Policies & Issues

British Jewelry Designers React to Brexit

Policies & IssuesJul 05, 2016

British Jewelry Designers React to Brexit

Some of the U.K’s top jewelers weigh in on the nation’s decision to leave the European Union.


London--In the wake of the controversial Brexit referendum, National Jeweler asked some of the United Kingdom’s top jewelers to weigh in on the nation’s decision to leave the European Union.

While some were hesitant to comment on a political issue, others were impassioned on the topic.

Below are the designers’ overwhelmingly negative responses to Brexit, mixed with messages of hope, in the words of those whom it will affect the most.

Stephen Webster
“The implications of Brexit for the jewellery industry are really the same for all industries. Brexit is nothing short of extremely bad news.

I can only hope that when we do find new leadership that they will be able to negotiate our way back in because now that we have had a taste of what being on the outside means, I’m sure given the chance of a second referendum it would probably be a landslide victory for staying in.

I wish I could find something positive to say about Brexit but I really can’t.”

Anna Jewsbury of Completedworks
“The financial consequences are still sinking in here in the U.K. but with an internationally diversified client base we hope we are in a good position to deal with any fluctuations and changes. What is most immediate for us right now is wanting to preserve the culture of our company that is currently very European, both in the makeup of our team and also in our outlook. How can you design conceptual jewellery for a global woman if you are not open and if that openness is not reflected in the studio and the design process?”

Solange Azagury-Partridge
“It was a really disappointing outcome for sure. However, I do think one should just move on and deal with the current situation and make the best of things. Adversity is a great boost for creativity. And the U.K. is certainly enterprising. I’m thinking positively.

No one can be sure [what Brexit will mean for the jewelry industry] yet. I’m sure there will be a period of uncertainty all around. The summer months are never the best in the year anyway. However, as the GBP (British pound) is low, it could encourage people to spend, but I’m no expert!”

Fernando Jorge
“Luxury is ultimately a global business, so like any sector we will be paying detailed attention in the coming months as to how any changes may affect our supply and distribution chains, and will act accordingly. The result
was perhaps unexpected, but the British jewellery industry is a vibrant, dynamic and international community that has proven in the past to be well able to navigate difficult or uncertain times.”

“How can you design conceptual jewellery for a global woman if you are not open and if that openness is not reflected in the studio and the design process?” - Anna Jewsbury of Completedworks

Lily Kamper
“I am really disappointed about the Brexit result particularly on a social level and deeply saddened by those ramifications, which affect us all. As a jewellery business I think time will tell how it will affect the industry and small businesses.”

Diane Kordas
“Brexit can potentially complicate and increase the cost of operation. For example, fungibility of VAT across the EU is one of the big benefits of operating in such a big market and this may be lost or reduced.

Also, landing fees or tariffs may be imposed if producing in Europe and/or selling in Europe. In addition it may be difficult to hire European talent in the U.K. as it would incur additional costs, i.e. sponsorships, legal fees, etc.

The jewellery industry is not really different to any other industry that will be affected by Brexit, whether (it affects) movement of goods, movement of labor and accounting issues. In general, the more open the markets, the better. British jewellers are global players. A positive, however: if a British jeweller produces in the U.K. along with having the bulk of their expensive base in the U.K., the devolution of the pound will make them more competitive.”

Sheherazade Goldsmith of Loquet London
“Brexit has caused cost prices to soar as most raw materials are sourced from abroad and paid for in U.S. dollars. This will make things harder for emerging talent and will cause a shrink back in development for those already established. However, fine jewellery differs from the rest of the luxury market, in that for a lot of cultures it holds an intrinsic value.”

Imogen Belfield
“There is an overwhelming feeling of shock and disappointment about the results of the EU referendum. Ninety percent of U.K. businesses stated their preference to remain in the European Union, in a survey conducted by the British Fashion Council. The most immediate impact for the jewellery industry has been the sharp rise in gold prices, marked at over £1,000 per ounce earlier this week. The arts and sciences in general receive huge financial support from the EU. My business, as well as my peers within the jewellery industry, have benefited unequivocally from the European Union and the financial support offered.
“The most immediate impact for the jewellery industry has been the sharp rise in gold prices, marked at over £1,000 per ounce earlier this week.” - Imogen Belfield

In our loyalty and allegiance to the EU and for the Remain campaign I signed, along with 1,200 other U.K. business, the ‘Stronger In’ business letter. (It was) an act that we hoped would work as a significantly important intervention, showing the breadth of support for the U.K. remaining in the EU from businesses big, medium and small. This letter was printed in The Times a few days before the vote, and picked up by other media throughout that same day.

We must now look forward, not back, and look at how we can best work together for the greater good of our nation. One hopes there will be some positives that shine a light through these dark times, and that our historically close working relationships with our European friends will enable proactive negotiations to be made that allow our countries to collaborate and work in harmony with one another. I believe the future should be about tolerance, equality and unity.”
Ashley Davisis the senior editor, fashion at National Jeweler, covering all things related to design, style and trends.

The Latest

Future Fortune sapphire ring
TechnologyMar 28, 2024
Pinterest’s 2024 Wedding Report Is Out

The report shows that couples are searching for vintage and antique rings, gold jewelry, pearls, and colorful pieces.

David Ettinger
IndependentsMar 28, 2024
David Ettinger of Bechdel Jewelers Dies at 69

He’s remembered as a “font of passion,” leaving behind a legacy of dedication to his craft and community.

Jewelers of America logo
IndependentsMar 28, 2024
JA to Host Series of Learning Workshops

The first one will take place next month during the Jewelers of Louisiana’s and Mississippi Jewelers Association’s conventions.

Jewelers of America Fly In Washington, D.C.
Brought to you by
How Jewelers of America Represents Your Business

For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.

Jaeger-LeCoultre Madison Avenue NYC store
WatchesMar 28, 2024
Peek Inside Jaeger-LeCoultre’s Revamped NYC Flagship

The redesigned boutique features interactive displays and a workshop space for hands-on learning about watchmaking.

Weekly QuizMar 21, 2024
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Asian Star’s diamond manufacturing facility in India
SourcingMar 27, 2024
Compliance, Caution, and Concern: The Current Outlook of Indian Diamantaires

There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.

Kira Diam solar plant
Lab-GrownMar 27, 2024
Indian Lab-Grown Diamond Manufacturers Keep Growing

A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.

BTYB-HoBrothers-updated.png
Brought to you by
The Scalable, Professional, and Effortless Solution for High-Demand Custom Jewelry Retailers

Ho Brothers offers scalable solutions for the future of custom jewelry.

Bharat Ratnam, a Mega Common Facilitation Centre (CFC)
SourcingMar 27, 2024
Reinvigorating SEEPZ, the Epicenter of India’s Studded Jewelry Exports

The zone’s modernization will enhance and increase India’s jewelry manufacturing capabilities while aiding small and mid-sized businesses.

Georgia May Jagger Tommy Hilfiger ad campaign
FinancialsMar 27, 2024
Movado’s Full-Year Sales Sink 11%

The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.

Hand holding shopping bags
SurveysMar 27, 2024
Consumer Confidence Held Steady in March

Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.

April Is Diamonds Do Good Month
Policies & IssuesMar 27, 2024
Diamonds Do Good Announces Its April Initiative

DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.

Tiffany & Co. With Love, Since 1837
MajorsMar 26, 2024
Tiffany & Co. Debuts ‘With Love, Since 1837’ Campaign

Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.

National Jeweler columnists Duvall O’Steen and Jen Cullen Williams
ColumnistsMar 26, 2024
Creative Connecting: AI Tools and Tips for Social Media

Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.

Nordstrom Men’s Store New York City
MajorsMar 26, 2024
Nordstrom May Go Private, Says Report

The retailer previously turned down an $8.4 billion offer in 2018.

Interior of Miami Lakes Jewelers
IndependentsMar 26, 2024
Miami Lakes Jewelers to Close After 37 Years

The Florida store’s owner Miguel Gonzalez is retiring.

 International Gemological Institute
GradingMar 26, 2024
IGI Announces Tech for ID’ing Lab-Grown Colored Diamonds

The lab stresses the importance of accurate identification, as the difference in price is “substantial.”

Kendra Scott lab-grown diamond jewelry
CollectionsMar 25, 2024
Kendra Scott Debuts Lab-Grown Diamond Fashion Jewelry

The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.

Instappraise logo NAJA logo
Events & AwardsMar 25, 2024
NAJA, Instappraise Offering Scholarships for Aspiring Jewelry Appraisers

One is reserved for a NAJA member, the other for a non-member.

Carie Lehrke and Megan Mattice
MajorsMar 25, 2024
Borsheims Announces New VP of HR, Assistant Manager

Longtime employees Carie Lehrke and Megan Mattice have received promotions.

My Next Question graphic vintage jewelry webinar
Recorded WebinarsMar 22, 2024
Watch: How to Buy and Sell Vintage Jewelry

Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.

Chris Clipper and Robert Lepere
MajorsMar 22, 2024
David Yurman Announces New CFO, Chief People Officer

Chris Clipper and Robert Lepere join the company with 50 years of combined experience.

Nakard pyrite earrings
CollectionsMar 22, 2024
Piece of the Week: Nakard’s Pyrite Earrings

The trendy, metallic earrings wink at classic spring colors.

Stock image of police cars with their lights on
CrimeMar 21, 2024
Sparks Fly as Burglars Lose Safe on California Freeway

JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.

Grizzly Mining rough emeralds
SourcingMar 21, 2024
Grizzly Sells 4,145-Carat Emerald for Over $1M

The miner’s March auction generated $19 million.

Helen McCluskey
MajorsMar 21, 2024
Signet Jewelers Names New Board Chair

Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.

Julia Roberts wearing a Chopard necklace
CollectionsMar 20, 2024
Julia Roberts Co-Designs New Chopard Jewelry Collection

“Chopard x Julia Roberts” showcases the first gems cut from the 6,000-carat-plus “Insofu Emerald."

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy