Jeweller - April 2020

10 Years Ago
Time Machine: April 2010
A snapshot of the industry events making headlines this time 10 years ago in Jeweller.
Historic Headlines
Marketing assault for Bulova
GIA launches virtual gem museum
Grand Seiko goes international
New labels for ‘synthetic’ diamonds
Unrest at NCJV
ACCC acts against retailer
STILL RELEVANT 10 YEARS ON
Bright Future: Coloured gemstones
often provide a price-friendly
alternative for shoppers... [There’s]
a need to better educate consumers
and retailers on the diversity of
stones available and their
various qualities
READ ALL HEADLINES IN FULL ON
JEWELLERMAGAZINE.COM
Following an Australian Competition and
Consumer Commission (ACCC) ruling against a
Sydney jeweller, news emerged that the same
jeweller received numerous warnings about
potential breaches of the Trade Practices Act from
the Jewellers Association of Australia (JAA).
The ACCC ordered Sydney jewellery retailer
Australian Opal Cutters to remove misleading
advertising after the company repeatedly referred
to ‘normal retail price’ in its promotions from
December 2005 to March 2009.
“The ACCC believes the market research did not
provide a sufficient basis upon which a ‘normal
retail price’ could be accurately determined or
quoted,” ACCC acting chairman Peter Kell said.
Ian Hadassin, JAA CEO, said, “The JAA
encourages and supports discounting so long
as the discounts offered are honest and real.”
Insurance industry challenged
The Jewellers Association of Australia (JAA)
intends to raise issues relevant to jewellery with
the Insurance Council of Australia as part of a
raft of consultations it has begun with individual
insurance companies across the country.
Issues under investigation include how to educate
jewellery retailers to best deal with insurance
claims from a customer, as well as the possibility
of breaches to the Trade Practices Act (TPA) by
insurers, such as exclusive dealing.
The JAA is also working on helping retailers
to understand how price limits in insurance
policies work.
April 2010
ON THE COVER Skagen Denmark
Editors’ Desk
1800-SALES-REP: “Boy, I wish I had a
dollar for every time I’ve been asked,
‘Do you know a good sales rep looking
for a job?’ I’d be a very rich man sitting
on a beach somewhere...
I learnt a long time ago that the
person you want to employ is not the
one looking for a job. ‘Good sales reps
are rare,’ I often say, ‘and when they
are good, everyone wants them.’”
Soapbox
The Magnificent Black:
“If opals lose their place in the
market, it won’t just mean a loss
of sales, and therefore profits, for
Australian jewellers; it will mean
the loss of millions of dollars for the
Australian economy…
The miners, wholesalers and
retailers of opal must come together
and amass knowledge and money
to start advertising and growing the
market. Either that, or we can simply
sit back and pray for it to happen.”
– J-Peter Hooshmand, director
Cosmopolitan Jewellers
Nationwide braces for
record payout
Nationwide Jewellers has announced that it
is expecting to make a record reward payment
to members as part of the buying group’s 2020
annual conference at Port Douglas in June.
Based on the expected record attendance,
the group will be rebating in excess of $200,000
to members, according to managing director
Colin Pocklington.
The buying group has also announced plans
to introduce a financial assistance scheme
for apprentices employed by members of
the group.
Baselworld opens on a
positive note
In a marked contrast to last year, Baselworld
was abuzz with confidence. Although cautious,
organisers said there were positive signs as
1,915 exhibitors from 45 countries attended.
The numbers were good news for Baselworld
managing director, Sylvie Ritter. There was a
net loss of around 30 exhibitors.
“Baselworld is fully booked. We have the
same number of exhibitors as we had in
2009 and this has remained unchanged for
several years,” announced Ritter at the media
conference. She called the 2009 economy
“challenging” but predicted 2010 would
“reveal a revitalised industry.”
14 | April 2020