Jewellery Focus October 2012 by Designed by Arthouse Publishing

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

FOCUS

Deck the shelves Preparing for this year’s Christmas sales season Why buying gold can still be a lucrative business strategy for the jeweller

Brand ambassadors: harnessing the power of the celebrity to boost sales

editor's letter

Jewellery FOCUS

Editor

Louise Hoffman

louise@jewelleryfocus.co.uk

Editorial Assistant

Callum Gildart

callum@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

Deputy Advertisement Manager

Michele Rogers

michele@jewelleryfocus.co.uk

Senior Sales Executive

Lauren King

lauren@jewelleryfocus.co.uk

Accounts

Maureen Scrivener

accounts@jewelleryfocus.co.uk

Customer Services

01206 767 797

customers@mulberrypublications.co.uk

Contributing writers: Brad Huisken, Marc Woodall, Michael Hoare, Phil Withington, Urs Wolfenberger Design

Arthouse Publishing Solutions contact@arthousepublishing.co.uk

In support of:

Editor’s letter W ell, what a busy month it has been! Since I last wrote, I’ve had the pleasure of interviewing the inspirational goldsmith Kevin Coates (article to follow in next month’s issue); spent three very busy and enjoyable days at the International Jewellery London (IJL) event at Earls Court; and attended a fascinating gemmology workshop led by Claire Mitchell FGA DGA, at the Gemmological Association of Great Britain’s (Gem-A) headquarters in Hatton Garden. IJL is always a highlight of my year, as it is great to meet face to face with industry representatives and advertisers, and to view new collections first hand, instead of via the usual emails – impersonal and intangible, but undeniably convenient. I was also able to attend the International Palladium Board seminar and the announcement of the Brown & Newirth/Holts Academy competition winners. Although the visitor footfall was not ideal for the exhibitors, everyone I spoke to had received interest and orders, with some of the stands, such as those of Tresor Paris, BQ Watches, Charms UK, Marcia Lanyon, Greenspark, Bering Time and Nova Silver, proving to be constant hives of activity. Indeed, Simon Millership, owner of the latter brand, excitedly told me that there was “a buzz in the air”. I hope this means that many of you were able to source exciting new lines to pull in the punters during the forthcoming Christmas sales season, and into 2013. I certainly saw some wonderful pieces as I wandered the aisles, from brands such as Thammarat Trading, Jesa, Babette Wasserman, Since 1853, Flash Jordan, Nomination, Dan Jewellers, Alexander Davis, Ana Verdun and Muru. The KickStart stand was also a joy to behold! Thank you to those who stopped by at the Jewellery Focus stand, and for all of the amazing feedback that we received from readers and advertisers alike. I hope that we continue to meet your needs going forward. We have several plans in the pipeline for improvements and additions… so watch this space!

Jewellery Focus ISSN 2046-7265 is published monthly by:

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Jewellery FOCUS

This month’s cover features TRESOR PARIS

Situated in London’s famous Hatton Garden jewellery quarter, and renowned for its diamond expertise under the master jeweller, Hasbani Group, Tresor Paris is forever expanding, with countless collections suiting both men and women. At last month’s IJL event, the brand launched its new ISL Watch collection, with further luxury additions set to be added later in the year. “Also soon to be launched is the magnificent and contemporary Tresor Diamond collection, using brilliant-cut diamonds and precious stones of the highest quality,” the brand adds.

October 2012

www.jewelleryfocus.co.uk

£5.95

ISSN 2046-7265

FOCUS

Deck the shelves Preparing for this year’s Christmas sales season Why buying gold can still be a lucrative business strategy for the jeweller

Brand ambassadors: harnessing the power of the celebrity to boost sales

Information: www.tresorparis.com

October 2012

CONTENTS

Jewellery FOCUS

October 2012 FEATURES Presenting: his and hers gifts

Party time

Focus on packaging

Celebrity culture

Scrap gold

Callum Gildart compiles a selection of jewellery pieces that are sure to put a sparkle in the eye of both angels and wise men this Christmas Prepare for Christmas and New Year with this selection of cocktail rings, designed to add a touch of glamour to your customers’ party outfits Callum Gildart takes a look at some of the packaging options that are available to add an extra special touch to Christmas gift purchases, and in some cases to enhance your brand identity Marc Woodall, general manager of the Watch Hut, discusses the ways in which retailers can harness the power of the celebrity to boost sales

For this month’s focus on the changing gold market, industry representatives discuss the continued popularity of trading in unwanted jewellery, and the options available to jewellers who are now looking to take advantage of this trend

REGULARS Roundup

The latest news from the industry

Letters to the editor

Face to a name

Three more readers call the industry to arms over the insurance claims issue, first raised in Jewellery Focus in July Get acquainted with new and existing industry representatives

Michael Hoare

Watch focus

Trends in timepieces Phil Withington, senior valuer for the Birmingham Assay Office’s SafeGuard division, explains how he applies his knowledge on a daily basis

Taking stock

Selling

Industry data

Voice on the highstreet

Inspired by her eccentricities, curiosity and passion for craftsmanship, Anna Faine’s jewellery is winning many fans, as Louise Hoffman discovers

A day at the Office

Having predicted a relaxation of Sunday trading laws to follow the temporary measures introduced during the Olympics, Michael now speaks out about the very real possibility of de-regulation

Designer of the month

New offerings from the industry

31 40

Brad Huisken encourages sales professionals to confidently ask their customers for the sale, having recognised the buying signs

Beth Raffle of Syoki Jewellery, Braintree

ROUNDUP

In brief COO of Alfred Terry steps down

Nick Kasler, chief operating officer of Alfred Terry Limited, has announced that he is to leave the company for personal reasons. Nick has been at the north-Londonbased jewellery company for over 18 years, steering it through a management buy-out followed by a sustained period of growth. He was the instigator of the sale of the company to the Gitanjali Group in October 2011 and has since led the company’s rebrand and programme of product launches. Ex-vicechairman of the BJA, and long-time member of the BJA’s National Committee, Nick intends to remain in the diamond and jewellery manufacturing industry, using his expertise gained over 34 years to offer advice and consultancy.

‘E-crime’ costs retailers £205 million a year

The British Retail Consortium’s (BRC) first study into crimes that accompany e-commerce estimates the total cost to retailers in 201112 was at least £205.4 million. ‘E-crime’ is seen as the biggest emerging threat to the retail sector as the UK’s e-commerce continues to grow at a rapid rate. In proportion to the total value of sales, e-crime is twice as costly as overall retail crime. Personalidentification-related fraud was the most costly e-crime to retailers, and retailers were also estimated to have lost £111.6 million to e-crime as a result of genuine business being rejected because of crime prevention measures. Director general of the BRC Stephen Robertson said: “Online retailing has the potential for huge future commercial expansion, but the Government and police need to take e-crime more seriously.”

F Hinds and IJL competition winner announced

F Hinds and International Jewellery London (IJL) announced Marie Taylor as the winner of the Student Design Category of the High Street by Design 2012 competition. Marie from Truro, who is studying at Truro and Penwith College, won the competition with her pendant design, ‘Pearl of Life’. Marie’s piece was unveiled at IJL with a press champagne reception on day two of the event.

Government to support SME apprenticeships following review

The Government has responded positively to a report looking into ways of encouraging small and medium sized businesses (SMEs) to take on more apprentices. Jason Holt, chief executive of Holts Group, was commissioned to produce the report by the education and business secretaries after the Government committed to asking an SME employer to investigate measures that should be taken to give firms greater controls in the apprenticeship system. Mr Holt concluded, after conversing with SMEs, that better resources and training through support are necessary if businesses are to improve and increase apprenticeship schemes. “Whilst apprenticeships offer undoubted growth opportunities for businesses, not enough SMEs are taking advantage,” Mr Holt remarked. “This is because they have an outdated view of apprenticeships, are often in the dark, and frequently do not receive the specific training provision their apprentices need.” Government working with lawyers and accountants that advise SMEs is one of the measures that will be brought in to help businesses. Transparency issues will also be addressed, meaning that provision of information on apprenticeships will be improved and communications will be enhanced. As well as this, training providers will agree to new standards; the Apprenticeship Grant for Employers will be simplified; and companies will be given more control over the development of skills. Jason Holt’s review can be viewed online at: www.bis.gov.uk/assets/biscore/further-educationskills/docs/m/12-891-making-apprenticeships-more-accessible-to-smes-holt-review.pdf

De Beers moves aggregation of worldwide diamond production to Botswana After almost 80 years in London, De Beers’ aggregation of diamonds has moved to Botswana. The move, made two months ahead of schedule, marks the delivery of the first phase of the migration of De Beers’ sales activities to Botswana. De Beers and Botswana’s sales agreement is the longest sales contract ever agreed between two partners. All of De Beers’ sights and sales operations will move from London to Gaborone over the next year. By the end of 2013 De Beers hope to sell aggregated production of its worldwide operations to sightholders, helping to further transform Botswana into an international diamond centre. With the establishment of De Beers’ aggregation in the country, it is estimated that around $6 billion (£3.82 million) worth of diamonds will flow through Botswana. Botswana’s vice president and minister of minerals, energy and water resources, Dr Ponatshego H K Kedikilwe, said: “This is a key milestone for the diamond industry in Botswana. By shifting the centre of gravity of the diamond world here, we are bringing in more economic activity, more skills and more broad-based business opportunities to the country. We are also growing our international profile and establishing the kind of platform that all economies need for sustainable growth and diversification.” CEO of the De Beers Group Philippe Mellier added: “As De Beers shifts more and more of its sales operations to Botswana over the next year, we will solidify the long-term future of the partnership and work to transform Botswana into one of the world’s leading diamond trading and manufacturing hubs.” Image: Rough diamonds from Debswana mines (courtesy of De Beers).

Abu Hamza’s son jailed for his hand in armed robbery

Two armed robbers, including the son of radical Islamic cleric Abu Hamza, who carried out a raid in a Norfolk jewellery store in January, have been jailed. Hamza’s son Imran Mostafa and Jonathon Abdul were filmed carrying out a smash and grab raid on Francis Wain jewellery shop in King’s Lynn by an off-duty local press reporter. Mostafa and Abdul were found guilty of robbery and possessing a firearm, after two other men had already pleaded guilty to the same charges. A total of £83,000 of gems were stolen during the robbery.

October 2012

Jewellery FOCUS

ROUNDUP

Sector workers called upon to help shape Fairtrade and Fairmined gold standard review

The Fairtrade Foundation and its partner the Alliance for Responsible Mining (ARM) are to review the standards which govern the certification for Fairtrade and Fairmined gold. By using experience and knowledge gained since the product first went on sale last year, the review will see adjustments made to the existing standards. The standards will be extended beyond South America to both Africa and Asia to widen the opportunities for disadvantaged miners and for commercial partners offering products made from certified metal. Public consultation on the standards will take place until 7 October. Interested parties can visit www.fairtrade.net/standards or www.communitymining.org to review the amendments and, if they see fit, provide feedback on the standards. Any questions that do arise can be emailed to gold@fairtrade.org.uk Fairtrade and Fairmined certification for gold proves to retailers and consumers that artisanal and small-scale miners are getting a fair deal and that responsible mining practices have been used. Image: Miners at Cuatro Horas mine in Peru, by Eduardo Martino.

Brown & Newirth rewards Holts Academy design talent in honour of its 45th year Bridal and commitment ring manufacturer Brown & Newirth London has partnered with Holts Academy to give emerging jewellery designers a chance to become part of its 45th anniversary celebrations. Designers from the Holts Academy were asked to take inspiration from the events of 2012, such as the Diamond Jubilee and Olympic Games, to produce pieces celebrating Brown & Newirth’s anniversary. The shortlisted designs were officially launched at the International Jewellery London show. “This year we began what we hope will be a long-term partnership with Holts Academy. We are entering into an apprenticeship scheme with Holts Academy, working with two of their students at our factory in Hatfield, and we are also sending our own staff to do training at Holts – particularly in the field of CAD design,” said sales director at Brown & Newirth, John Ball. “We want to invest in the future of British manufacturing and design and we are delighted that Holts Academy is providing training and apprenticeship schemes dedicated to the jewellery industry.”

Celebrity endorsement

George Michael wears Buddha to Buddha George Michael wore a Buddha to Buddha bracelet during his performance at the closing ceremony of the London Olympics. The former Wham! frontman wore a silver ‘Bianca’ bracelet from the brand’s collection of over 200 items of jewellery. Each piece of Buddha to Buddha jewellery is crafted in sterling silver by Bali-based artisans. Amanda Hart, marketing manager of Fable Trading, the UK’s sole distributor of Buddha to Buddha, said: “We were absolutely delighted to see George wearing a Buddha to Buddha bracelet during the wonderful Olympic Games Closing Ceremony. This is another high profile celebrity endorsement for the brand’s bold, timeless jewellery, which is becoming increasingly popular here in the UK amongst both men and women.” Pictured below is the Buddha to Buddha ‘Ben’ bracelet – a similar design to the piece worn by George.

Image: The 2012 Celebration by Magaly Trigalet-Dombasi.

The Maison completes workshop renovation In celebration of the renovation of its workshops, the home of Van Cleef & Arpels’ Mains d’Or, the Maison is offering a behind-the-scenes virtual tour of what it describes as “the centre of its reputation for excellence.” Van Cleef & Arpels is offering the 360 degree virtual tour of its workshops to web-users intrigued to see the heart of a Maison of High Jewellery’s creative process. Visitors to the Maison’s website can explore all of the workspaces and discover the different crafts of its jewellery making process. Additional content can also be accessed, such as gouaché designs of jewellery; photographs of Pierres de Caractère; selected creations; and the nine short films about Van Cleef & Arpels’ Mains d’Or, directed by Loïc Prigent. To see for yourself, visit www.vancleefarpels.com/ww/en/the-maison/782/ Virtual-tour-of-the-workshops

Jewellery FOCUS

October 2012

ROUNDUP

Diamond market

August began with the spotlight firmly on India as polished suppliers reduced prices during Belgium and Israel’s break. The rough markets became problematic as De Beers limited its supply by overpricing sights. Blue Nile’s 2Q sales were up 13 per cent to $91 million (£57.3 million), however profit was down 44 per cent to $1.6 million (£1 million). Trading became very quiet as concern about Far Eastern and Indian demand grew ahead of the Hong Kong and Mumbai shows. Rio Tinto’s 1H diamond revenue was up 12 per cent to $350 million (£220.4 million). Sarin Technologies’ 2Q revenue was up 16 per cent to $18 million (£11.3 million), with profits rising 31 per cent to $7 million (£4.4 million). US polished imports were down 15 per cent in June, and Belgium’s polished exports went the same way in July, down 20 per cent to $1.3 billion (£820 million). Belgium’s rough imports in July were down 45 per cent while Botswana’s June exports were down 51 per cent to $353 million (£222.3 million). Bucking the downward trend, Japan’s polished imports were up 28 per cent to $91 million (£57.3 million) in June. Global gold jewellery demand was revealed to be down nine per cent to $21.7 billion (£13.7 billion) in Q2. Hong Kong’s polished imports were down one per cent to $8.5 billion (£5.4 billion), and its exports were down seven per cent to $6.1 billion (£3.8 billion). Despite the first day of India’s IIJS show meeting its low expectations, the market remained concerned with prices. BHP Billiton’s FY’12 diamond revenue was down 30 per cent to $707 million (£445.3 million) while EBIT was shown to have declined 58 per cent to $224 million (£141.1 million) in the same period. Anglo American completed the Oppenheimer buyout of De Beers. As August drew to a close, demand remained steady for lower quality diamonds, although demand for better quality stones stayed weak. Tiffany & Co revealed its 2Q revenue was up two per cent to $887 million (£558.7 million) and that its earnings were up the same amount to $92 million (£58 million).

Images: Monnickendam Diamonds

October 2012

Image: Sasha Lezhnev/Enough Project

Passing of ‘conflict’ mineral rule could have impact on trade

The Securities and Exchange Commission (SEC) of the United States has voted to implement the ‘conflict’ minerals provision of an act that requires companies to determine and disclose if they use minerals that benefit armed groups in central Africa. The passing of the Dodd-Frank Act means that publicly traded companies must endeavour to find out and reveal if they have used, or continue to use minerals, including gold and tungsten, that originated in the Democratic Republic of Congo (DRC) or one of nine neighbouring countries, and financed or benefited militia there. Under the provision, if a company is aware or has reason to believe that its minerals weren’t obtained from one of the countries mentioned, or are from scrap and recycled sources, then it must disclose its conclusion to the SEC; describe the inquiry it undertook to obtain the information; and post the inquiry on its website. If a company knows or suspects its minerals may have originated from one of these countries, however, it must undertake ‘due diligence’ on the source and its mineral chain of custody and file a Conflict Minerals Report. The Conflict Minerals Report involves obtaining an independent private sector audit and then disclosing publicly if minerals are DRC conflict-free or not. Bigger companies will be given a period of two years (four years for smaller companies) to state that the origin of their minerals is undetermined while they trace their supply lines; whilst companies without direct control over the manufacturing of their products are exempt from the regulation.

RJC recognises the Dodd-Frank ruling The Responsible Jewellery Council (RJC) stated its recognition of the final rule for DoddFrank Section 1502 on conflict minerals and went on to encourage the use of RJC Chain-ofCustody (CoC) certification for gold sourcing. RJC believes that the release confirming the implementation of the US Security and Exchange Commission’s (SEC) Act now turns the attention to the role of industry programmes in supporting compliance. After reviewing the Section 1502 final rule, the RJC doesn’t anticipate any changes to the CoC standard will be necessary at this time. The Section 1502 rule explicitly recognises the Organisation for Economic Co-operation and Development (OECD) Supplement on Gold as an internationally recognised due diligence framework for fulfilling Dodd-Frank conflict mineral requirements. RJC’s CoC standard is aligned with the OECD Guidance and the RJC has recorded webinars available on its website to assist supply chain participants. Analysis of the Section 1502 rule shows that the types of gold (mined; recycled and scrap; and existing stocks) sourced by companies have specific disclosure and due diligence implications, each of which can be met though use of RJC’s CoC standard. All gold transferred by RJC CoC Certified entities is ‘DRC conflict-free’ as defined by the Dodd-Frank Act. To support ‘reasonable country of origin inquiries’, information on whether gold-bearing shipments contain mined, recycled, and/or existing stocks is provided to customers of RJC CoC Certified businesses via CoC Transfer Documents. If any gold originated in, or was transported through, the DRC and adjoining countries, all CoC Transfer Documents for that gold must continue to identify the country or countries of origin, along with the refiner/s. A conflict-free declaration is provided, which assures customers that due diligence in accordance with the OECD Guidance has already been carried out to confirm that the gold did not finance or benefit illegal armed groups. Under the Section 1502 rule, existing stocks and inventories of gold are considered ‘outside of the supply chain’ before 31 January 2013, and are exempted from its application. RJC’s CoC standard adopts the same cut-off date as the OECD Supplement on Gold – 1 January 2012. RJC believes that, in essence, the 13-month difference shouldn’t be too difficult for companies to manage, for companies sourcing gold between the dates under the RJC CoC standard will have their receipt of CoC gold reliably represented by CoC Transfer.

Jewellery FOCUS

October 2012

ROUNDUP

Celebrity endorsement

Tennis ace Azarenka becomes Citizen brand ambassador The current number one player on the Women’s Tennis Association (WTA) Tour Victoria Azarenka has joined Citizen as its latest international brand ambassador. Fresh from her gold and bronze medal winning performances at the London Olympics, Azarenka was identified as the perfect fit for Citizen’s ‘Unstoppable’ campaign. Ms Azarenka remarked: “I am delighted to join the team of international Citizen Eco-Drive brand ambassadors. I admire Citizen’s commitment to the international sport of tennis. I also admire Citizen’s watches. The wide range of watch designs means that I can always find something to fit the moment, whether sporty or dressy; and their commitment to the environment with their Eco-Drive light powered technology makes me feel good when I wear them.” Image: Victoria Azarenka, wearing one of Citizen’s latest watches from the autumn/winter collection, with the president of the Citizen Watch Company of America, Jeffrey Cohen.

October 2012

River Mounts celebrates PGI Award success

River Mounts Jewellery scooped Platinum Guild International’s (PGI) ‘Platinum Trail’ Consumer’s Choice Award at the recent International Jewellery London (IJL) event. The aim of the Consumer’s Choice Award is to bring the consumer to the heart of platinum design. River Mounts’ ‘Peka’ tri-set was one of five designs nominated for the award, and received nearly twice as many votes as the other entries. Design and operations manager Manoj Parmar commented: “The design is brand new and to get such recognition from consumers as well as the judges on the Trail is really exciting.” Designer of the tri-sets, Kelly Jenner, added: “We turned the design around really quickly and, while we thought it was going to work, you never really know how it’s going to be received. To have such a response from the judges who have such expertise was breath-taking. We’re really looking forward to next year’s Trail.”

byBiehl chosen as ‘Inspirational Awards’ charity jewellery Danish jewellery company byBiehl has been chosen as the charity jewellery for the Inspirational Awards. Held every year in London and Los Angeles, the Inspirational Awards is an event celebrating inspirational women from all walks of life. The Inspirational Awards is also a charity event and raises money for the research and treatment of breast cancer through organisations Breakthrough Breast Cancer and Susan G Komen for the Cure. “We find both byBiehl and Charlotte Biehl (byBiehl’s founder) inspirational, which is important for us in finding the right partners,” said a spokesperson for the awards show. Previous award winners include Michelle Obama, Adele, Kate Winslet, Kylie Minogue, Sandra Bullock, Annie Lennox and Lady Gaga. Charlotte Biehl will attend both the London and Los Angeles award shows to present a pod designed to commemorate the event. The design of the pod, entitled ‘Inspirational’, is based on the Inspiration Awards logo and is made with silver and light pink zircons.

Trollbeads announces UK winner of ‘People’s Bead’ competition Carolyn Brettell has been announced as the UK winner of the Trollbeads ‘People’s Bead’ competition 2012. Fitness instructor Carolyn, of Dorset, celebrated winning the competition at her local Trollbeads stockist in Yeovil. Her winning design, entitled ‘Feather’, is based on the idea of spiritual ascension and freedom. Carolyn was presented with an 18 carat gold version of her winning bead design by Trollbeads agent Kim Bartlett and proprietor of her local jewellers Anthony White, during the launch of Trollbeads’ latest collection. After discovering a feather on an early morning walk with her dog, Carolyn was inspired to enter the competition. She took the feather home, wrapped it around a tube and made a sketch. “When I found out that my Feather bead was one of the winners, I was speechless,” Carolyn remarked. “All I’ve ever wanted to be is an artist. To me a feather is a sign from the spirit world, and my Feather winning was a signal that pursuing my art this year was the right direction for me to be taking! “I love Trollbeads; they’re like mini works of art you can keep with you every day. Wearing a piece I have designed is going to be amazing!”

Jewellery FOCUS

October 2012

Letters to the Editor

Dear Editor, I have just read the Letters to the Editor section in the September issue. I have to say I could not agree more with the comments made by the contributors. We face the same up-hill struggle with insurance companies and fobbing customers off with lower cash settlements or LMG cards, neither of which are satisfactory one-size-fits-all solutions. As far as I can see there is no other industry where such practices can go on legally. They are basically hedging on the risk the item does not go missing or is not damaged, but unlike most hedges they stand to lose very little in actual fact. After receiving years of ever-increasing premiums, they go on to recoup the rest of the claim value via the back door, through costs levied for not taking their preferred settlement type, excesses and discounts given by suppliers. In most cases they pass the claim on as quickly as possible to save themselves the hassle and costs of having to deal with the claim. After having passed the claim on to a middle man, the customer is forced down the route of replacing through the high street chains. These may carry a wide choice of goods, but much of it bears no resemblance in style or quality to the sentimental piece that was so treasured. Many I am sure will happily replace through ignorance, but there are still those who wish to replace elsewhere with finer quality goods sourced or made by people who care. These customers face the painful process of banging their head against the wall until the claim is finally settled, often with a cash payout. Many customers in these austere times will come in seeking a discount/ deal on a purchase, but most insurance customers do not do the same when dealing with their own claims. It’s the ‘white coat syndrome’; they feel they should just accept the response they are given and be grateful for the settlement they receive, not understanding that this is what they have paid many years of premiums for. Like P Arnold, I have made it my mission to ensure that all of our customers dealing with insurance claims understand that they should under no circumstances take the first offer they are given and should make their own decisions about where they want to shop, just as they would if the cash was their own… which it is! I for one would support any issues you may wish to raise with the Insurance Ombudsman on behalf of your readers. Matthew Peters The Jewellers Guild, North East

Dear Editor, In regard to the issue of jewellery insurance replacement scams, I believe the only way to get our business back is to get all of the independents on board (please do email me to let me know of your interest). Once we have a strong list, we can then set up a committee, and approach the Ombudsman as a group, to change the way that insurance companies do business so that their policyholders are easily able to go to their own jewellers. The insurance companies or their agents can then make an arrangement with the policyholders’ chosen jewellers – I would suggest a discount of 10 per cent maximum ; this is the most I have ever offered. Jewellery is very different to, say, a camera, and we need to tell them why. They don’t understand that independent jewe llers have built up their own customers after many years of hard work, and are having their business taken away from them. Meanwh ile, the policyholders are very upset that they have to go elsewhere to a third party, whic h is normally an office or a representative who visit s their home with a catalogue! We can work together on this, and if they will not listen then as a group we can go to the press and the media to advise the public what is going on and open a real can of worms. I am sure every jeweller can get proof in writing from at least two of their customers to strengthen our case. We all talk; we all moan; we all do nothing. I tried to take action a few year s ago, but I need support. ENOUGH IS ENOUGH – LET’S GET OUR BUSINESS BACK! Barry Wayne

Managing director The Precious Metal Exchange Ltd/ Bespoke Jewellery sales@bespokestalbans.com

Dear Editor, I read with great interest the articles concerning insurance replacem ents and the issues jewellers face in servicing their respective clientele, following intervention of loss adjuster s appointed by insurance companies. Certain of our regular customers have been informed by interme diaries, appointed by the principal insurers (as has been the case with your readers), that their replacement jewellery could only be channelled through the ‘network’ of jewellers, apparently approved by the insurers, but recomm ended by the intermediaries. It therefore follows that the intermediary’s statement to the insured that they act independently, to validate the claim, is a very misleading statement, particularly where the intermediary stands to benefit by retaining any part of the proceeds of the assessed claim value. It is therefore clear that the intermediaries are not acting in their independent capacity and thereby, through this practice of imposing upon the insured to make their selections only from within the confines of such ‘network’ partners, are unfairly controlling the supply of replacement jewellery business. In such event, I feel sure that there would be an overwhelming response from jewellers across the country to support a call for the FSA to seriously consider the merits of such concerns and investigate the practice by such intermediaries. It would not be unfair to call for the FSA to rule it illegal for insurers and, more particularly, the intermediaries, to impose any conditions upon the insured, such that the insured is disadvantaged by being compelled to use the services of the ‘networked’ jewellery supplier only. The FSA may also find it interesting to perhaps consider investigating ‘settled’ claims in order to ascertain our averments that this has been and continues to be a common practice. I feel confident that this proposal would be very well received by the jewellery trade, who in such difficult trading conditions are faced with such unfair practices imposed by the insurers. I am also of the opinion that with sufficient support from the trade, the FSA could be convinced that a code of practice is necessary, to ensure a level playing field, wherein the remit of the FSA to ensure that the consumer is not disadvantaged is achieved and fairness restored. I would also be very keen to be part of a group of jewellers that could collectively progress this matter to a stage where the authorities, in particular the FSA, are compelled to take corrective action and bring about a fair trading situation for all traders, rather than a selected few. We have customers who have agreed to provide statements to back the discussions, and such statements from other jewellers who have found themselves in a similar situation may help to highlight the gravity of the situation . The quest for a fair trading condition continues. Harish Raniga PureJewels

October 2012

Jewellery FOCUS

October 2012

face to a name

Three minute

interview

Face to a name Get acquainted with new and existing industry representatives

Elizabeth Metalinou, director of River Mounts Jewellery Ltd

Describe yourself in three words

Ambitious, dedicated, hard-working.

When you were at school, what did you want to be and why?

I have always wanted to start a business because I like the challenge of starting something from nothing and making it successful.

How did you get to be where you are today?

From a business point of view: through the loyal support of our customers, and a strong, solid team behind me that provides a lot of backup (a special thanks to my colleagues at the London Trade Counter; they have worked exceptionally hard and have achieved a lot over the past year). From a personal viewpoint: a lot of hard work; focusing intently on one thing; persistence; and never taking no for an answer!

Which aspects of your job do you most enjoy and why?

Selling and serving customers is the part I enjoy most. But meeting new people, growing the business and always trying to achieve more excites me too.

What is your proudest achievement? Creating a friendly work environment in which every team member is valued and really wants to come to the office, work hard and support our customers.

What is the best advice you’ve been given in life or work? You can always get what you want if you have the required skills and work hard enough.

What is your next goal in life?

To continue to grow River Mounts into an even more recognisable company in the UK market, building on the respect we have already built up, and to offer our customers industry-leading value for money.

October 2012

Chamilia appoints Michael Flaherty as chief executive officer Chamilia has announced that Michael Flaherty has been chosen to lead the brand as its new chief executive officer. An established jewellery industry professional with more than 20 years of experience in business development, product development, strategy and leadership, Flaherty previously held the roles of EVP, chief business development officer and board member for the rapidly growing brand. “Michael Flaherty holds a special ability to see what others do not. His efforts over the years have best positioned Chamilia for future growth,” said chairman of the board and co-founder, Jeff Julkowski. “Placing Michael in our leadership position represents the board’s confidence and trust in his skills and experience to continue to bring innovation and success to our global brand.” Flaherty has been a driving force behind the rapid global growth of Chamilia in the past five years. He spent time working internationally, opening offices in the UK and Australia, while building a strong partnership with Swarovski.

Stacy Simpson joins IJL team

A new marketing executive has joined the International Jewellery London (IJL) team. With a background in the jewellery industry, Stacy Simpson worked with the National Association of Goldsmiths (NAG) as a communications officer for over four years, attending four IJL shows in this role. “I am extremely excited about the challenge my new role will bring,” she commented. “Having prior knowledge of the jewellery industry, I hope I can utilise this within my new role and relate to the issues affecting the industry as a whole.” As a new core member of IJL’s marketing team, Stacy will contribute to a wide variety of marketing activities.

Jewellery FOCUS

face to a name

Marcus Benelli Unique Jewelry makes new joins Charles appointment Green team Wedding ring manufacturer Charles Green has announced the appointment of Marcus Benelli as sales account manager for the north of England and Scotland. Sales director Oli Sutton said of the appointment: “Marcus will undoubtedly be a huge asset for Charles Green, and when I heard he was considering returning to the fine jewellery market, we moved very quickly to sign him up. He has a wealth of experience which will be extremely valuable, but most of all Marcus has a real passion for quality jewellery, and keeping manufacturing here in the UK.” “I am thrilled to be joining Charles Green,” Marcus enthused. “It will be a privilege and an honour to represent the finest wedding ring manufacturer in the UK.”

Paul Connolly has recently joined Unique Jewelry to head up its sales team and develop new business, as well as to continue building up its existing account base. Bringing with him the knowledge and experience gained from his six years working for Aagaard/Lovelinks and contributing to its UK business, Paul will help Unique Jewelry to develop its new sales in jewellery and watches yet further. “I’m settling into my new position and look forward to seeing future and continued growth for Unique Jewelry collections and its watch brand Festina, along with the newly appointed Swiss brand of Candino watches,” said Paul. “I hope this is another success story in the jewellery and watch trade, for both Unique Jewelry and myself, and look forward to meeting everyone selling Unique Jewelry.”

Gemfields announces senior management appointments Gemfields Plc has announced the promotion of Mr Devidas ‘Dev’ Shetty from the position of group chief financial officer to group chief operating officer. In his new position, Dev will be responsible for providing operational direction and support to the respective business heads of each of the group’s operating divisions as they continue to focus on profitability, operating efficiency, resource allocation and delivery. Dev joined as group CFO of Gemfields in 2010 and has since been instrumental in the turnaround of the group, improving the cost structure and tax profile, and implementing key strategic and operational decisions. Meanwhile, chartered accountant Mark Summers has joined as new group CFO, but has not yet joined the board of directors. He holds 18 years of experience in financial roles in various auditing, mining and financial institutions. Commenting on the appointments, Ian Harebottle, CEO, said: “As Gemfields continues to grow and develop, various changes are required within the group to ensure that we remain well positioned to manage our momentum. To this end, changes have been made to strengthen the management team and I am confident that these new appointments will support Gemfields’ ability to deliver on its current growth plans.”

Jewellery FOCUS

BRC makes new leadership appointments

The British Retail Consortium (BRC) has introduced two new members of its leadership team. The organisation’s new chairman will be Ian Cheshire (pictured top right). He takes over on 1 October 2012 from current chairman Rob Templeman and will serve for two years. Ian Cheshire is a major retail industry figure. He has been the group chief executive of Kingfisher Plc since January 2008 and an executive director since June 2000; and a non-executive director of Whitbread Plc since February 2011. He serves as a lead non-executive member at the Department for Work and Pensions, and is a member of the Corporate Leaders’ Group on Climate Change and a member of the Employers’ Forum on Disability President’s Group. In order to provide continuity, Rob Templeman (pictured bottom) has kindly agreed to stay on for a further year in the role of deputy chairman. Lucy NevilleRolfe, who has served with distinction as BRC deputy chairman, is stepping down at the BRC’s next board meeting. Lucy has been appointed president of EuroCommerce in Brussels (where the BRC is an active member). Meanwhile, the BRC’s new director general is to be Helen Dickinson (pictured top left). She formally takes over the post from Stephen Robertson on 1 January 2013. Helen has over 20 years’ experience at KPMG as UK head of retail and audit and relationship partner for many retail businesses. She is also a highly regarded media commentator on developments in the industry. She is a founder member and chair of the KPMG/Ipsos Retail Think Tank, which meets quarterly to assess the state of the sector through the Retail Health Index and to consider issues that are of relevance to retailers through regular white papers.

October 2012

Christmas Gifts

Presenting:

his and hers gifts

Callum Gildart compiles a selection of jewellery pieces that are sure to put a sparkle in the eye of both angels and wise men this Christmas

21st Century Silver

21st Century Silver’s elegant sterling silver heart earrings would ensure a bright start to Christmas day. The attractive design is complemented by a delicate faux pearl finish. Tony Greene of 21st Century Silver remarks: “We’re delighted to find that our silver jewellery sales are increasing steadily, proving that if the designs are right, they will sell through.” A matching pendant is also available.

Hazel Atkinson Jewellery LLP

Information: 0208 339 3731 or info@21stcenturysilver.co.uk

From the vibrant Seed Pod range of anodised aluminium jewellery from Hazel Atkinson comes the Seed Pod bangle, which will no doubt be a perfect gift this Christmas. The hallmark intricate pattern of Hazel’s Seed Pod bangle comprises purple, orange, lime green and red colours, and will brighten up any winter’s day. Information: 0115 941 1110 or www.hazelatkinsonjewellery.co.uk

Jeremy Hoye

Jeremy Hoye is a luxury brand that has been shaped and sculpted over the last 18 years, producing contemporary, cutting-edge collections. From the ‘Woodland Creatures’ collection of silver and gold-plated jewellery inspired by the fairytale world of the forest comes this ring, which is described as “perfectly autumnal” and features a miniature deer, squirrel and toadstool. Jeremy is a firm believer in not following trends, in order to ensure that the pieces are treasured forever. Information: 01273 777 207, trade@jeremy-hoye.com or www.jeremy-hoye.com

Tresor Paris

This Christmas, Tresor Paris aims to further spread its sparkle by offering its new 10 millimetre white crystal, pearl and stainless steel PVD white plated bracelet (reference 018923). From the Neptune Collection, the bracelet and its white pearls and crystal spheres add a luxurious feel to the wrist. Tresor Paris recommends that your customers tie it in a bow and place it under the tree for their loved ones this Christmas. Information: www.tresorparis.com

October 2012

Jewellery FOCUS

Christmas Gifts

Muru Jewellery

Part of the new Autumn/ Winter ‘Talisman’ collection, which features motifs from both modern-day life and ancient mythology, comes the Hamsa necklace. The Hamsa is a palm-shaped amulet recognised for its powers of protection and qualities for repelling the evil eye. The symbolic charm comes complete with luxury packaging and an individual gift card that explains the meaning of the design. Each piece of the collection is designed in the UK at Muru’s north London studios.

Curteis

Curteis’s new sterling silver circular bracelet encases pale pink Swarovksi pearls. The bracelet has been made with a fresh design of fitting, which adds a contemporary edge to the range. The collection also includes a necklace and subtle pendant. Information: 0800 195 6771, info@curteis.com or www.curteis.com

Information: 0208 245 1920 or www.murujewellery.com

Mirpuri

Jewellery brand Mirpuri offers this pendant from its new collection, Fuego, which premiered at this year’s IJL. With fuego being Spanish for fire, the pendant is inspired by the mesmerising silhouettes of hot and cool flames and is made from 18 carat vermeil. The Fuego collection itself comprises both 18 carat vermeil and sterling silver ranges, and incorporates faceted Swiss blue topaz and rhodolite garnet marquise stones. Information: trade@mirpurijewellery.com or www.mirpurijewellery.com

Farah Qureshi

Contemporary jewellery designer Farah Qureshi believes that jewellery makes the perfect Christmas present, and with that in mind presents these earrings from her Lady L collection. Inspired by a painting of Lady Lavery, the earrings incorporate a tear drop design – a theme which runs throughout the collection. The colours of the earrings, and indeed the collection, have been chosen to reflect the dress that Lady Lavery was wearing. Information: 0208 568 0326 or farahsjewellery@yahoo.co.uk

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October 2012

Christmas Gifts

Jewel Mechanic

The ‘Tread On It’ ring comes from one of Jewel Mechanic’s most successful lines at the recent IJL event. Pictured here in silver, the ‘Tread On It’ ring is available in 10 different designs. Stockists are able to obtain each design in any metal and any size. Information: 0118 933 3332, paul@jewelmechanic.com or www.jewelmechanic.com

Outstanding Cufflink Designs

Outstanding Cufflink Designs, or OCD, is a brand created by experienced goldsmith and designer Lee Graham, whose passion for innovation and detail has resulted in a unique collection of sculptural cufflinks. From OCD’s unique collection comes the award-winning Volute coil cufflink, made in 925 sterling silver and complemented with black rhodium plate and 18 carat rose gold. Information: www.outstandingcufflinkdesigns.co.uk

Chris Hawkins Jewellery

Cufflinks are a perennial Christmas favourite for the discerning man who has everything. With this in mind, Chris Hawkins Jewellery offers its ‘Fox and Rabbit’ cufflinks. With a detailed design that captures two symbols most closely associated with the British countryside, the cufflinks make the most of en vogue woodland imagery to create an ideal gift for the dapper chap. Information: 01273 554 632 or chris@chrishawkinsjewellery.com

Skulls and Orchids

Skulls and Orchids’ Skulpt Bangle was created by designer goldsmith Steven Dennis. To create the piece, Steven handcarved two skulls from sterling silver before mounting them on a heavyweight sterling silver bangle. The Skulpt Bangle is designed to sit perfectly on the wrist and achieve a strong, bold look. Information: info@somjewellery.com or www.somjewellery.com/skulls_and_orchids.php

October 2012

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October 2012

Cocktail rings

Party time With Christmas and New Year celebrations just around the corner, customers will soon be on the lookout for glamorous statement jewels to accessorise their outfits

So Jewellery’s new Rainbow Rings are made of silver and coated with durable tempered glass in a variety of eye-catching colours. There are also two styles to choose from – smooth or faceted. “Stunning in their simplicity, these limited edition rings are set to be the show pieces of our collection, offering customers a variety of choice in both colour and contemporary appeal,” says sales and marketing director Emma Finney.

The Rocktail Collection by Amara Amara is a development of the cocktail ring range, for those who love their big rocks! One of this season’s favourites is the large smoky topaz Rocktail ring. Smoky quartz is said to transform negative energy, and to form a shield against negative energy around the user. The large smoky topaz rock is hand-set in 18 carat gold vermeil and is designed to make the wearer stand out from the crowd!

Information: 0208 892 7000 or www.sojewellery.co.uk

Information: www.amaraamara.com

The Carat* Cocktail collection embodies the essence and style of the cocktail party era of the 1920s and 30s. The collection utilises rich materials and techniques that were popular in the era, including exotic black gold, platinum-plated sterling silver, rose gold and intricate pavé, as well as the brand’s uniquely created gemstones. Information: www.carat.co

October 2012

Jewellery FOCUS

Cocktail rings

Pictured here are three designs from Amber Jewellery’s Autumn/ Winter 2012 collection. In line with this season’s vintage trend, the first design (above) is all about over-sized glamour and adding a little extra sparkle to the hand. Meanwhile, the dazzling spike rings allow wearers to let their inner rock goddess out with the on-trend punk look; and with the animal-themed designs, such as this fashionable feline piece, they can express their wild side. Information: 0161 736 9966, sales@amber-jewellery.com or www.amber-jewellery.com

New nine carat gold cocktail rings from Elements Gold’s 2013 collection are statement pieces designed to dazzle at any occasion. The brown smoky quartz and diamond pavé ring is bold and eye-catching, with brown rhodium detail to set off the sparkling stones; the classic design of the honey citrine ring showcases the stone in two cuts with black rhodium detail and diamond-set shoulders; and the citrine ring features a cushion-cut citrine in a modern, clean setting with diamond pavé on the shoulders. Information: 01376 532 000 or sales@geckojewellery.com

A trained gemmologist, Mara Hotung draws her inspiration from observing nature and her surroundings. She also looks to the past; particularly jewels from the 40s and 50s. “I like designs that are classic and timeless. I want my creations to be remembered not only for their unusual stones or colour combinations, but also their simple designs and dual function.” The Aqua cocktail ring collection comprises rings set in 18 carat gold with a rutile, rose quartz, amethyst or chalcedony centre stone. Also pictured is the Tahitian black pearl ring with moonstone surround. Information: 01753 839 425 or www.marahotungjewels.com

Jewellery FOCUS

Inspired by the epic scenery of places such as Marrakech, the Nile, Victoria Falls and the majestic palaces of India and Istanbul, Sushilla’s passion for natural beauty is reflected in her jewellery collections. The Tallulah collection includes bold and bohemian chunky cocktail rings, amongst other pieces, and features stones such as smithsonite, vessonite, rose quartz and the incredibly textural druzy in several colours. Information: 01993 706 703 or www.sushilla.co.uk

October 2012

Jewellery FOCUS

It’s a wrap

Focus on

packaging

As Christmas approaches, it is the perfect time to review your packaging designs. Callum Gildart takes a look at some of the options currently available

n his 1962 hit, legendary musician Bo Diddley claimed that You Can’t Judge a Book by the Cover. But something tells me he may have thought twice about buying his ‘baby’ a diamond ring (as mentioned in his eponymous debut single, and in subsequent hits such as Pretty Thing) if his chosen store presented it to him in a plastic bag. It may be what’s inside that counts (the clichés will stop here), but if a customer has bought an expensive piece of jewellery, it follows that they will want and expect to receive it in suitably luxurious and elegantly designed packaging. Indeed, attractive packaging can also add value to a product – especially important in the current economic climate, with consumers wanting to get the most for their money. However, even if the jewellery purchased is of the highest calibre,

Jewellery FOCUS

if it is received in a substandard container a customer’s impression of both the jewellery and its value will be negatively affected. And packaging does not only fulfil aesthetic and practical purposes for the customer; it can also be employed to grow a jeweller’s brand. Employing colour schemes, be it from the shop’s logo, signage or décor, is one of the first things to consider. This kind of unique packaging creates brand identity and recognition amongst consumers. Of course, jewellery packaging is at its most important when the item that is being purchased is to be given as a gift, and with Christmas approaching, investment in packaging could be one of the most significant festive preparations a jeweller can make. Come Christmas morning, your customers are going to want to be able to present the gift in a manner that reflects the thought they have put into it.

Established for over 40 years, Just Brothers & Co of London is a supplier of display boxes to the UK, also operating in export markets such as Europe, America and Australia. The company supplies a comprehensive range of products for all markets, from cardboard and plastic boxes to leatherette and leather cases, and from traditional boxing to modern, ‘trendier’ designs. Just Brothers also offers an extensive selection of wooden boxes, which come in different shapes and sizes, and are available in light wood and mahogany shades. The company’s featured Versailles Range, with a beech wood case and Coverlim inlay, is made to order in its factory. Custom-made packaging is Just Brothers’ speciality: “Our sales team, which operates throughout the UK and in parts of Europe, has many years of experience working with customers to produce boxes to their own specifications,” it says. Co-ordinating packaging with the style of a shop or boutique is important, and to ensure this can be achieved, Just Brothers also offers an array of display materials in modern PU, acrylic and velvet. The company states that its recent introduction of hand-made displays “gives customers the flexibility to



October 2012

It’s a wrap

change their displays easily and also allows them to add to existing displays, giving a whole new look to windows at a relatively low cost.” Talbots Group Limited provides a one-stop solution for the packaging needs of companies. Offering jewellery, gift and retail packaging, Talbots Group can also help companies with design and project management, manufacture and distribution. Talbots Group has recently launched a brand new website and catalogue and is actively promoting its new luxury packaging and display ranges, as well as its array of bespoke, handmade wooden and cardboard boxes. Projecting a professional image is essential if jewellers are to grow their brand image, as it equates to reassurance for the customer. The smallest details are often the ones that matter most in achieving this polished look, and companies such as Alltags Ltd are able to provide high quality labels to complement the product to which they’re attached. Shipping its products to more than 30 countries,

October 2012

Alltags offers a wide range of label styles, knowing that it is imperative for manufacturers, wholesalers and retailers alike to make the best first impression possible. Presentation is crucial for jewellers, and Alltags points out that it makes no sense to use inferior quality packaging and labels that will serve only to detract from the aesthetics of the merchandise. Described as “always looking like they were printed yesterday,” the durable tags can withstand ultrasonic washes of up to six hours, and the product range is suitable for use with the majority of thermal transfer printers available today. Complete printing solutions are also offered inhouse by Alltags and achieved using Sapphire Label Printers. Packaging is all about creating the right impression with a finishing touch, and a professional way to do so is through the employment of gift 1) 2) 3) 4)

wrapping. Meanwhile, personalised gift wrapping is one of the many ways to incorporate branding. In-store gift wrapping specialist Something Classy has recently announced the introduction of ECO Tissue, a premium quality 22G product that can contain a name or logo in a variety of colour ways, from as little as six reams. The acid-, lint- and chlorinefree tissue is produced under FSC accredited conditions and is available from stock for next day delivery (plain white version). The latest addition to Something Classy’s extensive collection of counter rolls is an exclusive range of doublesided 80G coated papers. One side is printed with a high-gloss ‘UV Varnish’ finish, with a choice of red, black, purple, burgundy, taupe or gunmetal colouring, and the reverse is printed in matt gold or a co-ordinating colour, creating a luxurious effect when a gift is unwrapped.

Alltags Ltd: 0151 482 5566 or info@alltags.co.uk Just Brothers & Co: info@justbros.co.uk or www.justbros.co.uk Something Classy: 01543 480 914 or sales@somethingclassy.co.uk Talbots Group: 0121 333 3544 or www.talbotsgroup.co.uk

Jewellery FOCUS

Comment

Give us a break, mate! As his worst fears begin to materialise, Michael Hoare speaks out against the possible de-regulation of Sunday trading laws

ven back in the 1980s, when I last managed a shop, retailers worked pretty long hours – and that was before the liberalisation of Sunday trading. In August 1994, the Sunday Trading Act changed everything, allowing shops to open, but restricting opening times of larger stores (ie those over 280 square metres) to a maximum of six hours between 10am and 6pm. Even before the change, and counting all of the behind-the-scenes work involved in replenishment, bookkeeping and the like, that added up to a pretty full-on week’s work, especially for management. Those with good memories may remember me moaning about the proposal to allow a temporary relaxation of the Sunday trading laws during the Olympics so that retailers could take advantage of the selling opportunity. My fear was that it would be the thin end of the wedge that led to total de-regulation of Sunday Trading. As we now know, the Olympics weren’t such a resounding success for retailers, but that hasn’t stopped some politicians subsequently suggesting just that – total de-regulation. One rather feeble argument being put forward is that this will help retailers compete with the internet’s 24-hour presence. Surely the idea of internet shopping sites (which are mostly run by retailers anyway) is to trade while shops are shut? Staying open 24/7 to compete with your own website seems counter-intuitive and pointless, and would only increase overheads for retailers already struggling between themselves for meager returns. Anyway, according to new figures released by the Association of Convenience Stores (ACS), small shopkeepers are among the hardest

October 2012

working professionals in the UK, and the organisation’s just published Local Shop Report reveals that 60 per cent of UK convenience store retailers work more than 50 hours in an average week, while just seven per cent work fewer than 30 hours a week. They also take very little holiday; 51 per cent claimed to take less than 10 days off a year, and one in five reported taking no holiday at all. Now I know jewellers aren’t like convenience shops or grocers, but many local shops are open all year round and are often small family businesses. Most owners have no other option but to work throughout the year, and you can add to opening times the many hours spent outside the store working on local events and initiatives. Of course, it would be a huge generalisation to portray all SME jewellers as working like galley slaves yoked to their businesses, but I know many NAG members don’t give themselves the time off they deserve. And, as the ACS points out, the number of hours worked by selfemployed retailers is often far greater than the legal maximum working week and the minimum holidays required under the Working Time Directive.

issue, the subject that garnered most public opposition was the implied suggestion that the Sunday trading laws be repealed. Even the shopping-mad public could see that retailers need to rest – sometimes! Or maybe I’m wrong and we should just stop whinging and get back to work. That seems to be the view among certain think tank wonks who believe that the UK is a nation of shirkers. Apparently (I’ve been too busy working myself to read it) the five backbenchers have stated in a recently published book: “Too many people in Britain, we argue, prefer a lie-in to hard work… Once they enter the workplace, the British are among the worst idlers in the world… We work among the lowest hours, we retire early and our productivity is poor.” Apart from being factually wrong – we work the third longest hours in Europe – a predictable backlash has of course ensued, with cruel assertions being made about their own work records and capacity to recognise hard work. “How unfair,” says I, “some of them have actually been employed in back-breaking, minimum wage roles like management, ‘advising’, press offices, and consultancy!”

Before scrapping the rules and forcing everyone to work longer, the politicians would do well to recall the much vaunted – and now seldom mentioned – Red Tape Challenge So, before scrapping the rules and forcing everyone to work longer, the politicians would do well to recall the much vaunted – and now seldom mentioned – Red Tape Challenge, which was going to sweep away unloved legislation that the general public disapproved of. Aside from the hallmarking

So, before they write us all off as malingerers, may I suggest they widen their horizons a bit? Perhaps we could arrange a little work experience for them; perhaps they could take on a small retail business, possibly in a struggling town centre? And perchance they’d like to start next Sunday? Give us a break!

Jewellery FOCUS

October 2012

Brand ambassadors

Celebrity culture Marc Woodall, general manager of the Watch Hut, discusses the ways in which retailers can harness the power of the celebrity to boost sales

mbassadors are a part of many industries these days; from business people campaigning to encourage other businesses to relocate their operations, through to sports stars promoting a city as the ideal host for a sporting occasion, the use of glamour and success to promote a cause or product is deeply ingrained in our culture. It is therefore unsurprising that these concepts have been appropriated to the watch and jewellery sector. Ambassadors in the watch industry serve two real purposes: they bring glamour and prestige to a brand, and encourage the public to link the successes of the star, with the brand. They also act (or should act) as shorthand for communicating the brand values to consumers. Take Leonardo DiCaprio, for instance. The Hollywood actor is successful, talented, and environmentally conscious â&#x20AC;&#x201C; the perfect spokesman for TAG Heuer. However one star, no matter how high profile, is rarely enough to appeal to all sectors of the market, even if an overlap exists.

October 2012â&#x20AC;&#x2030;

TAG also has its motor racing pedigree to think of; being part of motorsport since the early days the brand still feels the need to demonstrate these roots as well as its glitzy celebrity appeal. To accommodate this part of its branding, it took a separate deal with F1 team McLaren Mercedes. The more youthful, fashion-oriented brands such as Casio take a different approach. Its G-Shock range is often represented in the up-and-coming music scene, by many of the successful artists that have emerged. Eminem, for example, is a performer from the left field of pop music who has secured massive fame despite his controversial stance on many issues. His public image is a fit with the street style aspiration of the G-Shock. The fact that it is unclear whether he wears the brand out of choice or for profit also adds to its edginess. For all retailers, seeing a celebrity wearing their product is an important tool in convincing potential purchasers to buy the product. For evidence of this, take a look at the elaborate window displays from companies such

as Citizen. However, for online retailers there are a number of other options that can be used to deepen the bond between these customers and the celebrities who act as ambassadors. Celebrity culture is hugely influential in the Western world. For reasons that often seem incomprehensible to those outside of the fan base, people often regard celebrities as their friends. The level of linkage that can be built depends on the availability of the star. In-store appearances are a cornerstone of London launches. A roll call of celebrities make their way to Selfridges, Harrods and other high profile establishments each year to launch their new product ranges. But outside of London this marketing tactic has limited appeal â&#x20AC;&#x201C; the media simply does not exist to make optimum use of the opportunity. Similarly, for online-based operations such as ours, it is more difficult to make that connection as there is no flesh to press and no store to host the event. Any event requires the additional costs of hiring a venue and dressing it to complete the look.

Jewellery FOCUS

Brand ambassadors

Ambassadors in the watch industry serve two real purposes: they bring glamour and prestige to a brand , and encourage the public to link the successes of the star, with the brand

Where the internet makes up for this is in the opportunity to constantly drive home the connection. Stories about the exploits of stars can be splashed across news pages, and images of the stars and their watches or jewellery can also be easily presented. One of the more popular weapons in the internet marketerâ&#x20AC;&#x2122;s armoury is to plant stories around the web that connect the celebrity with the brand. This manipulates search engine results whilst giving genuinely informative content to a number of small websites that would otherwise not have the time to generate content. These links produce a steady stream of visitors who are eager to see the products that their favourite star is promoting. This technique also allows the brands to gain prominence in areas where they are not traditionally visible. Letâ&#x20AC;&#x2122;s use actor and TAG Heuer ambassador Leonardo DiCaprio as an example. Obviously anything written will identify his most recent films, but a quick look online and you will also find out about his new car, the energy efficient Fisker Karma. As the car is worth around

Jewellery FOCUS

US$100,000 it is conceivable that there is a crossover market between high-end cars and high-end watches. With such a crossover in place, there exists the opportunity to make a news story from his new car purchase that would create brand awareness of TAG Heuer watches amongst potential purchasers of environmentally friendly cars. The same story therefore creates multiple angles, meaning that the article will appeal to a much wider range of sites than an article about a movie. From the online perspective this wide spread of information creates the illusion that the brand is important. After all, the arbiters of search ranking are often automated processes. Whilst the technology may spot obvious spam, such as words that do not appear to be grammatically or stylistically linked to the subject, it will not have the ability to decide whether a piece of information about the reasons for DiCaprioâ&#x20AC;&#x2122;s association with both brands is relevant information. A more recent phenomenon is social networking. Celebrities have

their uses in this arena too; as well as providing a stream of information that we can use to engage our own followers, a re-tweet from a celebrity (particularly from a well-followed and verified account) is a badge of honour, proving your connection and status as a reputable brand. Online operations such as the Watch Hut are always adapting to a host of technological changes and to the whims of the consumer. Over the coming years, as access to the internet becomes ever more ubiquitous and less tied to desks, offices and homes, we will see a huge range of new devices that offer access. The mobility of these devices makes it likely that these items will be geared towards providing snippets of entertainment rather than the long form programming. The need to identify quickly with the person you are seeing or hearing about suggests that the cult of celebrity will grow stronger, whilst the need to finance the production of the content is likely to see further crossovers and celebrity endorsements.

October 2012

Jewellery FOCUS

October 2012

WATCH FOCUS

MeisterSinger’s new chronograph, the Singular, is designed to combine ease of reading the time with the precision of a stop watch. Its 43 millimetre stainless steel case is 14.8 millimetres deep, and it is water-resistant to five bar. Protected by a domed sapphire crystal, the timepiece’s dials come in four colours and with larger Arabic numerals than have been seen in previous collections. Information: 01923 771 188 or www.meistersinger.de RRP: £2,480

Watch focus Building on the success of the Royal Air Force Red Arrows collection of watches, Citizen has announced it will extend its military association with the Royal Marines Commandos. The Royal Marines Commandos ‘Super Tough’ collection comprises four watches featuring a monocoque case and extra-thick (2.5 millimetre) non-reflective sapphire glass, as well as being shock resistant, weather-proof, anti-magnetic and made from super titanium. The BN0110-06E model featured has a strap made from Kevlar, the same material used in bulletproof vests. It also has an authentic dog tag keeper, to which name, nationality, blood type, and birth date can be added. Information: 0118 936 8843, dschadenberg@citizenwatch.co.uk or www.citizenwatch.com RRP: £299

A decade of glam rock, disco, punk rock and ostentation, the 1970s also saw many breakthroughs in technology – not least the introduction of quartz technology in watches. Timex pays homage to this invention and the decade in general with its new Timex Originals Vintage 1972. The Originals Vintage timepiece is a modern take on a 40-year-old classic, mixing iconic design with femininity. Information: www.timex.co.uk RRP: £115

October 2012

Jewellery FOCUS

WATCH FOCUS

The Schofield Watch Company’s Signalman is a limited edition timepiece that comes in two designs: the polished stainless steel model, of which there are 300 pieces available; and the ‘diamond like carbon’ (DLC) model, of which there are 100. The rhodium-plated, pearlage decorated watches are water resistant up to 500 metres and contain an antimagnetic movement holder. Information: www.schofieldwatchcompany.com RRP: £2,958 (stainless steel GMT PR model); £3,342 (DLC GMT PR model)

Following its victory at the International Timing Competition, Tissot wanted to demonstrate its skills to its customers. Therefore the unique Tissot Le Locle Automatic Chronometer showcases the maker’s expertise in the art of creating precision movements, observed through a finely engraved see-through case back. The timepiece features a double anti-reflective sapphire crystal, Arabic numerals for a touch of modernity, and comes with either a stainless steel bracelet or leather strap.

BQ Watches (BQW) is a top buyer and seller of pre-owned luxury watches, specialising in Rolex. Of all the pre-owned Rolex watches the company sells, none is more iconic and recognisable than the gentleman’s Bi Metal Datejust on a Jubilee bracelet. BQW’s best seller is the version made between 1990 and the mid-2000s, which it can supply to retail jewellers fully serviced, polished and with a two-year guarantee. Information: 0208 953 4575, info@bqwatches.com or www.bqwatches.com RRP: £3,200

Information: 0845 296 2446 RRP: £785

Paying homage to the Converse All Star shoe, Converse’s 1908 Premium watches capture the essence of the ubiquitous shoe within a timepiece. The watches from the collection feature the iconic Chuck Taylor All Star patch and incorporate signature detailing and materials, such as canvas and grommets. Information: 01628 770 988 RRP: £65

October 2012

Jewellery FOCUS

October 2012

Jewellery FOCUS

Scrap gold

Driving the market The team at precious metal refiner Capella Manufacturing Ltd explores the driving forces behind the scrap gold industry. Is it simply the price, or are there other factors in play?

old has been the most internationally recognised currency throughout history. Many wear it as a status symbol; industry utilises its qualities in processes and machinery; and most of us will even own traces of gold in household appliances and telephones! Whatever anyone says, we have a fascination with gold. However, when it comes to jewellery, fashions change; the colour of the metal, shape and style all go in and out of favour. Indeed, experts believe that this could, indirectly, be a factor in the proliferation of businesses now buying used gold. It is estimated that a total of 165,000 tonnes of gold has been mined

in human history (up until 2009) – that’s roughly equivalent to a cube with 20.4 metre sides. Out of this, 50 per cent of new gold produced is used in jewellery; 40 per cent in investments; and 10 per cent in industry. With gold deposits gradually depleting and a growing global demand for the metal, as well as a greater demand for environmentally responsible products, recycling and refining old gold for re-use has become the solution to filling the void. This is undoubtedly most evident in the jewellery sector and cash-for-gold businesses. The research carried out with jewellers and pawnbrokers across the country at the start of the year found

that, unsurprisingly, it was the hard economic times and all-time high price of gold that topped the list of motivations for us to part with old, unused jewellery. If you need to pay the bills and an old ring that you haven’t worn for 10 years could now be worth four times the price you paid for it, then it’s obviously a good time to turn a dusty old piece of metal into cash. However, experts have also seen that changes in fashion have played their part. As with changing tastes in clothing, the style of jewellery has moved on, and people are less likely to hold onto outdated pieces. Simply put, it seems that in the UK, yellow gold has become less fashionable than it once was.

Kevin Bloor, managing director of Capella, explains: “In terms of jewellery trends, our clients have noticed yellow gold is less desirable than white gold and other precious metals; however the demand, and therefore the price for the fine gold remain high for dealers and investors. With old and unfashionable jewellery tucked away and an all-time high price for the metal, the floodgates have opened for people to empty their old jewellery boxes and release some dead money. “If yellow gold was still at the height of fashion, I do not think we would have seen nearly as much gold being processed over the last few years.” It was undoubtedly the recordbreaking prices of the metal that were the catalyst for more people to sell their old gold, however the fact that yellow gold was going out of fashion may well have fanned the flames.

“If yellow gold was still at the height of fashion, I do not think we would have seen nearly as much gold being processed over the last few years”

John Morgan, co-founder of John Stewart Jewellers, says: “Many of our customers selling scrap gold are taking out-of-date pieces and wanting to release some money to cover rising bills or for a treat. Whether yellow gold was in fashion or not, people would still be looking to take advantage of the record high base metal price. However, in my view, the fact that yellow gold pieces are not currently fashionable has meant that the jewellery industry is flooded with pieces that aren’t worn and are ripe for scrapping – hence why, in my view, fashion has played its important part in gold scrapping fever!” Although gold has an unparalleled track record for long-term investment, like any traded commodity, the price of gold fluctuates in the short term. Since the research was conducted at the start of the year, experts at Capella have recognised an overall drop in the amount of gold scrapped. They believe that various local and global factors have affected this, with the stabilisation of the price of gold; heavy rain at the start of the summer; and the ‘Olympic effect’ keeping people at home all playing their part. Historically, yellow gold has been a very popular metal and it therefore

stands to reason that there are a lot of unwanted pieces still in circulation for future scrapping, refining and recycling. Although overall the amount of scrap gold has lessened, specialist refiners such as Capella have actually increased the level of production. Gold is and continues to be a safehaven for investors and is still desired globally for jewellery and industry alike. Therefore the team at Capella, and experts around the world, agree that in the long term, the price of gold is set to continue on its steady climb.

Established in 1997 and located in Buxton, Derbyshire, Capella has a wealth of experience in the trading and processing of gold, other precious metals and stone recovery, working with clients including jewellers, pawnbrokers, bullion dealers and gold investors. It is also the first refining company in the UK to have been audited and FLO-CERT accredited to process Fairtrade and Fairmined gold. For more information visit

Scrap gold

Reaping the

rewards If you’re looking for precious metal scrap processing services, here are a few companies that could help…

Image: Capella

Bowjangles (Midlands) Ltd says it is continuing to gain market share in the scrap gold sector, with an everincreasing trade customer portfolio. Director Aaron Sheldon states: “Buying scrap gold/silver is a brilliant way to extend your service offering, and to build your reputation within the community by offering fair prices during these tough economic times.” The company points out that one of the main problems involved in buying scrap gold is that mistakes can be very costly, and anyone can fall victim to them – whether they be honest or not. “Our success is due to the fact that all of our trade customers can phone our bases and ask any questions in regard to what they are buying. Our staff members are well equipped to answer any questions and to establish the authenticity of a product over the phone, which makes the purchase an easier process for the trader.” Information: 0121 556 6868 (Wednesbury), 0121 554 8917 (Birmingham) or www.bowjanglesmidlands.co.uk

Bullion Bond Limited has specialised in the processing of precious metal scrap and workshop waste for over 20 years. The company’s buying desk and private dealing room are conveniently located between London and Birmingham in Chesham, Buckinghamshire. Customers can also visit its workshop to witness their scrap being processed. Information: 01494 372 051, tony@bullionbond.co.uk or ian@bullionbond.co.uk

Presman Mastermelt says there are big changes at its Hatton Garden scrap counter, which first opened its doors back in 1945: “The business has recently undergone a complete overhaul and is now overflowing with innovative customer service initiatives to accompany the stylish new buying and melt rooms.” Just launched is an interactive ‘Scrap App’, which provides many practical and time-saving applications. Customers can even pre-book a counter time slot to avoid any waiting, and ordering Presman’s fully insured ‘freepost’ envelopes can be done in a click. “The app has all of the information a scrap buying jeweller or pawnbroker could want, and can be quickly downloaded from our new and easy-tonavigate website,” adds director Gary Williams. “Whilst there, don’t forget to check out other great sections like ‘Buyers Beware’, which shows the top 10 buying scams from around the country.” Top prices and same day payment in cash, or transfers, are the norm, and Presman’s is happy to provide acid and XRF testing on items you may not be sure about. You can even arrange to watch your melt in the newly refurbished melt shop. “Our customers know they can trust us, so whether it’s scrap, lemel or workshop waste, we are always looking to improve their experience and provide an even faster and more transparent service,” Gary concludes. Information: www.mastermelts.co.uk

Jewellery FOCUS

October 2012

Scrap gold

Weighing up

the options

With the scrapping of gold still an attractive option thanks to high prices, Urs Wolfenberger of Mettler-Toledo discusses the importance of precision weighing tools for the jeweller

s jewellers are well aware, gold has undergone a huge economic transformation over the last 10 years. Once considered a stable and reliable investment, gold is now experiencing volatility rarely seen before, and performing more like equity than a commodity. Prices hit an historic high of US$1,800 per ounce in September 2011*, then dropped to below $1,540 earlier this year, before rallying again to just over $1,700. Speaking to Urs Wolfensberger, global market manager jewelry for Mettler-Toledo, it becomes clear just how much gold’s meteoric rise and consequent fluctuations have impacted the jewellery trade, the growth of scrap gold and the importance of accurate weighing scales in protecting profitability and brand reputation.

Over the last 10 years, the price of gold has increased more than six fold. How has this huge rise in the value of gold changed the jewellery business? The increase in price of raw materials such as gold has had positive and negative impacts on business. Retailers stand to make significant profits when buying and selling gold at these increased margins, but they also must deal with more demanding and value-focused clients. For many retail consumers, gold has historically been an investment option. With the increasing cost of gold, customers are now keenly aware of the value of their investments, and jewellers must

be certain that transactions are clear, transparent and accurate.

Are there other economic factors impacting on the jewellery industry at this time?

In the UK, the ongoing recession has driven retailers to develop their scrap gold buying activities. Their customers are suffering from less disposable income, and with the fluctuations in the gold market, many consumers are waiting to see if prices increase or decrease, and if economic conditions will improve before making major purchases. Jewellers are therefore switching to buying rather than selling gold, and are keenly aware of the importance of striking a good deal and maintaining healthy profit margins. To be sure that they are paying the right price, many jewellers are investing in the latest weighing technologies.

How can jewellery businesses make the best of this change in the market? When working with scrap gold, investing in high-quality jewellery tools such as precision, legal-for-trade balances is essential. Although some jewellers continue to use rudimentary tools to check the carat and quality of gold that isn’t hallmarked, as is often the case with scrap or broken gold, many retailers are moving to sophisticated and highly precise scales, enabling them to analyse and price gold easily. Besides improving accuracy, these new tools also offer features such as auxiliary displays,

“ With ultra-precision scales, retailers can eliminate weighing er rors and demonstrate to their customers that they are offering a fair price for their scrap gold”

which clearly show measurements and weights for a customer’s peace of mind, and automatic calibration to eliminate errors. They are also more versatile: in addition to weighing gold, new scales can weigh silver and carats as well as determine density.

What impact can a precision balance have on a business?

I can’t emphasise enough how the right precision tools can help protect a jeweller’s reputation and add value to business. With ultra-precision scales, retailers can eliminate weighing errors and demonstrate to their customers that they are offering a fair price for their scrap gold. All of this has an impact on the bottom line because customer confidence can lead to repeat business, and improved accuracy reduces the risk of lost profit.

What are the most important features to look for in a balance?

If a jeweller is seeking to replace his or her scales, I would suggest a balance that meets the most stringent national regulations that are applied, which in the UK are applied by Trading Standards Institute. Weighing scales need to meet the requirements of the Weights and Measures Act 1985, and be approved as legal-for-trade. Ease of use is also critical as it reduces the likelihood of human error, which can prove costly these days. Mettler-Toledo is a global supplier of precision instruments; manufacturer and marketer of weighing instruments for use in laboratory, industrial and food retailing applications; and supplier of several related analytical and measurement technologies. For more information please visit *http://goldprice.org/gold-price-history.html

Jewellery FOCUS

October 2012

A day at the Office

Valuations

In this month’s instalment of the Birmingham Assay Office’s series looking at the challenges faced by its experts, Phil Withington, senior valuer for SafeGuard, explains how he applies his knowledge on a daily basis

fter 20 years as a valuer, and in his capacity as senior valuer for SafeGuard, the independent jewellery and watch valuation division of the Birmingham Assay Office, Phil Withington is used to having to let people down gently as well as giving them good news. Armed with a 10x loupe, some basic gemmological equipment and decades of experience, SafeGuard’s valuers can identify and value the majority of pieces they see in a relatively straightforward way. Those customers who have inherited jewellery or made an impulse ‘bargain’ buy for a bit of fun, may genuinely have no idea of the real worth of their jewellery, but will usually secretly hope that its material value is as high as its sentimental value. When presenting their goods for valuation, many people

October 2012

are poised for an Antiques Roadshow type experience, with the item being given a value way beyond their expectations. Rising gold and diamond prices have created many such moments for those with items bought from legitimate sources, and customers have gone away very well satisfied with their valuation and their treasured possession. However, rising prices and the current economic climate have also spawned unpleasant new practices. As the senior valuer, Phil regularly has to apply his skills in a different way. He is finding more and more of his time in the Office is devoted to researching cases to create expert witness statements for Trading Standards or private individuals, some of whom have been very badly exploited. For these customers, there is only bad news.

In the past 12 months particularly, SafeGuard has received regular complaints relating to vulnerable people who have been duped into buying ‘investment’ diamonds or coloured gemstones at vastly inflated prices. While there are legitimate companies offering genuine investments, there are also those who have identified an opportunity to exploit un-informed members of the public. SafeGuard neither buys, sells nor has any connection with insurance replacement, and so its impartiality and total independence from the trade make it an obvious choice for those seeking an independent expert opinion. Such work requires all of Phil’s extensive knowledge and expertise. In order to arrive at a realistic average selling price, he first has to assess the quality of the diamond to

Jewellery FOCUS

A day at the Office FOCUS ON THE EXPERT

ensure that it is what it purports to be. In the case of a coloured diamond or gemstone this may also require input from the gemmological experts in the AnchorCert Gemmological Laboratory (another division of the Birmingham Assay Office) who will use their battery of state-of-the-art equipment to assess the stone and identify whether it is natural, synthetic or treated. Having properly identified the stone, desktop research through Rapnet and the NAG guidelines give Phil a general guide as to its price. In order for his evidence to stand up in court, if the case gets that far, he then needs to validate the theoretical prices by testing them against quotes for a similar stone from a range of stone dealers. Phil says: “This is very time consuming research. It is not unusual for the original price paid to be three or four times the high street replacement value, and we need to be sure we can prove the excessive price inflation with proper evidence. “Part of the skill of being a valuer is to understand and allow for the wide range of mark-ups used by the jewellery trade, but for these sorts of loose stones it is the biggest minefield of all. The victims of these scams tend to be vulnerable people who are duped into ‘investing’ by continual sales pressure, usually by telephone. SafeGuard is committed to ensuring we provide the best possible evidence to stop this.” As senior valuer, Phil is also responsible for ensuring valuations and standards remain consistent throughout the SafeGuard team, and for arbitrating where items are not clear cut or are particularly unusual. The categories most likely to need a second opinion or a consultation between all of the valuers are high-end watches and coloured gemstones. As with every other task at the Birmingham Assay Office, the most important starting point is a straightforward visual assessment by an experienced expert using a 10x loupe. If necessary the valuer will then move to a microscope and, in the case of gemstones that do not ‘feel right’ to the SafeGuard valuers, there are all of the resources of AnchorCert available to use in order to reach a proper decision.

Jewellery FOCUS

An experienced valuer can usually spot a counterfeit watch fairly readily, as there are small tell tale details immediately obvious to the experienced eye. However, SafeGuard is seeing an increasing number of ‘hybrids’, which are made up from genuine components but do not constitute a recognised model. There is also a growth in the number of watches that have been ‘enhanced’ by the addition of, for example, diamonds set into the bezel. This may apparently increase the material value, but in fact the original watch house will now disown the piece, which may mean it will no longer be accepted for service or be recognised by the brand, devaluing it significantly. The watch house may choose to remove customised parts and replace with original parts, charging the customer accordingly, before it carries out any other work on an adapted watch. The obvious alterations will be picked up immediately by an expert valuer, but sometimes it is a gut instinct that suggests something is not right, and Phil is often called upon to share his expertise with other members of the SafeGuard team. Registration numbers are checked, tiny details scrutinised and discussed, and if the team are still unsure the watch may be sent to an authorised watch expert who can remove the back of the case and allow the valuers to inspect the movement and so make a clear-cut decision. Experience is everything.

Phil Withington IRV, RJ Val Dip, FNAG After more than 30 years working in jewellery retail and as a jeweller, Phil has been valuing for SafeGuard for over 15 years. As senior valuer he sometimes values up to 50 items a day himself, and also handles customer queries and lends his expertise and advice to the rest of the team when they are confronted with a particularly difficult or unusual item. Phil carries out in-store event days around the country, as do all SafeGuard valuers, and enjoys the challenge of having to value an item and explain its intricacies while the customer looks on.

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.

October 2012

Jewellery FOCUS

October 2012

TAKING STOCK

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Takin Taking

stock

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These Goldmajor amber pieces, surrounded with silver in delicate flower designs, are both subtle and feminine. From the design-led larger pieces, to the classic and contemporary, the company aims to produce a design for everyone’s taste. Information: 0208 579 0588 or info@goldmajor.co.uk

Dan Jewellers Ltd is introducing its new brand – Kamara Jewellery. Kamara’s founding partners have been involved in the jewellery business through London’s Hatton Garden, and have combined their experience to provide products from designers that have created UK jewellery scene trends over the past 30 years. “As one of the first companies to introduce crystal jewellery, Kamara Jewellery only supplies the highest quality,” the company adds. Information: www.kamarajewellery.co.uk

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Ready for the upcoming Christmas period, Karma Se7en presents a new range of Beaded Wrap Bracelets. Comprising semi-precious and precious stones, the bracelets can wrap around wrists up to five times, depending on the range and style desired. Besides its range of K7 bracelets, Karma Se7en provides cutting edge jewellery designs for modern day life. All Karma Se7en Jewellery is made up of either nine carat gold, 18 carat gold or sterling silver, along with precious gemstones and diamonds. Information: info@karmase7enwholesale.com or www.karmase7enwholesale.com

European Diamond Reports (EDR) is proud to announce that after months of research and investment, its lab is now equipped with the latest and best technology for determining CVD and HPHT diamonds, and offers the service without compromising on its turnaround time. EDR always recommends purchasing diamonds from legitimate sources, but understands that buying from the public is a key part of the industry these days, and it is for this reason that it offers the new service from its Hatton Garden laboratory. Information: 0207 404 6094 or www.diamond-reports.com

Jewellery FOCUS

October 2012

TAKING STOCK

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Virtue London would like to introduce its collection of sterling silver composable lockets, ‘Virtue Keepsake’. The silver lockets come in two sizes with either a CZ encrusted or a plain face, and each style is available in rhodium, gold and rose gold plate. The composable discs come in a variety of styles, from real stones to CZ-encrusted silver, which can stack on top of each other to produce endless combinations. A personalised engraving service is also available. Information: 0208 343 2828 or sales@gmckenzie.com

 V is a brand inspired by vintage design that aims to breathe fresh air into the jewellery market, by challenging current trends with intricate and high quality designs. Co-founder of V, Laura Vann, explains: “Our jewellery is not based on expensive fads, sure to be replicated and to fade away almost as quickly as they came about. We have instead created a collection of timeless, affordable classics.” The brand ensures its pieces have a minimal and clean finish, while the juxtaposition of modern and vintage keeps the range current and wearable for a broad market. Information: 0121 288 3568, info@vjewellery.co.uk or www.vjewellery.co.uk

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October sees the launch of Morplan’s traditional Christmas ‘buy one, get one free’ bag offer. Festive red or gold supergloss luxury carrier bags in small and gift sizes will be on offer until 21 December (while stocks last, and supplied in packs of 50). Tissue and ribbon can be added to make the bags ideal for use as part of a gift wrapping service, or simply to add a touch of festive glamour. Information: 0800 451 122 or www.morplan.com

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Alltags Ltd assists its clients in taking their branding one step further, offering printing solutions with its high quality jewellery labels, ribbons and printers. The company offers one of, if not the most durable range of labels available on the market today. Company logos or product information can be printed onto the wide range of label styles, and in-house printing services are also available for clients who would rather use Alltags’ expertise. Information: 0151 482 5566 or info@alltags.co.uk

October 2012

Based in Hatton Garden for over 15 years, Eternity Range specialises in diamond-set eternity rings containing high quality G/VS diamonds and fine coloured gemstones. Eternity Range boasts a collection of over 90 styles, many of which are in stock and can be delivered the next day. Client visits are also available, if desired. To complement the range, a bespoke design service is offered to accommodate specific customer requests. Standard delivery time is only two to three weeks, however the company says it will do its utmost to meet earlier deadlines. All items come with a one-year guarantee. Information: 0207 831 8573 or www.eternityrange.co.uk

Jewellery FOCUS

October 2012

Jewellery FOCUS

Designer

Curiouser

& curiouser

Having spotted her work at Somerset House in June, Louise Hoffman catches up with Anna Faine to find out more about her appetite for oddities, and the ways in which it has inspired her jewellery designs What are your primary creative inspirations, and do you know why they have become so important in your life?

The primary creative inspirations for my jewellery come from both the absurdity and humour of life, and my love of craftsmanship and detail. I have always been strongly influenced by the work of Lewis Carroll, especially Alice in Wonderland, and the idea of turning the ordinary into the extraordinary with humour and a genuine search for an understanding of the world around us. I think the basis of this comes from my own curiosity and a constant desire to explore where I belong, and what I can possibly bring to other people. A sense of humour and appreciation of the surreal are intrinsic to my personality and my

October 2012

relationship with other people. My desire to share experiences and listen to and learn from others remain so important in my life and work.

Can you tell us the story behind the development of your distinctive style?

After a peripatetic life in the theatre, where I fell in love with the work, but quickly fell out of love with the business, I was searching for something through which I could express my creativity and continue to tell a story, and started to look at weekend artsbased courses in London. I had very low expectations as to how I would take to the practical, workshop environment, as my only experience was a very disappointing, and still

to this day unfinished bird-house in school design and technology classes! The ‘light bulb’ moment was signing up for a short course in Beginners Jewellery at Central Saint Martins, and meeting goldsmith Martin Hopton. He was truly an inspiration as a maker and shared my slightly eccentric and satirical viewpoint. The sheer thrill of pride at finishing a copper band ring on the first day was ridiculously satisfying. The sense of making an actual object, completely by hand, however simple, was truly a revelation to me. From then on, it was a full immersion in the traditional hands-on skills of jewellery and silversmithing, gaining as much knowledge and experience

Jewellery FOCUS

Designer

as time would allow, under the mentorship of Mr Hopton. I also made pilgrimages to the Victoria and Albert and British Museum galleries to inspire me, and remind me of the extraordinary skill and craftsmanship of the generations before me. The technique which I developed a specific interest in, and was drawn to, was piercing. The precision required for hand-piercing was extremely frustrating to begin with, but after a great deal of practice I became more and more accurate and finished work with greater speed. Soon I found myself spending some time working at the bench every day. In short, it became a wonderful obsession!

When did you launch your brand, and what have you most enjoyed about the process of setting it up? I finally launched my jewellery company in March 2010 – an exciting and daunting step into the unknown! The process has been a steep learning curve, in part due to the timing – setting up a business in the midst of a global economic downturn! My interest in all aspects of my business comes from a creative angle; from the packaging and stationery to the promotional elements, I want to ensure that my jewellery offers as personal an experience as possible for each customer.

Jewellery FOCUS

The aspect I have most enjoyed has been the relationships I have made and the people I have met, through advertising and promotion, and working with other jewellers and other arts-based disciplines.

What has the feedback been like so far?

The feedback so far, from trade buyers and individual customers, has been very positive and I feel that my slightly eccentric approach to my jewellery business has been a nice surprise for people.

Can you tell us about the collection itself?

My work is organised into several loose ‘collections’: Silver-Lining, Wonderland, Flower-People, Secret Sounds, Portrait, Ornament and Oddity. There are also ‘one-off ’ items, such as a round trinket box, with a clock-shaped lid with moving hands; and a range of ‘Curious’ spoons, with twisted silver handles, topped with Alice in Wonderland characters. The Silver-Lining collection has proved to be one of the most popular. The pieces incorporate patterned silver and gold clouds, with semi-precious ‘rain drops’ of briolette tourmaline, topaz, peridot and iolite. Much of my jewellery, however, consists of one-off pieces, which cross over many aspects of my collections. I find it quite a challenge to isolate a specific style or theme, as my mind has

magpie-like tendencies when it comes to ideas.

Which materials do you most enjoy working with, and why? I most enjoy working in sterling silver, and where cost allows 18 carat yellow and red gold. My love of antiques and the history of objects has led me to include elements of original antique pieces, such as Victorian micro mosaics and Georgian intaglios. Over the last year I have also included more gemstones in my work, particularly the bright green tsavorite garnet and deep blue tanzanite.

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

My work is constantly changing, and new ideas never really stop forming. I have been working on a new collection of scrollwork-inspired pieces, using thicker metal, and flush-set diamonds. I also intend to expand the number of pieces using words and sentiments, with a number of rings that are made up of pierced messages, such as ‘You are Loved’, ‘Method in the Madness’ and ‘Cats’ Pyjamas’.

What are your goals for 2013?

My main goals for 2013 are to maintain my unique identity and continue to focus on the individual customer; raise my profile in the handmade, individual marketplace; and expand my collections.

October 2012

SELLING

Closing the sale Brad Huisken encourages sales professionals to confidently ask their customers for the sale, having recognised the buying signs

f your customer hasn’t yet said the magic words, “I’ll take it”; now is the time to take measures to close the sale. What is the definition of ‘closing’? It seems that the conventional definition is to do anything possible to get the order, no matter what effect it has on the customer. In fact many sales trainers put all of the emphasis on the act of closing the sale, with sophisticated closing techniques. My definition is different, however. In my opinion the step you take to close the sale is simply to ask for the order. Asking for the sale is, or should be, the natural progression of a successful sales presentation.

If you don’t ask, you don’t get

We have all heard this saying a thousand times; it is a simple but powerful concept, and is key in closing the sale.

Your job as sales professionals is to ask for the sale, no matter what type of sales presentation you have given

October 2012

Dr Seuss wrote one of the finest books on sales that I have ever read, entitled Green Eggs and Ham. As a matter of fact it was, and may still be, my eldest son’s favourite book. In the story, Sam-I-Am asks for a sale well over a dozen times, and is also rejected well over a dozen times; but Sam-I-Am is relentless in his pursuit of the sale. While he doesn’t use any formal techniques for handling objections, he continues to ask, and in the end, he convinces his customer to at least try the green eggs and ham. To the prospect’s delight, he actually likes the green eggs and ham, and thus Sam-I-Am closes the sale. The prospect is happy; Sam-I-Am is happy; and the result is another satisfied customer, just based on asking and getting the prospect to try the product. It’s a winning situation for everyone and I even believe that the customer will tell all of his friends how great green eggs and ham are. Your job as sales professionals is to ask for the sale, no matter what type of sales presentation you have given, or how great or terrible a job you think you have done in the selling process. I will be the first one to admit that the asking process is much easier after a terrific sales presentation; nevertheless, you must ask with every customer, every time, without any reservations, limits, or second-guessing. It has been documented that in 20 per cent of all sales presentations the customer will say, “I’ll take it,” without being asked. In another 20 per cent of sales presentations the salesperson will ask, “Will you buy it?” Yet in 60 per cent of all sales presentations there is absolutely no attempt made to ask for the sale! What a tremendous waste of time and energy.

We previously discussed the inner drive that a person needs to be successful in sales. Drive and the intention to make the sale are the two very powerful forces in selling. If you intend to make every sale with every customer, then the process of asking for the sale will be much easier. The reason that many salespeople find it difficult to ask for the sale is because they lack confidence in their selling skills. Yet, if you have used the techniques that I have detailed up to this point, you will have earned the right to ask for the sale. The proper time to close is any point within the sales presentation once trust and value have been established. This could happen immediately or it may take some work. As professional jewellery salespeople we need to recognise buying signs and then close the sale once the customer tells us that he or she is ready to make the purchase.

Buying signs

Your ability to recognise a buying sign is one of the keys to maximising your closing opportunities. With a buying sign, your customer, in a sense, is telling you: “Hey, if you’d be quiet and listen to me for a minute you’d know I am ready to buy now!” In many situations the customer is ready to buy, but then gets confused or is talked out of the purchase by the salesperson continuing to sell. Unfortunately our clients don’t carry a foghorn with them that they can blow whenever they are ready to make their buying decision. The professional will train him or herself to listen to any clue or signal that will indicate that the customer is ready. It could be, “What

Jewellery FOCUS

If you intend to make every sale with every customer, then the process of asking for the sale will be much easier

do you think, honey?” or, “Can we get this sized this afternoon?” My broad definition of a buying sign is: any question that is asked, or statement that is made about the purchase after both trust and value have been established in the customer’s mind. It is time to ask for the sale the second that a buying signal has been given. Don’t wait until you have given them that final feature and benefit, or told them the entire story as you think it should be given – ask for the sale now! You could receive a buying sign upon delivering your initial contact line. For example, a customer walks into the store and says: “My sister got the most incredible necklace here last week.” Here, ‘sister’ represents trust and ‘the most incredible necklace’ represents value, so the best thing to do next is to ask for the sale. Close the deal by saying: “Would you like one just like it?” Assuming she says yes, you have made the sale. Then is the time to go back to the other selling phases and worry about the details so that you know what to add on, and to develop a relationship that will cause your customer to become your personal trade. Don’t just take the money and run to the cash register; there is still much to be accomplished. 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

October 2012

DATA

Prices • Figures • Outlook Metal Prices £/Unit

Jul 12

Aug 12

Sep 12

% Change

Sterling Silver £/Kg

525.46

528.63

608.35

Plus 15%

Gold £/g

32.90

33.13

34.46

Plus 4%

Palladium £/g

12.06

11.96

13.07

Plus 9%

Platinum £/g

29.83

28.83

31.79

Plus 10%

Rhodium £/g

25.83

23.75

22.26

Minus 6%

Iridium £/g

22.41

22.14

21.25

Minus 4%

Ruthenium £/g

2.39

2.38

2.23

Minus 6%

Jul 12

Aug 12

Sep 12

% Change

Sterling Silver Scrap £/Kg

493.36

496.34

571.19

Plus 15%

The implied deflator, which provides an estimate of the prices of goods sold or store price inflation, slowed to 0.2 per cent – the lowest annual percentage change since October 2009.

9ct Gold Scrap £/g

11.90

11.99

12.47

Plus 4%

14ct Gold Scrap £/g

18.57

18.70

19.45

Plus 4%

18ct Gold Scrap £/g

23.81

23.98

24.94

Plus 4%

In total, the average weekly spend for July 2012 was £6.7 billion. This figure is up from £6.6 billion in June 2012 and £6.5 billion in July 2011.

22ct Gold Scrap £/g

29.08

29.29

30.46

Plus 4%

Platinum (95%) Scrap £/g

24.17

23.28

25.67

Plus 10%

Retail sales volume: July 2012 In July 2012 all retailing seasonally adjusted sales volumes were estimated to have increased by 2.8 per cent when compared to July 2011. Over the same period all retailing seasonally adjusted sales values were estimated to have increased by 3.1 per cent. Seasonally adjusted sales volumes were believed to have increased by 0.3 per cent compared with the previous month. Sales values, when adjusted for seasonal expectation, were estimated to have increased by 0.8 per cent in the same period.

During the month, the average spend via the internet was estimated to be £505.1 million, meaning that the proportion of retail sales – excluding automotive fuel – made via the internet was 8.5 per cent for the second consecutive month.

Source: ONS

Stay informed... Visit

for daily metal prices

Scrap Metal £/Unit

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

1,586

952

1,198

881

705

0.10 Carat

1,611

967

1,510

886

725

0.25 Carat

2,417

1,359

2,077

1,087

801

0.50 Carat

7,227

3,358

4,563

2,920

2,336

0.75 Carat

8,881

5,498

5,815

4,088

3,101

1.00 Carat

1,570

8,564

10,450

6,933

4,350

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 4th September 2012/Dollar Exchange Rate 1.5890

October 2012

Jewellery FOCUS

Hallmark figures - Aug 2012 Aug 11

Aug 12

Variance

2,246 321 515,878 2 518,447

648 707 393,208 528 395,091

-1,598 386 -122,670 526 -123,356

-71.1 120.2 -23.8 26,300 -23.8

68 1 21,998 73,214 7,854 252,226 355,361

25 1 26,343 65,440 4,631 208,957 305,397

-43 0 4,345 -7,774 -3,223 -43,269 -49,964

-63.2 0 19.8 -10.6 -41 -17.2 -14.1

10 17,921 3 1 17,935

1 20,157 40 0 20,198

-9 2,236 37 -1 2,263

-90 12.5 1,233.3 -100 12.6

7,159 388 7,547

1 5,655 2,471 8,127

1 -1,504 2,083 580

100 -21 536.9 7.7

899,290

728,813

-170,477

-19

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 articles hallmarked by the four UK assay offices in August was down 19 per cent, from 899,290 in 2011 to 728,813 in 2012. While gold articles were down 14.1 per cent and silver were down 23.8 per cent, the number of platinum and palladium articles hallmarked were up 12.6 per cent and 7.7 per cent respectively. Source: Birmingham Assay Office

Jewellery FOCUS

October 2012

Directory

AMBER JEWELLERY

BARCODING, LABELLING & PRINTING

BOXES, PADS & PACKAGING

CASTING

ASSAYERS BULLION DEALERS

BEADS

CASTING

CASTINGS & FINDINGS

BOXES, PADS & PACKAGING

CHARMS

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Directory

CLOCK DISTRIBUTORS

DIAMONDS

DIAMOND SETTINGS

DISPLAY CABINETS & COUNTERS

Counter Rolls

DIAMONDS

ENAMELLERS

DIAMOND & JEWELLERY CERTIFICATE

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October 2012

Directory

ENGRAVERS

GEMSTONES

P2636 Jeweller (Dec 09):Jeweller (Dec 09)

1/09 12:38 Jeweller (Dec Page 09) 14 24/11/09

12:38

24/11/09

12:38

GEMSTONES

Page 14

GEMSTONES

Gold and silver jewellery

CP2636 Jeweller (Dec 09):Jeweller (Dec 09)

24/11/09

12:38

Page 14

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October 2012â&#x20AC;&#x2030;

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JEWELLERS TOOLS

JEWELLERY POLISHERS

PEARLS, CULTURED

PHOTOGRAPHIC EQUIPMENT

JEWELLERY EQUIPMENT JEWELLERY REPAIRS

RESTRINGING

JEWELLERY MANUFACTURERS PERSONALISED JEWELLERY

JEWELLERY MANUFACTURERS RING SIZE GAUGES

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F O R

R I N G S

T H A T

F I T

PACKED IN COLOUR INSTRUCTION ENVELOPES

“Can you afford to leave one out of your mailing?” www.multisizers.com Tel 01481 253244

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October 2012

Directory

SCRAP PURCHASE

SHOPFITTING

TROPHIES & MEDALS

SECURITY

WATCH REPAIRS

SIGNET RINGS

SECURITY

Repair Services Is your Rolex watch bracelet stretched and worn?

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WATCH & Clock REPAIRS

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WEDDING RINGS

RECRUITMENT

01206 767 797

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October 2012

Your Views

Voice

on the

highstreet

Beth Raffle of Syoki Jewellery, Braintree Could you tell us about the history of Syoki Jewellery?

Syoki Jewellery is a boutique jewellery shop that opened in October 2009. From 2009 I worked as a manager in the shop for the previous owner, before buying it from her in late 2011. Since opening we have gone from strength to strength, striving to stay as unique as possible.

What is Braintree like as a place to do business?

Braintree is a lovely town in mid-Essex. We are very lucky to be situated in the popular George Yard shopping centre, which hosts many big name stores. We have lots of regular customers and now, with Braintree being chosen as one of Mary Portas’s ‘Portas Pilots’, we hope that it will drive customers to the town.

What, in your opinion, are the main problems faced by retailers today?

Being a smaller boutique jeweller we always need to keep our stock fresh and exciting, and with these hard economic times this is a struggle. We are reliant on customers returning so

October 2012

it is necessary to be able to offer them unique pieces.

Syoki offers an extensive range of products on its website. In your opinion, how important is it to have an online presence in the jewellery industry today?

We feel it is of the utmost importance to have an online presence. We have a website and use social media sites because more and more people are shopping online and therefore we need to be able to offer them that service. Our online sales have more than trebled in the last year and we also have a lot of enquiries on our Facebook and Twitter accounts. An online presence is about letting as many people as possible know about you and what you do.

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

I love working with beautiful pieces of jewellery and I find it so enjoyable to help a bride find her wedding jewellery, or a husband find that perfect anniversary present. I feel that if I love the jewellery it makes it so

much easier to show customers how stunning it really is. I love to work closely with customers and take great pride in offering beautiful jewellery and great service.

Syoki sells a wide range of both women’s and men’s jewellery. What is selling well at the moment?

On top of women’s and men’s jewellery, we sell children’s pieces. Women’s pieces are always the most popular items and bracelets have been the big seller this year. The men’s section normally gets busier towards Christmas with lots of watches being sold; this year, however, I have noticed a large increase in sales of bracelets and rings.

What are your plans for the future? Are there any development ideas in the pipeline?

We are constantly on the lookout for new and exciting things to bring to the shop, whether it’s new brands, new items or new styles. We will be having a bit of a makeover in the New Year, which hopefully will bring even more customers through the door.

Jewellery FOCUS

October 2012

Jewellery FOCUS

October 2012