May. Greater China 18 China steps up efforts to protect intellectual property rights 20 China s retail landscape undergoes fundamental change

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4 In the May 2017 issue Issue number 393 CONTENTS Moises Nieto / Image.net by Getty Images News 7 Strategy expert joins JNA Awards 2017 judging panel 8 Entice dazzles with innovative diamond jewellery line 9 New colourful collections from Charriol JNA Style File 10 Art and romance 12 Hollywood glamour 14 Beautiful simplicity In Love With Platinum 16 Looking ahead for platinum Next issue Gemstone dealers share their insights into the latest trends, and supply and demand outlook for sapphires. * All figures in this publication are in US dollars unless otherwise stated. 24 Greater China 18 China steps up efforts to protect intellectual property rights 20 China s retail landscape undergoes fundamental change JCK Special Trendy Chic 23 Elegance & Grace Jewellery 24 HK jeweller focuses on attainable luxury category 29 Turkey shines in jewellery design and manufacturing 32 Innovation, quality service fuel HK jeweller s success Conversations 34 Fine jeweller gears up for international expansion Design 36 Pinky Szeto: Lady in pink Technology 38 Jewellery equipment firm offers latest products 40 Gold jewellery device from Italy 41 XRF gold-testing machine Trade Fairs 42 Positive mood reigns at Istanbul Jewelry Show 44 Jewellers, watchmakers launch inspired collections at BaselWorld Pearls 48 Designers find poetic inspiration in Tahiti 50 Strong auction sales hint at positive business prospects Gemstones 52 Traders highlight rosy future for rubies 56 Asterism Gems with a star Diamonds 60 Storytelling vital to natural diamond industry 61 Gemstone specialist launches couture collection 62 Reena s glorious, luminous diamonds 64 New diamond-testing device from GIA 65 Alrosa sets the stage for 2018 contract period 66 Petra Diamonds cites improving market demand On the Cover Statement ring from Italian Design Srl s Coralia Collection. The ring is set with a Paraiba tourmaline centre stone and features the brand s signature sponge effect on metal. To know more about Italian Design s expanded Coralia line, turn to page 9. 4

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6 Visit us on Facebook Published by UBM Asia Ltd 17/F, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong Telephone: (852) Fax: (852) Group Publisher Irene Foo Meet the international Gemworld in Munich. EDITORIAL Editor Assistant Editor Staff Writers Marie Feliciano Bernardette Sto. Domingo Christie Dang, Olivia Quiniquini, Sze Man Young, Dodo To (Shenzhen) SALES Head of Sales, Regional Advertising Manager Account Manager Christine Sinn Tina Hui Jennifer Chan MARKETING AND CIRCULATION Senior Marketing Executive Grace Tam Senior Circulation Executive Lonita Hui ONLINE & SOCIAL MEDIA Assistant Marketing Manager Winkle Yim Senior Marketing Executive Althea Long PRODUCTION Senior Production Manager Designer Advertising Administration Jessie Quek Armando Recio Eva So REPRESENTATIVE OFFICES China: Japan: Korea: Taiwan: Thailand: Wendy Yip, UBM China (Guangzhou) Co Ltd Tel: (86) Fax: (86) Shenzhen Office Tel: (86) Fax: (86) Nobuaki Nito, UBM Japan Co Ltd, Tel: (81) Fax: (81) Sue S J Seo, UBM Korea Corporation Tel: (82) Fax: (82) Sabine Liu, UBM Asia Ltd - Taiwan Branch Tel: (886) Fax: (886) Anuchana Vichvech, UBM Asia (Thailand) Co Ltd Tel: (66) Fax: (66) ADVERTISING REPRESENTATIVE Italy: Mauro Arati, Studio Luciano Arati sas, Largo Camus, 1, Milano - Italy Tel: (39) Fax: (39) President & CEO Senior Vice President Founder Jimé Essink Wolfram Diener Letitia Chow Mei Lai Copyright Contents of Jewellery News Asia are copyright. Reproduction of material in part or in whole is not permitted in any form without the written authorisation of the publisher. Jewellery News Asia is published in Hong Kong each month and is available on subscription. Printed by Asia One Printing Limited,13/F, Asia One Tower, 8 Fung Yip Street, Chai Wan, Hong Kong. Europe s top show for gems & jewellery in autumn.

7 NEWS Strategy expert joins JNA Awards 2017 judging panel The JNA Awards, one of the most prestigious and coveted awards in the international jewellery and gemstone industry, has announced that Mark Lee, research director of the Asia Pacific Institute for Strategy, is the latest to join the 2017 judging panel. The JNA Awards is known for its transparent, fair and intellectually rigorous judging process. Lee will be joining an esteemed panel of industry experts, namely Albert Cheng, advisor to the World Gold Council (WGC) and former managing director of WGC, Far East; James Courage, former chief executive of Platinum Guild International and former chairman of the Responsible Jewellery Council; Lin Qiang, president and managing director of the Shanghai Diamond Exchange; Nirupa Bhatt, managing director of the Gemological Institute of America in India and the Middle East; and Yasukazu Suwa, chairman of Suwa & Son Inc. Letitia Chow, founder of JNA, chairperson of the JNA Awards and JNA Awards 2016 recipients and honourees director of Business Development Jewellery Group at UBM Asia, said, We are very honoured to welcome Dr. Lee on board. His vast and diverse experience working with multinationals and corporations offers a valuable perspective from a business operational standpoint to the judging panel. Lee shared, To maintain sustainable growth, every industry should pay attention to marketing and innovation while cutting-edge design is necessary to put the two into real action. I am very honoured to be a member of the judging panel for the JNA Awards this year. I look forward to sharing my experience on business strategy and operations with my fellow judges. Lee has more than 20 years of research and teaching experience in the areas of innovation, strategy and leadership. He has worked with multinational and local enterprises such as Chow Tai Fook, Amorepacific, IKEA, 7-Eleven, MTR Corporation, Sino Group, AXA and Crown Motor. Mark Lee, research director of the Asia Pacific Institute for Strategy A dynamic and engaging speaker, he has been invited to speak before leading associations including the American Chamber of Commerce, Hong Kong Brand Development Council, Chinese Manufacturers Association of Hong Kong, GS1 and the Hong Kong Exporters Association. JNA is making a final call for entries for the 2017 edition of the JNA Awards. There is no fee to enter the JNA Awards and interested parties may submit their entry forms online until midnight (Hong Kong time) of May 5, The JNA Awards 2017 is supported by Headline Partners Rio Tinto Diamonds and Chow Tai Fook, together with Honoured Partners KGK Group, the Shanghai Diamond Exchange, Guangdong Gems & Jade Exchange, and Guangdong Land Holdings Ltd. The Honourees or shortlisted entrants will be announced on June 22, 2017 at the June Hong Kong Jewellery & Gem Fair. To know more about the JNA Awards, please visit JNA May

8 NEWS Entice of the KGK Group has once again captivated the world of fine jewellery with the launch of its latest floral-inspired diamond jewellery collection. The stars of this collection are yellow diamonds set in intricately designed necklaces, earrings and rings. Highlights of the collection include a long, asymmetrical diamond necklace embellished with an carat pear-shaped emerald, and an exclusive array of chandelier earrings adorned with fancy shaped diamonds. Another eye-catching piece from the collection is a cocktail ring accentuated with emeralds, sapphires and rose-cut diamonds. The collection was earlier unveiled at BaselWorld. Manju Kothari, creative director at Entice, commented, The uniqueness of Entice jewellery lies in its unmatched elegance and chic flair synonymous to the brand s commitment to excellence. Entice s latest diamond jewellery collection is exclusively sold at the brand s Hong Kong branch, according to the company. The collection will be made available in India later this year. JNA Necklace adorned with white and yellow diamonds by Entice Xifu jewellery design competition unveils global initiative The Xifu International Gold Wedding Jewellery Design Competition 2017 is forming the Global Alliance of Design Institutes to help nurture promising jewellery designers around the world. Aimed at establishing best practices in jewellery design across international markets, the initiative endeavours to provide a platform for the exchange of ideas among leading design institutes worldwide to cultivate talent, enhance creativity and share cross-cultural experiences. The Global Alliance of Design Institutes was launched at a forum organised by the Xifu International Gold Wedding Jewellery Design Competition 2017 in Shenzhen, China, on April 19, The forum s panel of industry leaders and design experts warmly welcomed the initiative. They noted that greater collaboration among learning establishments, coupled with further research and development, would help elevate the standard of jewellery designs in the market by infusing local academic approaches with international perspectives. Organised by JNA and CJNA of UBM Asia, the World Jewellery industry stakeholders at a forum organised by the Xifu International Gold Wedding Jewellery Design Competition 2017 in Shenzhen Gold Council and the People's Government of Yantian District, Shenzhen, the biennial Xifu International Gold Wedding Jewellery Design Competition aims to usher in a new era in gold wedding jewellery by encouraging designers from around the world to reflect wedding traditions and customs through fresh and creative designs. Panellists at the forum also shared their interpretation of the 2017 competition's theme, "Oneness," to provide aspiring contestants with useful insights on designing appropriate entries. The Xifu International Gold Wedding Jewellery Design Competition 2017 is accepting entries until May 31, JNA 8 May 2017

9 NEWS New colourful collections from Charriol Charriol is offering a more colourful selection of luxury jewellery and watches. According to the company, the 2017 collections feature daring colour palettes, from bold and vibrant shades to pastels. Charriol s core DNA, the signature Celtic twisted cable motif, remains at the heart of each design, as elegant and timeless today as it was when it first appeared over three decades ago, the company said. Headlining its luxury watch line is the GreenLight variant, which is embellished with tsavorites on the bezel and lugs, with matching tsavorite counters on the dial. The GreenLight model is also in step with Greenery, the Pantone Colour of the Year. The company is also shining the light on the newest member of the COLVMBVS Collection a quartz timepiece for women. The COLVMBVS Prune commands attention with its bold hues, which evoke royalty and reflect the Charriol house colour. Inspired by legendary explorer Christopher Columbus, the COLVMBVS line embodies Charriol s values of discovery and entrepreneurship. The Forever Jewelry line, meanwhile, features subtle symbols and ultra-slim reworking of the signature Charriol twisted cable motif. The steel cable is wound neatly between two rims, like the thread on a couturier s bobbin. JNA Charriol s St-Tropez GreenLight watch with tsavorites Wonders of the sea from Italian Design Italian Design Srl is out to dazzle jewellery collectors and traders with its well-loved ocean-inspired collections. Recognised for creating handcrafted jewellery pieces that resemble miniature sculptures, the company is once again casting the spotlight on the Coralia and Mermaid Collections in time for the summer season, noted Silvia Prandoni, the company s marketing director. The latest rings from the Coralia line are embellished with Paraiba tourmalines, opals and tanzanites. JNA Coloured gemstone-studded ring by Italian Design Pandora targets Indian market Danish jeweller Pandora is expanding its reach to India with the opening of a concept store, further strengthening the company s global expansion initiatives. With more than 2,100 concept stores around the world, Pandora maintains a foothold in more than 100 countries. Pandora s latest store, which opened in New Delhi in April, is owned and operated by the company s distribution partner, Pan India Charms & Jewellery Private Ltd (Pan India). David Allen, Pandora s president of EMEA, commented, Entering one of the largest jewellery markets in the world is an integral part of our strategy to increase our global footprint, bringing our brand closer to our consumers around the world. We are thrilled and excited to start this journey with our partner and distributor, to establish the Pandora brand in India. In January, Pandora signed a letter of intent with Pan India, granting the company exclusive distribution rights for Pandora jewellery in India. Charm bracelets by Pandora Pandora plans to open around 50 more concept stores across the country over the next three years with an initial focus on Delhi, Mumbai and Bangalore. Around five stores are scheduled to open in 2017, the jeweller revealed. JNA May

10 JNA STYLE FILE 1 2 Art romance and Fashion brand Miguel Marinero launched Pentimento, a collection inspired by 17 th -century Spain, 80s fashion and the artwork of baroque painter Diego Velázquez. The Autumn/Winter 2017 Collection features 33 looks that demonstrate the brand s refined patterns, excellent tailoring and flair for fusing decades past with contemporary styles. The blend of cotton, wool, silk and crepe, with velvet, paillettes, marten, pekan and fox creates a sensual and elegant silhouette that corresponds with the woman that this collection is aimed at. The colours, inspired by Velázquez s paintings, are evident in the embroidery and dyeing of fabrics and fur, and in the sewing of the tiny paillettes, which are carefully embroidered in dresses. The latter brings to mind glittering brush strokes. Collections by leading jewellery brands give the perfect finish to Pentimento s bold and exciting looks. 10

11 JNA STYLE FILE A pair of earrings from Chantecler s Capriful Collection. The collection s main feature is the drop carved from red or pink coral, turquoise, kogolong, onyx and grey mother-of-pearl shells 2. Gold bangle with coloured gemstones from Marco Bicego s Jaipur Collection. Marco Bicego is exploring a new concept of flexibility by creating a line of rigid yet flexible bangles that mount one or two gems. The collection include rings, bracelets and necklaces 3. Angel skin coral from Capri and Tanzanian pink spinel earrings in 18-karat rose gold by Sutra Jewels. The pink corals have a total carat weight of 11; the pink spinels have a combined weight of 5 carats; and the diamonds have a total carat weight of 4 4. Rings from Tirisi Jewelry Milano s Sweetie Milano Collection 5. Looping Shine bracelet by Brumani. The collection s defining features are interlacing links in rose gold embellished with loops set with diamonds and double-facetted quartz stones 6. Wide gold-accented bangle from Picchiotti s Xpandable Collection. Since its introduction in 2016, the Xpandable Collection has met with tremendous success worldwide. This revolutionary line of diamond and coloured gemstone jewellery uses innovative and invisible technology to expand and contract, solving various challenges concerning comfort and fit Photo credit: Runway photos from Image.net by Getty Images 11

12 JNA STYLE FILE 1 2 Hollywood glamour Drawing inspiration from David Lynch s neo-noir mystery film, Mulholland Drive, Moises Nieto created a visual feast of beautifully structured midi dresses, offshoulder tops and chic jackets for his Autumn/Winter Collection. The colour palette is dominated by intense bursts of blue, red, maroon, purple and orange. The energy and vitality in Nieto s collection are also evident in the creations of fine jewellery brands Tamara Comolli, Autore, Brumani, Bulgari and Antonini. 12

13 JNA STYLE FILE Earrings in 18-karat white gold with paisley-shaped gemstone cabochons by Tamara Comolli 2. Tropical rings by Tamara Comolli 3. Stardust earrings by Autore 4. Necklace in 18-karat rose gold from Brumani s Corcovado Resort Collection. The necklace is embellished with brown diamonds, green sapphires, tsavorites and London blue topaz stones 5. Diva s Dream Bellezza earrings in pink gold with two round, brilliant-cut diamonds (40 points, D-F colour with a VS clarity grade), 68 buff top-cut pink tourmalines (4.03 carats) and pavé diamonds (2.79 carats, F-G colour and VVS VS clarity grade) by Bulgari 6. Gold and diamond earrings from Antonini Milano s Atolli Collection. The collection s key elements are 18-karat gold spheres, diamonds and jet or gagate Photo credit: Runway photos from Image.net by Getty Images 13

14 JNA STYLE FILE 2 1 Beautiful simplicity M arcos Luengo s Fall/Winter Collection is characterised by clean lines, impeccable tailoring and precise patterns cut from double-faced fabrics, mohair, leather, suede, wool, velvet and heavy crepe. The rich palette consists of mustard, sepia-violet and strawberry red, with embroidery and gold thread accents. Just as elegant and striking are these jewellery pieces by Bulgari, Brumani, Carrera y Carrera, Nanis Italian Jewels, Sutra and Tirisi Jewelry. 14 May 2017

15 JNA STYLE FILE Ring from Sutra Jewels Couture Collection. This ring is in 18-karat black gold set with an 8-carat Natural Sleeping Beauty turquoise, 8 carats of blue sapphires and 1 carat of diamonds ds 2. Bulgari Mediterranean a Eden earrings from the Fiore Allegro Collection 3. Earrings in 18-karat rose gold from Brumani s Botanica Collection. The earrings are set with brown diamonds, ds, facetted blue topazes and cabochon ch moonstones s 4. 3 Times A Lady Collection by Tirisi Jewelry. This set gives women three choices of hand-cut stones s that t can fit in one ring 5. Margarita mini-earrings in 18-karat gold embellished with tourmalines and diamonds ds by Carrera y Carrera. These earrings are part of the fine jeweller s El Retiro Collection 6. Dancing in the Rain earrings by Nanis Italian Jewels Photo credit: Runway photos from Image.net by Getty Images 15

16 IN LOVE WITH PLATINUM Looking ahead for platinum A shift in the market requires a shift in strategy When things get tough, it is always easy to look back into the past, reminiscing about the old days when things were better. But why are we kidding ourselves? Those days are for retirees. For those of us who are still working actively in the market, the opportunities are in the future. Changing times require a change in mentality, change in strategies and an ever keener eye to foresee the key factors that are changing our consumer market. This is only all too true for platinum today that has been facing constant challenges in China. The recent slowdown in jewellery consumption has resulted in relatively stale growth compared to the past. What s going on? Will platinum rebound back into the growth that we have once witnessed in the market? PGI is no prophet, we don t have definite answers to those questions. What I can tell you is that PGI will make changes in our directions and strategies to better prepare for the volatile and transient market. A shift in the market requires a shift in our strategy. Now, there are many ways to do the job. In the past, we have done it with celebrities or we have established new consumer segments like bridal pair rings. Past campaigns succeeded because it was executed at the right time and with just the right market conditions. Truthfully speaking, they cannot be repeated in our current market to deliver the same level of market impact it once created. To create new opportunities, we will not look back. We must look ahead, anticipate the changes in the market and prepare for what s to come. Firstly, we will be ever more consumer-ocused; understanding different consumer segments, anticipating trends in consumer behaviours, and translating different consumer needs into various product lines to improve market shares. We are now dealing with design-conscious consumers who purchase jewellery for self-wear and for enjoyment, and these consumers have different styles and reside in different regions with different preferences. The challenge ahead is to be able to clearly identify the needs among the different consumer segments with a high degree of precision. We must act fast to fill the opportunities in the current market, think a few seasons ahead, and anticipate the shifts in trends to come. Secondly, we will involve ourselves much more into product development. Our market research from the past three years have consistently shown that consumers have a strong desire to buy platinum but are not able to find a design to their liking. Whatever the reasons maybe, research and studies show there is a lack of product variety from a consumer perspective, and that s what we will attempt to address. PGI will be more involved in product development to diversify the sector s platinum offering and cover a wider range of different consumer segments with more specific designs. We hope our shift in strategy will create better business opportunities for retailers and manufacturers of platinum as we can better anticipate the shifting trends of the consumer market. JNA Information provided by Platinum Guild International (PGI ) 16 May 2017

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18 GREATER CHINA China steps up efforts to protect intellectual property rights China has a rich tradition of jewellery design dating back to the intricate and exquisite pieces of the Ming and Qing dynasties. In recent years though, the country s industry has been plagued with accusations of ripping off designs and copyright infringements. From design and branding to production and even marketing, companies on the mainland tend to look across the border to Hong Kong s leading manufacturers and retailers such as Chow Tai Fook, Chow Sang Sang and Lukfook for inspiration. Industries in their infancy often look to more advanced models for guidance and insights, with imitation as an unfortunate by-product. China s jewellery industry, however, is nearing maturity but remains replete with copied designs and counterfeit goods. Industry stakeholders are in agreement that as the world s second-largest economy, China must address this issue, police its ranks and improve the overall quality of its goods in order to keep up with international standards. Innovation is key to adapting to changing market conditions, not only when it comes to the jewellery industry but also for the overall development of the country. This comes with great risks, the greatest being failure. But as design imitation becomes even more rampant, threatening Snail pendant by Zocai the growth of successful innovative companies and harming the country s reputation, China is ramping up awareness and action on infringements of intellectual property Sunshine rights. pendant by Zocai Perils of e-commerce Online brands are often the easiest targets for copyright infringements they enjoy widespread coverage and can easily create a bestselling product, which may also be easily copied. The pressure of maintaining a brand is huge, said Wu Tao, CEO of Zocai Jewelry Co Ltd, a well-known e-commerce brand that topped Taobao Singles Day Festival s diamond sales in 2015 and Protecting its designs is a priority for Zocai, which maintains both an internal legal team and external counsel. The company has won more than a hundred counterfeit lawsuits in three years, believed to be the most number of wins for a jewellery company so far. Wu Tao, CEO of Zocai Jewelry Co Ltd 18

19 GREATER CHINA Awareness of intellectual property rights is growing in the business world where giant retail chains are engaging in multiple ways of protecting Love at First Sight ring their products, including by Zocai signing agreements with manufacturers on exclusive and original designs. The proliferation of individual online sellers has, however, made waging a battle against imitation goods more challenging. China s e-commerce infrastructure has become a hotbed of individual WeChat and Taobao users selling fake goods. WeChat Moments is one popular channel where individuals can easily promote their products to their social circles. Many merchants have used this channel to promote their counterfeit products. Awareness gap The Shenzhen jewellery industry is not yet fully conversant with intellectual property rights. Several companies are not aware of the importance of patents and other protective measures that could help them safeguard their creativity and give them a legal recourse in case of infringement. Aside from patents, intellectual property rights can also be protected through copyright registration and time-stamping, which are cheaper and less time-consuming to secure. Shenzhen Matis Jewelry Co Ltd has been obtaining copyright registration for its products since In 2015, the company won a counterfeit lawsuit. TTF, a leading jeweller in Shenzhen, filed the first counterfeit lawsuit in the jewellery industry, a significant milestone in China s battle against the copying of designs. The company recently chalked another first by suing Brazil s Olympic Committee for medal box design infringement. The case is currently being processed by the Municipal Intermediate People s Court in Shenzhen. TTF s international lawsuit was made possible with the support of the People s Government of Luohu District, which is actively combating the copying of designs and spearheading the movement to protect intellectual property rights. The lawsuit has also strengthened the credibility and raised the profile of Luohu s jewellery industry in the global market. local government of China s most important jewellery industry base believes that financial support is the most direct and effective way to assist the industry in this matter. Since April 2017, the ceiling of compensations for counterfeit lawsuit winners has been increased from RMB 500,000 (around $72,511) to RMB 1 million (around $144,988). This is expected to encourage companies to obtain patents, designers to exhibit in fairs and participate in design competitions, and investors to establish design institutes. To further support innovation and individual designers, the People s Government of Luohu District is also planning to set up a public platform for designers, which will include assistance from intellectual property rights service agencies. The proliferation of counterfeit goods and copied designs in China indicates that the country is lagging behind other international markets on awareness of intellectual property rights. The battle against such infringements is hampered by outdated legislation, lax enforcement and the lack of punishment. Hope is in the air though as intellectual property protection is cast into the spotlight this year. The fact that Jack Ma of Alibaba s remarks on zero-tolerance on imitation goods have been widely circulated indicates as much. JNA Admirer pendant by Zocai Local government support The People s Government of Luohu District has arguably shown the greatest commitment towards eradicating violations of intellectual property rights. The Moon Above the Sea jewellery set by Matis 19

20 GREATER CHINA China s retail landscape undergoes fundamental change Brighter forecast for China s retail and consumer products sector following the major challenges in 2015 E-commerce influences retail growth Online shopping opportunities and shifts in consumer preferences are drastically changing the retail landscape of mainland China, according to industry reports. Almost one in five Chinese consumers shops online daily, noted one market study. The tremendous success of the online Singles Day Festival in recent years reflects the important role that Chinese online shoppers play in the online retail ecosystem. Although more than half of those polled cited pricing as the key factor influencing their final purchases, consumers are increasingly taking into consideration brand authenticity and unique experiences. PcW released last year two studies: The disruptive face of the retail and consumer products sector in China and Hong Kong and the Global Total Retail Survey The reports identified slowing economic growth, the rise of millennial shoppers, and the growing online ecosystem as the three main factors that are shaping China s retail and consumer products sector. Michael Cheng, PwC s Asia Pacific and Hong Kong/ China retail and consumer leader, said, The cyclical slowdown of the Chinese economy, coupled with a critical structural transition towards greater consumption, is causing consumers to re-evaluate their purchasing habits. Millennials, who comprise about 30 percent of China s population, have emerged as a key force, and they shift demand to new products that promote experiences and healthy lifestyles. Moreover, online sales are growing and a robust online presence is essential as consumers research and interact with brands. The rapidly shifting sectoral landscape is resulting in deeper coopetition as companies seek to turn disruption into opportunities. Collaboration between business competitors to achieve a win-win solution will be a key trend in the region to leverage new synergies and win businesses. New market entrants are challenging established business models, and strategic relationships will need to change in order to keep up with shifting consumer purchasing behaviour. 20

21 GREATER CHINA Digital technology According to a recent report by professional consultancy Deloitte & Touche, technology is impacting the face of the global retail sector. Digital technology serves as the connecting thread influencing and changing how products are sold to consumers. Retailers are establishing and using online platforms to interact with their consumers, who research purchases and brands online. Customers are increasingly relying on social media, which plays a vital role in influencing final purchases. A retailer's online presence is no longer limited to selling or marketing, but also for creating trust, which is extremely important for luxury product consumers. Staff has long been regarded as a fungible asset in retail. Today, retail frontliners are increasingly valued due to the changing nature of stores. Three of five reasons given by consumers polled on their choice of retailer pertain to store employees better aftersales service (31 percent), helpful store personnel (29 percent) and personalised service (28 percent). Retailers should thus have a thorough understanding of the market when formulating effective training programmes for their sales associates. Millennial shoppers are changing China s retail landscape A retail business model harnessing both online platforms and physical stores will continue to gain momentum Retail outlook PwC forecasts a compounded annual growth rate of 7.5 percent in China s and 2.1 percent in Hong Kong s retail and consumer products sector by value from 2016 to China is expected to continue its momentum in 2017, posting growth of approximately 9 percent and then gradually decelerating to roughly 7 percent growth over the rest of the forecast period. Meanwhile, Hong Kong s total retail sales, which fell in 2015 and 2016, are expected to rebound with a smaller decrease of 1.5 percent in 2017, followed by positive growth of 2 percent in 2018 and 4.6 percent in 2019 before gradually returning to its 2013 peak in The skies are clearing after China s retail and consumer products sector went through a series of violent storms in The rebound will be led by key cyclical and structural factors such as an improving economy and focus on personal consumption. The expanding middle class with increased purchasing power is also contributing to the growth of the market. However, growth is forecast to gradually slow as the domestic economy and retail sector matures over time, said Cheng. JNA 21

22 JCK SPECIAL 2017 Glittering showcase Scheduled for June 5 to 8 at Mandalay Bay Resort & Casino, JCK Las Vegas 2017 is bringing together some of the best and brightest names in the jewellery and gemstone industry under one roof. The four-day show, North America s largest fair of its kind, is turning the spotlight on the latest collections of more than 2,300 vendors from around the world, according to the trade organiser. In this issue, JNA takes a look at some of the impressive jewellery creations that are going to be launched at the show. Trendy Chic Ana Locking / Image.net by Getty Images ALTR Created Diamonds 16W 46th Street, 12/F, New York, USA q: 1 (1646) E Categories: Labgrown, CVD and HPHT diamond jewellery; finished jewellery and loose lab-grown stones JCK Las Vegas Show Booth No. B58063 Bridal Pavilion Color Jewels Unit 501, 5/F, Harbour Centre Tower 2, 8 Hok Cheung Street, Hung Hom, Kowloon, Hong Kong q: E colorjewels.net Category: Fine jewellery JCK Las Vegas Show Booth No. B37179 Bay Side 22

23 JCK SPECIAL 2017 Elegance & Grace DewCarat Ltd Unit 203, 2/F, Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong q: E dewcarat.com Categories: Fine jewellery, diamond jewellery, and jewellery set with precious and semiprecious stones JCK Las Vegas Show Booth No. B46116 Ulises Mérida / Image.net by Getty Images KGK Jewellery Mfg Ltd 18/F, Peninsula Square, No. 18 Sung On Street, Hung Hom, Kowloon, Hong Kong q: E kgkmail.com Category: Fine jewellery JCK Las Vegas Show Booth No. S

24 JEWELLERY HK jeweller focuses on attainable luxury category Tanzanite ring with diamond accents by DewCarat Hong Kong-based DewCarat Ltd is expanding its range of fine coloured gemstone jewellery collections to meet growing market demand. In an interview with JNA, DewCarat Vice President Tiffany Tse talks about the company s business outlook and strategy for the year, their product offerings at JCK Las Vegas, and the jeweller s long-term competitive position. JNA: How was 2016 for DewCarat? Did the company perform relatively well in spite of the challenging business environment? Tiffany Tse: Despite the dynamic changes occurring across the globe, thanks to our diversified client base, 2016 was a stable year for us. JNA: What are your priorities for 2017? What do you hope to accomplish this year? Tse: With the current global economic landscape ever changing, we hope to maintain a steady revenue stream throughout the year. While nurturing our existing, popular collections, we Emerald and diamond bracelet by DewCarat will experiment with a few out-ofthe-box concepts involving fine jewellery and the world of precious gems and colours. JNA: What are the collections that you will be presenting at JCK this year? In terms of the materials used, what are the gemstones that you will be highlighting in your latest collections? Tse: As expected, we will be focusing on colours. As our lines evolve, we ve made a conscious decision to upgrade the quality of colour gems we use in our pieces. As we improve our in-house gem selection standards, we are producing higher-end products. This year, we ve put a bit of emphasis on larger caratsize tanzanites, emeralds and other gems. We are creating attainable high-luxury pieces pieces that traditionally would not be accessible under a five-figure price point. JNA: Are US buyers much more price-conscious now? If yes, how did you manage to strike a balance between producing quality goods, which is a hallmark of DewCarat, and affordable pricing? Tse: As we are a B2B company, our clients are always price-conscious. Businesses in general, regardless of their geographical location, are extremely diligent with pricing. Their margins depend directly on how competitively they source their product. From an in-house GIA Graduate Gemologist sourcing our gems, to a privately owned and operated manufacturing base, we re capable of delivering unique products at competitive rates by eliminating several middle men in the production process. JNA: How big is your business in the US in terms of revenue share? How about the Asian market? Tse: A substantial portion of our revenue share is derived in the US. However, it s important to note that much of that share comes from south of the border. Latin American countries play a crucial role in our US business. Currently, we have not focused on the Asian market yet. While we have existing clients in Asia, they make up a negligible portion of our revenue share. JNA: What are some of the lessons that you ve learned in this business following a tough ? How did DewCarat weather the storm? Tse: A great lesson to learn is that the world is a constantly evolving arena. Due to the tumultuous US presidential election in 2016, the world of business, and the world of luxury goods specifically, experienced an equally tumultuous year. Our company has always utilised a global strategy to diversify our client bases and risks associated with different regions in the world. JNA 24

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29 JEWELLERY Turkey shines in jewellery design and manufacturing By Marie Feliciano Designer Nilgun Kadioglu provides free jewellery design and manufacturing courses to orphans in Turkey Turkey s leadership in jewellery design and production is further gaining momentum, thanks to its diverse and wide talent pool, strong manufacturing sector, and innovative sales and marketing strategies. We are a recognised global leader in gold jewellery design and manufacturing, said Sirzat Akbulak, a manager at the Jewellery Exporters Association (JTR) of Turkey. However, our strengths have gone beyond plain gold jewellery production. Today, our Award-winning designer designers and manufacturers have expanded Alan Alpay; Alan Alpay s their repertoire to include diamond, coloured Interstellar ring captures the gold at JTR s 2017 gemstone and pearl jewellery all anchored in Jewelry Design Contest our rich jewellery culture. Akbulak noted that Turkey s heritage of craftsmanship gives it an edge in the jewellery sector. And of course, we are very competitive in terms of price positioning. We give buyers value for their money, he added. We are extremely flexible since we are willing to adjust our designs to suit our customers preferences. If it means altering our collections or creating an exclusive line for our clients, we can do that easily. Independent designers JTR has also taken on a vital role in nurturing Turkey s design talents. At the 44 th edition of the Istanbul Jewelry Show (IJS) in March, the association presented the exceptional designs of the country s up-and-coming jewellery artists. One of these promising designers is Alan Alpay, winner of JTR s 2017 Jewelry Design Contest. Alpay won the judging panel s nod with his Interstellar ring, a voluminous gold ring inspired by cosmic wormholes using the warp technique. I am fascinated by the idea of interstellar travel and gateways connecting far-flung corners of the 29

30 JEWELLERY universe, the designer said. From there, I visualised a ring consisting of gold tunnels linking star systems. To create the ring, Alpay used a CAD program to produce a design prototype. The ring, which is in plain gold, may be produced in versions studded with diamonds and coloured gemstones. The possibilities are endless, he said. You may give the metal a matte finish or have the rings in two-tone or three-tone gold. Another promising designer is Elif Kilic, a US-trained gemmologist who produces capsule collections of necklaces, pendants and rings inspired by Turkish teachings Meltem Sahan impresses and philosophy. Each with her opulent ring design piece consists of handcarved gemstones or precious wood such as ebony and rosewood, and embellished with 18-karat or 24-karat gold studs and wires. My family has been in the jewellery business for nearly 25 years, Kilic said. After receiving my training in the US, I came back to Turkey to set up our company s production department and launched our customised jewellery business. Designer Buket Teryakio Nilgun Kadioglu, another independent jeweller, launched her career 13 years ago. The designer is famous for her bold, dramatic necklaces, brooches, bangles and rings made of blackened silver, abalone shells, diamonds and coloured gemstones such Sirzat Akbulak of JTR as alexandrites and rubies. Kadioglu often draws inspiration from Turkey s traditional design motifs and nature for her capsule collections. My creations are one-of-a-kind, she said. Once I sell them, that s it. I don t replicate my designs. Kadioglu is also recognised for her social advocacy. Ten years ago, the Designer Meltem Sahan designer opened an atelier, which was specifically established to provide free design and jewellery-making courses to orphans between the ages of nine and 14. I have trained hundreds of children, and I love the thought of providing them with skills that they d hopefully find useful later in life. They represent our country s future, and I am more than happy to contribute my time, energy and skills for them to discover their potential and awaken their interest in the arts. Meltem Sahan is also steadily making a name for herself in Turkey. The designer recently won accolades for her Mitakuye Oyasin ring, a thumb ring resembling an infinity symbol and set with diamonds and coloured gemstones. An interesting element to Elif Kilic, right, produces capsule collections of handcrafted jewellery; and one of Elif Kilic s hand-carved pendants. This pendant, carved from ebony, is embellished with gold wires and studs 30

31 JEWELLERY her design are purple and black feathers that touch the back of one s hands. The piece, which drew inspiration from the Native American Lakota Sioux universe, represents the profound connection among all living things. We are all connected Bayramoglu is like the rays of the sun, like the recognised for its waves of the ocean and like the leadership in gold fruits of the same tree, Sahan said. bangle design and Another exceptional piece manufacturing is Sahan s collar necklace with detachable pendants. The design, which won the jury prize at a local competition, brings to mind colourful peacock feathers decorated with sapphires, tanzanites and emeralds. Right now, I am focusing on building my own brand and hopefully, breaking into the international market, Sahan said. That s the dream. Akbulak of JTR underscored the importance of designers in Turkey s jewellery sector. We ve introduced the Designers Market at IJS because we want to provide independent jewellers and young talents the platform that they need to reach buyers and manufacturers. We need to promote and support them, he said. The Designers Market consists of two sections one for established designer brands and another for students or fresh graduates eyeing a career in the jewellery sector. Established manufacturers Rusen Simon Kostanoglu of Baget-Is made waves at IJS with his Ottoman-inspired gold dagger and scabbard set with ruby cabochons and rose-cut diamonds. The set is valued at $200,000. This is handmade, Kostanoglu said. It took us several months to finish this set. In addition to producing precious novelties and objets d art, Baget-Is also manufactures diamond jewellery in traditional and contemporary designs. The jewellery landscape has changed, the company owner said. To grow and remain competitive, you have to expand your product offering and keep your price points attractive without compromising on quality. Mehmet Emin Alkan, owner of gold bangle manufacturer Bayramoglu, said he has successfully carved a niche in the lightweight gold bangle product category. The manufacturer has thousands of bangle designs in its portfolio, including pieces, which he said are unique only to Bayramoglu. I have developed tools to create elegant diamond-like detailings on my bangles, Alkan said. We also have bangles with contrasting textures and beautiful finishes. The pieces look voluminous but are actually very light and comfortable to wear. The edges are polished expertly, so they will not leave any marks and scratches on whoever is wearing the bangle. The bangle maker also takes pride in his ability to meet customers specific requirements. Rusen Simon Kostanoglu of Baget-Is is holding an Ottomaninspired gold dagger and scabbard set with rubies and diamonds, which is valued at $200,000; Baget-Is gold dagger has a watch hidden inside the heel of the handle Mehmet Amin Alkan of gold bangle manufacturer Bayramoglu If they want the bangles to be narrower or broader or if they want bangles that cost $1,000 or $5,000 at wholesale, we can produce those for them, Alkan said. We may not be the biggest manufacturer but I have to say we are one of the best in the world, and I ve made that possible by investing in the best people and the latest technology, and by consistently producing quality products. JNA For more updates on Turkey s jewellery manufacturing industry, log on to jewellerynewsasia.com 31

32 JEWELLERY: HONG KONG Innovation, quality service fuel HK jeweller s success By Bernardette Sto. Domingo Staying ahead of the competition has always been at the core of Hong Kong-based BK Jewellery s operations. According to company CEO Rocky Wong, the jewellery manufacturer places a premium on constant innovation and top-quality customer service to maintain its strong position in the global jewellery industry. In this interview, Wong shares his vision and long-term plans for BK Jewellery. Competitive edge Backed by almost three decades of experience in the jewellery manufacturing sector, BK Diamond pendants Jewellery mainly produces bridal jewellery in from the Lady Dream 18-karat gold adorned with diamonds and Collection. All coloured gemstones such as sapphires, rubies jewellery products by and emeralds. BK Jewellery Its major markets are the US, Canada, Australia, China, Hong Kong, the Middle East and Europe. The company, which operates a manufacturing facility in China with around 150 employees, produces around 6,000 pieces of jewellery a month, said Wong. We used to have a monthly production of about 15,000 pieces but we are now manufacturing bigger items; and by bigger, I mean in terms of value. Our wholesale prices have gone up to $500 to $2,000, from $200 to $500 in the past, the company official noted. Wong revealed that he gives more weight to developing oneof-a-kind design techniques to excel in the business, adding that character differentiates one company from another. Customers are saying that most companies sell the same products during trade shows. So since everyone is producing the same thing, buyers will ask, why would I choose your company? The competition then becomes price-driven, which is not healthy for the industry, he stated. Every company should have a unique character or special merchandise that will set it apart from the competition. Wong also raised the importance of Diamond rings from the obtaining patents for designs or production Lady Dream Collection techniques that are developed by the company. 32

33 JEWELLERY: HONG KONG BK Jewellery had earlier invented an illusion setting that features a diamond surrounded by smaller, special-cut diamonds to make the centre stone appear bigger. The company obtained a worldwide patent for this particular technique, revealed Wong. In 2012, however, BK Jewellery found itself embroiled in a court battle with a major diamond jewellery manufacturer that the Hong Kong firm accused of patent infringement. The case was settled early this year, Wong further disclosed. We accepted their settlement offer after six years. It was a long fight and both of us spent huge amounts of money, he noted. I think this case sends a crucial message regarding the significance of patents in the jewellery manufacturing industry. Collections Clients buying patterns have changed over the years, noted Wong, citing transactions at the March Hong Kong Fair. Buyers now mostly prefer purchasing items from a collection, with a maximum of 30 to 40 pieces, as opposed to bulk buying from inventories. Consumers have also become extremely cautious and would constantly look for products that they are certain they can sell, stated Wong. Another trend that he observed is that buyers are now leaning towards more fashionable pieces. They want modern designs instead of the usual round diamond jewellery. They want to try something different so fancy cut and fancy colour diamonds are starting to become more attractive, he noted. BK Jewellery s patented illusion setting technique takes centre stage in the company s Lady Dream Collection. Women will always want diamond jewellery but not all are willing to spend huge amounts of money for it. We want to fulfill this dream by providing affordable luxury to consumers, Wong added. Citing current retail prices, the company official said a buyer will most likely spend $10,000 for a 1-carat diamond ring. A Lady Dream ring adorned Diamond rings featuring BK Jewellery s special illusion setting Classic wedding rings and mountings with diamonds that appear like a 1-carat stone, meanwhile, costs around $800 to $900, added Wong. BK Jewellery likewise developed another patented technique, which is showcased in the Love Infinity Collection. Using CNC machines, the jeweller creates facets on the precious metal surrounding a single diamond. The facets are made to replicate the brilliance of diamonds. From afar, the facetted white gold looks like diamonds, making the centre gem look larger. Pieces from this collection come at reasonable prices as well, he said. Business prospects Wong cited a more favourable business environment in 2017, mainly due to improved buyer confidence. He said BK Jewellery entertained new clients from non-traditional markets such as North America and Southeast Asia during the March Hong Kong Fair. Everything boils down to the economy and the US market, in particular. If new US economic policies prove beneficial, this will have a ripple effect on the global economy. Once we see substantial improvements in the US economy, other major economies such as the UK and China would follow suit, said Wong. BK Jewellery is planning to further fortify its e-commerce operations within the year and offer an offline-to-online business strategy with a focus on independent stores. Everyone is used to buying online now. Our goal is to make the buying process easier for and more accessible to consumers. We will spend more time on product development and continue to upgrade our facilities to serve our clients better, noted Wong. JNA 33

34 CONVERSATIONS Fine jeweller gears up for international expansion By Olivia Quiniquini 2 Saboo Fine Jewels prides itself on its high jewellery creations, top-quality coloured gemstones and special-cut diamonds. In the jewellery department, the Hong Kong-based manufacturer has made a name for itself for its one-of-a-kind statement pieces inspired by nature and architecture. The company supplies high-end retailers with its bejewelled masterpieces and is establishing the Saboo Fine Jewels brand through shop-in-shops in the Middle East, Russia and the US. Company president and creative director Surendra Saboo shares with JNA his plans for international expansion. JNA: How is 2017 shaping up for Saboo Fine Jewels? Surendra Saboo: The year has been excellent so far. We are experiencing robust demand for our jewellery pieces from the high-end markets of most countries but specifically the US and the Gulf region. This year, we expect growth to come from the US as well as some parts of Europe and the Arabian Gulf. JNA: What strategies are you implementing to grow the business this year? Saboo: We intend to tap the UK market and some parts of the US through trade fairs, private exhibitions and trunk shows. New innovative techniques and designs, better and more detailed designs, and an increase in our international exposure through trade shows and events will all help us build a stronger customer base. JNA: What sets Saboo Fine Jewels apart in the jewellery world? Saboo: We create unique jewellery pieces by carving special cuts and employing different manufacturing techniques. People often define a fine jewellery piece as one with an exorbitant price tag or big-sized stones these are of course powerful presentations. But for us at Saboo Fine Jewels, we define this as a conversation piece, one that people talk about due to its beauty, its composition, its materials. Each of our designs is manufactured using a 1 34

35 CONVERSATIONS unique technique with finely cut high-quality stones that are beautifully sculptured in various precious metals. Our jewellery is also extremely comfortable to wear. JNA: Given current economic conditions, how do you balance value and aesthetics in a jewellery piece? Saboo: In today s world where Sotheby s can sell a 59.6-carat pink diamond at $71.2 million, I don t think that value has become that much of a concern among those who seek the very best. There was a time when people used to buy diamonds of 1 to 20 carats as a sign of power and wealth. Nowadays, people who already have power and wealth are looking for exceptional jewellery pieces that can create a buzz and are a story in themselves. I am extremely happy and gratified to be able to provide them with just that. JNA: How involved are you in the creative process for your fine jewellery pieces? Saboo: I am fully involved not only in the creative process but also in the procurement of coloured gemstones from different parts of the world, the evolution and constant innovation in our manufacturing techniques, and the visuals, designs and merchandising of our retail jewellery brand. Most of the stones used in our pieces are manufactured in-house and we experiment a lot with cuts and shapes. We sometimes also procure stones from other sources for variations we would like to include in our jewellery. JNA: Please tell us about your new collections. Saboo: This year, we are unveiling five new collections. The first of which was unveiled to great acclaim at Baselworld. The other four will be presented at Couture Las Vegas. JNA: Has the economic slowdown of recent years affected business? What are your clients asking for now? Saboo: Since we cater to that high-end market which is relatively stable, the sluggish economic conditions have not really made a dent in our business. Our customers are still looking forward 1. Emerald and diamond ring by Saboo Fine Jewels 2. Emerald earrings with diamonds and pearl tassels by Saboo Fine Jewels 3. From right: Saboo Fine Jewels president and creative director Surendra Saboo with company directors Pranay and Krishna Saboo 4. Emerald and diamond earrings by Saboo Fine Jewels 5. Emerald and diamond ring by Saboo Fine Jewels 6. Ring by Saboo Fine Jewels 7. Pair of earrings by Saboo Fine Jewels 4 to our new jewellery ranges. But we have expanded our offerings to tap new customers that are seeking more affordable jewellery pieces. As our customer base keeps growing, demand has increased for everyday wearable jewellery. So this year, we are creating a few concepts that are still exclusive but come with much smaller price tags than our usual offerings. JNA: What are you looking forward to in the coming months? Saboo: We will be quite busy with the launch of our new product ranges, our participation in Couture and a couple of private exhibitions in the US, Europe and the Gulf region. JNA: What is your ultimate vision for Saboo Fine Jewels? Saboo: I would like to see Saboo Fine Jewels become a powerful emerging brand that is among the most soughtafter in the whole wide world. JNA 35

36 DESIGN Pinky Szeto: Lady in pink By Bernardette Sto. Domingo There is no denying that jewellery designer Pinky Szeto is in love with colours. A quick glance at her collections during a trade show in Hong Kong brings to mind pastel-coloured flowers in a garden of golds and greens, or a kaleidoscope of colourful fish swimming in the earth s bluest oceans. Szeto sits down with JNA to talk about her well-loved collections as well as the latest projects of the Hong Kong International Jewellery Designers Association (HKIJDA), which she heads. JNA: Could you tell us more about your background as a jewellery designer? Pinky Szeto: I ve been designing jewellery for about 20 years now. I think my passion for jewellery design was inspired by my mother who was a jeweller as well. I grew up in the jewellery industry, so to speak. I established Starlite Jewellery Company in 2007, along with my brand, Slite. As a designer, I m drawn to colours so you ll find an abundance of coloured gemstones in my collections. I love combining them together. At the moment, I m focused on designing modern, multipurpose jewellery in whimsical designs, which bring joy to the wearer. What makes my collections exceptional, apart from the design, is superior craftsmanship but the pieces also come at reasonable prices. I know that buyers now exercise restraint in their purchases due to economic challenges so that s why I m adjusting too. JNA: How would you describe your design philosophy? Szeto: I come out with new collections every season. I would normally design nature-inspired pieces bursting with colours. This time, I created a few pieces while still colourful with distinctive features such as a ring with a secret compartment where you ll find more gemstones. Using modern technology, this is a concept that I ve recently introduced to my buyers and I love seeing the reaction it elicits from them. The response is quite positive. This collection showcases mechanical features, which inject more character into the pieces. 36

37 DESIGN JNA: What are your most favoured coloured gemstones? Szeto: Emeralds, rubies, blue and fancy sapphires and blue topaz but I m also partial to pink topaz and pink tourmaline. I also use tsavorites and turquoise stones. Do you know that I cut some of the stones myself? I design the jewellery and cut the stones so there are pieces from my collections that are incredibly personal because I m deeply involved in the production process. My design philosophy has always been to be different; I want to make jewellery that nobody else has, which makes the pieces all the more valuable and desirable. I do fine jewellery but I also offer a more affordable line. For me, it s the design that defines the jewellery piece at the end of the day. My fine jewellery collections are quite exceptional because they are one of a kind and only displayed in my office. Only one buyer owns a particular bespoke piece; I never replicate it. I have a diverse product portfolio so I can sell to anyone in the market. It s important to provide clients with a wide range of products. JNA: What will be the most popular coloured gemstones this year? Szeto: Those would have to be green gemstones so we will most likely see a great deal of jewellery pieces adorned with peridots, tsavorites and emeralds. JNA: What are your top markets? Szeto: Europeans, some from the US and a few Asians. I have a strong customer base in China and Hong Kong for my fine jewellery line because they are more into tailor-made pieces. There are also buyers from Russia and Spain. JNA: What do you have in store for HKIJDA members this year? Szeto: The association s aim is to provide support and assistance to upcoming jewellery designers to help them break into the industry and strengthen their network. Formed in 2007, the association mainly offers a platform for Hong Kong jewellery designers and small- to medium-sized enterprises to share experiences and information, and promote their original design concepts globally. It likewise provides education, legal advice, industry updates and employment information to budding jewellery designers. This year, we are planning to hold seminars and trainings, and maybe collaborate with another association for a project. It s going to be an exciting year for us. But the focus this year will be on education. I think there is a tremendous need to educate both industry players and buyers, and help newcomers know more about doing business and how to get into this field. There are many aspiring jewellers at the moment. We have more than 150 members to date. I think it is important to have such an association because it provides them training in jewellery design, and insights into how the industry works. We offer them guidance on what buyers are looking for and how to market their creations more effectively. JNA 1. Coloured gemstone ring featuring Pinky Szeto s latest secret compartment design 2. Pinky Szeto at a jewellery show in Hong Kong 3. Coloured gemstone butterfly brooch 4. Butterfly brooch and pendant adorned with diamonds and coloured gemstones 5. Secret compartment ring with a freshwater pearl centre gem adorned with tourmalines, tsavorites and fancy coloured sapphires 6. Ring adorned with coloured gemstones 7. Earrings with amethyst centre stones and coloured gemstone accents All jewellery pieces by Pinky Szeto 37

38 TECHNOLOGY Jewellery equipment firm offers latest products Established in 1990, Jiangsu Skyray Instrument Co Ltd of China has built a solid reputation in the development, manufacture and sales of analytical and testing instruments such as XRF precious metal analysers among other high-tech devices. With a registered capital of RMB million (around $22.36 million), the company said it stands as one of the biggest laboratory equipment suppliers in China. Skyray is headquartered in the Jiangsu Province and has two subsidiaries in Beijing and Shenzhen. Irene Ai, overseas sales manager of Jiangsu Skyray Instrument Co Ltd, talks to JNA about the company s latest initiatives and product offerings. JNA: What are your core products and services especially related to the jewellery industry? Irene Ai: We offer a wide selection of products intended for various industries including jewellery, electronics, toys, food, construction, metallurgy, minerals, plastic, petroleum, chemistry, medicine and environmental protection. Among our main products for jewellery manufacturers are the XRF (x-ray fluorescence spectrometer), AAS (atomic absorption Jiangsu Skyray Instrument Co Ltd s manufacturing facility in China Cube 100 portable precious metal tester. All jewellery equipment photos from Jiangsu Skyray Instrument Co Ltd spectrometer) and ICP (inductively coupled plasma emission spectrometer). JNA: What are your major markets? What is your business strategy in 2017? Ai: Over the years, we have built EDX 3000 Plus a sturdy foothold in major global XRF precious markets including China and India, and metals analyser emerging Southeast Asian destinations such as Vietnam and Thailand. We would like to further strengthen our businesses in these markets by looking for local equipment dealers both for sales and after-sales service. JNA: Please share with us your latest projects and initiatives. Will you offer new products and services? Ai: We are offering our new XRF precious metal analyser the EDX 3000 Plus, which is ideal for content testing of gold, silver, platinum, palladium and other metals. It is equipped with a 25mm beryllium window detector. The testing results fully conform to the international GB/T requirements. Gold relies on weight and instruments rely on precision. This device also has a highdefinition camera for taking clear product images. JNA: Could you share with us your company s other achievements? Ai: Our company takes pride in various achievements in modern technology, software enterprise and technical innovation. Our XRF spectrometers are recognised as National Key New Product and Jiangsu Provincial High-Tech Product. With a wide coverage of application in various fields, we provide professional solutions to various industries. Skyray Instrument, as an industry technology leader, is constantly exploring opportunities in the analytical field and providing customers with more advanced products, and highly satisfactory service. JNA 38

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40 TECHNOLOGY Gold jewellery device from Italy Italy-based Lorenzato Srl is presenting a broad range of innovative machines for the gold jewellery industry. Headlining its product portfolio is the P316 tube-making machine, which allows the production of various profiles of soldered tubes, the company said. The machine is user-friendly, Lorenzato noted. The plate strip is fed into the machine and as it passes through 10 tempered, rectified and nickel-treated rollers, the tube takes its final shape. Two edges of plate are then soldered together by a TIG (tungsten inert gas) soldering unit, added the manufacturer. According to the company, a digital speed control and micrometrical height roller adjustment further make this particular model one of a kind. Founded in 1960, Lorenzato specialises in the production of gold jewellery tools and equipment. Headquartered in Vicenza, Italy, the company said it places a premium on continuous research P316 tube-making machine and innovation to develop modern manufacturing machines for the jewellery industry. JNA Diamond milling machine Sisma Spa of Italy is highlighting an all-inone machine designed to perform various operations including diamond milling, cutting and laser processing. According to the company, the Twin-E CNC (computerised numerical control) milling version combines Sisma micro-mechanics and laser technology. Sisma said it is also offering the patented laserwelding version of LM-DV a highprecision machine that is easy to use and maintain, and provides remote assistance functions. The company said it is also involved in additive Twin-E machine manufacturing. This innovative by Sisma Spa process avoids extended and laborious phases like investment casting and directly creates a finished prototype using high-tech machinery, according to Sisma. Established in 1961, Sisma is a family-owned company specialising in laser sources and systems for welding, marking, 3D-cutting and chain machinery. The company is active in the jewellery, dental, fashion and education industries. JNA Plating solutions from Thai company SPC Precious Metal Co Ltd of Thailand is offering its rhodium-plating solution, which is ideal for precious metal products, particularly gold. According to the company, the SPC Rhodium Solution can also be used on items made of silver, copper, nickel alloy and other alloys such as tin, zinc, lead, aluminium, cadmium and iron. This is a plating solution that gives products a special white rhodium-coated surface, the company noted. The product, which is easy to use and refill, keeps the plated surface smooth for a long time, SPC Precious Metal said. The solution is safe and free of sulfuric acid, it added. Established in 2002, SPC Precious Metal manufactures and distributes jewellery tools and equipment as well as gold bullion, silver beads and other chemicals. The company provides precious metal raw materials such as percent gold bar and silver granule; casting and refining machines; precious metal plating solutions; and a refining service. SPC Precious Metal also has a laboratory where it analyses the purity of various metals such as gold, silver, palladium and platinum. JNA 40 May 2017

41 TECHNOLOGY XRF gold-testing machine A broad range of X-ray fluorescence (XRF) spectrometers and other high-tech testing equipment specifically for the gold industry is available from Chinese manufacturer Shenzhen Cfantek Co Ltd. Top-billing its product offerings is a series of high-precision XRF gold-testing machines such as the EXF According to the company, EXF 9600 is capable of detecting all metals. Due to its high-resolution detection capability, it is able to identify any metal in its lowest parts EXF 9600 per million (PPM) concentration, added Shenzhen Cfantek. With built-in PC and touchscreen interface, it helps save space and resolve cabling issues. It has an aesthetic design and is easy to store or set up, noted the company. It s an integrated industrial computer, which is easy to operate. Users are able to print detailed reports in multiple formats. Results can be immediately obtained. Shenzhen Cfantek has an ISO9001:2008 certification on international quality management system. The company said it continues to conduct research in the field of non-lethal precious metal testing in its research and development facility in China. JNA Precious metal analyser Spectrometer Technologies of Africa is shining the spotlight on a precious metal analyser, which the company described as a nondestructive solution for gold analysis. The Thermo Scientific Niton DXL Precious Metal Analyzer quickly distinguishes between gold plating and solid gold, and determines the accurate karat weight of gold jewellery, the company said. Designed specifically for countertop use in a retail setting, Niton DXL equipped with thermo-scientific audit gold-plating detection technology delivers fast and reliable results for gold testing and metal analysis with the push of a button, Spectrometer Technologies said. The device is safe and easy to use since it contains no harsh chemicals or acids that can burn fingers, ruin clothing and damage countertops, according to the company. It easily measures precious metal content without manually changing the calibration, it added. Niton DXL can precisely determine the presence and concentration of other trace alloying elements and dangerous heavy elements, which could impact valuation and future refining needs. It also has a builtin camera, which makes precise sample positioning effortless, noted Spectrometer Technologies. The company also offers the Thermo Scientific Niton XL2 XRF Precious Metal Analyzer, which uses fast, accurate and non-destructive methods to test the purity and chemistry of precious metals. JNA Jewellery balances from Mettler-Toledo Mettler-Toledo, a major manufacturer of highprecision gold and carat scales and analytical instruments, offers the JE (Jewelry Entry) line. Gold and carat scales from the JE line incorporate the company s high-performance weighing technology to provide accurate and reliable weighing results, according to the company. The robust weighing cell offers fast settling and response times, enabling gold and gemstones to be weighed quickly and efficiently, it added. With an attractive price/performance ratio, jewellers are able to operate their businesses with the confidence that revenues, as well as their reputation, are protected, noted the company.the JE balances feature quality engineering with an ergonomic design for efficient day-to-day operations, Mettler-Toledo said, adding that individual weighing functions such as piece counting and check weighing are accessed with the use of one button. The high-contrast LCD display, meanwhile, uses large bright figures to ensure that weights can be read clearly and easily from a distance or in poor lighting conditions, the company stated. Founded in 1945, the company said its goal is to maintain its strong position in the market. Over the years, it has made a name for itself in the manufacturing and distribution of precision instruments for use in various industries. It also develops equipment and tools with laboratory, industrial and food retailing applications. JNA May

42 TRADE FAIRS Positive mood reigns at Istanbul Jewelry Show Organiser reports 95 percent increase in overseas buyer turnout 1 By Marie Feliciano The mood at the 44th edition of the Istanbul International Jewelry, Watch & Equipment Fair (Istanbul Jewelry Show-March edition) was upbeat, with exhibitors commenting that they had met with quality buyers since the show opened on March 16. Scheduled for March 16 to 19 at the CNR Expo (Istanbul Fair Center), the four-day show featured several attractions, from contemporary diamond and coloured gemstone jewellery collections to one-of-a-kind couture pieces. We saw buyers who showed a lot of interest in our diamond and coloured gemstone jewellery collections, said Ayberk Cakan of Tekvin Pirlanta. This has been a very good show for us. 3 2 People have come to buy, added an executive with Sener Kuyumculuk. Organised by UBM Rotaforte, IJS-March is one of the mustattend events on the jewellery trade show calendar. The March 2017 edition hosted 27,587 buyers from 111 countries, recording a 95 percent increase in terms of overseas unique visitor turnout and a 15 percent growth in the number of local attendees. Overall, the fair saw a 32 percent growth in visitor numbers compared with the March 2016 edition, the show organiser said. The IJS-March 2017 edition hosted more than 1,200 vendors from 17 countries, and occupied over 60,000 square metres of gross exhibition space. Sponsored by Türk Ekonomi Bankası (TEB), IJS is supported by Turkey s Ministry of Economy, Small and Medium Enterprises Development Organization (KOSGEB) and the Jewellery Exporters Association (JTR). It has been certified by the Union of International Fairs (UFI) and Quality Management System ISO Manufacturers of gold and gemstone-studded jewellery collections, jewellery mountings and trendy silver jewellery lines reported solid business onsite. About 80 percent of the buyers who come to us at this fair are from the Middle East, said Sant Iscan, owner of Iscan Mounting & Jewellery. Our classic lines of jewellery mountings all in 18-karat gold have been doing very well. Turkey s leading fine jewellery brand, Roberto Bravo, likewise launched its catchy 935 Silver by Roberto Bravo campaign. We are doing something different in our silver jewellery line. We are 42

43 TRADE FAIRS going beyond 925 silver we are bringing creativity, perfection and synergy into our silver offerings, said Selin Nizam, marketing and brand manager of Roberto Bravo. Sirzat Akbulak, a manager at the Jewellery Exporters Association (JTR), said the demand outlook for Turkey s jewellery sector remains bullish. IJS-March 2017 Top Visiting Countries Visiting Countries Visitor numbers 1. Turkey 18, Iran Iraq Algeria Saudi Arabia UAE Jordan Lebanon India Russia Ukraine Germany Israel Tunisia Syria Bulgaria Azerbaijan Morocco USA Macedonia 153 Others 2,329 TOTAL 27,587 During the first two months of the year, we already saw a 43 percent growth in jewellery exports. That s a good sign, and we are anticipating this trend to continue for the rest of the year, Akbulak told JNA. At IJS March 2017 edition, exhibitors secured new orders and new customers. These will further contribute to growth in jewellery exports. Akbulak also underscored the competitiveness of Turkey s jewellers in terms of design and manufacturing expertise. You ll notice just how far Turkish jewellers have come in terms of design, branding and marketing. We know how to produce jewellery but it was only in the last 10 years or so when our jewellers have learned how to sell their products, he said. You may know how to produce but if you don t know how to sell it, then that doesn t mean anything. Today, we are seeing a drastic change in our industry s mindset. They are chasing after new markets, employing creative marketing campaigns and participating in international trade fairs. Turkish jewellers have also gained a wider customer base, the JTR official added. They have new connections and diversified their markets. When people think of gold jewellery, the first countries that come to mind are Italy, India and Turkey. Since we are more 1. The Istanbul Jewelry Show attracts buyers from Europe, CIS countries, Middle East and North Africa 2. Buyers fill out registration forms to obtain their show badges. The B2B fair is open to qualified buyers only 3. The Istanbul Jewelry Show offers a wide array of fine jewellery collections in various styles, including this gold shoulder necklace 4. Tekin Seyrekoglu s attractive gold display 5. The fair s fine jewellery section draws heavy traffic 6. A model wears an intricate dress made of gold competitively priced and our designs appeal to a wider demographic, Turkish jewellers are almost always their favoured suppliers of fine jewellery, Akbulak said. IJS-March serves as a unique networking event and opens up business opportunities to jewellery professionals from Eastern Europe, Russia, North Africa, CIS countries and the Middle East, according to UBM Rotaforte. The fair features major jewellery brands and manufacturers specialising in diamond, plain gold, pearl and silver jewellery; loose diamonds, coloured gemstones and pearls; jewellery mountings; display and packaging products; and machinery, tools and equipment. The show s 45 th edition is scheduled for October 12 to 15, 2017 at the CNR Expo. For more details about the fair, log on to istanbuljewelryshow.com. JNA 43

44 TRADE FAIRS Jewellers, ellers, watchmakers launch inspired collections at BaselWorld BaselWorld 2017 draws more than 106,000 buyers By Marie Feliciano Watchmakers, luxury jewellers and gemstone specialists showcased their design flair, innovative techniques and craftsmanship at BaselWorld. Drawing more than 106,000 buyers from over 100 countries, the show saw the likes of Chopard, Rolex and Patek Philippe presenting their latest creations alongside luxury jewellers Graff, De Grisogono and Bayco. One of the impressive jewellery pieces launched at the show was the Grand Mogok Ruby ring by New York-based Bayco. Set within a double-row surround of pearshaped diamonds weighing a total of 14 carats, the 15-carat oval natural unheated Burmese ruby is a rarity, according to the jeweller. The important size, vivid red colour, brilliance, crystalline material, transparency and shape make this gemstone a true rarity in nature and one of the most important rubies in the world, the company said. Italian jeweller Vendorafa presented collections that reflect the spirit of elegance and exclusivity of the jewellery house. One of Vendorafa s signature elements is its gold finishes, which may be textured, satiny or glazed. This is evident Flora rings in 18-karat gold by Vendorafa. The gold petals have a hammered texture. Some of the petals are set with diamonds and fancy sapphires Luna watch by De Grisogono in its flower-inspired collections consisting of gold petals embellished with diamonds, coloured gemstones and enamel. Mattia Cielo highlighted its latest creations and new interpretations of its bestselling items. The softness of light played a major role in the new collections. It is a softness that the international photographer Fred Leveugle has captured and celebrated in a series of evocative shots presented at the show, interpreting the intensity and sensuality of both the jewellery and the woman who wears it through a play on light and shadow. The jewellery is shaped to play with light and reflect it in different ways with every movement. Its attraction is the product of expert engineering and an intimate knowledge of precious and innovative materials like titanium and carbon, according to the jeweller. They are used to create adornments that interact with the female body, offering an intense sensory experience. Mattia Cielo s Sole Collection was described as an essential line in white and pink gold softened by rounded edges that multiply reflections, while the moving component is either a rectangular pavé of diamonds or a single diamond, which appears suspended in mid-air. The Nebula Collection likewise put an emphasis on softness, sparkle and movement. The jewellery is linear and essential, embellished with ring-shaped elements in polished gold and diamonds that slide along a closed or contrarié line. The Italian brand s Rugiada Tennis line is joined by a version in yellow gold, a novelty for the classic Rugiada Collection in pink and white gold, with diamond and coloured gemstone accents. A bestseller 44

45 TRADE FAIRS because of its extraordinary lightness and flexibility, the collection s innovative titanium core gives the jewellery pieces a supple wraparound softness when worn, before returning to their original shapes. Among the new creations that Roberto Demeglio unveiled at BaselWorld was the Aura Collection. Saying that this line holds a special place in its product portfolio, the fine jeweller described it as one Mattia Cielo s Nebula bracelet in pink gold with sliding ringshaped elements that stays true to the creative concept between the colours of gold and ceramic. Baby pink, red, electric blue and brown are the shades The filigree art is founded in two basic elements: that interpreted this new line of The bead and the thread. Guerreiro s designs contemporary jewellery. present them in their most pure and minimal The choice of colour form, preserving the authenticity of this art. represents a true debut for The designer works closely with two master Roberto Demeglio, since the artisans from one of the best workshops in brand is known for its black Portugal. and white creations. Black In addition to Dew, Guerreiro also and white have always had presented four other collections namely, the ability to best express Elementos, Malha, Cheio de Ramo and Fio. Roberto Demeglio s clean Watchmakers likewise showcased their lines and essential jewellery latest novelties at BaselWorld. concepts, whether the material is Thierry Stern, president of Patek Philippe, as new as ceramic or as traditional found that the organisation of the show was good Aura bracelet by as gold and diamonds. Roberto Demeglio as were the number of visitors, our retailers and the Developed starting from the press. He added that there was a good general square or rectangular high-tech ceramic element, the reception of our novelties. Aura Collection welcomes a new series of bracelets Commenting on the essential nature of the show, and rings that present a fascinating alternate Karl-Friedrich Scheufele, co-president of Chopard, succession of gold-plated and coloured ceramic. noted, BaselWorld continues to be the most important The gold deposit, made in all the different colours of event for the watchmaking and jewellery industry. It gold, and paired with the ceramic elements lights up is also a unique networking opportunity in terms of the jewels. brand communication. He added that at this year s Mounted on the elastic structure, the Aura bracelet show, the overall mood was positive and the level of is available in different sizes: One row, two rows or business conducted was satisfactory. three rows. The rings are just as striking. Made of Commenting on the show s outcome, François ceramic elements assembled on a spring structure, Thiébaud, president of the Swiss Exhibitors Committee, the rings are a perfect fit to all finger sizes. said, Although it has been a challenging year, Liliana Guerreiro, who won the Best Piece of BaselWorld 2017 dispelled any concerns about the Jewelry Award at Inhorgenta Munich, made her market as the event has fuelled a renewed spirit of BaselWorld debut with her latest collection, Dew. creativity and innovation. This collection, handcrafted in gold and embellished The show confirmed with diamonds, portrays delicate singular elements in that the innovation and structural shapes. passion that epitomise our It s a great honour to present my work at industry, continue to hold BaselWorld, a mandatory meeting point for the centre stage. jewellery industry. I am seeking new opportunities BaselWorld s 2018 worldwide to showcase my collections and my edition is scheduled for vision about one of the most traditional techniques of March 22 to 27. JNA Portuguese jewellery, Guerreiro said. Her work is inspired by the filigree. This very complex and detailed technique is condensed to The Grand Mogok Ruby its bare elements, which she masterfully applies to ring by New York-based contemporary and sustainable pieces. Bayco 45

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48 PEARLS Designers find poetic inspiration in Tahiti From left: Richard Wan, grandson of Robert Wan, welcomes delegates to the Robert Wan Villa; this 22.5mm Tahitian pearl is one of the key attractions at the Robert Wan Pearl Museum in Papeete; from left: Candy Chan of Jewelry Express and HKJMA; Jane Chen; Heifara Trafton, advisor to the vice president of French Polynesia; Teva Rohfritsch, vice president of French Polynesia; TPAHK General Manager Ida Wong; Shen Dan; Candy Luo and Jasmine Chau 48

49 PEARLS From left: A Gauguin s Pearl Farm official delivers a presentation to TPAHK delegates ; a staff of Tahiti s Quality Control Department inspects pearls for export; TPAHK delegates inspect some of the lots at the Rikitea Auction. Photo credit: Images provided by TPAHK French Polynesia s picturesque landscape has fascinated and charmed visitors for centuries Promising designers from Hong Kong and China fell for the enchanting beauty of Tahiti during a study tour organised by the Tahitian Pearl Association of Hong Kong (TPAHK). The members of the TPAHK delegation included Jane Chen, Tahitian Pearl Award winner of the SJDA Awards; Shen Dan, first runner-up and Tahitian Pearl Award winner of the 1 st China (International) Pearl Jewelry Design Competition; and Candy Luo and Jasmine Chau, Open Group I and Open Group II Champions of the JMA International Jewelry Design Competition 2016, respectively. It was an inspiring tour and one where I experienced so many new things. Apart from exchanging ideas with other designers, I also came out of the tour with a better understanding of pearl cultivation, testing and identification, said Candy Luo, chief designer at Peter Lam Jewellery Ltd. The more I learn about Tahitian pearls, the more I love them. Jasmine Chau, a designer at PIN (Hong Kong) Ltd, said the study tour was an eye-opener. The entire trip was focused on the Tahitian pearl, Chau said. Not only did I learn how challenging pearl farming is and how rare fine-quality pearls are, I also now have a deeper appreciation for the distinctive beauty of each pearl. Jane Chen, SJDA Design Awards winner, said she now has a newfound appreciation for baroque, circle and keshi Tahitian pearls following the tour. Prior to the study tour, I only used round Tahitian pearls in my designs. The trip, however, opened my eyes to the many creative possibilities of various pearl shapes. I will definitely be using more irregular-shaped, one-of-a-kind Tahitian pearls in my collections. Shen Dan, who shone in the 1 st China (International) Pearl Jewelry Design Competition, said she was surprised to learn that Tahitian pearls come in a wide variety of colours. Each oyster produces one unique pearl. French Polynesia produces only 10 tonnes of these gems, and it s understandable why they command high prices. Ida Wong, general manager of TPAHK and head of the delegation, said the study tour was part of the association s initiatives to expand the market for Tahitian pearl jewellery in Greater China. We are confident that the delegates have been inspired by the beauty of Tahiti and its pearls. We are expecting more thrilling designs to be created following this trip, Wong said. Held from March 25 to April 1, the study tour included guided visits to the Robert Wan Pearl Museum, auctions, pearl farms and the Quality Control Department of the Marine Resources Authority of French Polynesia. JNA 49

50 PEARLS Members of the TPAHK study tour group review the lot listings at the auction The Rikitea Auction is known for its lots of Tahitian pearls in stunning colours. Information and images provided by the Tahitian Pearl Association Hong Kong Strong auction sales hint at positive business prospects The 18th Cooperate Tahiti Auction (Rikitea Auction) delivered a strong sales performance with percent of the pearl lots sold. The lots, comprising 372,650 pieces of pearls, fetched nearly 4.15 million (about $4.52 million) in revenues, 30 percent higher than pre-sale estimates, according to auction organiser, Dominique Devaux. Tahitian Pearl Export Statistics (2016 vs 2010) Year Weight (Tonnes) Value (XPF in M) QTY Price/Gram ,427 6,107, ,357 9,939,199 % change -35% -13% -39% +34% Source: Marine and Mining Resources, French Polynesia by TPAHK The auction was held from March 26 to 27 in Tahiti. The sale saw a total of 379,914 Tahitian pearls in a wide variety of Members of the TPAHK study tour group with Dominique Devaux, organiser of the Rikitea Auction colours, shapes and sizes offered for auction. The auction drew quality buyers from Japan, Hong Kong, French Polynesia, Vietnam, the US and Hawaii. Buyers from Asia accounted for percent and percent of the pearls sold in volume and value terms, respectively. The major buyers from Hong Kong were Chan Ming Wing Pearl International Ltd, Eastern Pearl Co Ltd, Fook Yue Pearl Co Ltd, Luen Hing Pearls & Jewellery Ltd, and Man Sang Jewellery (Hong Kong) Ltd. The auction attracted competitive bidding. Fifty out of 60 buyers successfully placed bids, Devaux said. We are glad to see 50

51 PEARLS Tahitian Pearl Export Statistics 2016 Country/Region Weight (kg) % Qty (Million) % Value (XPF in Million) % Hong Kong 5, % 3, % 3,428 53% Japan 4, % 2, % 2,620 41% US % % 91 1% France % % 66 1% China % % 52 1% New Caledonia % % 62 1% Guadeloupe % % 7 0% New Zealand % % 36 1% Vietnam % % 17 0% Others % % 46 1% TOTAL 10, % 6, % 6, % Source: Marine and Mining Resources, French Polynesia by TPAHK Delegates inspect a pearl lot the positive and slightly upward movement in the average price per piece in the last two years. Only 4,264 pieces of pearls were unsold, accounting for 1.1 percent of the total pearls displayed. Due to tight supply, top-grade round Tahitian pearls remain highly sought after. Production volume declined substantially in the last year due to oyster shortages, with top-quality pearls, which are unique in terms of colour, shape, size and lustre, representing less than 2 percent of the total production of Tahitian pearls, according to industry members. Although exports in volume terms fell by nearly 40 percent in 2016 compared with 2010 figures due to lower production output, the price per gram for Tahitian pearls recorded a 34 percent increase, indicating strong demand for these gems. The next auctions in Tahiti will be held in July JNA Tahitian pearls at the Rikitea Auction Circle pearls are attracting higher buyer interest 51

52 GEMSTONES Traders highlight rosy future for rubies By Bernardette Sto. Domingo and Olivia Quiniquini Buyers unwavering affinity for rubies, coupled with significant improvements in the global market, is seen to drive solid demand for the treasured red gemstone throughout Rubies of Burmese origin will remain highly sought after among major markets such as China and the US, with prices of unheated stones bearing the extremely coveted Pigeon s Blood colour likely to stay high, according to gemstone experts interviewed by JNA. The market, however, is increasingly training its sights on less expensive but equally captivating alternatives such as Mozambique rubies. Emerald- and cushion-cut rubies Steady business Prospects are bright for Burmese rubies if the first quarter of 2017 is any indication, revealed Aung Kyaw Zin, CEO of SP Gems Co Ltd of Myanmar. We have so far recorded steady sales of Burmese rubies from January to March. We don t expect substantial changes but we maintain an optimistic outlook in 2017 mainly due to stronger demand from China, noted Zin. Chinese buyers are continuously looking for natural unheated Burmese rubies of commercial but decent-quality, he added. These are more accessible than the higherquality rubies, which have become even Aung Kyaw Zin, CEO of rarer and more pricy. We welcome SP Gems Co Ltd of Myanmar this development, however, because it Rough rubies from Gemburi 52

53 GEMSTONES Polished rubies from SP Gems Co Ltd will bode well for the ruby market in the long run, remarked the company official. The fastest-moving products at the moment are rubies of 1 carat to 3 carats in size, according to Zin. Per carat prices for big-ticket, top-grade rubies range from $50,000 to $100,000 or $10,000 to $30,000 depending on the size and quality of the stone, he added. Patcharee Loetudomkitphaisan, director of Thailand-based gemstone dealer Bric Jewels Co Ltd, said 1-carat to 2-carat stones are highly favoured as jewellery centrepieces. Loose stone prices are currently pegged at $100 to $300 per carat at wholesale, the company official noted. Business is starting to pick up particularly on the retail level. In the US and Europe, we see substantial consumption from department stores and even e-commerce portals. Retailers are constantly updating their collections to include new items, noted Loetudomkitphaisan. We anticipate stronger business from the second half of The rise of Mozambique rubies Kavi Agarwal of Hong Kong-based coloured gemstone dealer Iskkon highlighted the special allure of Mozambique rubies. The company currently holds Patcharee Loetudomkitphaisan, director of Bric Jewels Co Ltd an extensive collection of top-quality, no-heat rubies in single and calibrated sizes, which it has acquired over the past two years, disclosed Agarwal. The gemstone manufacturer deals primarily in transparent gem-quality materials, from rubies, sapphires, emeralds and diamonds to sphenes, garnets and blue topaz stones. We have a couple of pieces that are above 40 carats and they are all natural. When it comes to the finer pieces, we have quite a few rubies and sapphires that are of exceptional quality, including unheated Mozambique rubies, he added. Agarwal noted that unlike Burmese rubies, which have generally been around for a long time and have been passed from one owner to another, Mozambique rubies are being sourced directly from the mines. A more stable production means I can easily supply goods per order. If a jewellery manufacturer buys rubies for a certain product line, he can be assured of a steady supply of the same high-quality goods from our company, he said. This makes Mozambique rubies a highly viable investment choice. It is not a one-off sale but something you can keep getting in the same quality, consistency and price range. Hong Kong and mainland China account for around 70 percent of Iskkon s business. According to Agarwal, the market is currently edging towards finer-quality goods, with the investment community also taking greater notice of gems and jewellery. As calibrated sizes constitute the bulk of Iskkon s inventory, the company caters mainly to jewellery manufacturers requiring a regular supply of stones to ensure continuity and consistency in their product lines. We are bullish about prospects in the Mozambique ruby business. Given our broad range of products, we are able to supply stones depending on ever-changing market trends, Agarwal added. Fiery legacy Zin of SP Gems said after the US government lifted restrictions against the trade of ruby and jadeite from Burma on October 7, 2016, majority of American dealers have yet to catch up on the Burmese ruby trade. It will take some time to harmonise the US market with that of Asia, which has a robust ruby business. There is, however, demand for heated Burmese rubies 53

54 GEMSTONES in the US. These stones have become sellable again, he noted. The US government s decision effectively waived financial and economic sanctions stipulated in the Tom Lantos Block Burmese JADE (Junta s Anti-Democratic Efforts) Act of 2008, a US legislation barring gemstones specifically rubies and jadeite from Myanmar from entering the US. A number of ruby suppliers earlier said they have already entertained inquiries from their US customers following the removal of the ban. Loetudomkitphaisan of Bric Gems, meanwhile, said the US market is likely to gain traction by the second half of the year. Rubies will always be highly desired by the market. We expect the ruby business to flourish even further. Red is a colour that is deeply associated with protection, wealth, love and passion. With the removal of the ban, ruby is bound to once again reclaim its dominant position in major markets in the US, Asia and Europe, she added. Ravi Lunia, director of gemstone specialist Faidee, echoed this sentiment, adding that Burmese rubies are coveted for their beauty and value. The colour and rarity of Burmese rubies are incomparable. They are also viewed as long-term investments, he noted. We re excited to do business with the US market again but from our observation, clients and retailers in the US are still adjusting to the lifting of the ban, and with a new Kavi Agarwal, director at Iskkon Rubies on display at Iskkon s booth at the March Hong Kong Fair US administration, it s going to take time for things to get settled but we are very optimistic about the second half of He said the company anticipates prices to increase by 40 percent to 50 percent because of limited supply of finequality rubies. Asia and the US are seen to drive Polished ruby demand for Burmese rubies throughout the year, he stated, adding that the market is surprisingly becoming more receptive to heated Burmese rubies in calibrated to single sizes. The magnificence of Burmese rubies takes precedence in a one-of-a-kind, $35-million necklace that Faidee unveiled at BaselWorld. According to Lunia, The Grand Phoenix ruby necklace consists of 24 exceptional Pigeon s Blood rubies with a combined weight of carats. The piece is further accentuated with carats of D colour diamonds in fancy shapes and of flawless and internally flawless clarity grades. The Grand Phoenix is a masterpiece a collection of flawless rubies spanning over four generations. To find a single exceptional ruby of this calibre is a daunting task but with our passion and burning desire to excel beyond perfection, we ve managed to achieve a feat never before attained in the jewellery industry, Lunia noted. Zin of SP Gems said rubies will continue to have a place in the hearts of gemstone lovers and connoisseurs. Ruby connotes passion and strength, which makes it a very significant stone. There will always be demand for this natural beauty and its legacy will live on for the next generation to uphold and appreciate, he noted. JNA 54

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56 GEMSTONES Asterism Gems with a star The luminous star-like shape that many gemstones exhibit has fascinated people for hundreds, if not thousands, of years. Now, a comprehensive book on the subject has been written by German gemmologist and asterism expert, Martin P. Steinbach Book Review by Cynthia Unninayar To say that this extremely impressive oeuvre has been a labour of love would be a great understatement; it is more a life s work. Taking nearly 30 years to complete, ASTERISM brings together, in one important and very weighty volume (literally, at 4.1 kg and nearly 900 pages), all the glowing aspects of these remarkable gemstones, including hundreds of dazzling photos and illustrations. 8 56

57 GEMSTONES Front cover of ASTERISM - Gems with a Star 2. Star quartzes and star rose quartzes offer beautiful star formations, such as this angel 3. Fine pinkish Burmese star ruby of carats 4. The Star of Ceylon star sapphire. Photo credit: Richard Allan 5. Rough trapiche rubies and a polished crystal from Mong Hsu in Myanmar 6. The famous Rosser Reeves (Star) Ruby. Photo credit: Smithsonian Institution 7. A very fine golden star sapphire of carats 8. The author in Hawaii, on Oahu, searching for volcanic peridots at the famed Diamond Head volcano, circa Former US President Eisenhower holds the carved bust of President Lincoln, one of the carved President Heads in star gems, now in the Oval Office in the White House. Photo credit: Kanzanjian Foundation 10. A superb network of stars in quartz 11. The Star of Heavenly Dreams, an 8.12-carat star tourmaline. The author believes this is the only gem of this quality and kind known today 12. Asterism meets Humanistic Gemology. A six-rayed star and 12-rayed star all in one quartz cabochon 13. The unbelievable Red Star Supersphere. It is the same one on the cover of the book, but at a different angle 14. Burmese grey star sapphire of 5.34 carats, showing two lovely stars 15. Sri Lankan quartz with multiple star network In the beginning, the plan was to write a book simply about asterism, confides Steinbach. During the many years of the writing process, however, the book grew to include more information on the provenance of these gems in addition to their scientific and gemmological properties. And, we added more of the world s most important gems and their major mining areas as well as lots of interesting stories about these mythical jewels. Steinbach s love affair with gems in general, and star gems in particular, dates back to 1982 when he travelled to Bangkok and took a gemmology course at the world-renowned Asian Institute of Gemological Sciences (AIGS). After graduation, he returned to his home country of Germany and moved to Idar-Oberstein, the gem capital of the nation. Over the years, Steinbach travelled to more than 40 countries buying, selling and collecting gems. In ASTERISM, the author starts with a description of star gems throughout history, from the Ancient World to the Mysterious Middle Ages, right up to the present day. He details research on star gems by some of the world s greatest experts in the field beginning centuries ago. The second chapter of the book features some of the planet s most intriguing and spectacular star sapphires and rubies, among other gems. These include the Star of Ceylon, Star of Asia, Star of Bombay, Rosser Reeves Ruby, Star of India, Black Star of Queensland, and many more. A noteworthy section also illustrates engravings on star gems that depict a number of US presidents and celebrities, and the stories surrounding them. May

58 GEMSTONES Beauty aside, Steinbach delves into the scientific and gemmological aspects of the causes and properties of the asterism phenomenon as well as the geology, history and occurrences of star gems. He defines epiasterism and diasterism and talks about the role of inclusions in various types of gems and how they are formed. And, because of their beauty, star gems have not escaped those who create the gems synthetically. The author explains the various treatments and what to look for when purchasing a star stone, as well as the many imitations that are on the market. Finally, Steinbach describes Dream Stars that include an unusual number of rays as well as multiple stars and trapiche stars in gems such as aquamarine, morganite, spinel, tourmaline, garnet, cordierite, quartz, amethyst, peridot and others. ASTERISM is the ultimate reference book for aficionados of star gems and experts alike. The illustrations are spectacular; the histories and stories are fascinating; and the scientific explanations are rigorous, yet clearly understandable. One thing is sure in this enormous and incredible undertaking, the stars are always shining. (star-sapphires.com) JNA Title: ASTERISM GEMS WITH A a Author: Martin P. Steinbach, FGG, AG, ASG Contact: com; Tel: Website: Price: $199 normal edition, $399 gold-embossed, leatherbound Pages: 898 Weight: 4.1kg ISBN: Page depicting the beginning of Chapter 3 in ASTERISM 2. Catch the Rainbow trapiche quartz, in polarized light, from Penas Blancas, Colombia 3. A four-rayed star tanzanite of carats. Photo credit: Karola Sieber 4. The Private Dancer star sapphire of 7.22 carats from Myanmar 5. A 24-rayed star quartz sphere in diasterism, photographed via a mirror 6. Amethyst trapiche sphere in transmitted light, entitled Purple Rain, in honour of Prince 7. A super-blue diffusion giant weighing carats 8. A fine 12-rayed star sapphire of carats from Thailand 9. Fine gems are even used in political statements. Shown here is Burmese leader, Aung San Suu Kyi, protected by amazing trapiche sapphires 10. Author Martin P. Steinbach on graduation from the Asian Institute of Gemological Sciences (AIGS) with an Accredited Gemologist degree, in 1982 in Bangkok, with the legendary W.K. Ho, founder of AIGS 10 58

59 Asia s Leading Jewellery Trade Media Platform jewellerynewsasia.com cjna.com

60 DIAMONDS Storytelling vital to natural diamond industry From left: Panel moderator Vinod Kuriyan, Kent Wong of Chow Tai Fook, Nirupa Bhatt of GIA, Bernard Bradley of De Beers Group and Maiank Mehta of Rosy Blue at the Sarjan Corporate Luncheon in Hong Kong Industry stakeholders must focus on the diamond story to win over today s generation of consumers. Speaking at the Sarjan Corporate Luncheon in Hong Kong, Nirupa Bhatt, managing director of the Gemological Institute of America (GIA) in India and the Middle East, said, The biggest thing here is the storytelling. I don t think people buy jewellery as an investment; it is an important angle but I think at the end of the day, it is about the story. Why did you buy jewellery? Who gave it to you? Why was it given to you? I think we have become so concerned about the nuts and bolts of the business that we have forgotten why people buy jewellery. As a woman, when I am gifted with a piece of jewellery, what I remember are the emotions I felt when I received the present and the occasion. I think that s something we really need to work at. Organised by Sarjan, a nonprofit organisation consisting of more than 300 members involved in the diamond and jewellery industry, the luncheon featured two panel discussions led by some of the diamond jewellery sector s most respected names. The English panel was composed of Bhatt, Kent Wong of Chow Tai Fook, Bernard Bradley of De Beers Group and Maiank Mehta of Rosy Blue. The Hindi panel featured Ghanshyam Dholakia of Hari Krishna Exports, Mavji Patel of Kiran Gems, Nimesh Mehta of Diasqua Group and Sanjay Kothari of KGK Group. At the panel discussion, Wong of Chow Tai Fook highlighted his company s efforts to differentiate its fine diamond jewellery from other goods in the market. Recently, the retailer launched the T Mark inscription, which the company said provides a thorough and accurate account of a diamond s journey. The T Mark, a patented technology developed by Chow Tai Fook, enables the traceability of the stone, from the mine to the store. Revolving around the theme To tell the truth, the campaign focuses on the 4Ts: Traceable, Transparent, Truthful and Thoughtful. I think Chinese consumers view the diamond as a personal treasure that they can pass on to the next generation, Wong said. On the matter concerning synthetic diamonds, GIA s Bhatt said, I think synthetic per se is not an issue. The bigger issue is the [undisclosed] mixing [of parcels]. One, if you sell diamonds without disclosure, it s an issue since customers must make an informed choice and they expect that we will provide them with the correct information. We must respect the customers. I believe that s first and foremost. Second, as far as the GIA is concerned, we have been, for more than eight decades now, focusing on research and making sure we develop instruments and processes to ensure that we are able to identify and track the development of synthetics and treatments. We have the capability to identify those. JNA Members of the Hindi panel. From left: Ghanshyam Dholakia of Hari Krishna Exports, Sanjay Kothari of KGK Group, Nimesh Mehta of Diasqua Group and Mavji Patel of Kiran Gems 60 May 2017

61 Coloured gemstone dealer Vikar Ahmed of Germany recently launched capsule collections set with gem-quality diamonds and the finest coloured gemstones. One of Ahmed s exceptional pieces is a ring set with a pear-shaped fancy purplish-pink diamond of IF clarity surrounded by more than 125 D-colour, IF diamonds of 1.50 carats These very fine pieces are all manufactured in Idar-Oberstein, Germany, and every item is set only with D-colour, IF diamonds, Ahmed said. The jewels, which are part of the gemstone specialist s Neo Art of Haute Joaillerie line, were made for VIP customers. The market is definitely favouring luxury items and high-end gemstones. I have also noticed that buyers are looking for oneof-a-kind coloured gemstones, diamonds and jewellery pieces, which also serve as alternative investment vehicles. However, they have to be unique to catch buyers fancy, Ahmed said. Nowadays, it is easier to sell these special items and infinitely more difficult to replace them. JNA From left: Ring set with a pear-shaped fancy purplish-pink diamond of IF clarity surrounded by more than 125 D-colour, IF diamonds of 1.50 carats; ring set with a 4.69-carat electric turquoise Paraiba tourmaline surrounded by 1.50 carats of D-colour, IF diamonds; and pendant with a 7.38-carat Paraiba tourmaline in pure electric neon blue by Vikar Ahmed. The latter gemstone is accented by D-colour, IF diamonds with a combined weight of 82 points Fancy blue diamonds record 1.9% price increase in Q1 The Fancy Color Diamond Index for the first quarter of 2017 indicated pricing stability across most fancy colour diamond categories. The main exception was blue fancy colour diamonds, which saw a 1.9 percent price increase in the first three months of 2017, continuing the trend of During the same period, yellow and pink fancy colour diamond prices remained largely unchanged. Overall, the Fancy Color Diamond Index for all shapes and sizes was up 0.2 percent for the period. The strongest performing price categories during Q were fancy intense and fancy vivid blue diamonds across all carat sizes. On a year-on-year basis, when compared to the first quarter of 2016, the Fancy Color Diamond Index was up 0.7 percent with blue fancy and pink fancy up 5.7 percent and 0.8 percent, respectively, and yellow fancy down 2.5 percent. As in Q4 2016, across all colour segments, fancy intense and fancy vivid demonstrated robust price increases, which were offset to some extent by price declines of colour diamonds in the Fancy category. The Fancy Color Diamond Index is published by the non-profit Fancy Color Research Foundation Fancy blue diamond (FCRF), and Photo credit: FCRF tracks pricing data for yellow, pink and blue fancy colour diamonds in three key global trading centres Hong Kong, New York and Tel Aviv. Highly coveted fancy intense and vivid blues are challenging to find in the market, while interest and demand for these categories continue to grow, said Eden Rachminov, chairman of the FCRF Advisory Board. This trend is likely to continue well into 2017 as owners react to supply shortages with price hikes. JNA 61

62 DIAMONDS Reena Ahluwalia with Glorious, an emerald-cut fancy yellow diamond painting Reena s glorious, luminous diamonds By Marie Feliciano Award-winning Canadian jewellery designer and painter, Reena Ahluwalia, continues to make her mark in the jewellery world with her customised pieces celebrating the beauty of diamonds. Born in India, the Toronto-based artist highlights the significance of jewellery symbolic, physical and conceptual in every piece that she creates. She is a long-time proponent of responsible diamonds that are sustainable, origin-guaranteed and conflict-free, and strives to adhere to this philosophy in her collections. Ahluwalia s projects reflect her passion for diamonds. She has won numerous awards, including the coveted De Beers Diamonds-International Award and the Rio Tinto Diamonds Global Design Competition. Ahluwalia describes her work as powerfully confident, proudly flamboyant and one that harmonises well-engineered precision and geometry with fluidity and movement. Her latest project, the Coronet by Reena Ahluwalia line, proves just that. The line s first collection, Inner Brilliance, has a unique design element a pointer that points to the true centre of one s being one s inner brilliance. Along with the pointer design element that draws attention to the centre Coronet setting, the jewellery pieces also rotate on a central axis, creating a mesmerising effect. In an interview with JNA, Ahluwalia talks about her passion for diamonds, her thriving painting career and the millennial consumer. 62

63 DIAMONDS From left: Reena Ahluwalia painting the Portrait of Perfection; Eternal necklace for Forevermark by Reena Ahluwalia; the designer poses with her Trio of Emerald Cuts paintings JNA: Please tell us something about your more recent accomplishments. Reena Ahluwalia: Last year was a good year for larger-sized fancy colour diamonds and customised jewellery. There were private commissions that I did using natural, fancy colour diamonds. Personally, it was a good year for me since I was able to focus on pieces that tell stories, and that s my signature style. In any work that I do be it jewellery design, painting or sculpture the story behind each project is the starting point for me. It has to be honest, and it must be something that people can understand and relate to. Interestingly, more millennials bought my paintings last year. That was surprising to me. I learned that people are really interested in stories that connect to them. If it touches them personally, then it becomes their story, and that is what these paintings do. In 2017, my goal is to better manage my time. I have my jewellery business and my painting business, both of which are time-consuming. I also travel often. I am taking limited projects and making only a few paintings. I am not going to mass-produce anything since I am doing this out of passion and love. With my paintings, I want people to still see every minute detail in every inch and in every millimetre of the canvas 30 years from now. JNA: What drew you to the jewellery industry? Ahluwalia: I have always been very analytical and poetic. I love structure. I like to draw and I love constructing things. What interested me the most were things that I could make, which could be personal to people. Jewellery does that. JNA: When it comes to jewellery design, you often use fine diamonds. Why do you love diamonds so much? Ahluwalia: Throughout my professional life, I have handled thousands of diamonds. The things that really jump out for me are the attributes of diamonds. ds. For example, some diamonds look brilliant, some look luminous, some look romantic. Those are the qualities that define their personalities. In fact, one of my painting series is based on these attributes. One painting is called Portrait of Luminosity, which shows a fancy vivid yellow diamond. Another painting called Glorious, meanwhile features a diamond that glows like a golden sun. In both paintings, I did not simply paint a diamond but I am celebrating a luminous and glorious you. I have another painting called Heart of Gold, and it is an expression of what s beautiful in all of us. This is why millennials connect with and relate to my work. Whatever I do, I make sure that I take my time to create something that I am really proud of, something that is technically well done, and one that I have an emotional connection with. If you want diamonds to connect with the new generation, you have to build an emotional connection between them. You can do that by celebrating their achievements and milestones. If you make it about them, then you have a winning proposition. If it is just a piece of jewellery that they cannot relate to, then it means nothing to them. This generation is about me. JNA: Despite your hectic schedule, you still manage to give talks at seminars, the more recent of which were at the Ontario College of Art and Design in Toronto and the Design Inspirations 2017 event organised by the Gem & Jewellery Export Promotion Council of India. You also support a number of advocacies. Ahluwalia: I speak whenever I can contribute my time and insights. I am a professor of jewellery, and if I can be a facilitator in a dialogue, I am happy. To me, it s all very simple it must serve people. JNA For more diamond industry updates, log on to jewellerynewsasia.com 63

64 DIAMONDS New diamond-testing device from GIA The Gemological Institute of America (GIA) has developed a state-of-the-art desktop instrument to identify natural diamonds, separating them from all simulants and from diamonds that may be synthetic or treated. The device, which the company said is easy-to-operate, is scheduled to be available in late According to GIA, the mounted gem-testing device combines advanced spectroscopic technology; GIA s extensive research into the qualities of natural, treated and Rough diamonds synthetic diamonds; and decades of diamond analysis experience to identify more than 97 percent of untreated natural mounted and unmounted D-to-Z colour diamonds sized 0.9 mm or greater in diameter (approximately carat). Diamonds that may be synthetic or treated and all simulants are referred for further examination and confirmation. There is perhaps no greater issue in the gem and jewellery trade today than concerns about the possibility of undisclosed synthetic diamonds being inadvertently sold to consumers, said Susan Jacques, president and CEO of GIA. This new instrument is the culmination of more than 60 years of GIA research into synthetic diamonds and will give the trade including retail jewellers the ability to have immediate confidence in their diamonds. Dr. Wuyi Wang, GIA s director of research and development, demonstrated a functioning prototype of the instrument in Surat, India in April during the Diamond Detection Expo and Symposium sponsored by the Gem & Jewellery Export Promotion Council. GIA is conducting further research and development to extend the capabilities of the instrument to identify natural pink diamonds and other materials. Tom Moses, GIA executive vice president, and chief laboratory and research officer, remarked, Synthetic diamonds are becoming more prevalent in the market and, if they are disclosed, are a legitimate choice for consumers. GIA and other gemmological laboratories play a critical role in ensuring that disclosure. The GIA mounted gem-testing device is the latest in a series of innovative, research-based instruments and services from GIA that address concerns in the trade about the possibility of undisclosed synthetic or treated diamonds in the supply chain. JNA Healthier market boosts De Beers rough production in Q1 The De Beers Group of Companies reported an 8 percent increase in its firstquarter rough diamond production to 7.4 million carats, reflecting a strong performance of its Gahcho Kué mine in Canada, coupled with improved trading conditions. Production in Canada increased by 290 percent to 0.6 million carats due to the contribution of Gahcho Kué, which reached commercial production on March 2, 2017, according to De Beers. Total rough diamond sales volumes in the first quarter of 2017 were 14.1 million carats from three Sights, compared with 8.1 million carats from two Sights in Q In addition, the increase reflected stronger demand in Sight , particularly for lower-value goods in stock at December 31, 2016, De Beers disclosed. Production at Debswana (Botswana), meanwhile, decreased marginally to 5.2 million carats. At Jwaneng, production was down 8 percent due to expected lower grades, partly offset by Orapa, which increased by 5 percent due to higher grades. Production at Namdeb Holdings (Namibia) rose 6 percent to 0.5 million carats due to marginally higher grades at Namdeb. In DBCM (South Africa), production surged by 19 percent to 1.1 million carats largely as a result of higher grades at Venetia. Diamond polishing at De Beers Photo credit: De Beers De Beers said its full-year production guidance remains unchanged at 31 million to 33 million carats, subject to trading conditions. JNA 64 May 2017

65 DIAMONDS Alrosa sets the stage for 2018 contract period Russian diamond miner Alrosa is embarking on a new three-year contract period beginning The announcement was made during a recent meeting with more than 70 Russian and overseas diamond companies. According to the miner, participants were given a chance to discuss current trends and challenges in the diamond market, future plans and sales structure with Alrosa. Sergey Ivanov, president of Alrosa, spearheaded the meeting. The heart of Alrosa s sales policy the sale of a major part of rough diamonds through a system of long-term agreements will not change. We also intend to preserve all the best practices in our sales system, noted Ivanov in his speech. You may rest assured that our sales policy will be improved with due account of our customers opinions and market views. The new contract period commences next year and runs until Alrosa said its diamond production during the first quarter of 2017 totalled 8.9 million carats, up 9 percent year-on-year on the back of a ramp up in diamond mining at Aikhal, Mir, International, Udachny underground mines and the processing of higher-grade ore from the Jubilee pipe. The figure is in line with its annual production plan of 39.2 million carats, added the company. Alrosa also sold 14.1 million carats of diamonds, including 11 million carats of gem-quality diamonds at an average price of $117 per carat and 3.1 million carats of industrial diamonds at an average price of $7 per carat in the first quarter of the year. Revenues from rough diamond sales amounted to at least $1.3 billion while sales of polished diamonds totalled about $32 million. JNA An assortment of rough diamonds from Alrosa. Photo credit: Alrosa Lucara schedules first diamond tender for 2017 Lucara Diamond Corporation has scheduled its first exceptional stone tender for 2017 in May, the company announced recently. Viewings for the tender will take place from May 3 to 11, with the sale closing at 4pm CET on May 11. The sale will include no less than 13 exceptional diamonds, inclusive of the magnificent 374- carat Type IIA diamond and an additional three or four stones larger than 100 carats, the company said. The combined weight of diamonds for Lucara s 11 th exceptional stone tender is expected to be greater than 1,300 carats. Lucara earlier reported that its 2016 revenues reached $295.5 million or $824 per carat, up from $223.8 million and $593 per carat in the same period a year ago. Earnings before interest, tax, depreciation and amortisation was $185.4 million compared to $133.9 million in William Lamb, president and CEO of Lucara, commented, The company achieved record sales in We demonstrated our commitment to deliver consistent and sustainable value to our shareholders as well as the strength of our cash flow generation by paying a special dividend during the year, while continuing to advance growth opportunities in Botswana. Lamb continued, We remain focused on operating performance at the Karowe mine and are wellpositioned to continue to drive operating efficiencies and safe productivity in partnership with our new mining contractor. Our capital projects for enhanced diamond recovery are on target to be completed in 2017, ensuring maximum diamond recoveries from the high-value south lobe. We also remain excited about our work on resource expansion at the Karowe mine through our Karowe mine at dusk deep drilling programme and our advanced exploration programme in Botswana. New mine contractor, Moolman Mining Botswana Pty Ltd, a subsidiary of Aveng Mining, commenced mobilisation to the Karowe mine in February. Since December 2016, during the period of transition to Aveng Moolmans, Karowe has processed ore from stockpile resulting in lower-than-forecast ore and waste mined for the year. JNA May

66 DIAMONDS Petra Diamonds cites improving market demand Petra Diamonds Ltd said it is seeing signs of improvement in the rough diamond market, fuelled mainly by steady demand across all product categories. Despite reporting a 1 percent revenue drop in the third quarter ending March 31, 2017, the company remained optimistic about future prospects. Signs of stabilisation in the rough diamond market are evident with steady demand across all size ranges, including goods that were previously impacted by Indian demonetisation, the company announced. We continue to witness further evidence of improving retail demand, with some encouraging trends in mainland China, as well as narrowing declines in Hong Kong and Macau. Rough diamond production during the period was flat at A 232-carat rough diamond recovered by Petra in September ,768 carats but run-of-mine (ROM) production was up 18 percent to 760,916 carats as a result of the ongoing ramp-up of underground expansion projects. Production for nine months to March 31, 2017 jumped 15 percent to 3,014,856 carats. The group said it maintains a full-year production guidance of 4.4 million carats. Johan Dippenaar, CEO of Petra Diamonds, commented, Further progress has been made with our expansion programmes during the period, as evidenced by the higher ROM grades, which were achieved as a consequence of the increased contribution from undiluted ore. According to the company official, a stronger balance sheet following a recent debt restructuring, as well as positive signs we are seeing in the diamond market, position us well as we continue to ramp up production from our capital programmes. Underground expansion programmes remain in line with expectations, the company also announced. JNA Mothae Resource contains 1.04m carats of diamonds, says Lucapa Lucapa Diamond Company reported that the Mothae kimberlite diamond project, which Lucapa recently acquired, contains mineral assets totalling 1.04 million carats of diamonds. This was revealed in an initial JORC classified diamond resource estimate report, according to Lucapa. The project is located in Lesotho, South Africa. The diamond company acquired a 70 percent interest in Mothae Diamonds Pty Ltd (MDL), following a competitive bidding by the government of the Kingdom of Lesotho, which retains the remaining 30 percent. MDL holds the recently awarded 10-year mining licence and other assets related to Mothae. As part of the acquisition, Lucapa said it engaged independent consultants such as the MSA Group of Johannesburg to update and convert existing Mothae Resource estimates. The MSA report revealed that the total indicated and inferred resource has been estimated to be million tonnes at a diamond grade of 2.7 carats per hundred tonnes, containing 1.04 million carats of diamonds at an average modelled revenue of $1,063 per carat price. While the estimate of million tonnes is calculated to a depth of 300 metres, MSA has modelled the Mothae kimberlite to a total depth of 500 metres below surface, corresponding to a total estimated 77.4 million tonnes, according to Lucapa. The Mothae kimberlite was discovered in 1961 by Basutoland Diamonds Ltd, following the occurrence of kimberlitic garnets and ilmenites downstream of a pipe in the Mothae River. Determination of the presence or absence of Type IIA diamonds at Mothae is important in assessing the deposit s economic potential, noted Lucapa. JNA 66 May 2017

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Rewrite your success October 2018 Chennai Trade Centre. with our legacy in South India s jewellery business. CHENNAI

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