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6 Issue number 409 SEP 2018 CONTENTS 9 MESSAGE FROM THE EDITOR Are you ready? 10 NEWS Industry should tap Gen-Z potential, says CIBJO Tracr appoints new head to lead developments Harry Winston unveils reinvented luxury timepiece 16 MARKET INDICATORS 18 COVER STORY Conch pearls: Pink and phenomenal 24 SPECIAL FEATURES Maximising online presence for jewellery businesses Jewellery trade in the digital era Emerging market set for further growth LEGENDS Chia Ta s bejewelled treasures Belmont: 40 years of emerald excellence 55

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8 Art direction & Styling: Irene Foo Styling Assistant: Tingo Ko Photography: Kim Ham Make Up: Chi Nip Hair: Po Hair Peace Model: Sofia T (Liberté) Wardrobe: N12H On the Cover Vivian earrings with conch pearl centre gems and diamond accents; and 'Pink Snow' ring with a conch pearl focal stone and diamonds by Conch Pearls Ltd 56 TRENDS & STYLES Red Rebellion Blue Paradise 60 DESIGN Classic meets contemporary: Italy s rising jewellery trends The surreal artistry of Russia JNA Jewellery Design Competition 2018/19 reveals panel of judges INSIGHT Challenges and identity: Synthetic vs natural diamonds 76 INTELLIGENCE Enchanted by emeralds Sophisticated sapphires Resplendent rubies Pearl auction grows in scale, impact Ruans: Building a pearl brand 96 EVENTS JNA Awards 2018 recognises industry leaders 56

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10 Director Irene Foo Publisher & Editor-in-Chief Christie Dang EDITORIAL Editor Olivia Quiniquini Managing Editor Sze Man Young Assistant Editors Bernardette Sto. Domingo, Dodo To Senior Researcher William Yick ADVERTISING Assistant Director Christine Sinn Advertising Manager Tina Hui Account Managers Jennifer Chan, Karen Lam Sales Administrator Tingo Ko MARKETING Assistant Marketing Manager Winkle Yim Senior Marketing Executives Althea Long, Grace Tam Online Specialist Pansy Lo CIRCULATION & SUBSCRIPTION Senior Circulation Executive Lonita Hui PRODUCTION Senior Production Manager Jessie Quek Senior Graphic Designer Eva Kam Advertising Administration Eva So China: Italy: Japan: Taiwan: ADVERTISING REPRESENTATIVES Wendy Yip, UBM China (Guangzhou) Co Ltd Tel: (86) Shenzhen Office Tel: (86) Mauro Arati, Studio Luciano Arati sas, Largo Camus, 1, Milan - Italy Tel: (39) info@studioarati.it Nobuaki Nito, UBM Japan Co Ltd Tel: (81) nobuaki.nito@ubm.com Sabine Liu, UBM Asia Ltd - Taiwan Branch Tel: (886) sabine.liu@ubm.com Thailand: Anuchana Vichvech, UBM Asia (Thailand) Co Ltd Tel: (66) anna.v@ubm.com US: Cecilia Wun, UBM Asia Ltd USA Tel: (1) cecilia.wun@ubm.com President & CEO Jimé Essink Senior Vice President Wolfram Diener Founder Letitia Chow Mei Lai Published by UBM Asia Ltd 17/F, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong Telephone: (852) Fax: (852) JewelleryNet.com Copyright Contents of JNA are copyright. Reproduction of material in part or in whole is not permitted in any form without the written authorisation of the publisher. JNA 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.

11 Message from the Editor Are you ready? The global jewellery scene has entered a whole new season of vibrant activities. Over the last three quarters, we have witnessed jewellery manufacturers exploring opportunities by applying fresh concepts and the latest technology in their product lines. Innovation is no longer confined to the look of a jewellery piece, but is now more evident in its multifunctional nature. In a fast-changing market, multitasking has become a vital part of jewellers and customers everyday lives. In this issue, we look into how jewellery companies are making use of the Internet to bring their businesses to a new level, and how crucial online marketing, e-management and e-tailing are to their success. In this month s Special Features section, Kevin Metz, chief marketing officer of Stuller, talks about his insights into future trends in the digital and jewellery industries (pages 32 to 35). As our contributor Esther Ligthart points out in her report on pages 24 to 31, e-commerce is not just for millennials. A modern approach to selling and buying online is indispensable to today s consumers who are constantly looking for rich content, engaging presentations and interactive functions. Are you ready for new levels of success in a highly modern jewellery world? Publisher & Editor-in-Chief Christie Dang

12 NEWS Industry should tap GEN-Z POTENTIAL, SAYS CIBJO A new generation of buyers, aptly known as Generation Z, is expected to influence new marketing strategies in the jewellery sector, a new report from The World Jewellery Confederation (CIBJO) said. The Marketing & Education Special Report, which delved into the impact of Generation Z (post-millennials born after 1996) consumers on the jewellery market, was released ahead of the opening of the 2018 CIBJO Congress in Bogotá, Colombia, on October 15. Prepared by the CIBJO Marketing & Education Commission, headed by Jonathan Kendall, the report further revealed that Generation Z is expected to account for about 40 percent of all consumers by It is essential that the jewellery industry adopts marketing strategies and methods that are appropriate to successfully connect with Generation Z, noted Kendall. Gone are the old media approaches of TV commercials, long-term PR plans and static messaging. Today it s all about fast delivery of interactive messages. Studies indicate that members of Generation Z rely on the advice of their peers, who may be located in multiple locations, meaning that jewellers have to create products with a global appeal. They are also more conservative and risk averse than millennials who precede them, but at the same time are decidedly socially and environmentally conscious, continued Kendall. Jewellery companies should also take advantage of social media platforms such as Snapchat, Twitter and Instagram to get their message across. This modern marketing tactic includes uploading original or repurposed content such as jewellery photos or videos, posting personal stories of love, milestones and experiences and making use of celebrities or influencers to connect with buyers all the while making sure that the messages are authentic and powerful. We need to show we care because they very much care, added Kendall. We must be clear about what we stand for so that our businesses, brands and products are not interpreted as being uninvolved or, even worse, opposed to the social causes that are important to Gen Z. IDWI 2019 slated for January Diamond traders from various markets will come together for the next edition of the International Diamond Week in Israel (IDWI) scheduled for January 28 to 30, IDWI, organised by the Israel Diamond Exchange (IDE), has become a prime buying venue for diamond dealers from around the world. Considered a boutique show exclusively for diamond buyers, IDWI offers a large quantity and variety of goods. The event has become a staple on the global diamond calendar and attracts hundreds of international buyers every year. IDE President Yoram Dvash commented, IDWI has become a tradition in the diamond world and each year, it has become bigger and more exciting. The next edition will be the biggest and most exciting show so far. We invite you to join us, to soak up the dynamism and the energy, and to do business. For his part, IDWI Chairman Ezra Boaron said, The 2018 IDWI was a huge success and it surpassed all of the previous ones. We re planning to make the next IDWI even more thrilling than before. Buyers at a previous edition of IDWI JNA 10 SEP 2018

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14 Tracr, the end-to-end diamond industry blockchain being developed by De Beers Group in collaboration with industry stakeholders, has named Jim Duffy as general manager to lead the next phase of the platform s development. Duffy is joining Tracr as the platform starts to build greater scale, with more than US$100 million worth of rough diamonds having been registered on the platform since the launch of the pilot in January Prior to this appointment, Duffy led several tech start-ups and has worked both in large multinational technology companies and in the financial sector. As general manager of Tracr, he will be responsible for further development and scaling of the platform and leading a team of world-class diamond industry and technology experts. He will oversee all operational and commercial aspects of the venture, driving its go-tomarket strategy and engagement with stakeholders. Neil Ventura, executive vice president for Strategy and Innovation at De Beers Group, commented, Jim s skills and experiences are the perfect fit for realising the NEWS TRACR appoints new head to lead developments Jim Duffy, Tracr s new general manager vision we have for Tracr a unique digital platform that will enhance long-term sustainability and deliver a range of benefits for the whole diamond industry. He brings extensive corporate and technology start-up experience that will be crucial to the continued development of Tracr, including successful scaling of technology-driven businesses across a number of sectors. Duffy remarked, I m thrilled to be joining the Tracr team and building on the great work that has already been completed as we further progress this potentially far-reaching initiative for the diamond industry. In the next several months, we ll be focused on continuing to bring new strategic partners on board to participate in the Tracr pilot and incorporate the learnings from the pilot phase into what will be a collaborative and purpose-built industry platform. The Tracr pilot currently involves five leading global diamond manufacturers and the world s largest retailer of diamond jewellery, Signet Jewelers. The pilot is focused on ensuring the platform s ultimate design meets the needs of users at different stages of the value chain. Harry Winston UNVEILS REINVENTED LUXURY TIMEPIECE Legendary jewellery house Harry Winston recently launched the Midnight Chocolate Diamond Drops luxury timepiece as a tribute to nature s breathtaking beauty. The watch s delectable chocolate mother-of-pearl dial offers a warm background against an icy scenery of diamond snowflakes, and melds seamlessly with the golden case. The dial s winter-inspired design features 214 brilliant-cut diamonds in varying sizes that resemble a snowfall, the company revealed. The mother-of-pearl meanwhile provides a unique lustre and natural iridescence to the piece. The House of Harry Winston has mastered the technique of slicing nacre into wafer-thin slivers perforating it for gem-setting, when necessary. The sumptuous, rich chocolate colour of the mother-ofpearl provides the perfect sophisticated backdrop in contrast to the 18-karat rose gold case and icy diamonds, noted the jeweller. Harry Winston s Midnight Chocolate Diamond Drops timepiece JNA 12 SEP 2018

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16 NEWS Tiffany TO TRANSFORM NY FLAGSHIP STORE Tiffany & Co is giving its renowned New York City flagship store a new face in 2019 in a bid to further enhance its clients buying experience. The 10-storey architectural icon at 57 th Street and 5 th Avenue has served as the cornerstone of Manhattan s most fashionable shopping district since its opening in We are extremely excited about the opportunity to transform our iconic New York flagship store and create a dramatic new experience for customers, said Alessandro Bogliolo, CEO of Tiffany. Innovation will remain at the forefront of Tiffany s plans for 727 Fifth Avenue, and the newly reimagined flagship will serve as the modern crown jewel of our global store network. To minimise any disruption during the renovation, Tiffany has arranged to temporarily expand its retail space to the adjacent 6 East 57 th Street. With an anticipated completion in the fourth quarter of 2021, investment in this project is expected to raise the company s capital expenditures as a percentage of worldwide net sales by 1 percent to 2 percent each year for the three fiscal years beginning February 1, 2019, Tiffany disclosed. According to the company, the location of Tiffany s New York City flagship store followed the path of the city s growth, beginning with founder Charles Lewis Tiffany s first emporium at 259 Broadway, which opened in He subsequently moved his store to 271 Broadway (1847), 550 Broadway (1853) and Union Square and 15 th Street (1870). Three years after his death in 1902, the store moved to Fifth Avenue and 37 th Street; and in 1940, its current location opened at 727 Fifth Avenue. Facade of Tiffany s flagship store in New York ERRATUM: In the previous issue of JNA, a story on Deakin & Francis erroneously identified Charles Washington Shirley Deakin as an Indian surgeon. Deakin was one of the British founders of the brand. We apologise for this oversight. JNA 14 SEP 2018

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18 MARKET INDICATORS Key features of the new FTC Jewelry Guides: The word diamond still means diamond. When used in marketing or ad materials, the word diamond alone still means a natural diamond from earth. - Laboratory-grown diamonds must be disclosed using the words laboratory grown, laboratory created, (manufacturer name) created, or a similar word or phrase that clearly discloses the nature of the product - If the word cultured is used, it must be accompanied by one of the disclosures above; cultured cannot be used alone - It s okay to use the word synthetic, just not in a way that implies it s a simulant The words real, genuine, natural, semi-precious and precious can only be used to describe diamonds and coloured stones from earth and not products manufactured or artificially produced. The 10-karat minimum on gold has been eliminated. There is no limit on what can be called gold so long as the fineness is disclosed. All rhodium plating must now be disclosed. Source: Jewelers Vigilance Committee and Diamond Producers Association US$530 million Total value of De Beers rough diamond sales for the sixth sales cycle of 2018 Bruce Cleaver, CEO of De Beers, commented, In the sixth sales cycle of the year, demand for De Beers rough diamonds was in line with expectations during the seasonally quieter summer period for the industry s midstream sector. 7.5 Percentage increase in China s jewellery retail sales from January to July this year compared to the same period in 2017, data from the National Bureau of Statistics of China revealed. JNA 16 SEP 2018

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20 COVER STORY JNA 18 SEP 2018

21 COVER STORY Conch pearls: Pink and phenomenal The colour pink is a clear-cut allusion to things delicate and sweet. In the gemstone universe, only a handful of natural stones come to mind as impeccable illustrations of all that pink stands for tempered, pure, ultra-feminine and among them is the highly coveted conch pearl. By Bernardette Sto. Domingo Art direction & Styling: Irene Foo Styling Assistant: Tingo Ko Photography: Kim Ham Make Up: Chi Nip Hair: Po Hair Peace Model: Sofia T (Liberté) Wardrobe: N12H Jewellery: Conch Pearls Ltd Touche earrings: Conch pearls, sapphires and peridots Garden ring: 20-carat conch pearl centre stone, diamonds and pink sapphires JNA 19 SEP 2018

22 COVER STORY Aurus earrings: Conch and Akoya pearls, and diamonds Tassel necklace: Conch pearls, South Sea pearls and diamonds Toi et Moi ring: Conch pearls, pink sapphires and diamonds JNA 20 SEP 2018

23 COVER STORY Satellite earrings: Conch pearls, brown diamonds and aquaprase stones Pink Snow ring: Conch pearl and diamonds JNA 21 SEP 2018

24 COVER STORY JNA 22 SEP 2018

25 COVER STORY With global buyers becoming extremely discerning about products and services that they purchase, gemstone and jewellery traders are faced with the challenge of innovating every so often to stay ahead of the game. Bertrand Ternat, owner of Conch Pearls Ltd, is bent on meeting this challenge head on by introducing revolutionary changes in the trade. First, he established a colour and flame grading system for conch pearls aimed at facilitating consumer education. In June this year, the company started issuing certificates for conch pearls. Detailed information including the pearl s weight, size, colour, shape and the degree of flame are disclosed in the certificate, which in turn helps buyers understand the pearl s unique characteristics and identify price points depending on product quality. Innovations The colour system classifies conch pearls into multiple colour categories. There are three varieties of pink, namely Sakura, salmon and flamingo. Each category is further divided into various grades in accordance with colour intensity. The degree of flame, on the other hand, is split into five levels. While conch pearls under all colour categories remain attractive to the market, Chinese clients are partial to flamingo (pink with a touch of red) and Sakura (pink with a hint of white), according to Ternat. Salmon, which is achieved with a tinge of orange added to pink, is a more personal, intimate choice. US and European markets gravitate towards lighter, more saturated colours, he added. This colour classification helps us better understand what clients are looking for, stated Ternat, adding that the colour system and the certificates provide vast benefits for the trade. We are professionalising the business even further. Response from the market has been tremendously positive. The more we use it, the more we encounter people saying I want a Sakura light they know exactly what they want. Having those elements available to them helps them create a budget. It empowers and educates both buyers and clients. We provide them with the tools to do good business, he continued. Business prospects Conch pearls are making significant strides in the gemstone and jewellery sector, owing to the market s penchant for natural, unique gems. To further fuel buyers passion for pink pearls, Ternat said his company actively participates in international trade exhibitions. We have been exhibiting in a lot of places so people automatically think of us when they re looking for conch pearls. I m positive about the future of the business, he disclosed. The company s biggest clients are from China, Japan and Taiwan. Its buyers range from high jewellers or top brands and major but unbranded jewellers to small, individual jewellers. A great deal of buyers have developed an appetite for conch pearls. We offer a wide spectrum of products from low to medium and high end, with various colours, shapes and sizes. We are proud of this because we are able to meet the overall sourcing needs of buyers, he remarked. Earth earrings: Conch pearls, emeralds and aquamarine stones Underwater pendant: Conch pearl, Paraiba tourmalines and diamonds JNA 23 SEP 2018

26 SPECIAL FEATURES MAXIMISING ONLINE presence for jewellery businesses Against a highly modernised backdrop, majority of today s jewellery retailers have yet to transition to a more active digital presence by having dynamic websites and fast, reliable e-commerce capabilities. By Esther Ligthart So-called static websites with blurry images and less engaging content are potentially jeopardising companies digital businesses. In the jewellery industry, this can t be truer. A trial navigation of some jewellery retailers static websites revealed how they continue to lag behind more influential players in the fashion and luxury industries. Age of AR Swedish multinational furniture retailer IKEA has put in place an app that lets customers see or test how a certain item would look in their homes using a smartphone camera. The IKEA Place app, which uses augmented reality technology, is changing the way people are buying furniture. This kind of high-tech development creates a perfect match between website and JNA 24 SEP 2018

27 SPECIAL FEATURES content combining business with a unique customer experience thereby offering real value to both retailer and consumer. While most jewellery companies may not have the financial muscle to introduce such innovations, exploring possibilities now may give them a head start in eventually developing a more dynamic online presence. Rich content Content is categorised as rich if it s interactive and it contains text, videos, photos and podcasts as well as links, infographics and tools aimed at entertaining, informing and engaging the customer. According to content company Zmags, 92 percent of retailers think it s important to create rich content online. However only 70 percent can manage to upload something that can be considered rich content every month. Small jewellery companies, for their part, lack the resources to undertake such initiatives. One of the main reasons that jewellery companies aren t catching up with the trend of creating engaging websites is they don t have the time, tools and inspiration to develop the kind of content that will set them apart from the competition. During a CNBC interview, Ben Silbermann, CEO of Pinterest, stated that the future of search is going to be about pictures instead of keywords, underscoring the importance of visual content for a website. Whether Silbermann is right or wrong, photos and videos are extremely important. Knowing the right way to label photos with plain text and optimising images create better findability of the content. More videos and photos create heavy content. Speed is likewise important as bounce rates go up when pages load slowly. According to Google s Speed Update released early this year, page load speed will become a ranking factor in mobile search. It s also important to use compression and the right format for all video and photo content. A helpful online tool for website managers is PageSpeed Insights, which could help analyse and optimise the webpage, and ultimately make it run faster. Here s a tip: While it may be a challenge for smaller brands and companies to create content, it should become a priority to appoint someone within the company to oversee this task and upload content at any time. Using photos across all channels such as websites and social media platforms is an easy way to repurpose visual content and create a recognisable look and feel. Try scheduling a content calendar for the website and social media sites, and stick to the calendar. Content is rich if it s interactive and it contains text, videos, photos and podcasts as well as links, infographics and tools aimed at entertaining, informing and engaging the customer. JNA 25 SEP 2018

28 SPECIAL FEATURES A recent Forrester forum revealed that non-millennials not just millennials are open to more progressive ideas and willing to adopt a more modern approach to buying online. Not just for millennials Bricks and mortar may be king in the retail world but e-commerce is growing rapidly. Salesforce Research s 2017 Connected Shoppers Report stated that 40 percent of millennials surveyed view voice-enabled digital assistance 16 percent of US households already use one such as Amazon Echo and Google Home, among others, as more useful for shopping. The other 60 percent meanwhile think they know more about a product than the average store clerk. A recent Forrester forum also revealed that nonmillennials not just millennials appear to be open to more progressive ideas and willing to adopt a more modern approach to buying online. PWA the golden idea? According to Google Web Fundamentals, Progressive Web Apps (PWA) are experiences that combine the best of the web and the best of apps. They are useful to users from the very first visit in a browser tab, with no installation required. As the user progressively builds a relationship with the app over time, the app becomes more and more powerful. It loads quickly, even on flaky networks, sends relevant push notifications, has an icon on the home screen, and loads as a top-level, full screen experience. On average, a 20 percent boost in sales or engagement is shown when a company adapts to a PWA. Data from web developer Cloud Four revealed that companies such as Petlove, an online retailer of pet supplies, saw a 280 percent increase in conversion ratio by simplifying registration forms and automatic login for returning visitors. Twitter Lite meanwhile recorded a 65 percent improvement in page visits, 75 percent more tweets and 20 percent less bounces. Trivago, for its part, registered a 150 percent increase in users. PWAs are costly to develop but could prove to be a wise investment for any online retailer seeking to have more loyal and returning visitors. A recent Gartner Research study showed that PWAs are likely to replace a minimum of 50 percent of general consumer apps by Forrester, for its part, said the world will spend US$1 trillion by 2021 reinventing the web to make it mobilefirst. Companies should plan to spend between 20 percent and 100 percent more on digital experiences than what they are spending today, continued Forrester. E-commerce and customer convenience According to enterprise e-commerce platform Shopify Plus, e-commerce is expected to grow from 11.9 percent currently to 17.5 percent in In a highly competitive market, anything that stands out in consumer experience while shopping will give a brand or retailer/e-tailer a competitive advantage. A niche jeweller may not need as much as a larger company with more competitors but it too will need to invest in how to reach their targeted clientele more effectively. An example of creating comfort for online consumers is The Amazon Hub, which is a set of special lockers or compartments installed in apartment blocks where packages are delivered and stored. The recipient needs to enter a pickup code to collect their online purchases. With Echo Look a smart AI (artificial intelligence) device with camera that offers outfit advice while integrated with Amazon s e-commerce platform and is shareable on social media Amazon makes shopping more intimate and social, while gathering data about consumers. JNA 26 SEP 2018

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30 SPECIAL FEATURES What is a Progressive Web App? A PWA is: Progressive works for every user, regardless of browser choice, because it s built with progressive enhancement as a core tenet Responsive fits any form factor: Desktop, mobile, tablet or whatever is next Connectivity independent Enhanced with service workers to work offline or on low-quality networks App-like feels like an app, because the app shell model separates the application functionality from application content Fresh always up-to-date, thanks to the service worker update process Safe served via HTTPS to prevent snooping and to ensure content hasn t been tampered with Discoverable is identifiable as an application, thanks to W3C manifest and service worker registration scope, allowing search engines to find it Re-engageable makes re-engagement easy through features like push notifications Installable allows users to add apps they find most useful to their home screen without the hassle of an app store Linkable can easily share the application via URL; does not require complex installation JNA 28 SEP 2018

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32 SPECIAL FEATURES Auvere earrings Auvere: A fresh look at jewellery online retail Auvere is an online gold jewellery retailer with a website that integrates a great look and feel with a seamless e-commerce experience. Steven Feldman of Auvere talked to JNA about the company and its novel approach to capturing the hearts of today s buyers. JNA: What is the concept behind Auvere? Feldman: Auvere offers jewellery buyers a better value proposition by combining modern design and traditional hand-craftsmanship with the enduring value and appreciation of high karat (22-karat and 24-karat) gold. In short, we sell beautiful jewellery to wear or give, which will go up in value over time. The idea behind Auvere was a product of my professional and personal experience. I am the co-founder and CEO of GBI, LLC, a financial technology company with a physical gold trading/investment platform that serves global wealth managers. I am also a luxury goods buyer who would like to see those purchases go up in value. My partner, Gina Love, is a very talented designer and she s the brains behind the jewellery designs and the website. JNA: How important are websites for jewellery retailers? Feldman: The major brands all have good websites but for the most part, the industry is a brick-and-mortar story with large mark-ups from wholesale to retail. Auvere is solely an e-commerce enterprise and can offer better pricing because it does not have the overhead attendant with brick-and-mortar stores. The common thinking is that luxury goods or items that cost more than US$1,000 need to be experienced for the first time in person. Most jewellery brands have their own stores or sell wholesale to multi-brand stores. As a result, the online experience is often no more than an electronic catalogue. This paradigm is changing. As more people become accustomed to purchasing luxury goods online (including high-end jewellery), we expect that the online experience will become even more dynamic and pleasurable. Brands will need to make sure that their websites do more than feature products. Websites will have to educate, entertain and entice customers in addition to showcasing products. JNA 30 SEP 2018

33 SPECIAL FEATURES JNA: What should online retailers prioritise content, photos or easy navigation for customers? Feldman: The truth is that the site has to have all of that and more. It is so easy for a customer to bounce off of a site one click and they are gone. So it goes without saying that the online shopping experience has to be excellent. Of course, it starts with the product in our case, well-priced/designed jewellery presented in a compelling way. Navigation is critical. That said, given the intense competition for customers in the jewellery and luxury goods market today, beautiful products and navigation are now a given. You must arrive at the starting line with those features. What distinguishes brands these days is content. Content that educates, delights and provides a sense of community. We recently launched The Gilded Ones to feature fashionable people (not models) and their stories, which we believe resonates with consumers more than paid spokespeople. E-commerce is something that every brand should be considering at a minimum, e-commerce complements their other channels of distribution. E-commerce is far from a panacea for jewellery retail. Like brick-and-mortar stores, it has an entire set of challenges. And like retail, it can and will fail if not done well. If anything, I would recommend that a retailer think about e-commerce as a store and figure out what will make your customers come in, stick around, and hopefully buy something from time to time. Auvere bangles About the author Founder of jewellery blog Bizzita.com, Esther Ligthart has 25 years of international sales and marketing experience in the jewellery industry. She now enjoys contributing to trade and luxury magazines and working as a business consultant. JNA 31 SEP 2018

34 SPECIAL FEATURES JEWELLERY TRADE in the digital era Despite a strong foundation, the jewellery industry is not entirely immune to challenges brought about by today s digital age. Kevin Metz, chief marketing officer of world-renowned jewellery manufacturer Stuller, shared with JNA his insights into jewellery industry trends and changes in consumer behaviour in the digital era. Digital trends The impact of digital technology in the jewellery space is undeniable, particularly in the retail sector. According to Kevin Metz of Stuller, consumers are always looking for a great online shopping experience. What are consumers expectations when shopping online? A recent survey suggests imagery and content are the most important, followed by functionality, which includes checkout, search and navigation. The keys to a great online shopping experience Source: Statista, December 2017 Kevin Metz of Stuller JNA 32 SEP 2018

35 SPECIAL FEATURES Data from the US Department of Commerce revealed steady growth in jewellery sales as of 2016, of which 8.1 percent is attributed to online jewellery sales. An interesting development is how fast online sales are growing annually. Annual jewellery retail sales (In US$ billion) $90 $80 $70 $60 $50 $0.5 $0.6 $0.7 $1.0 $1.1 $1.8 $2.1 $2.7 $3.0 $2.8 $3.3 $ % $4.6 $5.1 $84.9 billion $5.5 $6.5 $6.9 $40 $30 $49 $47 $48 $51 $55 $58 $62 $64 $62 $57 $59 $66 $68 $70 $73 $74 $78 $20 $10 $ Retail Store Online Sales (Bill) Source: US Department of Commerce Total annual US jewellery retail sales in 2016 were US$84.9 billion A 5.5 percent growth in 2016 over 2015 Annual online jewellery retail sales (In US$ billion) $8.0 $ % Total Jewellery +6.2% $6.5 $6.9 14% 12% $6.0 $5.0 $4.6 $5.1 $5.5 10% 8.1% $4.0 $3.8 8% $3.0 $2.7 $3.0 $2.8 $3.3 6% $2.0 $1.8 $2.1 4% $1.0 $0.5 $0.6 $0.7 $1.0 $1.1 2% $ Online Sales (Bill) Industry Mix% Source: US Department of Commerce % Online jewellery sales were US$6.9 billion or 8.1 percent of total jewellery retail sales 2016 online sales were 6.2 percent greater than 2015 faster than the 5.5 percent growth rate for the total jewellery market JNA 33 SEP 2018

36 SPECIAL FEATURES What are the next trends, innovations and tactics that will contribute to digital disruption? According to Metz, these are seven concepts and developments to watch out for in the digital and jewellery industries. 1. Data-driven decision-making o Access to consumer and market trends, data and insights for making informed decisions o Fast fashion, rapidly shifting trends mean consumers regularly buy new items, regardless of the season o Jewellery retailers must become more agile and flexible to rapidly adapt to changing market trends and consumer demands o Real-time analytical capabilities: With the right technology in place, brands can view and evaluate the real-time insights required to guide design, merchandising and inventory allocation 2. Customisation o Consumers want something unique that no one else has. They want to be involved in the process of creating that unique thing o Many retailers are developing and providing online digital experiences that enable consumers to create or configure something that is perceived as unique their own jewellery creation o Those that are able to provide an easy-to-use experience that allows the consumer to see or visualise the final product will excel 3. Omnichannel o Provide a seamless customer experience, regardless of the platforms desktop, mobile, telephone or bricks and mortar o Promotions should be easy to see over multiple channels, saving time on calling around and spending time comparing different platforms o The more efficient and clearer you relay information to your potential customers, the more likely they are to purchase from you and form relationships in the long run o Only 54 percent of watch and jewellery brands have a buy online feature; 15 percent offering in-store pickups; 9 percent integrating live inventory availability on their sites. (Source: L2 Digital Intelligence) 4. Personalisation Research shows that personalised content can increase average order size by >20 percent JNA 34 SEP 2018

37 SPECIAL FEATURES o More retailers are looking at personalisation as a way to enhance shopping experience o While brand loyalty is fleeting in the new consumer-centric economy, superior service and personalisation will differentiate the winners from the rest of the pack o A unified view of the customer allows brands to leverage buying patterns, behavioural data and contextual insights for a truly personalised experience 5. Content & content marketing o Providing consumers with the necessary information (or content) needed for decision-making in the right place at the right time o The basics: Detailed product descriptions, clear product imagery with multiple views, and product attributes with ability to select options o But consumers are now expecting more: Ratings and reviews, video, Q&A capability, usergenerated content, testimonials, storytelling blogs 6. CAD, CAM and 3D printing o While many jewellers continue to utilise traditional manufacturing techniques, we ve seen an increased proliferation of digital techniques including CAD software and 3D printing for manufacturing 7. New business models leveraging digital tools & venues o Entrepreneurs are finding NEW approaches to starting jewellery businesses beyond the traditional brick-and-mortar storefront 36% 64% Traditional independent jewellers are estimated to generate just over one-third of total market revenue (Source: US Economic Census) Digital Success Checklist: 1. Know your customer 2. Know your competition 3. Know who you want to be define your brand 4. Get the right talent in the right place at the right time 5. Deploy the appropriate technology to meet your needs 6. Promote yourself through digital advertising 7. Provide the ultimate customer experience JNA 35 SEP 2018

38 ADVERTORIAL CSARITE : Beloved gem from Anatolia Mined from a single source more than 3,000 feet high in the Anatolian mountains of Turkey, the gem Csarite has captivated millions since its discovery. Valued for its rarity and unique appeal, this gem is expected to command attention at the September Hong Kong Jewellery & Gem Fair. Colour-change Csarite gems The exceptional Csarite returns to the September Hong Kong Fair to once again entice buyers at the AsiaWorld-Expo. The gem, traded by its namesake company, is said to be so rare that for every 10,000 diamonds cut and faceted around the globe, a single piece of Csarite is unearthed. It has a hardness of 6.5 to 7 on the Mohs scale, a natural brilliance and eye-clean appearance. One of its most endearing attributes is its ability to change colour, depending on the time of day and lighting. Its colours range from softer hues indoors to a rich palette of kiwi greens under the sun to raspberry purplish-pinks in candlelight. New developments At the show, the company Csarite is showcasing an extensive selection of top-quality gems in innovative cuts as well as fresh designs resulting from collaborations with various designers. The company also aims to shed light on impending price increases, which it regarded as seemingly inevitable, considering challenging mining conditions in Turkey. Its new booth meanwhile pays homage to Csarite s unique properties. Images and videos of the excavation process will be made available to buyers in a bid to educate the trade about the stone. Csarite is in demand more than ever, with production becoming more difficult and costly every day, despite continued investments in equipment and infrastructure, revealed the company. Extraction of quality Csarite requires more experienced personnel, technology and deeper exploration. Based on expert assessments, a carat price hike seems unavoidable. Current conditions could drive per carat prices of large stones to over US$1,000, the company added. The price per carat of calibrated gems ranges from US$30 to US$200 while larger gems of over 5 carats cost US$500 to US$1,000 per carat. Csarite revolution US-based designer Jennifer Dawes displayed her Csarite jewellery pieces at JCK Las Vegas earlier this year. She cited the stone s defining characteristics as natural and untreated, with tantalising colour-changing abilities and a smidge of chatoyancy or cat s eye effect. Designer Jules Kim of Bijules, for her part, has designed Csarite pieces worn by Hollywood star Rumer Willis. A responsibly sourced stone, Csarite is extremely appealing not only to environment-friendly designers but to millennials as well. The company said it is continuously making strides in educating the market about the prized Csarite through media and celebrity engagements, social media posts and red carpet placements. JNA 36 SEP 2018

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40 ADVERTORIAL PNJ leads innovations in Asia s jewellery sector Phu Nhuan Jewelry Joint Stock Co (PNJ) is celebrating three decades of unprecedented success, further cementing its reputation as one of Asia s most influential jewellery manufacturers. Phu Nhuan Jewelry Joint Stock Co (PNJ), Vietnam s top jewellery manufacturer and retailer, has collected various milestones in its 30 years of operations. Each milestone, the company said, represented its unmatched artistry and innovative spirit. The jeweller established a state-of-the art production facility in 2012, making PNJ the only company in Vietnam that owns a factory with modern equipment and a 1,000-strong staff composed of skilled jewellers and jewellery artisans. With an area of 12,500 square metres, it is the largest jewellery factory in Vietnam, contributing vastly to the country s overall production capacity. 18-karat gold brooch with diamonds from the Rhythm on Terraced Fields Collection On the retail front, PNJ is in the midst of implementing a 10-year development strategy to mark its expansion into the retail business, with a heavy focus on fortifying its retail and manufacturing expertise. PNJ currently has a nationwide retail network of more than 300 stores. The company said it is capable of effectively managing distribution channels and carrying out expansion plans. Since its establishment, the PNJ brand has gained the trust of consumers, thanks to its top-quality products and customer service, as well as transparency in doing business, the company said. Asian perspective With Asia quickly emerging as a new hub for jewellery trade due to its population and economic prowess, PNJ s role in helping to raise the profile of Asian jewellers globally has become even more pronounced. Asia s economy is growing fast, fuelling the purchasing power of consumers. The habits and preferences of consumers in Asia are also changing and mirroring those of Western buyers, which means people are purchasing jewellery for aesthetic purposes rather than as an investment tool, explained PNJ. In Vietnam, this economic advancement presents enormous opportunities for jewellery industry players. Technology likewise plays a crucial role in strengthening the business and ensuring seamless operations, said the company. We are bent on applying modern technology across our production chain, specifically the so-called Industry 4.0, to modernise our manufacturing processes and further enhance customer experience, noted PNJ. Industry 4.0 describes the current trend of combining physical and digital technologies to redefine and transform traditional ways of manufacturing products and running businesses. New collection PNJ is also introducing its Rhythm on Terraced Fields Collection, which brings to mind Northwest Vietnam s breathtaking rice terraces. The colour of rice blending flawlessly with ripples of land resembling silk ribbons evokes the mountainous area s gentle yet striking beauty, remarked PNJ. Planted on terraces, the rice is watered by rain from the forest and nurtured by the sky and earth depicting the respect and sustainable link between humans and nature. The fine jewellery collection breathes life into this formidable and enduring connection, according to the jeweller. JNA 38 SEP 2018

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42 ADVERTORIAL BELPEARL expects solid demand for pearls Belpearl Auction is anticipating strong buyer response at its auction in Hong Kong. Buyers at a Belpearl Auction An expansive range of superior-quality pearls is taking centre stage at the Belpearl Auction in Hong Kong. The event, scheduled for September 17 to 20, will feature three Indonesian South Sea pearl producers, followed by those from the Philippines and Myanmar, Belpearl s Director of Business Development Michael Hajjar revealed. The company is likewise holding the Motupoe Auction, which will exclusively offer black South Sea pearls from producers from Tahiti. For the September auction, we are not only presenting harvests from our existing suppliers but also from new pearl dealers from Tahiti, noted Hajjar. Also on offer is the first production scale harvest from our very own Belpearl Myanmar farm. Natural brown Tahitian pearl from Rikitea Golden South Sea pearl lots Backed by more than 40 years of experience in the pearling industry, Belpearl Auctions provides estimation, professional grading and sales services through privately held pearl auctions. Hajjar further commented, Over the years, we have focused on providing our customers with a consistent source of well-sorted, high-quality pearls at competitive prices to ensure that both producers and traders can benefit from international market prices all within the confines of a transparent and reputable pearl auction. Belpearl Auctions is a major source of golden and white South Sea, and Tahitian pearls from producers across Myanmar, the Philippines, Indonesia, Tahiti and other destinations. JNA 40 SEP 2018

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46 SPECIAL FEATURES EMERGING MARKET set for further growth China, the world s biggest market for platinum jewellery, also leads global growth in demand for gold, diamond and coloured gemstone jewellery. According to a market study by the National Gemstone Testing Centre (NGTC), China s demand for diamond jewellery is estimated at 62 billion yuan (about US$9.7 billion), with a projected annual growth rate of 5 to 10 percent over the next five years. Despite the economic downturn in recent years, China remains one of the world s most lucrative jewellery markets, supported by a growing middle class and higher-income groups. The rise of millennials also provides new opportunities for investors from all regions. In 2017, China s total imports of polished diamonds reached 2.43 million carats, rising 32.8 percent from the previous year; in value terms, this amounted to US$2.515 billion, a 23.4 percent increase over This represented a record-high level of polished trading at the Shanghai Diamond Exchange (SDE), figures from SDE showed. While the total volume of diamonds traded at the exchange in 2017 was million carats, up 59.3 percent from the previous year, the value of diamond transactions reached US$5.344 billion, an increase of percent from As of December 31, 2017, SDE had 389 members, including 233 foreign members that accounted for 60 percent of the total. The world's major jewellery producer China s abundant supply of natural and human resources and its relatively competitive production costs have attracted local producers as well as investors from abroad to set up manufacturing facilities on the mainland to cover demand from both domestic and export markets. At present, China is a major source of freshwater pearls. The country also produces gold and a wide variety of natural coloured gemstones, accounting for a significant portion of global supply. With production facilities concentrated in the southern part of the country, cities such as Shenzhen and Guangzhou (particularly its Panyu district) in Guangdong Province have become major trading hubs for global jewellery players. Shenzhen According to the Shenzhen Gold & Jewelry Association, as of September 2017, the total value of jewellery manufacturing and processing in Shenzhen reached approximately 150 billion yuan (about US$23.4 billion), and the wholesale and retail trade volume was approximately 45 billion yuan (about US$7 billion). JNA 44 SEP 2018

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48 SPECIAL FEATURES Imports of polished diamonds at Shanghai Diamond Exchange (in US$100 million) Source: Shanghai Diamond Exchange AT A GLANCE Platinum Gold Diamonds Bridal market China is currently the world s biggest market for platinum jewellery, with annual consumption estimated at 1.5 million ounces, translating into about 12 million pieces of platinum jewellery a year China leads global consumption of gold for a fifth consecutive year in 2017 with an annual consumption of 1,089 tonnes, representing an increase of 9.4 percent from the previous year. Consumption of gold jewellery went up percent to tonnes while that of gold bars rose 7.28 percent to tonnes. On top of traditional plain gold items, gold jewellery manufacturers have recently been introducing more fashionable designs in 18-karat gold and marketing them as affordable luxury items for the growing young-consumer market, which is looking for fashionable and daily-wear jewellery Demand for diamonds in China is estimated at about 62 billion yuan (about US$9.7 billion), with a projected annual growth rate of 5 to 10 percent over the next five years Every year, over 11 million newlywed couples are recorded in mainland China, providing huge potential for the bridal jewellery segment Quick facts on Shenzhen s jewellery industry Registered jewellery companies >5,000 Individual business operators >15,000 Jewellery wholesale markets ~30 Workforce in the jewellery industry >150,000 Total value of jewellery production US$23.4 billion Wholesale & retail value US$7 billion Shenzhen-based companies outlook on the city s jewellery industry in 2018 Very Strong 23% Relatively Strong 47% Relatively Weak 20% Others 10% Pessimistic 0% Source: Shenzhen Gold & Jewelry Association JNA 46 SEP 2018

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50 LEGENDS CHIA TA S bejewelled treasures To Yu Chung-ta, founder and president of Chia Ta Jewellery Co Ltd, hunting for precious and rare gemstones from around the world is more than just business it s a passion. Inside Yu s treasure trove are exquisite pieces with breathtaking craftsmanship, masterpieces to delight collectors and connoisseurs. By Christie Dang Yu Chung-ta, founder and president of Chia Ta Jewellery Co Ltd Chia Ta Jewellery Co Ltd, renowned for its top-quality jadeite jewels, has been in the business of high-end jewellery for more than three decades. Its owner, Yu Chung-ta, is extremely experienced and adept at weathering the storms brought about by market shifts and economic turmoil. With the global economy entering the new normal, the jewellery industry has seen a sea change in recent years, he noted. Jewellers should however not lose sight of their vision and must remain committed to upholding exacting standards for their products and services. Challenges notwithstanding, growth is still possible so long as they keep track of the latest trends and make the right decisions at the right time, according to Yu. Providing high-quality products and services has always been a top priority for Chia Ta Jewellery. Founded by Yu in 1985, the company now has boutiques throughout Greater China, with the second generation of the family joining JNA 48 SEP 2018

51 LEGENDS Several connoisseurs of fine jadeites have also become avid collectors of other gemstones due to their popularity at auctions around the world in recent years, Yu remarked. These collectors are very discerning though. Only natural gemstones of the highest quality, which can prove to be good investments, would appeal to this group of buyers, he added. the business. With its latest store opening in Dalian, Chia Ta Jewellery s reach has extended to the northern China market outside Beijing. Yu believes demand is always strong for natural, topquality gemstones as these are hard to come by. The jewellery industry as a whole has not been left unscathed by the global economic downturn and the volatility of stock markets around the world. But the last few years have also seen rare gemstones and jewels fetch recordbreaking prices at auctions again and again, indicating that high-end jewellery continues to thrive despite economic uncertainties, he said. Jadeite in style High-end jadeite jewels are not just valuables to be kept in a safe. They are also fashionable and wearable creations as well as sensible investments, Yu said. The jeweller takes great pains to study every precious gemstone he acquires in order to come up with the finest design that brings out its best qualities and increases its value tremendously. A case in point is one of Chia Ta Jewellery s masterpieces, a splendid necklace in 18-karat gold with rubies and violet jadeites of exceptional texture and clarity that, along with its matching ring and earrings, allows the wearer to make a bold fashion statement. Colourful wonders While predominantly known for its stable supply of premium jadeites, Chia Ta Jewellery also provides a large selection of fine jewels crafted with coloured gemstones, including emeralds, unheated rubies and royal blue sapphires. Icy jade (jadeite of exceptional translucency) is increasingly being sought after, especially among Western customers. Many of them were first introduced to jadeite through icy jade and have become fascinated by the gem ever since. In Chia Ta Jewellery s collections, icy jade is combined with pink sapphires and fancy colour diamonds to produce trendy pieces that cater to younger customers. JNA 49 SEP 2018

52 LEGENDS BELMONT: 40 years of emerald excellence Brazilian emeralds have risen to become one of the most coveted gems in the world, rivalling their counterparts in colour, size, lustre and overall allure. By Bernardette Sto. Domingo Emerald mine in Brazil Emeralds are Brazil s invaluable contribution to the world of coloured gemstones. Desired for their fine bluishgreen to vivid green colour and high transparency, Brazilian emeralds are continuously sought after by gem collectors and dealers. At the forefront of the Brazilian emerald trade is Belmont Mine, which is celebrating its 40 th year in the business. Marcelo Ribeiro, director of Belmont Mine, said his company has taken on a leading role in the emerald mining and cutting sector as one of the most sophisticated emerald mines globally. We have been producing the best emeralds from our mine in Brazil for 40 years. It is the only mine in the world that is able to sustainably increase production every year. To do this, our company heavily invests in modern mining technology and geological exploration of new areas, remarked Ribeiro. JNA 50 SEP 2018

53 LEGENDS We have been producing the best emeralds from our mine in Brazil for 40 years. It is the only mine in the world that is able to sustainably increase production every year. To do this, our company heavily invests in modern mining technology and geological exploration of new areas. Unique market position As a mine-to-market emerald producer, Belmont Mine said it can guarantee better prices and access to top-grade stones for its clients because they are buying directly from the source. Belmont Mine s major markets are the US, Europe, Asia and Brazil. Our customers can place orders today and confidently come back to buy the same kind of stones at a similar price. This is important because they can embark on long-term marketing campaigns and be assured of a steady and consistent replacement of goods, noted Ribeiro. Belmont Mine also ensures that its emeralds come from a conflict-free source. According to the company official, Belmont Mine s fastest-moving products are fine-quality calibrated gemstones. Its exceptional single stones likewise have a strong following, particularly among major European brands. Majority of Brazilian emerald production comes from a huge concession that belongs to Belmont Emeralds, a company that has been investing in modern mining technology for 40 years. Brazilian emeralds are known for their eye-catching colour such as subtle to deep, brilliant green; wide variety of sizes as well as exceptional lustre. Apart from steady production, Belmont Mine is also highly recognised for its gemstone-cutting expertise, noted Ribeiro. Top-quality emeralds are mined from the Itabira/Nova Era belt in Minas Gerais. Itabira used to produce smallersized emeralds but with recent discoveries, it is gradually gaining popularity for premier-quality gemstones that could rival those produced in Colombia in the past. JNA 51 SEP 2018

54 LEGENDS Challenging future Top-quality emeralds have become even rarer, with the depletion of many mines around the world and the lack of investments in new mine exploration, revealed Ribeiro. Coupled with tightening supply is the market s incessant call for transparency and professionalism in the entire gemstone and jewellery production chain. Consumers nowadays clamour for information about the products that they are buying. They want to make sure that the gemstones were sourced ethically and responsibly, stated Ribeiro. They will not tolerate child labour, environmental destruction and terrorism financing. This poses a new challenge to the gemstone trade, noted the emerald specialist. Industry players need to show a new generation of buyers that the supply chain is transparent, conflict-free and environment-friendly. Belmont Mine, for its part, is locking its sights on further growth. Ribeiro expressed confidence that Belmont can continue to mine Itabira for the next 40 years as a result of past geological explorations. We will continue to provide our customers with a stable supply of fine-quality emeralds; top-of-theline gemstone cutting; and unparalleled mine-to-market services, he noted. We will keep investing in technology to carry out mining operations in a more efficient and economic manner as innovation is in our DNA. Investment pieces The emerald business remains stable despite lesser production and higher demand, disclosed Ribeiro. He cited a growing trend of customers who purchase emeralds as an investment tool since emerald prices have more than doubled in the last 10 years. Brazilian emeralds Another growth driver is a strong desire from jewellery brands and designers to use emeralds in combination with diamonds, he added. It s a stable gemstone to use in terms of pricing and availability. It also adds value and mystifying beauty to a jewellery piece, Ribeiro continued. Diamond and gold jewellery pieces are quite commoditised now and emeralds are used to inject uniqueness to the piece. He also cited a growing opportunity in China s coloured gemstone market. Chinese buyers special affinity for green is fuelling the demand for emeralds in the country, he added. Buyers are likewise increasingly becoming more professional and knowledgeable, which is crucial to the overall growth of the emerald trade. Underground emerald mine JNA 52 SEP 2018

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56 TRENDS & STYLES QUEEN of COLOURS With diamonds taking on a more traditional role in the world of fine jewellery, coloured gemstones stunning and captivating in their own right are injecting more zest and fire into jewellery designs. Dewcarat Ltd is leading a colourful design revolution that places rubies, emeralds, sapphires as well as peridots, natural turquoise and tanzanite stones, among other vibrant gems, into the limelight. Sapphire and topaz ring Turquoise and diamond ring Pamella Roland (Sam Aronov/Shutterstock.com) A pair of earrings with aquamarine stones JNA 54 SEP 2018

57 TRENDS & STYLES ADVERTORIAL Ruby and diamond earrings Emerald ring Bangle with baroque pearls, pink sapphires and diamonds Tadashi Shoji (FashionStock.com/Shutterstock.com) Ruby-studded ring Emerald and diamond earrings Tel: Fax: Website: Address: Unit 203, 2/F, Block A, Focal Industrial Centre, 21 Man Lok Street, Hung Hom, Kowloon, Hong Kong JNA 55 SEP 2018

58 TRENDS & STYLES Victor Mayer Red REBELLION Red s striking hue brings to mind passionate tales of love and chivalry. In the world of fine jewellery, vivacious red gemstones likewise infuse sensuality and fervour into bespoke jewellery pieces, juxtaposed with diamonds. Behold as this splendid collection gives justice to red s intense, enthralling reputation. Frieden Crivelli Jacob & Co Jewelry JNA 56 SEP 2018

59 TRENDS & STYLES Graff Alessio Boschi Larisa Lobanova (Review News/Shutterstock.com) Rivière JNA 57 SEP 2018

60 TRENDS & STYLES Blue PARADISE Harry Winston Calming yet empowering, blue is a regular fixture in the fashion and luxury world. Fine gemstones in different shades of blue meanwhile lend further credence to the colour s enduring appeal from elegant sapphires and palliative aquamarines to the incandescent Paraiba tourmaline. Charriol De Grisogono Tiffany JNA 58 SEP 2018

61 TRENDS & STYLES Min&ral Cartier Lola Casademunt (Catwalker/Shutterstock.com) Omi Privé JNA 59 SEP 2018

62 DESIGN Classic meets contemporary: ITALY S RISING JEWELLERY TRENDS With unparalleled craftsmanship and dedication to precision and quality, Italian jewellers are known to produce refined collections with a universal and enduring appeal. In this feature, TRENDVISION Jewellery + Forecasting examines key emerging trends in Italy s fine jewellery scene that are seen to filter through to the global sector. Independent trend forecasting research firm TRENDVISION Jewellery + Forecasting has identified six design trends in Italy that are permeating the world market. In this report, TRENDVISION delves into directional design themes for 2018 and 2019 through the analysis of trends and consumer behaviours that were prevalent at Vicenzaoro. According to the forecaster, diamonds and coloured gemstones figured extensively in jewellery pieces to create dazzling surfaces and silhouettes. Designs were highly influenced by nature but some aesthetic aspects were inspired by abstract concepts as well. A sense of old world charm melds seamlessly with modern designs with the clever use of gold and pearls. Subdued designs with a modern edge are taking precedence in 2018 and 2019, revealed TRENDVISION. JNA 60 SEP 2018

63 DESIGN DIAMOND CRUST Mimicking constellations in the sky, small diamond clusters are used to give the jewellery piece a crusty surface effect. At times paired with pearls, the pieces emanate an innovative and contemporary appeal. This design concept also recreates other abstract shapes such as fireworks, laces or lines. Designers conceptualise connected diamond silhouettes and surfaces that sparkle with brilliance. Silhouettes: Cluster or chandelier earrings, cocktail rings, necklaces Aesthetics: Celestial, modern, decorative Materials: Diamonds, white and rose gold, pearls ANCIENT ARTIFACT Museums and history books inspire designers to bring back an old world charm with a modern reinterpretation. Cameos, pearls and pavé-set gemstones radiate a vintage ambiance while irregular elements give the pieces a more fashionable touch. Designers merge historical references with innovative silhouettes to come up with one-of-a-kind pieces. Jewellery pieces under this design theme can be likened to souvenirs objects that bring to mind a memory of another place and time. Cultural elements from all over the world likewise inspired designers to use several motifs such as scarabs, paisley patterns, the Eye of Horus and historical buildings. Silhouettes: Open bracelets, bangle cuffs, rings, beaded necklaces Aesthetics: Vintage, historic, baroque Materials: Gold, baroque pearls, opals JNA 61 SEP 2018

64 DESIGN CHIC INDUSTRIAL Technology and tech-inspired trends resonate with today s consumers. Geometrical inspirations coupled with CAD/CAM and 3D-printing technology translate into three-dimensional jewellery pieces with overlapping, connected components. Architecture meanwhile inspires the use of open elements resulting in lightweight, three-dimensional pieces that bring out the unique beauty of gemstones. Silhouettes are simple while a more rigid, urban and edgier look is applied to earrings and bracelets. Silhouettes: Chunky rings, broad cuffs, necklaces Aesthetics: Edgy, contemporary, linear, futuristic Materials: White, yellow and rose gold; diamonds BLACK & WHITE Monochromatic and versatile, black and white patterns have an enduring appeal. This enigmatic duo adds drama and a youthful vibe to the jewellery piece. Interpreted in bold silhouettes, black and white are tantamount to modern sophistication. Thin, linear cutouts and structures create pinstripe effects as seen on international runways. 3D-printing technology provides designers with the ability to create very precise and symmetrical patterns as well as lightweight items. The results are unconventional, edgy jewellery pieces. Silhouettes: Cocktail rings, broad cuffs, assembled bracelets Aesthetics: Classic, bold, dramatic Materials: White gold, black rhodium, platinum, enamel JNA 62 SEP 2018

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66 DESIGN MYSTIC LIGHT Light opulent colours lend high jewellery pieces a fresh look. Graduated ombre and complementary shades and unexpected colour combinations transform jewellery items into fantasy pieces imbued with an otherworldly charm. Extensive use of stones such as opals with airy silhouettes that allow maximum light to pass through create bright yet muted effects. Pinks, purples and blues surrounded by delicate details figure a lot in this design trend. Silhouettes: Cocktail rings, hoops, long earrings, bangles Aesthetics: Whimsical, colourful, light Materials: Exotic gems, yellow and rose gold SHINY NATURE Flora and fauna are the central themes in this design trend. Designers translate elements of nature to jewellery pieces with pavéd surfaces of coloured gemstones and diamonds. Each piece becomes a glittering replica of nature s exotic beauty. Every piece is a high-end representation of motifs like flowers and leaves with sparkling surfaces. Coloured gemstones are set in high polish to maximise the brilliance. The pieces are anything but simple. Silhouettes: Cocktail rings, pendants, cuffs, chokers Aesthetics: Dramatic, exotic, surreal Materials: Rose and yellow gold, coloured gemstones About TRENDVISION J+F: Headed by Director and Founder Paola De Luca, TRENDVISION Jewellery + Forecasting is VICENZAORO s independent trend forecasting research observatory specialising in the jewellery, watch, diamond and luxury sectors. This think tank methodically researches and tracks socio-cultural trends and connections in the jewellery and luxury industries while decoding consumer attitudes, and disseminating information and analysis. JNA 64 SEP 2018

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68 DESIGN THE SURREAL ARTISTRY OF RUSSIA Russian jeweller Sasonko presents an ethereal collection of rings, bracelets and necklaces that speak volumes of the country s endearing romanticism. The jewellery pieces embellished with diamonds and coloured gemstones are an ode to Russian music, religion and literature. By Bernardette Sto. Domingo Ballet Premiere necklace with diamonds and an aquamarine centre stone One of the pillars of Russia s enchanting history is classical ballet. Just as Russia successfully conquered this arena, the country s jewellers are indubitably making strides in the global fine jewellery sector as well. Konstantin Butkevich of Sasonko Jewellery House sat down with JNA to talk about the company s design philosophies and long-term goals. Dance of diamonds A recurring theme in Sasonko s brand aptly named Ballet is a bejewelled tutu reinterpreted in intricate metalwork. Carefully crafted to replicate a ballerina s graceful demeanour and undulating dance movements, the jewellery pieces are adorned with diamonds and coloured gemstones. JNA 66 SEP 2018

69 DESIGN Mihail Chemiakin earrings Sasonko s two other major brands, Mihail Chemiakin and Vladimir Mikhailov, likewise pay homage to Russia s art scene, according to Butkevich, head of the company s international business development. Chemiakin, a celebrated Russian artist, painter and stage designer, inspired jewellery pieces and collectibles under his namesake collection. Launched in 2016, Sasonko s Mihail Chemiakin line features elements from two famous ballets Magic Nut by Sergei Slonimsky and The Nutcracker by Pyotr Tchaikovsky. We ve conceptualised jewellery designs based on a new production of The Nutcracker, held in the historical Mariinsky Theatre in 2001, which Chemiakin designed. You ll find in this collection a rich assortment of jewellery pieces resembling characters, costumes and settings used in Chemiakin s work, revealed Butkevich. The Vladimir Mikhailov brand, meanwhile, features orthodox jewellery pieces designed by Russian artist and jewellery designer Vladimir Mikhailov. Fine designs Established in 1999, family-owned Sasonko runs its own manufacturing facility in St. Petersburg with a team of skilled jewellers and designers. According to Butkevich, the Ballet Collection is available in three lines Ballet Premiere, Ballet Cocktail and Ballet Concept. Premiere features 18-karat white gold jewellery pieces adorned with diamonds and coloured gemstones while Cocktail is composed of 18-karat yellow gold pieces, primarily with coloured gemstones and enamel. A more affordable line, Concept, is aimed at younger audiences. The jewellery pieces are in silver and come in more contemporary designs. Coloured gemstones such as aquamarine, opal, topaz, sapphire, emerald and amethyst, among others, as well as enamel figure a lot in Sasonko s collections. All our designs are quite exceptional, which is our biggest advantage on top of product quality, noted Butkevich. The company currently has 29 showrooms in Russia and two in Europe. In 2017, Sasonko exhibited in Hong Kong for the first time, marking the jeweller s expansion in the Asian market. We are already selling in Japan, Taiwan and Hong Kong, and judging from consumer interest in Asia, we want to further intensify our presence in this region, the company official continued. The US market is likewise another potential business destination, he added. The Ballet Cocktail collection, composed of colourful pieces with tourmalines and tanzanite stones, among others, is highly popular among Chinese buyers while Japanese clients are partial to Chemiakin pieces because of their exclusivity and uniqueness, revealed Butkevich. Europeans, for their part, mainly go for Ballet Concept pieces as well as orthodox jewellery items. Moving forward, Sasonko will continue to offer refreshing and different design options for the market so we are quite optimistic about the future of our business. We are growing fast and gaining popularity in Russia and beyond, Butkevich noted. Our main goal is to expand globally while maintaining the high quality of our products and services. Gold and diamond necklace with a crucifix pendant designed by Vladimir Mikhailov Ballet Concept emerald ring JNA 67 SEP 2018

70 DESIGN JNA JEWELLERY DESIGN COMPETITION 2018/19 REVEALS PANEL OF JUDGES The JNA Jewellery Design Competition 2018/19 has announced its prestigious panel of judges comprising distinguished luminaries in the fields of design, jewellery and the arts. Bradley Theodore Ida Wong Christie Dang Hidetaka Dobashi Fei Liu Suzanne Wong Robert Tateossian Organised by JNA of UBM Asia and sponsored by Crossfor Co Ltd, Platinum Guild International (PGI) and the Tahitian Pearl Association Hong Kong (TPAHK), the JNA Jewellery Design Competition 2018/19 aims to foster creativity and innovation in jewellery design. The independent judging panel of the competition's inaugural edition consists of highly respected, esteemed leaders from the jewellery industry and the arts, chosen for their extensive knowledge and expertise. They will run a two-part thorough, fair, transparent and rigorous judging process. Entries will be evaluated on their adherence to the theme, originality, creativity, aesthetics and market potential. The judging panel is chaired by renowned jewellery designer Fei Liu who earned the coveted UKJA Designer of the Year award in 2016 and was named Designer of the Year by China's Harper's Bazaar in 2012 through his passion for jewellery and his commercial nous. He is joined by Robert Tateossian, founder of the Tateossian London brand; New York-based visual artist Bradley Theodore; Christie Dang, publisher and editor-in-chief of the JNA group of publications; and a market insider from each category. Here are the judges for the JNA Jewellery Design Competition 2018/19. JNA 68 SEP 2018

71 DESIGN Chairman Fei Liu Fei Liu, founder and designer of Fei Liu Fine Jewellery, graduated from the internationally renowned Birmingham School of Jewellery. After graduation, he worked in the trade for a well-known Italian jeweller. Taking all he had learned, Liu founded his eponymous brand in 2006, creating pieces with East-meets-West influences. Liu's jewellery is sold in over 155 boutiques around the world, including the UK, Germany and China. Judge Bradley Theodore Born in Turks & Caicos, New York City-based Bradley Theodore began his fascinating career by adorning the city's streets with vibrant, chromatic murals depicting contemporary pop culture and fashion "royalty" in his signature skeletal style. The multi-disciplinary artist's body of work includes distinctive, colourful portraits of Queen Elizabeth, George Washington and fashion giants Anna Wintour and Karl Lagerfeld. His life and unique artistic perspective were the subject of the independent film, "Becoming: Bradley Theodore," which premiered at the 2016 Tribeca Film Festival. Theodore has held numerous critically acclaimed solo exhibitions around the world and collaborated with several iconic brands. Judge Robert Tateossian From city financier to jewellery designer, Robert Tateossian founded his eponymous brand in 1990 to offer men and women a distinctive way to express their personality and style. Widely recognised as the "King of Cufflinks" due to his successful range of cufflinks, he often draws on his internal upbringing, love of luxury and travel in creating innovative and unique pieces of uncompromising quality. The Tateossian brand has won the UK British Export Award for Accessories three times. Many of its signature elements reflect Robert's own appreciation of mechanism, aesthetics and the unconventional, delivering distinctive yet wearable pieces. Judge Christie Dang Recognised for her dedication, professionalism and passion for the jewellery and gemstone industry, Christie Dang has been with UBM Asia's Jewellery Media Group (formerly known as Jewellery Publishing Group) since She has travelled the world to report on the latest and most pressing developments in the gemstone and jewellery trade, from the opportunities and challenges presented by emerging markets such as mainland China to the latest technology innovations and design trends impacting the global jewellery industry. For more than 20 years, she has lead CJNA, one of the most influential jewellery publications in the Greater China region. In August 2017, she was promoted to publisher and editorin-chief of the JNA group of publications. Tahitian Pearl Category Judge Ida Wong Ida Wong is the general manager of the TPAHK. With over 15 years of marketing and jewellery promotion experience, she has been actively promoting Tahitian pearls by initiating sponsorships and other marketing campaigns, thereby contributing to greater awareness of the gem among designers, wholesalers, retailers and consumers. Wong's vast knowledge of Tahitian pearls has made her a much sought-after judge, adviser and/ or committee member of international jewellery design competitions. Dancing Stone Category Judge Hidetaka Dobashi Gemmologist Hidetaka Dobashi founded Dobashi Jewelry Trading in 1980 and Shibado Co Ltd in In 1999, he established Crossfor Co Ltd. Two years later, he obtained the patent for the Crossfor Cut, a unique technique to enhance diamond brilliance through 46 facets. Growing from strength to strength over the years, Crossfor Co Ltd again broke new ground in jewellery manufacturing in 2011 with the launch of the patented "Dancing Stone" technology, a mechanism that sets a centre stone in constant motion. Dobashi's unrelenting passion for innovation, business acumen and inspired leadership continue to catapult Crossfor Co Ltd to greater heights. The company was listed on the Tokyo Stock Exchange (JASDAQ) in Platinum Category Judge Suzanne Wong Suzanne Wong, senior product manager of PGI, is committed to fostering creativity and innovation in the platinum jewellery segment. With over 25 years of experience in the jewellery industry, working with renowned jewellery brands and leading retailers in China, she is an expert on design, R&D and market strategy. Wong harnesses her product development expertise and her GIA Gemologist, Diamonds and Colored Stones diplomas towards the development of innovative jewellery designs in platinum. The judges will determine the 15 finalists of the competition and announce these in the middle of January For more details, please visit JNA 69 SEP 2018

72 INSIGHT CHALLENGES AND IDENTITY: Synthetic vs natural diamonds The battle lines are drawn between synthetic and natural diamonds, with neither conceding much as new developments and regulations in the trade win each side small victories instead of definitive gains. The rivalry plays out in product, price and positioning, with synthetic and mined players out to challenge the status quo. By Julius Zheng Developments in the diamond industry these last few months are creating monumental shifts with global ramifications on the identity and image of synthetic and mined stones. De Beers Group and the Federal Trade Commission (FTC) of the US both made surprising turns that sent shockwaves through the diamond jewellery industry. The rivalry between synthetic and mined diamonds came to a head with the May 29 announcement of De Beers Group on the launch of its Lightbox brand of laboratory-grown diamond jewellery in September (see JNA, July 2018). The implications of the Lightbox launch are significant. First, De Beers one of the largest natural diamond producers and a key member of the Diamond Producers Association (DPA) is introducing a synthetic diamond product line. Second, De Beers classified its new brand as fashion jewellery, not wedding jewellery. Third, Lightbox s pricing structure is different and lower than current market prices. NGTC s DV-5000 testing device for detecting synthetic diamonds (Picture courtesy of Shenzhen Rough Diamond Exchange) JNA 70 SEP 2018

73 INSIGHT Identity and identification The Lightbox announcement once again brought to the fore the issue of nomenclature. De Beers move was a clear attempt to define laboratory-grown diamonds on its own terms. The product has been going by many names synthetic, laboratory-grown, manmade, and created, among others. The Gemological Institute of America (GIA) defines a Synthetic Diamond as manmade, the result of a technological process, as opposed to the geological process that creates natural diamonds. Synthetic diamonds have essentially the same chemical composition, crystal structure, optical and physical properties of diamonds found in nature. Most synthetic diamonds are either High-Pressure, High-Temperature (HPHT) or Chemical Vapour Deposition (CVD) diamonds, depending on the method of their production. Since HPHT and CVD diamonds are virtually identical to natural diamonds, differences only become clear when they are viewed by a trained grader in a gem laboratory. Last year, nine leading diamond organisations developed the Diamond Terminology Guideline. This stipulated that a diamond is natural by definition hence mined, natural stones do not require qualifiers. Specific qualifiers synthetic, laboratory-grown or laboratory-created must be used when referring to synthetic diamonds. This collaborative effort was however upended in July by FTC s revised jewellery guidelines, which removed the previously specified natural origin from the definition of a diamond and expanded the latter to include those grown in a laboratory. The word diamond could thus be used for both natural and synthetic stones. Sellers however must still disclose whether a diamond is natural or laboratory-grown. Jwaneng Mine in Botswana (Picture courtesy of the Diamond Producers Association) In response, the DPA said it understood the basis for the decision but was concerned that it will be exploited by manmade diamond marketers, who may feel they can use the term diamond without properly qualifying it, leading to more consumer confusion and deception. The DPA s stand has merit indeed. First of all, a diamond is a gemstone, and a gemstone should be beautiful, rare and durable. Synthetic diamonds, for their part, are industrial products. The FTC ruling places rare gemstones and not-so-rare industrial products under one name, which essentially defies clarification. Secondly, since nomenclatures such as ruby, sapphire and emerald imply a natural origin, so should a diamond. JNA 71 SEP 2018

74 INSIGHT Natural rough diamonds from Rio Tinto s Argyle Mine in Australia (Picture courtesy of the Diamond Producers Association); Lightbox collaterals at the Las Vegas McCarran International Airport a day prior to JCK Las Vegas (Picture by Julius Zheng) Regulation matters and the long con The synthetic vs natural diamond conundrum has far-reaching implications for the diamond industry. India s diamond sector is seeking government monitoring of the trade in synthetic diamond rough. At present, the country s imports of the product cannot be tracked since there is no Harmonised System (HS) Code the international nomenclature to classify traded products for rough synthetic diamonds. Neither the Gem & Jewellery Export Promotion Council (GJEPC) nor the Indian government can ascertain the amount and carat weight of such imports, as the data is combined with other synthetic gemstones and natural coloured gemstones. In 2016, the Indian government allotted an HS Code for polished synthetic diamonds, but supervision of rough synthetic diamonds remains the missing link. In February 2018, GJEPC urged the Indian government to allocate an HS Code for synthetic diamond rough. An HS Code would allow segregation of natural and synthetic pipelines, which can be monitored so that illicit mixing becomes virtually impossible, said GJEPC Chairman Pramod Agrawal. This is a global problem. According to a synthetic diamond producer in China, apart from the portion to be polished in China, the rest of its synthetic rough is sold to diamond manufacturers from India. It is shipped to Surat for polishing before being sold to any major market it could most likely make its way back to China, the world s second largest diamond consumer. Polished synthetic diamonds are valid products in their own right. The problem arises when they are misrepresented as natural diamonds purposely or unknowingly down the supply chain. Melee parcels are particularly problematic, with greater chances of mixing natural and synthetic diamonds. Further along the supply chain, manufacturers may mount the diamonds into the jewellery pieces. A single synthetic diamond melee out of 100 stones in a micropavé setting is all it takes to ruin the entire piece and, more importantly, erode consumer confidence. Production boom To support Lightbox, De Beers Group is investing US$94 million over four years in a new Element Six synthetic diamond production facility near Portland, Oregon, in addition to its existing facilities in UK. Once fully operational, the plant can produce over half a million carats of rough synthetic diamonds a year. China does not have large-scale diamond mining like Botswana, Russia and Canada, but it is a prominent synthetic diamond producer, with facilities concentrated mainly in Henan Province. Zhengzhou Sino-Crystal Diamond Co Ltd, a major synthetic diamond producer, reportedly raised US$705 million in November 2016 for a new production project with an annual capacity of 7 million carats of gem-quality synthetic rough. An August 2016 Morgan Stanley research forecast a 15 percent market share for synthetic diamonds in gem-quality melee diamonds and a 7.5 percent share in sales of larger diamonds by 2020, thereby challenging the US$14 billion rough diamond market. JNA 72 SEP 2018

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76 INSIGHT GIA's id100 gem testing device Diama ear studs in 18-karat white gold with a total of 0.27 carat of Swarovski Created Diamonds (Picture courtesy of Diama) Compare and contrast Prices and positioning also see synthetic and natural diamond players at opposite ends of the spectrum. Synthetic diamond companies traditionally peg their prices at a discount, sometimes of 30 percent, off natural diamond rates. The rationale is that the production cost of synthetic diamonds is around 30 percent less than for natural diamonds. As industrial products though, synthetic diamonds are not as scarce as natural diamonds. Factories can adjust capacity according to demand. On the other hand, natural diamond mines have limited lifespans and are contingent on natural resources. Synthetic diamonds may look like natural stones but are not as valuable and hence should not be priced at a discount of natural goods. Jewellery giants, De Beers Group and Swarovski, are redefining pricing norms in the lab-grown diamond market with their respective ventures. Diama by Swarovski and Lightbox by De Beers are both setting new pricing standards. Launched in 2016, Diama offers Swarovski Created Diamonds set in 18-karat gold at retail prices from US$595. Lightbox charges US$200 per quarter-carat synthetic diamond, and US$100 and US$200 for silver and gold settings respectively. Information campaigns are also a battleground. DPA affirms the authenticity and intrinsic value of mined diamonds through its slogan, Real is rare. Real is a diamond. Synthetic diamond retailers, for their part, often promote their products as environmentally friendly, conflict-free and sustainable substitutes for natural diamonds. Swarovski is adamant that synthetic diamonds are 100 percent diamonds, saying, Created diamonds are identical to mined diamonds according to their optical, physical and chemical properties. Both are 100 percent carbon, both have the same hardness, brilliance and fire both are forever. They are diamonds with all of the essential qualities of a diamond, only the origin is a laboratory, not the earth. Just as a greenhouse grown orchid is identical to one found in nature. The C.V.D. principle The synthetic vs natural diamond storm will continue to brew. Navigating these turbulent times requires not a new CVD business but a C.V.D. principle. C. for Certification Due to the difficulty of identifying synthetic diamonds, rely on reputable gem laboratories for their certification. Beware of certificates from small laboratories that may skip certain tests such as the origin or colour. The World Federation of Diamond Bourses has a World Diamond Mark programme to certify natural diamond retailers. V. for Verification Verify the goods you buy to match the description; verify the certificates you obtain to be authentic; verify the diamonds to match the certificates; and verify your testing equipments to be reliable. Most of all, verify that your supplier is being honest with you. Beware of unrealistic prices for natural diamonds. Easy-to-understand certificates and transparent pricing once allowed the trade to buy and sell goods with minimal diamond knowledge. Gemmological training and expertise are now once again required to tackle the infiltration of synthetics in melees, fake certificates, and real certificates with deliberately mismatched stones. D. for Disclosure Always disclose information on your goods to your clients and to consumers, and ask your supplier to be just as honest with you. Synthetic diamonds are an emerging and valid business. The key is full disclosure of the goods and their realities. About the author Julius Zheng is the Director and Vice President of the Shenzhen Rough Diamond Exchange. Actively engaged in industry matters, he has developed various projects that connect China s diamond and jewellery sectors with international markets. Formerly General Manager of Rapaport China, he has over 20 years experience in the international diamond and jewellery industry. JNA 74 SEP 2018

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78 INTELLIGENCE ENCHANTED BY EMERALDS Emeralds continue to command attention in the international coloured gemstone industry, thanks to their immense value and historic charm. Modern buyers, meanwhile, are now more receptive to other sources of emeralds as quality becomes a key buying factor along with provenance. By Bernardette Sto. Domingo Colombian emeralds with a total weight of carats from Emco Gem Inc Emeralds enjoy a solid reputation in the coloured gemstone industry as one of the most coveted among connoisseurs and traders. A vibrant green colour akin to nature s lush forests, and symbolic of hope and fresh beginnings is the emerald s defining factor. Provenance is likewise a huge consideration among buyers, according to Michael Haag, director of ColEmerald Ltd. Colombian emeralds have always been the most sought after by the market. Size is another attractive trait Colombian emeralds come in big sizes, noted Haag. Their intense and vivid green colour is also incomparable. The company official said demand for emeralds has been on the upward trend in the first half of 2018 compared to Particularly favoured were stones of 10 carats and up in medium to good quality. He traced the growth to Asia, especially Hong Kong, Malaysia, Singapore and mainland China. Among the fastest-moving were emeralds of 3 carats to 5 carats with minor treatment and good colour, and cost US$2,000 to US$3,000 a carat. Emeralds of 10 carats to 15 carats that sell for US$3,000 to US$4,000 per carat were also popular, noted Haag. Higher demand meanwhile meant continuous increase in the prices of Colombian emeralds. The supply situation in Colombia has likewise worsened compared to last year as only a few locations are producing rough, but not regularly, he added. JNA 76 SEP 2018

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80 INTELLIGENCE It s all about quality now, depending on what a customer wants. There s no rule; it boils down to what the buyer is looking for and if supply is there. At the end of the day, everyone wants a beautiful stone. It s an emotional purchase. Oren Nhaissi, Emco Gem Inc ColEmerald will continue supplying the market with single stones and matching pairs of 1 carat to 6 carats. We also expanded our inventory to include emeralds between 10 carats and 25 carats in size, Haag continued. Whenever available, we will stock mediumto nice-quality cabochons from Colombia. We are also looking at a new deposit in Ethiopia. Gemstone cutting at Emco Gem Inc Shlomo Eshed, managing director at Gemerald Ltd, reinforced this trend, saying that Zambian emeralds have taken a more prominent role in the past year on the back of stronger consumer interest. Overall, market demand in the recent quarter has increased for higher-end goods and top-quality cutting, driving industry performance for the last two quarters of 2018, noted Eshed. The most sought-after products were emerald- and cushion-cut stones, he added. Zambian emeralds Today s buyers have become more receptive to emeralds from other geographic origins, revealed Irfan Takat, director of emerald dealer Takat Gems (HK) Co. Equally enchanting emeralds from Zambia are steadily gaining favour among global buyers mainly due to their striking colours, natural beauty and consistent supply, continued Irfan. Italy and China are the most ardent buyers of Takat s Zambian emeralds. Takat has been in the Italian market for 20 years, according to Irfan. There s also demand for Zambian emeralds in the US, which the company is planning to explore in the future. Prices, added Irfan, are also stable while supply remains steady. At the moment, all product types across all sizes and shapes, are selling. Our commercial goods sell for US$20 to US$50 per carat while higher-range products are priced more than US$500 per carat. We offer a wide range of stocks, Irfan said. While business in 2018 was slower compared to 2017, the company official said the second half of the year and 2019 appear more promising as markets worldwide recover from the recession. Irfan Takat of Takat Gems (HK) Co JNA 78 SEP 2018

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82 INTELLIGENCE A wide variety of emerald shapes and sizes from LRS Gems Ltd Emeralds are a complimentary product to diamonds in their essence. Thus, they are even more susceptible to income fluctuations than diamonds. In recent years, disposable income has increased in China and Eastern Europe, boosting market demand in these regions. The Asian market is continuously growing, revealed the company official. With sources becoming scarce amid solid demand, emerald prices are also on the rise, he continued. Jain Divya of emerald dealer LRS Gems Ltd also believes that buyers are increasingly becoming more open to other emerald sources. There s a shortage in supply of Colombian stones and buyers are looking at more affordable but similarly stunning alternatives. Price and preference are also important considerations for buyers, noted Divya. The company offers a wide range of emeralds from Colombia, Zambia and Ethiopia in drops, beads, fine layouts, calibrations, rounds or diamond cuts. Colombian emeralds have always been the fastest moving for us but calibrated Zambian stones are rising in popularity because they are readily available and the prices are competitive, stated Divya. LRS major markets are the US, Europe and China. Sophisticated buyers Modern consumers are now placing greater importance on quality when buying emeralds, according to Oren Nhaissi, managing director of New York-based Colombian emerald dealer Emco Gem Inc. All About Emeralds Mineral Chemistry Colour Beryl Data from the Gemological Institute of America Be3Al2Si6O18 Vibrant green Refractive Index to Birefringence to Specific Gravity 2.72 Mohs Hardness 7.5 to 8 He cited robust demand for both commercial and fine stones, fuelled by the US, Asia and Europe. It s all about quality now, depending on what a customer wants. There s no rule; it boils down to what the buyer is looking for and if supply is there, noted Nhaissi. At the end of the day, everyone wants a beautiful stone. It s an emotional purchase. With emeralds, buyers have the liberty to choose among a palette of green hues to their liking be it a faint leaf green; a rich, dewy green; or something in between, Nhaissi commented. Emco Gem, which has been in the business for more than two decades, sells high-quality Colombian emeralds. It has offices in Bogota, New York and Hong Kong. JNA 80 SEP 2018

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84 INTELLIGENCE SOPHISTICATED SAPPHIRES Sapphires continue to captivate the market with their alluring depths of colour and suitability for jewellery and personal collections. Demand remains robust for the gem, with good-quality sapphires of smaller sizes moving particularly well in the market. By Olivia Quiniquini Arguably the more accessible and attainable of the precious stone triumvirate, the scintillating sapphire is consistently a market favourite, leading demand among blue coloured gemstones. Demand for sapphires continues to be robust as blue remains a colour for all seasons and the coloured stone s exceptional qualities keep jewellers and dealers enamoured with the gem. Mehul Patel, managing director of Krish Creations Co Ltd, cited sapphires rich and deep colours, hardness, clarity and lustre as their most attractive qualities. Interest in the gem, particularly good- and top-quality stones, remains strong, with the market welcoming sapphires of all origins and natures, he noted. Kashmir and Burmese sapphires are higher in value, followed by those from Sri Lanka and Madagascar. Very little however separates the nice-quality stones from the latter two origins. These two sources provide the sapphires for day-to-day business, Patel said. While no-heat sapphires remain highly desirable due to their scarcity and unparalleled quality, heated stones are widely accepted in the market, especially among jewellery manufacturers seeking stable and consistent supply for production, he commented. JNA 82 SEP 2018

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86 INTELLIGENCE Smaller goods Calibrated sapphires and single stones below 5 carats are currently Krish Creations fast movers, according to Patel. The market has become quite conservative in recent years. Buyers avoid spending too much on a single stone. They would rather have invoices of US$8,000 to US$15,000 per stone than spend upwards of US$30,000 on a single gem. The market now seeks goods that it can sell. Calibrated stones are our bread and butter, explained the company official. Kashmir and Burmese sapphires are higher in value, followed by Sri Lanka and Madagascar. Very little however separates the nice-quality stones from the latter two origins. These two sources provide the sapphires for dayto-day business. Mehul Patel, Krish Creations Co Ltd Sapphires from Krish Creations Co Ltd Rounds, ovals and pear-shaped sapphires are readily snapped up by buyers, he disclosed. Diamond cuts are likewise popular, with princess cuts being particularly sought after. Krish Creations specialises in finer-quality rubies and sapphires ranging from 5 points to 15 carats. Aside from its fine calibrated goods and single stones, it offers layouts of top-quality, certified, heated and unheated rubies and sapphires. Among its latest showstoppers is an exclusive layout of certified, unheated octagonshaped sapphires from Burma, Patel said. Jewellery manufacturers from Hong Kong, Malaysia and Indonesia, and gemstone dealers from the US, Italy, Germany and the UK constitute Krish Creations client base. According to Patel, demand has been generally steady this year, with most markets leaning towards sapphires of 1 carat to 5 carats. Hong Kong jewellers, perhaps due to their overreliance on a softening mainland Chinese market, have however been less active of late, he added. Pongkarn Salapornchai, brand manager of SVD Gems Co Ltd, agreed that China, the company s top market, has undergone substantial changes in recent years. Instead of the big single stones they used to favour, Chinese buyers now gravitate towards smaller goods. Chinese buyers once preferred coloured gemstones of 5 carats and up. They now ask for heated and unheated sapphires from Sri Lanka of 3 carats to 5 carats, with the ovals moving especially fast. But though the market has shifted towards smaller goods, it has not compromised its standards and continues to ask for good-quality stones, Salapornchai disclosed. And while prices of sapphires increase on a nearly daily basis due to supply constraints in select categories, the market is willing to pay these premiums, he continued. Despite price hikes, calibrated sizes sell really well. These are regular orders for our company, he added. Wanchai and Phatipan Eakthongchai of Milin Triple B Co Ltd JNA 84 SEP 2018

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88 INTELLIGENCE Heated demand Milin Triple B Co Ltd is likewise seeing strong demand for its inventory of heated sapphires, according to co-owner Phatipan Eakthongchai. Fashion trends and the perennial popularity of the colour blue in design and jewellery circles have led to solid sales of the company s heated sapphires in calibrated sizes and up to 5 carats. Sapphires move well in the Chinese market. Oval stones are particularly sought after. Demand is strongest for our top-quality sapphires, but our mid-range goods can also sell. Chinese buyers now go for smaller sizes so they can produce more affordable jewellery pieces, he said. Eakthongchai described business this year as relatively stable and at par with the last two to three years. While China accounts for the bulk of its business, the corundum specialist has also been making inroads in the US market. Colombo Gemstones & Jewellery (Pvt) Ltd, which focuses on heated blue sapphires from 2 carats and up, is enjoying growth this year. According to Rumaiz Ishak, director of the Sri Lankan sapphire manufacturer and dealer, business so far in 2018 has improved over the previous year on the back of solid results from the US and China. These markets are extremely particular about the quality and the colour of the stones they purchase, he added. Sapphires of 2 carats to 5 carats are always in high demand. Gemstone dealers from the US, our main clients, tend to ask for rounds and emerald cuts. They are not buying the heavy stones; they are after nice shapes. Meanwhile, customers from China are always partial to clean stones, Ishak revealed. Market initiatives Colombo Gemstones aims to expand its business by tapping high-end jewellery manufacturers to supplement its existing orders from gemstone dealers. Spectrum of Sapphires Mineral Chemistry Colour Data from the Gemological Institute of America Corundum Al2O3 Every colour but red Refractive Index to Birefringence to Specific Gravity 4.00 Mohs Hardness 9 Our expertise lies in top-quality merchandise in the finer colours such as royal blue and cornflower blue. But since some clients ask for medium-quality stones, we maintain stocks of these as well. We pride ourselves on our cuts, which give us an edge in the market. We constantly aim at producing perfect cuts even if we lose a lot of weight, Ishak said. Milin Triple B, for its part, intends to further tailor its production to market needs, given its clients penchant of late to buy top-quality coloured gemstones in smaller sizes. There is a shortage of small-sized rubies and sapphires. Our production currently ranges from topto medium-quality stones, but the market is always asking for the best goods. It is a challenge for everyone because it is hard to get these stones. We therefore intend to focus our production on those goods that enjoy strong demand top- and good-quality stones in smaller sizes, remarked Eakthongchai. Krish Creations Patel concurred, pointing to supply shortages for better-quality goods. The competition is more on the supply side it is more difficult to find the stone than to sell it. That is where the struggle lies. But once you have the good-quality stones, you won t lack for a buyer at all, he said. Erratum: The entry on Colour in the table was mistakenly translated into Chinese as " multicoloured, mostly red" instead of " every colour but red" in this sapphire story published in Gemsworld 2018/19. We regret any inconvenience caused. JNA 86 SEP 2018

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90 INTELLIGENCE RESPLENDENT RUBIES The ruby s formidable status in the realm of gemstones remains unchallenged to this day. Unrivalled in colour, fluorescence and stability, the ruby has proven itself worthy of the title the King of Gemstones or Ratnaraj in ancient Sanskrit. By Bernardette Sto. Domingo Top-quality rubies from Veerasak Gems Co Ltd Fiery red rubies continue to dazzle gemstone dealers and collectors alike. For centuries, this beloved red gemstone has adorned crown jewels and highly sought-after fine jewellery pieces, infusing a sense of nobility and romance from the past. The most revered of rubies hail from Burma, now known as Myanmar, because of their solid, vibrant red hues. There is however a scarcity of large, top-quality Burmese rubies in the market despite sturdy demand, Phuket Khunaprapakorn, president of Thailand-based gemstone trader Gemburi Co Ltd, said. Buyers are turning to rubies from Mozambique, which are comparably impressive and competitively priced, he added. We saw an increase in demand for smaller-sized, calibrated stones across all qualities. Demand for nice-quality stones of 3 carats and up is highest because these are becoming even rarer due to diminishing supply, revealed Khunaprapakorn. In terms of origin, rubies from Burma and Mozambique are both popular. Mozambique rubies are sought after because the supply is more consistent, making it more practical for customers to place regular orders. Burmese rubies meanwhile remain highly favoured because of their rarity and gemmological pedigree, the company official said. JNA 88 SEP 2018

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92 INTELLIGENCE Emerging markets According to Khunaprapakorn, the Chinese market is the major source of growth, specifically for Mozambique rubies, which are more accepted now by buyers. Veeraya Trirotanan of Veerasak Gems Co Ltd, reiterated this sentiment, saying that Asia, China in particular, is fuelling steady business in the ruby market. Rubies however are also attracting buyers from other countries, which are crucial to the overall growth of the industry. Veerasak mainly sells to the Middle East, Asia, Europe and the US. Demand for rubies is never absent. We focus on rubies from Mozambique and Burma these are two of the most important sources of rubies today, remarked Trirotanan. She also cited buyers varying preferences. The Chinese market, for instance, is after high-quality rubies possessing a deep, vivid red colour of 1 carat to 2 carats while European clients want a more subdued red in myriad sizes, depending on the jewellery they are producing. Discerning buyers Alexandre Hahn, director of coloured gemstone specialist Gerhard Hahn, cited an increasingly sophisticated type of customers who are willing to invest in top-grade rubies because they recognise the stones value. The market is constantly on the lookout for premiumquality Burmese rubies of 5 carats to 10 carats. That s a good benchmark of what people are looking for. People have the money and they are willing to spend it but they are quite discerning; they use their money wisely, noted Hahn. The problem is, these stones are scarcely available in the market. The company offers both Mozambique and Burmese rubies but is more focused on the latter. These however are hard to source now; it s an extremely rare stone, especially very fine single stones, which are attractive to Asian buyers, he added. Unheated Mozambique ruby from Gemburi Co Ltd Ruby and diamond ring by Gerhard Hahn Gerhard Hahn s major markets are Europe, Asia and Russia, which is making a comeback in the gemstone sector. There s a strong demand from Russia for nice gemstones; people have an idea of what they want. This is absolutely a welcome development in the trade, noted Hahn. At the June Hong Kong Jewellery & Gem Fair, buyers mainly sought fine-quality unheated rubies of 3 carats to 10 carats from Mozambique and Burma, the company executive said. Yin Chin, director of Myanmar Royal Gems Co Ltd, echoed the supply problem, adding that rubies in existing inventories pale in comparison to the quality of production four to five years ago. Demand however remains solid. At the June show, the most popular ruby shapes were round, cushion and oval. In terms of sizes, clients preferred 2-carat to 3-carat rubies for rings. Buyers asked for 5-carat stones and up but these were not readily accessible. According to Yin, rubies of 2 carats to 3 carats cost US$7,000 per carat while 5-carat stones may sell for US$15,000 to US$25,000 a carat, depending on the quality. Myanmar Gems strongest markets are China, Europe and the US. Outlook Gemburi s Khunaprapakorn said demand for rubies may increase by 20 to 30 percent owing to a number of reasons buyers from major markets such as China, the US and Europe have become more accepting of Mozambique rubies; and marked improvements in global economies, particularly the US and Europe. A shortage in supply however may push prices up further. Compared to five years ago, prices on average have increased by 70 to 100 percent for top-quality stones; 20 to 30 percent for medium-quality stones; and 40 to 70 percent for small/calibrated sizes. Prices of Mozambique rubies are more stable, he added. JNA 90 SEP 2018

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94 INTELLIGENCE PEARL AUCTION GROWS IN SCALE, IMPACT Rio Pearl s latest auction offered a more diverse and meticulously sorted selection of South Sea and Tahitian pearls, with buyers favouring top-quality goods. By Sze Man Young Rio Pearl s auctions have been going from strength to strength in the past few years, with its latest edition held recently in Hong Kong concluding on a positive note. The Hong Kong-based pearl trader s 9 th auction generated US$8.552 million in total sales, with 448,708 pearls or 94.1 percent of the available goods sold. Buyers were treated to a more diverse product range as the auction was held in partnership with Australian South Sea pearl specialist Ellies Pearling Pty Ltd for the first time. The Rio Pearl auction offered 893 lots of pearls, consisting of 126,071 South Sea pearls white South Sea pearls from Australia and golden South Sea pearls from Myanmar and Indonesia and 350,820 Tahitian pearls. Our latest auction featured a host of improvements based on our previous experience and buyer feedback. For starters, we took great pains to better sort the pearls. The Tahitian pearls were sorted meticulously according to the nuances of their colour and lustre, with similar pearls grouped in the same lot to facilitate buyer selection. Our employees also underwent intensive training prior to the auction in order to enhance customer service, said Rio Pearl Director Jonathan Cheng. Highlights of the auction were a top-grade 18mm round South Sea pearl, and a premium 20mm buttonshaped South Sea pearl, both from Australia. A lot consisting of 194 Tahitian pearls, peacock green in colour and measuring from 11mm to 14mm in diameter, fetched the highest price at the auction. Such topquality Tahitian pearls are harder to come by, and the shortage in supply puts an upward pressure on prices. Our three-day auction made available a huge selection of Tahitian pearls, including round, peacock green pearls that were much sought after, Cheng continued. The company official is bullish about business prospects. Pearl farms around the world are seeing a decline in production, and pearls of exceptional colour, lustre and surface quality have become quite rare. Their prices will undoubtedly remain firm this year, he remarked. Rio Pearl s next auction, scheduled for September, will showcase all the South Sea pearls from Ellies Pearling s summer harvest, as well as choice Tahitian pearls from Rikitea and the Tuamotu Islands. JNA 92 SEP 2018

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96 INTELLIGENCE RUANS: BUILDING A PEARL BRAND A leading player in China s pearl sector, Ruans Pearl (Holding) Co Ltd has been in the business for more than three decades. Creating a successful pearl brand however is only part of the company s ambition more importantly, it aims to change the market s perception of pearls. By Sze Man Young Pearl earrings Ruans Pearl (Holding) Ltd operates boutiques in high-end malls in Beijing, Xiamen, Nanjing, Shandong and Hangzhou not only to showcase its products but also to put a brick-and-mortar face to its already well-known name. It recently expanded to Hong Kong and unveiled its flagship store. In an interview with JNA, Ruan Tiejun, CEO of Ruans Pearl, disclosed that the company is planning to go public and open branches overseas. Branding Ruan stressed that branding is a necessary step for the company and the entire pearl industry. He further remarked, We are creating a pearl culture by partnering with experts in the field as well as upcoming designers to create products that strike an emotional chord with consumers. We want to add cultural depth to our brand and to the pearl industry as a whole. Technological innovations in freshwater pearl farming also bode well for the sector as these mean that the quality of freshwater pearls keeps improving while the required cost is going down. This likewise translates to a bright future for freshwater pearls, which may someday rival their saltwater counterparts in terms of quality and market share, revealed Ruan. JNA 94 SEP 2018

97 INTELLIGENCE Ruans Pearl's retail store We are creating a pearl culture by partnering with experts in the field and designers to create products that strike an emotional chord with consumers. We want to add cultural depth to our brand. In fact, China s freshwater pearls account for more than 95 percent of the world s total production. Majority of these are exported to other countries. A more effective domestic supply chain meanwhile is yet to be developed. In spite of this, Ruan is optimistic about the growth of the local market since pearls have always been regarded in traditional Chinese culture as noble and elegant. Industry upgrade According to Ruan, the biggest problem facing China s freshwater pearl industry is excess capacity, which could be resolved by way of branding. Developing a brand involves creating products that are consistently high in quality as opposed to producing a huge quantity of mediocre goods. Ruan practises what he preaches, having shifted his focus to the high-end market. Ruans Pearl made a splash in 2011 when the Protocol Department of the Ministry of Foreign Affairs chose its products as gifts that were presented to foreign leaders and dignitaries. The company was again placed in the spotlight during the 2016 G20 Hangzhou Summit and the 2017 BRICS Summit when its products were designated as official souvenirs for the events. All these developments contribute to our brandbuilding initiatives, which involve design, sales, promotion, opening stores as well as customer service. These make up a complete supply chain, explained Ruan. We re not focusing on the present but the future. The industry has seen a sea change where only the fittest survived. These companies have a very clear idea of what made them survive. They use this knowledge to go from strength to strength. Changes in the jewellery business landscape is likewise affecting the way jewellery companies do business, Ruan said. With the proliferation of WeChat sellers, many distributors are jumping on the e-commerce bandwagon while second-generation jewellers are gradually embracing online promotion and selling. Thanks to China s significant spending power, gemstone and jewellery markets worldwide have grown considerably, particularly those for jadeite, gold and diamonds. The pearl market has the same potential for growth, added Ruan. Pearl jewellery set JNA 95 SEP 2018

98 EVENTS JNA AWARDS 2018 RECOGNISES INDUSTRY LEADERS The JNA Awards, one of the most prestigious awards programmes that pushes for industry advancement through the promotion of best business practices, leadership excellence and innovation, will name this year s winners during a highly anticipated awarding ceremony in September. Organised by UBM Asia, the JNA Awards has established itself as an inspiring platform where business leaders and industry influencers can exchange ideas and share stories of success. The Award Recipients and Honourees will be feted at a gala celebration scheduled for September 16 at the InterContinental Hong Kong. Prida Tiasuwan, chairman of Pranda Jewelry Public Co Ltd PRANDA Group and one of the pillars of Thailand s jewellery sector, will receive one of the highest honours in the international jewellery and gemstone industry this year the Lifetime Achievement Award. Prida, known as one of Thailand s visionary business leaders, is credited for transforming PRANDA Group into one of the world s top jewellery manufacturers and exporters, and the Southeast Asian country s flagship jewellery brand. Under Prida s leadership, PRANDA mastered the mass production of finequality jewellery, a feat that used to be the exclusive domain of highly skilled goldsmiths. This high-profile industry pioneer also champions Thailand-made jewellery globally, encouraging other home-grown manufacturers to explore and capture international markets. Prida Tiasuwan of PRANDA JNA 96 SEP 2018

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100 EVENTS SYNTHdetect machine with a monitor developed by IIDGR (UK) Ltd Retail store of China Precious Gold Holdings Ltd Letitia Chow, chairperson of the JNA Awards, founder of JNA, and director of Business Development Jewellery Group at UBM Asia, said, Prida Tiasuwan has revolutionised the fine jewellery industry in Thailand. His bold vision and innovative ideas have not only brought success to his organisation; they have also benefited the industry as a whole. He led by example boosting competitiveness by improving efficiency and precision-manufacturing across different operating points. His lifelong love of jewellery most especially the beauty, joy and emotions that they represent is the reason why he remains deeply involved in the product development process. Prida is also known for nurturing new generations of artists who are preserving Thailand s time-honoured jewellery-making traditions. Prida has devoted himself to the industry for more than four decades. He currently serves as vice president of the Thai Gem and Jewelry Traders Association, director of the Subcommittee on Marketing at The Gem & Jewelry Institute of Thailand, and director of The World Jewellery Confederation or CIBJO. He is also a member (5 th Class) of The Most Noble Order of The Crown of Thailand for his outstanding service to the Kingdom of Thailand. Apart from his impressive achievements within the industry, Prida had also taken important roles in other areas. He was, among others, the chairperson of the Sub- Committee of Law Reform on Fair Trade and Consumer Protection of Thailand, director of Thailand-US Business Council, commissioner of the Legal Reform Commission of Thailand, and director of the Committee of Thailand Reform Assembly. I am truly honoured and grateful to receive this international accolade from the JNA Awards. This industry has given me so much happiness in my life. I and the top leaders around me have trained and developed thousands of people into becoming fine craftsmen, and I am extremely delighted to say that they are proud to create beautiful and exquisite jewellery pieces. I feel that God has given us the duty to fulfil the needs of those who wish to celebrate meaningful occasions by offering special and unique jewellery to their loved ones. We have accomplished this task and more since we ensure that all our products are and will be produced in a socially responsible way, Prida shared. JNA 98 SEP 2018

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102 EVENTS A tray from the Opal Master Reference Set produced by Cody Opal Australia Pty Ltd At PANDORA Production Co Ltd s innovation centre World-class innovators JNA Awards also received a record number of entries for the Industry Innovation of the Year category, proving yet again the importance of ground-breaking work and creativity in the jewellery sector. Competition was keener than ever in this category. Out of the 34 outstanding entrants, nine successfully made it to the Honourees list, namely, China Precious Gold Holdings Ltd, Cody Opal Australia Pty Ltd, DRC Techno, IIDGR (UK) Ltd, ISMOND Jewelry Technology Co Ltd, PANDORA Production Co Ltd, Shenzhen HengFuYingJia Gold Co Ltd, Shenzhen Lingchengben Technology Corp Ltd, and Shenzhen Mover Jewellery Co Ltd. Chow said, The importance of innovation is vital for businesses to remain competitive and be the winning team in this ever-changing world. Innovation does not only apply to technology, but in every aspect of an operation, from business models, gemmological research, production and marketing initiatives to management processes, which have all been welldemonstrated by the Honourees. These companies are not satisfied with the status quo and have sought creative ways to respond and foresee the needs and challenges of the industry. The 2018 independent judging panel consists of industry experts, namely, Albert Cheng, advisor to the World Gold Council and former managing director, Far East; James Courage, former CEO of Platinum Guild International and former chairman of the Responsible Jewellery Council; Lin Qiang, president and managing director of the Shanghai Diamond Exchange; Mark Lee, research director of Asia Pacific Institute for Strategy; Nirupa Bhatt, managing director of the Gemological Institute of America in India and the Middle East; and Yasukazu Suwa, chairman of Suwa & Son, Inc. JNA Awards 2018 is supported by Headline Partners Chow Tai Fook, the Shanghai Diamond Exchange, and the Bahrain Institute for Pearls and Gemstones (DANAT) together with Honoured Partners KGK Group, Guangdong Gems & Jade Exchange, and Guangdong Land Holdings Ltd. Here is a full list of the individuals and companies that have been shortlisted as Honourees for JNA Awards 2018: JNA 100 SEP 2018

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104 EVENTS JNA Awards 2018 Honourees Brand of the Year Retail Jewelmer (Karamar Corporation) Luk Fook Holdings (International) Ltd Phu Nhuan Jewelry Joint Stock Co Shenzhen Darry Jewelry Co Ltd Shenzhen Perfect Love Diamond Co Ltd Shenzhen Sunfeel Jewelry Co Ltd esupplier of the Year Kiran Gems Pvt Ltd Zbird/Shanghai Wisdom Jewelry Trading Co Ltd Zhuge-to-store, Fubillion Industry Innovation of the Year China Precious Gold Holdings Ltd Cody Opal Australia Pty Ltd DRC TECHNO IIDGR (UK) Ltd ISMOND Jewelry Technology Co Ltd PANDORA Production Co Ltd Shenzhen HengFuYingJia Gold Co Ltd Shenzhen Lingchengben Technology Corporation Ltd Shenzhen MOVER Jewellery Co Ltd Outstanding Enterprise of the Year ASEAN, Japan & Korea Crossfor Co Ltd J.ESTINA Poh Kong Jewellers Outstanding Enterprise of the Year Greater China Luk Fook Holdings (International) Ltd Shenzhen MingFeng Jewellery Co Ltd Shenzhen Sunfeel Jewelry Co Ltd Outstanding Enterprise of the Year India H.K. Jewels Pvt Ltd KGK Diajewels Pvt Ltd RMC Gems India Ltd Retailer of the Year (500 outlets and below) Phu Nhuan Jewelry Joint Stock Co Poh Kong Jewellers PT Central Mega Kencana Shenzhen Darry Jewelry Co Ltd Retailer of the Year (501 outlets and above) HIERSUN Mokingran Jewelry Group Co Ltd Shenzhen Ideal Jewellery Co Ltd Manufacturer of the Year Cutting & Polishing Chow Tai Fook Jewellery Group Ltd KGK Diamonds (HK) Ltd Manufacturer of the Year Jewellery Kuwayama Corporation MKS Jewelry International Co Ltd Shenzhen Kingli Jewellery Co Ltd Sustainability Initiative of the Year Jewelmer (Karamar Corporation) KGK Diamonds (HK) Ltd Young Entrepreneur of the Year (Age 40 and below) Xu Xiao, Zbird/Shanghai Wisdom Jewelry Trading Co Ltd Yang Lian Guang, Beijing Ying Yan Network Technology Co Ltd Zulu Ghevriya, Prism Group JNA 102 SEP 2018

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