williamson heard of the engagement of Princess Elizabeth to Lieutenant Philip Mountbatten, he decided to give it to her as a wedding gift. He duly sent it to London, where it was cut to reveal a gem of 23,6ct and set with baguette diamonds in a brooch the following year, in the shape of a jonquil.

Another brooch in the Queen’s jewellery collection originated from a pear-shaped 94,4ct diamond suspended from the squarecut 63,6ct diamond of her grandmother, Queen Mary. Fondly known as “Granny’s chips”, this item also features the Cullinan III.

SA JEWELLERY NEWS – NOVEMBER 2017

“The hardness of a diamond is part of its usefulness, but its true value is in the light that shines though it.”

B.K.S Iyengar

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