JEWELLERY EDITORIAL
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2014/07/30

The Kimberley Process Certification Scheme, a confusing name for a dysfunctional organization that no one outside the diamond industry understands because this august body decided long ago that consumers and others in the industry don’t matter.

 

The esteemed body of gentlemen (and a few ladies) met in Shanghai early June (in private of course) and in typical KP fashion issued a vague two-page statement nearly two months later on its website. I consider this progress as the last time the public portion of the KP website was updated was a full year earlier.

 

The discussion, when not welcoming or congratulating one another, centered on the Central African Republic (CAR) and reports that its diamonds are being mixed in with the KP certified diamonds.

 

I first learned about the decision from this story with the headline, “KP Wants Firm Action On CAR Conflict Diamond Trade”. I can almost see KP leaders shaking their fist at the head table in a display of how upset they are.

 

The Kimberley Process is Still a Mess

A Kimberley Process certificate

 

A year earlier the KP ordered the temporary suspension of diamonds from CAR because Seleka, an alliance of rebel militia factions that overthrew the CAR government, is alleged to use diamonds to fund illegal activities including arms sales and human rights abuses.

 

The suspension hasn’t stopped the group from selling their diamonds through KP channels. This is a dangerous organization that has nothing to fear from the KP. Why? Because a year after the ban, which hasn’t apparently worked, the KP in its most recent meeting has decided to use three of its committees to study and document the matter further and provide a report in September that would be ready for its annual November meeting.

 

The organization also urged more cooperation with the CAR government, the African Union and relevant United Nations bodies. And it has asked the representatives of its 81-member states to report to the KP and local authorities any incoming shipments of rough diamonds that they suspect may contain diamonds of CAR origin. All of these things should be part of the routine work of this organization.

 

The KP couldn’t stop Zimbabwe from selling its diamonds fraught with alleged human rights abuses and it will be just as difficult to stop Seleka from selling its diamonds.

 

I almost feel sorry for the KP. It’s a near impossible task to keep representatives from 81 nations from varying cultures with their own special interests to agree on anything. Add to this the new levels of danger and complexity in the world today and you have a very difficult task.

 

However, it appears that KP members only care about giving the illusion that there are no conflict diamonds being traded in the industry—and attending occasional meetings at posh resorts.

 

What is unforgivable is KP’s refusal to allow any public scrutiny. What is it hiding?

 

 


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2014/07/30

In the U.S., virtually any supplier of specialized goods or services is required to have some form of licensing and/or certification beyond a standard business permit. In most cases additional training and testing is required to qualify for the license. If you want to sell houses or cars, do nails, cut hair, give a massage or work on plumbing you’ll need to prove to the state that you have the proper training and skills in your chosen product or service. If you don’t, you can’t work. You can be liable for large fines or jail for operating without a license.

 

Yet there are no legal requirements for working in the jewellery industry. A repair jeweller can work on a customer’s treasured heirloom worth tens of thousands of dollars with no formal training or proof of skill and ability. The customer trusts a jewellery sales person to provide detailed information and accurate grading to guide them with a buying decision that may be equal to the price of a fine car or even a house. Yet there are no requirements for a jewellery sales person to prove their knowledge or ethics. An appraiser prepares a legal document describing the features and values of a piece of jewellery that third parties will use to make financial decisions. Yet legally someone with no training can be an appraiser. Anyone can open a gem lab and grade to their own standards without even proving that their technicians have any gemmological training at all.

Do we need to license jewellers?

Licensing is actually protecting the customers.

 

Indeed, the multi-billion dollar jewellery industry is an unregulated free-for-all where anything goes with very few consequences. Occasionally problem jewellers will be exposed and taken to task but all of the action takes place in the media or civil court, rarely in criminal court. Two recent cases illustrate the point: A Nashville jeweller made the news by using lab reports that exaggerate the grades of diamonds. And several well-known department stores were called out on national television for not fully explaining lead-glass filled rubies. But on the whole very few jewellers will be caught for misrepresentation, non-disclosure or any number of unethical practices that are common in our industry.

 

Maybe the time has come that our industry needs regulation. A bench jeweller should have certification for a variety of skills such as sizing, stone setting, or engraving just like an auto mechanic is certified in brakes, engines or air conditioners. A professional jewellery sales person needs to fully understand and communicate the complexities of gemstones, treatments, metals and style. Licensing could include requiring continuing education to stay current with the newest information. Appraisers would need training in valuation and legal procedures to get a license.

 

Licensing would be a big step in cleaning up our industry and getting us respect as professionals...but I don’t see it happening anytime soon. So that leaves us to regulate ourselves and we don’t seem to be doing a very good job of it. If we want a clean, ethical industry we need to clean our own yards first.

 

 


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2014/07/30

     Last time, in part 1, we have gone through the general big picture of the jewellery market in India. There are some key competitors within the market, in this session, we will give you an idea on the competitive landscape of the industry.

18K gold diamond pendant from Titan Company's Tanishq

18K gold diamond pendant from Titan Company's Tanishq

 

     Titan Industries Ltd’s Tanishq is the largest single jewellery brand in India, with around 130 stores in 79 towns. Titan also operates under the GoldPlus brand, making it three times larger than second-placed Joyalukkas in terms of retail sales.

 

     Rajesh Exports Ltd, which witnessed 62-percent increase in sales value in 2011, was predominantly an export-oriented player, targeting the domestic market by providing huge discounts and aggressive marketing campaigns including “Real Rate per Gram,” in which the company offers a real rate per gram of gold to buyers without wastage or charges. The company has a retail presence with 35 stores under the brand Shubh Jewellers and aims to expand this to 100 by 2015.

 

     Kalyan Jewellers launched in 2010 a new type of jewellery retailing service store with the opening of My Kalya stores in South India. The stores offer gold investment schemes, gold insurance, wedding purchase planning, gift vouchers, gold buying tips, jewellery education and the advance booking of purchases against gold price increases.

 

     In addition to domestic brands, local designers are popular and can be found in key cities across India. The presence of international brands in the Indian jewellery category is negligible as Indian consumers prefer local designs.

 

Table 2. Jewellery brand shares in India 2008-2011

Brand

Company

2008

2009

2010

2011

Tanishq

Titan Industries Ltd

2.6

2.6

2.8

3.1

Joyalukkas

Joyalukkas Holdings

0.9

0.9

1.0

1.0

Kalyan Jewellers

Kalyan Jewellers India Pvt Ltd

0.6

0.7

0.9

1.0

Gili

Gitanjali Gems Ltd

0.6

0.6

0.7

0.8

Malabar Gold

Malabar Group

0.6

0.6

0.7

0.8

Shubh

Rajesh Exports Ltd

-

-

0.4

0.5

Gaja

Shree Ganesh Jewellery House Ltd

0.4

0.5

0.5

0.5

GoldPlus

Titan Industries Ltd

0.3

0.4

0.5

0.5

TBZ

Tribhovandas Bhimji Zaveri Delhi Pvt Ltd

0.3

0.3

0.4

0.4

Reliance Jewels

Reliance Retail Ltd

0.1

0.2

0.3

0.3

Kirtilals

Kirtilal Kalidas & Co

0.2

0.2

0.2

0.2

Others

 

81.5

81.8

81.5

81.3

Source: Euromonitor International from trade associations, trade press, company research, trade interviews and trade sources

 


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2014/07/30

Japan Jewellery Fair is playing a prominent role for over 20 years for both local and international jewellery buyers as a place to stock up ahead of the Christmas and New Year season. But foremost the fair is a pivotal trading platform for Jewellery trade in Japan, which despite difficult economic times remains one of the largest, affluent and consistently strong jewellery markets in the world.

The show is bound to welcome more international visitors: According to the organizers Japanese jewellery suppliers are very popular at overseas exhibitions because of their competitive prices and superior product quality. The weakening of the Yen could will raise margins on jewellery by 25% compared to three years ago.

Japan Jewellery Fair 2014 - trade, design and entertainment

 

Building on last year’s success (see Japan Jewellery Fair picture gallery]), Japan Jewellery Fair 2014 will comprise of over 420 exhibitors from 18 countries and regions is expected to attract more than 15,000 jewellery professionals. The show will open its doors on August 26 at Tokyo Big Sight Exhibition Center.

Japan Jewellery Fair 2014 - trade, design and entertainment

The show announced three innovative pavilions:

Japan Jewellery Designers Association celebrates 50-year anniversary with a new pavilion. Leading members of the association will be exhibiting at the fair for the first time and showcase their originally designed jewellery. In addition there will be four other designer pavilions.

This year for the first time there will be a Re-Styled Jewellery Pavilion where buyers can meet leading companies of re-styled Jewellery. Re-styled jewellery, a thriving business trend in Japan, is has become a significant market segment with specialized Jewellery companies remodeling antique and vintage items for resale.

According to the organisers the strong tradition of working with platinum jewellery has put Japanese jewellery manufacturers at the forefront of producing high-quality bridal jewellery. The Bridal Jewellery Zone is a showcase of exclusive collections of advanced designs which reflect the latest market trends.

Japan Jewellery Fair will host a series of awards

The Jewellery Design Award, which is hosted annually by the Japan Jewellery Association, is the most prestigious jewellery design contest in Japan. The award is aimed at recognizing and celebrating the very best in jewellery designs and designers, and encouraging excellence in creativity, technique and skills.

The winners of this year's JJA Jewellery Design Awards will be announced and presented with their prizes at the fair ground on August 26th. The presentation ceremony on stage will introduce the top eight award winning jewellery items through a fashion show. As special guest, Ms Moeka Numata, the 2014 winner of the Miss Nippon Grand Prize beauty contest, will make an appearance.

Inaugural Award of Jeweller’s Choice “The Woman of the Year”

The presentation of the "Jeweller’s Choice: The Woman of the Year" award will be held on the stage on the morning of the second day, August 27th. To receive the award, the fair organisers of selected a woman from the worlds of show business, sports and society who is representative of fully enjoying and challenging life in a beautiful manner. This year, Ms. Hiromi Nagasaku, a Japanese actress, has been chosen as the “Woman of the Year 2014”: Hiromi Nagasaku is a highly popular and successfully actress in both big-screen films and in television dramas. She is one of the most famous actresses in Japan and is in high demand for film and TV appearances. She is a role model for contemporary Japanese women as someone who is able to effortlessly balance her life as a celebrity, a wife, and a mother.

Photo Source:  UBM Japan

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2014/07/30

The June Hong Kong Jewellery & Gem Fair  (June Fair) ended successfully on 22 June at the Hong Kong Convention & Exhibition Centre. The Fair, which celebrates its 27th anniversary this year, featured 1,894 exhibitors from 40 countries and regions. They showcased a wide range of quality fine jewellery and jewellery-related materials in over 70,000 square metres of exhibition space. The Fair welcomed 26,103 visitors from 117 countries and regions over its four-day run. Both exhibitor and visitor numbers are new records for the Fair. 

A number of the theme pavilions, including the Gemstone, Diamond and Pearl Pavilions, were re-located this year to respond to the demand for more exhibition space. “The growth in exhibition space is a milestone of the June Fair. By accommodating more exhibitors, the June Fair’s position as a diverse mid-year marketplace is further strengthened. The encouraging visitor figures further confirm the popularity of the Fair in international markets,” said Celine Lau, Director of Jewellery Fairs, UBM Asia. 

Ms Lau continued: “The roughly 10-percent growth in the number of visitors from Asia compared to last year’s edition shows that the region continues to be the engine of growth for the luxury jewellery market. The growth in the number of visitors from mainland China and India remained at double-digits this year. This proves these two markets are still robust and growing. We also noticed an increase in the number of buyers from markets outside Asia; Mexico, Tanzania and Colombia were among these markets. This illustrates development of jewellery markets in various regions.” 

The total number of unique visitors over the four days was 26,103, with a record of 48,248 visits during the fair period. The visitors came from 117 countries and regions that 9,332 visitors (36 percent) were Hong Kong based while 16,771 (64 percent) of the crowd were from overseas.

Special Events 

Press Conference 

A press conference on the “JNA Awards 2014 – Announcement of Honourees” was held on 19 June.  The JNA Awards is oganised annually by JNA. It honours innovators and leaders in the international jewellery industry in manufacturing, branding, retailing, best business practices, innovation, sustainability and outstanding contribution. The Awards Ceremony & Gala Dinner for this industry-wide event will be held in September. 

27th June Hong Kong Jewellery & Gem Fair concludes on a high note

Preview of Mineral Gem & Asia 

Mineral & Gem Asia, a comprehensive trade fair organised by UBM Asia, will be held from 27 to 30 June 2015 at AsiaWorld-Expo. As a preview of this brand new fair, a special exhibition co-organised by UBM Asia and The Munich Show was held at the June Fair. 

27th June Hong Kong Jewellery & Gem Fair concludes on a high note

Seminar/ Forum 

The Gemmological Association of Hong Kong (GAHK) hosted a seminar called “Colored Gemstones: Oldtimer and Newcomer” and “New Findings in Fei Cui Coming Along with Business Opportunities” on 21 June. SSEF Swiss Gemmological Institute hosted “Sustainable Pearls Forum” on 21 June. 

Auctions 

A world-class pearl auction, the 52nd Paspaley Pearl Auction, was held during the Fair. 

The Alrosa Group, Russia's the leading diamond mining company, conducted its first-ever diamond auction at the June Fair. 

 

Upcoming Fairs 

September Hong Kong Jewellery & Gem Fair 2014 

15 - 19 September 2014, AsiaWorld-Expo • Hong Kong 
Exhibits profile: diamonds, gemstones, pearls, equipment & packaging 

17 - 21 September 2014, Hong Kong Convention & Exhibition Centre 

The September edition of Asia's Fashion Jewellery & Accessories Fair (AFJ) is held in conjunction with the September Jewellery & Gem Fair. AFJ runs for four days – from 15 – 18 September 2014 — at AsiaWorld-Expo. 

June Hong Kong Jewellery & Gem Fair 2015 

The June Hong Kong Jewellery & Gem Fair will be held from 25 – 28 June 2015 at the Hong Kong Convention & Exhibition Centre. 

Mineral & Gem Asia 2015

The first edition of Mineral & Gem Asia, a comprehensive trade fair organised by UBM Asia, will be held from 27 to 30 June 2015 at AsiaWorld-Expo. The Fair is positioned as an international trading platform for suppliers and buyers from fields of geology, mineralogy, architecture, interior design and the arts. It is expected to attract gallery and museum curators, loose gem traders and private collectors, among others. Exhibitors will offer a wide variety of rough and polished gemstones, fossils, decorative and ancient stones, art pieces and rough, loose, semi- & fully finished mineral products. 

Other important jewellery fairs organised by UBM Asia

CHINA
Hangzhou International Jewellery & Gem Fair
Dates: 21 – 24 November 2014
Venue: Zhejiang World Trade International Exhibition Center

China International Gold, Jewellery & Gem Fair – Shanghai
Dates: 6 – 9 November 2014              
Venue: Shanghai World Expo Exhibition & Convention Center

China International Gold, Jewellery & Gem Fair – Shenzhen
Dates: April 2015     
Venue: Shenzhen Convention and Exhibition Center

SINGAPORE    TAIWAN
Singapore Jewellery & Gem Fair    Taiwan Jewellery & Gem Fair
Dates: 23 – 26 October 2014                    Dates: 21 – 24 November 2014             
Venue: Marina Bay Sands, Singapore    Venue: Taipei World Trade Center

JAPAN    GERMANY
Japan Jewellery Fair    Jewellery & Gem Fair - Europe
Dates: 26 – 28 August 2014                     Dates: 22 – 25 March 2015
Venue: Tokyo Big Sight Exhibition Center    Venue: Messe Freiburg, Germany

INDIA    
New Delhi Jewellery & Gem Fair    Gujarat Jewellery & Gem Fair
Dates: 6 – 8 September 2014    Dates: 21 – 23 November 2014
Venue:  Pragati Maidan, New Delhi, India    Venue: Gujarat University Convention and Exhibition Centre
    
Kolkata  Jewellery & Gem Fair    Gem & Jewellery India International Exhibition
Dates: 10 – 12 January 2015    Dates: 14 – 16 February 2015
Venue: Milan Mela Exhibition Complex    Venue:  Chennai Trade Centre, Chennai, India
    
Hyderabad Jewellery, Pearl & Gem Fair    
Dates: 5 – 7 June 2015    
Venue: HITEX Exhibition Centre, Hyderabad, India

RUSSIA
JUNWEX Moscow, JUNWEX Watch    
Dates: 1 – 5 October 2014                
Venue: All-Russian Exhibition Centre, Moscow    
    
JUNWEX St. Petersburg    JUNWEX New Russian Style
Dates: 4 – 8 February 2015                
Venue: LENEXPO, St. Petersburg    Dates: 27 – 31 May 2015              
Venue: All-Russian Exhibition Centre, Moscow
    
TURKEY    
Istanbul Jewelry Show – I    Istanbul Jewelry Show – II
Dates: 12 – 15 March 2015
Venue: Istanbul Fair Center (CNR EXPO), Turkey    Dates: 16 – 19 October 2014
Venue: Istanbul Fair Center (CNR EXPO), Turkey

 

 


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