Piaget’s Diamond Heliconia Necklace Brings to Mind a Stunning Tropical Bloom

Piaget Wings of Light Diamond Heliconia Necklace

The Diamond Heliconia Necklace, a creation from Piaget’s latest Wings of Light Collection, evokes a tropical bloom with 130 gorgeous pear-shaped diamonds.

Piaget’s latest high jewellery collection, Wings of Light, invites you to escape to a fantasy land of magic, mystery, romance and rarity. The creations embody a flourishing natural utopia, while capturing the splendour of a lush, secret jungle filled with hidden treasures. Drawing inspiration from exotic bird plumage, vibrant flowers and sunsets, a universe of extraordinary shapes and colours awaits.

Showing off the maison’s unsurpassed skill in recreating naturalistic pieces is this Diamond Heliconia Necklace. A breathtaking 130 pear-shaped diamonds and 16 brilliant-cut diamonds totalling 44.81 carats evoke the distinctive tropical blooms with flowering bracts.

The vines intersect to lead the gaze to a spectacular pear-shaped fancy vivid 6.46-carat yellow diamond. Remaining true to the precision the maison is known for, the necklace is a transformable piece that can be worn four different ways.

Source: Piaget

Jewelry Sales Down 54 per cent in Hong Kong

hong kong

Sales of jewelry and other luxury goods in Hong Kong fell by more than half in July, according to new figures.

It was the worst affected sector of all, with a year-on-year decline of 53.7 per cent to $328m.

Sales were hit by the ongoing coronavirus pandemic, a two-week quarantine requirement for tourists from mainland China, and continuing anti-government protests.

Figures for the first half of 2020 show revenue from revenue from jewelry, watches, clocks and other valuable gifts was down by 64 per cent to $2.14 bn.

Total retail sales for all sectors were down 23.1 per cent compared with July 2019, at about $3.41bn, according to data released yesterday by the Census and Statistics Department of the Hong Kong Special Administrative Region HKSAR government.

Source: IDEX

Covid-19 Ravages De Beers Sales

Canadian rough diamond

De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines.

“Demand for rough diamonds was significantly impacted by a combination of Covid-19 restrictions [affecting] consumer demand and access to southern Africa, as well as severely limited midstream cutting-and-polishing capacity due to lockdowns, particularly in India,” De Beers said Thursday.

Rough sales slumped 96% year on year to $56 million after the company canceled its March-April sight — the first of the quarter — and allowed clients to defer all May and June purchases to later in the year. Sales volume plunged 97% to 300,000 carats, and prices fell as well, the miner noted.

Most sightholders were unable to attend the usual sales in Botswana due to travel restrictions. The pandemic also affected international shipments.

Meanwhile, the shutdown of India’s manufacturing sector reduced rough demand: Factories in Surat, the country’s cutting hub, closed in March for around two months, and ongoing virus outbreaks have disrupted the reopening process.

De Beers’ rough production fell 54% to 3.5 million carats during the quarter as the miner lowered its output to reflect the weak demand. Measures by southern African governments to contain the coronavirus also limited the company’s ability to operate, with Botswana and South Africa accounting for a large proportion of its mining activities, alongside Canada and Namibia.

Sales volume for the first half of 2020 slid 44% year on year to 9.2 million carats, with the average selling price down 21% at $119 per carat. The company sold a higher proportion of lower-value rough than a year ago, and average rough prices across the period slipped 8% year on year on a like-for-like basis.

Despite these setbacks, De Beers maintained its production forecast of 25 million to 27 million carats for the full year. However, it will review this outlook based on Covid-19 disruptions and “the timing and scale of the recovery in demand,” it said.

Source: Diamonds.net

Sales slide at Tiffany & Co as tourists tighten their purses

Tiffany Profits Quadrupled In Fourth Quarter

Sales performed below expectations for Tiffany & Co during the first quarter of 2019.

For the three months ended April 30, worldwide net sales fell by 3% to $1bn compared to the previous year, and comparable sales declined by 5%. On a constant exchange rate basis, net sales were equal to the prior year and comparable sales declined 2%.

Net earnings came in at $125 million, 12% lower than the prior year’s $142 million.

These results reflect mixed performance across regions and product categories.

During the quarter engagement rings sales decline by 6%, while jewellery collections saw a 1% increase.

Totally net sales declined in the major markets, with Europe and the Americas both reported a 4% decline, with the latter being impacted by lower spending from foreign tourists. In Asia Pacific total net sales fell by 1%, something the brand attributes to the effect of foreign currency translation.

As a result of Q1, Tiffany has trimmed its earnings outlook, now expecting earnings in the 2019 financial year to increase by a low to mid single digit percentage, compared with its previous forecast for a mid single digit percentage increase.

Tiffany’s chief executive officer, Alessandro Bogliolo, reports: “Our first quarter results reflect significant foreign exchange headwinds and dramatically lower worldwide spending attributed to foreign tourists. That said, we were pleased that, at the core of our business, global sales attributed to local customers, led by sales in China, grew over last year’s very strong sales results.

“We believe this growth in sales to local customers reflects progress in executing our strategic priorities, including innovations across products, communications and the customer experience, and that Tiffany is positioned for improving trends in the second half of 2019.”

Tiffany opened two company operated stores in the first quarter, closed two stores and relocated two.

At April 30, 2019, the Company operated 321 stores (124 in the Americas, 89 in Asia-Pacific, 56 in Japan, 47 in Europe and five in the UAE), versus 314 stores a year ago (123 in the Americas, 87 in Asia Pacific, 54 in Japan, 46 in Europe and four in the UAE).

Source: professionaljeweller

De Beers Closes Diamond-Reselling Unit

De Beers Diamond Solitaire Jewellery

De Beers is shutting its diamond-recycling division, as digital advancements in the sector have lessened the need for its services.

The International Institute of Diamond Valuation (IIDV) was set up in 2016 to repurchase and recycle diamond jewelry that consumers no longer wanted. De Beers began the operation after noting the difficulty consumers faced in trying to sell their jewelry at a fair price. The venture provided a means of emphasizing the enduring value of diamonds, De Beers said.

However, since IIDV launched, technology in the industry has improved, and online consumer-to-consumer selling platforms have become a more popular option, the company explained.

“Following a number of years gaining experience in the diamond-recycling sector, we have taken the decision to suspend the activities of the International Institute of Diamond Valuation,” David Johnson, De Beers’ senior manager for media and commercial communications, told Rapaport News Thursday.

While the project is no longer a viable option, it has provided De Beers with valuable insight into consumer behavior and the needs of its retail partners, Johnson explained.

“We know that consumer acceptance of the consumer-to-consumer market is growing and likely to be the future of this sector, and we will therefore continue to look for opportunities in this space,” he added.

Image: Diamond solitaire earrings. (De Beers)

Source: Diamonds.net

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Jewellers Association of Australia

Jewellers Association of Australia

Jewellers Association of Australia (JAA): Overview and Role in the Jewellery Industry
The Jewellers Association of Australia (JAA) is the leading trade association for professionals and businesses in the Australian jewellery and gemstone industry. Established with the aim of supporting and promoting the interests of those involved in the jewellery sector, the JAA represents a diverse range of members, including retailers, manufacturers, wholesalers, suppliers, importers, exporters, watchmakers, and valuers. The association plays a crucial role in ensuring the growth, development, and sustainability of the industry by providing a platform for collaboration, advocacy, and professional development.

Primary Objectives of the Jewellers Association of Australia
Advocacy and Representation: One of the core functions of the JAA is to advocate on behalf of its members, ensuring their interests are represented at local, state, and national levels. The association works with government bodies and industry regulators to influence policies and regulations that impact the jewellery trade. This includes advocating for issues such as consumer protection, fair trading practices, and industry standards.

Industry Standards and Best Practices: The JAA plays a key role in promoting high standards of practice within the jewellery industry. By developing and implementing industry guidelines, ethical standards, and codes of conduct, the association ensures that its members adhere to best practices in areas such as product quality, customer service, and business integrity. This helps build trust with consumers and ensures a fair, transparent market for all stakeholders.

Training and Professional Development: The JAA offers a wide range of training and educational opportunities for individuals and businesses involved in the jewellery industry. This includes workshops, seminars, and accredited courses designed to enhance skills and knowledge in various aspects of the trade, including jewellery design, manufacturing techniques, gemstone identification, valuation, sales, and marketing. By fostering continuous learning, the association helps its members stay competitive and up-to-date with industry trends and innovations.

Networking and Collaboration: The JAA serves as a central hub for networking and collaboration within the Australian jewellery sector. Through regular events such as trade shows, conferences, and industry gatherings, the association provides opportunities for members to connect with suppliers, partners, and peers. These events promote business growth, foster relationships, and create opportunities for joint ventures and collaborations.

Consumer Protection and Public Trust: In addition to advocating for industry members, the JAA also focuses on ensuring consumer protection within the jewellery market. The association works to establish clear guidelines for jewellery products, ensuring that consumers can trust the quality, authenticity, and value of the items they purchase. The JAA promotes responsible business practices among its members, ensuring that consumers receive fair treatment and high-quality products.

Promoting the Jewellery Industry: The JAA plays a crucial role in raising awareness of the Australian jewellery industry both domestically and internationally. By showcasing the talent and craftsmanship of Australian jewellers, the association helps promote the industry as a whole, driving demand for Australian-made jewellery and supporting local businesses. This includes initiatives aimed at increasing the visibility of Australian jewellery in the global marketplace, fostering exports, and attracting international buyers.

Membership and Benefits
The Jewellers Association of Australia offers membership to businesses and individuals at all levels of the jewellery trade. Members can access a wide range of benefits, including:

Access to Industry Resources: Members receive access to a variety of industry resources, including market reports, business guides, and regulatory updates. These resources help members stay informed about key trends, new regulations, and other developments in the jewellery sector.

Discounted Services and Products: The JAA negotiates special deals and discounts for its members on various services and products related to the jewellery trade. This may include discounts on insurance, business services, tools and equipment, as well as access to exclusive deals from suppliers.

Professional Recognition and Credibility: Being a member of the JAA provides professional recognition within the jewellery industry. Membership signifies that a business or individual adheres to the highest standards of practice, which can enhance credibility and trust among customers, partners, and suppliers.

Marketing and Promotional Support: The JAA offers marketing and promotional support to its members, including access to industry events, advertising opportunities, and media partnerships. This helps businesses increase their visibility and attract new customers.

Legal and Regulatory Support: Members receive guidance and assistance on legal and regulatory matters related to the jewellery trade. This includes advice on consumer protection laws, product compliance, and business practices, helping businesses navigate complex legal frameworks.

Insurance Programs: The JAA provides members with access to specialised insurance programs tailored to the jewellery industry, including coverage for stock, theft, liability, and more. These insurance options ensure that businesses are adequately protected against risks and challenges.

JAA Events and Trade Shows
The Jewellers Association of Australia hosts a variety of key events throughout the year, including:

JAA Jewellery Trade Fair: One of the most significant events on the Australian jewellery calendar, the JAA Jewellery Trade Fair brings together jewellers, suppliers, and manufacturers from across Australia and around the world. The fair provides an opportunity for industry professionals to showcase new products, connect with potential business partners, and gain insight into emerging trends.

Workshops and Seminars: The JAA organises a series of workshops and seminars on various topics related to the jewellery trade, such as design techniques, gemology, sales strategies, and business development. These events offer valuable learning opportunities for both new and established professionals.

Networking Events and Galas: The association also hosts networking events and galas, where members can socialise, discuss industry trends, and build professional relationships in a more relaxed setting. These events foster collaboration and camaraderie among jewellery professionals.

The Future of the Jewellers Association of Australia
As the jewellery industry continues to evolve, the Jewellers Association of Australia remains dedicated to ensuring the growth and success of its members. The association is committed to adapting to new challenges, such as technological advancements, shifting consumer preferences, and changes in the global market. By continuing to provide advocacy, education, and support, the JAA will help shape the future of the Australian jewellery industry, ensuring that it remains vibrant, innovative, and sustainable.

The JAA is a key driver of excellence in the Australian jewellery sector, playing a vital role in maintaining the integrity of the industry, supporting its members, and contributing to the broader economy. Through its efforts, the association strengthens the reputation of Australian jewellers both domestically and internationally, helping them thrive in an increasingly competitive marketplace.