DECEMBER 2014
south african jewellery news
The industry's only trade journal
The oldest gem of all The year that was PlatAfrica 2014: Chinese bridal and coming-ofage jewellery
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The Gold Loan Scheme has been set up to provide working capital loans to gold jewellery manufacturers. The working capital loans under the Scheme are provided at a fixed interest rate of 3% per annum. Visit idc.co.za for more information “Jewellery designed and manufactured by students from the University of Johannesburg - Department of Jewellery Design and Manufacture.“
towards full-scale industrialisation and inclusive growth
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
c ntents
Advertising Sales: Tanja Jordaan
16. PLATAFRICA 2014
Cell: 083-268-6153
Chinese bridal and coming-of-age jewellery
E-mail: adsales@isikhova.co.za Advertising Sales Representative (India):
19. THE YEAR THAT WAS: DIAMONDS
Bhupal Potdar Cell: 91-982-115-1035 Email: bhupalpotdar@gmail.com Advertising Sales Representative (Hong Kong): Maud Errera E-mail: maud@lni.com.hk Designer: Joanne Brook 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,
7. News • Christie’s achieves highest total ever for jewellery auction • New iPhone app launched • World Diamond Council names Patricia Syvrud as Executive Director • De Beers and NUM sign landmark three-year wage agreement • Jewellery Manufacturers’ Association of SA introduces indentured membership
Johannesburg, South Africa.
• Pandora unveils Disney collection
27 Panners Lane, Riverclub, Sandton, South Africa.
• GIA field gemmologists gain insight into Zambian emerald mining
Website: www.isikhova.co.za Chief Executive Officer: Andrew Meyer E-mail: andrewm@isikhova.co.za
Ernie Blom, President of the World Federation of Diamond Bourses, reflects on events in the global diamond industry over the past year
21. THE YEAR THAT WAS: JEWELLERY According to Lorna Lloyd, Chief Executive Officer of the Jewellery Council of SA, the jewellery industry has continued to experience tough market conditions due to various economic factors
• Rapaport calls for end to over grading of diamonds
Chief Financial Officer: Imraan Mahomed E-mail: imraanm@isikhova.co.za Printing: Colors
12. BRAND HISTORY Hamilton: the need for punctual timekeeping
Banking Details: Isikhova Publishing & Communications CC Bank: Standard Bank, Sandton, South Africa Branch Code: 01-92-05 Current Account Number: 4209 6822 9
22. Brand Management • Azzaro’s remarkable Heritage • New version of an old favourite • Breguet awarded prestigious prize • Caran d’Ache’s limited-edition Crysta • A watch like no other • RSW’s ode to the Chasseral region
Official Journal of the Diamond and Jewellery Federation of South Africa. Website: www.jewellery.org.za
SA JEWELLERY NEWS – DECEMBER 2014
The oldest gem of all
SOUTH AFRICAN JEWELLERY NEWS
DECEMBER 2014
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© 2014. 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
The oldest gem of all
On the cover PlatAfrica has become synonymous with excellence in platinum jewellery design and
The year that was PlatAfrica 2014: Chinese bridal and coming-ofage jewellery
manufacture and is one of Anglo American Platinum’s key beneficiation activities. For this year's competition entrants designed and manufactured bridal jewellery or pieces to celebrate coming of age for the burgeoning Chinese market.
5
NEWS
Patricia Syvrud named as WDC Executive Director The World Diamond Council (WDC) has named Patricia Syvrud, founder and President of Joia Consulting, LLC, as its first Executive Director. Syvrud will report to the Executive Committee of the WDC Board of Directors and will
assist its President. She will be responsible for representing the organisation in the Kimberley Process, as well as providing it with overall leadership and strategic direction. The WDC board appointed a Screening Committee who reviewed the large number of applications for the Executive Director’s position from around the world. Interest in it was high, with many high-level applicants, for which the board was grateful.
“Patricia’s breadth and depth of knowledge of the jewellery industry, as well as her previous experience in working with non-profit and international organisations, make her an obvious choice for the position,” says Edward Asscher, WDC President. “The entire board sees this appointment as further professionalising the WDC and looks forward to working with her to continue enhancing our credibility in the international arena.”
Insights into Zambian emerald mining In September 2014, a team of Gemological Institute of America (GIA) field researchers journeyed to Zambia to collect emerald samples for the institute’s gem identification database and to document the current state of Kagem, the world’s largest emerald mine, located in the Kafubu mining area. Since Gemfields, the publicly-traded gemstone mining company, acquired the open-pit mining operations six years ago, ore mining has increased from 3 000 to 8 000 tons per month and rock-handling has increased from 125 000 to 750 000 tons per month. Field gemmologists Vincent Pardieu and Andrew Lucas, Gems & Gemology (G&G) Techni-
cal Editor Tao Hsu, videographer Didier Gruel and expedition guest Stanislas Detroyat made up the research team. “I’ve visited numerous coloured gemstone mining operations throughout the world, but one of this size, modernisation and organisation really gives a visual of the changes that may be coming to our industry,” said Lucas. “Standing in front of the pit is like looking at a geological textbook,” added Detroyat. By combining an understanding of the geology with professional mining methods, Gemfields has turned Kagem into a profitable operation. In July 2009, its first high-grade rough emer-
ald auction achieved US$4,4 million and in February 2014, US$59,31 million. Along with a standardised grading sys-tem for emerald rough and an auction platform, environmentally sound practices and community outreach programmes have revolutionised the mine-tomarket gemstone business. In-pit dumping ensures that the environmental liability is kept as low as possible, while increased exploratory drilling, mapping of pegmatite. and talc magnetite schist, resource calculations and mining software have improved the technical output of the mine.
JCSA introduces indentured membership The Jewellery Council of SA (JCSA) has implemented a new category of membership through its manufacturing division for oneman businesses, sole proprietors and traders, specifically for PDIs, as well as students who wish to become part of the industry community. This new category of membership is called indentured membership and costs R150 per annum. “These new members will receive all the benefits of the general membership, except for
SA Jewellery News, which they can subscribe to directly with the publisher, Isikhova Publishing,” says Lorna Lloyd, JCSA’s CEO. “We’re looking forward to welcoming these new members into the fold of the council and hope they’ll participate in the various committees and take advantage of business opportunities offered.” For more information, contact Bavina Vassan on tel: (011) 484-5528 or e-mail: bavinav@ jewellery.org.za.
Honorary Fellowship for Cavalieri CIBJO President Gaetano Cavalieri has been named an Honorary Fellow of the Gemmological Association of Great Britain (Gem-A) in recognition of his outstanding contribution to the field of gemmology. The award was made by Gem-A President Harry Levy during the association’s graduation ceremony at Goldsmith’s Hall in London on 3 November. With its goal of advancing the science and practice of gemmology though education and training, Gem-A is the world’s longestestablished provider of gem and jewellery education, with its Gemmology Diploma being a direct descendant of the gem course which was proposed for the UK jewellery trade in 1908. Today the organisation provides courses in gemmology and diamond grading in some 25
countries around the world and also produces two trade publications, Gems & Jewellery and The Journal of Gemmology. “Gaetano has been a significant figure in shaping the industry over the past 10 years,” said James Riley, Gem-A’s CEO, “obtaining UN recognition of CIBJO and its associated bodies, and ensuring that the voice of the jewellery industry is represented on the world stage. “Gem-A is delighted to be able to award Cavalieri an Honorary Fellowship in light of his efforts on behalf of both the association and the wider industry. The work he’s done on issues of ethics and social responsibility is unparalleled and we’re certain that his continued work will strengthen the industry and leave a lasting legacy we can all be proud of,” Riley added.
De Beers and NUM sign wage agreement De Beers Consolidated Mines (DBCM) announced the conclusion of the annual wage negotiations with the National Union of Mineworkers (NUM). The parties signed a three-year agreement (2014, 2015 and 2016). This is the first time a three-year agreement has been concluded between the two organisations. The De Beers Group of Companies has now concluded three-year wage agreements across southern Africa, following the earlier ones in Botswana (Debswana) and Namibia (Namdeb). De Beers’ employees in jobs falling within the union bargaining unit will receive a 9% increase back-dated to 1 May 2014 and in 2015 and 2016 they will receive a subsidy towards homes they own in the areas where they are employed. Phillip Barton, CEO of DBCM, congratulated both negotiating teams and the employees at the Kimberley (Northern Cape), Voorspoed (Free State) and Venetia (Limpopo) mines, as well as at De Beers Sightholder Sales SA (the Kimberley operation sorting, valuing and undertaking diamond beneficiation initiatives),
on the signing of the agreement. “The discussions were undertaken over several months in a peaceful fashion within the framework of SA’s progressive labour legislation,” he says. “De Beers endeavoured to offer a mutually acceptable agreement, both in wage terms and in respect of benefits. I’m proud that we South Africans have shown that we can settle such matters amicably after sometimes robust negotiations recognising that we’re all on a journey to secure our common future, as a company, an industry and a country. “The package will reward and, I hope, incentivise all employees who’ve already laid a good foundation for achieving many of the goals we set ourselves for 2014.” Wayne Smerdon, leading negotiator for the company, notes: “We believe the outcome of the negotiations meets more than the wage aspects necessary to retain and attract employees in the bargaining unit, as it includes benefits which will improve the quality of life of miners.”
SA JEWELLERY NEWS – DECEMBER 2014
New iPhone app launched The Rapaport Diamond Trading Network has launched its new and improved RapNet iPhone app. It allows RapNet members to conduct their business on the go. The app now includes advanced searches, saved searches and diamond-tracking. Settings are synced between the app and the desktop, allowing seamless transitions between mobile and the office. “Our commitment to making RapNet accessible from everywhere is evident in this completely fresh RapNet offering,” says Saville Stern, Chief Operating Officer of RapNet. “RapNet members will be able to use it or the browser interchangeably and seamlessly, allowing for a superior trading experience. We’re pleased to offer our community this advanced app and we want to let our Android-using members know that we’re working hard on an Android app that we hope to release in the near future.” The RapNet app is available from the Apple App store.
Pandora unveils Disney collection Pandora Jewelry unveiled its Disney collection of original pieces that was created in collaboration with Disney Consumer Products. The assortment was inspired by some of Disney’s characters and will be available at Pandora’s concept stores, in addition to Walt Disney parks and resorts. The new collection includes sterling silver and 14ct gold charms inspired by Mickey Mouse and Minnie Mouse, including sterling silver character dangles which can be added to a Pandora bracelet or worn on a necklace. ”Pandora’s new Disney collection will excite consumers and give them a new way to inspire others,” says Beth Moeri, Chief Merchandising Officer of Pandora Americas. “The new pieces celebrate those whimsical moments that can make the everyday feel magical.” Josh Silverman, Executive Vice-president of Global Licensing for Disney Consumer Products, says: “Pandora’s beautiful jewellery collection featuring Mickey and Minnie is a great way for consumers to be stylish and on trend, while celebrating the characters they know and love.” – Rapaport
WDC meeting in Antwerp: looking to the future From 28-30 October, members of the World Diamond Council (WDC) assembled in Antwerp for the 2014 Annual General Meeting. The discussions focused on issues associated with the Kimberley Process (KP), 14 years after its establishment, and the role of the WDC in relation to the risks facing the KP. The Antwerp World Diamond Centre (AWDC) was very proud to host an event of such importance. Upon his election as new President of the WDC, Edward Asscher stressed the need to reform it into a transparent, professional and truly representative organisation for the industry. During the general meeting, WDC members took the lead in discussing diamond industry issues currently at stake and agreed on a number of steps in these matters. Topics included the various ethical, legal and financial issues brought forward by the KP, including the content of the letter sent by the FATF to the KP chair. “The AWDC is very proud to host this important event. The WDC has done much good for the diamond industry and the support of the KP. But continuous evaluation and further professionalisation are key to meeting the challenges of the future,” said Stéphane Fischler, President of the AWDC.
SA JEWELLERY NEWS – DECEMBER 2014
NEWS
Christie’s achieves highest total ever for jewellery auction On 11 November, Christie’s Geneva sale of Magnificent Jewels achieved US$150 216 738, selling 89% by lot and 94% by value, realising the highest total for any Magnificent Jewels sale in the world. This extraordinary result, combined with the Patek Philippe 175 and the Important Watches sale, concludes Christie’s 2014 autumn sale week with a grand total of US$185 011 232, the highest total since the first Christie’s auc-
tion in Geneva in 1969. The Blue Belle of Asia realised US$17,2 million, establishing a new record price for any sapphire sold at auction. “Christie’s Geneva welcomed over 600 registrants to the sale from over 30 countries,” says Rahul Kadakia, International Head of Christie’s Jewellery Department. “We’re extremely proud that the Blue Belle of Asia established a new world
record for any sapphire sold at auction.” The JAR “Parrot Tulip” bangle bracelet realised US$3 595 853 and established the second-highest price for a creation by JAR. Jewels from major collections also realised exceptional prices, such as the Art Deco natural pearl and diamond necklace from the private collection of the Baroness Edouard de Rothschild, which sold for US$5 195 369.
Africans should leverage natural resources Noting the responsibility of the jewellery industry towards society, CIBJO President Gaetano Cavalieri has recognised the need for African diamond-producing countries to leverage their natural resources into sustainable economic development for their citizens. He was speaking during the opening day of the Zimbabwe Diamond Conference in Harare. “These are historic days for the diamond industry. Whereas once the compass pointed north to London, to-
day it points south. Quite possibly it always should have pointed in that southerly direction, but now there's no question that it does,” Cavalieri said. Zimbabwe and other Africanproducing countries understand well the importance of translating demand for luxury products into economic opportunities in developing countries. “While jewellery is a non-essential item, in certain parts of the world the jewellery industry is an es-
sential business sector, providing a livelihood and looking after the well-being of millions of ordinary people. Our obligation is to ensure our activities provide them with sustainable economic opportunities that will help secure the future of generations to come,” he stated. The gemstone and jewellery industries have obligations to care for their dependants, extending back to the very start of the chain of distribution, added Cavalieri. “In the gemstone and mineral sectors, stakeholder sustainability means investing in communities so that their natural resources will continue paying dividends long after the resources themselves are depleted,” he said.
Rapaport calls for end to diamond over-grading
Contact Adri Viviers on 084-261-1805 or sajewellerynews@isikhova.co.za.
Martin Rapaport, Chairman of the Rapaport Group, has released a comprehensive editorial entitled Honest Grading which discloses the over-grading of over 100 000 diamonds, valued at more than $1 billion. Rapaport calls on the legitimate jewellery trade to reject those selling overgraded diamonds which fool consumers into believing that the diamonds they are receiving are better than they actually are. The article, which was recently e-mailed to over 77 000 members of the diamond trade, declares that it is an unfair trade practice to grade diamonds using Gemological Institute of America (GIA) grading terminology while applying alternative standards that over-grade the diamonds. It recognises the GIA grading standard and insists that suppliers provide full refunds in the event that diamonds regraded by the GIA are more than one colour or one clarity grade below the grade indicated when sold. Furthermore, the article rejects the statement by the laboratory concerned, a primary source of over-graded diamonds, that there is no international standard for diamond grading. “The over-grading of diamonds is a legal and ethical issue challenging the legitimacy of the diamond and jewellery trade. Consumers must be warned not to trust misleading diamond grading reports and those who sell them. Suppliers must be held responsible for the quality of the diamonds they sell. The diamond trade must prioritise the protection of consumers above profits,” says Rapaport.
SA JEWELLERY NEWS – DECEMBER 2014
Israel Diamond Week very successful Both the Israeli and the American diamantaires who participated in the Israel Diamond Week at the Diamond Dealers Club (DDC) in New York City were in complete agreement: the third edition of the event was a great success. David Lasher, the DDC’s MD, estimates that some 700 buyers attended, hailing not only from the New York region, but from across the USA, including Chicago, Los Angeles and Miami. He notes that the biggest turnout occurred on the first day of the event, with the number of buyers significantly higher than at the previous event in November 2013. This year, too, more than 100 Israel Diamond Exchange (IDE) members registered and travelled to the Big Apple to exhibit their goods on the DDC trading floor, alongside some 70 colleagues of the organisation. IDE President Shmuel Schnitzer and DDC President Reuven Kaufman are both pleased with the results of the show. “People told me that this year’s show was even better than the two we held previously. There was a great deal of foot traffic. This is a very encouraging sign at this time,” says Kaufman. The end of the second day of the show was marked with a short ceremony. Kaufman praised his Israeli counterpart Schnitzer, saying he was “smart and highly dedicated to the Israeli diamond sector and to the people of Israel”. He presented Schnitzer and IDE General Manager Moti Besser with awards of recognition for their work. Schnitzer, in turn, praised the DDC for the organisation of the event. “It seems everyone’s happy and I’m very much looking forward to these types of shows in the years to come. The next International Diamond Week will take place in Israel in February 2015 and, besides the DDC membership, members of the Antwerp Diamond Bourse will also take part.“ he said.
TOP 10 REASONS
why you should
ALWAYS ADVERTISE
Your market is constantly changing.
Your competition isn’t quitting.
People forget fast.
Advertising strengthens your identity.
Advertising is essential to survival and growth.
GIA’s BOARD WELCOMES NEW MEMBER The Gemological Institute of America’s (GIA) Board of Governors inducted Dr John W Valley, Charles R Van Hise Professor in the Department of Geoscience at the University of Wisconsin, as its newest member during the November 2014 board meeting in Carlsbad, California. Valley, alongside 16 other governors, will be instrumental in guiding GIA in its mission to protect the public trust in gems and jewellery. “Dr Valley is a wonderful addition to our board. With his experience as a supervisor to graduate students and post-doctoral fellows, and his impressive background in earth science research, he brings many unique attributes to the table,” says Chairman John Green, President and CEO of Lux Bond & Green Jewellers. “We’re very much looking forward to working with him as we continue serving as stewards to the public trust.” “On behalf of GIA’s more than 2 600 employees across the globe, I’m pleased to welcome Valley to the Board of Governors,” adds Susan Jacques, GIA’s President and CEO. “The commitment and expertise of our board continue to drive our institute’s initiatives as we build for the future.” Valley’s research spans many fields in earth science, including the early earth, astrobiology, palaeoclimatology, mineralogy, geochemistry and petrology. He is a fellow of five professional societies, including the American Geophysical Union, and served as President of the Mineralogical Society of America. He received the NL Bowen Award from the AGU and was a Fulbright Scholar at Edinburgh University, Scotland. He has published over 300 articles and has held editorial positions for numerous scientific journals, including Elements, where he has been Principal Editor since 2011. He received his PhD from the University of Michigan in 1980 and holds a Bachelor’s degree from Dartmouth College.
SA JEWELLERY NEWS – DECEMBER 2014
Advertising enables you to hold on to your existing customers.
Advertising maintains morale.
Advertising gives you an advantage over competitors who have ceased advertising.
Advertising allows your business to continue operating.
If you stop advertising, everything you’ve invested becomes lost, as the consumer’s awareness you’ve purchased slowly dwindles away.
To advertise in our jewellery publications, contact Tanja Jordaan on tel: 083 268 6153 or e-mail: adsales@isikhova.co.za
BRAND HISTORY
movie Blue Hawaii. Hamilton then entered a joint venture with a Japanese watch-making firm, of which it owned 60%, to make electric watches for the Japanese market. The electrical components of these were made in Japan, but – despite a high production rate – demand was low and the venture was unable to compete with the successful Seiko brand. In 1966 Hamilton acquired the Swiss Buren Watch Company, including all factories and technologies which had been developed at that stage by Buren. For the next three years, this was operated as a joint venture, with the US brand using a number of Swiss movements for the so-called “American” watches and Buren utilising many components made in Lancaster, UK. At this time, Hamilton incorporated the highly innovative Buren Micro-rotor into small numbers of certain uppermarket watches. Now named the Hamilton/ Buren Micro-rotor, it was the first patented automatic wristwatch to eliminate the large, external oscillating weight used in most automatic watches: instead, it employed a much smaller device that was integrated into the chassis of the movement, which was also conceived by Universal Genève. Hamilton completely ended its manufacturing operations in Lancaster in 1969 and thereafter all of these were moved to the Buren factory in Switzerland. Thus all Hamilton watches were produced in that country. However, the Buren-Hamilton partnership ended in 1972, facing liquidation due to the lack of sales in their product. Numerous quartz watches of the 1980s utilised the Hamilton name after Bienne company Société Suisse pour l’Horlogerie (SSIH) purchased the brand. Then, through the merger of the SSIH and ASUAG Groups in 1984, Hamilton became a subsidiary of the Swatch Group’s movement manufacturing company, ETA. Towards the end of the last century, Hamilton mounted an intensive marketing campaign. Vintage watches were becoming a popular style and the brand had prolific designs from the 1920s to the 1950s to provide inspiration. These modern, revived watches incorporate a Swiss-made quartz movement, including special editions in 2007 to mark the 50th anniversary of the introduction of the electronic watch.
The need for punctual timekeeping Railways were the main travel system in the USA in 1893, but it was not until the 1840s that entrepreneurs recognised the need for a precise mechanism to ensure trains’ punctuality. Among the brands born at this time was Hamilton, one of the earliest successful “railroad watches” – and a brand which remains relevant today. The Hamilton Watch Company was established in 1892. Its predecessor, Keystone Standard Watch Company, which was purchased from bankruptcy, was formed in 1886 with the acquisition of the Lancaster Watch Company’s factory. The new company was named after James Hamilton, who was the owner of a large tract of land which today is the City of Lancaster and its premises were housed on a 5 ha complex. As the railroads expanded, 56% of Hamilton’s watch production was absorbed by the railroad market. These early models were pocket watches. The first series made under the Hamilton name during the first 15 years of its existence comprised only two sizes: 46 cm, with 17 jewels, produced in 1893 and 41 cm. The first was named the Broadway Limited and marketed as “the watch of railroad accuracy”, since punctuality was vital in the train timetable, not only for the convenience of passengers, but also to avoid accidents on single tracks. Hamilton attained popularity for the precision of these watches. After the wristwatch gained popularity during World War I, having proved more convenient for soldiers to check the time on the battlefield, rather than extract a watch from their pockets, Hamilton introduced its first wristwatch in 1917. It was designed to appeal to men entering the war zone. The company expanded in 1928 through the purchase of the Illinois Watch Com-
12
pany at a cost of more than US$5 million. Many models of its vast range came in solid gold or gold-filled cases and, in some instances, in silver. Production of watches for the consumer ceased during World War II, as all timepieces produced were shipped to the troops at the front. More than one million watches were sent overseas. Large numbers of marine chronometers and deck watches were required to satisfy the needs of the USA and allied navies. Model 21 was built first and had a chain-drive fusée. It was followed by Model 22, which had a traditional mainspring. Both models had a two-day power reserve and were marked “US Navy Bureau of Ships”. Some were used by the army and were marked “US Army”. The pocket watch, Model 23, was a 16-size case stop-watch with a black dial. Yet another model in a 16-size case was the pocket watch for the US military. The 1950s were the last decade of Hamilton as a watch manufacturer powerhouse in the USA. The brand produced the first electric watch, which was available in a variety of non-traditional asymmetrical case sizes, one of which was worn by Elvis Presley in the
SA JEWELLERY NEWS – DECEMBER 2014
PlatAfrica 2014 (Below): First place (professional category): Cari-Mari Wilsenach from Cari-Mari Jewellery. (Right): Special award for student collection and collaborative work: Sibusiso Ndongeni, working with Ken Brandt. (Far right): First place (student category): Chelsea Barrow from Stellenbosch University.
Chinese bridal and coming-of-age jewellery The annual PlatAfrica competition has become synonymous with excellence in platinum jewellery design and manufacture and is one of Anglo American Platinum’s key beneficiation activities. While Anglo American Platinum’s core competence is in mining and refining platinum, it facilitates and invests in developing markets for platinum group metals, with a focus on local beneficiation. In celebration of SA’s abundant mineral wealth and, in particular, the beauty of platinum, the theme for PlatAfrica 2014 challenged both professional
and student designers to create “an original masterpiece from source to you”. The competition showcases not only the beauty of platinum, but also the remarkable talent of local designers. This year, it looked beyond SA’s borders to the world’s largest platinum jewellery market for inspiration. Entrants designed and manufactured bridal jewellery and pieces to celebrate the comingof-age of the burgeoning Chinese market. Platinum jewellery remains highly sought-after and SA supplies approximately 80% of global demand for this rare metal. The competition is designed to give local students and professionals the opportunity to work with this precious metal. At the same time, students develop the
(Below, from left): Merit awards (student category) went to Georgina Taylor from the Durban University of Technology, Slindile Mbelu from Mizane Jewellers, Lise von Wielligh from Stellenbosch University, Mignon Daubermann from the Tshwane University of Technology, Tarryn Small from the Tshwane University of Technology and Londiwe Dladla from the University of Johannesburg.
(Above): Second place (student category): Siyabonga Cele from Mizane Jewellers.
16
SA JEWELLERY NEWS – DECEMBER 2014
PlatAfrica 2014
skills required for platinum design and manufacture. Entrants are also exposed to designing for the world’s biggest platinum jewellery market. In the professional category, Cari-Mari Wilsenach took top honours with her sparkling platinum neckpiece, inspired by cherry blossoms. Stellenbosch University student Chelsea Barrow designed a stunning, Chanel-inspired hairpiece, taking first place in the student category. The quality and creativity of this year’s pieces truly reflect SA’s talent and passion for platinum design. (Above, from top): Second place (professional category): Johann Bothma from Altin Jewellers; third place (professional category): Liezl Botha from Altin Jewellers. (Right, from top): First place (professional category): Cari-Mari Wilsenach from Cari-Mari Jewellery; third place (student category): Kgomotso Busang from the Tshwane University of Technology; fourth place (student category): Prince Krewu from the Cape Peninsula University of Technology.
SA JEWELLERY NEWS – DECEMBER 2014
17
DIAMONDS
The year that was: diamonds Ernie Blom, President of the World Federation of Diamond Bourses (WFDB), reflects on what has happened in the global diamond industry over the past year. It has posed numerous challenges to the diamond sector, including continued high prices for rough diamonds and buyers shifting to lower-quality, larger pointer-size stones. A number of issues have arisen during the past 12 months, including that of synthetic diamonds. The WFDB and its membership – which includes SA – have a very clear vision in this regard. They are not opposed to synthetic diamonds and believe that these have a niche market, but they feel strongly that such stones should be declared as such and not passed off as natural. The federation has adopted a policy of zero tolerance of nondisclosure of synthetics. The global diamond industry’s relationship with banking institutions has been under the microscope and during the coming year, this needs to be strengthened. The financial sector is critical to the success of the diamond industry and we need to build solid partnerships with our bankers to secure future funding for our businesses. International laws compel banks to become far more involved when financing any industry deals in order to avoid moneylaundering or inadvertently funding terrorism.
SA JEWELLERY NEWS – DECEMBER 2014
This has obliged banks to acquire a much more detailed knowledge of clients and their deals. Even though the USA remains dominant in the consumer market, we are seeing a shift to the Far and Middle East. The bulk of future growth is likely to come from China and India. It is projected that the combined economy of South-East Asian (ASEAN) states will surpass that of Japan, the world’s thirdlargest diamond market, by 2025. ASEAN states include Singapore, Indonesia, Thailand, the Philippines, Vietnam, Myanmar, Malaysia, Cambodia, Laos and Brunei. They have a
combined nominal gross domestic product (GDP) of US$2,4 trillion, while Japan’s GDP is US$4,9 trillion. The United Overseas Bank of Singapore recently stated that ASEAN states require a growth rate of only two-thirds of the pace of their expansion from 20012013 to overtake Japan by 2025. The Gulf region’s market is also growing significantly and there was a recent announcement that the VicenzaOro fair will be hosting a show in Dubai in 2015 to capture part of this fast-expanding market. 2014 saw the local market shrink for the diamond industry, while the brazen attacks on jewellery retail outlets are of major concern for this sector. The local economy is still facing severe challenges, which are having an impact on diamond and jewellery sales in SA. The volatility of our local currency further impedes trading and expanding operations. In addition, the shortage of rough supply continues to be an issue for diamond dealers and is unlikely to change in the near future, with the increase in demand outstripping supply lines on the international stage. Nevertheless, we need to remain optimistic about the future of the diamond sector. As with everything in life, change is good – and as the industry evolves, we should explore the new opportunities created for us. As American comedian Bill Cosby observed: “In order to succeed, your desire for success should be greater than your fear of failure.” We wish our friends and colleagues an enjoyable, safe and prosperous festive season and look forward to working with you all towards a great 2015.
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JEWELLERY
The year that was: jewellery
Over the past year, one of the main objectives of the JCSA has been educating its members on legislation that affects their businesses – particularly the renewal of jewellers’ permits, as the majority of manufacturers are currently going through this process with the South African Diamond & Precious Metals Regulator. The council has provided guidance on compliance, as well as preparing for audits from the regulator. It has also facilitated workshops with BEESA for members to educate themselves on the new black economic empowerment codes and ownership structuring. The JCSA is honoured to have had some involvement in the process, which has culminated in the recent launch of the Gold Loan Scheme by the Minister of Trade & Industry, Dr Rob Davies. The scheme has been set up to provide working capital loans to gold jewellery manufacturers at a fixed interest rate of 3% per annum. The latest figures indicate that there are about 1 000 jewellery manufacturers left in the country and that production is down to 3 500 kg a year, from 7 500 kg a year in 2004. The jewellery sector experienced imports exceeding R1 billion in 2013, while exports were recorded at R467 million in the same year. The council is continuing its drive to encourage import replacements, as these could exponentially grow employment capacity within the next 10 years. The Gold Loan is one of many different interventions by government to support our local manufacturing sector and we are confident that it will lead to the increase of local manufacturing capacity and promote beneficiation, as well as multi-level job creation. Over the past year, the Jewellery Manufacturers’ Association of SA, a division of the council, has been working on the implementation of the Jewellery Manufacturing Trade Certificate (JMTC), a trade test set up by the industry for the industry. This is in no way intended to compete with the sanctioned trade test offered by the Mining Qualifications Authority (MQA). The JMTC is offered to the Jewellery Council so that members and their staff can obtain a JCSA Jewellery Manufacturing Trade Certificate. The JCSA continues to collaborate with the MQA to offer the trade test to goldsmiths, something which has not been available for almost three years.
SA JEWELLERY NEWS – DECEMBER 2014
According to Lorna Lloyd, Chief Executive Officer of the Jewellery Council of South Africa (JCSA), the jewellery industry has continued to experience tough market conditions due to factors such as the global economic downturn, the rise in the price of gold and a volatile currency.
In terms of the JCSA and members’ exposure to consumers, we have continued our competition and advertising campaigns in the Shine/ Skitter jewellery books for Fairlady, True Love, Sarie and Grazia. It is important that the council – as well as our status as a representative body within government – become visible to consumers. Our involvement in the Security Initiative, in co-operation with Business Against Crime and the Consumer Goods Council, has become crucial. Crime is rife and attacks on cellphone and jewellery stores appear to be intensifying. Crime syndicates usually begin striking before the festive season begins. Our main message to members is that they should communicate as much information to the council as possible in order to counter this. The more informed our jewellers are, the better they can protect themselves against robberies. In the manufacturing sector, more of our members are participating in international exhibitions offered by the Department of
Trade & Industry, which provides financial assistance. In March this year, jewellery and diamond manufacturers participated in the Hong Kong International Jewellery Fair on a national pavilion. Other exhibitions on offer are International Jewellery London, International Jewelry Tokyo and JCK Las Vegas. Although Jewellex Africa 2014 proved to be a great success, with sponsorships received from De Beers, Metal Concentrators, GIA, Brinks, Rand Refinery and Gemfields, it was once again disappointing to note the decline in the number of exhibitors and trade visitors to the fair. A new Jewellex Organising Committee has been appointed and we are extremely excited about the prospects of Jewellex Africa 2015. For 2015, in addition to the above, the council aims to focus on increasing opportunities for retail training, marketing local products to local retailers, developing market-leading jewellery designers focused on commercial product, promoting jewellery as a preferred luxury purchase to the consumer, increasing consumer education and confidence, promoting JCSA members to consumers and providing opportunities to facilitate business growth. We sincerely appreciate the support we have received from our government partners and members in working towards the sustainability and growth of our local industry. Any association is only ever as strong as the total sum of its members and we therefore invite you to participate and make use of the opportunities offered by the JCSA.
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BRAND MANAGEMENT
New version of an old favourite The Colt was a design by Breitling, born in the 1980s and initially intended for the armed forces (as were many other Breitling watches, such as the Navitimer and the Chronomat, known for their sturdiness, readability and reliability). The Colt, however, has become the brand’s most accessible model. The new revamped design interprets all the essential assets of its historic predecessor, on which the brand’s reputation was built. The broad, unidirectional rotating bezel, which has a satin-brushed finish and engraved hour markers, adorned with four rider tabs, is a signature feature of Breitling. It ensures excellent handling, as well as enhanced protection of the sapphire crystal (glareproofed on both sides). The polished steel case is water-resistant to 200 m and is equipped with a large, screw-
locked crown with reinforcements. The dial is offered in a choice of Volcano Black, Mariner Blue or Status Silver, which are enlivened by a fine circular raised motif. Their readability is ensured by oversized hands and hour markers accentuated by a luminescent coating. There is the option of a satinbrushed steel bracelet or a rubber or leather strap. The new Colt is available in a range of four models: a 44 mm watch with a mechanical self-winding movement certified by the Swiss Official Chronometer Testing Institute, which is the highest benchmark in terms of reliability and precision; the Breitling Caliber 73 watch and chronograph model is thermo-compensated and equipped with Super-Quartz movements which are 10 times more accurate than standard quartz, featuring 60-minute and 12-hour totalisers with split times (split-second
hand); a lady’s watch with a smaller diameter and an optionally gem-set bezel, which has a battery end-of-life indicator, and the Colt Automatic with Breitling’s Calibre 17, which has identical features. All these features bring a fresh momentum to this collection, which has a youthful, dynamic and a winsome attitude.
Azzaro’s remarkable Heritage Whether worn while strolling through the Haut-Marais district, having a candle-lit dinner at Robuchon’s or enjoying lyrical moments at the opera, the Heritage watch by Azzaro shines serenely. Interpreted in men’s and ladies’ versions, it celebrates the brilliant creative designer Loris Azzaro. His name is engraved on the bezel in a delightfully rounded style, subtly evoking his beloved circle theme. In its ladies’ interpretation, the dial – adorned with a mother-of-pearl heart – distils time imbued with gentle harmony, extended by an entwined,
curved motif punctuated by diamond-set hourmarkers, while the emblematic three-circle symbol appears at 12 o’clock. When interpreted in a more masculine model, the watch plays on metallic shades, appearing in silver-toned, black or white variations. The finishing touch to this mode, exuding distinctly neo-classical appeal, is an elegant wristband which coils smoothly around the wrist. Functions include hours, minutes, seconds and date. The 316L steel case, with or without diamonds, is 42 mm or 36 mm in diameter and is water-resistant to 30 m.
RSW’s ode to the Chasseral region Chasseral – one of the highest summits in the south of the Swiss Jura – stands guard over a uniquely beautiful region of mountains and lakes, at the heart of the famous “Watch Valley”. In winter, gusts of wind sweep through this land, sculpting the snow into pure forms. These same crisp, clean lines have permeated the Chasseral watch, RSW’s ode to the region where it first saw daylight, exactly a century ago. An authentic custodian of Swiss tradition, this new timepiece captures the light that floods its surfaces in a subtle alternation of mat-brushed and shiny, polished finishes.
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It features a mechanical automatic movement and functions which include hours, minutes, seconds and date. The timepiece is available in a 316L steel or steel with a yellow PVD treatment case, with or without gem-setting, and is 42 mm in diameter. It is water-resistant to 30 m with a leather or steel folding clasp bracelet. Other versions include a 44 mm case with Ronda 6004.D quartz movement, closed back and traditional crown, or a 36 mm case with ETA 956.412 quartz movement, also with a closed back and traditional crown.
SA JEWELLERY NEWS – DECEMBER 2014
BRAND MANAGEMENT
Raw silver for a watch case Advanced and unusual techniques and materials are a feature of most of U-Boat’s timepieces. Those materials include acid baths, carbon fibre and classic steel titanium and ceramic. Sterling silver is also an intriguing material for Italo Fontana, the creator of U-Boat
watches. He uses it in the brand’s new Classic Chrono Silver and has a passion for this metal. The silver used has not received any special treatments, in order to keep it raw and exposed to natural changes over time. Having a living material is also a challenge for the owner of the watch, as he or she will need to take special care of the piece. The Classic Chrono Silver is available in a limited edition of only 150 pieces. The sterling silver case is 48 mm in diameter with an approximate weight of 120 g. A special protective device is on the lefthand side of the crown, while a central horn is welded to the case. The watch comes in two dial versions: one in black carbon fibre and treated with composite beige pigments, and
the other in beige and treated with composite black pigments. The watches are mounted on a hand-made and hand-finished dark brown calf leather strap with a tongue buckle in sterling silver.
Caran d’Ache’s limited-edition Crystal When two manufacturers, both devoted to excellence, combine their unique skills, their creativity gives form to three fine writing instruments, proposed as limited editions: Crystal. This encounter began with a droplet (ie, the famed Coutard design which René Lalique imagined in 1935). On the body of a pen crafted from white gold, black ceramic or white ceramic, Caran d’Ache has reproduced this iconic spray of water to produce exceptional objects, made entirely inside its workshops in Geneva. On ceramic, these droplets spell out a pattern in relief, magnificently orchestrated by talented artisans. And when Crystal drapes
itself in white gold, no fewer than 341 absolutely pure diamonds (3ct) illuminate the shower of drops along the writing instrument. This unique objet d’art is accompanied by an
Avigation enhanced A watch made for the British forces in 1949 – the Longines Avigation – has been enhanced with a modern interpretation. It retains its original 44 mm case diameter, which houses a mechanical movement encased in a soft iron plate and dome to protect it from magnetic fields. This new model combines the beauty of a remarkable product with the cutting edge of watchmaking technology, as part of the brand’s heritage models. They have accompanied pioneers on their adventures in the air, on land and under water.
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The mechanical automatic movement features hours, minutes, seconds, date and a second time zone. The dial is polished black lacquer and displays red and white luminescent numerals – a typical feature of a military watch. The rhodiumplated baton hands are also luminescent, while the tip of the lozenge-shaped skeleton hand is red. The distinctive “broad arrow” is at 12 o’clock – a symbol used by the British army to identify military equipment. The watch is mounted on a black alligator strap with a buckle.
inkwell in satin crystal, specially created by Lalique. The renowned glassmaker’s signature completes the opus with a crystal cabochon that crowns each pen.
Breguet awarded prestigious prize At a glittering awards ceremony held at the Grand Théâtre de Genève, an international jury awarded the 14th Grand Prix d’Horlogerie de Genève (GPHG) to Breguet for excellence, innovation and watchmaking expertise for its Classic Chrometre model. The supreme “Aguille d’Or” distinction received by Breguet at the function was witnessed by some 1 500 guests. The Federal Councillor who officially awarded the prize praised the vitality of the Swiss watch industry.
SA JEWELLERY NEWS – DECEMBER 2014
BRAND MANAGEMENT
Daring design from Movado A daring, ultra-modern design is the latest offering from Movado. Named “Gravity”, it has elongated lugs which accentuate the streamlined profile of the slender case, which has a carbon fibre ring adorning the case middle. A PVD finish instils it with a high-tech aura of sophistication. The iconic Movado signature dot at 12 o’clock stands out with aesthetically pleasing clarity against the shiny black carbon fibre dial,
while a black minute track and generous silvertoned hour markers create an elegant contrast. Its stainless steel case is 42 mm in diameter; movement quartz and functions are domed hours and minutes, indicated by plated, rhodium and polished Dauphine hands. Other features include anti-reflective sapphire crystal. The watch is water-resistant to 30 m and is mounted on a two-toned black rubber strap with a folding clasp.
A watch like no other A novel way to celebrate an important product is to make a movie of its construction. This is exactly what upmarket Genevan brand Patek Philippe has done to celebrate its 175th anniversary. The watch in question is the impressive Patek Philippe Grandmaster Chine, a dualfaced timepiece of only seven pieces which is striking not only visually, but also in practice. The commemorative timepiece is destined to hold a singular place in horological history. The unique, fully reversible, double-dial wristwatch has a total of 20 complications: it is a masterpiece featuring complex micro-mechanisms and elaborate case decorations. The principal complication is a rare grande sonnerie, which is the brightest jewel in this amazing piece. At the top of each hour, it sounds the corresponding number of low-pitched tones. At each quarter, it signals first the hour, then the number of quarters, indicated by triple strikes on three gongs, each quarter having its own melody. Developing the mechanisms for the complex case of the wristwatch called for considerable ingenuity. The challenge was met by using a double-barrel 30-hour power reserve and carefully measured gongs, which produce the rich crystalline sound for which the brand is famous. When the grande sonnerie is not required, the watch can be set to the
SA JEWELLERY NEWS – DECEMBER 2014
petite sonnerie or, in fact, to silence, allowing the hours to pass without so much as a whisper. Often called the “queen of complications” is the minute repeater, which strikes the time on demand. This acoustic quality is a Patek Philippe speciality. Activating the repeater in the dark can be a magical experience and one can listen to the time, which strikes to the minute with crystal-clear tones. In the Grandmaster Chine, the minute repeater is an integral part of the mechanism for the grande sonnerie and is set in motion by applying gentle pressure to the winding crown’s pusher. For the first time in the history of watchmaking, the watch uses the minute repeater sequence as an acoustic time signal, employing the same sequence of strikes to provide a gentle alert. When the alarm is activated, all other chiming functions are disabled and remain mute until the alarm has sounded or been switched off. As a reminder that the alarm has been activated, the white colour in the bell-shaped aperture of the alarm dial turns red. Once the alarm has sounded, it turns white again. The alarm can be set to quarter-hour accuracy on the 24-hour subsidiary dial at 12 o’clock, but the alarm will always sound before the pre-set quarterhour, in order to prevent one not hearing times that require fewer strikes, such as 1 o’clock. Two minutes before the pre-
set time, the repeater sounds at 12:58 with 12 strikes for the hours, three triple-strikes for the quarter-hours and 13 strikes for the minutes. The perpetual mechanism recognises the different number of days in each month, as well as leap years, so it always displays the correct date. The instantaneous perpetual calendar has its own elegant dial, which ensures legibility. Four dials indicate the day of the week (on the left), month (on the right), time in one 24-hour format at the top and date and leap-year cycle (below). The second time zone and moon-phases have a unique repertoire of sound functions, but also feature time in the customary way. A gold hour hand can be set to a second time zone to ascertain the time in another geographical area and has a day/night indicator to obviate one making phone calls in the middle of someone else’s night. The case of the Grandmaster Chine is decorated with artistic engravings and puts the piece in a class of its own. it is completely reversible, with two co-equal faces that both display the time: one details the array of musical elements, while the other focuses on the perpetual calendar. An inspired patented mechanism enables the watch to be smoothly reversed in an instant, locking securely into place. While a conventional case consists of about 12 parts, this one has about 214 components. It is a true work of art that can be worn with comfort on both sides – a display of artistic excellence in an 18ct rose gold case and a fold-over clasp, meticulously hand-engraved with laurel leaves. The watch has two solid gold dials. The sonnerie side with time functions features delicate gold appliqués, while the centre of the dial is adorned with a hand-guilloché sunburst pattern of radiating sound waves. Patents have been awarded to date for six of its innovations.
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MARKETPLACE
season’s greetings The SAJN-team would like to take this opportunity to thank each and every one of you who helped make 2014 such an incredible year. Thank you for your continuous loyalty and support. Wishing you and your families a wonderful festive season and safe new year.
* Please note that the SAJN offices will be closed from 12 December 2014 - 5 January 2015
SA JEWELLERY NEWS – DECEMBER 2014
LITTLE GEMS
Four thousand years ago, pearls were considered “the oldest gems”. Pearl fisheries existed along the South Indian coast between Sri Lanka and the Gulf of Maar, which produced some of the finest pearls in the ancient world, retrieved by divers working in the Indian Ocean and the Persian Gulf. Natural pearls are nearly 100% calcium carbonate and an organic, horn-like compound called conchiolin. When a microscopic invader or parasite finds its way into a bivalve mollusc and settles inside the shell, the mantle of the mollusc is irritated and forms a pearl sac of external mollusc cells and the mineral aragonite which it deposits to cover the irritant – a secretion process which is repeated many times, eventually producing a pearl. These come in many shapes, perfectly round ones being the rarest. As the pearl sac grows, over time and by cell division, the pearl grows too. A transition to a nacreous secretion occurs and in a few years, a pearl will have been formed. Rare, single, natural pearls are often sold as collector’s items or set as centrepieces in a unique item of jewellery. Very few matched strands of natural pearls exist today and those that do sell for hundreds of thousands of dollars. In 1917 Pierre Cartier purchased a Fifth Avenue, New York mansion (which is now the Cartier New York store) in exchange for a matched double strand of natural pearls which he had collected for many years. Previously, natural pearls were found in many parts of the world, but today they are mostly confined to the seas of Bahrain. Australia has the last remaining fleet of pearl-diving ships, which recover significant numbers of natural pearls from wild oysters which are still found in that country’s Indian Ocean waters.
The oldest gem of all
The most famous pearl of all An extensive bed of pearl oysters was found by the Spanish conquistadors some 200 km north of the Venezuelan coast when they arrived in the Western Hemisphere. Legend has it that it yielded a spectacular natural specimen named La Peregrina. Now one of the most famous pearls in the world, it has a fascinating history dating back almost 500 years. Its name is Spanish for “the pilgrim” or “the wanderer” – and its travels have indeed been legendary. La Peregrina is a pear-shaped, nacreous pearl which originally weighed 224 g (56ct) – the largest pearl ever discovered at that time. It was found by an African slave on the east coast of
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Pearls are almost as old as mankind and have been prized throughout history for their beauty and purity. In former times, these were only ever natural gems which occurred spontaneously, recovered by divers from the depths of the seas. They formed as the result of an irritant, such as a grain of sand or even a small insect which had found its way into an oyster shell, and were extremely rare. Alice Weil dives into the background of a legendary natural pearl. Santa Margarita in the Gulf of Panama in the mid-16th century. (As a reward, he was given his freedom.) It was handed to King Charles V of Spain, who decreed it part of the country’s Crown Jewels. His son, four-times-married Philip II, gave it successively to each of his wives, including Mary Tudor, the daughter of King Henry VIII of England (and half-sister of Elizabeth I, Henry’s daughter by Anne Boleyn). Her marriage to Philip made her queen consort of the Habsburgs of Spain and there are several portraits of her wearing the pearl. After her death, it remained in Spain for the next 250 years and was worn by a succession of Spanish rulers and their wives. This can be seen in portraits of them, including those done by Diego Velázquez of Philip IV of Spain and his daugh-
ter, Maria Theresa: Philip created a stir when he attended Maria Theresa’s wedding to King Louis XIV of France (“the Sun King”) in Paris in 1660, wearing La Peregrina in his hat. Further generations of the Bourbons of Spain also wore the pearl, which finally appeared in a necklace brought to France in the 19th century by the Bonaparte family. And it was the Bonaparte family who were responsible for the gem’s destination in the 20th century. A descendant of Napoleon who was exiled to England is believed to have sold the pearl to the Duke of Hamilton, whose wife wore it on formal occasions at Buckingham Palace. There it remained until 1969, when it appeared as part of a necklace on auction at Christie’s in New York, to be purchased by actor Richard Burton as a Valentine’s Day gift for his wife, Elizabeth Taylor. It was subsequently sold on auction in 2011 as part of her jewellery collection and fetched US$11,8 million – considerably more than had been expected.
SA JEWELLERY NEWS – DECEMBER 2014