Jewellery Focus April 2012 by Designed by Arthouse Publishing

April 2012 www.jewelleryfocus.co.uk £5.95 ISSN 2046-7265

FOCUS

Diamond special issue: the latest in jewellery design and loose diamond supply services Michael Allchin of the Birmingham Assay Office assesses the industry in his Annual Review

A selection of wedding and engagement rings to fall in love with for the coming season

CONTENTS

Jewellery FOCUS

April 2012 30

DIAMOND SPECIAL Taking responsibility

With its Chain of Custody Standard for precious metals just launched, the RJC is now looking to finalise a similar scheme for diamonds. Louise Hoffman speaks to CEO Michael Rae

Elegant embellishments

Naida Ally examines the latest in gold, platinum, palladium and diamond-set matrimonial bands

Designer of the month 18

Loose diamonds to add sparkle to your jewellery creations

Dressed to impress

Focus on wedding and engagement rings

A selection of dazzling diamond jewellery to tempt your customers

Following a meeting at Spring Fair, Louise Hoffman finds out more about Leyla Abdollahi’s Okeanides collection – an enchanting representation of Greek mythology

Luxury jewellery

Aspirational diamond designs

ALSO IN THIS ISSUE Editor’s letter

Roundup 8 The latest news from the industry

New appointments

Your industry representatives

Janet Fitch

Despite an enormous drop in hallmarking volumes, Michael Allchin of the Birmingham Assay Office remains upbeat in his assessment of the UK jewellery industry for 2011

New timepieces

Watches with the wow factor

Taking stock 38 New offerings from the industry

As the spring fashion events draw to a close, Janet takes a moment to reflect on her experiences, and to compile her trend predictions for the coming seasons

Michael Hoare

Staying positive

Counting the cost

International payments are one aspect of a business’s cash flow that can be managed with considerable control, says Carl Hasty of Smart Currency Exchange

With the number and severity of crime incidents against jewellers on the increase, Michael urges the industry to unite

Syreeta Tranfield Following a visit to the recent palladium-focused Rock Vault event, Syreeta considers this metal as a key growth area in jewellery retail

Selling

Industry data

Voice on the highstreet

Brad Huisken delivers the second part of his advice on the initial contact stage of a sale, this time explaining the importance of non-business conversation

Peter Wong of Wongs Jewellers, Liverpool

editor's letter

Editor’s letter L

ast month, the Responsible Jewellery Council (RJC) announced the finalisation of its Chain of Custody (CoC) Standard for precious metals, including gold, platinum, palladium and rhodium. This new certification tool had been in the planning and consultation stages since 2010, and seeks to “support the identification of responsiblysourced jewellery materials produced, processed and traded through the jewellery supply chain.” This includes ensuring the materials are conflictfree as a minimum, and that they are responsibly produced, in terms of human rights, labour standards, environmental impact and business ethics. Although the CoC Standard is very much optional for RJC Members, it is hoped that it will be of significant benefit to those companies, from mine to retail, who do choose to become certified, offering a new system by which to ensure ethical trading; a new sales pitch for the shopfloor; and a new reassurance for the end consumer. Also awaiting finalisation is a similar standard for the diamond supply chain, which has been delayed in order to conduct additional consultation with the industry, as announced at the tail end of last year. This decision was made as a result of concerns raised by RJC Members representing the diamond trading, cutting and polishing sectors, during meetings in Antwerp in November 2011. Many of the points raised have been voiced time and again in relation to implementing traceability and enforced ethics in the diamond supply chain – the potential for fraudulent activity; questions over the feasibility of applying tracking measures to small-scale, informal cutting and polishing operations; and the expense and difficulty of keeping certified and non-certified diamonds separate from start to finish, for example. There is no doubt as to the complexity of the diamond supply chain, but if the consultation period can allow obstacles to be overcome, and a workable version of the CoC Standard for diamonds to be developed and agreed upon, then the next few years could be very interesting for the jewellery industry…

This month’s cover features ETERNITY RANGE

Specialising in diamond-set eternity rings, Eternity Range has been manufacturing handmade pieces for over 15 years, using high quality G/VS diamonds and fine coloured gemstones. The collection boasts over 90 different styles, many of which are in stock and are available to be sent using the company’s appro service, with delivery as soon as the next day. To complement the range, Eternity Range offers a bespoke design service to accommodate specific customer requests. “Our standard delivery time is only two to three weeks, however if you have an earlier deadline we will do our utmost to meet it,” the company adds. The complete collection is available to view online, where you can also register to view prices and receive a newsletter, or one of the team can visit you in the comfort of your own premises. Information: 0207 831 8573 or www.eternityrange.co.uk

Jewellery Editor Louise Hoffman

FOCUS

louise@jewelleryfocus.co.uk

Editorial Assistant Naida Ally naida@jewelleryfocus.co.uk

Design/Production Editor Tracy Jarvis tracy@jewelleryfocus.co.uk

Production Assistant Lewis Bowes copy@jewelleryfocus.co.uk

Online Editor Michael Northcott michael@jewelleryfocus.co.uk

Group Advertisement Manager Kelly Smith kelly@jewelleryfocus.co.uk

Deputy Group Advertisement Manager Julie-Ann Kwok julie@jewelleryfocus.co.uk

Senior Sales Executives Duncan Robinson duncan@jewelleryfocus.co.uk

Michele Rogers michele@jewelleryfocus.co.uk

Sales Executive Cally Harrison cally@jewelleryfocus.co.uk

Accounts Maureen Scrivener accounts@jewelleryfocus.co.uk

Customer Services 01206 767 797 customers@mulberrypublications.co.uk

Contributing writers:

Brad Huisken, Carl Hasty, Janet Fitch, Michael Allchin, Michael Hoare, Syreeta Tranfield

In support of:

Jewellery Focus ISSN 2046-7265 is published monthly by:

Mulberry Publications Ltd, Wellington House, Butt Road, Colchester CO3 3DA Tel: 01206 767 797 Fax: 01206 767 532 www.jewelleryfocus.co.uk

The editor and publishers do not guarantee the accuracy of statements made by contributors or advertisers, or accept responsibility for any statement that they express in this publication. The opinion of the contributors may not necessarily be the opinion of the publishers. Articles are considered for publication on the basis that they are the author’s original work. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without the permission of the publishers.

ROUNDUP

And briefly “Record number of buyers” at HKTDC

The 29th edition of the HKTDC Hong Kong International Jewellery Show came to a close after drawing a reported 38,000 buyers across five days. “Rapid economic development in the emerging markets, especially the Chinese mainland, has resulted in an expanding middle class, which in turn is creating huge product demand. The HKTDC will continue to step up publicity in these emerging markets to help Hong Kong SMEs capitalise on the opportunities,” said a media representative for the HKTDC. More than 3,100 exhibitors from 48 countries and regions took part in the show.

Daisy raises funds for breast cancer awareness

Following the launch of its limited edition neon pink Chakra bracelet for charity Breakthrough Breast Cancer last October, Daisy Jewellery’s campaign raised £5,422.80 in just over two months. Fifteen per cent of the RRP from each bracelet sold was donated to the charity throughout the duration of the campaign. The bracelet was launched at a star-studded dinner where rock royalty, Hollywood glamour and London’s finest gathered at Petersham Nurseries to raise money for breast cancer campaign group Too Many Women, and all attendees wore the bracelet as a show of solidarity.

Fake Pandora jewellery seized in Gloucester

Fake Pandora jewellery with an estimated retail value, if genuine, of at least £500,000 was seized from a property last week, This is Gloucestershire reported. Information was received by Gloucestershire County Council’s Trading Standards Service and a subsequent raid carried out. The jewellery was being sold through Amazon and other websites. Eddie Coventry, head of Gloucestershire County Council’s Trading Standards Service, said: “This investigation was significantly aided by information from the public and by assistance from Pandora. The value of the items we have seized is substantial and represents a potential significant loss to traders offering the genuine item for sale.”

Founder of Barbara Cattle passes away Barbara Bourne, the founder of jewellery and silversmithing retailer Barbara Cattle in York, has passed away, aged 87. Bourne renamed her existing business to Barbara Cattle in 1962, after marrying Robert Cattle, who was a descendant of a York silversmith from the late 18th century. Her shop in Stonegate Street, which specialised in period and modern silver, was “one of the most respected businesses of its type in the north.”

Palladium partnership

The International Palladium Board has announced Hussein Chalayan as its latest “inspirational partner” for 2012. The collaboration is part of the Palladium Visions campaign, which will see the International Palladium Board working with an array of visionary artists, designers and jewellers throughout 2012. “The International Palladium Board is dedicated to establishing palladium as the contemporary precious metal of the future. Palladium is a beautiful, lustrous white metal desired by jewellery designers for its unique features – rarity, lightness and strength,” it explained.

Assay master calls for more hallmarking after jeweller trial

Sheffield assay master Ashley Carson has called for greater responsibility in the jewellery community after a Bradford jeweller was uncovered with 90 per cent of his stock not bearing a hallmark. Mr Carson called for greater attention to the Hallmarking Act 1973, after Mukhtar Ahmed, owner of Mangla Jewellers, pleaded guilty to 11 offences under the Act and was ordered to pay £1,700 in fines and costs. Mr Carson described hallmarking as being “vital for the integrity of the entire industry,” and described it as the “envy” of other nations. “We hope this case acts as a warning to others and ensures that any other traders will not take the same risks and make the same mistakes in the future,” he added. In recent years, Bradford has been the subject of a crackdown by the Sheffield Assay Office and the West Yorkshire Trading Standards Service, which convened to ‘assess the level of compliance’ with the Hallmarking Act across the city in 2009 and 2010. The two bodies carried out inspections at high street jewellers and inspected Mr Ahmed’s store on four occasions during this period. He was instructed on all four inspections that all items must be hallmarked before being put on sale, but an undercover officer was later sold a gold ring which had not been hallmarked. A full inspection ensued and found that 90 per cent of Mr Ahmed’s stock was unmarked. Fines and costs of £1,700 were handed down by Bradford magistrates on 14 February.

Gold prices fall in February thanks to confidence in US economy

Gold prices fell more than five per cent on 29 February after the chairman of the US Federal Reserve expressed confidence in the US economy. Prices reached a low of $1,688.44 per ounce after Ben Bernanke suggested in his Monetary Policy Report before the US Congress that further quantitative easing was unlikely. The price fell after trading as high as $1,791.49 per ounce on the same day. The price rose again to $1,715 per ounce the following morning, however, as the Asian trading day ended. The fluctuation is good news for the jewellery industry, which has been suffering poor sales of gold pieces as a result of prices as high as $1,900 an ounce in September last year. Prices were as low as approximately $1,540 per ounce in January this year, but rose sharply over the following 10 weeks. Gold is seen by investors as a safe haven during times of economic uncertainty, so a reduction in its price can indicate that investors’ confidence in other markets is growing.

Australia’s largest pink diamond found An Australian mining company believes it has discovered the largest rough pink diamond ever found in the country. It was found at Rio Tinto’s Argyle diamond mine in western Australia’s East Kimberley region. The rare stone – already named the Argyle Pink Jubliee, presumably after the Queen’s historic achievement this year – is 12.76 carats, making it the largest pink diamond ever found in Australia. It is currently being cut and polished in Perth in preparation for a team of international experts who will grade the diamond, and it will then be sold later © Rio Tinto 2012 in the year after touring the world. A Rio Tinto spokesperson said that, although 90 per cent of the pink diamonds in the world come from the Argyle mine, finding a diamond of this calibre was “unprecedented”. The Argyle Pink Jubilee is similar to the Williamson Pink – the diamond that Queen Elizabeth II received as a wedding gift. To put the new discovery in context, a 24.78-carat pink diamond sold for £29 million in 2010, making it the most expensive jewel ever.

ROUNDUP

January retail sales rise 0.9 per cent

An unexpected rise in sales in the first month of 2012 has both surprised and delighted the retail industry. The Office for National Statistics (ONS) revealed recently that sales volumes rose by 0.9 per cent compared to December. The City had expected a 0.4 per cent fall, further emphasising the surprising nature of these results. The ONS figures also show that internet sales accounted for 12 per cent of total sales, up from nine per cent in January last year. David Kern, the chief economist at the British Chambers of Commerce, said: “The retail sales figures for January were far stronger than expected. After the December increase, which was affected by heavy pre-Christmas discounting, most analysts expected a small fall in January. This increase shows that the economy is slowly improving and supports our view that GDP will return to positive growth in the first quarter of the year.”

RJC launches precious metals Chain of Custody Standard

The Responsible Jewellery Council (RJC) has announced the launch of its Chain of Custody (CoC) Standard for precious metals. The CoC Standard aims to support responsibly sourced gold, platinum, palladium and rhodium produced, processed and traded through the jewellery supply chain. The RJC defines ‘responsibly sourced’ as conflict-free as a minimum, and responsibly produced – covering human rights, labour standards, environmental impact and business ethics, as articulated in the RJC Code of Practice, which is applicable to the jewellery supply chain from mine to retail. The CoC Standard and supporting documentation are available on the RJC website, at www.responsiblejewellery.com/chain-of-custody-certification and further discussion on the planned CoC for the diamond market can be found on page 16 of this issue of Jewellery Focus.

Sotheby’s announces historic diamond for auction headline

Sotheby’s Geneva has announced that one of the most significant diamonds ever to come to auction will lead its sales on 15 May 2012. The Magnificent Jewels and Noble Jewels auction will be headlined by the Beau Sancy, which has been passed down through the royal families of France, England, Prussia and the House of Orange. The stone, which weighs 34.98 carats, is a modified double rose cut diamond and comes to auction with an estimated value of between $2 and $4 million (£1.3 to £2.5 million). The Beau Sancy will be showcased on an international tour before its auction on the 15 May, including stops at Hong Kong, Rome, New York, Paris and London. David Bennett, chairman of Sotheby’s jewellery department in Europe and the Middle East and co-chairman of Sotheby’s Switzerland, said: “The Beau Sancy is one of the most fascinating and romantic gems ever to appear at auction, and it is an immense privilege for Sotheby’s to handle the sale.” The Beau Sancy was the largest gemstone in the House of Prussia’s collection and is thought to have been mined in south-central India near the city of Golconda, from where a large number of other famous diamonds have come, including the Hope and the Regent.

Celebrity endorsement

Rumer Willis wears Thomas Sabo at launch International jewellery brand Thomas Sabo has celebrated the launch of a new line joining its SS12 collection with an exclusive party in Munich’s Postpalast venue. More than 1,000 guests attended the event, including well-known personalities from film, television and sport. The star-studded soiree saw special guests including Rumer Willis in attendance. The daughter of Demi Moore and Bruce Willis had flown in from Los Angeles especially to attend the party. Wearing the latest pieces from the newly-launched Special Addition range, Rumer said of the collection: “With Thomas Sabo you can walk around and feel like a star. I love that the pieces can be adapted as you change your style. Each day I can put a different charm on – girly one day; a skull the next.”

ROUNDUP

Diamond market

The Hong Kong show opened in February, seeing strong traffic, with the demand in the Far East exceeding low expectations. De Beers predicted a cautious market in the first quarter, but reported 2011 sales were up 26 per cent to $7.4 billion (£4.6 billion) with DTC prices up 29 per cent, and net earnings up 72 per cent to $939 million (£589 million). The United States’ 2011 jewellery store sales were up 10 per cent to $30 billion (£18.8 billion) as jewellery inflation increased by 10 per cent. Polished imports were up 20 per cent to $22 billion (£13.8 billion) and exports were up 29 per cent to $18 billion (£11.4 billion). The Hong Kong 2011 polished imports were up 27 per cent to $17 billion (£10.6 billion). As February drew to a close, the Hong Kong show reported steady sales and stable prices, which served to raise market spirits, however buyers remained cautious due to the general uncertain global economy. Rough trading was reportedly weak and cutters’ profit margins were tight. Israeli tax authorities temporarily suspended investigations and raids as the bourse negotiated new tax agreements for the diamond trade. The implementation of India’s two per cent protectionist polished import tax seemingly destroyed its role as a primary trading centre, and its global trading will move to Dubai, Hong Kong and other centres. Its January polished imports fell 59 per cent to $945 million (£593 million), its polished exports fell 19 per cent to $1.8 billion (£1.1 billion), but rough imports were up seven per cent to $1.1 billion (£0.6 billion). The beginning of March saw De Beers’ DTC sight estimated at $600 million (£376 million) with prices stable. Rough dealer markets saw a slight improvement, while polished markets remained relatively steady. Namakwa Diamonds launched production at Lesotho’s Kao mine, meanwhile Firestone Diamonds suspended operations at Botswana’s BK11 mine due to the weak rough market. Source: Rapaport TradeWire

Images: Monnickendam Diamonds

Harriet Kelsall announces winner of bespoke jewellery design competition

Hoping to inspire the next generation and bring back traditional design skills, Harriet Kelsall Bespoke Jewellery has announced the winner of the UK’s first bespoke jewellery design competition run in conjunction with the University for the Creative Arts in Kent. Lindy Neave, a year two student in Silversmithing, Goldsmithing and Jewellery, wowed the judges with her design concepts and sketches, scooping up the prize. The competition involved students watching a YouTube clip of an actress briefing a designer for her engagement ring. Harriet Kelsall, design director and founder of Harriet Kelsall Bespoke Jewellery, believed that this was the only way to make sure the competition remained true to bespoke design. Harriet said: “Proper ‘clean-sheet’ bespoke jewellery design is at the heart of everything we do at Harriet Kelsall Bespoke Jewellery and I want[ed] to make sure that this skill isn’t lost. Design programs and CAD have made it easy to adapt template designs, with some in the industry calling this bespoke, but in my view this isn’t real bespoke jewellery design. An important element of the competition was that students presented hand-drawn sketches, which made me aware that there is a real need to remind students that hand drawing is a key skill.” Lindy’s Darling Buds design concept will be individually hand-made by Harriet Kelsall’s craftsmen, with Lindy being given the finished ring. Lindy has also been invited to embark on an internship at Harriet Kelsall where she will have the opportunity to work among designers and goldsmiths at the company. “We were looking for a winner who not only read the brief and listened to what the customer said in the clip, but also looked at her style, build and personality to come up with the right solutions which were also practical solutions for an engagement ring,” added Harriet. “We all felt that Lindy’s Darling Buds design stood out and she is a very deserving winner.”

Yasmin Le Bon bracelet raises £2,200 for charity The Children with AIDs charity recently celebrated its 20th anniversary at a red carpet event at the St Pancras Renaissance Hotel, with a focus of the night being the auction of super model Yasmin Le Bon’s Tresor Paris bracelet. Yasmin collaborated with the brand to design a bespoke ruby and gold bracelet, especially for the event. Consisting of five red diamond-set spheres, six rubies and 10, 18-carat gold-plated, ruby-set diamonds, the ‘Le Charite’ bracelet raised £2,200 for the charity.

A charmed effort from F Hinds and Macmillan

National jeweller F Hinds has raised more than £18,000 for charity in just five months. The high street chain raised the money across its 110 outlets, as well as its head office in Uxbridge, Middlesex, selling charms for the cancer support charity Macmillan. The family-owned company also hosted coffee mornings across all of its locations, collecting donations for heart pins, key rings and Christmas decorations. The charms were a product of partnership between Macmillan, F Hinds and Tingle London, and were sold as ‘Tingle Silver Strawberry Cupcake Charms’. All profits (£3,000) were added to the fundraising pot. Director of F Hinds, Andrew Hinds, said: “The support that Macmillan provides is invaluable, and we were delighted to get involved. Grateful thanks also go to Tingle London who created the exclusive Macmillan charm and also donated their own profits.”

ROUNDUP

And briefly Jewellery brands to open series of pop-up shops

This year six designer jewellery brands will collaborate and open up a series of seasonal pop-up shops. The six brands taking part in the ‘Most Wanted’ collaboration are Amy Keeper, Karen Morrison, Katerina Damilos, MIRPURI, Nancy Rose and Poly Philippou. Each brand will showcase its latest collection of contemporary jewellery, with a focus on everyday pieces that can be worn either to work or with evening attire. The designers behind the participating brands will be available to discuss their work and private commissions. The first pop-up boutique takes up residence this spring at NumberNinetyFour, the well-known jewellery gallery set in the heart of east London’s Columbia Road, and runs from 5 to 29 April.

Tatty Devine calls in lawyers

After noticing “virtually identical designs” on sale at chain store Claire’s Accessories, Tatty Devine designers Rosie Wolfenden and Harriet Vine have consulted lawyers. They say that Claire’s Accessories has produced a range of items distinctly similar to their own, including a T-Rex necklace and necklaces featuring fishbone, banana, moustache and glasses motifs. “We place enormous value on designing and making our jewellery by hand here in the UK. As an independent business, having our own original designs is at the heart of what we do. Many independent stores carry our jewellery because of our brand’s integrity, and so we feel very strongly when it comes to protecting our original designs. Our legal advisors have sent Claire’s Accessories a letter of claim, and we are awaiting their response,” the designers told Jewellery Focus.

Albemarle & Bond’s profits rise

Pawnbroker Albemarle & Bond experienced a first-half profit rise, before tax, of 12 per cent to £12.1 million, while the company’s pledge book was up seven per cent to £38.3 million. The company plans to open a further 25 stores in the near future, to add to its 174 fullline stores and 40 pop-up gold buying stores, reported the Evening Standard. “The overall trading environment has remained positive and we are therefore well positioned to capitalise further on the market opportunity,” chief executive Barry Stevenson said in a statement.

Charmed mother wins lucky car

A mother of two from Chapel Allerton couldn’t believe her luck when the purchase of a charm bracelet from a national online jeweller led to her winning a brand new car. Jen Davies was entered into the competition automatically when her husband purchased a bracelet from the Joshua James Jewellery website before Christmas. Now, she has been informed that she is the lucky winner of a brand new Fiat 500. Shaun Bell, managing director of Joshua James Jewellery, was very happy with the outcome of the competition. “This is the first competition of its kind for us, and it has been tremendously popular. We had thousands of entries from as far afield as Paris, Berlin and New York, but the lucky winner is nearer to home, in Yorkshire. I’m thrilled for Jen and her family. I’m really pleased that the car is going somewhere it will be truly appreciated,” he said.

Spring Fair International reports successful show for 2012

The latest edition of Spring Fair International, which took place from 5 to 9 February at the Birmingham NEC, “demonstrated the resilience of the industry against a backdrop of economic pressure and inclement weather, with solid visitor numbers and an improved layout,” said the British Allied Trades Federation. “Tens of thousands of retailers from around the UK and wider world defied snow, blocked roads, train and airport cancellations to catch the first glimpse of 300,000 brand new products being launched by 3,000 exhibitors at the 2012 show, including hundreds of new suppliers and start-up businesses.” The exhibition was transformed for 2012 following a two-year consultation phase with exhibitors, visitors, trade associations and other members of the industry, and significant investment from the show owners. The result was clearer product zoning, improved signage and information points, numerous trend-focused features and a programme of seminars. The Jewellery Show 2012 saw approximately 20,000 visitors pass through its doors, where 97 companies joined the event for the first time, including Cinderela b, who commented: “We made our debut at the Jewellery Show 2012 and not only was the show a huge success for us in terms of orders, but we were overwhelmed by the support provided. Our Vintage Couture range was featured on the catwalk and this encouraged visitors to come and see us. We sold across our jewellery collections from low to high price points and we gained new accounts across the UK and Europe.” 2012 was the first time that the Jewellery Show created an area dedicated specifically to trends, which provided visitors with a host of ideas about how to dress shop windows, what stock to buy and which colours to opt for. Also returning for a second year was the Houlden Design Quarter Gems area, from which the Houlden Group created its Designs of Excellence collection. The Gems of 2012 were: Rachel Galley, Aradia Nista, Babette Wasserman, Cindy Dennis Mangan, William Cheshire, Leyla Abdollahi, Alexander Davis, Flash Jordan and the 2011 award-winner, SHO Fine Jewellery. This year’s award winner was William Cheshire, who was presented with the Designer of Excellence award during a presentation held on Monday 6 February at the Catwalk Café. The next edition of the Jewellery Show will take place from 3 to 7 February at the NEC, Birmingham, in addition to the Jewellery Show London, a new application-only trade event to be held on 12 and 13 June 2012 at Somerset House.

Dates for your diary... 21 – 27 March

BADA Antiques & Fine Art Fair Duke of York Square, London www.bada-antiques-fair.co.uk

15 – 17 April

19 2 – 5 September 20 21

British Craft Trade Fair Great Yorkshire Showground, Harrogate

www.bctf.co.uk

12 – 13 June

The Jewellery Show Somerset House, London

15 – 17 June

Holborn: Cockpit Arts Summer Open Studios 2012 Cockpit Yard, Northington St, London www.cockpitarts.com

Deptford: Cockpit Arts Summer Open Studios 2012 18-22 Creekside, London www.cockpitarts.com

www.thejewelleryshowlondon.com

22 – 24 June

Autumn Fair International NEC, Birmingham

www.autumnfair.com

2 – 5 September

International Jewellery London Earls Court 2, London www.jewellerylondon.com

New Appointments

New appointments

Keeping up to date with your industry representatives

Houlden Group appoints brand development advisor

Gemvision founder joins Sightholder Stuller

The Houlden Group has announced the appointment of Ashley Pugh, managing director of W Bruford in Eastbourne, as its brand development advisor. Pugh has been tasked with repositioning the Houlden Group within the jewellery and accessories industry, with a particular focus on fashion jewellery brands. Recognising the constantly evolving nature of the retail industry and the increasing number of exciting new designers, coupled with rising prices of gold and silver and the impact of ecommerce, chief executive Stuart Laing said: “The core activity of the Houlden Group is to promote fine jewellery and the best of British and continental design, but we also need to respond to new trends, tastes and budgets. The end objective is to secure a new generation of buyers who return again and again, becoming regular clients, and who will buy their diamond engagement rings and other important pieces of jewellery from the same store.” He also added: “It is important for us to be ahead of industry trends and ensure we have the competitive edge to grow our businesses.”

Jeff High, the founder of Gemvision, has joined the Lafayette-based DTC Sightholder Stuller as executive vice president, Gemvision and innovation solutions. The company says his hiring will allow it to provide the jewellery industry with a continuous flow of the latest technology and digital solutions. High will continue his responsibilities with the jewellery software company he founded in Davenport, Iowa, in 1990, but will co-ordinate the activities between it and Stuller. The two companies formed a strategic partnership in 2009 with the goal of enhancing customisation tools for retail jewellers. The partnership produced CounterSketch Studio, the 3D jewellery design platform that allows retailers to work alongside their customers in creating one-of-a-kind custom jewellery pieces. “Jeff ’s wealth of experience on the technology side of the industry aligns perfectly with our goal of bringing the latest in virtual solutions to independent retailers,” said Jay Jackson, Stuller president and CEO. “We’re excited that he’s accepted our invitation to relocate to Lafayette and look forward to the valuable insight he’ll bring to our operation.”

Diamond special

Taking

responsibility

Louise Hoffman asks Michael Rae, CEO of the Responsible Jewellery Council, about the organisation’s work to increase traceability in the diamond industry What is the RJC’s approach and ultimate aim when it comes to the diamond supply chain?

The Responsible Jewellery Council’s (RJC) mission is to advance responsible, ethical, social and environmental practices, which respect human rights, throughout the diamond, gold and platinum group metals jewellery supply chain, from mine to retail. The RJC offers a unique certification system in the diamond, gold and platinum group metals jewellery supply chain – RJC Member Certification – and all Members are required to be audited by accredited, third party auditors to verify their conformance with the RJC’s Code of Practice. Certified Members can demonstrate to their clients and to consumers that their business practices are responsible and are free of such issues as child labour, and unmanaged hazards for workers or the environment. Further, the RJC Chain of Custody (CoC) initiative,

which began in early 2010, involved the development of a standard and a process for independent third-party certification of chain-of-custody systems, as a complement to the RJC Member Certification of responsible business practices. A CoC Standard applicable to gold and platinum group metals has just been launched, and it is envisaged that the RJC will also ultimately have a CoC Standard that enables businesses to demonstrate assurance for responsible, conflict-free supply chains for diamonds.

Towards the end of last year it was announced that the finalisation of the RJC’s Chain of Custody Standard for diamonds, which had been passing through a public consultation process, was to be delayed in order to allow more time for discussion. Can you expand upon the reasons for this decision?

The RJC initiated this work in the belief that chain-ofcustody certification is a tool that can strengthen the integrity of the jewellery supply chain, including diamonds.

Diamond special

Some RJC Members in the diamond supply chain in late 2011 raised concerns regarding certain specific potential impediments to the implementation of the draft RJC CoC Standard in the diamond supply chain. As a result, the RJC Standards Committee agreed to temporarily suspend the finalisation of the draft CoC Standard, as it applies to diamonds, so as to undertake additional consultation with the diamond industry concerning its feasibility. A subcommittee of the RJC Standards Committee, consisting of Members from all sectors of the diamond jewellery supply chain, has been formed with the objective of consulting further with companies and trade associations in the diamond sector in an effort to resolve the concerns raised.

What are the latest developments in the sub-committee process? And how will the consultation proceed?

The terms of reference, including the reporting timetable for the sub-committee are currently being developed and will be posted on the RJC website as soon as they have been completed and formally ratified by the RJC Standards Committee. This is expected to occur any time now. The RJC expects to finalise the CoC Standard for diamonds once the sub-committee has completed its consultations and made its recommendations to the Standards Committee. Stakeholders interested in this issue are also welcome to provide input and feedback to the RJC directly. To facilitate further consultation on these issues, drafts of the CoC Standard applicable to diamonds and precious metals are available on the RJC website. These reflect the input received from the three rounds of public comment held during 2010 and 2011. See www.responsiblejewellery.com/ standards-development/chain-of-custody

Once finalised, how will the CoC for diamonds affect jewellers, in practical terms? And how do you hope it will be of benefit to all parties involved in the supply chain, including the consumer?

Jewellers at the retail end will have the option of finding suppliers of CoC material, if they wish to credibly evidence responsible sourcing, or of also becoming CoC Certified themselves, if they would like to make direct claims to consumers about the jewellery materials that they sell. The CoC Standard is based on the principle of segregation, so a business could aim to either source all CoC material, or would need to segregate CoC from non-CoC material if they wish to be CoC Certified and pass on a CoC claim to their customers.

The RJC initiated this work in the belief that chain-of-custody certification is a tool that can strengthen the integrity of the jewellery supply chain, including diamonds

Diamond images courtesy of the Birmingham Assay Office

When are the first certifications against the CoC for gold and platinum group metals expected? And what has the reaction from the industry been like so far?

Having just issued the gold and platinum group metals related CoC Standard, the RJC expects the first certifications against the standard to be made in the second quarter of 2012. There has been positive interest, particularly from gold refiners because of the increased focus on their sourcing and due diligence practices through the Dodd-Frank legislation and the OECD Due Diligence Guidance. Manufacturers and retailers are also very interested in being able to source CoC material when it becomes available. The process will be working with interested companies once the CoC Standard is launched to provide training and accredited auditors so that CoC Certifications and market supply can grow.

In which other ways is RJC working within the diamond industry?

A growing number of RJC’s Members in the diamond industry are becoming certified against the RJC Member Certification System and playing active roles in the RJC’s governance, including its Standards Committee. RJC has warmly welcomed the International Diamond Manufacturers Association and the Antwerp World Diamond Centre as active Trade Association Members of the RJC. Trade Association and Commercial Members and Certified Members of the Council are available on the RJC website at www.responsiblejewellery.com

Do you feel confident that the initiatives being introduced by the RJC will resonate with the supply chain to such an extent that they bring about real change in the near future? Members have expressed great support for the RJC undertaking research and development on Member Certification and CoC Certification. Adoption of the RJC’s standards and certification will depend on individual businesses determining the value proposition of each of the RJC’s initiatives for their individual circumstances. RJC is encouraged by the growth in its membership and particularly by the rapid rate at which Members are becoming certified. This is indicative of the way the RJC‘s initiatives are resonating with the supply chain.

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 With 40 years of experience in diamond manufacturing and trading,

Shrenikstar offers a wide range of polished diamonds in all shapes and colours. The company specialises in 0.005pts up to 15 carats in qualities from IF to PQ3 in all colours from D to Z. Natural fancy colours are also offered, both with and without certificates. GIA, HRD and IGI certificates are additionally available, mainly in sizes from 0.30pts up to 15 carats. Information: 0032 3233 5916 or info@shrenikstar.com

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“If you are looking for fancy coloured diamonds, the trail ends at M Vainer Ltd,” says the company. The family-run business, located in Hatton Garden, offers a large selection of natural fancy coloured diamonds, as well as microscopic grading facilities, backed by a specialist diamond polishing and repair service. M Vainer Ltd’s claim to fame is the ‘Vainer Briolette’ – a fancy yellow diamond with 192 facets, weighing a cool 116.60 carats. The stone was cut in the company’s workshop from an un-cut 202.85 carat diamond of almost perfect octahedral shape, and the Briolette is featured in Ian Balfour’s book, Famous Diamonds. Information: 0207 242 7078 (Angela Crick) or diamonds@mvainer.co.uk

Elegant embellishments

Loose diamonds to add sparkle to your jewellery creations

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White Pine Trading recently opened a new office in Birmingham’s Jewellery Quarter, building on over two successful years operating in the US, the UK and elsewhere in Europe. In 2011 it traded nearly $50 million worth of diamonds, and it is also at the forefront of the recycled diamond industry. “White Pine buys diamonds of any size, grade or condition at top market prices. Distributing globally to a network of retailers, jewellery manufacturers, diamond manufacturers and diamond dealers, it has a unique view of the diamond market and where to set prices. With a professional and transparent approach, the UK office offers its existing and new customers improved service,” the company explains. Information: 0121 638 0135 (Marie or Dave), contact@whitepinediamonds.com or www.whitepinediamonds.com

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International Gemstones Ltd specialises in brown, yellow, black and pink natural diamond melee, along with a collection of chocolate brown, yellow and other colours in bigger stones. “You might also like to call us for matched diamond pairs, but our biggest strength is in coloured gemstones – especially rubies and sapphires,” the company adds. Much of the stock can be seen on the International Gemstones website. Information: 0207 242 3748, info@thegembank.com or www.thegembank.com

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Based in London’s Hatton Garden, LMJ Imports Limited was founded by Sylvia Mansoor and Sarah Cohen in 2003, and is, as far as they are aware, the only female-owned diamond importation company on the planet. “We are proud of that,” says Sylvia, “as it makes us different. Our clients know and trust us, and we have worked hard to build a reputation for great service, excellent prices and good, honest business practice.” Now settled into new, larger premises with an expanded team, the company is able to supply the smallest loose stone through to the larger, more sought-after certificated diamonds. It is now also able to import the lively Russian-cut diamond, as well as being the UK distributor for the prince cut – a stone that is selling very well. “We are seeing that both the prince and the Russian cuts are increasing their percentage share of our annual output,” Sylvia confirms. Information: 0207 430 0700 or lmjdiamonds@msn.com

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� The CW Sellors 18 carat white gold, diamond and Derbyshire Blue John range is a modern yet classic collection. Pictured are a selection of pendants, and also a British-manufactured ring and pendant set, in which a hand-cut and polished piece of Derbyshire Blue John is surrounded by two rows of hand-set diamonds. Information: 01335 346 561 or sales@cwsellors.com

Dressed to impress A selection of dazzling diamond jewellery to tempt your customers � Vendôme, the newest Flex’it collection from Fope, is entirely made of 18 carat gold, with bracelets and rings made flexible by the brand’s clever mechanism of gold springs. The new collection is enriched with white or black diamonds, which, coupled with the geometric design, create a very elegant effect. Information: 0121 236 1729 or fope@saundersshepherd.com

� Working in silver and 18 carat gold, Ruth Bridges often combines the two to create subtle details in her jewellery. She uses tiny diamonds to add exquisite detail to the smooth, tactile forms that recur in her work. Ruth’s contemporary 18 carat gold rings with brilliant-cut diamonds are available with 0.15, 0.25 or 0.50 carat stones of GSi quality. The 0.50 carat ring has the added detail of tiny diamonds set into the side of the collet. Ruth is passionate about craftsmanship, and all of her jewellery is made and finished to a high standard with attention to detail. Information: 01273 725 170, info@ruthbridges.co.uk or www.ruthbridges.co.uk

� With 40 years of experience, David Taylor offers jewellery that is handmade using traditional skills and tools, rather than a computer. All jewellery is made to the clients’ own designs, or can be designed on their behalf. From remodelling to full suites and everything in between, in gold or platinum, all work is carried out to a high standard. Diamonds and all precious and semiprecious stones can be supplied if required, and all types of setting work can be undertaken, especially pavé, and including watches, gold, platinum and stainless steel. All setting work is returned finished, polished and rhodium-plated, where necessary. Information: 07970 792 212 or info@davidtaylordesigns.co.uk

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Focus on

wedding and engagement rings 4

Naida Ally examines the latest marriage statistics, and the brand new ring designs that are available to offer to 2012’s soon-to-be-hitched customers

s part of the Office for National Statistics’ (ONS) Measuring National Wellbeing programme, a recent article entitled Our Relationships compared the influence of relationships on overall happiness. Whilst the findings aren’t exactly rocket science, the study officially confirmed that “overall satisfaction with life and personal relationships are related.” “Of those who reported a high satisfaction with life (nine-to-ten out of ten), 84.2 per cent also reported a high satisfaction with their personal relationships. Conversely, 34.3 per cent of those who reported a low satisfaction with life (zero-to-six out of ten) also had low satisfaction with their personal relationships,” reports the ONS. Whether these findings

demonstrate that life satisfaction leads to satisfying relationships, or that satisfying relationships lead to life satisfaction, the ‘insightful’ report on the whole suggests that the people of Britain are happiest in pairs. Although a long-term decline in the number of marriages has been recorded since 1972 (a likely consequence of the increasing number of couples choosing to cohabit rather than enter into marriage), the most recent marriage report released at the end of February shows that the provisional number of marriages in England and Wales increased by 3.7 per cent in 2010 to 241,100. The largest percentage increase in numbers from 2009 to 2010 was for men aged 45 to 49 and women aged 30 to 34, both rising by six per cent, while the highest number of marriages was for men and

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women aged 25 to 29. Civil ceremonies accounted for 68 per cent of all marriages that took place in 2010, an increase from 64 per cent in 2000. The number of civil partnerships formed in the UK by same-sex couples was 6,385 in 2010 compared with 6,281 in 2009 – an increase of 1.7 per cent – while the total number of civil partnerships formed in the UK since the Civil Partnership Act came into force in December 2005, up to the end of 2010, is 46,622. Given the statistics, it is clear to see that the demand for matrimonial rings is and will always be prevalent; however, rather interestingly, the demographic is slowly changing. For a retailer, this means being aware of where demand lies, and being able to cater for it. Despite prevailing economic restrictions, David Lamb, managing director of jewellery at the World Gold Council, comments: “Gold, platinum and diamonds are all precious materials; scarce, treasured and eternal – as such they are emblematic of love itself. Design choice proliferates and engraving is increasingly desired as a further form of personalising such an intimate, meaningful object. But today’s brides (and their budgets) are distracted by the disposable theatre of the big day and its props – matching napkins, floral decorations, etc – so fine jewellery is relegated to ‘checklist’

status, especially for him; 39 per cent of US grooms now settle for a ring made from contemporary metal, often sold by jewellers anxious to close a deal at an affordable price point with big margins on this small ticket. Unchecked, this consumer de-prioritisation will move business increasingly online and away from the store. “In an era where we are all reexamining what true value looks like, gravitating towards fewer, better things, a gold band should be something everyone considers. Across cultures and time, gold has symbolised marriage. Last year, in China alone, approximately 120 tonnes of gold was given to new brides. The same promises are made in gold in the west (over 75 per cent of USA brides receive a gold ring) although the product has evolved, with the majority of wedding rings now made in white gold.” With the market for wedding and engagement rings set to stay, here we take a look at a selection of companies that specialise in matrimonial rings, and the options available to suit a variety of tastes. AML’s 2012 brochure has over 60 new wedding bands, along with a unique range that “meets the minimum of price points.” Its range has the flexibility of offering different widths, colours, carats and metals, including platinum and palladium. All of its designs can be made in

any colour, carat or width, with the additional option of diamonds. Palladium, a new trend for wedding bands, is also available and can be made with 9 or 18 carat gold. AML is available six days a week, offering advice, quotes, prompt delivery and more. It also provides a credit facility of six months along with “attractive discounts that really do make AML wedding bands a one stop supplier.” Specialising in diamond-set eternity rings, Eternity Range has been manufacturing handmade pieces for over 15 years, using high quality G/VS diamonds and fine coloured gemstones. The collection includes over 90 different styles, many of which are in stock and available to be sent using its appro service, which can be delivered as soon as the next day. To complement the range, the company offers a bespoke design service to accommodate specific customer requests. With a standard delivery time of two to three weeks, Eternity Range will also endeavour to meet earlier deadlines. The complete collection is available to view online (www.eternityrange.co.uk), with prices available upon registration, and a monthly newsletter can also be requested. In addition, the collection can also be viewed in person, with one of the team able to visit you in the comfort of your own premises. “We believe our customer and after-sales service should match the quality of

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our jewellery pieces, and we offer a one-year manufacturer’s guarantee on all items. Call us to speak to our friendly and experienced team for all your quotes and enquiries,” the company explains. Baird & Co’s 2012 catalogue is now available, containing all of the classic Baird & Co favourites from the Bianco and Renoir collections, and featuring many styles including plain, patterned, shaped, multi-coloured and diamond-set rings. It also offers the option of making rings even more unique by adding coloured stones. With the option of adapting most of the diamond-set styles from both collections by adding to, or replacing

stones with blue sapphires, pink sapphires, rubies and black diamonds, the possibilities are extended even further. All rings are available in 9-, 18- and 22-carat gold, as well as platinum and TrueWhite palladium. Free copies of the catalogue are available on request. UK wedding ring house PH Wedding Rings has been manufacturing (not importing) since the 1960s. With a wealth of experience to offer retailers, the company provides a swift turnaround, promised dispatch times, competitive pricing, close attention to market trends and committed, knowledgeable, friendly and experienced sales staff

who can guide you through each and every sale. The company’s new, fully interactive website (www.phrings. com) allows 24/7 access for pricing on weekends. Catalogues are available to hand out, along with sample ranges and ‘try before buying gold’ to offer to customers. “We frequently make the impossible possible for your customers,” it says. ‘Fresh’ is a “progressive and exciting” collection of gem-set jewellery by designer and craftsman Brian Fulton. The diamond rings in 18-carat gold, platinum and palladium are complemented by plain or diamond-set wedding bands, with dress rings, pendants and earrings completing the collection. “Each stone is hand selected and each piece of jewellery hand finished to ensure the highest quality in every piece,” he explains. Viewing appointments can be made by contacting Brian or Zoe on the telephone number shown overleaf. XMC International Limited is a specialist manufacturer of finished mounts in 18-carat gold and platinum.

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Its range of semi-set and plain mounts caters for a large variety of stone sizes to suit all preferences. Additionally, XMC provides a large collection of eternity rings in different widths and stone sizes. Its ever-growing range now includes a large variety of earrings and pendants to complement the existing designs. At Spring Fair, Treasure House’s new designs created a lot of interest, especially wedding rings set with single or multiple diamonds. With the rings now available in higher quality finishes and new designs, “make sure you stock up now for the spring wedding rush so that you don’t lose out on these higher revenue sales!” says the company. Copies of the wedding bands and mounts catalogue are available now. 1) 2) 3) 4) 5) 6) 7)

AML: 01270 874 011 Eternity Range: 0207 831 8573 Baird & Co: 0207 474 7444 PH Wedding Rings: 0208 203 1919 Brian Fulton: 01768 779 798 XMC International: 0121 523 1028 Treasure House: 0207 400 0000

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Feminine spirit

Laced with diamonds in many hues, Leyla Abdollahi’s Okeanides collection is an enchanting representation of Greek mythology. Louise Hoffman finds out more I understand your skills and passion for jewellery design have been cultivated through your studies in several subject areas, including fine art and gemmology. But to what do you attribute your inherent interest in art and design? I have inherited a love for art and design from both sides of my family. Artistic influences were all around me as I grew up, and they have encouraged my creative character. However, it is primarily a natural instinct, which has never needed to be pushed or forced; I have always found myself drawn towards it over the years. Studying art and design has of course helped to hone this predisposition to become more proficient in my drawing, design and technical abilities.

Tell us more about the ancient mythology that has inspired your most recent collection – Okeanides – and why it captured your imagination…

Okeanides is the result of inspirations gained from nature; the supernatural aquatic characters that rolled the great oceans; and my imagination in general. It is about the feminine spirits who animated the waters in Greek mythology – Goddesses of the Sea. It is a very captivating story with astonishing creatures that belong to ancient myths, which are beyond this world – all interesting and everlasting.

They represent a wonderful, magical world that tells us of tales in which each and every character represents a being that one can relate to.

How do the pieces represent the characters from these tales?

They are all inspired by the particular Okeanis after which they are named, thus their colours, forms and designs embody an individual character from the tales. Flowing organic lines used to evoke the past and memories are transposed into a modern aesthetic, through jewellery that appeals to confident and sophisticated women. Similarly, all of the gemstones have been chosen to bring out her attribute, spirit and temperament, giving a modern, striking twist to something essentially so ancient, and hence creating truly dramatic pieces that are dreamlike.

Have you drawn upon any other creative influences for this collection, and in your previous work?

Myth, history and nature are recurrent themes in my work. I have already explored the symbolic relationship between cultural heritage and body adornment in the past; for instance, I analysed and deconstructed the delicate and intricate details of lace in Victorian fashion into individual

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motifs with a contemporary twist for one of my previous jewellery collections. As for this recent collection, although I have taken much of my inspiration from nature and ancient tales, I created the designs not to be the obvious literal transposition of the natural and supernatural forms that I researched; they should only give a feel of the actual inspiration – their sources. I like them to convey mystery and offer some freedom of interpretation.

Which materials and stones have you used for the Okeanides collection? And why did you choose them?

This collection consists mainly of 18 carat yellow and white gold; I have also created some pieces in platinum. In addition, vibrant gems, such as black diamonds, have been seamlessly integrated into the designs to enhance the individual character of the pieces. When it comes to fine jewellery, diamonds always have a special place; that alluring touch of glamour and sophistication. Hence, coloured diamonds have been used generously.

“Flowing organic lines used to evoke the past and memories are transposed into a modern aesthetic, through jewellery that appeals to confident and sophisticated women”

How has the collection been received by the industry and by clients? Since the launch of the Okeanides collection, which made its debut during London Jewellery Week last year, I have had a great deal of interest from the public, media and retail sectors alike. In particular, the collection has been well received for its use of a flamboyant palette of gemstones in beautiful designs. The industry recognition included being shortlisted for the Treasure Designer of the Year; selected by the Houlden Group as a Designer of Excellence; and winning the Lonmin Design Innovation Award.

Are you working on any new ideas or designs at present?

Absolutely – I am constantly coming up with new ideas for future collections. As a creative mind, one never knows when and where one will get inspired. Ideas always flow when least expected, so one has to be ready. Therefore, I always try to have a piece of paper and a pen handy wherever I am. Due to the overwhelming interest in the Okeanides collection, I am now looking to create an additional range of jewellery using silver, which would open another avenue to my business. The silver range would be as carefully crafted as the fine jewellery line and have the same quirky, inventive design ethos, but with a wider price range. This is currently in the design stage and is planned for launch later this year.

Finally, what are your long-term career goals?

Looking to the future, I am expanding my markets, particularly in the Middle East and Asia, as well as in the United States. For this reason, I shall be travelling to a number of countries later this year to meet potential stockists and to organise a launch exhibition. Furthermore, I am discussing possible collaborations with a couple of artists, which will be announced in due course. As an artist myself, I find this quite exciting as it will elevate my creativity onto a whole new level, with the exposure, potential buyers and collectors this will bring to my brand. I will also be continuing to develop the bespoke commission side of the business, which has consistently proved to work well for me. I have always been active in producing both the designs and the final product for private clients and companies in the UK and abroad. At the moment, I have a number of commissions that I am currently producing for clients.

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Luxury jewellery The Diamond Store  This incredible tennis bracelet from the Diamond Store combines an 18 carat white gold bracelet with 9.1 carats of diamonds, RRP £21,619. With round stones in claw settings, this piece was made in the UK with conflictfree diamonds. Each diamond is 0.35 carat a colour grade of approx I/J clarity I2/3. www.thediamondstore.co.uk

W Hamond  W Hamond introduces the prestigious Whitby Jet and Diamond collection, featuring hand cut, set and polished Whitby Jet gemstones, combined with fine diamonds and 18 carat white gold in unique jewellery designs. The signature Marquise Necklet features 59 Whitby Jet gemstones with pavé diamond surrounds which total 6.54 carats. This stunning lariat style piece currently retails at £26,900, and besides the necklet, matching earrings and a bracelet are also available to complete the suite. www.whitbyjetstore.com

 Ian Gallacher This ring is a prestigious member of the Ian Gallacher collection, which features diamond pieces sourced directly from Antwerp at wholesale prices. The ring features a stunning 1.1 carat marquise diamond in a natural yellow hue, with a further set of 1.1 carat diamonds within the mounting. The ring and mount is 18 carat white gold, providing a sparkling finish to a fascinating piece. Retailing at approximately £6,500, this is for the serious buyer, and has a healthy profit margin for the retailer. www.iangallacher.com

TRENDS

Lucas Jack

Distilling A trends Janet Fitch takes a moment to digest her experiences from the spring fashion events, and to make her resulting predictions for the coming seasons Halo & Co

fter the flurry of spring fashion and accessory shows, I’m enjoying a period of comparative calm to mull over everything I’ve seen, and to form an opinion of what the key trends are for the coming seasons. There are far too many influences to cover in a short column like this, and as fashion and styling grow increasingly diverse, it becomes more important for stores and shops to identify their customers, and their lives and aspirations; after all, there is so much choice out there. The common theme throughout the new season’s collections is craftsmanship – over the last few years fashion has gone from glitz and glamour to a pared down, sleeker, more ladylike look; but that seems set to be more embellished, with print, pattern, embroidery, crochet and needlework – in fact anything that looks handmade rather than factory made. For me, the highlight of London Fashion Week was that it acknowledged for the fist time the importance of jewellery to the mainstream of fashion with a designated showcase – the BFC Rock Vault, sponsored by the International Palladium Board, curated by Stephen Webster, and featuring 10 of Britain’s most innovative young fine jewellery designers.

TRENDS

Goldsmiths’ Centre It was also the setting for a sparkling industry event to celebrate the announcement of the winner of the Palladium Jewellery Design Competition 2012, in collaboration with Central Saint Martins College of Art and Design. The winner, Yuki Agriardi Koswara, designed his outstanding neckpiece ‘Essentia’ to reflect the brief – to showcase palladium’s inherent properties of lightness and strength. At Pure, London, there were 700 fashion and accessory brands on display, including over 100 fashion jewellery brands. Colour is still strong for the autumn/winter season as well as now, and Lucas Jack’s new bright resins – coral red, mint green, turquoise and white, with 24 carat gold plate – stand out from the crowd. (www.lucasjack.com) Scoop is a new and welcome addition to London’s fashion season – an international show of around 170 directional and high quality designers from Europe, Japan and Canada, with exhibits imaginatively set around the Saatchi Gallery’s current exhibition, Gesamtkunstwerk – New Art from Germany. There were plenty of high quality jewellery exhibitors, many from abroad, and new to the UK, making it a stimulating show to attend. Halo & Co, based in North Wales, is a worldwide brand in high quality bridal accessories, supplying many famous faces including the Royal Family. The company chose Scoop to launch its new collection of luxury artisan costume

jewellery, which is right on trend. The three collections – Python, Cheetah, and Middle Eastern influenced Swarovski crystal designs with 24 carat gold settings – are aimed at luxury retailers, and are for those who like bold but feminine statement jewellery. (www.haloandco.com) The new Goldsmiths’ Centre in Clerkenwell, on the edge of the Hatton Garden jewellery area in London, opens its doors formally this month, but is now up and running, and following my first visit, wearing a hard hat and stout boots, I’ve been back to admire the finished, and sympathetically restored Victorian building, with its newly built block alongside. The Centre is set up as a charitable enterprise to maintain and develop art, craft and design skills, including, in particular, those pertaining to goldsmithing. This is achieved by providing managed workspace for training; a programme of courses; workshops and studios for lease to selected applicants; and a conference centre, meeting rooms and exhibition space, available for outside hire. There is also the Bench – the in-house café where students, workshop inhabitants and Centre staff can relax, eat, drink and network, and which is also open to the general public, making it the perfect place for anyone in the jewellery trade to meet when in central London (and the chocolate cake is so delicious!).

Yuki Agriardi Koswara

Comment

Prevention is better than cure With the number and severity of crime incidents against jewellers on the increase, Michael Hoare urges the industry to unite

he sad news of the death of long-standing NAG member Peter Avis of WH Collis & Son in Bury St Edmunds in January, as the result of what appears to have been a bungled robbery, shocked my colleagues at Luke Street, and the wider community of jewellers. Thankfully, arrests and charges soon followed, although another suspect is still at large as I write; but once again someone has paid the ultimate price for someone else’s greed. Coincidentally, a couple of weeks prior to that incident the British Retail Consortium (BRC) released figures attempting to calculate the cost of retail crime, putting it at £1.4 billion last year alone. According to the BRC, the number of robberies increased by 20 per cent and the average cost per incident went up 17 per cent from £847 to £989. Most worryingly, increases in the use of weapons and physical violence were reported. BRC director general Stephen Robertson said: “The falling number of many types of crime is testament to the sector’s own efforts. What is left is a core of more serious and organised criminals who are making off with goods in larger quantities and of higher value.”

When it comes to crime, prevention is always best, and the most effective weapon we have at our disposal is intelligence

But despite the reported 31 per cent increase in overall retail crime costs, I think these figures still underestimate the real price, to jewellers in particular. As many will know, SaferGems is an intelligence gathering and warning mechanism set up over two years ago by the National Association of Goldsmiths and an insurance broker partner, to collect, analyse and act upon jewellery-related crime. Last year alone it received notice of more than 650 attempted attacks and suspicious incidents; that’s an average of 60 reports a month! Of those, 93 were recorded as robberies, 17 of which were on travelling jewellery representatives, equating to £10 million pounds worth of goods being stolen. Sixty-nine aggravated burglaries/smash and grabs accounted for over £1.2 million worth of stock stolen, while 73 commercial burglaries resulted in almost £1 million worth of goods stolen. My own feeling is that no matter how the financial figures

stack up, the unspoken and incalculable cost of violent crime against jewellers is measured in fear, stress, and the loss of valued colleagues. Not just those killed or wounded, but also those who decide that, on balance, a career in the trade is too risky; and that in itself is a tragedy. Less dramatically, in the same period SaferGems also recorded 344 offences of theft, 172 of which involved distraction or sleight of hand techniques, with approximately £280,000 worth of goods stolen. Some school children develop an obsession with conjuring tricks and progress to successful stage careers; while others go on to use their facility for sleight of hand in a much less healthy way, turning their ‘talent’ to crime. Amidst the familiar crimes of burglary, armed robbery, and smash and grab, in the latest SaferGems bulletin there are quite a number of ‘sleight of hand’ offences. In reality most are actually distraction crimes, where salespeople are thrown off balance by unruly children; jostling groups of ‘customers’; or seemingly irrational behaviour, and goods are stolen while their attention is elsewhere. A combination of distraction, sleight of hand, and confidence tricks often involves large wads of money being waved around both to instil confidence in, and at the same time, distract a victim. The result? Stolen valuables and red faces all around. Embarrassing as it may be, if you’ve been the victim of sleight of hand, let SaferGems know and prevent others suffering the same fate! Lastly, the high price of all metals has fuelled thefts across the country. Legislation going through Parliament in the form of the Metal Theft Prevention Bill places new obligations on scrap dealers, but not traders in precious metals, including jewellers. However, as a pro-active preventative measure, the UK will, subject to ACPO agreement, soon see the national rollout of a code of practice for jewellers and pawnbrokers, pioneered by Surrey Police, and designed to deal with the same problems as those already encountered by scrap dealers – namely, stolen metals; but this time gold, silver and platinum, rather than copper and iron. Realising that buying and selling gold increasingly contributes to jewellers’ income, and judging it wiser to frame a voluntary code than be subject to legislation, the NAG and BJA have welcomed the move to cut off the route for stolen goods. Clearly, when it comes to crime, prevention is always best, and the most effective weapon we have at our disposal is intelligence. I would urge everyone to join the fight right now by contacting SaferGems. It’s easy: www.safergems.org

Report

Staying positive High precious metal prices and nervous consumers have caused hallmarking volumes to fall from 34 million articles in 2003 to under 11 million in 2011. In spite of this, the relentlessly upbeat Michael Allchin still delivers a very positive assessment of the UK jewellery industry at the start of 2012

ichael Allchin’s Annual Review of the UK jewellery industry started as a brief analysis of the hallmarking figures for a handful of key customers in 1999. By 2012 it has grown into an event that fills the lecture theatre at the School of Jewellery to capacity, regularly attracts crowds at the Jewellery Show, and is welcomed by a diversity of retail customers including Houlden Group, F Hinds, QVC and Beaverbrooks when the event takes to the road. Michael has selected key points from the Review to share with Jewellery Focus. “The popularity of the Annual Review speaks for itself,” says Michael. “Jewellery retailers recognise that times are changing fast, and while most of the information in the presentation is readily available, they welcome an independent interpretation of the facts which makes them think and take stock of their strategy. It is this willingness to embrace change that has enabled our industry not only to survive, but to thrive in difficult times.” Even for established jewellers, and those working with the statistics every day, the numbers are startling. Gold, platinum and silver prices all show the same inexorable upward curve, and in 2011 diamond prices also rose sharply. Five years ago higher prices started to whittle away at the affordability and perceived value of nine carat gold; in 2011 silver articles have suffered the same fate. Hallmarking

figures are now at their lowest since they were officially published by the four UK assay offices in 1975. But as Michael’s presentation clearly demonstrates, due to the high precious metal prices, the value of the bullion passing through the four assay offices hit an all time high in value terms at over £500 million in 2010, and was close to being matched in 2011. The jewellery and watch market remains strong in spite of the recession. Large scale manufacturing has almost all moved to the Far East, with the exception of a handful of niche companies each employing 50 or so skilled specialist staff. Those that survive have done so because they have anticipated changes in the market and responded appropriately. Likewise, the jewellery manufacturing centres of the UK – namely Hatton Garden and Birmingham’s Jewellery Quarter – are still a focus for the many skills of the trade. Casters, spinners, polishers and setters work alongside talented designers and other skilled craftsmen to create high quality, well designed jewellery and silverware, for which there is still a flourishing market. The resilience of the UK retail market for precious metal jewellery and watches is supported by Mintel figures, which show the annual retail value of fine jewellery hovering around £4.2 billion since 2007 – a figure that has remained constant throughout the recession – while Mintel estimates all categories

Report

Focus on the expert of clothing and personal adornment to be up by seven per cent. However, many jewellery retailers are now tapping into one of the growth areas – accessories, which includes costume jewellery. The value of the costume jewellery market has grown by £100 million (over 20 per cent) in the past five years. Traditional fine jewellers have embraced and driven change while still offering their ‘core’ products of diamond and bridal jewellery and watches. Just as they began to stock white gold and platinum when the ‘white look’ emerged in the 1990s, the ‘noughties’ saw them stocking an influx of emerging jewellery brands. This was a new phenomenon for jewellers who had traditionally relied on their own brand and local loyalty to sell generic products. By 2011 the biggest brands were focused on charms, beads or silver – a metal which in Michael’s opinion only became ‘noble’ for jewellery when Tiffany’s branding gave it a status equal to gold. Brands are the key driver that has pushed silver hallmarking volumes way above those of nine carat gold, with the relatively low price of silver still allowing for a healthy margin, even after massive investment in the brand. And with the threshold weight for hallmarking at 7.78 grams for silver, there are millions of silver items which never appear on the radar at all. And so the cycle continues. Since silver hit nearly £30 per ounce in April 2011, more and more jewellery with not a molecule of precious metal has found its way into fine jewellers’ windows. Beads, titanium, stainless steel, tungsten, rubber, plastic and, most emphatically in 2011, crystal-studded bracelets, have usurped the precious window space previously given to nine carat gold and branded silver. Promoted via clever product placement, strong websites and pro-active use of social networking

sites, new brands have appeared almost overnight and are delivering the regular footfall and high margins that jewellers rely upon alongside their high-value, low-volume sales of diamonds and upmarket watches. Michael also identifies the reverse side of the high gold price, which is the continuing potential to trade in scrap gold. In 2010 the UK was the world’s 12th biggest market in terms of consumption, but the sixth in terms of scrap being returned and melted down. Nearly 70 tonnes of fine gold, around 200 tonnes of jewellery, were melted in the UK in 2010. Statistics suggest there is still a lot more to come. The true distress selling is over, but with Mintel estimating that 14.8 million people own fine jewellery they never wear, there is still scope for more of this lucrative business. Footfall is another fascinating topic as it now means much more than potential customers visiting the store. From cynicism in 2000, when 247k.com founder Clive Billing was repeatedly told that jewellery could not sell on the internet, almost every jeweller has proved this not to be the case. Jewellers have recognised the opportunities offered by ecommerce and the new mcommerce (mobile commerce), which is once again revolutionising shopping habits. A total of 6.8 million new Apple or Android devices were activated on Christmas Day 2011 – that’s nearly seven million more iPads, tablets and phones from which potential customers will research before they buy, compare prices while actually in-store, and, in many cases, finally make a purchase. People are shopping 24/7, including 62.8 million online retail visits on Christmas Day 2011. The jewellery industry needs to be up there with all of the other sectors competing for disposable income, particularly on Boxing Day and 27 December when, over the two days in 2011, there were more than 180 million visits to retail sites in the UK. This is a whole new world to be exploited. Regular attendees at Michael’s presentations will know he has some favourite quotes to embellish his analysis. “Two are particularly pertinent in 2012,” says Michael. “The jewellery industry would seem to have already responded to Warren Buffett’s ‘Noah’ rule – ‘Predicting rain doesn’t count; building arks does.’ However, there is no room for complacency. The wisest words come from baseball player Yogi Berra when he declares: ‘The future ain’t what it used to be.’ And that’s especially true if you are an assay master!”

Michael Allchin

Michael has been chief executive and assay master of the Birmingham Assay Office since January 1999, and has driven its successful diversification into new areas, all closely related to jewellery and precious metals. A Cambridge graduate, Michael has spent his career in the jewellery industry and has bought and sold for companies ranging from small private concerns to Signet Group Plc, where he was buying director for H Samuel for 14 years. He has extensive experience and a sound understanding of the dynamics of the UK jewellery industry, and as an attendee at the British Hallmarking Council and International Hallmarking Convention meetings he also has thorough knowledge of legislation and global issues relating to jewellery. Michael is a director of CIBJO, the World Jewellery Confederation, and of the Responsible Jewellery Council, and a freeman of the Goldsmiths’ Company.

The Birmingham Assay Office was founded in 1773 to provide a hallmarking facility to the rapidly expanding local silver trade. Over nearly 240 years it has become established as the largest UK assay office. During the past decade it has expanded its services further, far beyond its statutory assaying and hallmarking duties, and offers independent expert opinion and training on every aspect of the precious metal, jewellery and gemstone trade.

TAKING STOCK



Re-launching for 2012 is London-based bespoke contemporary jeweller Tawny Phillips, whose designs have previously been stocked by the likes of Paul Smith, Lane Crawford, Donna Karan and Harrods. The collections, created with natural elements, feature signature heavyweight pieces, demonstrating a combination of bold organic shapes with tactile finishes. Information: bespoke@tawnyphillips.com

Takin Taking

stock



Goldmajor has combined steel with a combination of semi-precious stones to create a glamorous and appealing range at competitive prices. “Steel jewellery is renowned for masculine, strong, dominant styles, but the new ladies’ steel ranges convey a practicality and durability, but with a feminine twist,” the company says. Information: www.goldmajor.com



Bullion Lab offers commercial precious metal refining and bullion trading in Birmingham’s Jewellery Quarter. The company is able to receive precious metal consignments through its trade counter, and can also provide clients with assay and payment services on the same day. Bullion Lab’s servicebased ethos is “focused on absolute customer satisfaction – wherever you may reside in the UK.” It offers free collection and delivery services for large account customers and aims to provide every client with an accurate, efficient, timely, secure and courteous service. Information: 0121 212 1154 or sales@bullionlab.com

�

 

“Perfect for summer 2012” is the brand new Olympic and Diamond Jubilee Candy Bling range from Charms UK. Celebrating the London 2012 Olympics and the Queen’s Diamond Jubilee, the range picks up on the season’s trends by featuring eye-catching Union Jack crystals. There are 11 pieces available: six bracelets, three pendants and two pairs of earrings. The full Candy Bling collection includes over 150 bracelets and necklaces created in sterling silver with cz, crystal, pearl, hematite and different colours of silk cord. The bracelets are available in a variety of colours and styles – stack them or wear them singly. Contact Charms UK for a brochure or to place an order. Information: 0117 968 3979

The new contemporary ball locket is now available from Curteis. The sterling silver, British-made ball lockets are available in three finishes: high polished, textured matt, or for the ‘best of both’, half polished and half matt. When the ball is opened, the locket reveals two circle frames, complete with felt and plastic to accommodate a treasured image. The items are “hand assembled at our Shropshire factory, to an extremely high standard,” the company adds. Information: 0800 195 6771 or www.curteis.com

BUSINESS

Counting

the cost

Carl Hasty of Smart Currency Exchange explains how using a specialist to make international payments could save your business money and bring some welcome stability to your cash flow

ou can’t work in the jewellery business without being keenly aware of the dangers of fluctuating prices. At the beginning of 2011, diamond prices rose by 40 per cent, only to give up half of that price rise with a 15 to 20 per cent fall in August/September – this type of price movement can make budgeting for the future more than a bit tricky. With this continual uncertainty over the price of raw materials, it makes sense to have as much control as possible over those costs that you can manage. Another uncertainty that businesses making regular international payments have to deal with is currency exchange rates. One of the many repercussions of the global economic crash of 2008 is that previously stable currencies have since fluctuated in value to a much greater extent.

How exchange rates can affect your business

So how does this affect your business? Let’s say that last month you agreed to buy €10,000 of raw materials from a European supplier. Let’s look at how much you would have to pay to settle that contract, on two different days: 20 February: £8,316 24 February: £8,506 The change in the pound/euro exchange rate means that you could have lost £190 in under a week, simply by delaying paying the invoice by just four days. The problem is exaggerated if we look over a slightly longer scale: 28 October 2011: £8,821 9 January 2012: £8,224 In just 10 weeks, our €10,000 contract has decreased in cost by almost £600 – that’s a seven per cent difference in price.

But what can you do about it?

Faced with this instability, many companies take the sanguine view that “no one knows where the markets are going so there’s no point in worrying about it – we’ll just take whichever rate is offered at the time.” There is an element of truth in this – predicting the movement in the market can be difficult, even for the experts – but there are ways that you can limit the effects of these changes. The simplest change you can make is to use a currency specialist to exchange your money, rather than buying your currency through a bank. The benefits of using a specialist foreign exchange company rather than a bank are numerous. Let’s run through a few of them:

Reduced or no transfer fees

International bank transfer fees

BUSINESS

With the continual uncertainty over the p r i c e o f r a w m a t e r i a l s , i t m a ke s s e n s e t o h a v e a s m u c h c o n t ro l a s p o s s i b l e over those costs that you can manage

are usually around €20 to €30 per transaction, but many currency specialists won’t charge anything, certainly for larger transfers. Let’s say you’re only making five transfers a month – at €25 per transfer that’s still €1,500 a year that would be better in your account than in your bank’s.

Better exchange rates

Currency specialists consistently offer better exchange rates than your bank – if you buy at the time you need the currency (known as a spot contract), currency specialists can save you up to four per cent compared to the price that you'd get from buying from the banks. On top of this, the profit margin that the banks take can vary greatly on each transaction – with some currency specialists you’ll be able to set a transparent fixed margin, allowing you the peace of mind that you are getting

Peace of mind

Currency specialists are also just as safe and easy as using your bank – if you’re considering switching, the first thing to check is that the currency specialist you’re thinking about using is authorised by the Financial Services Authority (FSA), which ensures the reputation of the company and the safety of your money. It’s also worth checking where your funds will be held – most currency specialists will hold their clients’ funds in separate bank accounts to the company’s funds, making your money even more secure. Most currency specialists will also offer a simple, online sign-up process, but when setting up your account it’s often helpful to talk to a real person rather than relying solely on a website’s application form. It’s a good idea to ring the company you’re thinking of using and ask to chat to someone who can talk you through the sign-up process in plain language, without using too much technical terminology. This should also help you to get a good feel for the company, taking notice of how long you are kept on hold; how easy is it to get to speak to an account manager; and whether you will get a dedicated account manager, who you can speak to every time you call. Once you have answers to these questions, you’ll be in a position to make an informed choice about how to proceed.

a good rate for every transaction.

Currency strategies – the forward contract

The bigger benefit comes in working with currency specialists to develop a currency strategy. For example, one such technique used by currency specialists is a forward contract, where a company pays a small deposit (typically five to ten per cent) to guarantee an exchange rate in advance of needing the full amount. When the invoice needs to be settled, the company pays the rest of the money and gets the foreign currency at the agreed rate, regardless of what has happened to the exchange rate in the meantime. So you could budget a guaranteed amount to pay your €10,000 contract, safe in the knowledge that you’re protected if the market moves against you.

Carl Hasty is head of trading at currency specialist Smart Currency Exchange. For further information please visit or call 0207 898 0500.

Industry

Palladium visions Following a visit to the recent palladium-focused Rock Vault event, Syreeta Tranfield considers this metal as a key growth area in jewellery retail

alladium may still be the ‘new kid on the block’, but retailers stocking palladium to really brief their team on the it does seem to have gained momentum. I recently key brand identifiers and messages, as well as the aspirational attended the British Fashion Council’s Rock Vault nature of our Palladium Visions campaign,” advised Brad. during London Fashion Week, which was sponsored “Retailers may also want to hold in-store events, highlighting by the International Palladium Board (IPB), and featured five palladium more broadly as well as their palladium stock. A lot concepts created in palladium by students from Central Saint of cutting edge designers are creating interesting pieces using Martins (the winning Palladium Jewellery Competition 2012 palladium, which I'm sure will inspire retailers.” design by Yuki Agriardi Koswara is pictured below). Apart from the fact that it is a real education job, the Speaking to the chairman of the IPB, Brad Mills, it was IPB has come up against little negativity. In fact, it says it is interesting to hear about their plans and also his predictions quite the opposite, and bearing in mind price point issues for the future of palladium. He was keen to point out that and metal prices, consumers and retailers are open to other the metal works well for fine and bridal jewellery but also options. There seems to be room for palladium alongside for higher end fashion jewellery: “The type of jewellery other metals to complement and enhance stock. palladium is well suited to is similar to that of platinum, Voice of the highstreet although in terms of price points, it is approximately half the Jonathan Lambert was able to give his opinion on palladium price of platinum yet more expensive than silver. Palladium from the perspective of a leading UK retailer. In terms of has very good strength and is lighter than some metals, so the palladium jewellery he stocks, it is the men’s wedding it can work well for earrings and necklaces, for example. bands, retailing at up to £1,000, which are currently doing Its lightness and strength make it a good metal in terms of well. Different finishes like sandblasting and diamond cutting design, and it is also very pure, with no alloy issues.” seem to work well in palladium, as well as more contemporary The IPB works with the industry to promote palladium designs, and Jonathan pointed out that the metal certainly jewellery and its strengths, aiming to create brand awareness works well in heavier jewellery and for him the main selling of palladium as a metal, through broad campaigns and point is its naturally white properties. events, as well as making ‘opinion formers’ aware of the As retailers deal directly with customers, I asked Jonathan metal. “Ultimately we aim to create the right climate for if his customers are aware of palladium jewellery before they palladium jewellery, increasing awareness and demand arrive at the store. He noted that it varies: “Couples who have among consumers and the industry,” Brad stated. “Some researched on the internet before markets are further along than the UK, coming into the store certainly seem for example in China the metal is now well “Palladium has very good to have some knowledge of palladium, known and seen as good value. We are now but we find most people need doing a lot of work in the UK to build the strength and is lighter than concept of palladium jewellery here.” some metals, so it can work well educating in-store.” While the IPB may not have come By working with the industry to build for earrings and necklaces” up against obstacles, I wondered if real brand awareness, consumers are the retailers are facing challenges in terms ultimate target for the IPB, which is trying of negative perceptions of palladium. to spread a long-term message via the Jonathan said: “Since we introduced industry and key decision makers. Brad palladium the biggest challenge has identified the female buyer as a key target been the rising price, as it no longer audience, despite retailers informing me fits where we intended it to in terms of that men’s wedding bands are a big hit for price point. However our customers palladium jewellery. “Even when men are have been receptive and despite the actually doing the buying, research has cost implications we have not hit any shown that it is often women who make the major obstacles with selling palladium decision and have a strong influence, so jewellery.” when they are aware of palladium it has a It sounds like there is definitely strong knock-on effect.” a place and a market for palladium Creating the right climate for palladium alongside other metals, and I think opens the door for retailers who stock it’s certainly worth keeping track of palladium jewellery, and the IPB encourages palladium jewellery trends. and supports them. “We would recommend For more information about International Jewellery London, please visit

NEW TIMEpieces

Due to be launched in the spring, the Asics sports watches demonstrate three core values: to be easy to wear, easy to view, and easy to operate. Special attention has been paid to the watch design, which employs a case offset well to the left so that the buttons can be accessed easily, reducing interference with the movement of the wrist. The range is split into two collections – Elite Racer and Challenge Racer – and all of the watches are characterised by lightweight and breathable straps; large and clear displays; and large buttons for ease of operation. The watches are suited to anyone wanting to time their exercise, but for serious runners they also have the ability to store up to 500 laps, or training sessions. Information: 01628 770 988 RRP: From £70 to £90

New timepieces Breguet’s Tradition collection is being enriched this year with an original model in 18-carat rose gold. This Grande Complication timepiece, featuring a tourbillon, fusee and chain transmission, and a Breguet balance spring in silicon, joins the existing models in yellow gold and platinum. Inspired by the ‘souscription’ watches created by A L Breguet, this ‘objet d’art’ symbolises both a return to roots and a resolutely forward-looking brand vision, highlighting the contrast and relief effects and giving vibrant life to each component. The rose gold re-edition of the Tradition 7047PT also features a silicon Breguet balance spring, as well as a new black, galvanic-coated and engine-turned 18-carat gold dial. Information: 0845 273 2500 or www.breguet.com RRP: Price on request

ODM launches its latest range in collaboration with established avantgarde designer Jean-Charles de Castelbajac (JC/DC) this spring. The JC/DC Grafftime DD125A is available in five designs and colourways and features JC/DC’s trademark use of primary colours, with the emphasis on fun, childhood and fantasy. The watch casement is based on the ODM Rainbow overlaid with JC/DC’s trademark design. All watches are digital modules with a PC case, transparent black lens and silicone straps. Grafftime styles display time and calendar and all watches are water resistant. Information: 0844 812 6061 or sales@tidedistribution.com RRP: £105

The new Nomos Glashütte Zürich is “for open-minded people with a clear sense of reason… reflect[ing] a love for logic and the art of engineering.” The model is available in four variations, with a light or dark dial and with or without a date indicator. “All of the forms in the case are generous, yet delicate and precise at the same time, created from simple individual shapes. [The watch is] a miniature work of art that tells the time for a lifetime – and even longer,” says the company. Information: 0049 350 534 040 or sales@glashuette.com RRP: £2,390 (steel back) or £2,580 (sapphire crystal back)

SELLING

Making contact Brad Huisken delivers the second part of his advice on the initial contact stage of a sale

ast month we began our series on initial contact. If you recall, there are three goals to initial contact: to eliminate fear; to create a person-to-person relationship; and to start building or establishing trust. In order to accomplish these three goals a salesperson has to have a meaningful non-business conversation. This may occur right up front, but in all likelihood it will happen later in the selling process. First I’m going to cover some other issues on initial contact, and then discuss meaningful, non-business conversations.

The approach/greetings

The days of schmoozing with the customer; a pass-by technique; the merchandise approach; showing your favourite item; and/or the sale merchandise approach to the customer are over. Today’s customers expect a more personalised service and could perceive these approaches as rude, self-serving and condescending. Furthermore, “Can I help you?” and “No thanks, I’m just looking,” have become programmed responses with both salespeople and customers. I would recommend that you greet or approach customers coming into the store just as you would a friend coming to your home. When a friend comes to your door you certainly don’t say: “Hi, can I help you?” I also bet that you don’t open the door and worry that you might sound aggressive by speaking too soon, or let them look around your home for a few minutes until you think they are comfortable. I think you say something along the lines of “Hi, how are you today? Welcome, come on in!” The same should hold true with your customers. Greet your customers with a warm friendly greeting, for example: “Hi, how are you? Welcome to the store. Can I offer you some tea or a cold drink?” After all, never forget, you are greeting your business friends into your business home. With this type of greeting, you will receive one of two different responses;

one being that the customer will reply to you, at which point you are on your way to a meaningful, non-business conversation. You just need to have other things that you can talk about, which we will address shortly. Or, the customer may still say: “I’m just looking.”

The verbal map

When a potential customer says: “I’m just looking,” I would recommend that you try a verbal map, or in other words, a verbal layout of the store. For example: “That’s terrific, let me tell you where you can find things. Over here are ____ and over there are _____ etc.” While you are giving the customer a verbal map, he or she will either start heading in the direction of the items that are of interest, or say: “Oh great, I wanted to look at the _____,” thus achieving the goal of creating a conversation with the customer.

Meaningful, non-business conversations

Your ability to create a meaningful, non-business conversation and thereby eliminate the natural fear that your prospects have, will directly affect your sales success. It is not your ability to handle objections and close the sale that is the secret to a successful selling career; the secret lies in your ability to engage in conversations. A professional salesperson knows that the more comfortable his or her clients are, the more they will be willing to listen to the sales presentation, and the easier the transaction will be. In order to eliminate fear, create a person-to-person relationship and start to build trust you must first get into a meaningful, non-business conversation with your client. This is what actually caused the birth of the ‘circle of the sale’ in my mind. You will probably have a meaningful, non-business conversation later in the sales process; for example, in the needs assessment stage, once you have found out the emotional reason behind the purchase – a birthday, anniversary, or engagement are all easy

subjects. There are three rules to your initial contact dialogue that must be adhered to in order to get people to carry on a non-business conversation with you. They are: 1. You must ask a question; 2. Your questions must be non-business related; 3. Your questions have to be interesting enough to cause people to want to talk with you. To be effective as a professional you should have 20, 30, or 40 pre-rehearsed initial contact questions prepared, and a few ideas of subjects that you can develop into such questions are as follows: current events, sports, holidays, automobiles; pets; jewellery; the home; family. Subjects to avoid include politics, religion, compliments etc, as these can be sensitive or controversial topics and the last thing you want to do in an initial contact is to offend your prospects. We have all made mistakes, for example asking someone when they were expecting, only to find that they weren’t. Don’t make assumptions – they are bound to get you into an uncomfortable position.

Personal space

In all face-to-face contact, you need to be very aware of the fact that nearly every human being carries with them a certain degree of personal space. As a salesperson, you cannot violate customers’ personal space; standing too close, touching them on the shoulder, or even a handshake in this early part of the sales presentation may be deemed a violation. On the other hand, should a customer violate your personal space, ignore it. After all, he or she is the customer.

Prejudices

Unfortunately, we live in a prejudiced society. In selling, we have to be aware of the role that people’s prejudices play in the sales scenario. We all know there are some people who are prejudiced against other types or kinds of people,

SELLING

but there is certainly no room for prejudice in sales, or on the part of the professional salesperson. In addition, we all need to realise that some people are going to be prejudiced towards us for any number of reasons. It doesn’t matter what colour you are, or what you look like; someone may be prejudiced against you. Is it stupid and ridiculous? Of course it is. However, prejudices are a fact of life, so beware and be aware! The best way to deal with a prejudiced customer is to sell them and sell them a lot. However, you may not be the most appropriate person to make a sale happen, therefore should you find yourself in a situation where a customer is prejudiced toward you for some reason, the only answer is to turn them over to someone else.

The time poverty issue

People today are suffering from

what has been called ‘time poverty’. It seems as though everyone is in a hurry, and so they may not want to get into a non-business conversation with you, however you cannot miss out this step. At some point during the sales presentation, you have to have a non-business conversation. It may come during the needs assessment process or the demonstration; it may even happen after you have closed the sale. The point is, at some time during the presentation you need to uncover personal information that will allow you to have a meaningful, nonbusiness conversation about something important to the individual customer.

Getting to a business conversation

Having made or attempted your initial non-business conversation, you then come to a point where it is time to get down to business. The question to ask

is: “So, what brings you into our [/shop name] shop?” It is always in your best interests to use the name of your company whenever possible. Using the company name will let the customer know that you have pride in your organisation and that you are readily willing to be associated with it. Through using this question, the customer just might tell you exactly what they are looking for, the event/special occasion, or that they are simply looking. That’s fine, because now we have a tool for the “I’m just looking” customer – the verbal map, tour of the store, or tell the customer a little something about your company (start selling yourself, which will be the topic of another complete article). Alternatively you can move on to your next question. The process of asking the ‘next best’ question, or the ‘needs assessment’ stage, will be next month’s subject.

Author, trainer, consultant and speaker Brad Huisken is president of IAS Training. He authored the book and his new book He developed the PMSA Relationship Selling Program, the PSMC Professional Sales Management Course, the Train the Trainer Course, the Mystery Shoppers Kit, and the Weekly Sales Training Meeting series, along with aptitude tests and proficiency exams for new hires, current sales staff and sales managers. He and his staff of trained professionals also conduct in-house training and consulting all over the world on an ongoing basis. In addition he publishes a free weekly newsletter called Sales Insight. For a free subscription or more information on IAS Training, contact IAS Training on 001 303 936 9353, or

DATA

Prices • Figures • Outlook Retail sales volume: January 2012

Metal Prices £/Unit

Jan 12

Feb 12

Mar 12

% Change

January 2012 saw the seasonally adjusted all retailing sales volumes increase by two per cent in comparison to January 2011, and by 0.9 per cent compared with December 2011. The seasonally adjusted all retailing sales values increased by 4.4 per cent, compared to January 2011, and by 0.9 per cent compared to December 2011. The index levels of the volume and value series between October 2009 and January 2012 (see graph), demonstrate that the volume series remained broadly flat until around August 2011, followed by a modest increase. The value series, however, increases at a much faster pace throughout the period shown. This suggests that the increase in the value series is largely influenced by an increase in prices rather than an increase in the amount bought. Small businesses fared better than larger stores, and compared with the same time last year, retail sales values in January 2012 saw all businesses’ sales values increase by 4.1 per cent, with small businesses’ sales values increasing by 8.5 per cent and large businesses’ sales values increasing by three per cent. In January 2012 an estimated £24.6 billion was spent in the retail sector, compared to £42.1 billion in December 2011 and Source: ONS £23.6 billion in January 2011.

Sterling Silver £/Kg

564.70

634.18

640.30

Plus 1%

Gold £/g

33.67

35.24

34.47

Minus 2%

Palladium £/g

13.35

14.21

14.12

Minus 1%

Platinum £/g

29.86

33.21

33.64

Plus 1%

Rhodium £/g

28.56

30.81

31.11

Plus 1%

Iridium £/g

22.64

22.19

22.13

No Change

Ruthenium £/g

2.30

2.56

2.65

Plus 4%

Scrap Metal £/Unit

Jan 11

Feb 12

Mar 12

% Change

Sterling Silver Scrap £/Kg

530.21

595.44

601.19

Plus 1%

9ct Gold Scrap £/g

12.18

12.75

12.47

Minus 2%

14ct Gold Scrap £/g

19.01

19.90

19.46

Minus 2%

18ct Gold Scrap £/g

24.37

25.51

24.95

Minus 2%

22ct Gold Scrap £/g

29.76

31.15

30.47

Minus 2%

Platinum (95%) Scrap £/g

24.11

26.81

27.16

Plus 1%

Data supplied courtesy of Cookson Precious Metals. www.cooksongold.com All prices shown on this page enjoy indicative status only. Jewellery Focus and Cookson Precious Metals accepts no responsibility for their accuracy or for any use to which they may be put

Diamond prices Weight

G/VVS

G/SI

J/VVS

J/SI

J/I1

0.05 Carat

1,759

968

1,214

880

774

0.10 Carat

1,689

1,078

1,629

965

724

0.25 Carat

2,730

1,508

2,281

1,282

875

0.50 Carat

7,434

3,353

4,738

2,915

2,478

0.75 Carat

9,149

5,489

5,982

4,082

3,237

1.00 Carat

16,151

8,550

10,773

6,922

4,479

The table above has been prepared by SafeGuard and is an average of the retail selling prices of round brilliant cut diamonds per carat including an average retail markup and VAT. There is no allowance for the mount but the prices have been taken from mounted goods prices. The table is also compared with International diamond prices for additional accuracy. Compiled at 1st March 2012 /Dollar Exchange Rate 1.5915

Hallmark figures - Feb 2012 Month Feb 11

Month Feb 12

Variance

471 886 428,746 11 430,114

933 669 324,839 1 326,442

462 -217 -103,907 -10 -103,672

98.1 -24.5 -24.2 -90.9 -24.1

13 4 27,411 59,359 12,357 217,319 316,463

110 0 28,087 49,282 4,653 204,167 286,299

97 -4 676 -10,077 -7,704 -13,152 -30,164

746.2 -100 2.5 -17.0 -62.3 -6.1 -9.5

7 18,091 6 17 18,121

20 19,949 12 1 19,982

13 1,858 6 -16 1,861

185.7 10.3 100 -94.1 10.3

1 10,088 84 10,173

0 7,514 336 7,850

-1 -2,574 252 -2,323

-100 -25.5 300 -22.8

774,871

640,573

-134,298

-17.3

Silver 999 958 925 800 Gold 999 990 916 750 585 375 Platinum 999 950 900 850 Palladium 999 950 500

Total

The total number of units hallmarked across the four UK assay offices was down by 17.3 per cent in February 2012. This was an improved picture on the previous two months, with the total number of gold articles down 9.5 per cent, silver down 24.1 per cent, platinum up 10.3 per cent and palladium down 22.8 per cent. Source: Birmingham Assay Office

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YOUR VIEWS

Voice

onthe

highstreet

Peter Wong of

Wongs Jewellers, Liverpool

Could you tell us a bit about the history of your business?

My mother and father, Susan and Brian Wong, established Wongs Jewellers in 1979 and our family business has now been going strong for over 32 years. Initially it was set up as a small, out-of-sight workshop on Mathew Street, and then the business moved to slightly larger premises in Rainford Square, before undergoing a huge transformation in the last year and relocating to a spacious highstreet showroom in Liverpool city centre. I began working for the family business when I left school at age 16, and took over the day-to-day running of the business in 2006. My mother and father are heavily involved in the business and my father remains in the workshop three days a week. We showcase a variety of independent and award-winning brands as well as our own creations in-store, and are proud to see our range of beautiful collections increase each year.

Which services do you offer?

We specialise in platinum and diamond engagement, wedding and eternity rings, but it is our on-site workshop that we feel separates Wongs from the crowd. Our state-of-the-art facility allows us to design and create custom-made pieces of jewellery, as well as carrying out valuations, repairs, re-models and watch servicing, all within our city centre showroom. Our highly skilled craftsmen are integral to the bespoke service we provide, and the on-site location allows our customers to see the goldsmiths at work.

How have you found the recent expansion to your brand new showroom?

It was a bold move for us to invest in the new showroom, but one that we think has already begun to pay off. After nearly 30 years operating out of back-street showrooms with limited space, our new home has more than enough

Your Views

What’s the biggest challenge you face on a day-to-day basis?

The biggest challenge we face as an independent jeweller is keeping up with consumer trends and expectations. Research into buying and visual merchandising is now more important than ever and we aim to seek out promising young designers and stay ahead of trends by attending industry showcases and high profile international events such as Baselworld. We also try to be as pro-active as possible when it comes to our windows and in-store displays. The days of putting some stock in the window and sitting back are long gone. Customers expect elements of theatre and luxury when purchasing jewellery, and our new showroom has allowed us to transform the way we present our products. room for our customers to sit back, relax and enjoy their time in-store, as well as plenty of potential for further growth. We’ve been lucky enough to see trade steadily increase since opening the new premises, and last December was our best ever month of sales. This recent growth has also allowed us to create a platform for the Wongs brand itself and encourage our craftsmen to expand our own range of jewellery.

Do you have any other developments in the pipeline?

As well as continuing to expand on our bespoke engagement, wedding and eternity ring offering, we have plans to open a small jewellery boutique just around the corner. We currently have a secondary area just off our own showroom, which opens out to Liverpool’s Button Street. I believe that the space would be perfect for a small, silver- and fashion-focused jewellery boutique and would give us the opportunity to work with even more independent designers and expand our market reach.

How would you say new technology has affected jewellery retailers?

Technology plays a big part in the design of jewellery nowadays. Investing in equipment, software and the necessary training that comes with new methods can be a strain at first, but six months down the line you will wonder how you ever got along without it. We use computers and the latest CAD technology to develop our bespoke jewellery designs, but ultimately it remains the skill of the goldsmith to turn these casts into the final piece, and this is something that technology will never be able to replicate.

What do you enjoy most about your job?

Each day is unique and filled with a variety of customers who are looking for different things. It’s wonderful to see who we will welcome in-store each day and what they will take home with them.

What are your plans for the future?

Our website, www.wongsjewellers.co.uk, was launched in 2010 and now our online shop is about to go live. Developing online aspects of the business has been key in the last few years, and we believe that this feature will allow us to grow as a retailer. Aside from this, our plan is to stick to the customercentric values that have enabled our family business to grow and prosper for over 30 years and become the destination in Liverpool for luxury jewellery.