De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
What Happened to Stephen Webster’s Rock Vault?
Noticeably absent from this year’s Couture trade show, Stephen Webster talks about what’s next for the emerging designer platform.
New York—Rock Vault, the platform for emerging British jewelry designers, which saw the likes of Fernando Jorge and Tomasz Donocik pass through its ranks, was noticeably absent from this year’s Couture show.
But the program is not dead by any means.
The brainchild of designer Stephen Webster, the initiative was launched under the umbrella of the British Fashion Council in 2012.
At the time, he wasn’t yet a member of the organization, which is funded by the British government and fashion industry. Attending one of its events, he noted to BFC’s then-new CEO Caroline Rush that there wasn’t any kind of support for emerging jewelry designers.
Webster recalled: “She said, ‘Well, why don’t you do it?’ I said, ‘Oh I’m busy,’ and a month later I was running it.”
At the time, he envisioned passing off the project, which gives designers mentorship and a presence at London Fashion Week in addition to certain international exhibitions, to another established British jeweler after a few years, but somehow, that never materialized, “partly (because) I was loving it,” he admitted.
Last year, the government made cuts to BFC funding.
“It’s only small funding anyway but that small funding is everything to someone who is starting out,” he said. “The return that the country gets once that person starts exporting and employing people and everything that happens … I have no problem being vocal about (the government’s) short-sightedness because we had something incredible that could still be to this day if there was still a bit of funding there.”
“If you’ve got $10,000 and you’re going to spend it to come to America and it’s all on you financially and then three people come to you and they’re all consignment—that’s a really difficult position to be in.” — Stephen WebsterThe loss of funding made impossible what was already a difficult situation for small brands trying to establish a foothold in the market.
“By last year I could see that things were changing,” said Webster, noting that he had decreased the number of Rock Vault designers from 10 to six about three years ago so he could adequately mentor the group.
Of that number, only four made the trip to Couture in 2017.
“People were a bit like they would use their last penny to get there and that coincided with the British Fashion Council losing funding,” he explained, “so
Of the group present at last year’s show, two of the brands—Rachel Boston, and Shimmell and Madden—graduated out of Rock Vault.
“I only had a couple of people that were in their first year,” Webster said. “I said to them, ‘I know you’ve put all of your money into being here and I think we all know that the industry in America is very much built on a memo/consignment model, which is very difficult as a young designer.’
“If you’ve got $10,000 and you’re going to spend it to come to America and it’s all on you financially, though the space is provided by me, and then three people come to you and they’re all consignment—that’s a really difficult position to be in.”
Webster used one Rock Vault designer, Frances Wadsworth Jones, as an example.
“Frances Wadsworth Jones, who is an incredible designer, couldn’t afford to come (to Couture) so I couldn’t have her there. Fortunately, by being in Rock Vault at London Fashion Week she picked up Boon in Korea and they wrote a massive order. Then my partners in Moscow, Mercury, wrote another one so suddenly her only worry is, ‘How am I going to make all of this stuff?’ That’s a different worry altogether.”
That Couture Allure
As dismal as the situation might sound, Rock Vault is not going away, but it is undergoing changes.
Webster said BFC CEO Rush did everything she could to find the group funding and it will now fall under the Newgen banner. Newgen is the BFC’s fashion equivalent of Rock Vault, and has supported a gaggle of British fashion superstars, Alexander McQueen and Erdem’s Erdem Moralioglu among them.
“It will be smaller, but it doesn’t mean it has to stay smaller; it’s just where it is right now,” he said.
Under Newgen, Rock Vault jewelry designers will continue to appear at London Fashion Week, an opportunity which, earlier this year, saw them meet Queen Elizabeth II, in addition to the regular group of buyers and editors.
Webster will take the opportunity at September’s London Fashion Week to see “what Rock Vault looks like under Newgen” and decide from there what direction is best for the group.
“The spirit of Rock Vault was different. Nothing to do with talent. The talent’s out there. Putting the talent together and giving it a name and supporting it—that was the difference.” — Stephen WebsterIn the long term, he’d like to see the group return to Couture, despite how difficult it can be for young designers to succeed in the American market with its overreliance on consignment practices.
“I’m fortunate to have had a long career as a Brit in America and that could never not be a part of my plan,” he said. “The only reason I would say, ‘Forget America at the moment,’ is if someone can’t afford to get there. Other than that, it is always part of my plan and it should be.”
When Rock Vault returns to the jewelry trade show, it will likely look a little different, though Webster isn’t sure how exactly.
“I’m working on [it] with Gannon (Brousseau, Couture show director) because he loves the spirit of Rock Vault and every year a designer from Rock Vault would win something at the Couture Design Awards.”
In fact, Webster said that his favorite Rock Vault memory thus far was when his passion project received a number of nods at the 2016 awards, current members and alumni alike.
“Whoever was on stage said, ‘My God, it’s the British invasion.’ It almost made me cry,” he recalled.
“I think seeing Imogen (Belfield) get an award for Best in Gold and Tomasz (Donocik) won something and it was a crazy brilliant time when you think: It just works.
“Everyone knows what Rock Vault is. You can’t not know. To establish yourself on your own—if you’re good you’re going to get there in the end. But the spirit of Rock Vault was different. Nothing to do with talent. The talent’s out there. Putting the talent together and giving it a name and supporting it—that was the difference.”
The Latest
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.
The retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
The bridal collection consists of 35 engagement rings and seven wedding bands.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
The family-owned jeweler has a new education section on its website dedicated to the history of diamond cutting.