CollectionsApr 22, 2024
Jacquie Aiche’s New Campaign Stars Adam Levine, Behati PrinslooThe “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
EditorsJun 07, 2013
Lucky Number 3
We are not yet a full week removed from the madness and, I’ll be honest, I am exhausted. I stayed up too late on Sunday (along with many other nights) then had to catch a 7 a.m. flight home Monday. I definitely had the feeling all day that I had woken up in Vegas.
1) It was a good Vegas. I had the chance to walk both Couture and JCK and I would say both shows seemed upbeat, and busy.
It was my sixth Vegas, a paltry number compared to those industry veterans who have logged decades of trips to Sin City. But, still, I feel like I have a solid basis for comparison after half-a-dozen shows. This year’s “jewelry market week” activity, I believe, exceeded not only the down years of 2008, 2009, but also 2010 and 2011. It’s been the best year I’ve witnessed in terms of attendance and attitude since the downturn.
On the Couture side, some people were saying it was the best Couture ever, which would make sense considering the strength at the higher end of the market. Show organizers say that qualified attendance (retailers and press) was up 11 percent year-over-year.
JCK seemed busy as well, and I talked to one diamond dealer who said he did business mostly in bigger goods, 2 carats and up, while sales of melee slowed due to the number of jewelers sourcing smaller stones by breaking them out of gold buybacks.
2) The millennials are making waves. Dates for this generation vary depending on whom you ask. Some say the genesis of the millennials, also known as Gen Y, is in the late 1970s, while others push it into the early 1980s. In his State of the Diamond Industry presentation, Martin Rapaport defined the millennials as those aged 15 to 30, which would mean they born roughly between 1983 and 1998.
No matter their exact birthdates, it is a large generation (they are, after all, the children of the baby boomers) that is making a big impact on the world around them. This hasn’t gone unnoticed by the jewelry industry.
More companies are stressing ethical sourcing these days--can you say where your diamonds come from?--because younger people have expressed that they care about the origin of the products they buy and the ethics of the companies behind them.
There is also a greater emphasis on brands because this is a generation that identifies strongly with the story of the product they are buying and/or the ethos of the company behind it, which also ties
back to my previous point about ethical sourcing.
One more note about millennials: this is a generation that wants to have things their way, exactly.
Think about this: Apple’s now-iconic iPod debuted in 2001, when the oldest members of this generation were just 18. The iPod took listening, and purchasing, music to a whole new level, allowing people to buy songs a la carte instead of having to purchase entire albums. It also gave people the option of carrying virtually all of their music around with them and listening to it in any order they choose.
The lesson here for jewelers: millennials might not want exactly what you have in the showcase so you need to have a way of getting them a piece customized to their liking.
3) Supply chain transparency is a hot topic. This is a point that, obviously, ties back into No. 2--there is a large generation coming up that cares about this issue.
During the JCK show, there were sessions on responsible gold sourcing from the Responsible Jewellery Council, the new Diamond Source Warranty Protocol and the ethical “facets” of diamond sourcing as well as Rapaport’s annual Fair Trade Conference.
It’s becoming a bigger issue for diamonds and gold, as well as colored gemstones, and it’s one of which retailers need to make sure they are aware.
I enjoyed seeing everyone that I had the chance to chat with in Las Vegas. Have a great weekend; I leave you with this brief but Lucky dance lesson to get it started.
One more note about millennials: this is a generation that wants to have things their way, exactly.
Think about this: Apple’s now-iconic iPod debuted in 2001, when the oldest members of this generation were just 18. The iPod took listening, and purchasing, music to a whole new level, allowing people to buy songs a la carte instead of having to purchase entire albums. It also gave people the option of carrying virtually all of their music around with them and listening to it in any order they choose.
The lesson here for jewelers: millennials might not want exactly what you have in the showcase so you need to have a way of getting them a piece customized to their liking.
3) Supply chain transparency is a hot topic. This is a point that, obviously, ties back into No. 2--there is a large generation coming up that cares about this issue.
During the JCK show, there were sessions on responsible gold sourcing from the Responsible Jewellery Council, the new Diamond Source Warranty Protocol and the ethical “facets” of diamond sourcing as well as Rapaport’s annual Fair Trade Conference.
It’s becoming a bigger issue for diamonds and gold, as well as colored gemstones, and it’s one of which retailers need to make sure they are aware.
I enjoyed seeing everyone that I had the chance to chat with in Las Vegas. Have a great weekend; I leave you with this brief but Lucky dance lesson to get it started.
More on Editors
The Latest
SourcingApr 22, 2024
Virtual Diamond Boutique Rebrands as ‘VDB’The overhaul includes a new logo and enhanced digital marketplace.
MajorsApr 22, 2024
Signet Raises Nearly $9M for St. Jude Children’s Research HospitalThe money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Weekly QuizApr 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
