jan.-feb.-mar. 2016 issue 13
international magazine
international information
www.jeweltimemag.com
Global market valuable products Exceeded 1 trillion. dollars. in turnover in 2015
International Symposium in Colombia Why emeralds are still popular
presentation Arteon Jewelry, EXIS Jewellery, Kouzoupis S.A., Avtzis Jewelry, Tzortzis P. George
World Gold Council Stable demand for gold jewelery remains 2015
Vacheron Constantin The most complicated watch in the world is here!
editorial www.jeweltimemag.com facebook.com/jeweltimemagazine
twitter.com/jeweltimemag
With very positive omens starts for Greek tourism in 2016 The exhibition “Greek Jewellery” which is the most important annual exhibition appointment of Greek silversmith, carried out at a time that has symbolic implications. In the last days of winter to spring to follow the Greek industry and jewelry crafts seeking its own “Lost Spring” battling with time and detecting new roads
In the last days of winter to spring to follow the Greek industry and jewelry crafts seeking its own “Lost Spring” and development beyond the current protracted crisis. The great ally of the jewelry industry is certainly the excellent course of Greek tourism. With 2015 now belongs to the past, as a country we recorded three consecutive years with record arrivals and receipts. “Three years in which, amid a general downturn, we exceeded all our targets,” they note, and representatives of hoteliers. With very positive omens starts for Greek tourism and 2016, and all indications so far suggest that the new year we will have another increase in arrivals and bookings. This trend is supported by the data released by the Bank of Greece a few days ago, according to which in the first nine months of 2015 (January to September), the number of arrivals in the country reached 22.6 mil., An increase of 9 1% compared with the same period in 2014, while at the same time the overnight stays increased compared to 2014
by 2.3% (more than 170 million.) and revenues reached 12.788 billion. euros, up 6 , 6% compared with the previous year. Certainly Greece is not only tourism. They are problems, and bills are coming to vote for insurance and tax, which exacerbate and polarize the social climate and create explosive conditions for the normal course of business for which it is assumed that all rulers occasionally cut. However, the “Greek Jewel”, the largest international jewelry exhibition in Greece, as shown by the experience so far in recent years, with the continuous increase in traffic, exhibitors and exhibition area, can be a springboard for a positive year for the Greek jewelry. Highlighting the characteristics of Greek production and originality in design concept, refreshing contacts and collaborations Greek producers with overseas markets, and giving new life and optimism for the days of the “spring” that all hope will come from “tomorrow”…
Publisher Tasos Spanoudis
PROPERTY Spanoudis Anastasios, 2 Parnassou Street, 105 61 Athens, Greece tel.: +30 210 32 33 394, fax: 210 32 33 395, www.jeweltimemag.com, e-mail: info@valkat.gr, info@jeweltimemag.com - www.facebook.com/jeweltimemagazine - twitter.com/jeweltimemag PUBLISHER Tasos Spanoudis EDITORIAL MANAGEMENT : Dimitris Stamoulis, CREATIVE ART DIRECTOR: John Kanakis, PUBLIC RELATIONS MANAGEMENT: Mina Dimopoulou, COPY-EDITING: Antonia Patrinou, PHOTOGRAPHY: John Soulis, all4mat studio, ACCOUNTING: Mirella Bitali It is prohibited to republish, produce and transmit, with any audiovisual mean, all or part of the magazine, without the written permission of the publisher.
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index news 10.
Changing of the guard in Cartier Resigned CEO Quercize
11.
The Kimberley mines “changed hands” De Beers has sold its oldest mine
watch 16.
Vacheron Constantin The most complicated watch in the world is here!
18.
Grand Prix for watches The ... Oscar watches the Greubel Forsey
22.
7th Forum High Watchmaking Detecting new trends in the international economy
23.
Swiss watch industry “Stress” for smartwatches and “hard” franc
trends 12.
Global market valuable products Exceeded 1 trillion. dollars. in turnover in 2015
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index presentation 24.
Arteon Jewelry The art of handmade jewelry
gemologies 36.
International Symposium in Colombia Why emeralds are still popular
26.
EXIS Jewellery 30 years of Jewelry with style
28.
Kouzoupis S.A. Handmade exclusive jewellery creations inspired by Greek history
30.
Avtzis Jewelry Jewellery high inspiration
32.
Tzortzis P. George Timeless design of high quality
auction 34.
Colored Diamonds The biggest auctions of 2015
38.
Diamond 1.111 carat Botswana Discovered the second largest diamond ever
39.
Historical agreement SELF-GUBELIN Harmonizing color criteria for rubies and sapphires
precious metals 40.
World Gold Council Stable demand for gold jewelery remains 2015
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ΤZORZTIS P. GEORGE SILVER AND GOLD GREEK JEWELRY 61-63 Chalkis str. Nea Ionia 142 33 Athens Greece Τel.: +30 210 2759373 - +30 6972 860270 email: tzortzis.g@gmail.com
news
Changing of the guard in Cartier Resigned CEO Quercize Editing: Dimitris Stamoulis
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or “personal reasons,” resigned from his position as CEO of the firm Cartier o Stanislas de Quercize, according to a statement of the parent company Richemont. This change, however, quickly and effectively treated as the Quercize remained at headquarters role in the Richemont group, assuming the role of President of the French Richemont. The Cyrille Vigneron, current president of LVMH Japan, who worked in the group Richemont from 1988 to 2013, mainly in the Cartier house, will replace Stanislas de Quercize from January 1, 2016. Its formal announcement followed a series of reports which were for serious health problems facing the historical strain of Richemont by Reuters indicate that suffered from overwork. The Richemont anointed Quercize CEO of Cartier in 2012, extracting it from the house of Van Cleef & Arpels, where performing CEO debts since 2005. In addition to Cartier, he was a high executive in various brands of Richemont, while the service was and the presidency in the United States Cartier. In a statement to the media by the President of Richemont Group, Johann Rupert, he regretted the fact that “Stanislas decided to resign,” but stressed that “we have to accept his decision.”
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news
The Kimberley mines “changed hands� De Beers has sold its oldest mine Editing: Dimitris Stamoulis
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e Beers has a few days ago signed an agreement to sell the oldest diamond mine, the historic Kimberley Mines in South Africa. The Deal was a con-
sortium of two mining companies, for the amount of $ 7.2 million. The new owners of Kimberley is companies Petra Diamonds Ltd. and Ekapa Mining (Pty) Ltd. which acquired the mine with the consortium that has a name Ekapa Minerals (Pty) Ltd. The Ekapa company will have slightly larger share, and acquired 50.1% of shares, while at the Petra remained 49.9%. The agreement includes the transfer of the remains from the diamond mine and facilities of at aggregates, vehicles, processing plant, mining equipment colleagues etc. as well as the mine workers and what other assets belonging to De Beers. Notably the aggregates includes those materials which have undergone an initial separation to detect diamonds, and often during the repetition of this process, are identified and new stones which are in the first phase were not detected. The Ekapa company will assume the ad-
dress of the new Kimberley Mines joint venture as chief executive will assume the CEO and founder, Jahn Hohne, Gemologist of GIA. H Ekapa is a medium-sized mining materials processing company (TMR), which for 25 years was active in Kimberley
mine. The company Petra based in London and already operates five mines, four in South Africa and one in Tanzania, where recently discovered a pink diamond 23.16 carats. Owned include underground mines Kimberley Underground, consisting of the most historic underground mines Dutoitspan, Wesselton and Bultfontein area. These are mines that Petra bought from De Beers of early 2000. De Beers has been announced since last spring that seeks a buyer for the Kimberley mines, and had even announced that before the final signing of the sale agreement had expressed concern over seventy buyers. Note that the Kimberley mine operated from 1868, while twenty chronai later, in 1888, officially received the property to De Beers.
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trends
Global market valuable products Exceeded 1 trillion. dollars. in turnover in 2015 Editing: Dimitris Stamoulis
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he global gemstone industry surpassed in turnover to $ 1 trillion in 2015, the category of jewelry and watch to know a small but rising, despite the ongoing global economic crisis. According to the study company Bain &
Company prepared especially for luxury products - ÂŤLuxury Goods Worldwide Market MonitorÂť - and announced in November, the total turnover for the year reached 1.12 trillion. dollars which is an increase of 5% compared to last year and kept constant market growth rate.
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trends
The expense regarding personal -Category luxury which includes jewelry and rologiaamounted to 253 billion. dollars, which is an increase of 13%! In the study, the Bain & Company company recognizes three macroeconomic factors that affected the market during this year. First, the strengthening of the US dollar. The strength of the US dollar discouraged tourists to visit as their holiday destination the United States, pushing mainly with European countries and bought luxury products they desire. Second, the Chinese stock market crisis which affected the US consumer confidence. And thirdly, the fall in oil prices, which reduced the wealth of the wealthy classes in the more vulnerable economies, as they mostly spend to acquire luxury goods. International markets During 2015, the strengthening of the US dollar continued to result in consump-
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trends
tion restrictions in America. Shopping malls pressured significantly due to the reduced consumption of both visitors as tourists and permanent US residents. In response, the commercial world mobilized directed channeling tourist flows at top outlet stores and local malls in search of suitable opportunities and offers. While significantly strengthened and Online sale of luxury products, according to the study by Bain & Company. Canada had a slight improvement in luxury goods sales as had to face less competition from the US, because of the strengthening of the dollar, as mentioned. The study also refers to large trading markets of the most sought-after cities in the world, in terms of luxury products. Among them stands out as New York, followed by Tokyo, Beijing, Milan and Paris.
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trends
E-commerce The online shopping failed to emerge “victorious” in 2015, as both of American and Europeans traders continued to react positively to the growing demand of their customers for online and multi-channel offerings through the internet (omnichannel marketing). Also, the social e-commerce (social e-commerce) has begun to develop, according to the study, with the buttons “buy” to transform the role of social networks by simply referring to the website of a commercial shop online market in social platforms . We also trade via mobile phone evolves into a central and booming shopping channel, with wearables devices potentially be converted into “new frontier for mobile”, according to Bain & Company.
products of their money, in the background of an economic environment affected by the ongoing economic crisis. Although growing at a “slower” pace, the market for luxury jewelery continues to outperform on all of the luxury goods market, as the jewels remain among the top preferred investment, thanks to the intrinsic value of the precious raw material. Also noting the booming global demand for diamonds, as pointed out by Bain & Company, a trend that continues to grow, albeit at a more moderate pace. Other labels Some other interesting design highlights are: -The Market for personal luxury goods is still mainly a western affair, but “driven” by the masses of consumers “without borders”, ie those consumers who travel everywhere and spend anywhere.
Discounts The US, Europe and Japan are considered the areas where sales through discounts and promotions have the greatest penetration for 2015, meaning that in these regions have opened and operated most outlet stores.
- Consumers from more mature markets are more demanding and more open-minded.
Watches and jewelry The Bain & Company study of notes that expensive luxury accessories, which include jewelry and watches, characterized by the tendency of ‘polarized’ behavior during the previous two years. The 2015 global sales of watches recorded a fall of 6% compared to the previous year, affected by the recession that hit Asian economies. This trend has been ongoing since 2013, the year in which the worst performance of the Swiss watchmaking was recorded in exports since 2009. On the other hand, global jewelery sales increased by 6%, as well as point out the authors of the study, a large percentage of buyers choose the jewelry as investment
- The retail stores and mono-brand (ie a single brand) are still the most popular forms of investment.
continue to invest in it.
E-commerce begins to show problems, despite the fact that even the brands
“For the past several years, we have referred to the” new normality of luxury “, characterized by the slowdown in the market of personal luxury goods,” said Claudio D’Arpizio, head of the writing team of Bain & Company study. “Now, we begin to feel the effects of the recession. The challenge for the luxury brand in this environment is how we manage to successfully navigate through a very volatile and unpredictable economic environment. “
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watch
Vacheron Constantin
The most complicated watch in the world is here! Editing: Dimitris Stamoulis
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he Swiss Haute watchmaker Vacheron Constantin announced that constructed the most complicated watch in the world, a creation that took approximately nine years of hard work by the company’s technicians. Codenamed Ref. 57 260, the pocket watch with double dials and consists of 57 mikromichanismous over 2800 components. As for the value of the house watchmaker Vacheron Constantin did not reveal the price of the watch, according to the desire of the anonymous collector who also ordered this
watch. Among the mechanisms of including a number of young people who presented for the first time, for example, the double chronograph regression “rattrapante”. The new chronograph can be read by the user in the same way it is done in a conventional chronograph. What makes really unique this chronograph is the fact that while the two indicators move seamlessly from the same axis, however never meet. They operate on two separate scales on two opposite sides of the dial. Another innovative mechanism is the dual perpetual calendar function, which gives
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watch
the watch its ability to provide three completely different calendars readings, one for the Jewish calendar and other two for the Gregorian. According to Vacheron Constantin, because of the long duration of the Jewish calendar change cycles and differences with the Gregorian calendar, the creation of an integrated, functional mechanical Jewish perpetual calendar was impossible before the construction of model Ref. 57260. “Very highly complex mathematical calculations combined with lunar months and solar years and all these data were transcribed in a not merely functional clock mechanism, but in an elegant, logical and easy to read from any user clock mechanism” he commented a representative of the high Swiss watchmaking house. This is an example of modern orologopoiitikis genius. Regarding the Gregorian calendar, autodial, beneath the position of the celestial map. The cage he has received the name armillary astrolabe which means, as a remembrance of this famous astronomical instrument of Greek antiquity. Notably the armillary sphere tourbillon constructed more lightweight materials was possible, according to Vacheron Constantin, to minimize the effects of gravity on the balance wheel (balance wheel), and the other organs of the escapement.
matically fixes the appropriate number of days of the month, and leap years can be read on the display using the retrograde date, day of the week and months of the dial. The Gregorian calendar is offered in two versions: either the traditional calendar, or professional calendar system known u j as ISO 8601, a numbered system that uses 52 weeks and seven days. The watch has three possible types of ring: the standard mode where ringing ringing automatically at each passage from the position of the fourth hour, the night mode where the tinkling function off for each post from 8 to 22 hours, and the mute, where the ringer can be deactivated (switched off), when not desired. The cage containing the “armillary” tourbillon escapement where the clock is enclosed, is visible through an opening in the
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The most complicated watch in the world announced that built o Haute Swiss watchmaker Vacheron Constantin. The ref clock. 57 260 brought many innovative mikromichanismous.
watch
Grand Prix for watches
The ... Oscar watches the Greubel Forsey Editing: Dimitris Stamoulis
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he 15th Grand Prix d’Horlogerie de Genève (GPHG) or Watchmaking Grand Prix, which is known as the watches Oscar, held in Geneva on October 28, at the Grand Theatre of the beautiful Swiss city. A grand jury of 26 experts accredited watchmakers and collectors have chosen 17 top watches of the year for as many categories of the competition and handed awards in watchmaking that stood with their creations for 2015.
Tourbillon 24 Secondes Vision from Greubel Forsey
Golden Index award The top prize, known as the “Aiguille d’Or” (Gold Index) was the watchmaker Greubel Forsey for the Tourbillon 24 Secondes Vision watch. This clock was first introduced by Greubel Forsey in high watchmaking salon SIHH 2015 year, proving that only eleven years old company founded by Robert
Greubel and Stephen Forsey is able to create stunning pieces. The Tourbillon 24 Secondes Vision is a watch equipped with a rapidly rotating tourbillon 24 seconds with 25-degree tilt angle. The mechanism is first visible from the back of the frame in a watch Greubel Forsey, protected under a dome of sapphire crystal. Regard-
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watch
Tudor Pelagos from Tudor
ing the display, the opening mechanism is positioned at the position 9, while the understated elegance prevails. The hour and minute indicators are lance-shaped, brushed steel, while the numerical indications of the hour and minute lines are blue enamel. The logo of watchmakers, Greubel Forsey, is made of gold and positioned just below the box 12, while there is also a smaller and distinctive dial indicator of seconds in the 4 position.
the barrel staff (0.115 mm), the chronograph gear finger (0.06 mm). The Piaget, also managed to secure the energy autonomy clock 50 hours, a small seconds display and dual time indicator.
Chronograph award The chronograph watch -Chronograph Watch Prize- award was given to the watchmaker Piaget Altiplano Chronograph, which broke two records fineness, the mechanism (only 4.65 mm thick) and the frame (8.24 mm thickness). The mechanism, Caliber 883P, based on Piaget 880P, the thinnest automatic mechanism that currently exists in the market. The impressive thinness but identifies and other key elements of the watch, such as the cannonpinion gear (0.12 mm), Altiplano Chronograph from Piaget
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Sports watch award The Tudor took the sports watch prize -Sports Watch Prize- for the watch Tudor Pelagos, an elegant retro style, diving watch that is waterproof to a depth of 500 meters. The frame is made of lighttreated titanium, while the device is designed and manufactured by the same watchmaker Tudor. Better mechanism award The hard competition featuring the best mechanism brought in the first place and winning the Exception Watch Prize clock Charming Bird of Jaquet Droz. The frame is made of white gold and the dial is surrounded by domed sapphire crystal. But what impresses is a highly realistic mechanism “singing bird�
watch
Charming Bird from Jaquet Droz.
that operates with a piston system that appears from the display. Award for best Tourbillon The Ulysse Nardin won the category prize Tourbillon Watch with Ulysse Anchor Tourbil-
lon, which is the first watch equipped with a proprietary constant leakage power system, made entirely of silicone. Award for best art clock The Blancpain Villeret cadran Shakudō received his artistic clock prize -Artistic Crafts Watch Prize-, impressing the judges with katapliktikiapeikonisi the display of the Hindu god Ganesh with elefantomorfo head, sculpted by ancient Japanese technique Shakudō. This result was achieved by using an alloy of copper and gold which imparts a dark blue-black patina - which encharachtike elaborate and then followed by the technique damascening, which is the technique of injecting a metal into another metal which functions as a base. This watch belongs to the Metiers d’Art collection of Blancpain and has a frame than 45 cm from pink gold and a uniquely styled manual winding mechanism, Caliber 15B, which is visible through the transparent back of the frame. Award best watch Calendar Hermès won the award in the category Calendar Watch Prize to watch Slim d’Hermès QP. This is a watch that is the new member of the family of Slim d’Hermès family, with case of pink gold 39.5 mm and mechanism perpetual calendar, which is the basis of Caliber 1950, with an additional section, produced by Jean-Marc Wiederrecht and in Aghenor group. The display has a display of four years, which shows the months and leap years, and features a smaller display Dual time / GMT and date, and indication of the moon phases, represented by a disk of white mother-of-pearl and a sky aventurine. This year, finally, the best female prize Clock
Ulysse Anchor Tourbillon from Ulysse Nardin
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watch
Villeret cadran Shakudō from Blancpain
- Ladies Watch Prize- took the Iublot for the Big Bang Broderie clock. It is a timepiece that pays tribute to ancient Swiss embroidery of Saint Gall. The display shows an embroidered skull decorated with 11 diamonds, others embroidered arabesques decorate the bezel and strap. All awards with clocks winning are: Aiguille d’Or” Grand Prix: Greubel Forsey, Tourbillon 24 Secondes Vision
Ladies’ Watch Prize: Hublot, Big Bang Broderie Ladies’ High-Mech Watch Prize: Fabergé, Lady Compliquée Peacock Men’s Watch Prize: Voutilainen, Voutilainen GMR Chronograph Watch Prize: Piaget, Altiplano Chrono Tourbillon Watch Prize: Ulysse Nardin, Ulysse Anchor Tourbillon Calendar Watch Prize: Hermès, Slim d’Hermès QP Striking Watch Prize: Girard-Perregaux, Minute Repeater Tourbillon with Gold Bridges Mechanical Exception Watch Prize: Jaquet Droz, The Charming Bird “Petite Aiguille” Prize: Habring2, Felix Sports Watch Prize: Tudor, Pelagos Jewellery Watch Prize: Audemars Piguet, Diamond Punk Artistic Crafts Watch Prize: Blancpain, Villeret, cadran Shakudō Revival Watch Prize: Piaget, Extremely Piaget Double Sided Cuff Watch Innovation Watch Prize: Antoine Preziuso, Tourbillon of Tourbillons “Horological Revelation” Prize: Laurent Ferrier, Galet Square Special Jury Prize: Micke Pintus, Yannick Pintus, Jean-Luc Perrin. The three Vacheron Constantin watchmakers who developed the Reference 57260 watch. With public voting via the Internet and the various clock reports, the audience award - Public Prize- received the Antoine Preziuso watch, Tourbillon of Tourbillons. The awards were served companies in London under the Salon QP held from 12 to 14 November.
Slim d’Hermès QP from Hermès
Big Bang Broderie from Ηublot
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watch
7th Forum High Watchmaking
Detecting new trends in the international economy Editing: Dimitris Stamoulis
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edicated to the “future of progress” was the 7th High Watchmaking Forum (Forum de la Haute Horlogerie) held in the Swiss city of Lausanne on 18 November. As was the case in previous meetings, this year’s event included presentations and speeches by various distinguished personalities, who came from a wide range of horizons, including academics, scientists and politicians who came to share their experiences and their vision. Of particular interest were issues such as innovation in China, the complexity of the companies of high watchmaking industry, examples of social progress, the situation in Europe and the dilemma of individuals on the “limits” of the theory of relativity. These are only some of the topics discussed in this forum, and a brief review follows them. Enrico Letta, former prime minister of Italy and dean at the Paris School of International Affairs at Sciences Po, thoroughly discussed the economic situation in Europe and more specifically on the developments following the tragic terrorist attack in Paris, set up the subject of “more” or “less” Europe. As stated, without further consolidation of unity in Europe, the “European project” has little chance to stand the test of time. He talked about the need for a coherent Europe with a strong core, able to balance the North / South divide in economic terms and the East / West on the issue of metanastefttikon flows. Michael Green, author and economist, specialist in social progress, stressed that if there is an index that is considered the ultimate benchmark in the economy, it should be definitely the GDP, which was introduced in 1934 in the United States and has been since as a measure of performance of nations. “ Today, the concept of GNP itself is in question for the simple reason that it fails to take
into account the concept of social welfare, a factor that should in fact be strengthened as a consequence of the creation of wealth. This attitude is supported by Michael Green, who has developed his own “tool”, the social progress index (Social Progress Index). Now it preferred by many countries as a complementary indicator of GDP and is based on 52 indicators. The SPI, for example, no longer simply consider the health costs of a given economy, but rather the life expectancy of the population: an iconoclastic and very positive approach. Winter Nie, professor of Management at IMD, mentioned in different innovation of China. As he said, twenty years ago, those who expected to dominate China in the global economy were considered at best delusional dreamers. However, the dream has become reality, with the Chinese economy today ranks second worldwide so far behind the United States. This impressive growth is driven by the country’s companies are now being studied rather than mainly for their amazing ability to learn from their competitors, or better about how they copy them, but instead to innovation processes that have been put in application. How else can one explain the unprecedented hegemony have conquered some of these companies, such as Huawei, number one telecoms equipment company in the world and third world in smartphone industry? For Winter Nie, the magic formula is to mix pragmatism and innovation cultivated by entrepreneurs who are confident about their ability to charaxoyn the appropriate path to their consumers.
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watch
Swiss watch industry
“Stress” for smartwatches and “hard” franc Editing: Dimitris Stamoulis
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reat concern and reflection is scattered in the Swiss watchmaker ever rising demand trend for so-called “smart watches”. The smartpwatches gaining more and more consumers and this is reflected not only in the different consumer behavior surveys in the world, but in a recent a survey by Deloitte LLP. According to this research published in the agency Bloomberg, the pessimism of Swiss watchmaking for the future of this traditional for the country, industry is listed as the largest of four years. Specifically, 41% of Swiss presidents and CEOs indicates that the outlook for the industry in the next twelve months will be negative, while only 14% of respondents consider that it will be positive. These are the highest rates of ... frustration and pessimism recorded by Deloitte since 2012, the year he began to conduct annual surveys on the state of Swiss watchmaking. In her research, Deloitte points out that “the Swiss watch industry is at a turning point.” And it is not only the issue of the new technology of concern, but concern exists for another issue: that of large-enhancing rate of the Swiss franc, which makes it a very hard currency, which ultimately undesirable for the manufacturers of the watch of Switzerland. How can this be explained? The fact that so now, for the world consumers, the anyway expensive Swiss watches are even more expensive. It is significant that 69% of managers surveyed believes that exchange circumstances constitute a major threat to the industry.
Another problem that has arisen is the slowdown of the Chinese economy, which has reduced the desire of the Chinese consumer. And the final blow comes from another survey, this time of Research Now, showing that more than 60% of Chinese people declare their intention to acquire «smartwatch» next year! Certainly the Swiss watchmaker not stay with crossed arms after the invasion of Apple Watch in the windows and even the domestic establishments. The Montblanc of Financiere Richemont launched its technologically advanced «e-Strap», the TAG Heyer presented Connected, while groups and Mondaine Swatch also heralded the construction and chroniclers of these smart devices. And on the other hand, Apple to win prestige and glamor has signed collaboration with Hermes to take on the elegant “tying” of Apple Watch on the wrist.
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presentation παρουσίαση
The art of handmade jewelry Gold and silver are transformed into modern and classic high quality jewelry One of the most important companies manufacturing silver and gold handmade jewelry is Arteon, which was founded in 1990. At its premises performed both the design and manufacture of jewelry, which is made by combining traditional handicraft methods together using innovative technology.
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he plans Arteon follow contemporary fashion trends and use the metal in various shades, and semiprecious stones and enamels in bright colors combining the original idea to the classic style. The style of jewelry is in perfect harmony with the overall image of the company and addressed to women, men and children.
The Arteon woman addressed to women of all types and mood that wants to stand out at all times of the day by selecting the luxury at the right price. The company offers two female collections a year, the first in February and the other in September.
Specifically, Arteon designs, manufactures and markets: • Women’s bracelets, rings, necklaces, earrings and pendants • Kids bracelets, rings, necklaces, earrings, pendants and brooches baby for welcoming the newborn • Men’s bracelets, rings, necklaces, cuff links and key rings
The series Arteon men intended for the male audience, presents designs minimalist style of metal and leather for every man who wants to vary.
Women turn Arteon characterized by luxury, glamor and design.
The series Baby Arteon consists of decorative charms and nannies with playful
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presentation παρουσίαση
designs and vibrant colors that adorn the crib, stroller and baby clothes rouchakia, as well as jewelery collections for small ladies! A key element in the “philosophy” of Arteon is the orientation of the quality of jewelery offers, which always retains high despite its continuing effort to reduce costs. Stationary target people of Arteon is immediate and excellent customer service and commitment to them in terms of quality and trade. On the other, their vision is the continuous increase awareness of the company and its products and dedication to the brand inside and outside the Greek borders.
ARTEON JEWELRY SHOWROOM: PAGEOU 4 THESSALONIKI GREECE +30 2310 543311 www.arteon.eu
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presentation παρουσίαση
months, our designers’ team present to the market over 150 new designs.” Head of this design team is the founder of Exis, who has the final responsibility of the new proposed designs that the company offers to its clients and partners.
EXIS JEWELLERY 30 years of Jewelry with style Silver creations classified at the highest level of design and manufacturing quality Combining over thirty years of presence in the top of the global jewelery and innovation, provided by designers with exceptional talent, Exis Company offers jewelry classified at the highest level of design and manufacturing quality.
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xis jewellery was founded in Athens by Theodoros Diamantopoulos. Today, after three decades of continuous creativity continues to sculpt silver and to offer silver jewelry of high quality, with “personality” beyond the established of the commercial market. Th. Diamantopoulos, speaking at Jewel Time, described the way in which the company operates in the creative and productive part. “Every four
Cooperation with Swarovski Exis creates unique jewelry collections exclusively with swarovski crystals, as since 2007 a deal has been made with the Austrian Swarovski AG by which it received the unique worldwide code (184 0020) with quality branding “Swarovski Elements” accompanying all the jewelry. All jewelry are designed and manufactured in the standard facilities of Exis in Athens, where the quality control is conducted by the production team, with the support of managers, sales representatives of the Greek market and sales representatives from abroad. The distribution of Exis Silver jewelry is made through the sales network of the company and authorized dealers. Online shop Since 2013, the online store www.exisjewellery-b2b.gr is available, in which one can search and choose from a wide range of collections, such as children’s jewelry, enamels, Swarovski collection etc. The collections available through the website of Exis are: Children jewellery, Arabesque, Enamels, Synblegma, Butterflies, 3D Crystal Butterflies, Flowers & Leaves, Webs, Swarovski line 1-2, Desing, Handmade diamond wire, Silvercolor, Chevallier, Crumpled Silver, Rainbow and Raindrops. The Exis jewelry are made of 925 silver of guaranteed content. They are finished entirely by hand for maximum quality. They are Rhodium Coated - Rhodium Plated for more protection that helps them not oxidize easily, as it happens with simple silver jewelry. Finally, it should be noted that they contain no nickel, they are Nickel free. If the jewelry is made from crystalls or contains nonsilver Swarovski
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presentation παρουσίαση
elements, it is always accompanied by the warranty “Swarovski elements” which indicates in the most valid way the undeniable quality. Guarantees Exis sets itself apart from the competition as it guarantees to its customers that for any possible manufacturing fault the client has the option to replace immediately the jewelry with a flawless one. It should be noted that all products are designed by the designer and founder of the company Th. Diamantopoulos and they are unique regarding their design. They are manufactured at the company’s facilities in Athens by Greek hands and has been certified by ELOT EN ISO 9001:2008, and also Exis keeps the highest import manufacturing standards of the U.S. and European Union, because in these areas is where its jewels are exported.
exis jewellery
5 Leocharous str, 105 60, Athens Greece Tel.: +30 210 3231552, FAX: +30 210 3217797 www.exis-jewellery.gr email: sales@exis-jewellery.gr
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παρουσίαση presentation
Handmade exclusive jewellery creations inspired by Greek history
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he goldsmith workshop founded by Anthony Kouzoupis in 1947 at Constantinople, after 65 years of continuous growth, has developed today into the company “Kouzoupis S.A” of Athens, one of the most respected creators of exclusive handmade jewellery. Maintaining the experiences and values of the past, the firms’ mission is to safeguard and pass to the future generations, the Hellenic jewellery tradition, which started 5.000 years ago and is still developing. Kouzoupis S.A, uses the various Hellenic history periods as point of reference and inspiration for the firm’s jewellery. The various Ancient Greek, Byzantine and Modern Greek collections, are all handmade creations by highly experienced, skilled, talented and dedicated craftsmen in the field of quality jewellery. Our jewellery categories are: - Ancient Greek - Byzantine - Modern Greek Our jewellery is: - handmade - made of gold 750 (18K) and 875 (21K) white, yellow or
black - set with precious stones such as sapphires, rubies, emeralds and diamonds Our jewellery bears a hallmark indicating: - the quality of gold 750 (18K) and 875 (21K) - our manufacturer code Ωξ82 - the quality standards of our jewels comply fully with the international rules and regulations Our objectives are: - Maintenance of handmade techniques, that gives to our creations distinctive look and finish. - Creation of high quality jewellery that connects the tradition of the past with the present. Our philosophy is: - To surpass ourselves in the art of jewellery, by creating unique pieces of art, that will respond to the needs of the present day consumers. Exports to Europe and America The exclusive jewellery designs of Kouzoupis S.A and its consistent quality has earned the lovers of jewellery in Greece and around the world.
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παρουσίαση presentation
The company has been engaged in exports for many years in several countries, both in Europe and in America, focusing mainly on the markets of Germany, Spain and the USA. Also maintains local offices with permanent representatives in New York and Munich. Exhibitions in Greece and abroad Having a dynamic production, high quality standards and fashion design, our company has managed to establish its products both in Greece and abroad. For the best promotion of its products, the company participates in Greek exhibitions in Athens and Thessalonica, as well as worldclass exhibitions such as New York, Las Vegas, Munich, Frankfurt, Madrid, Munich and Basel. Our next goal is the establishment of our exclusive jewels in Russia and the Arab countries. Awards The Athens Gold & Silversmiths Association award to the firms founder Anthony Kouzoupis, for the continuous and dedicated contribution in maintaining the Greek jewellery
tradition, is a confirmation and recognition of our success. The company has also received award for the best participation in the international exhibition of Jewellery “Kosmima” in Thessalonica. Special Activities Our company designed and manufactured an entire line of unique and collectible jewels for the Olympic Games in Athens 2004. Among the various designs, the company manufactured the international symbol of the Olympic Games, the Olive Coronal.
KOUZOUPIS S.A. www.kouzoupis.gr info@kouzoupis.gr Tel.: +30 210 3228018
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presentation παρουσίαση
Jewellery high inspiration Devotion three decades in quality and customer service
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hen the talent, knowledge and passion combine in the field of jewelery, they can give small “miracles”. Many such wonderful creations offer customers the silversmith workshop founded by Panos Avci, a jeweler with its own important and eventful history in the field of Greek jewelry. Panos Avtzis has come a long way in the Greek jewelry, serving for over thirty consecutive years. He is a creator that is not compatible with mediocrity, repetition and “routine” on the bench construction. For this and always succeeds with a unique stability to create a collection of inspiring jewelry, having as main criterion and guiding principle
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of quality, integrity and imagination in the design and execution of projects. The company after three decades of excellent service to the numerous partners and customers, has now passed from father Panos Avtzis, his sons, John and Vangelis Avci, who continue as worthy successors to their father’s work, guided by excellent quality , impeccable raw materials and innovation in the design and final construction. Asking for Vangelis and John Avtzi is the best possible service elite clientèle of the company, but also to broaden the horizons of business, with a constant concern of outward investments and export business in markets-rings, such as the Russian market jewelry. Serving this pursuit, officers of the workshop expanded their activity and expanded on their inspiration and new fields of jewelry, with the belief that the new creations will re-
presentation παρουσίαση
ceive the same warm welcome and acceptance of all previous collections company . The company offers a wide range of jewelry such as bracelets, rings, brooches, necklaces and necklaces, pendants, earrings, crosses, identities. Main material used is gold and platinum with platinum. In many creations, precious metals ‘tied’ harmoniously with precious or semi-precious stones and pearls, certifying the company’s insistence on quality and valuable jewel.
AVTZIS JEWELRY Τel.: +30 210 9701109
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presentation παρουσίαση
TZORTZIS P. GEORGE Timeless design of high quality Gold and silver jewelry inspired by the ancient Greek tradition. The company George P. Tzortzis offers precious gold and silver jewelry, with dominant figure the timeless Greek symbol, meander, and emphasis on high quality and perfect finish. The jewelry collection of the company offers a wide range of designs from rings, earrings, bracelets, necklaces and pendants decorated with white and yellow meanders, with gold and silver as the main
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presentation παρουσίαση
material. It is no coincidence that the company George P. Tzortzis emphasizes the meander symbol, because this geometric pattern is met through all periods of ancient Greek art and architecture from the pottery of the Geometric period, decorative elements to the metopes of temples up to the shield of King Philipos. The company George P. Tzortzis offers handmade creations, drawing its inspiration from the ancient historical tradition of Greece in jewelry and recently invested in exports, armed with reliability, quality of materials and integrity of the product.
TZORTZIS P. GEORGE 61-63 Chalkis str. Nea Ionia 142 33 Athens Greece Tel.: +30 210 2759373 +30 6972 860270 e-mail: tzortzis.g@gmail.com
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auction
Colored Diamonds The biggest auctions of 2015 The large colored diamonds, bright red rubies and colorless diamonds proved that they were the most popular gemstones in auctions that took place the past year, in fact constituting the ten most expensive jewelry purchased at auction.
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he results in 2015 are no different to those of 2014, the year in which the jewelry sold more expensive compared to all other was «Zoe Diamond», a colored blue 9.75 carat diamond bought for 32.6 million. Dollars! And in 2015, then, a blue diamond came first, the «Blue Moon of Josephine»,
which is 12.03 carats, completely flawless, and was sold for 48.4 million. Dollars last November in Geneva in Sotheby’s auction house. Another diamond was bought by the same anonymous owners, the «Sweet Josephine», versus 28.5 million. Dollars, this time in the
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auction
auction house Christie’s, also last November. Third place this year captured the colored pink diamond 16.08 carats and the «Sunrise Ruby», a deep red ruby 25.59 carats. Apart from the precious stones and jewels that broke the record in last year’s auctions of the largest firms in the world, the eyes and the ... anonymous private money attracted some excellent masterpieces like the piano miniature with gold leaf 24 carat of Elvis Presley, which was sold for $ 610,000 last November. Also, the hand Omega Constellation watch that Elizabeth Taylor had donated to Richard Burton sold for $ 12,000 in September.
ket demand. Note that there is an increased demand for raw rubies from jewelery manufacturers. However, assessing the five auctions held by the Gemfields from June 2014 onwards, rubies earning preferences and market confidence are in particular those coming from the mine Montepuez Mozambique as their sales amounted to 150.8 million. dollars.
Gemfields Successful selling rubies The company Gemfields recently announced that as part of the sale at auction of high and middle grade rough rubies katefere to a turnover of around 28.8 million. Dollars, or $ 317.92 per carat. The auction took place from 14 to 18 December in Singapore and the success of the sale amounted to 98% in terms of volume of allocated blocks or 95% in terms of weight. The sale included rubies that were available in both raw and in processed form, but larger volumes of small stones and stones that are in direct correspondence with the mar-
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gemologies
International Symposium in Colombia Why emeralds are still popular Editing: Dimitris Stamoulis
The emerald color is so popular, in fact, even when surrounding inclusions, maintains the high quality and value, according to the International Colored Stone Association. In fact, an emerald with inclusions deep green color is most valuable in connection with a completely clean from inclusion, emerald. These inclusions often described as the format in which similar, eg moss or plant leaves, and sometimes called jardin, which in French means garden, a term that refers to the spring season. As the popularity of the emerald is still high and in today’s market, the market is trying to find ways to address some of the major problems regarding green gems.
The emerald is still at the top of global preferences.
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nyone not surprising that the popularity of emeralds lasted unchanged over the centuries. The most famous member of the family of beryllium is known to people of wealth and power from the first moment I was discovered. The beautiful, bright and radiant green color has become synonymous with unique beauty describing landscapes and reflects the optimism of spring.
Do it like ... De Beers The first International Symposium emeralds, designed to bring in communication all market sectors, took part in the capital of Colombia, Bogota, from 13 to 15 October 2015 were hosted many local and international experts in the field of emeralds from government agencies but also from the private sector, who analyzed the current problems facing the emerald market and new trends in. The symposium analyzed issues such as the management of raw materials, mining and various types of processing emeralds, their certification, nomenclature, technology, education and information to consumers and branding. The Fedesmereldas, as it was called the body that organized the symposium in Bogota, appreciate that this will yield a “harmony in the global industry of emeralds,� in an effort to harness relevant experience that has drawn the gemstone industry from similar actions and initiatives di-
The Gemfields is the dominant player in the global market emeralds.
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gemologies
The emerald color is so popular, in fact, even when surrounding inclusions, maintains the high quality and value. amond industry. Since the emerald is still at the top of global preferences regarding color gemstones, their demand remains very strong. Analyst Gemmological Institute of America (GIA), Russell Shor, noted that during his recent trip Hong Kong, noticed that the demand in the region remains very strong. As noted, 7-8 years ago, emeralds market faced some problems, but nowadays returned to very positive results. “For many years, the color green was out of fashion, but now has returned colder” added R. Shor. In this positive development role played by Pantone Institute, which he called “Color of the Year 2013” emerald, restoring in vogue and very soon in the shop windows, the green emerald. The Niveet Nagpal, spokesman Omi Gems, said that his company continues to see increased sales and high demand for green stone. “If there was a better offer high quality emeralds in the market, without increases in the price, we could possibly increase our activity with emeralds,” said the website of the National Jeweler. Another issue raised in his speech R. Shor are promotions Gemfields company, which has primacy in the extraction and marketing of emeralds, the lines of De Beers’ activities and marketing activities in the diamond area. Another noteworthy point is that the rise in demand for emeralds, beneficial functions and increasing demand for other green stones such as for example, peridot and tourmaline. The role of Colombia Today, the most important source of emeralds extraction and the place continues to provide quality emeralds in the international market is Colombia. Also notable source of supply is the emeralds stocks of Zambia Kagem, which currently operates the mining Gemfields, which has additional mines in Colombia. In fact, recently acquired Gemfields mines emeralds Coscuez in Boyacá state operating for 25 years, while licenses and contracts are covering approximately 20,000 hectares or 77 square miles, in Boyacá and other regions of Colombia. Another area rich in emeralds are Brazil, which ranks third in mining volume of green gemstone. Mining of emeralds are also in Zambia and India, as in parts of Pakistan and Afghanistan, but in which there is great suspicion that unlawful trafficking stones, due to the wars that exist in these Asian countries.
Reversals in the market The challenge for each gemstone in the international market has always been the relationship between supply and price. Until recently, the gemstone market dominated by a few big players who could control the allocated quantities and pricing based on their aspirations. But today, when Shor, the market moves in a more collaborative schemes as companies now believe more in maintaining a regularity in the supply of stones and capital flows despite the storage of their products. For jewelers, jewelery manufacturers and designers, this means that so have better possibilities to know that they have the emeralds you want when need. This in turn leads to a structure of a model is dominated by relatively predictable tariff, and stable supply, so that it can respond to a potential increase in demand.
the 1st International Symposium emerald successfully held in Colombia last October.
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gemologies
Diamond 1.111 carat Botswana Discovered the second largest diamond ever
Editing: Dimitris Stamoulis
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he President and CEO of Lucara Diamond Corp. Wiiliam Lamb realized that the phone call he received at 1.30 in the morning in one of the freezing nights in late November in Vancouver, Canada, will be either a very bad or a very good news. But he was lucky he was informed that the Karowe miners in the African country of Botswana, only mining had an amazing gem. It was a 1.111 carat diamond formula IIa which is to be recorded in the record books as the second largest diamond of similar quality that has never been found. Only the famous Cullinan diamond, weighing 3,106 carats is larger, which discovered before a century in January 1905 at the Premier Mine in South Africa. The Karowe miners spotted this unique diamond mining materials coming from an area where the same year he discovered three more great weight diamonds over 300 carats each, among them the stone which was sold by Lucara last July for the sum of $ 20.5 million. The President and CEO of Lucara can no longer startled by diamond discoveries size 300, 400 or 500 carats, but when informed of the diamond mining over 1000 carats the otherwise facing. “A thousand carats ... I
would be surprised everyone such a discovery,” he says meaningfully. This amazing diamond has a size of 65 mm x 56 mm x 40 mm, and is so large in volume not fit to be placed on existing Lucara evaluation machines that the company has in Botswana. For this stone will be sent to Antwerp, Belgium for further evaluation. However according to preliminary estimates of experts, the diamond of 1,111 carats are type IIa and «top» of color, namely D, E or F, and high purity as well. Note that another diamond mining company Gem Diamonds sold a 603-carat diamond, the “Lesotho Promise” for the sum of 2.4 million. Dollars in 2006, and Petra Diamonds received $ 35.3 million. For the sale of a diamond 507 carats in 2012. But the diamond Lucara is much larger than all the above and even the biggest ever discovered in Botswana. The company Lucara which holds only 0.83% of world diamond production, but has the advantage of having a very high rate of discovery of large diamond currently discovered large diamond using the recently installed new Large Diamond Recovery Machine (LDR) XRT. Note finally that in another mine, the company discovered and another large 813 carat diamond.
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gemologies
Historical agreement SELF-GUBELIN Harmonizing color criteria for rubies and sapphires
Editing: Dimitris Stamoulis The Swiss institutes gemology SSEF and Gübelin Gem Lab harmonized their standards regarding the color and quality criteria in their evaluation of colors “pigeon blood red” and “royal blue” which are widely used for flawless rubies and sapphires. The terms “pigeon blood red” and “royal blue” are used for too long to describe the top quality of these stones. However, until now there were some common agreed criteria against which precisely identify colors and quality corresponding to these two conditions, such as highlighting the two laboratories. Both SSEF and the Gübelin had developed on their own and independently of one another, their own stones classification and evaluation criteria used when these conditions. But today, in order to enhance transparency in the gemstone industry and to consolidate the rules of the market, both institutes have compared their criteria and proceeded to some changes in order to harmonize the quality and color standards. For a ruby or a sapphire to meet the conditions for use of these terms, their color should be “bold, saturated and homogeneous red or blue,” according to the two laboratories. The precise movements of the “color”, the “saturation” and “tone” are defined by a set of standard stone defined as master stones. The «pigeon blood red» described as a red color, free from such modifiers, such as blue or brown, although a fine purple color is acceptable. The body color of the stone which can be regarded as this color also
complemented by a strong fluorescence when exposed to ultraviolet light. The “royal blue” is best described as a “saturated” blue, either neat or with a very slight purple tinge. In terms of quality, conditions can only be applied for rubies and sapphires exhibiting excellent properties and there have been no changes of color and / or their clarity. Any type of treatment blocks the stones from being described by these color terms. Moreover, it blocks should be relatively free from visible to the naked eye or dark inclusions and must show a homogeneous color distribution with vivid internal reflections, according to the laboratories. The size of the stone is not taken into account, so as small rubies and sapphires can be assessed and classified qualitatively based on these two color terms. “Clearly, it is a strict criteria which means that only a very small percentage of rubies and sapphires qualify,” said Daniel Nyfeler, CEO Gübelin Gem Lab.
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precious metals
World Gold Council Stable demand for gold jewelery remains 2015 Editing: Dimitris Stamoulis
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emand for gold jewelery in 2015 moved to relatively stable levels after the last data became available from the World Gold Council for the fourth quarter, which ended with a marginal decline of 6 tonnes, to 671.4 tons. Together, the third and fourth quarter created a high demand for gold jewelry here eleven years. Specifically, the second half of 2015 rose by 2% reaching 1299.9 tonnes, when the same period of 2014 was at 1271.5 tonnes. In order to detect higher second half of the year should refer 12 years back in 2004, when demand had risen to 1410.7 tons. Summing for all last year, the annual global demand for gold jewelery recorded a decrease of 3% and 66 tonnes, and by 2480.8 tons decreased to 2414.9 tons.
Among the factors that played a role in the remarkable decline include economic and socio who influenced in different markets and countries in 2015. Demand for gold jewelry in countries like Turkey, Russia and the countries of the Middle East have experienced such problems that limited demand . However, as highlighted in the annual report of the WGC, there were a number of countries with positive developments, India overarching recorded a very good last year in the jewelry market. The Indian recovery The jewelery demand in India has made significant recovery in the second half of 2015, after a bad second quarter. The annual demand reached 654.3 tons (+ 5%), which was the highest level since 2010 and the third
The jewelery demand in India was 654.3 tons and was a record since 2010.
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precious metals
jewelery at lower prices. For the same reason, recycling gold jewelery fell by 10% and was limited to just 20 tons, as well as the low prices acted as a brake on jewelry sale. However it proved for another year, that Indian consumers have unwavering desire for gold jewelery, even when faced with very extreme conditions, especially weather, creating difficult situations in their daily lives, and compress the income of rural populations.
H China market dominated by 24 carats jewelry, holding 85% of the total turnover.
highest record on a yearly basis. The November and December moved very optimistic as on November 11 launched in Diwali, which is one of the most sacred festivals of the Indians, which marks the start of the wedding season. This period coincided with the meiositon price of the yellow metal, which enabled the Indians to procure their
China subsides In the fourth quarter of 2015, demand for gold jewelery in China recorded a slight decline of 1% or 2.8 tonnes closing at 202.6 tonnes. The annual decrease was slightly greater, as he moved to the 3% level (783.5 tonnes compared with 807.2 tonnes). The economic downturn and the turmoil in the stock market in the first half of the year were the primary causes behind this failure, which led to catastrophic consequences in the broader consumer sentiment. Note that the market is dominated by 24 carats jewelry, holding 85% of the total turnover, while the jewels 18 carat characterized by an upward trend, especially through newest jewelery collections.
Significant blow received the Turkish jewelry market as demand fell by 26% and limited to only 15 tons.
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precious metals
Demand for gold jewelry in the US increased slightly by 3% in 2015 and rose from 116.6 to 119.6 tons The rest of Asia Contradictory is the image of the jewelry market in other Asian countries. Positive demand for gold jewelery was initiated in Japan, Vietnam, Indonesia and South Korea, while the decline was similar image in Thailand, Malaysia, Taiwan and Hong Kong. In particular, Hong Kong paid the close dependence on neighboring China and the sharp drop in tourists who visit it. Impressive was the increase in demand in Vietnam, where in the fourth quarter increased by 31%, while annual growth reached 25%. Indeed, for 2016, the Vietnamese market is expected to move even further upstream. Turkey: The “sick man� Significant blow received the Turkish jewelry market as demand fell by 26% and limited to only 15 tons! The neighboring country was the victim of major geopolitical conflict in the region with the Syrian issue, but also with the repeated bombings, particularly in tourist areas and districts of Istanbul and other cities. The Turkish lira remained weak and this year, which resulted to remain high prices of gold jewelery. The neighboring countries of the Middle East rose by Iran exception. The demand in the region was limited to 224 tonnes, which is less than in 2012. As expected, the decline in oil prices and the ongoing wars in the region have led to a further reduction in demand for gold jewelry.
Fall in Russia The annual fall in demand in the Russian market more resembled ... precipitation, and reached 39% and was reduced to 41.1 tonnes from 67 tonnes in 2014. Demand literally collapsed in mid-2014, when the conflict began in Ukraine, while the fall in oil honor was another negative factor. However, the estimates of experts speak that the new year will be a slight recovery. Recovery in the US Demand for gold jewelry in the US increased slightly by 3% in 2015 and rose from 116.6 to 119.6 tons. The jewelry industry has benefited from the decline in gold prices during the third quarter, a period when many retailers have gone into filling products in order to cope with the increased demand for the fourth quarter Christmas. Stability in Europe In the Old World the jewelry market did not show significant differences compared to 2014. Slight increase in the demand for gold jewelry in the UK (1%), better course was in Spain (6%), and adverse effects were recorded in France (-5 %), Germany (-2%) and Italy (-3%). However, many analysts believe that markets like Germany and Italy have already reached their minimum limits and reasonably expected a recovery.
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