SPRING 2008: Rough Times, with a Silver Lining

Given the economic situation, it's not surprising that the top trend from both Centurion and the JA New York Show is high-style silver.

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SPRING 2008: Rough Times, with a Silver Lining #1
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Given the economic situation, it's not surprising that the top trend from both Centurion and the JA New York Show is high-style silver. New silver collections launched at the shows offered more than just affordability. They offered designer looks, bold scale, an on-trend palette, and self-purchase price points.
Notable new designer silver collections include Leslie Greene and Stephen Webster (see "What's New" on page 60). Brands like Breuning, Kabana, Caroline Ballou, and Stuller are also placing new emphasis on silver styles, devoting areas in their show display cases to the affordable white metal for the first time. Manufacturers in India also report that the majors, pressed to the breaking point on price points, are ordering some diamond classics in silver this year. Some Indian manufacturers are even experimenting with silver in the bridal category.
In the high-end, high-style market, rough diamonds continue to increase in popularity. Other designers are using milky or icy diamonds, often in unusual shades of honey and gray. Rose cuts also continue to grow in importance in diamonds and colored gemstones alike.
The organic look is also adding to the continued popularity of shades of brown, from brown and champagne diamonds to chocolate gold and bronze, to chocolate pearls, to smoky quartz and tiger's-eye. Wood continues to be important as an alternative material especially in bangles and links.
Carved gemstones, especially white agate and black onyx, were another popular material for links, bracelets, pendants, and large rings.
Many of the key items from last year continue to be important: hoop earrings, medallion pendants, stackable bangles and rings, and link necklaces and bracelets. Joining them this year are bold statement cuffs and necklaces. Bold cocktail rings, like those from JJ Marco, Angelique de Paris, and Blu, are getting even bolder—especially extra large cabochon styles meant to be worn as statement pieces on the index finger.
Although the overall fashion is for oversized dramatic pieces, many designers and manufacturers also launched smaller-scale versions of popular collections to provide retailers with an entry level price point to their collections. Designers and manufacturers offering small versions of popular collections include Andréa Candela, Bellarri, Color Story, Damiani, Beverley K., Alex Woo, Yasuko Azuma, Kamofie, and Dana-David.
Despite all the gloom and doom, or maybe because of it, there's a new appreciation for whimsy. The most popular motif continues to be sea life, which is always strong in resort areas for the summer but seems to have a broader appeal this year, with many companies offering their own versions of the marine theme.
Luxury the Signature of NEW INDIA SHOW IN GOA
In the U.S., luxury retailers have Couture. In India, they now have IIJS Signature Goa, a new show launched by the Gem & Jewellery Export Promotion Council of India to showcase India's ability to produce quality jewelry that suits global lifestyle trends in luxury.
IIJS Signature was held in the seaside resort area of Panaji, Goa's capital city, located at the confluence of the Mandovi River and the Arabian Sea. The venue of the Kala Academy welcomed visitors from its own riverside jetty.
The event was by invitation only, with 490 guests, and showcased the country's top 98 manufacturers spread across 140 booths. Exhibits included all jewelry product categories, including daily wear, couture, and heritage jewelry. In addition to 259 foreign buyers from around the world, the top 165 retailers from India also visited the show.
"We have ensured that IIJS Signature serves as a platform to forge strong and enduring business relationships," says GJEPC chairman Sanjay Kothari. "The exhibitors were the most renowned companies of India and their manufacturing abilities are at par with international centers in terms of design quality and craftsmanship."
This show is first of its kind for the Indian jewelry industry. It featured a blend of both luxury and mass produced jewelry with an emphasis on design and style. Although India is well-known for its ability to competitively produce mass-market jewelry, the country now also has developed the capability of supplying high-end jewelry for exclusive brands. The show was designed to showcase this evolution in India's creativity, manufacturing and quality standards, and high-end service capacities.
According to show organizers, both exhibitors and buyers responded positively to the new format and expressed a desire to attend again in 2009.
"IIJS Signature has sent a loud message to the gem and jewelry fraternity that India has moved from being recognized merely for its labor intensive skills, to excellence in design and craftsmanship," says Navin Jashnani, the convenor of the IIJS subcommittee. "The show provided India a platform to showcase our intrinsic talent in gem and jewelry design and manufacture. By organizing IIJS Signature in Goa, we want to put the state on the map of the global gem and jewelry industry."
FTC Proposes Platinum Alloy NOMENCLATURE
How do you think jewelry made from alloys of platinum and base metal should be marketed? The Federal Trade Commission is giving you one last chance to have a say.
The FTC recently issued a federal register notice asking for comments on a proposed amendment to the "Jewelry Guides" that would allow jewelry marketers to use the term "platinum" to describe jewelry made from alloys of platinum and non-platinum group metals.
The amendment refers to jewelry that contains between 50 and 85 percent platinum alloyed with base metals. The guides already have rules for platinum jewelry that contains 50 percent platinum and at least 95 percent platinum group metals.
The proposed amendment allows marketers of the half-platinum and half base-metal alloy jewelry to stamp it with a standard marking with parts per thousand and symbols of its metal composition but requires them, when marketing the jewelry, to describe its composition with percentages of metal content spelled out.
The amendment also requires any differences between the alloy and traditional platinum jewelry to be explained but this requirement is removed if the marketer has "competent and reliable scientific evidence" that the product's durability, hypoallergenicity, resistance to tarnishing and scratching, ability to be resized or repaired, and other properties important to consumers are the same as traditional platinum jewelry.
In its request for comment, the commission asks whether it should require additional disclosure on how platinum-base metal alloy jewelry differs from traditional platinum jewelry with regard to purity and rarity. The commission also asks if it should require that the expanded description of the metal content of the alloy be physically attached to the jewelry.
The FTC has also asked for industry input on whether the "Jewelry Guides" should use the same nomenclature rules for platinum-plated jewelry as for gold-plated jewelry. How should platinum-clad, filled, plated, or overlay jewelry be marked and described?
Comments, which should refer to "Jewelry Guides, Matter No. G711001," must be received by May 27, 2008. The full text of the federal register notice is available on the FTC web site at www.ftc.gov/opa/2008/02/fyi08004.shtm. Comments can be filed on-line at http://secure.commentworks.com/ftc-jewelry.
— Cheryl Kremkow
Strong Show for IJO
Bucking the trend at recent trade shows, attendance was strong at the February conference and show of the Independent Jewelers Organization at the Broadmoor Resort in Colorado Springs, Colorado.
"We had more than 80 percent of our membership attend, about the same number of stores as a year ago," says IJO director of member services, Penny Palmer. "What's really encouraging is several exhibitors reported this as their best show ever. Because we've become such a strong entity we're attracting the cream of the crop in manufacturers and designers. Our buying group has strengthened as the retailers have grown."
David Fiske of Gerald's Jewelry in Oak Harbor, Washington, explains why he always attends the biannual event: "I can't afford to take a chance on missing even one great idea that's going to make a difference in my business. And I routinely pick up several at each and every conference."
"IJO members are doing better than most of the independents in the U.S.," says IJO president and CEO Jeff Roberts. "There truly is strength in numbers, and because no one competes in IJO there is information shared that you wouldn't find anywhere else in the industry. Our members are totally connected to one another—24 hours a day if they choose—and they're not out there struggling all alone."
This conference was the last as chairman for Richard Swetz, who has led the organization for ten years. Swetz, a former long-time retail member of IJO, bought the organization in 1998 and will turn over ownership to Roberts in June.
"Richard has turned the focus more and more on education over the years, and that's something that will continue to grow," Roberts says. "I've been part of this organization for more than 30 years, and I fully understand that knowledge is power. We can never stop improving ourselves. The education offered by IJO is second to none."
IJO is a membership service organization and buying group, with all stores given protected market areas. For more information, call (800) 624-9252 or visit www.ijo.com.
MINERS to Fund Palladium Promotion
Major palladium miners, led by Norilsk Nickel, the world's largest producer of palladium, will join Stillwater Mining of the U.S. in its efforts to promote palladium jewelry in the U.S. and China. Other palladium producers who will participate include South African producers Anglo Platinum, Impala Platinum, and Lonmin.
The decision was based on an industry-wide study of the market for palladium jewelry conducted by the Palladium Alliance International, founded by Stillwater, and the International Platinum Group Metals Association, which includes the other producers.
The three South African producers, led by Anglo Platinum, also fund international promotional efforts of platinum jewelry. Norilsk and Stillwater will join the three in sponsoring platinum promotion so, in essence, the same producers will fund both platinum and palladium jewelry promotional efforts.
Norilsk sent out an official statement that says: "Both platinum and palladium jewelry market development, will in the future be funded by the same group, but will be managed by separate organizations. A new individual brand identity will be developed for palladium jewelry. The key platinum group metal producers believe this to be an important strategic development for the industry, both cementing the market position for platinum jewelry and significantly enhancing the value of palladium as a jewelry metal in its own right."
Brochure on METAL CHOICE
Novell, which manufactures jewelry in many metals, has created a new consumer brochure on choosing a bridal metal. The brochure mentions seven factors to consider when choosing a metal: intrinsic value, lifespan, precious-metal purity, hypoallergenic qualities, surface strength, rarity, and "restoration factor."
"Restoration factor" refers to a metal's ability to be "refinished, resized, or reconditioned easily." The brochure includes a chart showing how six metals perform according to the seven criteria: platinum, palladium, 14k and 18k yellow gold, 14k and 18k white gold, titanium, and tungsten.
Although, as you might expect, platinum performs the best for most criteria, it doesn't rank high on surface strength. Tungsten performs best in that category. All in all, the brochure is a nice way to frame the metals discussion for jewelers who have a variety of choices available. The brochure will also be available to consumers on Novell's web site at www.novelldesignstudio.com.
MAY is Golden Again
It's the fifth year for the "May is Gold Month" promotion sponsored by the World Gold Council, Jewelry.com, and the Richline Group. This year, participating retailers are Belks, QVC, Ben Bridge Jeweler, JC Penney, Jewelry Television, Macy's, ShopNBC, BJ's, and Sterling Jewelers. Independent retailers are also invited to participate by downloading the campaign's logo and point-of-sale materials from World Gold Council's www.marketing.gold.org web site.
This year's promotion will also raise funds and awareness for Jewelers for Children through a sweepstakes hosted on Jewelry.com. The sweepstakes offers consumers the chance to vote on and win their favorite new design in gold jewelry, with Jewelry.com making a contribution of ten cents, up to $50,000, for each completed entry in the sweepstakes.
This May, participating majors will promote gold jewelry through a national media campaign in magazines like Elle, Good Housekeeping, Harpers Bazaar, InStyle, Redbook, and People and retail point-of-sale signage, window displays, and direct mail catalogs. In total, about $3 million will be dedicated to advertising and marketing support by all the partners.
"The continuing interest and participation in 'May is Gold Month' is a strong testament to its success," says John Calnon, WGC's managing director, USA. "As we celebrate the five year milestone, we strongly encourage more independent retailers to take advantage of the marketing opportunity, as well as the on-going resurgence of yellow gold's popularity in fashion."
ZALE Gets Smaller
Zale Corporation, Irving, Texas, announced it is closing 105 stores, reducing capital expenditures for fiscal 2009 by $40 million, and reducing its headquarters staff by 200. By the end of the current fiscal year, which ends July 31, 2008, Zale anticipates having only 2,145 retail locations. The moves will result in annual savings of more than $65 million annually beginning in the company's fourth quarter of fiscal 2008, according to a company statement.
"It is essential that we reduce the company's infrastructure costs, which have outpaced its sales growth since 2002," says Zale president and chief executive officer Neal Goldberg. "While we recognize that this will help drive efficiencies in the near-term, our ultimate success will come from optimizing the balance between top-line growth, margin expansion, and expense control."
author: Cheryl Kremkow




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