PROFESSIONAL JEWELLER

JEWELLERNEWS, TRENDS AND ANALYSIS FOR BRITISH JEWELLERY PROFESSIONALS

PROFESSIONALOCTOBER 2021 / VOL 12 ISSUE 10

professionaljeweller.com

CRAIG BOLTON REVEALS ALL ON THE RETAILER’S AMBITIOUS THREE-YEAR PROJECT TO REVAMP EVERY ONE OF ITS STORES WITH A COMPLETELY

REVOLUTIONISED LOOK, LOGO AND LAYOUT

Taking chargeWILL EVANS ON BECOMING GOLDSMITHS’ COMPANY ASSAY OFFICE GENERAL MANAGER

Good as goldETHICAL JEWELLERY IS MORE IMPORTANT THAN EVER - HOW CAN YOUR BUSINESS BENEFIT?

Get to knowWOLF’S KATE YERRELL ON WHY PEOPLE MAKE THE JEWELLERY INDUSTRY SO SPECIAL

GOLDSMITHS’ GREAT GLOW-UP

SPECIAL REPORTGREEN ROCKS TAKES A

DEEP DIVE INTO THE

WORLD OF LAB-

GROWN

DIAMONDS

14 DECEMBER 2021DE VERE GRAND CONNAUGHT ROOMS

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PROFESSIONAL JEWELLER | October 2021

COMMENT WELCOME

Sam LewisPROFESSIONAL JEWELLER

Change is the common theme throughout this month’s issue of Professional Jeweller, and realising this has given me pause to stop and think about just how pivotal a time this is for the jewellery industry.

On page 14 begins the second in a series of Special Reports on lab-grown diamonds, in partner-ship with Green Rocks Created Diamonds. This month’s report sees the company’s Maiko Eaton

track the rapidly shifting consumer perceptions of this booming product.Next, on page 18, Watches of Switzerland Group UK executive director Craig Bolton

stops by to discuss the extensive changes the company is making to its Goldsmiths brand.Every one of the company’s dozens of sites will be undergoing a full redesign over the coming three years to adapt to shifts Bolton and other have noticed in the ever-evolving British high street.

Then internal changes are afoot at the Goldsmiths’ Company Assay Office on page 24, as longstanding deputy warden Robert Warden transitions into an advisory role and Will Evans steps up and becomes general manager.

Finally, on page 30, PJ asks the industry to share their thoughts and tips on keeping up to date with ethical jewellery and business practices – something that is becoming increasingly important to the modern consumer.

While the jewellery industry, just like any other, is in a constant state of change, Covid-19 has only served to exaggerate this. This means that, as the tide of the pandemic begins to retreat, right now is a crucial time for jewellers. All this change may well be daunting to many as they try to keep up with the shifting market while staying on top of all the usual day-to-day business, but it should be viewed as a time of opportunity.

With new product types growing in popularity, and end-customers wanting to shop in different ways and prioritising different values, the time is ripe for jewellers and associ-ated businesses to diversify their product ranges and innovate in the way they retail. For jewellery brands and suppliers, meanwhile, jewellers’ demands will also be shifting in response, so innovative new products and services will be in high demand. All this means that there could be some serious net gains for jewellery businesses willing to take risks in the coming months, and PJ is waiting eagerly to see what product releases, innovations and other developments fuel that growth and which companies are about to flourish in the post-pandemic landscape.

Embrace the change

Retaissance’s Cathie

Osborne takes readers

through some of the

iconic brands that have

benefitted from the

digital retail platform’s

offering on page 9.

CONTRIBUTOR OF THE MONTHON THE COVER

Craig Bolton is an open book

on Page 18 of this month’s PJ

as he discusses Goldsmiths’

new retail concept, including

a revolutionised store layout

and a new jewellery line for

customers to get stuck into.

October 2021 | PROFESSIONAL JEWELLER 5

Contents

professionaljeweller.com

40

FEATURE

PRACTICE WHAT YOU PREACHCustomer demand for responsible jewel-lery is growing fast, and businesses that do not keep up risk losing sales. How can that be avoided?

INTERVIEW

HATTON AND SPENCER Hatton and Spencer on the importance of using the optimal packaging for your jewellery products this festive season.

30

32

18

14

FEATURE

AW21 JEWELLERY REVIEW With the Christmas shopping period already underway now is the perfect time to find out what jewellery custom-ers are looking for this year.

24

28

For breaking news and trends go to www.professionaljeweller.com | Follow us on Twitter @ProfessionalJeweller

INTERVIEW

TAKING THE HELM Will Evans on taking over at the Goldsmiths’ Company Assay Office after 21 years working there, as well as the future of Robert Organ who leaves the role of deputy warden.

THE BIG INTERVIEW

GOLDSMITHS’ GLOW-UP Watches of Switzerland Group’s Craig Bolton talks through the new store concept he plans to implement at every single Goldsmiths site in the coming three years.

SPECIAL REPORT

LAB-GROWN DIAMONDS Green Rocks Created Diamonds takes a second deep dive into the world of lab-grown diamonds, this time finding out exactly what consumers think of the product.

THE DIGEST NEWS REVIEW

PROFESSIONAL JEWELLER | October 2021 professionaljeweller.com6

The digestTHIS MONTH IN THE JEWELLERY INDUSTRY...

FOR THE LATEST JEWELLERY INDUSTRY NEWS AND INSIGHT HEAD TO

Former Pandora chief Jesper Nielsen accused of leaving thousands of his ambassadors ‘high and dry’

Aformer Pandora chief has been accused

of deserting 76,000 ‘ambassadors’ that worked for and contributed to his eponymous jewellery brand.

A Change.org petition claims that Jesper Nielsen, who is credited with driving Pandora’s growth throughout Europe during his time at the helm, has pulled the plug on his ‘JN’ brand without giving any explanation.

The main Jesper Nielsen website is currently under construction, but a message posted on social media by the brand last week said it had closed all activities. The sudden closure of the brand leaves around 76,000 ambassadors “high and dry”, according to the petition.

Mary Francese, a former Jesper Nielsen ambassador, set up the petition, writing: “We got conned. We got robbed. I will not stay silenced. We created [n]oise to promote JN. Let’s create noise to get the justice we deserve! Please sign the petition so we can hopefully get answers! To my fellow ambassadors who are affected by this… I’m so sorry, and I’m on your side!”

The petition, which at the time of writing had been signed by 1,745 people and

had a goal of 2,500 signatures, claims that the ambassadors’ calls and messages are being ignored by the business.

Among the many accusations levelled against the business are that it has left ambassadors unpaid, orders unfulfilled and failed to honour prizes that it offered such as cars and trips. However, in its notice on social media, JN stated that all ambassadors would receive their commission and all outstanding orders would be fulfilled.

Meanwhile, a separate Change.org petition started by Jaclyn Ross claims that Jesper Nielsen was selling jewellery bought for $5 and upmarking the price to $500.

Another petition, that was set up by Angela Cassidy, claims that the business was an MLM, or a ‘multilevel marketing business’, a term that is often associated with pyramid schemes.

Cassidy has alleged that Jesper Nielsen has founded an identical jewellery business already, making the following claim: “Within hours ambassadors found a new online business with exactly the same designs, and worse, their customers could log in using their JN customer login details, therefore Jesper Nielsen [has] transferred customers[‘] details and information to a new business, breaching many Data protection Laws.”

The Jesper Nielsen ambassadors found out about the closure in a brief post that read: “We’re sorry...! JN will from today close all activities globally in network marketing! We will in the coming weeks fulfill our outstanding orders for customers and payout[sic] earned commissions for our ambassadors. We would like to thank you all for the last years. Your JN team.”

A source from one of Jesper Nielsen’s ambassadors told Professional Jeweller: “Jesper Nielsen has shut down his JN MLM business and left thousands of ambassadors and customers out of pocket. Orders started being unfulfilled and commission stopped being paid weeks ago. We were told that they were moving the operation to Spain and JN 2 was being developed, [and that] everything would work itself out.

“Then suddenly on Friday we received the message on the JN Facebook group that they had closed. Jesper removed his FB profile and stopped answering emails. We have since found out that the company has gone into liquidation.”

Professional Jeweller has reached out to Mr Nielsen and JN for comment.

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CME Prof Jewellers Full page v1.indd 1CME Prof Jewellers Full page v1.indd 1 06/09/2021 15:36:0306/09/2021 15:36:03



What seemed to be a landmark mo-

ment for Tiffany & Co, husband-and-

wife musicians Jay-Z and Beyoncé,

and the wider diamond and jewellery

industries, has backfired amid social

media controversy.

Jewellery brand Tiffany & Co de-

buted its first advertising campaign

with Beyoncé and husband Jay-Z this

month - the couple’s first campaign

together as a couple.

In it, Beyoncé wore the famous Tif-

fany Diamond necklace, becoming

only the fourth person ever to do so

and the first black woman.

The campaign backfired, however,

when Twitter and Instagram users

called out the singer for wearing a

gemstone that is allegedly a blood

diamond or conflict diamond.

The diamond 128ct stone was dis-

covered in 1877 in South Africa’s Kim-

berley diamond mine, later bought by

the company’s founder Charles Tif-

fany. It is rumoured to be a blood dia-

mond and there are question marks

surrounding its purchase history.

While the singer has remained

tightlipped about the controversy,

continuing to post pictures from the

campaign on her Instagram page, an

anonymous source close to Beyoncé

told the Sun that the singer is “disap-

pointed and angry” that she was not

informed of the stone’s history prior

to wearing it.

Her mother has posted on Ins-

tagram in her daughter’s defence,

meanwhile, with other social media

users pointing out that there was no

backlash when Lady Gaga wore the

diamond in 2019.

Tiffany & Co is yet to comment on

the controversy.

BRAND NEWS

Beyoncé and Jay-Z’s Tiffany & Co campaign backfires over blood dia-mond controversy

September’s Houlden Group meeting

marked a return to physical events

for many in the UK jewellery industry.

At the two-day event, supplier

Bass Premier told PJ that the most

important change to its business and

practices in the last 18 months has

been updating its website. Meanwhile,

Hockley Mint’s representatives at

the event were able to reveal that it

has recently seen a record month for

sales in the company’s history, and

mentioned that the brand has sold

5,500 wedding bands since shops

reopened. It is also expanding its

CAD staff to cut down on the long

wait times many are reporting.

E Alexander & Sons’ Kevin Bilham

revealed the brand has released a

new platinum jewellery range to try

and cater to the “pent-up demand”.

“Where we’ve been successful this

year,” he said, “is new business.” Dis-

cussing the difference between the

companies that have survived the last

18 months and those that have not,

he added: “There are companies that

have not re-learned during the pan-

demic, and this has invariably been to

their detriment.”

WOLF UK and Ireland sales direc-

tor, Chloe Spencer, said that it was

“so nice to finally interact with people

and sit down and chat” at the Houl-

den Group suppliers meeting.

Meanwhile, Gecko Jewellery ex-

plained the importance of sustain-

ability in its products and packaging

moving forward. It has made the

packaging of the recycled Fred Ben-

nett and Fiorelli jewellery lines 100%

recycled and also recyclable. Its cata-

logues are also 100% recyclable.

Finally, David Fell of Hans D Krieger

said: “I thank my lucky stars I’m in the

higher end [segment],” revealing his

fears for jewellery priced between

£500-2,000. He told PJ that he had

been “so flipping excited” for the

Houlden event and had already made

two significant sales.

Why the UK jewellery industry was ‘so flipping excited’ for last month’s Houlden suppliers event

INDUSTRY NEWS

NEWS REVIEW THE DIGEST

professionaljeweller.com October 2021 | PROFESSIONAL JEWELLER 9

Many more consumers are falling into a relatively new jewellery demographic

- the ‘aspirational’ fine jewellery demographic better known as the demi-fine jewellery consumer. With more consumer focus on buying better and buying less, what do consumers do when they are not ready to invest in fine jewellery but are no longer interested in cheap jewellery?

The answer lies in the fast-growing demi-fine market, around the £100-700 price point, that has exploded in the past few years. In this bracket brands create pieces that bridge the gap for consumers and offer significant revenue growth for retailers.

Demi-fine is a category first popularised by luxury e-tailer Net-a-Porter for a new group of brands focusing on trend-led, affordable pieces using precious metals. While the jewellery market declined 18% from 2019-2020, according to Vogue Business, demi-fine brands like Missoma, Catbird, Monica Vinader, Maria Black and others have seen double-digit growth.

These brands have been acquiring new Gen Z consumers while boosting their core millennial base. As demi-fine brands look to expand upwards into fine jewellery, the potential remains for retail jewellers to include demi-fine brands in their store - acting as a magnet to these customers that will soon be moving upmarket into the realms of fine jewellery.

Retaissance represents 20 brands with great consumer following, social media impact, strong media coverage and impressive sell through. Allow Retaissance to introduce you to two.

THE DEMI-FINE JEWELLERY BOOM

AnneleAnnele is an independent jewellery brand launched in summer 2020 by Ethan Welch and jewellery designer Iina Annele. The brand started in London and has since grown to have its second headquarters in Finland where all the pieces are handmade. Solely inspired by the designer’s homeland, Finland, each Annele piece is made with the intention to pull from the Finnish landscapes. The brand is already on the watch list of over 63,000 followers and has been featured in a large number of global magazines such as Vogue, Grazia and The Times.

Polar JewelryPolar Jewelry is a Copenhagen jewellery brand founded in 2017. Every collection is inspired by a theme or subject that has captured the team’s imaginations.

The new collection is a collaboration between Tanzanian supermodel Herieth Paul and Polar Jewelry that celebrates friendship across the globe and is a personal collection, reflecting on memories, new beginnings, and the magic, power and beauty of motherhood. Paul has been the face of Armani, Ralph Lauren, Calvin Klein and more, and boasts 157,000 Instagram followers.

The collection is inspired by her cross-cultural upbringing. She was born in Tanzania but was then raised in Canada. The collection is also inspired by what she finds important in her life and her own experience of becoming a first-time mother. Furthermore, she named all the pieces in her native language of Kiswahili. Furaha is a Kiswahili word that means ‘happines’ or ‘joy’. For Paul, the word perfectly captures the experience of starting a family and makes her feel linked to her maternal ancestors.

FIRST BRANDS TAPPED INTO THE MILLENNIALS AND THE NEW GEN Z MARKET - NOW THEY CAN HELP JEWELLERS TAP IN TO LUXURY SHOPPERS.

RETAISSANCE’S CATHIE OSBORNE EXPLAINS HOW.

CONTACT: Get in touch to learn more about how Retaissance’s brands and extended line offering can boost business for retailers and brands: www.retaissance.agency | [email protected] | +44 (0) 1606 633000

WHILE THE JEWELLERY

MARKET DECLINED 18% FROM 2019-2020 [...] BRANDS LIKE [...] MONICA VINADER AND MARIA BLACK HAVE SEEN DOUBLE-DIGIT GROWTH”



The directors of Glasgow jewel-

ler James Brown and Partners are

looking back on their combined 100

years working in the industry as the

milestone approaches.

The bespoke jewellery manufac-

turing and repairs business is run by

Ewan Coffield and Neil Grant who

met when they responded to a news-

paper advert looking for an appren-

tice jeweller in the 1970s.

Founded in 1950, James Brown and

Partners was by the 1970s owned by

Herbert McCrum and William Gray. Its

focus was repairs, manufacturing, en-

graving valuations and working with

diamonds and gemstones.

“In 1970 I was 15, just out of school,

and looking for work”, said Coffield.

“It was my Mum who spotted the

advert and urged me to apply. I was

lucky enough to get the job.”

Grant joined the business a couple

of years later after spotting a similar

newspaper advertisement.

The pair took over the business in

1980 with another partner. In 1988 the

business moved from West Regent

Street to the famous Argyll Arcade.

The company now derives nearly

three quarters of its business from

its retail sales, the pair reported. This

marks a complete reversal from its

early days of mainly servicing the

wholesale jewellery trade.

They revealed that this means bet-

ter margins and a growing turnover,

as regularly returning customers rec-

ommend the firm to their friends and

family members.

Reflecting on the process of jewel-

lery design, Coffield said: “I love the

beginning stages of making a piece

of jewellery, the sketches, figuring

out how to connect all the different

elements and then seeing its transfor-

mation into something beautiful and

watching the look on the customer’s

face when they first see it.

“We suggest that customers chat

to our team about transforming an

idea you have into a reality or let us

help by creating designs for a unique

piece of jewellery to suit you.”

Glasgow jewellers reflect on combined 100 years in industry

RETAIL NEWS

BRAND NEWS

Cartier enters mobile gaming arena with new Drest jewellery and watch function

Jewellery and watch brand Cartier

has revealed that it has partnered

with luxury styling game for mobile

devices, Drest.

Drest launched in late 2019 as a

high fashion platform combining

editorial content, shopping, game-

play and entertainment.

Now Drest debuts what it has

named its Jewellery & Watch Mode

in partnership with Cartier.

Cartier revealed it is utilising the

app as a communications platform

for the launch of its Clash [Un]lim-

ited collection.

Jewellery & Watch Mode is a new

gameplay feature that enables play-

ers to style jewellery and watches

on the game’s model avatars.

For the first time, players can also

experiment with stacking jewellery

to add their style to a photoshoot,

helping them to stand out and make

an impression on their peers and

industry experts.

Arnaud Carrez, senior vice presi-

dent and chief marketing officer at

Cartier, said: “Pushing boundaries

is at the heart of Cartier’s DNA, and

we are continually looking to en-

gage with our audiences with new

and relevant experiences.

“The new Clash [Un]limited is an

amazing, contemporary collection

and the Drest features will further

empower our audience to explore

Cartier’s creativity and creations in

an innovative way.”

Mobile platform Drest’s founder

and CEO, Lucy Yeomans, com-

mented: “The world of watches and

jewellery is the pinnacle of luxury

aspiration, combining some of the

most iconic and coveted designs

with powerful storytelling.

“Bringing these pieces to life in

Drest was a real technical challenge,

but we are thrilled with the results,

particularly the features that enable

our players to get up close to the

jewellery and try out our styling var-

iants, such as stacking bracelets and

watches, and using multiple rings.”

NEWS REVIEW THE DIGEST


A London-based jewellery

manufacturer has reported

record sales of its coloured

gemstone-set jewellery line

this year.

Andre Michael, based in

the capital’s Hatton Garden

jewellery district, produces its

own jewellery in German and

Indian factories.

The UK’s retailers, the company said, have been snap-

ping up the jewellery range in record numbers. The

jewellery including rings, earrings and pendants set pre-

dominantly with natural rubies, emeralds and sapphires,

reflecting the current trend for coloured gemstones.

Other stones selling out quickly include tanzanites, cit-

rines, tourmalines, topaz and aquamarines. The trend is

proving popular for the supplier across all price points,

and the company has introduced further lines over recent

months to cater to the high demand.

London jewellery manufacturer reports record sales of its coloured gemstone range

BUSINESS NEWS

ETHICALLY SOURCED GEMSTONESFROM MINE TO MARKET

EMERALDS RUBIES SAPPHIRES AQUAMARINE

TOURMALINE AMETHYST OLD CUT & ROSE CUT DIAMONDS

R.M.Shah Ltd2nd Floor, 86 Hatton Garden

London, EC1N 8QQ

020 74052162www.rmshahltd.co.uk

[email protected]

Follow us on Instagram: rmshahltd_finegems

Pandora has signed TikTok

superstar Addison Rae as

well as English singer Charli

XCX in a new push to target

the Gen Z market.

Donté Colley, Beabadoo-

bee, and Cecilia Cantarano

have also joined the Pandora

ranks as part of the Pandora ME relaunch.

The new collection, aimed primarily at Gen Z consum-

ers, offers endless possibilities of personalisation, and

aims to encourage self-expression.

The brand explained that it hopes to “empower young

generations to stay true to who they are and express their

values [and] beliefs through jewellery”.

The collection features link bracelets, necklaces, stack-

ing rings and earrings.

Pandora then went on to explain how the new Pandora

ambassadors will be known as the Pandora ME Collective

and will work with the brand to relaunch the Pandora ME

collection, which will be available in stores and online from

30th September

BRAND NEWS

A toxic leak from an An-

golan diamond mine has

reportedly killed 12 peo-

ple after polluting rivers

hundreds of miles from

the site.

This comes via Eve

Bazaiba, an environmental

minister for the Democratic Republic of Congo, who also

claimed that around 4,500 people had been left ill after

the incident.

The leak was of waste sediment from the mining pro-

cess that contains dangerous levels of heavy metals.

It was reported at the time that the rivers ran red and

countless fish died.

It came from the Catoca diamond mine which is jointly

owned by the Angolan state diamond company Endiama’s

Catoca Mining Company and Russian diamond mining

giant Alrosa.

The BBC reported that Bazaiba claimed the Democratic

Republic of Congo would be suing for an unspecified

amount after the Angolan mine polluted its rivers.

TikTok superstar Addison Rae joins Pandora in fresh Gen Z market push

A dozen die after Angolan Alrosa dia-mond mine leak leaves ‘dead fish floating’

INDUSTRY NEWS



Diamond mining company De Beers has announced the

successful launch of the maiden voyage of its newest

vessel, and what it claims is the world’s largest dia-

mond-dredging ship.

The vessel is reportedly the largest of its kind in the

world and cost the company a reported $470 million

(£343 million), according to IDEX.

Port of Cape Town, South Africa, is the destination of

the ship’s first journey. There it will be fitted with mission

equipment before commencing its first dredging opera-

tions off the Namibian coast in early 2022.

The Additional Mining Vessel (or AMV3) will be added

to Debmarine Namibia’s fleet of five ships.

Debmarine Namibia is a subsidiary of De Beers, jointly

owned by the Namibian government.

“De Beers celebrates the completion of the vessel

which, after a long period of design, construction and

testing has now proceeded to sea” said Michael Curtis,

head of the AMV3 Project. “The vessel build has been a

truly multinational effort which has converged success-

fully at Damen Shipyards Mangalia.

“The build of this magnificent ship has enjoyed a high

profile in Namibia as the largest ever single investment in

the history of marine diamond recovery.

“Today marks a significant milestone in the project and

for our company as the vessel starts its journey to Cape

Town where it will be outfitted with the mission equip-

ment. Damen’s dedication to building this high-quality and

complex vessel, under very difficult circumstances and to

do so with an excellent safety record is acknowledged and

the quality of the ship is a testament to the skills of all who

have been involved.”

World’s biggest diamond dredger costing £340m embarks on maiden voyage

BRAND NEWS

Jewellery brand Pandora has re-

vealed plans to expand its global

manufacturing capacity with a DKK 1

billion (£115 million) investment amid

a host of other changes as part of its

recently announced financial goals

for the coming two years.

The company, headquartered in

Copenhagen, revealed that the major-

ity of its new manufacturing facilities

will be built in Vietnam.

This comes as part of an an-

nouncement concerning its ‘Phoenix’

strategy. The plan is aimed at giving

Pandora sustainable and profitable

revenue growth after a difficult few

years for the brand. It targets organic

growth of 5-7% CAGR during 2021-

2023. Total revenue growth CAGR is

expected to be 6-8%, lifting revenue

to DKK 24.8-26.2 billon (£2.86-3.02

billion) in 2023. The company hopes

its EBIT margin increases to 25-27%

in 2023. It is increasing its share buy-

back programme by DKK 3 billion

(£346 million).

Alexander Lacik, president and

CEO of the Pandora brand, said: “We

are very pleased to confirm that Pan-

dora is back on the growth track. We

have vast untapped opportunities in

our existing core business and they

will drive long-term sustainable and

profitable growth.

Pandora to expand global manufacturing capacity with £115m investment

BRAND NEWS

T: 0113 389 9710 | E: [email protected]

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SPECIAL LAB-GROWN DIAMOND REPORT

Following on from Professional Jeweller’s first special report last July, which fo-cused on the little-known history of lab-oratory-grown diamonds over the last 50 years and included a market over-

view of consumer awareness, here Maiko Eaton, sales manager at Green Rocks, continues to tell that story.

This time she takes a deeper dive into the market re-search, interviewing end consumers to find out why they chose laboratory-grown diamonds and asking perhaps the most divisive question among jewellers: what is the future value of a laboratory-grown diamond and was this a factor in their decision to purchase one?

“The data collected in this market research conducted by [luxury industry research specialist] MVI in March through April this year has been fascinating,” reveals the Green Rocks sales manager. “It confirmed what our own sales show us, but also gave us some interesting insights that we were not expecting.

“The consensus is that the demand is strong for labo-ratory-grown diamonds in the UK and Ireland and is only continuing to grow. This product is a great opportunity for jewellers, not a threat, and in this report we wanted to focus on talking to the people who matter most to the jewellers reading – their potential customers – to find out why they ultimately chose a laboratory-grown diamond and what led them to that decision.”

GREEN ROCKS & PROFESSIONAL

JEWELLERSPECIAL LAB-GROWN DIAMOND REPORT

15professionaljeweller.com

& PROFESSIONAL JEWELLER SPECIAL REPORT

ASK THE AUDIENCE“This challenges the industry

stereotype that it is largely only younger consumers who are buy-ing laboratory-grown diamonds. Of the 1,500 people polled, 78% of whom reacted positively, over half were between 36-55. I think most jewellers would find this num-ber surprising. There is certainly the preconception that labora-tory-grown diamonds attract a younger generation who are environmentally-minded. Certainly that generation is in their engage-ment years and should be a focus for jewellers. However, the data also shows us that 45-plus age groups are also highly engaged by laboratory-grown diamonds and have the purchasing power to gift or self-purchase.

“This notion that slightly older generations still buy into the romance of a natural diamond does not hold true. Holding onto just one product with a story of love and history may not be the smart move anymore.” Eaton sums up: “Consumers of all ages want choice between the two products, and I see jewellers succeeding daily by offering their customers that choice.”

MARKET RESEARCH ON LGDS

0.260.26

0.250.23

0.22

0.03

0.080.15

0.2

SURVEY RESULTS BREAKDOWN

WHICH OF THESE STATEMENTS ABOUT LAB-GROWN DIAMONDS RESONATES MOST WITH YOU?

40% were in the 23-35 age range 38% were between 36-45 22% were 46-55.

12% of participants reported household

earnings of £28,800 - £43,199,

38% £43,200 - £57,599 29% £57,600 - £86,399 12% £86,400 - £129,599 9% £129,600+

professionaljeweller.com 15

MVI’s survey showed that 78% of participants responded positively to laboratory-grown diamonds

Annual household income breakdown of the ‘positive’ respondents

40% 38% 22%

12% 38% 29% 12% 9%

LAB-GROWN DIAMONDS ARE IDENTICAL TO THEIR MINED COUNTERPARTS IN APPEARANCE, QUALITY AND OPTICAL FINISH

LAB-GROWN DIAMONDS ARE MORE ENVIRONMENTALLY FRIENDLY AND SUSTAINABLE FOR THE LONG TERM

LAB-GROWN DIAMOND JEWELLERY COSTS ABOUT 40% LESS THAN THE SAME JEWELLERY WITH MINED DIAMONDS

LAB-GROWN DIAMONDS CAN BE GIVEN A CERTIFICATE OF THEIR 4CS (CUT,COLOUR, CLARITY AND CARAT WEIGHT)

I CAN GET ABOUT A 40% LARGER LAB-GROWN DIAMOND FOR THE SAME PRICE AS A SMALLER MINED DIAMOND

NONE. I JUST DON’T LIKE THE HYPE OF LAB-GROWN DIAMONDS

NONE. MINED DIAMONDS ARE RARER AND WILL HOLD THEIR VALUE BETTER THAN LAB-GROWN DIAMONDS

I LIKE THAT I MIGHT KNOW THE COUNTRY OF ORIGIN

I CAN GET ANY SHAPE OF DIAMONDS OR TYPE OF JEWELLERY I WANT WITH LAB-GROWN DIAMONDS

October 2021 | PROFESSIONAL JEWELLER


SPECIAL LAB-GROWN DIAMOND REPORT

WHAT DO END CONSUMERS

REALLY THINK?

Why did you choose laboratory-grown diamonds for your engagement rings?Hayley: I always dreamed of having a 1.50ct diamond for my engagement ring. However, with also buying Holly’s engage-ment ring as well as being in the process of buying our first home together, it felt like a dream that would not come true. I felt a real sense of guilt buying such a large stone for myself when we were buying a house and planning a big wedding, so I resigned myself to settling for something much smaller.

Then I saw a Netflix documentary called Explained and I was immediately sold on the idea of LGDs. They are chemi-cally and optically the same as natural diamonds but let me have the size I wanted without breaking the bank.Holly: I really had no idea what laboratory-grown diamonds were until Hayley found this Netflix documentary. It was all she talked about for weeks, but it really made sense to me. I am a pragmatic person and to me the emotion is not in whether the diamonds in our rings were from the earth. I do not buy into the romance behind that. What was a de-termining factor in deciding between the two was that the laboratory-grown diamond would let Hayley have the ring she had always wanted. Hayley: We went to a few different jewellers who tried in vain to discourage us from choosing them, saying we wouldn’t be able to sell them if we wanted to in the future. It wasn’t something we had considered, but we quickly de-cided this was not a concern for us: Holly is the most amazing woman and I hope to be with her forever. Buying a lab-grown diamond ring let me have the size of diamond I had always dreamed of and the money we saved on our two rings will go towards house renovations.

I have the most beautiful 1.50ct DVS1 round brilliant dia-mond in a four-claw solitaire. I cannot stop staring at it all day! I couldn’t be happier with our choice.Holly: Hayley designed my ring and I designed hers. She chose the most perfect twisted band, just like a ring I had inherited from my grandmother. Everyone who sees my en-gagement ring always tells me that it is perfect for me and so in keeping with the rest of my jewellery. The process of designing them is something I will remember forever. I will never forget the look on Hayley’s face when she saw her ring for the first time. I am so happy she got what she always dreamed of.

Did the future value of your ring really never con-cern you? Hayley: The Explained documentary touched on this topic. After researching a little more I was shocked to dis-cover what the re-sale value of natural diamonds could be. It frustrated me and I felt the first jewellers we met with had not given us the full picture and wanted us to walk away with a natural diamond. It also felt very unromantic that one of the first things a jeweller had said when I brought up the idea of laboratory-grown dia-monds for our rings was that we would not be able to sell them in the future.

17professionaljeweller.com

& PROFESSIONAL JEWELLER SPECIAL REPORT

Why did you choose Kimaï? Not feeling inspired by the local jewellers and knowing I want-ed a high-quality lab-grown diamond, I began researching jewellers online. Almost im-mediately I found Kimaï and I knew I had struck gold. Their at-tention to detail, beautiful designs, and prioritisation of protecting our earth, coupled with the fact they are a women-owned busi-ness, made my decision so easy. I was impressed with their great, trusted reputation for creating beautiful, resilient and custom pieces.

Why did you choose to have a laboratory-grown diamond for your engagement ring? I chose lab-grown diamonds for my engagement ring not only because I wanted a stone that I knew had a very small impact on the planet, but also because I could get the car-at, cut and colour that I wanted at a much more economi-cal price. What solidified my decision was being safe in the knowledge that the stones I would get from Kimaï would be of the highest quality.

STEVEN AND OLGAKimaï is a bespoke fine jewellery service specialising in the use of laboratory-grown diamonds and stocked in Selfridges and Browns. Here an anonymous customer gives their take on Kimaï’s products.

KIMAÏ CASE STUDYWhy did you choose a laboratory-grown dia-mond for Olga’s engagement ring?Steven: I work in London in finance and had heard about laboratory-grown diamonds from colleagues in the US four or five years ago. I knew I wanted to pro-pose to Olga and was fascinated by the idea of a dia-mond that was grown by humans. It really resonated with me as Olga had a tech start-up then – I thought she would love the story of her diamond being made by people who are as smart and brilliant as she is. What surprised me was that back then it was really difficult to find LGDs in London. I searched online but felt un-easy about purchasing something so important with-out seeing it first.

In the end I found the perfect ring while in the US. I was so nervous to propose and questioned if I had made the right choice in choosing a laboratory-grown diamond – back then it was not something people had heard of. Friends would make comments about it be-ing fake. When I saw Olga’s eyes light up I knew I had made the right choice.

Did the future value of your ring ever concern you?

Steven: No, I don’t plan to sell it and the emotional value of the ring and the story behind it far outweighs that. Olga will also tell you that she managed to convince me to buy her a

pair of 3ct laboratory-grown diamond studs, so I think it’s fair

to say we both won when I chose a laboratory-grown diamond.

October 2021 | PROFESSIONAL JEWELLER

THE GREAT GOLDSMITHS GLOW-UP

THE BIG INTERVEW

THE BIG INTERVIEW GOLDSMITHS


RETAILER GOLDSMITHS IS UNDERTAKING A RAPID THREE-YEAR PROJECT TO IMPLEMENT A RADICAL REDESIGN IN ALL OF ITS STORES ACROSS THE UK,

BEGINNING WITH SEVEN IN TIME FOR CHRISTMAS 2021. WITH CHANGES TO ITS AESTHETIC, LAYOUT, LOGO AND MORE, AS WELL AS NEW JEWELLERY ON THE WAY, GOLDSMITHS IS HOPING CUSTOMERS WILL FIND THEIR NEAREST STORE FAMILIAR

YET UTTERLY TRANSFORMED NEXT TIME THEY VISIT.

he effects of Covid-19 have been far-reaching in the world of lux-ury retail, and one change jew-ellers have been adapting to is

a trend for higher average spend since stores first reopened in June 2020. There is even concern in some quarters that the mid-range section of the market is seeing a drought of consumer spending.

TSeemingly in reaction to this, a number of the nation’s

big multi-site retailers have begun experiments to test the waters in the high-end jewellery arena. The latest to give their take on the new post-pandemic retail experi-ence is Goldsmiths. What differs with Goldsmiths’ plans, though, is that they were made pre-pandemic.

The Watches of Switzerland Group retailer announced at a press event recently that it would be undertaking an extensive store redesign project that will eventually

GOLDSMITHS THE BIG INTERVIEW


STRAIGHT AHEAD OF YOU IN EVERY ONE OF OUR NEW STORES YOU WILL SEE JEWELLERY

UNDERNEATH THE GOLDSMITHS NAME. THAT’S OUR BRAND AND THAT’S OUR BRANDED AREA”

encompass all of its dozens of Goldsmiths sites – though will kick off across an initial seven sites in time for Christmas 2021, with Bristol’s Cribb’s Causeway up first, and Sheffield and Canterbury sites soon following.

The redesign will see the company change the layout and aesthetics of its sites, as well as introducing new products and features to stores too.

Explaining more about the thought process behind the project, Craig Bolton, UK executive director for Watches of Switzerland Group, says that the move is intended to allow customers of all budg-ets and backgrounds to have the Gold-smiths experience. “Luxury today has become far more relaxed, inclusive and experiential,” he said, “so while we are elevating the Goldsmiths brand position, our goal is to make everyone feel valued and at home when visiting our stores.” Goldsmiths stores, he revealed, will now be as much “somewhere you would like to hang out” as somewhere you would go to buy jewellery and watches.

This will inevitably mean luxury hos-pitality. One new addition is what Bolton

T: +32 (475) 710390 www.shamasbvba.com

C O M P L E T I N G Y O U R D I A M O N D R E Q U I R E M E N T S



launch or a big watch launch, for exam-ple. That means we can actually lift that space and put pop-up areas into it.”

There will also be the return of Gold-smiths’ hospitality bars. “These will offer a wide range of refreshments, and even real coffee machines,” Bolton enthuses. “I like the idea and the sound of coffee be-ing made - that smell just has a calming feel about it.”

On top of all that, the largest Gold-smiths stores will even have dedicated VIP rooms and what Bolton describes as “after-sales and service lounges”. In the stores that do not have enough square footage for an entire room dedicated to these functions, the retailer will still set aside a dedicated space for them.

These are arguably the least signifi-cant changes to Goldsmiths, however. Next comes a complete overhaul of the branding and look. Bolton gives a break-down of what aesthetic changes custom-ers can expect: “When you look at it from the outside, typically Goldsmiths would have been brown and gold,” he says, “gold being one of our primary colours as a brand. We don’t want to lose that but it is becoming more of an internal colour that we’ll have through our soft furnishings and the various elements of the store. We won’t lose that as a primary colour, but it’s more black and white from the outside.” This, Bolton says, is intended to give the sites a feeling of modern luxury.

Also gone is the year of Goldsmiths’ founding from its logo. “We’ve taken our 1778 off the logo, yes,” Bolton clarifies, “so it will just be ‘Goldsmiths’ going for-ward. This is not at all because we’re not proud of our history – of course we are – but it makes the logo look a bit more aes-thetically pleasing, a little bit simpler and more modern.”

Meanwhile, inside the stores, perhaps the most significant layout change is in the positioning of the company’s watch and jewellery selections. Until now, Bol-ton explains, Goldsmiths has not had a clear delineation between its jewellery and its watches in-store; the two product categories have sat side by side.

“Typically with designer jewellery stores you will find watches down one side and jewellery down another,” Bolton explains to Professional Jeweller. “The same has been true of Goldsmiths until now. The two were connected in one way

calls “the runway”, a “flexible” area run-ning from the entrance of every Gold-smiths. “The runway is designed to be a lounge area,” the UK executive director says, “so you’ll find soft furnishings there and you’ll find the multi-brand area there, so any watch brand that doesn’t have a shop-in-shop or a significant branded space would be in our counter locations within the runway space.

“That area is designed to be flexible, so we can lift the furniture out and have pop-up areas in there for a big jewellery

YOU WILL STILL RECOGNISE IT AS BEING A GOLDSMITHS – THE ONLY DIFFERENCE IS YOU

WILL FEEL THAT IT IS COMPLETELY ELEVATED FROM WHERE IT WAS BEFORE”

GOLDSMITHS THE BIG INTERVIEW


or another: if you were looking at watch-es, you could easily see the jewellery on the other side of the store.”

Now, however, that layout is gone. “We’ve changed that layout fairly signifi-cantly. Now you will go into our stores and see luxury watches at the front on both sides. Now what we’ve got is jewel-lery in the back of the store and watches at the front, both having very specific, dedicated areas that I think works very, very well.” Before jewellery fans get too concerned, though, Bolton adds: “That’s not at all to discount jewellery - quite the opposite actually. It’s to give it a much more specific area that’s designed in a slightly different fixture level, maybe a little bit more feminine than the first part of the store, which would be more masculine from a watch standpoint.”

The obvious question is: does the new emphasis the retailer has put on watches reflect the sales volume of that segment compared to jewellery? Bolton con-firms that Goldsmiths does indeed sell more watches than jewellery. “We love our jewellery and we love our watches,” Bolton begins, “and we love our repairs and product services too. They all have a significant part to play within our busi-ness.” Nevertheless, Bolton is happy to admit that watches make up more than 80% of Watches of Switzerland Group’s revenue. “Obviously Watches of Switzer-land stores spike that number,” he says, but admits: “In the Goldsmiths stores I’d say it’s less than 80% for watches, but still a significant part of our business and one that deserves that kind of front-and-centre attention.”

Another reason to put watches at the front of the shop is the recognisability of the brands. The pulling power of names like Rolex cannot be understated, and Goldsmiths may be wise to utilise that. Bolton explains: “The brands obviously have significant awareness so there’s no reason for us not to use that and to play with that. Bringing them to the forefront does that job, but actually by mixing jewellery with watches it de-emphasises jewellery and equally dilutes watches.”

For this reason, Bolton believes that in placing jewellery at the back of the store Goldsmiths is not taking anything away from it, but actually shining a greater spotlight on it. “This dedicated, luxuri-ous jewellery area in the back of our store

PEOPLE CAN JUST COME IN AND BROWSE WITHOUT EVEN HAVING ANY INTERACTION IF

THEY DON’T WANT THAT INTERACTION”

Goldsmiths in London

Of the seven stores that Gold-

smiths plans to revamp before

Christmas 2021, none are situ-

ated in the English capital. Is this

perhaps to allow the company to

work out the kinks in the process

before it works on its London

sites, or is it waiting for commut-

ers to return in full force before

it upgrades its stores there? Nei-

ther, in fact.

UK executive director, Craig

Bolton, explains: “Actually Gold-

smiths is not that prominent

in London, it’s much more of

a regional brand. Watches of

Switzerland and Mappin & Webb

are very prominent in London,

but you have to go to the outer

London areas like Lakeside,

Bluewater, Canary Wharf and a

few others, so we’re not really in

those West End and city centre

locations so much.”

He clarifies: “There was no de-

cision made based on London or

not London. Primarily the prior-

ity with the first seven was for

us to choose a mixture of stores

that we felt comfortable with,

that would give us the feedback

and that we could learn from.”

will be very visible when you walk in,” he says, continuing, “straight ahead of you in every one of our new stores you will see jewellery underneath the Goldsmiths name. That’s our brand and that’s our branded area.

“We’ve done a great job of segregating the areas to play to the strengths of those particular product categories without de-emphasising any of them. I think if anything it’s enhanced all of those more than they would have ever been before.”

With all this change, readers would be forgiven for asking whether Goldsmiths

stores will even be immediately identifi-able to the consumer after the change. Bolton believes so: “It really is quite a quite a change in terms of layout,” he allows. “As you walk up to the stores, though, you will still recognise it as be-ing a Goldsmiths – the only difference is you will feel that it is completely elevated from where it was before.”

ELEVATING GOLDSMITHSThe executive director has detailed what the new stores will look like but is equally keen to talk about the behind-the-scenes



High-value jewellery

Even with planning the upgrade

of its entire portfolio of stores

over the oming three-year period,

Goldsmiths has not neglected its

growing jewellery line, and has

teased new “higher-carat” ad-

ditions to the range to mark the

launch of its new retail concept.

“We did always have higher-carat

weight collections within the

Goldsmiths brand,” says Craig

Bolton, UK executive director for

Watches of Switzerland Group.

“It maybe wasn’t quite as widely

distributed across our stores as

it will be going forward, though.”

The retailer will now have more

options for customers looking for

items like 1.5-2ct solitaire earrings

and tennis bracelets at 4-5ct,

the UK executive director says.

“There’s certainly a shift towards

that without taking anything away

from our original collections. We

historically haven’t sold as much

high-value jewellery to go along-

side our high-value watch brands,

and that will be the natural shift

you will see within Goldsmiths

over the next 12 months.”

confident with what it looks like and how it’s going to feel for our clients and for our team. So if anything, the delay caused by the pandemic probably allowed us to de-velop the idea more fully before putting it into practice.”

One aspect of the planning that Bol-ton particularly appreciated having time to deliberate on was the decision of which company to bring in for the design. Instead of rushing this process, Gold-smiths selected two design businesses – one from the UK and another from the US – and gave them the chance to win the contract with their responses to the jew-eller’s brief. While the retailer went with old favourite Quadrant Design in the end, with whom it has worked for more than 12 years, Bolton is happy that he was able to test the waters and see what else was out there. What is more, he says that the contest was a close-run thing.

work that went into this redesign. “We’ve spent a lot of time developing Goldsmiths since 2014 and it has evolved as a brand in many different ways, but it felt like we’ve done a lot of work with Mayors in the US, we’ve done a lot of work with the design of Watches of Switzerland and Mappin & Webb in the UK, but we hadn’t really revolutionised the Goldsmiths brand, so it felt like the right time to do that.”

Rather than being an idea conceived during the dark days of lockdown, the store revamp project pre-dates the pan-demic. Covid-19 and the many conse-quent lockdowns actually delayed Gold-smiths’ plans, but Bolton is not resentful about that. On the contrary, he believes it simply gave the company more time to refine its plans. He says: “All it meant was that we’ve had a lot of time to work on the design, a lot of time to tweak it as much as we wanted to, and now we feel really

“We gave them both the same brief,” the UK executive director reveals, “and they came back with very different ar-ticulations of that brief. From day one we genuinely loved the design Quadrant came back with, though they insist the power is in the initial brief which we worked very hard to get right.” Gold-smiths did research on how its product categories were retailed, how its brands wanted to be represented, how shop staff wanted to retail and also what clients were hoping to see. “We spent a couple of months in total working on a brief that we could then give to the winning design company,” says Bolton.

The brief specified that the concept had to work in both Goldsmiths’ larger stores of around 3,500 square feet and its smaller sites of less than half that. Another requirement that was impor-tant to the retailer was that its stores not be intimidating to potential customers. Bolton says: “I think we in the industry forget that actually watch and jewellery businesses can be quite intimidating. When you see some of these big brands in the window, perhaps with big price tags, I don’t think everybody feels comfortable coming into that environment. I know I didn’t before I joined the industry. So we wanted to create an environment that was clearly unintimidating so that peo-ple can just come in and browse without even having any interaction if they don’t want that interaction.”

In praise of the design company once more, Bolton sums up: “Quadrant really nailed the brief in our opinion, and their take on it didn’t really need much tweak-ing because their response to the brief was so accurate. They did a great job.”

Goldsmiths who love silver

Contact: [email protected]

WB0273-TSM-PJ-ad.indd 1WB0273-TSM-PJ-ad.indd 1 11/08/2021 08:2911/08/2021 08:29

INTERVIEW GOLDSMITHS’ CO ASSAY OFFICE


How are things at the Goldsmiths’ Company Assay Office at the moment?Yes, we are very busy at the moment, but lots of hall-marking is a good thing. I came back to the office May last year to do risk assessments and stuff like that across the site so we could reopen post-COVID. Compared to a lot of industries, most of our guys can’t work at home, so we’ve been at 80% occupancy since that time.

Is your office on the same site as the hallmark-ing facility?Our main site is Goldsmith’s Hall. It’s a Grade One listed building and the assay office is on the third floor for the most part. We have a trade counter on Gutter Lane where customers can bring work, so we consoli-dated the entire production operation up on one floor and moved the management offices up there also, which was a project we kicked off in February 2020, just before everything fell apart.

IN LIGHT OF DEPUTY

WARDEN ROBERT

ORGAN’S DEPARTURE

FROM HIS ROLE AT

THE GOLDSMITHS’

COMPANY ASSAY

OFFICE, PROFESSIONAL

JEWELLER THOUGHT

IT THE PERFECT TIME

TO SIT DOWN WITH

HIS SUCCESSOR, WILL

EVANS. HE DISCUSSES

HIS 21 YEARS AT THE

ASSAY OFFICE, WHAT

IT MEANS TO TAKE

OVER FROM ORGAN,

AND EXPLAINS A KEY

CHANGE IN MANAGEMENT

STRUCTURE .

We’ve got nice new offices, a nice new production en-vironment, and some new air con which everyone’s lov-ing at the moment because it’s a bit warm up here.

You are set to take over as head of the Gold-smiths’ Company Assay Office next month. Has the transition into the role already start-ed? How is it going?I actually took the role officially on 1 September. We started the transition just in advance of Robert’s retire-ment so I’m now officially in the role of general man-ager. I’ve been part of the team for 21 years now and I’ve worked very closely with Robert during that time, almost like a 20-year apprenticeship. And apprentice-ships are a massive deal in the jewellery and silver-smithing industries.

We work very closely, so the transition should prove pretty seamless for our staff and for our customers. That’s largely taken place now.

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TAKING THE HELM

GOLDSMITHS’ CO ASSAY OFFICE INTERVIEW


It must be useful for you to have Robert staying on given his wealth of experience?Yes, with his 21 years’ experience in these areas it just makes the whole tran-sition even smoother. It makes sure that it all works really well. Him and I have a really good working relationship, and this will just carry that on.

Is his new role a fixed-term one or will he stay on indefinitely?It’s fairly open-ended. I think, with the current uncertainty of a post-COVID world, nobody knows what the next two to three years might look like. Some roles we might look to fold back into a management structure of the Assay

Office in time. Because he’s done it for all this time, it’s pretty much a continu-ation of that, and it gives us a degree of flexibility and efficiency of outcome for our customers and interested parties.

What are you hoping to bring to the role? A lot of my focus has been around the Assay Office’s digital transformation. We’ve put a lot of work in over the last five years into our website and into our customer portal. About 70% of the packets we receive now for hallmark-ing are submitted through the website, rather than completed as a traditional paper form. That gives a lot more effi-ciency around data entry, data manage-ment, all of that stuff, and allows us to really improve the service that we give our customers.

Now the hallmarking is done on a pri-ority turnaround. Using the data intel-ligently really helps to speed that pro-cess up. So yes, the focus is to continue improvement and use of it alongside the traditional techniques to really deliver the best outcomes for our customers.

Robert Organ is stepping down as deputy warden, while you are taking on the role of general manager. Does this mean there has been a change in the man-agement structure?Rather than retiring completely, [for-mer deputy warden] Robert is moving towards his new role of senior hall-marking consultant to the Goldsmiths’ Company Assay Office. And yes, there has been a slight change in the manage-ment structure of the office. Robert’s position was deputy warden, which comes with some broader Goldsmiths’ Company responsibilities.

Compared to other assay offices, we also conduct the Trial of the Pyx where we test the nation’s coinage produced by the Royal Mint. We also operate a body called the Antique Plate Committee, which adjudicates on pieces of antique silver that may be fakes or forgeries, as well as hallmarking. These are some of the other important activities that the office undertakes.

We decided to split the deputy war-den role between a couple of people. My focus is on the business of hallmarking and how we provide that service to our customers. Robert’s role, though, is us-ing his experience to carry out work on the annual Trial of the Pyx, testing the soundness of the nation’s coinage. He will also help co-ordinate the Antique Plate Committee and represent the London Assay Office on trade and gov-ernment bodies.

PEOPLE EXPECT A LOT FROM A

COMPANY NOWADAYS AROUND HOW THEY DELIVER THEIR SERVICES AND HOW YOU CAN INTERACT WITH THEM ONLINE”

INTERVIEW GOLDSMITHS’ CO ASSAY OFFICE


People expect a lot from a company nowadays around how they deliver their services and how you can interact with them online. We’re really keen to make that a key part of our offering. It’s exciting times for us because we’ve been hoping to do this for a while.

More generally, how has business been recently?There’s definitely been a post-lockdown comeback. If you’ve seen the total UK hallmarking market figures, they dropped massively last year as you’d ex-pect with everything closed, but since April 2021 things have been on the up and it’s good to have a consistent period of growth with the release of all that pent-up demand now that everyone can finally get married and buy their wed-ding rings.

We’re looking forward to this next period, being able to serve our custom-ers and give them the ability to get stuff done in a timely fashion.

Does the Assay Office operate dif-ferently to how it used to before the pandemic?Covid allowed for a period of reflec-tion, for both myself and for the team. I must say as well that the effort of our teams through this period has been in-spirational. Their dedication to getting the work done has really enabled us to operate through some of the trickier

times last year. During that time we thought about the services we offer and we looked at the data as well – we gather masses of data on all of the packets that we process – and we asked how we could best tailor our offer going forward.

So that’s where we are now – we’re ex-cited for the future. Nobody has a crys-tal ball to see how things are going to go over the coming months, but there’s definitely a feeling of optimism at the moment. Even in this last week you have seen an increase in footfall within the city. People are coming back to work and weddings and events are finally happening again.

Does the Goldsmiths’ Company Assay Office have anything else in the pipeline?I must mention that the Assay Offices and British Hallmarking Council are just about to release details of the Plati-num Jubilee hallmark, which is coming, maybe at the end of this year to cel-ebrate the Platinum Jubilee.

Will the Assay Office be imple-menting any other new technolo-gies in the near future?We’ve done a lot on the website and the customer-facing elements. We’re just kicking off a massive project to redo the back office systems that we use here at the Assay Office, to bring them up to the same standard and, again, to give some of those features that customers expect from a modern business – around digi-tal invoicing and stuff like that – things that we perhaps haven’t been able to of-fer yet. We’re really keen to add those to our portfolio services.

WE’RE LOOKING FORWARD TO THIS

NEXT PERIOD, BEING ABLE TO SERVE OUR CUSTOMERS AND GIVE THEM THE ABILITY TO GET STUFF DONE IN A TIMELY FASHION”

YES, WE ARE VERY BUSY AT THE

MOMENT, BUT LOTS OF HALLMARKING IS A GOOD THING”

With the Uniglo Diamond Inventory app you

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FEATURE AW21 REVIEW


FOUR OF THE INDUSTRY’S TOP JEWELLERY SUPPLIERS GIVE THEIR THOUGHTS

ON WHAT RETAILERS SHOULD BE SELLING THROUGH THE FOURTH QUARTER

OF THE YEAR

fter Christmas last year proved a muted affair thanks to last-min-ute changes to Covid restric-tions by the UK Government, the

country will be gearing up for this year’s celebrations to be even bigger and better than usual. With that in mind, jewellers will be hoping that customers will be ready to jump headfirst back into buying jewellery to show loved ones how much they have been missed during the pandemic.

So which types and styles of jewellery are forecast-ed to sell best through the fourth quarter of the year? “Christmas is all about gifting and choosing the right piece for your loved ones,” says Chantelle Serrell-Cooke of Domino Jewellery. “So, we anticipate person-alisation continuing to be key in Christmas purchasing this year.” Personalisation can come in all different forms, the marketing manager notes, including of gem-stone, metal colour, stacking and layering, or even an engraved message.

In addition to this, Serrell-Cooke is keen to highlight a few more products that are likely to sell well for re-tailers this year. Alternative gemstones, she says, are rising in popularity as consumers stray away from the classic diamond. “Yellow gold is also seeing a resur-gence in popularity,” the marketing manager explains, “thanks to celebrity influences such as Kendell Jen-ner’s preference for statement yellow gold jewellery and Megan Markle’s infamous three-stone yellow gold engagement ring.”

Finally, she adds that classic pieces of neckwear, wristwear and earrings can always be counted on, but

A

predicts that a second round of engagements could be on the cards as happy couples make wedding plans over the Christmas period and jewellers reap the rewards in ring sales.

Elsewhere, CME social media manager and buyer Tracey Toach believes that people will be looking for “a much-needed sense of energy, optimism and fun” in their jewellery this year, with yellow-plated gold chains “with pearls and sparkle” expected to prove profitable. The wholesaler is not putting all of its eggs in one basket, however, and promises a varied selection across all price points.

Gecko Jewellery general manager, Ruth Johnson, concurs: “With Christmas parties within reach we feel this year people will be seeking those ultimate sparkle pieces.” She mentions that the ‘ear party’ trend is likely to continue, adding: “Stacking up on those studs, hoops and long gems will be the goal this Christmas.”

CHRISTMAS STOCKING

Chantelle Serrell-Cooke,

Domino Jewellery.

AW21 REVIEW FEATURE


WE BELIEVE THAT CUSTOMERS ARE

NOT GOING TO HOLD BACK, WHETHER THEY ARE BUYING FOR THEMSELVES OR GIFTING TO OTHERS”

Finally, Mesmeric Distribution (UK distributor for Ti Sento – Milano) founder and managing director, Ju-dith Lockwood, is also hopeful that the

Top tips for retailers this Christmas

“We feel at Gecko that everyone will be out this year Christmas

shopping from as early as October,” enthuses Gecko’s Ruth Johnson.

“Last year Christmas was limited for so many due to restrictions and

lockdowns, and this year customers will want to celebrate more than

ever.” Whether this proves true or not, competition will be fierce this

year as businesses battle for survival, so PJ asked four retailers for

their advice on thriving as a jewellery retailer this Christmas.

“Attention to detail is more

important than ever, stocking

the right lines, at the right prices,

presenting them in the best way

possible combined with excellent

customer care,” suggests CME’s

Tracey Toach. “Successful high-

street retailers tell us that focusing

on creating the safest shopping

experience possible is absolutely

key right now.”

Judith Lockwood of Mesmeric

Distribution believes that self-

promotion will be key this year.

With everyone operating with

limited human contact for the past

year and a half she suggests now is

the time to create “human-focused

stories” through advertising and

social media channels.

Finally, for Domino’s Chantelle

Serrell-Cooke, success this winter

is simple. She explains: “We believe

the key to success is having the

right product offering supported

by a top-quality service. But once

retailers create the perfect product

offering, how do they remain

ahead of the competition? Service.

Service is key in today’s market,

with consumers expecting a level

of flexibility from retailers as well

as support in such a sentimental

and high-value purchase.”

“party season” will inspire customers to get back into jewellery stores. “We believe that customers are not going to hold back, whether they are buying

for themselves or gifting to others,” she says, expecting much of the population to splash the cash on pieces that are sure to make them feel glamorous.

The brands are also keen to note that their retailer support packages have changed, in some cases considerably, due to the pandemic. Mesmeric’s Lock-wood notes that certain elements of retailer support have not yet returned quite to normal despite the lifting of Covid restrictions. The managing di-rector admits her team “really misses” in-store customer events and evenings, but is confident they will be back soon.

“What we can still do,” the founder says, “is support through our social me-dia images, web images and web ban-ners. We also work as a team to respond as soon as possible to any enquiry.”

Likewise, Gecko’s Johnson mentions imagery, web-friendly catalogues, brand videos, social media posts, post-ers and its very own customer service team. Domino’s Serrell-Cooke con-curs that digital support has been on the rise since the pandemic, saying the brand has “completely overhauled” its online buying experience for bridal jewellery. Prioritising website develop-ment as much as digital support, CME emphasises the importance of recre-ating the in-person buying experience through online channels. Despite the challenges of working this way, Mes-meric Distribution’s Lockwood is grateful that when the pandemic came we at least had the technology to stay connected through it all. “We welcome every communication, however it ar-rives,” she says. “Facebook Messenger, social media replies, LinkedIn, Insta-gram, WhatsApp, text or even the good old phone call – they all mean we can have a chat at any time of day or night, no matter where a retailer is based, and that’s pretty special, helping us build new relationships in new ways.”

FEATURE ETHICAL JEWELLERY


It has never been more important to let cus-tomers know that your product is ethically and sustainably sourced. And that state-ment is likely to remain true for decades

to come as consumers become more and more demanding of retailers – both in terms of their practices and their products.

Even further up the supply chain, jewellery suppli-ers like Stuller are feeling the effects. Vice president of merchandising, Alix Gonsoulin, says: “Yes, we have seen an increase in demand related to ethical and sustainable manufacturing and sourcing within the fine jewellery industry. I believe this is driven by the demand from the end consumer.” The more companies get on board and up the ante, the more consumers demand.

SCS Global executive vice president, Stanley Ma-thuram, meanwhile, adds: “Jewellers can no longer af-ford to be seen as not using ethical business practices. This applies for today and will hold true in the future.”

CONSUMER DEMAND FOR RESPONSIBLE BRANDS AND PRODUCTS HAS NEVER BEEN HIGHER AND LOOKS TO BE HERE TO STAY. IN LIGHT OF THAT,

JEWELLERY BUSINESSES NEED TO FIGURE OUT HOW TO MAKE THEIR PRACTICES AS ETHICAL AS POSSIBLE WHILE NOT NEGLECTING TO MAKE

SURE THEIR BRAND IMAGE REFLECTS THIS.

The jewellery industry comes under particular scrutiny, perhaps because of historical blunders like the blood diamond furor.

In light of this universal truth, what are jewellery businesses doing to get ahead of the competition in this area? Humble as ever, River Mounts’ Yvette Kempson says: “River Mounts is by no means the market leader in sustainable jewellery, but we are inspired and motivat-ed by the ones that are.” In that spirit, the company does all it can to innovate when it comes to ethical practices. “Our sustainable shipping tins have proven incredibly popular with customers,” says Kempson. On top of this River Mounts is striving to become a paperless com-pany, and encourages its customers to behave the same way with the option of electronic invoices.

Next, Gecko’s Ruth Johnson says the company has made many changes this year. “These include carbon balancing all of our catalogues,” she says, “ensuring they are fully recyclable, including their laminated

YOU PREACHPractice what

ETHICAL JEWELLERY FEATURE


covers. We have also introduced a recy-cled leather collection into Fred Ben-nett and are about to launch a recycled silver collection in Fiorelli, all supplied with full recycled packaging.” The com-pany is even in the process of research-ing sustainable gemstone options for its future collections.

Fope has been focusing on a different area of the debate this year. CEO Diego Nardin says: “We have invested a lot in workforce wellbeing, as the pandemic has called for flexibility and more at-tention on health both physical and mental.” It has also, however, made its headquarters more eco-friendly with the addition of solar panels, as well as achieving carbon neutrality through in-vesting in tree-planting.

How to ensure your metals are ethically sourced

Anyone producing their own fine jewellery, from large-scale manufacturers right down to small independent jewellers, requires precious metals like gold, silver and platinum. With customers becoming more and more concerned with buying products and supporting companies that do as little damage to the world as possible, businesses will have realised the growing importance of working with ethically sourced materials. But how does one go about sourcing ethical and sustainable precious metals, especially when buying from a company on a different continent?.

Fortunately, Charlie Betts,

managing director of

precious metals expert

Betts Group, has answered

that very question. He

tells Professional Jeweller: “Responsible sourcing

is firstly about engaging

with your supply chain. I

don’t think you can claim

to be sourcing anything

responsibly if you really

don’t even know where it

comes from.”

Next, the managing

director says, it is about

ensuring that there are

no untoward practices

involved in the product’s

history. “You really want to

know that the metal has

been produced according

to international best

practice,” says Betts, “and

there are several ways of

doing that.

“It could be through a

corporate mine, which is

the area we focus on in

the supply of Single Mine

Origin (SMO) certified gold.

There are also fantastic

initiatives such as Fairtrade

and Fairmined which

focus on the artisanal and

small-scale mining sector.”

Betts adds: “It’s also really

important that we recycle

metal too but we can’t

often make a provenance

claim when dealing with

recycled metals, unless we

know exactly what they

have been recycled from.”

Next the MD tells PJ

how Betts Group can

help a jewellery business

in need of responsibly

sourced metals. He says:

“Material provenance is the

single greatest focus of

our strategy. We’re at the

very forefront of creating

responsibly sourced SMO

gold which can be fully

traced to a well-managed

corporate mine, compliant

with strict CSR and

environmental standards.

It’s a real game-changer for

the trade.

“We use SMO

certified gold in all of

our manufactured gold

products, providing an

auditable chain of custody

for the entire supply chain.

We believe that this should

be a priority across the

whole industry, which is

why we do not charge a

premium for SMO gold,

making it an affordable and

responsible option.”

Betts Metals also claims

to be the only UK refinery

currently working with

both Fair Mined and SMO

gold. “We are also proud

to be the only UK refinery

audited and FLOCERT-

accredited to produce

Fair Trade gold and silver,”

continues Betts. “As a

business with more than

260 years of experience,

brands and retailers can

rely on us to guide them

through the full breadth

of sustainable options

available to them.”

Almost as important as being ethical is shouting about it so that your cus-tomers know. One of the best ways of doing this is by becoming accredited by a third party. Green Rocks Created Dia-monds UK sales manager, Maiko Eaton, reveals: “A few weeks ago, we were cred-ited with the SCS 007 sustainably rated

diamond certificate for our production in Nesher, Israel. It has been years of work to get to this point, but we always believed in this certification and that it was the right thing to do. SCS rep-resents the best in our industry, and I hope that this will become the standard of what a business needs to do to show it is making the right steps.”

Summing up these two separate ele-ments crucial to becoming a success-ful ethical business, Suraj Poddar, CEO of Uniglo Diamonds, adds his opinion: “Two things are important for com-panies to do. Consumers should be in-formed about how a brand conducts its business, but talking about ethically sourcing is not enough – we actually need to practice what we preach too.”

INTERVIEW HATTON & SPENCER


JEWELLERY PACKAGING SPECIALIST HATTON AND SPENCER IS LOOKING

FORWARD TO THE FIRST POST-PANDEMIC CHRISTMAS, BUT WARNS JEWELLERS

THAT THEY MAY LOSE OUT IF THEY DO NOT TAKE TIME TO CONSIDER THEIR

JEWELLERY BOX AND GIFT WRAPPING OPTIONS EARLY THIS YEAR.

ith everything else on a jeweller’s to-do list in the lead-up to Christ-mas, taking time to choose the right packaging for your product

can fall by the wayside until it is too late, resulting in a rushed decision and a suboptimal choice. This, believes Hatton and Spencer’s Anne Chambers, can be a fatal mis-take for a jewellery business.

“First impressions do count,” the managing partner emphasises. “Despite the well-known saying, people almost always judge a book by its cover.” For this rea-son alone, packaging can make or break a luxury retail-er. “It really does pay to invest time and resources into making sure your packaging and displays add maxi-mum value to your product,” she adds. “Get it right and you won’t just put a smile on your customers’ faces, you’ll make them feel special and make your product even more memorable.”

Perhaps surprisingly to some, men are willing to spend more on gift wrapping when it comes to jew-ellery – anywhere between £3 and £10 according to Chambers. She reveals: “Men are far more likely to request professional gift wrapping when purchasing a gift for their partner. Interestingly, women are more likely to purchase gift-wrapped goods for their mum than their other halves – so tailoring the type of wrap-ping is important.” Gift notes, she says, can be a low-cost addition that can bump up revenue.

The quality of packaging used can have a drastic ef-fect on customer perception of the product. Research from Hatton and Spencer’s partner company, Ch. Dahlinger, showed that customers valued a €16 ring at €75 when displayed in a budget plastic box, and at €400 when in a luxury box. “Talk about adding value,” exclaims Chambers.

High-quality packaging in luxury industries is even known to have a long-term effect on consumer behav-iour. “Introducing a gift-wrapping service can lead to an increase in repeat orders, more word-of-mouth rec-ommendations and is associated with investment in customer service,” Chambers says. Almost unbeliev-ably, she claims, gift-wrapped goods are actually per-ceived to be better value for money too.

W

SUSTAINABLE PACKAGINGHowever, it is not as simple for retailers as just pick-ing the most expensive-looking packaging out there. Of course, the design should match a jeweller’s prod-ucts and overall aesthetic to some degree. However, one important aspect that consumers are increasingly concerned with is sustainability – not just of a product but of its packaging too. In fact, packing is often seen as more of a culprit when it comes to climate change and clogging up our oceans because it is often disposable by comparison to a long-term investment with resale value such as a piece of jewellery.

Chambers warns: “The 2022 consumer will be more ethically minded than ever, and brands and retailers should be building their business with a conscience. For brands that already have strong sustainability credentials, now is the time to shine the spotlight on

BOXING RINGS

HATTON & SPENCER INTERVIEW


A GIFT-WRAPPING

SERVICE CAN LEAD TO AN INCREASE IN REPEAT ORDERS”

them; for those that don’t, the new nor-mal could serve as an opportunity to strengthen your commitments. Jewel-lery retailers and brands should adopt eco-friendly practices as part of their product’s manufacturing and employ reusable or recyclable product packag-ing.” They should also seek the relevant certification to prove their dedication in this area.

‘SHIPPAGEDDON’Almost irrespective of product type, re-tailers have found themselves plagued by supply chain issues in the past 12 months or so, and the luxury sector has been no different. Chambers explains: “Recent events have conspired to drive global supply chains towards breaking point, threatening the fragile flow ac-cording to companies, economists and shipping specialists.” She cites Brexit and the Delta variant of Covid-19 as playing a particular part in the issues seen through the third quarter of 2021.

“’Extremely challenging’ are the words I hear most at the moment in discussion of what the press is call-ing ‘Shippageddon’,” Chambers says grimly. “From a jewellery packaging perspective there are likely to be ex-tended lead times and stock issues for a number of companies in November and December.” Any retailer who has not been living under a rock will know that this issue is not going to disappear overnight and is not merely confined to jewellery packaging or even the wider jewellery industry, but is affecting a wide range of products. “Luckily we already have huge amounts of stock in our warehouse with additional stock landing each month to meet the fore-cast,” Chambers assures customers. With increased demand and problems with supply, however, she has one bit of advice for businesses, irrespective of what they are buying: “If in doubt, the earlier you order for Christmas, the better.”

The Hatton and Spencer product range

What exactly does the supplier offer to jewellers? Managing partner Anne Chambers boils down the company to one brief sentence, saying: “Hatton and Spencer focuses on trend-led packaging, displays and accessories to help businesses stand out on the high street and online.”

She sums up its three jewellery box categories with similar ease.

Hinged boxesThese come as both contemporary designs with tactile soft-touch coatings and velvet-suede inserts as well as more traditional packaging options with classic detailing and materials. “A hinged box is always an elegant choice,” says Chambers.

Lift-off lid boxesThe many different lift-off lid boxes in the Hatton and Spencer range mean there is an option for

any jewellery brand – whether fashion or fine. “They add value to your brand and create the perfect backdrop for any jewellery,” Chambers reveals.

Postal packagingMade especially for jewellers fulfilling online or postal orders, Hatton and Spencer’s postal packaging is designed with narrower dimensions and lightweight materials to cut down on distribution costs but also “ensure jewellery remains in beautiful condition as it travels to your customers”.

TELL US SOMETHING ABOUT YOURSELF

THAT NONE OF YOUR COLLEAGUES

KNOW?I was trained to be a bra fitter when I worked

at Harrods.

WHAT’S THE BEST PIECE OF ADVICE YOU’VE EVER

RECEIVED? To treat everyone

with the same respect and kindness you would wish for

yourself.

WHICH OTHER COMPANY OR BRAND (INSIDE OR OUTSIDE THE INDUSTRY) DO YOU MOST ADMIRE AND WHY?

Tiffany & Co. They continually reinvent themselves through interesting collaborations alongside beautiful design, with designers like Elsa Peretti and the architect Frank Gehry. The new campaign with Beyoncé and Jay Z backed

with a Basquiat is another inspired move.

IF YOU WON THE LOTTERY, WHAT ONE LUXURY ITEM OR EXPERIENCE WOULD

YOU BUY?To have a house in Maui, Hawaii, and

be able to fly all my friends and family

there for wonderful holidays.

IF YOU COULD INVITE THREE PEOPLE TO A DINNER PARTY, WHO

WOULD THEY BE? Loyle Carner,

Dave Grohl and Anna Wintour.

WHAT WAS THE LAST THING THAT MADE YOU LAUGH OUT LOUD?

My children – they are hilarious!

WHAT DO YOU MOST ENJOY ABOUT WORKING IN THE INDUSTRY?

Apart from the obvious – the

jewellery itself – it’s the people.

The passion for the industry is

wonderful. I was so excited to

start my new role at WOLF this

summer - it’s great to be back.

WHAT DO YOU ENJOY DOING OUTSIDE OF WORK?

Walking in the

Surrey Hills, watch-

ing my children play

rugby and cooking

for friends and family

with a glass of wine

in hand.

WHAT’S YOUR MOST MEMORABLE MOMENT IN THE INDUSTRY TO DATE?

Holding one of the Donnersmarck Diamonds, a 102.54 carat yellow diamond, up to the light in the

Sotheby’s auction view and watching the room fill with sparkling rays of light like a

kaleidoscope.

WHAT’S THE MOST DIFFICULT PART OF YOUR JOB?

Having enough time in the day! WOLF is a very exciting place to be at the moment: lots of

events, trade shows (they’re back at last) and we have lots of new campaigns and projects coming up

in 2022.

HOW MANY YEARS HAVE YOU WORKED IN THE JEWELLERY SECTOR AND HOW DID YOU GET INTO THE INDUSTRY?

On and off for 20 years. I was lucky enough to be assigned the global jewellery department when I worked as senior marketing manager at Sotheby’s. I worked with some wonderful jewellery experts from around the world who

inspired my love of jewellery.

GET TO KNOW KATE YERRELL


Would you or a colleague like to take part in PJ’s ‘Get to Know’? If so, drop a line to [email protected]

GET TO KNOW...

WHAT’S THE FIRST THING YOU DO WHEN

YOU GET INTO WORK IN THE MORNING?

Make myself a strong black coffee and check my

emails.

KATE YERRELLUK & EUROPE MARKETING MANAGER, WOLF

U K 0 8 0 0 1 9 5 6 7 7 1 | R O I 1 8 0 0 6 2 5 1 6 3 | i n f o @ c u r t e i s . c o m

w w w . c u r t e i s . c o m

For all partnership inquiries please contact

O U R S P I R I T. O U R N AT U R E . Birks.com

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PROFESSIONAL JEWELLER