Jewellery Focus June 2012 by Designed by Arthouse Publishing

Jewellery Focus

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

FOCUS

June 2012

Gemstone special: An array of colourful loose stones and jewellery designs Bobby White sets the scene for his new Romeo and Juliet inspired collection

Prepare for your visit to the inaugural Jewellery Show London this month

CONTENTS

Jewellery FOCUS

June 2012

GEMSTONE SPECIAL Treasured gems

A varied selection of new gemstone jewellery designs to captivate your customers

Focus on loose gemstones

16 21

Naida Ally delves into the history and sales potential of gemstones, and hears about the trade offerings of a selection of loose stone suppliers

Syreeta Tranfield

Speaking with representatives of gem education and jewellery design, Syreeta considers the importance of good background knowledge when buying loose gemstones

ALSO IN THIS ISSUE Editor’s letter

Michael Hoare

Roundup 8 The latest news from the industry

Face to a name

Get acquainted with new and existing industry representatives

Designer of the month

Jewellery Show London preview

Discover some of the highlights of the inaugural Jewellery Show London, which is set to be held this month at Somerset House, and prepare for your visit

Janet Fitch

Inspired by the forthcoming Diamond Jubilee celebrations, Janet browses a selection of jewellery masterpieces, both new and old

June 2012

Taking stock 50 New offerings from the industry

Louise Hoffman catches up with Bobby White to learn about his latest collection, which is inspired by Shakespeare’s powerful love story – Romeo and Juliet

Seeking to protect jeweller and consumer alike, Michael announces a new scrap gold standard developed by three of the sector’s most influential trade associations

Selling Watchword 40 Ian Shaffer of BQ Watches discusses his company’s rapid growth and the reasons behind the continued consumer demand for pre-owned watches

Watch focus

Trends in timepieces

A day at the Office 46

In the second of this new series from the Birmingham Assay Office, gemmologist Rebecca Share takes us through a typical day in the diamond certification lab

Mastering the art of good questioning isn’t easy, but it is the key to successful needs assessment during a sale, says Brad Huisken

Bricks and clicks

Industry data

Voice on the highstreet

Scott Storey, managing director of CTS Retail, discusses why more retailers need to combine Their online and offline activity in order to maximise sales

Wendy Laing and Lauren Anderson of Laings of Glasgow

Jewellery FOCUS

editor's letter

Editor’s letter A

t time of writing, I am just about recovered from the rather spectacular Tresor Paris ‘Sparkle’ party, held at Gilgamesh in Camden, London, to mark the brand’s first anniversary and to raise money for Breast Cancer Care and Children with AIDS Charity. My fellow guests and I were treated to cocktails, a sumptuous array of nibbles, live music and dancing, and a charity auction hosted by members of R&B group Damage. Other well known faces in attendance included Richard Blackwood, Sid Owen, Preeya Kalidas and Lucien Laviscount. First and foremost, it is wonderful to see a jewellery brand achieving such success – and being sure to enjoy the journey! Taken as a case study, Tresor Paris perfectly illustrates the power of good marketing. It has created a hype that is rarely seen in the jewellery sector, and which simultaneously demonstrates the increasingly prominent role of jewellery within the wider fashion industry. By harnessing the power of the celebrity, social networking and media campaigns, the brand has elevated its product to near cult status, making it a much sought-after item for trend-savvy consumers. During tough times, advertising and marketing can often be relegated to the back burner, but without them, products remain unpublicised and unheard of. It is a delicate balance of course – budgets are never limitless – but one must always be aware of the need to spread the word, and to take every suitable opportunity of doing so. The internet is a powerful, accessible and often low-cost weapon in the business-owner’s arsenal when it comes to raising brand or company profile – one that is much preached about but still not fully utilised. Why not take a look at your marketing strategy today? Is it time for a review…? I hope you enjoy the magazine and the month ahead.

Jewellery FOCUS

Editor Louise Hoffman louise@jewelleryfocus.co.uk

Editorial Assistants Naida Ally naida@jewelleryfocus.co.uk

Callum Gildart callum@jewelleryfocus.co.uk

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

Deputy Production Editor Lewis Bowes copy@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 Executive 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, Janet Fitch, Michael Hoare, Rebecca Share, Scott Storey, Syreeta Tranfield

In support of:

This month’s cover features TRESOR PARIS

The Hasbani Group – located in Greville Street in the heart of Hatton Garden, and already well known in the diamond trade – launched Tresor Paris early in 2011. The range quickly built up a reputation for quality, glamour and sophistication, and the jewellery is worn worldwide by a multitude of celebrities. Boasting hand-finished, sparkling spheres, made with a variety of precious and semiprecious materials, combined with fine crystals, the collection consists of bracelets, earrings, necklaces and rings and is being expanded regularly, “enabling Tresor Paris to continue to be the leader in this field.” The brand’s eagerly anticipated catalogue is also released this month. Information: www.tresorparis.com

June 2012

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.

Jewellery FOCUS

ROUNDUP

And briefly Tatty Devine settles with Claire’s Accessories

Jewellery brand Tatty Devine has reached an agreement with high street retailer Claire’s Accessories over ‘copycat’ designs, following an official statement released on the BBC One programme Watchdog on 19 April 2012: “Tatty Devine Limited and Claire’s Accessories UK Limited confirm that a mutually acceptable resolution to their recent dispute has been reached. Although the terms of the agreement are confidential, it can be confirmed that the banana, dinosaur and fishbone necklaces have been removed from sale in all Claire’s Accessories stores worldwide, but the moustache, large glasses and musical notes necklaces remain available for purchase.”

Sales training now available online

Brad Huisken of IAS Training, a frequent speaker at retail events around the world, announced this week that his Salesmanship Training and his Sales Management Training courses are now available as online courses. The courses are complete with video instruction, quizzes along the way, a final exam and a certificate of completion. For more information or to choose a course, visit www.iastraining.com, or email info@iastraining.com. The Jewellery Focus columnist said: “These courses will allow retail salespeople, retail store owners, managers and sales trainers to give their staff the help they need in order to maximise their productivity, along with maximising the sales and the profits of the store.”

Small decline in retail sales for April

High street sales were slightly down in the year to April, but were in line with expectations for the time of year, the CBI reported. The CBI’s monthly Distributive Trades Survey, covering the first two weeks in April, showed that 33 per cent of retailers saw an increase in sales volumes on a year ago, while 39 per cent reported a fall. The resulting balance of -6 per cent marked a slight fall in sales, following little change in the previous two months. Judith McKenna, chair of the CBI Distributive Trades Panel and Asda chief operating officer, said: “The situation on our high streets remains fragile. Consumers are still holding off from buying bigger ticket items, and opting to spend on smaller ‘treat’ purchases that give them a lift without breaking the budget.”

Two jewellers make Sunday Times Rich List top 20

The release of The Sunday Times’ Rich List 2012 has revealed two top-20 entries from the jewellery industry. Nicky Oppenheimer of the De Beers Diamond Group, and Francois and Laurence Graff of Graff diamonds came 14th and 17th respectively. Nicky Oppenheimer, whose net worth was reported at £4 billion from the mining and diamond industries, was estimated to have earned £1.4 billion in 2010. In the last year, his fortune grew by around £1.2 million. Laurence and Francois Graff were reported to be worth £3.3 billion, with their company, Graff Diamonds, retailing “some of the world’s most expensive jewellery.” They were one of the highest gainers on this year’s list, seeing their wealth increase by £1.3 billion in the past year.

June 2012

Royal opening for new Goldsmiths’ Centre

The new Goldsmiths’ Centre, a purpose-built development created by the Goldsmiths’ Company, was officially opened on Wednesday 25 April by Her Royal Highness Princess Alexandra. The centre will serve as a hub for members of the jewellery, silversmithing and allied trades, as well as for the general public. It represents the largest ever single investment (circa £17.5 million) by the Goldsmiths’ Company in support of its craft and industry, and has been set up as a charitable enterprise with the aim of helping young people to enter skilled employment through vocational training, as well as “nurturing an enduring community of like-minded individuals and businesses from the industry and associated trades.” Situated in London’s Clerkenwell, an area traditionally associated with the watchmaking and silversmithing trades, the new facility incorporates an existing Victorian grade II listed structure – one of the first London Board Schools built in 1872 – combined with an exciting new build element. A major element of the centre is the workshops and starter studios, which are housed in the new build element of the building – a total of 19 workshops and 13 starter studios, providing workspace for up to 100 trade and young craftspeople at the outset of their career. The chairman of the board of trustees Mr Martin Drury said: “Our intention is that the centre will be a place of excellence; a place of learning and study where skills are passed on and where beautiful things are made and sent out into the world to be treasured. It is hoped that in time, the Goldsmiths’ Centre will take its place among the great institutions of London.” At the end of the Royal visit, Peter Taylor, director of the Goldsmiths’ Centre, said: “The official opening of the centre represents the culmination of seven years of hard work put in by the project team, the Trustees and all the others who have contributed to this major initiative. We are delighted that HRH Princess Alexandra honoured us with her presence and made this an extra special day for all concerned by formally opening the Goldsmiths’ Centre.”

Beaverbrooks tops best workplace list in Scottish business awards Scottish branches of the jeweller Beaverbrooks have been named the Best Medium/Large Workplace in Scotland at the Scotland’s Best Workplaces awards. The awards were held at the Radisson Blu in Glasgow, where winning companies were announced in the categories of ‘10 Best Small Workplaces in Scotland’ and ‘10 Best Medium/ Large Workplaces in Scotland’. Run by the Great Place to Work Institute, the awards recognise outstanding workplaces where staff give their personal best and work together as a team in an environment of trust. Beaverbrooks was recognised for its charity work, cultivating a management pool by regularly promoting staff from within and awarding customer-facing staff with monthly, quarterly and annual bonuses. Daniel Brown, CEO of Beaverbrooks, said: “We are so pleased and proud to be recognised as the best workplace in Scotland. “Being a good employer is very important to us – we really believe it’s right to treat people right.” The award follows on from being recognised by the Financial Times as the best workplace in the UK in 2008, and being ranked as the best company to work for by The Sunday Times in 2009.

Jewellery FOCUS

ROUNDUP

Stand-alone gold marks banned on bonded gold

The British Hallmarking Council (BHC) has recently announced a ban on stand-alone gold fineness marks on bonded gold articles, because they are “potentially confusing and misleading to UK consumers.” “Ever increasing gold prices are driving significant changes in the UK fine jewellery trade, one such trend being the introduction of bonded gold, and an increase in gold-plated and rolled gold products coming into the market. Bonded gold items are produced with a thick layer of gold alloy bonded onto a base metal or sterling silver core. The resulting article is only about 10 per cent gold alloy by weight on average, but could be easily mistaken as an all-gold item by the consumer or the retailer,” explained the BHC. The bonded gold products have been introduced from the United States where there are clear regulations for marking and describing them. However, the descriptor ‘bonded gold’ is not specifically permitted by the 1973 Hallmarking Act, which did not envisage the development of the process at the time it was drafted. Trading Standards authorities have sought advice from the BHC regarding the use of the term and the correct way to mark such items. Official guidance has now been issued, based on the existing provisions covering rolled gold and plated gold in the 1973 Hallmarking Act. The BHC’s view is that no enforcement action should be taken in respect of the use of the term ‘bonded gold’. The organisation further stipulates that, assuming the core is 925, for example sterling silver, the article should carry a full silver hallmark, or a 925 stamp if it is under the hallmarking exemption weight for silver of 7.78 grams. Bonded gold on a base metal core cannot be hallmarked. It is not permitted additionally to mark the article 9k, 10k, 14k or 18k, as is common practice in the United States. The only circumstance in which this is allowed is if the gold fineness is immediately preceded or followed by the words ‘bonded gold’, ‘rolled gold’ or ‘gold plated’. For example, an article with a silver hallmark (or 925 stamp on underweight articles) can be marked as follows – ‘925 & 18ct bonded gold/rolled gold/gold plated’. It is also emphasised that the bonded gold layer must be of a fineness of at least 375 parts per thousand and of a recognised UK standard. So, for example, bonded gold of apparently 10K can only be described as nine carat. This follows the practice for gold-plated and rolled gold articles in the UK. The guidance applies to all bonded gold, rolled gold and gold-plated silver articles below the 7.78 gram exemption weight for hallmarking, as well as for those requiring hallmarking. The exemption is an exemption from hallmarking itself, not from the requirements of every other part of the Hallmarking Act 1973. Mr Christopher Jewitt, newly appointed chairman of the BHC, said: “Some of the bonded gold items we have seen had very confusing markings and the consumer could easily have believed them to be nine carat gold throughout. The British Hallmarking Council supports Trading Standards and the assay offices in implementing and enforcing this important guidance to ensure that UK jewellers and consumers are protected from being misled.” The full guidance from the British Hallmarking Council can be found at www.bis.gov.uk/britishhallmarkingcouncil or on the Birmingham Assay office website at www.theassayoffice.co.uk/bonded_gold.html

Celebrity endorsement

Kate Hudson wears Annoushka Kate Hudson was recently spotted wearing special edition Annoushka earrings at the White House Correspondents’ Association Dinner. The event was arranged to bring famous faces from Hollywood together with journalists and political figures for a glamorous evening, and the earrings that Kate chose were the 18 carat gold, diamond and onyx Love Knot design. She was also spotted wearing the earrings at a later date, during the Bloomberg & Vanity Fair cocktail reception on the 28 April. The special edition earrings are based on the Annoushka Jasper earrings (pictured).

VanLeles Diamonds opens in Belgravia Bespoke diamond jewellery brand VanLeles Diamonds announced the opening of its new Belgravia office on 1 May. Founded by jewellery expert and former fashion model Vania Leles (pictured), VanLeles Diamonds ethically sources the diamonds to create unique bespoke jewellery for special occasions. “At VanLeles Diamonds we take the time to understand what each client is looking for and turn their ideas into detailed designs and, more importantly, the design into an elegant and timeless piece of jewellery. In our Belgravia office, we can now offer our clients an even more personalised service,” said VanLeles Diamonds’ founder Vania Leles.

Jewellery FOCUS

Vania Leles

June 2012

ROUNDUP

Diamond market

The beginning of April saw the Indian domestic jewellery market in upheaval as its proposed government taxes sparked protests. The RapNet Diamond Index (RAPI) for one carat was reportedly stable in March, down 2.7 per cent to 94.36 in the first quarter, whilst the Rapaport Melee Index (RMI) was up 14 per cent to 140.72 in the first quarter. Harry Winston announced its fourth quarter sales of $216 million (£133 million), with a net profit of 21 per cent at $17 million (£10.4 million). In the second week of April diamond trading was quiet. ALROSA FY sales were up 28 per cent to $4.5 billion (£2.77 billion), and net profit more than doubled to $1 billion (£0.62 billion); first quarter sales were up five per cent to $1 billion (£0.62 billion), and net profit was up 23 per cent to $282 million (£173.7 million). Rio Tinto was up 41 per cent to 3.5 million carats, and BHP Billiton was down 21 per cent to 433,000 carats. Gem Diamonds’ first quarter prices were up seven per cent, whereas Letseng sales were down 38 per cent to $59 million (£36.37 million). Kristall 2011 revenue was up 28 per cent to $567 million (£349.5 million). India’s March polished exports were down 47 per cent to $2.1 billion (£1.29 billion). By the end of April, rough prices appeared unsustainable, as polished prices didn’t keep up with rough price increases. Polished trading remained stable. Meanwhile the UN extended the rough diamond ban on the Ivory Coast for a year. Source: Rapaport TradeWire

BJA awards sponsor announced Presman Mastermelts, the trade only scrap counter and international recycler of precious metals, has confirmed that it will sponsor a category at the BJA’s 2012 awards, which form an integral part of the Association’s 125th anniversary celebrations. The BJA awards programme was launched a few weeks ago and BJA members have been invited to submit their nominations through the website www.bja.org.uk The deadline for entries is 7 September, and voting will then take place up to 26 November, with the awards ceremony taking place in Birmingham on 6 December at the Jewellery and Giftware Ball. “We are delighted to support the BJA awards programme this year,” said Gary Williams, head of the jewellery division at Presman Mastermelts. “As a long standing member of the BJA, we are fully behind the Association’s desire to recognise and reward the excellent achievements of its members.”

Platinum jewellery demand rises Gross platinum jewellery demand rose by two per cent in 2011 to 2.48 million ounces, according to Johnson Matthey’s Platinum 2012 report. Growth came mainly from the jewellery trade in China, where demand reached 1.68 million ounces, and also in India, where platinum jewellery demand increased rapidly from a low base. Supported by the bridal sector, platinum purchasing by the trade in Europe remained solid at 175,000 ounces. Consumer confidence remained low in many parts of Europe and spending on jewellery items generally decreased. However, purchases of platinum in the bridal sector were resilient and lower prices in the fourth quarter encouraged some consumers to ‘trade up’ from white gold to platinum for wedding and engagement rings. European luxury brands continued to do very well in the high end of the market, boosting demand for platinum used in the manufacture of jewellery and watches. Meanwhile demand for platinum in the Japanese jewellery sector softened slightly, with gross demand declining by three per cent to 315,000 ounces; and demand in North America increased by six per cent to 185,000 ounces. Purchasing of palladium by the global jewellery industry, on the other hand, declined by 15 per cent to 505,000 ounces. The metal is reported to have continued to suffer from a lack of positioning in the key Chinese market, and in Europe and North America the price elasticity of demand was demonstrated – palladium traded on average 39 per cent higher than in 2010, leading manufacturers to offer lower weight and lower fineness palladium alloys to meet retail price points. Gross demand for palladium in the Chinese jewellery sector fell by 55,000 ounces to 305,000 ounces last year, whilst demand weakened by eight per cent to 60,000 ounces in Europe; by seven per cent to 70,000 ounces in Japan; and by 31 per cent to 45,000 ounces in North America.

Dates for your diary... 119– 17 June10

London Jewellery Week Events London-wide

– 3013 June 12 27 14 New Designers 2012: Part 1

Business Design Centre, Islington

19 www.newdesigners.com 20

Fair International 26 Autumn 27 28 NEC, Birmingham

www.jewelleryweek.com

12 – 13 June

The Jewellery Show Somerset House, London

www.thejewelleryshowlondon.com

2 – 5 September

30June 26

National Association of Goldsmiths (NAG) AGM Lord’s Cricket Ground, London www.jewellers-online.org

www.autumnfair.com

3 2 – 5 September

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

Images: Monnickendam Diamonds

June 2012

Jewellery FOCUS

June 2012

ROUNDUP

And briefly Sales exec to go sky high

Michael Heywood, a sales executive for the International Jewellery London (IJL) event, has announced he’ll be doing a charity sky dive. On 25 August Michael will take to the skies to raise money for Retail Trust and children’s charity Together for Short Lives. Retail Trust is the only charity that looks after the needs of all three million people working in retail. Speaking about the sky dive and his chosen charities, Michael said: “I thought this would be the ideal way to celebrate the start of the event and to raise money for two great charities. Retail Trust gives extra support to people working in retail sectors who need it, and sponsorship money will also go to a children’s charity which I support personally – Together for Short Lives.” To sponsor Michael, visit: uk.virginmoneygiving.com/michaelheywood

Joshua James Jewellery reports website success

Joshua James Jewellery’s new website has rounded off a “game-changing year for an up-and-coming national player,” according to company MD, Shaun Bell. The new jewellery site is one of a network of sites – joshuajamesjewellery.co.uk, jjweddingrings.co.uk, and watchdepot.co.uk – which were launched by the company to expand into specific niches. “All three websites sell a vast and ever increasing range of mid-range fashion brands, with the emphasis upon remaining ahead of current trends and spotting what people are (or should be) wearing,” said Shaun. “From our inception, we have sought to position ourselves at the forefront of the digital revolution. We are constantly innovating to keep the market moving forward. In doing so, we believe we have found a unique model for success.”

NAG announces venue for AGM

The National Association of Goldsmiths (NAG) has announced its Annual General Meeting will take place on the 26 June 2012 at the Lord’s Cricket Ground. The meeting will see NAG members invited to the J P Morgan Media Centre, which overlooks the green of the cricket ground. The AGM will commence at 10am and continue throughout the morning, and guests will then be directed to the Thomas Lord Suite for a three course luncheon. For more information, contact Ritu Verma at ritu@jewellers-online.org

New members being sought for the British Hallmarking Council The Secretary of State for Business, Innovation and Skills is seeking to appoint four new members to the British Hallmarking Council (BHC) to contribute to its role in regulating the UK jewellery industry. Applications are open to anyone who feels they have the relevant skills and experience to assist the BHC, and they do not have to come from the jewellery industry. The BHC was established to protect consumer interests in the UK jewellery market by ensuring that there are adequate facilities for hallmarking in the United Kingdom. It is also responsible for advising the Secretary of State for Business, Innovation and Skills on hallmarking matters and hallmarking legislation. The Secretary of State is seeking applications for four members to serve for a term of three years, starting from 1 January 2013. There are two vacancies for members with experience in the precious metal trade or manufacturing, either from the bespoke or mass produced jewellery market or from retailing, and two for persons either with consumer expertise, or independents with relevant experience. Further details and an information pack (including a person specification and how to apply) can be downloaded from the BHC website at www.bis.gov.uk/nmo/regulation/hallmarking or email paul.cole@nmo.gov.uk. Alternatively, telephone 0208 943 7218 (during office hours) before 22 June 2012. Applications should arrive no later than 25 June 2012.

Shopping venues are ‘best place for brands’ The British Council of Shopping Centres (BCSC) and the Institute of Promotional Marketing (IPM) are set to launch a joint industry research paper, which will demonstrate why shopping venues are “the best place for brands to target consumers.” The research paper will highlight how consumers are in the best mind-set while spending time in shopping centres as compared with other venues. Jackie Tracey, commercialisation manager at thecentre:mk and chair of the BCSC Commercialisation Committee, said: “There is no doubt that companies could benefit from investing further in ‘brand experience’ and events within retail environments. In order to attract further investment, shopping centre owners and brand agencies need to work much closer together. In particular, owners have a responsibility to ensure agencies know just how well retail destinations perform in getting consumers close to experiencing brands.”

Bonhams to sell $20 million necklace

Auction house Bonhams has put a Mughal ‘Mirror Diamond’ necklace up for private sale at the price of $20 million (£12.3 million). The necklace features a large central stone along with five mirror-cut diamonds ranging from 16 to 28 carats, believed to have been owned by a Mughal emperor, with five emerald drops below. Bonhams says the Mughal Mirror Diamond necklace is an extraordinary example of the colourless, rough diamonds discovered in the ancient Golconda mines that were reserved for royalty in India during the height of the Mughal Empire in the 16th and 17th centuries. At 28 carats, the central stone is the largest known surviving mirror- or table-cut diamond, while the five diamonds are collectively the largest known matching set of table-cut diamonds from the Mughal 17th century. Bonhams’ CEO and international head of jewellery Matthew Girling said: “The presentation of the Mughal Mirror Diamond necklace is causing great excitement in the world of jewellery scholars as well as potential buyers.” Weighing approximately 96 carats in total, the skilfully rendered diamonds were designed to emphasise the beauty of the diamonds without sacrificing their size; something that was of the utmost importance to Mughal emperors and Indian maharajas. Many of India’s royal pieces of jewellery were subjected to the 19th and early 20th century fashion for replacing and recycling old jewels with new, western settings, and though the necklace had Columbian emerald drops added, its old setting remained intact – something Bonhams describes as remarkable.

June 2012

Jewellery FOCUS

face to a name

Three minute

interview

Face to a name

Get acquainted with new and existing industry representatives

New board member at Astley Clarke Gary Williams,

head of the jewellery division at Presman Mastermelts Describe yourself in four words (Still) Enthusiastic but wiser.

When did you join the company and what attracted you to the role? Just over a year ago I was made an offer I couldn’t refuse: to start enjoying the jewellery trade again.

What does your typical day involve? I am currently involved in many and quite diverse business projects, but they are all focused on improving our service to our customers. Part of my day is also taken up with British Jewellers’ Association matters, in my capacity as vice chairman.

Which aspects of your job do you most enjoy and why? The freedom to be creative, supported by a company which promulgates the same ‘personal’ ethos as me.

What can your company do for its customers? Give them more money and faster. Precious metal processing is all about trust and our customers know we will do what we promise: provide a fast, accurate and transparent processing and payment service to help with their cash flow and profitability.

What is your proudest achievement? Building an award-winning, highly respected and extremely profitable, bespoke bridal jewellery manufacturing business, employing over 100 people in the UK.

What is the best advice you’ve been given in life or work? Work: Look after your customers if you want them to look after you. Life: Sometimes you’re the pigeon and sometimes you’re the statue.

June 2012

Online Luxury Jeweller Astley Clarke has appointed luxury fashion entrepreneur Carmen Busquets to its board. The business has recently secured a second round of investment funding from Ms Busquets, taking her total investment to $1.2 million. Carmen, who is also a founding investor and board director of Net-A-Porter.com, commented: “Astley Clarke is one of the pioneers in building a luxury jewellery brand focused on ecommerce, and the first brand to offer a full range of highend, iconic jewellery online, supporting a new generation of luxury consumer who wants the freedom online to choose product that is right for them. I believe that Astley Clarke has the potential to become a global brand online as well as offline, competing in the international retail environment.” The current round of funding is being used to increase brand equity and to look to international markets, and will also be applied to the development of new luxury jewellery collections and interactive technologies that aim to engage the luxury consumer online.

Laings of Glasgow appoints online manager to increase web presence Scottish jewellery store Laings of Glasgow has appointed Lauren Anderson to the newly created role of online manager. Laings, which was founded in 1840 and operates three stores in the city’s Argyll Arcade, has expanded over the past year and is looking to increase its online presence and use of social media platforms. After graduating from Glasgow School of Art with a degree in Jewellery Design, Lauren began her career as a jewellery buyer for designer retailer Cruise. She has since held positions with Carrick Jewellery Ltd as its head of design and PKennedy (also known as Truth Charms) as a marketing and product development manager. Wendy Laing, director at Laings of Glasgow, commented: “Lauren has a wealth of experience on both the retail and wholesale sides of the jewellery industry, so we are delighted to have attracted and secured someone of her calibre and experience.” Lauren added: “As Laings’ online manager I will be undertaking the task of improving and building on Laings’ online presence as a reputable jeweller, not just in Scotland but internationally. I have high hopes for where we can take the business online and I am excited about realising the untapped potential of the brand.” To read more, turn to the Voice on the Highstreet interview on page 66.

Jewellery FOCUS

face to a name

Platinum Guild International expands its team in the United Kingdom Demonstrating a commitment to supporting the platinum jewellery industry, Platinum Guild International (PGI) has made two new appointments to its UK team. The organisation says that both of the newly created roles add depth and breadth to the skillset of the marketing team and demonstrate a commitment to providing support to the trade. Laura Hurst, who joins from the Royal Mint, has been appointed as UK marketing and communications manager. She brings with her a wealth of marketing experience, with her most recent success being the delivery of the London 2012 commemorative coin programme. She will work with key strategic partners to focus on delivering communications strategies and plans which reinforce the positive message to the consumer about platinumâ&#x20AC;&#x2122;s unique qualities, to encourage Laura Hurst bridal jewellery sales. Also new to the team is Sarah Poots who has been appointed as marketing assistant. With a background in fine arts, Sarah brings invaluable support to the trade marketing team at PGI. She provides a contact point for PGI Recommended Platinum Retailers and will support the development and delivery of new marketing materials to ensure trade needs will be met more efficiently. â&#x20AC;&#x153;UK consumers have long had platinum at the top of their bridal wish list, and the price differential with gold, paired with the relative stability of the bridal market, continues to create opportunity for the industry. The addition of Laura and Sarah enables our UK team to provide more strategic support to the UK industry, and drive our programmes further to result in increased platinum sales for them,â&#x20AC;? said UK Sarah Poots manager Ruth Donaldson.

Jewellery FOCUS

June 2012

Gemstone special



The Coral Atoll ring by Ornella Iannuzzi is made with an Australian black crystal opal cabochon (8.4 carats) set in 18 carat gold. This ring was inspired by the coral formations that grow on the edge of a sunken volcano in the Atlantic, called Atoll. “I have created this design for the Abyss collection, which is entirely dedicated to the sea environment. Most of the designs for this collection are inspired by corals or deep landscapes shaped through underwater volcanic eruption,” says Ornella. Image courtesy of the Goldsmiths’ Company. Information: 07722 332 654 or info@ornella-iannuzzi.com

Treasured gems A varied selection of new gemstone jewellery designs to captivate your customers

� Taking her inspiration

from Greek mythology, Leyla Abdollahi’s latest addition to the Okeanides collection is ‘Kallirhoe’, meaning ‘beautifullyflowing’, the water and river Goddess of Erytheia, a mythical island in the western ocean. The pink cushion-cut morganite centre-stone is set in 18 carat rose gold surrounded by white and brown diamonds with baguettecut rubies adorning the setting. The inner side of the ring’s band has been designed as carefully as the outside. Information: www.leyla-abdollahi.com

� Muru’s Monaco collection features semi-precious

stones with checkerboard cuts. Gemstones include blue jade, amazonite, rose quartz and purple jade, and the designs are available in sterling silver or gold vermeil. Muru director Phil Barnes says: “Some stones are becoming very seasonal as consumers match their jewellery to their wardrobes. Our latest range includes a variety of ice-cream coloured stones that complement the trend towards muted pastel tones this season.” Information: 0208 245 1920 or www.murujewellery.com

 Missoma’s new Maiya

range is an organic shaped collection based around a leopard print pattern. Available in three cool, contemporary colourways, choose from aqua chalcedony (perfect for this summer’s pastel look), labradorite or rainbow moonstone, all in 18 carat gold vermeil. The range includes leopard print pendant necklaces, cocktail rings and triple drop earrings. Information: www.missoma.com

June 2012

Jewellery FOCUS

Gemstone special

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The Alfred Terry Jubilee Collection is based around four themes – Couture, Pearls, Storyteller diamonds and Celebrate. The 200-piece collection features an entirely new selection of rings, neckwear and earrings, featuring diamonds of HSI quality, and includes both classic styles and contemporary pieces. “The Alfred Terry Jubilee Collection allows the wearer to select a piece that is personal to them, while feeling part of the collective celebration of this momentous year,” says Alfred Terry’s Nick Kasler. Information: 0208 446 9020

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Luxury jeweller Sophie Harley has launched a new collection named after and inspired by her ancestor Lady Brilliana Harley. A celebrated letter writer, Lady Harley became an unlikely heroine of the English Civil War in the mid 1600s when she loyally defended Wigmore Castle and the other Harley family home at Brampton Bryan, during a seven week siege by Royalist troops under Charles I. The Brilliana Collection captures the fashion of the era where ladies adorned themselves with large, bold and dramatic gemstones in vivid colours to show their wealth. The necklaces feature heart-shaped stones of citrine, topaz and amethyst, set in 18 carat gold and sprinkled with coloured diamonds. Meanwhile, statement rings show the pastel colours of the season. Images by Jo de Banzie. Information: www.sophieharley.com

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Launched in April, Annoushka’s Love Diamonds Dragonfly pendants are delicate and timeless pieces that are designed to be worn every day, layered with other necklaces and pendants from the Annoushka collections. “Created in 18 carat yellow gold with diamonds, or white gold with rubies and sapphires (pictured), the dragonfly pendants are crafted with the utmost attention to detail,” says the company. Information: www.annoushka-jewellery.com

 The new Personalisation collection by

Chrysalis features sterling silver beaded chains in lengths ranging from 16 to 36 inches, combined with semi-precious gemstones such as faceted prehnite, soft delicate shades of aquamarine and uniquely shaped turquoise gem drops with serene blue hues and extracts of invigorating green. These can be mixed with precious emeralds, rubies and sapphires, and teamed with silver and vermeil bezel set pendants to create beautiful designs. Each interchangeable piece that the wearer creates will be a completely individual piece of jewellery. Information: 01823 698 898 or info@chrysalischarms.com

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Gemstone special

 Mara Hotung Jewels is inspired by

the sea and marine life, as seen in the crushed and dyed shell bead necklace set (pictured). The clasp set with a rose quartz cabochon and accented with pink sapphires reflects the watery feel of the oceans. Colour is also a recurrent theme in the designs. Vibrant blues and greens of Australian opals are juxtaposed against the yellow sapphires in the earrings pictured.

Information: www.marahotungjewels.com

� To reflect current trends, Norwich-based Nova Silver has created a new range called

Bemine Pure. Its modest silver settings showcase the natural beauty of stones such as moonstone and amethyst. “We love working with semi-precious stones, and we are able to adapt our designs using the information from our retail and wholesale teams, making more of what sells well and improving current ranges,” says wholesale assistant Lauren Baxter. The company has also introduced three new designs for its very popular one-off stones (pictured), with more on the way! Information: 01603 305 799 or www.novasilver.co.uk

 Mishca Jewels will be launching

another striking collection of sterling silver and gold vermeil gemstone jewellery for autumn/winter 2012, which will be showcased at the International Jewellery London show in September. The brand’s newest collection will include unique designs featuring topaz and citrine pendants, chokers, earrings, rings and bangles. Information: 0207 193 1995, info@mishca.co.uk or www.mishca.co.uk

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Sheldon Bloomfield specialises in coloured stone jewellery and has one of the UK’s most comprehensive selections of sapphire, ruby and emerald jewellery. The range also includes unusual stones such as kunzite, rubellite, imperial topaz, green tourmaline, and a huge semi-precious range of earrings, rings and pendants using such stones as aquamarine, amethyst, blue topaz, citrine, garnet and peridot. Information: 0113 243 0100 or heidi@sheldonbloomfield.co.uk

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Focus on

gemstones

Naida Ally delves into the history and sales potential of gemstones, and hears about the trade offerings of a selection of loose stone suppliers

rtist and photographer Ernst Haas once said: “Colour is joy. One does not think joy, one is carried by it,” and coloured gemstones are no exception, with the joy that they inspire often being passed down from generation to generation. This month, we’re taking a closer look into the world of gemstones, and also exploring the birthstone, which is not only a useful sales angle, but quite historically interesting too! As Russell Shor, the Gemological Institute of America’s (GIA) senior industry analyst explains, “coloured gems allow retail jewellers the opportunity to offer a range of pieces that tie into today’s colourful fashions for clientele who want to accessorise their wardrobes. Because of the wide variety of gemstones, retailers can offer something new that will appeal to both the browsing shopper and the dedicated jewellery buyer.” With over 40 popular gemstone varieties, not including the many rare collector gems, Russell advises: “Know your clientele. If you serve an area that attracts younger buyers, read their magazines to see what they are buying and which colours are popular. The same goes for those serving an older and perhaps more affluent clientele.” He also recommends: “Know your gemstones. The more knowledge you

Jewellery FOCUS

Official British birthstone list, NAG: 1937 January Garnet February Amethyst March Aquamarine/Bloodstone April Diamond/Rock Crystal May Emerald/Chrysoprase June Pearl/Moonstone July Ruby/Carnelian August Peridot/Sardonyx September Sapphire/Lapis Lazuli October Opal November Topaz/Citrine December Tanzanite/Turquoise

can share, the more interested your customers will become. And you will earn their trust – and repeat business.” With that in mind, a useful element of gemstone knowledge is the birthstone, for which the first written records are thought to have come from the book of Exodus in the Old Testament of the Bible. It is agreed by many historians and scholars that the initial use of gemstones for their ‘powers’ probably relates to the Breast Plate of Aaron – a ceremonial, religious garment set with 12 gemstones that represented the 12 tribes of Israel and also corresponded with the 12 months of the year. Some scholars also believe them to have depicted the 12 signs of the zodiac. In recent times, gemstone artefacts dating from prehistoric times have been recovered by archaeologists. These have originated from as far back as the Incas and Montezumas, while Egyptian pharaohs were known to use them as talismans, believing that gemstones were capable of affecting character, health and fortunes. Despite these discoveries, it is widely accepted that wearing birthstones actually became popular in Poland in the 15th and 16th centuries. As

ancient people did not always classify gemstones by mineral species, there has been debate about which gemstones were set into the aforementioned breast plate and why, which led different cultures around the world to develop different birthstone lists. These differences still exist between countries and cultures; however the National Association of Goldsmiths (NAG) released an officially defined list for the United Kingdom in 1937, which still stands today. Family-owned, Hatton-Gardenbased R M Shah has a history in the gemstone trade spanning three generations, and has been serving its customers for more than 50 years. R M Shah exports to countries worldwide, as well as supplying locally to dealers, jewellery manufacturers and jewellers throughout the UK. For the first time this year, it will be exhibiting at both the Jewellery Show London at Somerset House (stand WS26), and at the IJL show in Earls Court (stand J101). The company sources its gemstones and diamonds from legitimate sources from around the world and is a member of the British Jewellers’ Association (BJA) and the International Colored Gemstone Association. “Our knowledge and reputation allow us to bring our customers the very best gemstones at the most competitive prices, and our rich heritage and wealth of experience have made us one of the UK’s largest and most respected gemstone merchants,” the company explains. As well as the big three – emeralds, rubies and sapphires – R M Shah holds a selection of quality aquamarines as well as peridots and tourmaline fancy shapes. It also supplies customers with old cut, rose cut, briolette and black diamonds from its extensive range. With over 20 years’ experience working within the gemstone trade,

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Focus on

Steven May (formerly manager at Capital Gems) has ventured out on his own with his newly formed diamond and gemstone wholesale and jewellery repair business – Maygems. Operating out of a custom fitted Hatton Garden office, Maygems is “one of the UK’s newest and fastest growing gemstone suppliers”. Providing a wide selection of precious, semi-precious and synthetic gems in a large range of grades, cuts, shapes and qualities, Maygems has no minimum order or amounts, “helping make this rapidly growing stock become one of the mustgo-to places for jobbing gemstones in Hatton Garden”. Maygems also offers a comprehensive diamond stock including eight cuts, old cuts, rose cuts and brilliant cuts in a full range of shapes and sizes, as well as a complete jewellery repair service. A full lapidary service for cutting and polishing all types of gemstones and diamonds is available, “with all work guaranteed and undertaken by experienced craftsmen,” says Maygems. Having noticed candy colours and florals dominating the high street, Marcia Lanyon Ltd’s buyers have responded by stocking an entire rainbow of stones at the company’s London showroom. A bountiful display of beads, stones and pearls are on offer, ready to be made into the chunky necklaces and dazzling earrings that have been seen on the catwalks recently in a cocktail of vibrant colours such as

June 2012

bright red coral, golden yellow citrine and striking turquoise. “Luxurious textures and materials are crucial to current trends,” says the company, “and jewels are encrusting everything from bags and clothing to shoes, as well as adorning the necks and fingers of models at fashion week. Chanel even accessorised the models at its autumn/winter collection with bejewelled eyebrows.” Keeping up to date with current trends, Marcia Lanyon’s recent buying trips have brought in the spectacular carved stone flowers that have brightened up more than one fashion show, along with briolettes and drops for the big earrings in line with summer fashions. Fancy cut and calibrated stones for setting and unique pastel coloured drusy pieces are ideal for pendants and chunky rings alike, while bright little precious and semiprecious beads are available in a palette of colours. Jason Williams of G F Williams, the gemstone specialist, points out that “market changes have opened many new opportunities. Recent changes include strong demand in the market for all fine materials, in particular top quality aquamarine and rubellite, which are both particularly sought-after in China. Sapphire, ruby and emerald are commanding high prices – fine stones are hard to locate and pricing is firm, particularly in sapphire. “Jewellery Focus readers need

to be aware that there has been significant movement in sapphire prices. You should be aware of this rapid change caused in part by the Thai Kanchanaburi mines approaching extinction; some types of sapphire have doubled in price in the last two years. If you are holding sapphire in stock, we strongly recommend re-pricing your stock. Please call for further detail or if you need guidance on this,” Jason adds. The second generation, HattonGarden-based loose gemstone trading company is always looking for new supplies of fine gemstones for its international client base. “Our continuing investment in our extensive range of fine stock, along with the systems to support our clients’ requirements, has allowed us to remain at the forefront of the gem industry.” Established in 1970, R M Weare & Company Ltd has grown to become a prominent supplier of high quality diamonds, precious and semi-precious stones in Britain. The company prides itself on being a ‘one stop shop’ for the full A to Z of stones used commercially

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5 4

in the repair and manufacture of jewellery. It provides a same day turnaround on phone orders and for working jewellers sending jewellery for stone replacement or matching. The staff members pride themselves on a “can do” approach to enquiries, and always endeavour to track down anything unusual or difficult to find. “Attention to customer service has firmly established our business as a trusted and respected gemstone supplier to the UK jewellery trade,” they add. Stock includes diamonds in all common shapes and certificated stones, as well as old cuts, eight cuts, rose cuts and fancy colours at competitive prices. A gem testing, valuation and cutting service is also available. Staff members include qualified gemmologists; Antwerp trained and registered

diamond graders; bench trained jewellers; a qualified valuer; and a graduate geologist. Specialising in orders for diamond cuts in very small sizes and a wide range of colours, as well as supporting its customers with a comprehensive stock of rubies and sapphires, International Gemstones Ltd also offers business support for people in the jewellery trade. “Our customers like our array of heated and unheated stones,” says the company. “You might

also like to call us for matched pairs, and natural fancy coloured diamonds, especially melee in brown, pink, yellow and black diamond.” Much of its stock is available to view online at www.thegembank.com 1) RM Shah: 0207 405 2162 2) Maygems: 0203 538 6305 3) Marcia Lanyon: 0207 602 2446 4) G F Williams: 0207 405 5477 5) R M Weare: 01904 693 933 6) International Gemstones Ltd: 0207 242 3748

Jewellery FOCUS

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Industry

In the know Syreeta Tranfield, event director for IJL, considers the importance of good background knowledge when buying loose gemstones

hen it comes to gemstones, it is essential that buyers are in possession of the full facts in respect of the product they are buying. For example, some treatments affect the use, wear and appearance of a stone and buyers should be made aware of treatments. Where possible, information should also be provided on the provenance of the stone.

Gem education

Jack Ogden, chief executive of Gem-A (pictured), really knows his gemstones. Gem-A is the world’s longest established provider of gem education, with its roots stretching back to 1908. We spoke about assurance for retailers...

What are the best ways for retailers to ensure there are good quality gemstones in the jewellery they stock?

Gem-A’s educational role was prompted by the synthetic gems that were beginning to appear just over a century ago. Customer confidence needed to be retained in the face of this ‘threat’ and this meant a knowledgeable trade. Today, the challenges facing jewellers are far more complex. Synthetic gems of many types abound, as well as a vast range of treatments. It is an age-old debate as to how much gem knowledge the public should reasonably expect from a high street jeweller. Experience has shown that simply relying on one’s supplier can be a risky strategy, and certainly a retailer or pawnbroker buying gem-set jewellery over the counter or doing valuations needs gemmological training and ongoing access to what is happening in the gem world. It is true that in an increasing number of cases a definitive opinion on a gem can only be given by a laboratory, but gemmological experience and awareness is necessary to know when warning bells should sound.

Which gemstones are currently popular with retailers and consumers in the UK market? Are there any trends that you can identify?

A generation ago you wouldn’t find much in the way of coloured gems on the average high street other than emerald, ruby and sapphire. These days things

June 2012

have changed dramatically, and jewellers from designer boutiques to luxury brands offer a far more exciting and aspirational range – and at all price points.

Presumably the more retailers are educated on gemstones and what to look for the better? What is available in terms of training and education for the retailer?

There is a range of gem training opportunities available in the UK, from day courses to Gem-A’s full Gemmology Diploma course. Much depends on where you are located, but one option is Gem-A’s Gemmology Foundation course – a course that is available as an evening course in London but which can be largely completed online with a unique blend of conventional and web-based learning. This Foundation Course is also recommended by the NAG for its members. There are other options out there of course, including short courses by Holts in Hatton Garden and courses by the Gemological Institute of America (GIA).

Why do you think jewellery networking events and trade shows are important for the jewellery industry? And what is the focus for Gem-A at such events?

Being able to sell coloured gems knowledgeably is essential, and this means keeping up to date. Attending trade shows and seminars is crucial. Even if you don’t buy at a trade show you have to see what is out there and what options you have to do more business, in terms of materials, designs and people. Networking – talking to others in the trade – is also a great way to be aware of the whole range of issues that affect our industry.

“In an increasing number of cases a definitive opinion on a gem can only be given by a laboratory, but gemmological experience and awareness is necessary to know when warning bells should sound”

Jewellery FOCUS

Industry

“It is important to understand the colour, clarity, cut and carat of the gemstone being purchased ”

Gemstone jewellery designer

How are you reassured about the quality of the gemstones you use?

It is important to understand the colour, clarity, cut and carat of the gemstone being purchased. The top three questions I would ask are:

Designer Hinna Azeem of H.AZEEM uses interesting gemstones in her work (pictured), such as her best selling smoky quartz ring, so I spoke to her about the design aspect of gemstone jewellery to find out more about current trends.

- What is the colour range of the gem? This will determine its quality.

Which gemstones are currently on trend?

- Has the gemstone been treated or enhanced? To understand the degree to which the colour has changed.

2012 will offer lots of intense colours, including bright blues (from topaz to turquoise), beautiful reds (from rubies to garnet) and deep greens (from emeralds to diopside). Earthy tribal gems are also in fashion, particularly beautiful quartz, agate and citrine stones. Gemstone jewellery is becoming increasingly popular, especially in the UK.

- How is the gemstone graded against a clarity scale? Checking for inclusions or external blemishes.

More knowledge about gemstones can only be a good thing, and it’s only right that suppliers should be upfront about their loose gemstones when supplying to the trade.

For more information about International Jewellery London, please visit

Jewellery FOCUS

June 2012

DESIGNER

June 2012

Jewellery FOCUS

DESIGNER

Centre stage Inspired by one of Shakespeare’s finest and best known works, Bobby White’s latest collection tells a story of passion, romance and unshakeable love. Louise Hoffman finds out more about the designs, and the journey that has led Bobby to create them

“ When you have the collection all laid out you can see which part of the story each piece comes from”

Jewellery FOCUS

t was back in the autumn of 2009 that I first met Bobby White; the resulting interview appearing in the December issue of Jewellery Focus. Over two years and several industry accolades later, his Bobby White London brand is making new waves in the sector – especially following the February launch of his Romeo and Juliet inspired collection, Star Cross’d Lovers – therefore I felt it was time for another tête-à-tête. Meeting with Bobby and his business partner George Neal in Hatton Garden, I began by asking about the new Star Cross’d Lovers range. They tell me that having first decided to make a collection based around a story, Bobby soon identified Romeo and Juliet as a perfect theme. “It’s the best love story in the world!” he enthuses. “I watched the film and read the play, and started developing the ideas from there, picking out which parts we could use from the story. We made sure we added our own twist though – I mean, you can go through and do it quite easily if you want to opt for the clichés, but we wanted to go for something different. Some pieces are more obvious than others; the quill is perhaps the most obvious part…” The collection is organised into five sub-sections, or ‘acts’ (in homage to the original Shakespearean play), and each act in the lookbook features a light-hearted poem, all of which were written specially for the project. The aforementioned quill forms the basis of Act 4 – the Messenger collection – which recalls the letter sent to Romeo by Friar Laurence. This act is preceded by ‘Fate’ (the moment that Romeo and Juliet first meet); ‘Call Her Mine’ (their secret wedding); and Secret Night (their first night together). It is then followed by Act 5 – True Love – which is inspired by the poison vial and the subsequent demise of the tragic lovers. “When you have the collection all laid out you can see which part of the story each piece comes from,” Bobby explains. As an ‘encore’, Bobby has also designed the Star Cross’d Wishes ring for the range, which you may have seen in the news pages of the March issue of Jewellery Focus. It has been produced specifically to benefit Make-A-Wish UK – a charity which grants wishes to children and young people in the UK who have been diagnosed with life threatening conditions. In fact, it was at the charity’s Valentine’s Ball that the Star Cross’d Lovers collection was launched. “We just want to get as many people buying it as we can, because the PR for us is

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more than just PR – it’s actually changing people’s lives,” says Bobby. Indeed, Bobby and George and the rest of the team are determined to use their work to help others as much as possible – not only in terms of charitable donations, but also in providing a platform for those just starting out on their career paths. “For the new range, we picked a graduate from the London College of Fashion, and for our photo shoot we wanted her to dress the female model,” Bobby explains. “It’s about helping someone out and giving them a platform like we’ve had. So we organised a bit of a show, and Kate Wallis was picked and we used her garments in the photo shoot. She actually got a job in Harrods off the back of it!” George adds.

“Over this last year we’ve learnt how to make a b usiness, and that is just the most important thing of all” Collaboration is something that Bobby has long been keen on, previously working with Maxim from the Prodigy, and more recently entering into partnership with British tailor James Shipton to create the Shipton White brand as a side venture. Primarily a clothing brand, Bobby designs complementary bespoke cufflinks, tie pins, tie bars and collar stays. Each jacket is also finished with a solid silver button courtesy of Bobby. “We found that we were sick of buying designer clothes for thousands of pounds and then they’d fall apart after six months, or not fit right. We’d had bespoke suits made in the past, so we thought, maybe we could do this?” George explains. “And we’ve always loved suits and we always wear them, so it’s a good little side venture,” says Bobby. “We try to wear our brand as much as possible,” George adds, at which point both he and Bobby excitedly demonstrate their jackets, ties and shoes to me. “We’re like walkin’ billboards!” Bobby laughs. The Shipton White label has attracted much interest from the Formula 1 industry, and Bobby has been

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commissioned to make cufflinks for the Superstar Under 21s racing drivers. “We seem to have hit a bit of a niche market,” says George. “We’re also just developing a range for the British Racing Drivers’ Club, which is quite prestigious.” Working in partnership has been a learning curve for Bobby, however, and I ask how they believe successful collaboration – both between members of the Bobby White London team and between their brand and external parties – is achieved. “The key is being able to collaborate by using the talent around you in the best possible way,” George replies. “The main thing is to let the designers design, and the business people get on with the business part. I’m not a jewellery designer – I’m a businessman. So, while Bobby gets on with being Bobby White and designing fantastic jewellery, my job is to turn that into revenue and to keep us in the marketplace for the next 20, 30, 40 years. The same goes for Tommy, Bobby’s brother, who is our managing director. So yeah, I think that’s key for you Bobby really isn’t it? Getting the right people around you.” The business side of things has also been an area in which Bobby says he has grown in confidence and understanding over the past few years. “Previously we only looked at the design, and when a piece was finished, it was finished, and we’d wait for people to come. But I think over this last year we’ve learnt how to make a business, and that is just the most important thing of all – making the business; getting structures in place to deliver the pieces; and making sure people are seeing it and wearing it. That the biggest lesson that George has taught us,” he explains. “It’s about getting a whole 360 degree view,” George continues. “We’re trying to build a business for the future – not just for this moment. The infrastructure allows this range to be successful, and then the next range to come out, and the next, and the next. “The other big thing we’ve learnt it to be humble and to take advice from all over the place. We’ve been to see some big stockists and gained some great advice, and we’ve taken advice from back when we were working on the BR Republic brand and applied it to this new range. Having now gone back to those stockists, they’ve said: ‘Wow, you’ve really taken on board what we’ve said’. We’ve listened – that’s the thing; we’ve listened and applied the advice and taken it forward, but made sure Bobby is still true to who and what he is,

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which is a unique, sexy designer.” “Yes – we were so niche before, but we’ve got a balance now. We worked on making it a bit more commercial, but still with an edge to it,” Bobby agrees. Despite being willing to listen, Bobby and George recognise that they must still consider all comments objectively. “We don’t actually want to please everyone. We want people to buy into it and we want people not to buy into it – and that’s a critical point,” says Bobby. “But if someone does voice an opinion about why they don’t like it, then we will go away and think about it…” “Some of it we take on and apply and make changes, and then other times we think no, we’ve made our decision, and let’s stick with it. If it doesn’t work, we’ll know for next time. We’ve learnt a lot in the last five years, but we’ll learn a lot more in the next five!” George adds. Bobby tells me that he has enjoyed the entire process of his development as a business owner and designer, and in turn strives to create pieces that provide the “If you buy wearer with enjoyment. “It’s lovely your partner when people get a piece, and they the Star Cross’d tweet about it – maybe uploading Lovers ‘love pictures. It’s a nice feeling when at first sight’ you hear that people are enjoying piece for the their pieces. With this range it’s anniversary of about the story as well – if you when you first buy your partner the Star Cross’d met, it means Lovers ‘love at first sight’ piece for there’s a nice the anniversary of when you first met, it means there’s a nice story story behind behind it, rather than it being just it, rather than ‘a pendant’.” it being just “It’s all about being able to ‘a pendant’” create a story, and then letting your clients paint their own picture around it…” George adds. “Yes – to tie it in with their own story,” Bobby continues. “It’s like music – a song has got so many different meanings to it depending on who is listening.” Currently, the team is firing on all cylinders, sharing the new range with the UK marketplace – and, soon, America – and undoubtedly spreading their positivity, excitement and enthusiasm. Meanwhile, plans abound for the future of the collection and Bobby White London as a brand. “Next we will be developing this range (which is currently 26 pieces) with one-off editions and more additions. We’ve also got some art coming out to go along with it, to build the story up more. So we’re working on getting some artists to produce drawings and some limited edition prints,” says Bobby. “It goes back to what we were saying earlier, because we’ll be commissioning some up-and-coming new artists,” George explains. “And then there’s the men’s range we’re going to do – just a small men’s range,” Bobby continues. “And then the next range after that!” adds George. “More than anything, we think that if we do good things, then good things will eventually happen. Bobby is a great guy and he’s got a real talent; if we just keep doing what we’re doing, hopefully that will get recognised.” I don’t think they have any reason to be worried. After all, the Globe Theatre has already asked to use some of the pieces from the collection in next year’s production of Romeo and Juliet. Oh yes, and then there’s that small matter of the distribution deal that has just been signed with Goldsmiths...

June 2012

Jewellery FOCUS

June 2012

Jewellery FOCUS

The Jewellery Show LONDON

he inaugural Jewellery Show London, taking place on the 12 and 13 June, aspires to create a platform for brands, suppliers and designers to showcase their autumn/winter 2012 collections, as well as their spring/summer 2013 ranges. Held at Somerset House, the opulent setting is geared to provide an “inspirational and trend-defining environment,” consisting of four main areas: the Gallery, Waterside Studios, Waterside Boutique and the Upper Level Boutiques – where a selection of brands and individual designers will exhibit in a luxury boutique-style setting. Running during London Jewellery Week, the Jewellery Show London promises to be the “perfect place for the industry to network and do business, timed early enough for retail jewellers to source new ranges for the festive trading period.”

The Edmond J Safra Fountain Court © Marcus Ginns

“As a result of industry feedback we set out to create an event with a fresh pers pective on how people want to meet and trade”

Capital

gathering

This year sees Somerset House play host to the first London edition of the Jewellery Show, which will feature seminars and new products for the trade Jewellery FOCUS

Visitors to the show will have the opportunity to attend a programme of seminars and panel debates that will be hosted by jewellery experts from across the industry. Scott Walter of the Edinburgh Assay Office and Steve Emecz of Powa Technologies will host Unlocking Ecommerce for Jewellery Retailers – a session covering the key elements to grow your jewellery business online. An interview with Annoushka Ducas will detail the journey of the jewellery designer, while Jacqui Ma, senior editor of accessories and footwear for WGSN, will discuss jewellery market trends for spring/summer 2013. The Essential Guide to Selling Diamonds seminar will be hosted by Edward Johnson of the GIA, and an overview of the gold market will be delivered by Eily Ong of the World Gold Council. Meanwhile Michael Allchin, CEO and assay master at the Birmingham Assay Office, will provide an analysis of the impact of high precious metal prices on the jewellery market. A Catwalk Café, recreated from the Jewellery Show Birmingham, will also host three styled catwalk shows a day. Commenting on the launch of the event, event director Julie Driscoll said: “We are delighted to be launching the Jewellery Show London. As a result of industry feedback we set out to create an event with a fresh perspective on how people want to meet and trade. The response to the launch has been overwhelmingly positive. We look forward to collaborating with the industry to drive buoyant trading in a year that sees celebrations of the Queen’s Diamond Jubilee and the Olympics. “The show will see a jewellery trend edit detailing trends for the year ahead, which will inspire retail jewellers from around the UK and wider world. We will also be hosting the British Jewellers’ Association’s AGM, working closely with the Company of Master Jewellers and the Houlden Group, to ensure that all retail jewellers are given an inspiring trading environment.” Among the 82 brands and designers confirmed to exhibit are: iKuria, Buja, Chavin Jewellery, Missoma, Anna Faine Jewellery, Majestic Jewellers, Erfurt Design, Bering Time, Kennett, Torgoen, Dorit, and Charming.

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For more information, please visit

June 2012

The Jewellery Show LONDON

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Since 1853 Ltd has announced the UK launch of four new and exciting watch brands at the Jewellery Show London. The brands Avio Milano, Boxer Milano (pictured), Byblos and iTime are of Italian design and are set to prove a great success in the UK watch market. Combined with good styling, the watches come with either Swiss or Miyota movements. Other features include 316L stainless steel cases, rubberised leather straps, PVD finishing, luminescent indexes and hands, and many other features. Business development director Pete Carmichael said: “I am delighted to have secured these exciting brands. The incredible designs, build quality and retail price point will make all of the brands great sellers here in the UK. They are perfect for every type of retailer and the watches will appeal to a wide demographic of customers.” Information: 0845 911 1853 or info@since1853ltd.co.uk Stand: 11, Lower Galleries

ED Erfurt-Design manufactures silver jewellery with semi-precious 

stones. The collection, visible in the online catalogue, is divided into three sections: ED Unique – unique silver ring and pendant designs for carefully selected stones in top manufacturing; ED Classic – a collection of standard designs of rings, pendants and earrings regularly in stock; and ED Funtasya – a colourful collection of combination pendants, stacking rings and matching earrings for individual creations. Information: www.erfurt-design.de Stand: WS10

 This year at Somerset House,

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Michael Weggenmann jewellery is handmade by master craftsmen. Modern classics, the pieces are confident and innovative, based on four generations of jewellery design experience and an uncompromising passion for the finer things in life. Michael Weggenmann and daughter Lisa Weggenmann’s collection of jewellery objects, made with fancy diamonds, are described as award-winning ‘one-of-akinds’, always demanding to be different from the rest. Information: www.weggenmann.com Stand: WS6

R M Shah Ltd will be displaying its new collection of finest colour aquamarines and gem quality Zambian faceted and cabochon emeralds, as well as some very attractive, newly acquired old cut and fancy yellow diamonds. Precious stone beads have always been one of the firm’s strongest areas, and a selection of rare unheated Burmese ruby and sapphire bead necklaces, and fine tumbled emerald beads will be on display for the first time. “We are very excited about exhibiting this year, but with so many beautiful and interesting gems available we are not going to be able to fit everything in the windows, so we encourage visitors to ask if they don’t see what they are looking for,” says the company. Information: 0207 405 2162 Stand: WS26

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Majestic Jewellery’s “original and ingenious designs”, created with the aid of innovative techniques and cutting-edge technology, offer invisibly set diamond jewellery. The company says that its diamond honeycomb cut and design carries worldwide patents assuring unparalleled security and brilliance, which is “unequalled in its quality”. Majestic’s range includes rings, bracelets, pendants and earrings in a variety of classic shapes. Information: www.majesticjewellery.net Stand: WS20

June 2012

Jewellery FOCUS

TRENDS

Glorious riches Inspired by the forthcoming Diamond Jubilee celebrations, Janet Fitch browses a selection of jewellery masterpieces, both new and old

une is here, and I’m really looking forward to the Queen’s Jubilee celebrations, heralding the start of a busy summer for the UK. Then there are all the other events that the Diamond Jubilee has inspired, with many in the jewellery world of course paying homage to the enduring appeal of diamonds. Gold, however, is the theme of the summer exhibition starting on 1 June at Goldsmiths’ Hall. Entitled ‘Gold: Power and Allure’, it is a comprehensive collection of over 400 gold items from 2500 BC to the present day. Among the many fascinating and beautiful pieces of jewellery are the Irish Lunula, circa 2000 to 2500 BC, a neckpiece hammered out of gold and shaped like a crescent moon; a seventh century pendant of beaded and twisted gold wires encircling a garnet; and my own favourite, a necklace made in 1966 by Ernest Blyth. Of course, there is also royal jewellery – royal wedding rings are traditionally made of Welsh gold, including a gold ring taken from the hand of the dead

Queen Elizabeth I. The exhibition runs until 28 July 2012, and there is a ‘Gold Trail’ charting other collections of gold that can be seen across the country. (www.thegoldsmiths.co.uk) Masterpiece London 2012 promises to dazzle and delight its visitors, including many serious and seriously wealthy collectors and enthusiasts of the best in art, antiques and design. This year’s fair promises added delight for fine jewellery addicts, with a diamond exhibition entitled ‘Brilliant’, curated by Carol Woolton, jewellery editor of UK Vogue. The exhibition aims to “provoke surprise and discussion” about diamonds, and provide the opportunity to enjoy and appreciate the stones, and the craftsmanship of each piece. Exhibitors include Cartier, Dior, Tiffany and Co, and Harry Winston. Theo Fennell is showing its range of Tryst rings, all in 18 carat gold, with vividly coloured and unique stones, featuring favourite flowers, a hummingbird or bee, or a lover’s personal inscription. The Bodkin star

Brilliant Caftan Double Row Diamond Necklace by Harry Winston

Roi D'Obsidienne Pendant by Dior Joaillerie

Goldsmiths

The Canterbury pendant

Lunula

June 2012

Gem-set gold pendant, c. 1570

Ernest Blythe Necklace, 1966

Jewellery FOCUS

TRENDS

William Pear Brooch by Michelle Ong of Carnet

Le Bal de Mai necklace by Dior

Brilliant pendant in 18 carat white gold and rhodium uses a subtle and sinuous design to show off the beautiful 3.28 carat diamond – the star of the piece. (www.theofennell.com) Dior is showing the exquisite Roi d’Obsidienne Pendant in platinum, white gold, ‘rainbow obsidian’ and diamonds. Masterpiece is at the Royal Hospital, Chelsea, London SW3, from 28 June to 4 July. (www.masterpiecefair.com) Trends come and go, but the tribal look is here to stay. Mawi jewellery is celebrating its 10th year, and has established a cult following for its striking pieces, all edgily contemporary, but evolving through the years, to make them treasures to keep and wear from season to season. The influences are tribal and bursting with colour – Hyper Luxe, inspired by traditional South Indian tribal jewels, but with a modern twist; the Pyramid collection, combining modern graphic shapes with folk themes, accentuated with Swarovski crystals and neon pearls; and Talisman,

Mawi with bold eye symbols. For autumn, there are three new collections: Panther, Punk Rajah and Neo Pagan, which explores the living mythology of sacred pagan rituals, continuing the tribal theme. (www.mawi.co.uk) Tribal Rock Chic is the latest theme of the A/W 2012 collections of Peter Lang, a leading designer from Australia. The theme launches three colourful daytime collections: Rustic Leather and Chain brings out a wild side with mesh bibs, skulls, leather clad finishes, and a nod to the 40s and 50s. Colour and Organic pieces feature glittering semi-precious stones, crystals, and roman gold finishes. The Crystal Pearl story echoes morning dew and underwater corals, and is very feminine; ideal for brides. (www.barberinifashion.com) Peter Lang is showing at Pulse, Earls Court, London, from 10 to 17 June, and at Treasure from 13 to 17 June, at Somerset House, London, where you can also see the Room of Dreams, an imaginative exhibition by Wendy Ramshaw, until 24 June.

Peter Lang Jewellery FOCUS

June 2012

Watchword

A new lease of life Ian Shaffer, director of sales at BQ Watches, tells Louise Hoffman about the development of his company from a hobby into a Europewide business, and the reasons behind the continued demand for preowned watches

BQ Watches has been enjoying much success thanks to the growth in demand for pre-owned luxury watches. Who gets the credit for having the foresight to establish such a service?

Well, that has to be me! Ever since I was a young child, watches have always fascinated me, especially quality brands such as Rolex. It has been a hobby that has remained with me throughout my life. After leaving school I went into the watch and jewellery retail business, and when I opened my first shop I realised the financial benefits of purchasing pre-owned, high-quality watches and selling them. After 40 years in the jewellery and pawnbroking business I thought it was time to take things easy and enjoy my life-long hobby, so about seven years ago I set up BQ Watches and handed over the running of my retail businesses to my two partners. I had just one phone and a kitchen shelf as my office. I thought at the time that it would be enough just to be involved in a hobby that I loved, and which would enable me to retire

June 2012â&#x20AC;&#x2030;

gracefully from the hurly burly of flatout business life. How wrong was I?

How do you believe the current consumer interest in these pre-owned timepieces has come about?

People across the world have always sought out quality items; whether it is to show off their status, or just as a sound economic investment. However, since the recession, many people have not had the money available to buy new, but still want to invest in a quality jewellery item. They can do that with pre-owned watches. For example, new Rolex prices have increased far more than the cost of second-hand models over the past few years. Indeed, you can buy a pre-owned model for around half the cost of a new model, and as the styles have changed little over the years, they look the same. Indeed, many specialist collectors believe that the older models are of superior quality and workmanship and are therefore the better bargain. And they are probably right in their thinking. However, I should point out that pre-owned makes such as Rolex,

Cartier, Omega and Breitling, to name but a few, hold their value exceptionally well. Savvy customers know this and that is a major reason why there has been so much interest in the past couple of years.

You no doubt realised that this trend would result in increased sales for your company, but has the scale of your success come as a surprise?

In a word â&#x20AC;&#x201C; yes. The scale of our success has genuinely taken me by surprise. As I said earlier, BQ Watches was set up to allow me to enjoy my life-long hobby and ease myself into retirement. Since I started in my kitchen, the business has grown at an almost frightening pace. Our turnover has increased over 40 per cent in the past 12 months, compared to the previous year, which was at the time our highest ever. We employ around 10 permanent staff in the UK, plus a further six on a consultancy basis around Europe. In addition, we have just built a new, state-of-the-art head office in Edgware, north London, complete with a fully equipped workshop staffed by a team

Jewellery FOCUS

Watchword

of industry experts to refurbish or repair watches, and we have three teams touring around Europe for 45 weeks every year buying and selling watches. We now have a multi-million-pound turnover – not bad for a retirement hobby, is it?

What kinds of brands and models are you able to supply? And which, in your opinion, are the most impressive pieces that you currently have in stock?

We mainly supply Rolex models, but we do trade in numerous high quality watches including Cartier, Breitling, Patek Philippe, IWC, Omega (not quartz), JL, Movado, BVLGARI, Audemars and Heuer. The most popular include the ladies’ and/or gents’ Rolex Datejust in steel and gold; the watch that we create, which is an all-steel Datejust to which we add high quality diamonds; the ladies’ 18 carat all-gold Datejust; the Submariner Date in steel; the Yachtmaster in steel; and the GMT Master in steel. That said, at this moment we do have a very impressive Rolex 5512 Brown Dial in stainless steel (pictured top right). This model is pretty rare and we have it for sale at £19,500. There is one offered on eBay with a price tag of $29,500, but unlike ours it has not been fully refurbished, does not come complete with its paperwork or have a

Ian Shaffer

Jewellery FOCUS

12-month guarantee. Another fairly rare example currently in stock is a Rolex Sea Dweller with Double Red Dial. This model features an Oyster bracelet and stainless steel body. This is offered for sale to our trade customers at £17,500 – about half its recommended retail value – and is much sought after by specialist collectors and enthusiasts.

Can you outline the trading process itself?

We purchase watches from a wide range of sources, across Europe. Our expert buying teams travel constantly, setting up trading areas in top-flight hotels in countries such as Belgium, Luxembourg, Germany, Cyprus, Portugal, Sweden and Holland. We now even have an office in Antwerp. Our visits are pre-announced with major advertising campaigns in all major national and local newspapers. We encourage members of the public to bring along to us any unwanted, unused or broken quality watches and see what they might be worth. We have a reputation for paying top prices as most of the time we have customers just waiting for the items. More and more retailers are turning to stocking second-hand watches now. In addition we encourage our trade customers to buy in pre-owned watches, which they can have repaired or serviced by us, either for selling on,

or simply just to buy from their local customers and sell to us. Most of our partners (as we like to call them) provide us with a shopping list of their customers’ demands and we go out of our way to satisfy that demand using our extensive network. To help meet the growing demand, we have recently been running advertisements on local radio stations to encourage individuals to consider selling their unwanted watches to us. The response has been fantastic.

What makes BQ Watches a good choice for retailers?

We have a reputation for being a market leader in buying and selling some of the world’s finest watches at very competitive retail jewellery prices, and only sell to retailers; not the general public. If we do get an enquiry from a member of the public we will pass that on to our nearest trade customer. Every watch we sell is fully serviced and/or repaired to manufacturer standards using only genuine manufacturer-approved parts. Plus every watch comes complete with a 12-month guarantee. We operate a 24/7 technical helpline, so if a jeweller is unsure about a watch a customer has brought in for sale or has any other issues, our experts are available to help. If we quote the retailer a price for a watch he or she is considering buying, that is what we will pay, even if it turns out to not be what we thought it was. This means the retailer is secure in being able to work out a mark-up.

“Since the recession, many people have not had the money available to buy new, but still want to invest in a quality jewellery item”

June 2012

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Watchword

know that. For example at the recent Jewellery Show in Birmingham we had our busiest time ever – despite snow on the opening day and a shortage of visitors overall, we had our biggest ever turnover in a single day in the history of our company. That clearly confirms our strategy is correct and that there is a rosy future for this market for a good few years yet.

“[ A t t he J e w e lle r y Sho w ] , w e h a d our b ig g e st e ve r t u r nov e r in a si n g l e d a y i n the h is t or y o f o u r c o m p any ”

In addition, if a trade customer buys a watch from us, and it subsequently remains unsold, we will buy it back at 95 per cent of the purchase price. That’s how certain we are about the products we sell.

What does the future hold for BQ Watches?

It is always difficult to predict what might happen in the future, however if the current trend continues – and there seems no reason why it won’t – then we will have to consider widening our catchment area.

June 2012

Finally, what do you love about wearing a good timepiece? We have concentrated our buying and selling activities within Europe, and although we have done well, we are nowhere near ‘draining the well’ of potential watches to buy. So our strategy must be much more of the same. In the immediate future we will be increasing the numbers of our expert buying teams and will be increasing our presence and profile at trade shows such as IJL and the Jewellery Show, as well as other smaller events throughout the country. The business is out there. We

To me, a good timepiece, such as a Rolex, represents quality, craftsmanship and a passion for demonstrating the watchmaker’s craft. Everything about a quality watch oozes style, fine engineering and reliable movements. Wearing a good watch is a bit like driving a Rolls Royce. Yes, it’s just a car; but compared to a Ford Fiesta it flaunts luxury, quality and craftsmanship. At the moment I’m wearing a Rolex Explorer II, with orange hands. It’s an example of outstanding quality from the 1970s. If others would like to follow my example, I can confirm it makes a good investment with a retail value of around £7,000!

Jewellery FOCUS

WATCH FOCUS

Amsterdam-based watch brand Time-It has reached the UK and is exclusive to Tide Distribution. The futuristic design of the Zero watch features an easy-to-wear, snap-curl design and an LED system that uses two lines of LEDs to convey the time. The watches are available in a range of colour themes, and are waterproof down to 3 ATM (32 feet). “If you want a unique, original product, this is the watch for you. The next big thing in watches is on its way, so why not be a part of it?” says Tide Distribution. Information: sales@tidedistribution.co.uk RRP: £89.99

Watch focus The Lacoste crocodile emblem graces the dial of some new additions to the range of Lacoste watches available in the UK. Described as “unconventional chic”, the new Montreal collection features this 44-millimetre, round-faced timepiece in stainless steel, with a quartz movement guiding the hands around the ivory coloured dial. The Lacoste logo stands prominent at 12 noon in the classic Lacoste crocodile green. This watch is finished on a brown leather strap. Information: 01428 664 702 RRP: £99

Dreyfuss & Co has announced the launch of a collection of prestige complication timepieces as part of a new series of limited edition models that include proprietary ébauches and branded rotors. The new collection of skeleton and moon phase watches “epitomises the beauty of classic Swiss watch design, reflecting heritage and commitment to aesthetics”. These new collections have been handcrafted using the first of two bespoke ébauches from the Dreyfuss & Co brand. Each timepiece is presented in a glass and oakwood automatic watch winding box to maintain the watch’s power while not on the wrist.

Folli Follie has built on the success of the Heart4Heart Watch Collection and introduced a smaller case, exemplifying the “elegant and precious character of the collection”. Available in rose-gold-plated, black-plated stainless steel and stainless steel casing, the watch series comes in combinations of white and black, fashionable pink, daring blue and red silky straps.

Information: 0207 434 7544

Information: 0207 240 9898

or www.dreyfussandco.com

or www.follifollie.co.uk

RRP: From £1,495

RRP: £165

June 2012

Jewellery FOCUS

A day at the Office

Diamond certification

Rebecca Share, gemmologist at the Birmingham Assay Office, outlines the tasks that she carries out during a typical day in the laboratory

ebecca Share is one of a small team of gemmologists working for AnchorCert, the gemmological laboratory of the Birmingham Assay Office. She spends her day looking at a range of diamonds and other gemstones that are submitted to AnchorCert by stone dealers, wholesalers, importers and retailers for certification or identification. Both mounted and loose stones are assessed by the team, using a comprehensive line up of high tech equipment to ensure they identify stones correctly. While AnchorCert deals purely in quality and authentication, not in allocating values, its independent assessment of the stone can have a significant impact on selling price. As recent news headlines from Antwerp have demonstrated, the integrity of the gemmologists and the organisation is paramount. The gemmologist must also be

June 2012

conscientious, vigilant and well versed in the latest treatments, which could easily catch out the less well informed. Enhancement and treatment of gemstones is an accepted practice within the jewellery industry, but they must be disclosed to ensure the stone trades at an appropriate price and is sold correctly. In a typical day at AnchorCert, Rebecca might start off with a parcel of 10 loose white diamonds from a local gemstone dealer. After these have been booked in, weighed and photographed, it is Rebecca’s task to start the important screening process to ensure that the diamonds are natural and untreated. For this procedure the DiamondSure equipment, specifically developed for the purpose by the Diamond Trading Company, is used. Rebecca says: “The DiamondSure is a ‘must have’ instrument for any serious diamond laboratory. This amazing piece of kit searches for the key

Jewellery FOCUS

A day at the Office

Focus on the expert absorption line in the main type of diamonds – Type Ia – and gives us an immediate indication as to whether the stone is susceptible to a particular type of treatment – HPHT (high pressure high temperature) – or could possibly be a synthetic. The treatment aspect is very important as it is not something that can be picked up by magnification, and since the diamond’s colour can be improved so vastly, the value could be massively different if the buyer is unaware that it has been treated. This quick screening cannot be achieved by using any other equipment.” In this case all stones receive a ready ‘pass’ and Rebecca can begin the process of closely assessing the diamonds in order to grade each one for colour and clarity. All is going well until Rebecca spots an unusual looking feather shaped inclusion, too glassy to be normal, with strange black squiggles inside one of the diamonds. Moving from her 10x loupe to a microscope, Rebecca confirms that the inclusion is in fact not natural but the result of a KM laser treatment, which has been used to remove a much larger natural inclusion, thereby improving the apparent clarity of the stone by at least two grades. This is an accepted practice but must be disclosed and so it is clearly included on the AnchorCert certificate when it is printed. “The customer who submitted this has probably spotted the evidence of KM lasering himself, and sent it to us for an independent opinion,” says Rebecca. “This treatment is increasingly prevalent, even in relatively small stones, and is well documented in the gemmological journals. Although not as easy to spot as laser drilling or fracture filling, the unnatural look of the feather and strange black lines can be a giveaway. It is, however, important not to confuse them with the natural counterparts that they mimic.” After handing that parcel to a colleague for the second grading to be carried out, to validate Rebecca’s results, the next parcel contains 20 diamond rings, each of the same style. The retailer has bought these to a specification and wants AnchorCert to verify the total minimum weight – which can only be an estimate based on measuring the mounted diamonds and applying a formula – and to check that the stones are natural diamonds, untreated and a minimum J colour, SI clarity. After passing all of the rings using the DiamondSure once more, Rebecca checks the weights are satisfactory easily enough and uses her GIA colour master stones to qualify the colours. However, when it comes to clarity

Jewellery FOCUS

there is a problem. As Rebecca explains, “the tell tale holes on the surface of the table and pavilion indicate that, despite these diamonds weighing only approximately 0.05 carat, they have been laser drilled to remove the dark inclusions and enhance the clarity.” A phone call is required to alert the client that the product has failed as the stones have clearly been treated. Finally, Rebecca begins work on a loose yellow diamond weighing 1.75 carats; an investigation that any gemmological detective would relish. “A jeweller in a retail store without access to the specialist technology would have no chance of ensuring that this is a natural coloured diamond,” says Rebecca. “Whether it is natural or not could make thousands of pounds’ difference to its value, which is why people send stones like this to AnchorCert. “Assessing whether the colour of a yellow diamond is natural is a lengthy process and can take hours of analysis over several days,” she continues. “We start off by using the DiamondSure to check for a Type I diamond, which would be the most common for a natural yellow. Although this result is crucial, the diamond must still go for further testing. After a quick look on the DTC DiamondView to confirm that the growth structure of the diamond is natural and not synthetic, we move on to the FTIR – Fourier transform infrared spectroscope – which confirms the ‘type’ we are working with. This helps us to narrow down what sort of treatment we could theoretically be looking for. We then move on to the Raman Spectroscope. The Raman is an unmistakeably fantastic piece of equipment that few people are lucky enough to ever get to use. For us, however, it means we can test for anything as complicated as HPHT treatment on diamonds or as straight forward as gem identification. We are fortunate to have the use of two lasers – the 514.2nm (green) and 633.4nm (red). These allow us to examine a wider area of the visible and near infrared spectrum. After looking for certain peaks, which confirm that this diamond is not treated, we can use the UV-Vis to analyse the ultraviolet range of the electromagnetic spectrum. This helps us to explore which ‘group’ this naturally coloured diamond falls into and to assign a final colour grading. “Without this equipment and the experience and training we have all had, we could never be sure, but having tested the stone in so many different ways we are confident that we can certificate it as a natural yellow diamond, and our independent, expert report will significantly increase its value.”

Rebecca Share

Gemmologist Rebecca Share DGA FGA studied at the Birmingham School of Jewellery and worked in jewellery retail for six years before joining AnchorCert in 2010. Rebecca is relishing seeing the industry from a completely different angle. She says: “I find it fascinating to be ‘behind the scenes’. I understand the consequences of an AnchorCert report for for the the salesman consumer from a first-hand, frontline perspective.”

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.

June 2012

COMMENT

Going for gold Seeking to protect jeweller and consumer alike, Michael Hoare announces a new scrap gold standard developed by three of the sector’s most influential trade associations

ew can be unaware of the effects brought about by rising metal prices, either because they have been subject to delays or inconvenience occasioned by stolen signal wires; deplored the theft of lead from church roofs; or realised the potential of profit from trading in scrap gold. Whatever the reason, it is clear that metals have become a worldwide issue and the Government is minded to legislate; principally to close the gaps in the 1964 Scrap Metal Dealers Act and thus curb illegitimate disposal through backstreet dealers. But so much for scrap, would gold be next? And would pawnbrokers and jewellers come under the same levels of scrutiny? Over the last three months, the three principle jewellery trade associations, the National Association of Goldsmiths (NAG), British Jewellers’ Association (BJA) and National Pawnbrokers Association (NPA), have joined forces with Surrey Police to produce the Gold Standard – a new voluntary code of conduct for the face-to-face purchase of second hand precious metal.

Our experience with SaferGems over the last couple of years, has convinced me that jewellers are sometimes unwittingly facilitating the disposal of illicit goods This new initiative, originally intended just for Surrey, has gained accreditation from the Association of Chief Police Officers, Trading Standards Institute and the National Measurement Office, and may as a consequence gain national recognition. It sets out to tackle five key areas of current industry concern. First, it sets a common standard for the trade to adopt where currently no guidelines exist; secondly, it will reduce the risk of Association members inadvertently purchasing stolen goods and possibly having that property seized by the police as part of their investigations, or even being prosecuted for the handling of those stolen items; and lastly it will provide the police with evidence of where stolen items of jewellery might be traded. Furthermore, it will provide the consumer with additional confidence to trade their items in-store; and it will help establish the provenance of gold going back into the UK supply chain; where 90 per cent of the gold currently used is recycled. As one of those closely involved in this new initiative, alongside my colleagues from the BJA and the NPA, I am

June 2012

I believe that once again the jewellery sector has shown itself capable of putting its own house in order before having legislation thrust upon it pleased to see this work come to fruition, as our experience with SaferGems over the last couple of years, and contacts with our European counterparts, has convinced me that jewellers are sometimes unwittingly facilitating the disposal of illicit goods. For example, according to press reports at the end of April, the police shut down a Cambridgeshire business, seized jewellery and cash from the store, and arrested a man on suspicion of handling stolen goods. Apparently the police were alerted by a burglary victim who believed that her stolen jewellery had found its way to the shop. Although I know nothing about the specifics of this case it does highlight one of the reasons why all three associations responded to Surrey Police’s initiative. If nothing else, the basic procedures for the recording of over-the-counter scrap purchase should protect the public and the jeweller alike by going some way towards establishing the legitimacy of goods offered for sale. Between them, the NAG, the BJA and the NPA represent a substantial proportion of the UK jewellery supply chain, and all three have alerted their respective members to the ‘Gold Standard’ simultaneously; distributing copies of the code and an identifying logo to those who register. A general awareness campaign will follow in a matter of weeks, and it won’t be long before the public begin to seek out companies who voluntarily adhere to the code. All three associations have further information available either from their websites or upon request, and in our own case this can be seen at nag-blog.org The purpose of any code or standard is surely to acknowledge and reinforce above-average behaviour where it already exists, and to raise standards where they currently fall short. Its purpose is not just to reinforce the status quo, and as such it will inevitably lead to changes in systems and behaviour. I know only too well that it is impossible to satisfy everyone – some will call the measures too prescriptive, and others not nearly tough enough – but notwithstanding these observations, I believe that once again the jewellery sector has shown itself capable of putting its own house in order before having legislation thrust upon it.

Jewellery FOCUS

TAKING STOCK

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Karma Se7en is a new and unique British brand of fine body jewellery. Its newly released luxury range of gold, Swarovski gemstone, silver and diamond jewellery has filled a gap in the market which “for so long has been overlooked by the retail jewellery industry,” the company explains. All product ranges are designed and manufactured in the UK by Karma Se7en’s in-house design team, who have over 20 years’ experience within the sector. The K7 range focuses on the different types of ear piercings that are now more popular than ever, such as the tragus and ear rim piercings. “Our four signature ranges of jewellery have each been designed especially to fit into any high street jeweller, to service an extensive existing market that is not being catered for currently on the high street,” it adds. Information: 0845 299 7797, info@karmase7enwholesale.com or www.karmase7enwholesale.com

Goldline Design has been repairing and re-springing watch links, watch bracelets and bangles since 1988. Based in Essex, the company also makes and fits handmade watch clasps and ladders in sterling silver, nine carat yellow and white gold, 18 carat yellow and white gold, and platinum. Single links can be made and fitted to most bracelets and the company offers other services including complete refurbishment of watch cases and bracelets; polishing and rerhodium; bracelet removal; and fitting of strap lugs. Nine or 18 carat buckles can also be supplied and fitted. Information: 01702 543 100 (Terry) or tcawston15@gmail.com

Takin Taking

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Noble has experienced a remarkable shift in trend and a greater demand in bespoke jewellery displays and packaging. Noble UK, Noble Canada and Noble USA had a “soaring increase” in bespoke orders over last year, surviving the recession by navigating through the various challenges it faced. Noble is renowned for craftsmanship, attention to detail and elegance, providing a quality product the world over. “Our in-house consultants and designers work closely with the customer and each bespoke order is carefully designed by our craftsmen to attain a result of outstanding quality,” the company says. Information: 0208 805 4111 or ms@noblegift.co.uk

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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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Charms UK is launching a new season collection of Candy Bling bracelets for summer 2012. “Perfect for the new season,” Candy Bling bracelets are the latest must-have accessory from Charms UK. The Candy Bling Summer 2012 collection includes over 200 new products, including bracelets and necklaces created in sterling silver with cz, crystal, pearl and hematite. Picking up on this season’s trend, the bracelets feature coloured crystal beads, and are available in a variety of colours and styles, suitable to be stacked or worn singly. To request a brochure or place an order, contact Charms UK direct using the number below. Information: 0117 968 3979

June 2012

Jewellery FOCUS

TAKING STOCK

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New summer collections from Curteis capture pretty coloured cat’s eye beads, encased in sterling silver floral pendant domes. These are hand-stitched together with silver wire and supplied with a hallmarked sterling silver pendant chain or bracelet. Contact Curteis Limited for a catalogue or visit the website to qualify for free postage. Information: 0800 195 6771 or www.curteis.com “Like the Roman goddess of love, the Venus Collection has both beauty and elegance,” says Tresor Paris. This decorative collection focuses its attention to the classic Tresor Paris Tibetan cord. The new pattern made by the cord creates a delicate lace effect, while the feminine style of the collection is “complemented by the use of bright coloured crystal.” The sunshine yellow of the Soleymieux make it a perfect summer accessory, while the baby blue Mer channels this season’s pastel trend. Taking the look from day to night is the royal blue of the Sur L’Ocean bracelet. “We have fallen in love with Venus!” the company says Information: 0203 355 4031 or www.tresorparis.com



Theo Ioannou from Cad-Man.co.uk has been making fine quality jewellery as a service for over 30 years, and says that the firm undertakes the most complex of jobs. “Often, the most rewarding work can be that which challenges our conventions,” says Theo. An example of this can be seen in the creations of Gabrielle Harris, who was assisted by the team at Cad-Man in producing her MA collection at Central Saint Martins. Gabrielle was fascinated by “the unseen beauty on the reverse of jewellery.” It led her “to question the conventional assumptions that compose the etiquette of high-end jewellery – the codes which shape a piece, from the cut of the stones, to the settings and to the back holes.” At Cad-Man there is a considerable depth of knowledge that goes into the work, whether it is a traditional piece or cutting edge design. “You can be sure that we will live up to our slogan, ‘from concept to completion – Cad-Man makes the difference’,” adds Theo. Information: 0207 430 1317 or www.cad-man.co.uk



“There are many high-end jewellers and haute couture outlets in expensive locations whose actual facades and interiors are made up of nothing more than cheap repro and plastic at top dollar prices, which fool the owners and clientele just long enough for them to pay and walk away before realising what they actually bought into – never to return,” says David Ostick. “For those wanting to have a genuine, uniquely stylish interior, based upon the study of the history of design and architecture and fine craftsmanship, there is only one British designer to ask: David Ostick – designer and project manager for unique projects only,” he adds. Information: 07747 868 740



Gemvision’s new organic modelling tool within its Matrix 7 software gives even greater control in creating designs traditionally only done by hand or wax carving. “Matrix is the complete design tool for professional jewellers and designers, providing the freedom of control and level of detail required by the jewellery expert for even the most complex design shapes. This is finished off with incredible imaging for publishing on the web or in marketing literature,” says the company. Information: 0113 389 9710, gveurope@gemvision.com or www.gemvision.com

Jewellery FOCUS

June 2012

SELLING

Open-ended questions This month Brad Huisken focuses on one of the most difficult aspects of needs assessment – mastering the art of good questioning

n the previous article we started discussing the topic of the ‘needs assessment’ and how important it is to ask questions. This month I want to continue the needs assessment process by looking at the types of questions that professional salespeople should be asking – openended questions.

Open-ended questions

If you have taken any communication courses or journalism courses you would have learned that open-ended questions are those that cannot be answered with a simple ‘yes’ or ‘no’ response. As a salesperson you have to get the customer talking and giving you the maximum amount of information possible, therefore all needs assessment questions should be phrased as open-ended questions. It is the extra information that an open-ended question can give you that contains the vital details and information you will need to determine the direction of your sales presentation. Open-ended questions begin with either ‘who’, ‘what’, ‘where’, ‘when’, ‘why’, ‘how’, or ‘tell me’; whereas closed questions begin with ‘do’, ‘have’, ‘will’, ‘are’, ‘did’, ‘could’, or ‘would’ etc.

It is the extra information that an open-ended question can give you that contains the vital details and information you will need to determine the direction of your sales presentation

June 2012

My advice would be to listen to yourself and your fellow salespeople carefully. Every time you hear “or” or “er”, a closed question was asked. For example: “Do you want round or marquis or princess cut?” My experience tells me that this will be one of the most difficult habits for the majority of salespeople to break. You can see how easy it is to answer this question with a single word answer as opposed to divulging valuable information. But with every closed question, it is very easy to change a word or two and turn them into high quality open-ended questions. For instance, the example above can become: “Which shape do you prefer?”

best questions’. In the majority of situations the key questions will give you the track to follow to determine the next best question for the particular selling situation. A key question is a powerful question that will give you more than one piece of information, or more detailed information – both of which will help you to complete the sale successfully. The seven key questions are as follows: 1. Who recommended our store?

1. Information questions 2. Key questions 3. Business questions 4. Add-on questions

This question is valuable because if the customer has been recommended by someone, then you have something in common with that customer. Furthermore, I would want to thank any customer who is recommending me and/or my store with a thank you note, gift certificate or at least a telephone call. Even if the customer wasn’t recommended by anyone, the fact that you asked the question implies that you get a lot of recommendations, therefore the trust factor is increased substantially.

Information questions

2. Who are you shopping for?

Key questions

When selling jewellery, it is essential that you know the gender and the relationship of the person who is to receive the merchandise. I know that a person is willing to spend more on their spouse’s anniversary or birthday than they would on a graduation present for the daughter of a friend. One should never guess anything about anybody. Don’t ask a closed question like: “Is this for your wife or girlfriend?” You never know what kind of answer you will receive from a question like that, and you also wouldn’t want to offend anyone.

There are four basic types of open-ended questions that we will be exploring during the needs assessment step. They are:

The first type of open-ended question is the information question, which is designed to get you into the customers’ shoes, so to speak. For example, you could ask: “What type of work do you do?” or: “Tell me about your jewellery wardrobe.” A key question (or essential question) has more than one reason, benefit or purpose. The majority of the following key questions should be asked with every client, as they are that important. I believe that in sales there is a logical sequence of ‘next

Jewellery FOCUS

SELLING

3. What brings you into our store today? As we have previously discussed, this question is the transition question between a non-business conversation and getting to a business conversation. Let me reiterate: this isn’t a question that should be asked as a greeting or approach; it is used after you have attempted a nonbusiness conversation or determined that the customer is in a hurry and suffering from ‘time poverty’. This question will also allow many customers to tell you exactly what they had in mind. 4. What have you seen before that he/ she would really like? This is a key question because of the valuable information that it can give you. You may find out that the customer has just started shopping; the competitors that they have visited; a price range; a category; or a wealth of other usable information. 5. What’s the special occasion? This question will tell you the emotional reason behind the purchase, allowing you to focus on the emotional reason rather than simply the technical aspects of the purchase. Should you find that it is a 25th anniversary and the customer is taking a cruise to celebrate with his or her partner, then you would want to share in the excitement of the trip and the occasion. This single question is essential to help build a relationship with the customer. 6. What’s important to him/her in selecting a new ________? This question is, without a doubt, the most important of the key questions; yet it is also the most frequently missed question. It will give you all of the information you need in order to determine the type of demonstration you should give. You may find that the demonstration should be emotionally based, technically based, or you may find that the client needs your help in

I find that add-on questions are a weak area for many salespeople, but this part of the selling process will make a tremendous amount of increased sales for you

determining the quality and/or type of jewellery that fits the specific need. Additionally, you may find out what the client doesn’t want; a price range; which other items the customer already has; and a multitude of other valuable pieces of information. 7. When is the special occasion? This question is designed to put urgency to the purchase. Should the customer respond that the occasion is in the next couple of days, weeks, or even months, you would want to tell the customer: “That it is coming up quick!” or: “Terrific, let’s get this taken care of so you don’t have to worry about it any more.” The last thing you would want to do is to tell the customer that they have plenty of time to look around.

Business questions

You will use business questions to get the information that you need to complete the NA=A/DA step mentioned last month. Again, the goal is to get the prospect to open up with you and tell you exactly what it is they need and want. To further explain, business questions are those that relate directly to the merchandise or jewellery that the customer is about to view through the demonstration. For example: “What size diamond did you have in mind?” or: “What shape do you think she would prefer?” or: “What length has she worn in the past?” Every selling situation is different and therefore requires different questions to determine the appropriate items to show.

Add-on questions

An add-on question is one (or

several) that is asked in order to determine which appropriate add-on items you may want to introduce later in the sales presentation. Should you be able to determine a real need or desire for additional goods during the needs assessment step, I assure you the success you have in selling additional goods will be greatly increased, through asking questions early in the sales presentation. For example, a gentleman is looking for an engagement ring. Somewhere during the needs assessment process you should ask: “What did you have in mind as a wedding day gift for your bride?” To which he may reply: “What? I have to get her a wedding day gift too?” Then you might say: “Well, it is traditional to give pearls to the bride as a wedding day gift.” Then later on in the sales presentation you would come back with: “How about we look at some beautiful pearls that will make a great wedding day gift?” This increases the likelihood of showing and selling the pearls. I find that add-on questions are a weak area for many salespeople, but this part of the selling process will make a tremendous amount of increased sales for you. My suggestion is to look at every selling situation that you encounter and determine a set of add-on questions for each – look out for further advice in my future articles too! In conclusion, asking questions is the key to any successful sales presentation. Be curious, but remember to make your conversation, or needs assessment, conversational rather than interrogational through responding to the answers to every question. When customers are comfortable they are in the mood to buy, but when they are uncomfortable they tend to leave without making a purchase. This particular element of the needs assessment process takes a tremendous amount of practice. Give the time and effort necessary to make yourself an expert at the needs assessment phase and the dividends will be enormous.

Author, trainer, consultant and speaker Brad Huisken is president of IAS Training and authored the books and . He developed the PMSA Relationship Selling Program, the PSMC Professional Sales Management Course, the Mystery Shoppers Kit, the Employee Handbook and Policy & Procedures Manual, and the Weekly Sales Training Meeting series, along with aptitude tests and proficiency exams for new hires, current sales staff and sales managers, and the new Weekly Internet Sales Training Series. In addition, he publishes a free weekly newsletter called Sales Insight. For a free subscription or more information, contact IAS Training on 001 800 248 7703, or

Jewellery FOCUS

June 2012

Business

Bricks and clicks Scott Storey, managing director of CTS Retail, discusses why more retailers need to combine their online and offline activity in order to maximise sales

t is becoming more apparent that customers are now demanding more from their retail destination of choice. If they cannot buy it on the high street, they want to buy it online, and they want to be able to shop on the move via their mobile phone as well as from their home computer, so it is not surprising that online retail sales are continuing to soar. I think most retailers will agree that the modern consumer is more independent than ever and most of them understand and adopt technology

June 2012â&#x20AC;&#x2030;

easily. With the increasing presence of such an informed customer, it is crucial that retailers have an online presence to support their offline business, as without it, the retailer will lose market share to the competition that can deliver both. Offering such a variety of ways your consumer can shop with you, means that you are making your customersâ&#x20AC;&#x2122; experience as easy as possible. It also allows the possibility of capturing impulse purchases, because people can now shop on the move. It is common

for people to commute to work and browse the internet while doing so. People may also have a reason to visit your site if they have shopped with you before and have been enticed there through a sale or email voucher. Retailers need to be using every possible avenue to encourage custom. As well as the online and mobile shoppers, there are still impulse browsers on the high street â&#x20AC;&#x201C; those who are out for the day perhaps, or the older generation who do not necessarily get online as easily.

Jewellery FOCUS

Images courtesy of EC One

BUSINESS

Therefore it is key, in this current environment, to give customers a seamless integration between online and bricks and mortar offerings. This doesn’t only increase the visibility of your store and your stock; it is also the key to building customer loyalty and truly understanding your target audience. Industry recognised statistics show that retailers can expect to see an increase of seven per cent in overall sales when they include a web store as part of their retail estate, plus increased footfall of 22 per cent in-store. The reality is that if the customer does not receive the same level of experience through the various shopping channels available, then the retailer runs a significant risk of losing market share. Typically retailers have managed web stores and bricks and mortar stores with different management structures and disciplines. Ensuring the level of customer service is not only maintained but increased is a crucial component of the success of this integration. In the first instance, this is about the retailer’s personnel; aligning their working processes and values to deliver a true cross-channel customer experience. Stock availability and customer service at local store level are critical. With technology evolving daily, consumers are expecting more from a retailer. They want to purchase a quality product, receive independent affirmation that their purchase will be a good one, and they expect the

Jewellery FOCUS

Industry recognised statistics show that retailers can expect to see an increase of seven per cent in overall sales when they include a web store as part of their retail estate, plus increased footfall of 22 per cent in-store same high quality customer service regardless of their preferred method of purchasing. When a retailer can deliver the same experience through a crosschannel, multi-channel or bricks-andmortar transaction, customer loyalty will increase and therefore a true commercial advantage can be obtained. Today’s consumer is informed and has access to various sources of information via the internet to research and buy products, but the bricks and mortar store will always exist for the following reasons: • Having researched the item, I want it now, so whether this is ‘reserve and collect’ or drive to the store and purchase, immediacy will drive bricks and mortar sales. • Some products are very personal and therefore the product needs to be seen and considered in person, even if it has been researched previously. • Customers look to the retailer to have expertise and knowledge, so speaking to a member of staff in a store will again instil confidence in

the customer purchase. Customer centricity is the true driver of the need to integrate online and offline systems. In my opinion, this leads to the seamless integration of many systems – the accounts package, POS solution, inventory management, web store(s), warehouse management system, ERP and CRM. To truly deliver the customer experience, the EPoS solution and web store(s) need to be completely integrated, delivering a strong message to customers from a marketing perspective through social media applications such as Facebook or Twitter. Front end or customer facing solutions must be the first components on the road to customer centricity, followed closely by all traditional back office applications supporting this activity. In essence, a truly cross-channel experience means that your customers have total choice in the way they shop with you. Competition is mounting, and I believe only those companies that embrace technology to reach out to their customers will be successful. Scott Storey is managing director of CTS Retail, a company with over 27 years’ experience in offering a range of IT products and service solutions for all sizes of retail business in many different retail sectors. CTS Retail is a Microsoft Silver Partner reseller of Microsoft Dynamics and the only UK reseller of Cervello. For more information visit

June 2012

DATA

Prices • Figures • Outlook Retail sales volume: March 2012

Metal Prices £/Unit

Feb 12

Mar 12

Apr 12

% Change

March this year saw the value of retail sales increase by 5.7 per cent compared with the same month in 2011, with sales volumes showing an increase of 3.3 per cent. The all retail sales values index increased by 1.8 per cent compared with February 2012.

Sterling Silver £/Kg

640.30

597.50

549.69

Minus 8%

Gold £/g

34.47

33.32

32.35

Minus 3%

Palladium £/g

14.12

13.05

12.92

Minus 1%

Platinum £/g

33.64

32.68

30.43

Minus 7%

Rhodium £/g

31.11

28.14

27.61

Minus 2%

Iridium £/g

22.13

22.01

21.65

Minus 2%

Ruthenium £/g

2.65

2.35

2.30

Minus 2%

Scrap Metal £/Unit

Feb 11

Mar 12

Apr 12

% Change

Sterling Silver Scrap £/Kg

601.19

561.00

516.11

Minus 8%

9ct Gold Scrap £/g

12.47

12.06

11.71

Minus 3%

14ct Gold Scrap £/g

19.46

18.81

18.26

Minus 3%

18ct Gold Scrap £/g

24.95

24.11

23.41

Minus 3%

22ct Gold Scrap £/g

30.47

29.45

28.60

Minus 3%

Platinum (95%) Scrap £/g

27.16

26.39

24.57

Minus 7%

The sales volumes growth was largely attributed to ‘other stores’, ‘non-store retailing’ and automotive fuel. The year-on-year implied price deflator in March 2012 rose to 2.5 per cent from 2.4 per cent in February 2012. In March, one of the main drivers for value and volume increases (for both year-on-year and month-on-month), came from sales by predominantly automotive fuel stores. In March 2012, sales volumes increased by 4.9 per cent and sales values increased by 4.2 per cent when compared with February 2012. Predominantly non-food stores sales volumes in March 2012 increased by 4.6 per cent from sales volumes in March 2011, while the value of sales increased by five per cent. The increase in sales volumes and values was due to increases in each of the component sectors. Average prices are estimated to have risen 0.4 per cent in the year to March 2012. March’s estimated average weekly sales were £2.6 billion, of which 7.2 per cent of sales (£188.3 million) were made via the internet. The non-seasonally-adjusted internet sales values in March 2012 rose by 15.2 per cent compared to March 2011, and it is estimated that internet sales now account for 8.5 per cent of all retail sales values, excluding automotive fuel. The non-store retailing sector had the largest proportion of internet sales in March 2012, now accounting for 59.9 per cent of all sales in the sector. This percentage has risen from 54.9 per cent in March 2011. The food sector shows the lowest proportion of internet sales, up from 2.8 per cent to 3.1 per cent. The average weekly non-seasonally-adjusted value of internet sales in March is estimated to be £484 million, rising from £475 million in February 2012.

June 2012

Source: ONS

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

1,726

950

1,191

863

760

0.10 Carat

1,657

1,058

1,598

947

710

0.25 Carat

2,679

1,480

2,238

1,258

858

0.50 Carat

7,296

3,290

4,649

2,861

2,432

0.75 Carat

8,978

5,387

5,870

4,005

3,177

1.00 Carat

15,849

8,391

10,572

6,792

4,395

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 May 2012 /Dollar Exchange Rate 1.6218

Jewellery FOCUS

Hallmark figures - Apr 2012 Month Apr 11

Month Apr 12

Variance

1,738 403 378,876 4 381,021

1,728 217 296,977 7 298,929

-10 -186 -81,899 3 -82,092

-0.6 -46.2 -21.6 75 -21.5

26 6 28,119 61,639 4,968 160,923 255,681

44 214 23,356 57,455 3,873 212,219 297,161

18 208 -4,763 -4,184 -1,095 51,296 41,480

69.2 3,466.7 -16.9 -6.8 -22 31.9 16.2

0 20,994 12 5 21,011

7 22,432 6 2 22,447

7 1,438 -6 -3 1,436

100 6.8 -50 -60 6.8

2 8,794 3 8,799

0 12817 862 13,679

-2 4,023 859 4,880

-100 45.7 28,633.3 55.5

666,512

632,216

-34,296

-5.1

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 precious metal articles hallmarked by the four UK assay offices was down 5.1 per cent in April compared with last year. A positive uplift in the number of gold items hallmarked – up 16.2 per cent, over 41,000 items – is encouraging, but the number of silver articles hallmarked continues to decline with a drop of 21.5 per cent, or 82,000 items. Platinum was up 6.8 per cent and palladium was up 55.5 per cent – both driven largely by the bridal market. Source: Birmingham Assay Office

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June 2012

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Repair Services Is your Rolex watch bracelet stretched and worn?

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June 2012

Your Views

Voice

onthe

highstreet

Wendy Laing, director, and Lauren Anderson, online manager, of Laings of Glasgow Could you tell us a bit more about the history of the company? Wendy Laing (WL): My husband Joe and I joined as directors in 2011 and we are the sixth generation in the Laings of Glasgow story. We have been trading as a family jeweller for over 150 years and my father, Stuart Laing, has been at the forefront of the business for 40 years now. Laings opened its doors in Glasgow’s historical Argyll Arcade in 1971 and we now have two stores located there, as well as the newly opened Robert Stewart shop, a brand that we have revived as part of an on-going expansion plan.

Which services does Laings offer?

WL: We always aim to give our customers a unique and special shopping experience and we are keen to add value wherever possible. Therefore we offer a range of services including valuation days, insurance and interest-free credit options. However, I believe the greatest service we provide is our five-star customer relations – the personal and one-to-one touch that makes jewellery buying a special experience.

Laings has been shortlisted for Scottish Retailer of the Year 2012 at the Scottish Fashion Awards. How do you set yourselves apart from other jewellers?

WL: Laings of Glasgow is a long-standing symbol of luxury and quality in the city and we always strive to maintain this reputation in all areas of our business. Customers are treated with the utmost care and attention from the moment they walk through the door. Whether they are interested in an engagement ring, a high quality watch or simply looking for a unique and beautiful gift for a loved one, customers are the lifeblood of our business and are treated as such. We pride ourselves on offering every member of staff a high level of training to ensure their product knowledge is second to none, and in our stores within the Argyll Arcade we have dedicated, comfortable areas set aside for customers to sit down with a sales advisor and take time to look at the pieces they are interested in, while enjoying a glass of bubbly or other refreshment.

What is selling well at the moment?

WL: From Rolex watches and high-end, certified diamond rings, to exciting pieces from up-and-coming designers, we have a loyal customer base across the board and I’m thrilled to say all areas are performing well for us at the moment.

June 2012

Lauren Anderson

How long has Laings been selling jewellery online? How important is it to have an online presence in the jewellery industry today?

Lauren Anderson (LA): Laings of Glasgow has been selling online for a couple of years now, but this is to become much more of a focus for the business and I have been tasked with increasing Wendy Laing our online presence. From selling products online to being active in the social media arena and using that as a way to engage with customers, a presence online is essential and I’m excited to be working with such an established and renowned brand on their on-going web-based activity.

It was just recently that you joined Laings as an online manager. What are your aims in your new role?

LA: Laings has a longstanding reputation for luxury and quality within the industry and I will be striving to ensure this image is upheld across all online activity. Just because purchasing online is not a face-to-face transaction doesn’t mean it can’t have the personal touch, and I’m keen to bring Laings’ five-star customer service to all web activities.

What do you enjoy most about working in the jewellery industry?

LA: There is a huge degree of integrity within the jewellery industry that I appreciate. It’s also a pleasure to be able to work with luxury brands and be close to the exciting innovation that new designers bring to the fore.

Are there any new developments in the pipeline for Laings?

WL: Last year was an exciting time for Laings of Glasgow with the opening of our 3,000 square foot flagship store, and 2012 looks set to be just as busy. Our online presence is a big focal point for us this year and our new website is due to go live this summer. The on-going rejuvenation of the Robert Stewart brand will also progress and the store will be undergoing renovation work with a view to revealing a new concept store later this year.

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