Diamonds
According to earlier reports, one of the key questions at the 3d Diamond Conference in Israel held on February 11-12 was the invitation to companies to participate in advertising the jewelry industry and diamonds as categories of goods. Until now, the mission of promoting the jewelry industry in the consumption market was carried by De Beers, which successfully led a decades-long advertising campaign sloganed “A Diamond is Forever.” Now, taking into account their shrunk market share De Beers speaking from the mouth of Managing Director Gareth Penny called upon other players to take part in industry advertising.
Gareth Penny was joined by Moti Ganz heading the Israel Diamond Institute in whose opinion rough diamond producers could invest no less than 3% of their profit into advertising campaigns. This move was backed up by billionaire Lev Leviev, the world’s most prominent diamantaire.
After the conference wrapped up, the intra-industry discussion was continued. In particular, the International Diamond Manufacturers Association (IDMA) scarified the absence of a unified and comprehensive approach to promoting diamonds as goods and announced its readiness to coordinate such a program on behalf of the entire industry.
Platinum
A special survey performed by Publishing Group Condè Nast has demonstrated that in recent years expenses for fiancee jewelry in the U.S.A. rose 60% with 81% of those surveyed giving their preference to platinum.
This is a good piece of news for the market, the Platinum Guild International believes. The guild notes that designers Scott Kay, Phyllis Bergman and Ritani have widened the range of their platinum items for the wedding segment of the jewelry market. They offer lighter items at lower prices for more thrifty buyers.
Gold
A special action is to be launched in the U.S.A. to attract buyers to gold jewelry. The campaign taglined as “May is Gold Month” is being run for the fifth time, but for the first time it becomes nationwide.
The program sponsors, among which the World Gold Council (WGC), popular Internet site Jewelry.com and Richline Group (Warren Buffett’s group of companies), will join their efforts in team with leading American retailers Belks, Ben Bridge Jeweler, BJ’s, J.C. Penney, Jewelry Television, Macy’s, QVC, ShopNBC and Sterling Jewelers to promote new jewelry collections.
The official participants of the campaign will start promoting their new collections within the frames of a nationwide media campaign in the magazines “Elle”, “Good Housekeeping”, “Harper’s Bazaar”, “In Style”, “People and Redbook”. In retail trade, this campaign will be backed up by way of special sets identifying the action, as well as by reminders in show-windows and direct mail catalogues.
Totally, all the partners of this action intend to spend about $3 million for advertising and marketing. Independent retailers may also turn the action to their advantage downloading action materials from the site of the World Gold Council.
According to the World Gold Council, May is a convenient month for marketing since this is the time to make gifts for the Mother’s Day, to get ready for graduation parties at educational institutions and for the wedding season taking into consideration the continuing period of spring-inspired love affairs. This is also a good time for one’s own gifts.
Jewelry mass media note that new samples of gold jewelry design take into account the rising prices for gold – more elegant and laced gold jewelry permits to sell at sufficiently low prices.
Silver
Well-known designers turn their attention to cheaper noble metals. Silver collections are being actively promoted, as it is for instance proved by the advertising campaign of Stephen Webster with Christina Aguilera posing as Grace Kelly – the star of Hitchcock’s movies.
Among other promoted designers is Gurhan Orhan, a Turkish-born American, who launched a silver jewelry collection.
Oxidized silver, being a more budget-sparing kind of metal, is actively promoted at jewelry shows, and according to mass media, it may turn into the mainstream of this season.
Silver-featuring diamond jewelry is being advanced to new incognizant markets, particularly to the Indian one, which recently witnessed a specially tailored show in New Delhi.
“Nobody had earlier launched white metal diamond jewellery in India before. Diamonds here are affixed on white metal which is silver quoted with gold so that it is affordable and one more important thing is that you are getting everything certified and hallmarked,” said Sadeep Agarwal, founder and CEO of Sadhu Ram Suresh Chand Jewellers.
Bollywood actor and Member of Parliament Shatrughan Sinha, fashion designer Puja Nayyar, jewellery designer Naina Balsawar and singer Shibani Kashyap were among the special guests at the event.
Also in India, Gitanjali Group announced its acquisition of Lucera Jewellery earlier owned by Renaissance Jewellery, which will permit it to bolster its positions in the silver jewelry market.
Gitanjali plans to extend the product line of this brand adding in designer-made watches, belts and bags. Besides, the company intends to open five more Lucera Jewellery stores this year in addition to the already existing 9 flagship stores and 32 sales outlets across the country.
Gitanjali believes that this acquisition goes with the company plans to consolidate its image as a pioneer of branded jewelry in India and to secure its footing in the market as a company selling lifestyle products.
Artefact adornments
Things made of parts of old-time adornments, coins, medals, etc. are as a rule less expensive but very popular. The jewelry mass media are active in their promotion. In particular, they again point to the “Subversive” Collection by Justin Giunta being on sale for more than a year.
