Jeweller - April 2024

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EXPLORE THE LATEST RELEASES FROM 

AUSTRALIA'S LEADING SUPPLIERS 

VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY APRIL 2024 

ELITE DESIGNERS REVEAL THEIR 

FAVOURITE PINK DIAMOND CREATIONS 

JEWELLERY STORE OWNERS EMBRACE 

A NEW BUSINESS MODEL 

APRIL 2024 

Contents 

This Month 

Industry Facets 

11 Editorial 

20 

10 YEARS AGO 

Time Machine: April 2014 

12 Upfront 

23 

LEARN ABOUT GEMS 

Game-Changing Gemmologists: VIII 

37 PINK DIAMONDS 

Cream of the crop 

Pink diamonds have captivated the hearts 

and minds of jewellers around the world. 

Take a closer look at jewellery created using 

some of the Earth's rarest diamonds. 

14 News 

29 April Buying Guide 

Features 

48 

50 

MY BENCH 

Lani Williams 

SOAPBOX 

Kim Ridley 

24 STATE OF THE INDUSTRY REPORT 

Could your business 

survive without a store? 

In the latest addendum to Jeweller's 2024 

State of the Industry Report, the emergence 

of jewellery retailers operating without a 

traditional storefront is examined. 

24 

29 

37 

Better Your Business 

42 

STATE OF THE INDUSTRY REPORT - ADDENDUM 

The rise of jewellery businesses without a store 

APRIL BUYING GUIDE 

Discover the latest products and collections 

PINK DIAMONDS 

Jewellery designers working with the rarest of the rare 

BUSINESS STRATEGY 

Fortune favours the bold. BARRY URQUHART says it's time to make a statement. 

29 APRIL BUYING GUIDE 

Time for something new? 

Discover the latest and greatest new 

products and collections from the Australian 

jewellery industry's leading suppliers. 

44 

45 

46 

47 

SELLING 

DOUG FLEENER explains the keys to measuring success in sales. 

MANAGEMENT 

DAVID BROWN reflects on the lessons learned by a high-profile businessman. 

MARKETING & PR 

THOMAS YOUNG reveals common digital marketing errors. 

LOGGED ON 

SHEP HYKEN explains the importance of reviews for your business. 

23 LEGACY LIVES ON 

Trail blazer 

Learn about the life and times of 

Geoffrey Arthur Tombs, and the impact 

he had on the field of gemmology. 

FRONT COVER 

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April 2024 | 9

10 | April 2024

Editor’s Desk 

Fashion jewellery: Out of the frying pan into the fire 

The more things change, the more they stay the same. SAMUEL ORD shines a light 

on the recent woes of fashion jewellery chain Colette by Colette Hayman. 

While Jeweller has documented many 

significant changes in the jewellery 

industry over the past decade, one thing 

remains true. 

Fashion jewellery is a volatile business. 

It was announced on 4 April that the 

Marquee Retail Group (MRG), the owner 

of Colette by Colette Hayman, has been 

placed into voluntary administration. 

The Sydney-based company announced 

that Domenic Calabretta, Mitchell Ball, and 

Richard Lawrence from the insolvency firm 

Mackay Goodwin have been appointed to 

oversee the company’s business affairs. 

In the immediate aftermath of the 

announcement, the company's collapse was 

quickly attributed to many factors, including 

a sales downturn over the past six months, 

the impact of rising inflating and increasing 

interest rates, and ongoing debt issues with 

the Australian Taxation Office. 

While the degree to which each of these 

factors has contributed to MRG's woes is 

uncertain, what is clear is that there is a 

great deal at stake. 

Jeweller’s 2024 State of the Industry Report 

recorded 58 Colette stores in Australia. The 

chain has a significant presence on the east 

coast, with 19 stores in New South Wales, 

and 16 in both Victoria and Queensland. 

MRG employs more than 400 people and it's 

been said there are no plans to reduce staff. 

Customers have been assured that there are 

no plans for store closures and that it will be 

‘business as usual’ under new management. 

With that said, the volatility of fashion 

jewellery has been exposed once again. 

History repeats itself yet again 

This is the second time in four years 

administrators have been appointed to 

Colette, a chain that once had more than 100 

stores in Australia and New Zealand. 

To understand the history of the company 

and the volatility of fashion jewellery, we 

must rewind the clock more than 20 years. 

In 2003, husband and wife Mark and Colette 

Hayman launched Diva, a fashion jewellery 

chain that experienced rapid expansion. 

Diva was sold to BB Retail Capital in 2005. 

At its peak, more than 500 Diva stores 

operated worldwide; however, the company 

was liquidated in 2015. Diva was ‘dethroned’ 

by Lovisa, also owned by BB Retail Capital. 

Lovisa remains a fashion jewellery 

juggernaut today, with more than 

170 stores in Australia and more 

than 800 stores worldwide. 

Around the time of Lovisa’s launch in 

2010, Colette Hayman re-emerged in 

the Australian jewellery industry after 

the expiry of a three-year non-compete 

clause connected with the sale of Diva 

to BB Retail Capital. 

Hayman launched Colette Accessories, 

beginning with a single store in the Sydney 

CBD. The company would quickly expand 

into a network of 120 stores in three years. 

It was another rapid rise in the world of 

fashion jewellery for Hayman; however, once 

again, it may have been ‘too much, too soon’. 

Colette Accessories was active until 

February 2020, when the company was 

renamed Colette By Colette Hayman and 

placed into administration. Management 

of the business was handed to Deloitte 

Restructuring Services. 

Colette continued trading through 

administration, and after an initial deal 

fell through, former Myer boss and current 

MRG chairman Bernie Brookes eventually 

acquired the business. 

Brookes was to own 90 per cent of the 

business, with the remaining 10 per cent 

owned by an unidentified silent investor. 

Around the time of the purchase, he 

suggested that the fashion jewellery chain’s 

store network was too large. 

Just four years after the first collapse of 

Colette, the company once again faces an 

uncertain future. Addressing the state of the 

Colette, Brookes said the board “regrets that 

these events have come to pass.” 

MRG has confirmed it is exploring “the 

potential sale of the business [whole or 

in part] as part of its strategic options”. 

Why fashion jewellery? 

Fashion jewellery is a volatile business. 

Colette and Diva are far from the only chains 

to have experienced an abrupt collapse. 

Said another 

way, most 

teenage girls 

don’t lay 

awake at night 

worrying about 

car loans, 

mortgage 

repayments, 

and inflation! 

In 2010, Jeweller recorded seven fashion 

chains accounting for more than 370 stores. 

Over the ensuing years, six of those seven 

would eventually fail. Bijoux, Butterfly Silver, 

Diva, Equip Accessories, Magnolia Silver, and 

Myka went ‘the way of the dodo’. 

However, the category's volatility and the 

history of fashion chain demise in Australia 

extends further back. Budget jewellery chain 

Kleins, with more than 180 franchised stores, 

was placed in voluntary administration in 

2007 and liquidated in May the following year. 

Klein’s collapsed owing around $25 million, 

with $15 million owed to secured creditors. 

On a case-by-case basis, these chain stores 

collapsed for unique reasons; however, they 

faced similar pressures. Competition is fierce 

in fashion jewellery, and chain stores must 

fight entrenched online businesses and 

emerging ‘flavour of the month’ rivals for 

consumer dollars. 

Often based abroad but able to penetrate the 

Australian market because of international 

trade, many of these fashion jewellery 

competitors are savvy e-commerce veterans. 

Fashion jewellery chains have also been 

subject to consistent increases in shopping 

centre tenancy costs. Finally, online 

shopping has become increasingly popular 

as consumer behaviour has evolved over 

the past decade. As a result, the viability 

of physical fashion jewellery stores is 

increasingly questionable. 

The target market for fashion jewellery — 

typically teenage girls influenced by changing 

fashion trends — is rich and bountiful. 

Although this target market may not be 

able to purchase fine jewellery, they’re also 

sheltered from specific economic pressures. 

Said another way, most teenage girls don’t 

lay awake at night worrying about car loans, 

mortgage repayments, and inflation! 

With that said, these consumers are subject 

to rapidly evolving trends and should a fashion 

jewellery chain fall out of favour and the ‘well 

runs dry’ – the consequences are dire. 

This is a lesson that fashion jewellery chains 

have learned in the past decade, and it’s a 

lesson that Colette is now learning for the 

second time in just four years. 

SAMUEL ORD 

EDITOR 


Upfront 

Stranger Things 

Weird, wacky and wonderful 

jewellery news from around the world 

Extravagant emerald 

Actress Julia Roberts has 

unveiled her first jewellery collection, 

crafted from a fragment of an 

enormous 6,225-carat emerald. 

The Oscar-winning actress, 56, 

co-designed the jewellery capsule 

- which includes a ring, a necklace, 

and a pair of earrings - with Caroline 

Scheufele, co-president of Chopard, 

where Roberts is a global brand 

ambassador. The Chopard x Julia 

Roberts collection began with 

the Insofu emerald recovered by 

Gemfields at its Kagem mine. 

Disturbing development 

A widow who had her late 

husband’s ashes made into jewellery 

has been told she needs to identify his 

body eight months later as part of a 

police investigation into a UK funeral 

home. According to The Telegraph, 

police said the unidentified woman 

that her late husband’s body had 

been found in a freezer at Legacy 

Independent Funeral Directors in 

Hull, East Yorkshire, after raiding the 

premises following reports of “concern 

for the care of the deceased”. 

Rewind: Best Bench Tip 

SEPTEMBER 2017 

“Have patience. 

Be slow and steady.” 

LAUREN CUMMING 

JEWELLERY BY LAUREN 

HISTORIC GEMSTONE 

Star of Sierra Leone 

Discovered in February of 1972, 

the Star of Sierra Leone is the third 

largest rough diamond discovered. The 

rough weighed more than 968 carats. 

Harry Winston purchased the rough 

in October of that year; however, it was 

cut in August 1973. Winston bought the 

stone for around $USD2.5 million, and 

it was ranked as a type IIa diamond. The 

diamond was transformed into a 143 

carat emerald-cut stone; however, close 

examination revealed inclusions. The 

diamond was later recut into 17 smaller 

stones, the largest weighing 53 carats. 

Winston later set six diamonds cut from the original 

rough into the 'Star of Sierra Leone' brooch. 

Timeless Trends 

Chains are an easy way to complete 

any look, especially large statement 

pieces. Pairing effortlessly with 

everything from casual everyday outfits 

to extravagant ensembles, bold chains 

are often the cherry on top of any outfit. 

As a recent example, Taylor Swift and 

Travis Kelce rocked gold chains during 

their first joint public appearance as a 

couple. 

Image: Yahoo 

Image: Bulgari 

Golden opportunity 

Gold statues and jewellery crafted 

by sculptor Umberto Mastroianni 

have been stolen in a heist in Italy. 

Mastroianni (1910-1998) was an Italian 

abstract sculptor. Around 50 items he 

created, including gold statues and 

jewellery, have been displayed at the 

Museo d’Annunzio Segreto in Vittoriale 

degliItaliani, an estate overlooking 

Lake Garda, since December. The 

items stolen are reportedly valued at 

€EUR1.3 million ($AUD2.15 million). 

Augmented 

Reality: The 

next big thing? 

Augmented Reality (AR) has been 

described as the 'next big thing' for 

retailers. Following the COVID-19 

pandemic, AR tools offer retailers 

a way to bridge the gap between 

online and in-store shopping 

experiences. AR enables customers 

to view products in their homes. For 

example, IKEA has an AR shopping 

app that allows shoppers to see how 

a piece of new furniture will look in 

their room. In addition to improving 

in-store shopping, AR tools can 

assist consumers in finding what 

they need faster in large retail stores 

and shopping centres. 

Campaign Watch 

Bulgari and Save the Children are 

celebrating 15 years of partnership 

by launching a new custom-made 

necklace and the #withmewithyou 

campaign, which champions the rights 

and interests of children worldwide. 

With 25,000 dedicated staff across more 

than 100 countries, Save the Children 

responds to significant emergencies to 

ensure that young people are not left 

behind amid disaster. 

VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY 

Published by Befindan Media Pty Ltd 

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Publisher Angela Han angela.han@jewellermagazine.com • Editor Samuel Ord samuel.ord@jewellermagazine.com • Advertising Toli Podolak toli.podolak@jewellermagazine.com 

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strives to report accurately and fairly and it is our policy to correct significant errors of fact and misleading statements in the next available issue. All statements made, although based on information 

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arising from the published material.

Long live 

doing what's 

right. 

BECKS is on a path of evolution. 

Continuous improvement and 

sustainability is at the core of our 

business practices. This journey of 

innovation will help us to continue 

to deliver world class wedding rings 

and jewellery products, crafted in 

our South Australian studio. 

For both our customers and their 

clients, we stand by three powerful 

words. Long live love. 

BECKS, working towards: 

Circular 

Economy 

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Accreditations 

Toll Free. 1800 888 585 

Email. info@becksgroup.au 

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News 

Diamond industry frustrations 

with G7 sanctions intensify 

Concern within the international diamond industry about 

the impact of sanctions against Russian diamonds has 

worsened in recent weeks. 

In December, it was announced that sanctions targeting 

Russian diamonds would be introduced on 1 January by 

the US, the UK, Canada, France, Germany, Italy, Japan, 

and the European Union. 

A second stage of sanctions were introduced on 1 March, 

prohibiting the import of diamonds sourced from Russia 

above 1 carat. In September, the prohibition is expected 

to extend to diamonds between .5 and 1 carat. 

Belgium serves as a ‘central hub’ for diamond 

certification. JCK Online editor Rob Bates said this 

framework has caused considerable angst within the 

industry. 

“The G7’s ambitious plan to ban Russian diamonds by 

routing every stone through a single ‘rough node’ based 

in Antwerp is losing support among member nations, 

sources involved in the matter tell JCK,” he writes. 

“Currently, only the European Union is said to favour 

the plan for a sole Antwerp node; representatives of the 

United States, the United Kingdom, and other countries 

have all expressed reservations about it.” 

He continues: “For the moment, the EU remains 

committed to the Antwerp plan, which Everledger is 

piloting during the March-to-September ‘sunrise period.’ 

And while some notable names have shown interest 

in joining in the test, delays in shipping diamonds into 

Antwerp have made it difficult for even willing parties to 

participate.” 

According to reporting by Rapaport News, the new 

sanctions have already caused considerable disruption to 

supply chains. 

A letter expressing concern about the impact of sanctions 

was recently published by the World Federation of 

Diamond Bourses (WFDB) and supported by the World 

Diamond Council (WDC), India’s Gem and Jewellery 

Export Promotion Council (GJEPC) and the International 

Diamond Manufacturers Association (IDMA). 

GJEPC has also warned Indian diamond companies, 

encouraging more than 7,500 members to keep 

‘meticulous’ records to avoid violating sanctions against 

Russian diamonds. 

Finally, the world’s largest diamond mining company – 

the De Beers Group – has expressed concern over the 

‘unintended consequences’ of these sanctions. 

Pandora CEO: Sustainability not a priority for consumers 

Pandora’s CEO has made intriguing comments 

about the importance of sustainability to his 

business. 

Pandora is the world’s largest mass-market 

jewellery brand. In recent years, the company 

has repeatedly emphasised the importance of 

sustainable and environmentally friendly practices. 

In a recent interview, CEO Alexander Lacik 

suggested that these factors, while still important 

in business, do not increase jewellery sales. 

“[Environmental, social, and corporate 

governance] is a nice feature, and for the people 

who are interested, we have a good story to tell, 

but it's not the driver of the business,” he told 

Fortune. 

“When we talk about product choice, there are 

only two things that actually drive behaviour. You 

may claim that you do other things, but design 

is absolutely the most important aspect of your 

purchase decision on a product — and the second 

criterion is price.” 

In February, Pandora confirmed that it would use 

exclusively recycled gold and silver in all products 

from the second half of this year onwards. 

In 2021, the company launched its first exclusive 

lab-created diamond collection and announced 

plans to phase out natural diamonds from its 

product lines. 

The company also plans to halve its greenhouse 

gas emissions by 2030 and become a net-zero 

business by 2040. 

Despite the emphasis on sustainability for the 

company, Lacik confirmed it is not a point of 

appeal for customers. 

“Women like bigger stones that's the way the 

world works, whether we like it or not,” he joked. 

“Customers — when it comes to the bridal 

engagement space — are opting for spending 

the same or similar amount of money, but for a 

significantly larger stone.” 

He added: “I'll be dead before somebody comes 

into my shops and says: 'Can you show me your 

sustainable products? It's just not in people's 

minds when they're shopping this category.” 

Lacik’s statements support similiar findings of a 

retailer's survey completed as part of Jeweller’s 

2024 State of the Industry Report. 

More than 200 retailers were asked the following 

question: My customers voice concerns about ecofriendly 

and sustainability issues. 

Around 16 per cent answered 'never', while 

more than 75 per cent of participants answered 

‘occasionally’ or ‘rarely’. 

On the other hand, fewer than 2 per cent of 

respondents stated ‘always’, with a further 5 per 

cent answering ‘very frequently.’ 

Network investment: Swarovski reports sales increase 

Swarovski has published its sales report for 

the past financial year, fuelling speculation the 

company may be preparing for a stock launch. 

The company’s sales improved by 4 per cent to 

€1.83 billion ($AU3.04 billion) for the year, with a 6 

per cent increase in jewellery sales specifically. 

Store profitability improved by 36 per cent, while 

online sales increased by 11 per cent. 

CEO Alexis Nasard said these results confirmed 

the viability of the company’s strategy and that 

moving forward, Swarovski would continue to 

emphasise investment in its store network. 

"Our focus in 2024 will be on the disciplined 

execution of our strategy, with a continued focus 

on superlative creativity in our product collections 

and communication and further investments in 

our retail network and major brand moments,” 

Nasard said. 

JCK Online editor Rob Bates suggested that the 

decision to publish this data may be “a possible 

prelude to a public offering by the company.” 

Industry analyst Paul Zimnisky said the familyowned 

company may be considering an initial 

public offering (IPO). 

“Going public is certainly something that they 

could be considering,” he said. 

“Especially given the relative strength of the 

branded fashion jewellery segment at the 

moment.” 

When approached for comment, a Swarovski 

spokesperson rejected the speculation, stating 

that “at this time, the brand is not discussing 

[an] IPO.” 


documented 63 Swarovski stores in Australia, 

an increase of 31 stores since 2010. 

The report found that there are jewellery and 

watch 239 brand-only stores in Australia, a 

185 per cent increase over the past decade. 


News 

Hole-in-one: Australian Jewellery Fair lights up the Gold Coast 

Enriquez said that speaking with visitors reaffirmed 

his confidence that the prevailing adverse economic 

conditions would change sooner rather than later. 

Abbott of Timesupply, who said that the popularity 

of Coeur De Leon and Nomination has continued to 

increase. 

“I expect that we'll see an improvement before this 

time next year; I think consumer confidence will 

begin to improve by the fourth quarter," he said. 

"Between September and December, consumer 

confidence will begin to rise. Hopefully, This will set 

up retailers everywhere for a nice Christmas period." 

Reflecting on the fair, he said that the open model 

encouraged communication between exhibitors and 

visitors and that it was pleasing to see the number 

of retailers who embraced the Gold Coast as a 

destination. 

Australasia’s largest jewellery industry buying group, 

Nationwide Jewellers, hosted its annual conference 

in Broadbeach on 22-23 March. 

Expectations were high before the conference and 

fair, with more than 200 registrations secured a 

fortnight in advance. 

Independent Jewellers Collective also had a 

significant presence at the fair after hosting a 

partners conference on the Gold Coast. 

Event organisers have described the Australian 

Jewellery Fair (AJF) as a remarkable success, as 

members of the industry travelled from near and far 

for two days of trade on the Gold Coast. 

The fair concluded at the Gold Coast Convention 

and Exhibition Centre on Monday. With around 

70 exhibitors participating, the event was wellsupported 

by two of Australia’s buying groups. 

Expertise Events managing director Gary Fitz-Roy 

said he was taken aback by the popularity of the 

event. 

“It was a positive experience. The opening day was a 

shock. At certain stages, it felt like a consumer show 

with the number of people who couldn’t wait to get 

inside,” he told Jeweller. 

“The most important feedback we’ve received so far 

is that many exhibitors opened new accounts, which 

is great to hear.” 

The event's ‘open model’ — with the use of tables 

and dividers reducing costs associated with the 

construction of stands — was well received by 

suppliers. 

In recent years, the AJF has been held in Sydney, and 

Fitz-Roy said the move to the Gold Coast felt like a 

breath of fresh air. 

“We were willing to try something new this year and 

take a different approach, and clearly, the move to the 

Gold Coast has had an impact. I think it’s a perfect 

location this time of year,” he said. 

“It’s given us an excellent understanding of the 

industry's state, which will be helpful as we prepare 

for the International Jewellery Fair in August.” 

Planning for the future 

Among the many visitors to the AJF was Showcase 

Jewellers director Anthony Enriquez. This visit led to 

perhaps the event's most significant announcement 

– the buying group's return to the IJF in Sydney. 

The theme of the IJC conference is ‘Let’s work 

smarter’, with education sessions covering advances 

in marketing, succession planning, and artificial 

intelligence. CEO Joshua Zarb said the event 

renewed his confidence for the year ahead. 

“We had a fantastic conference, and the trade 

fair was great afterwards. On Sunday, I had an 

appointment at 10 am. Around 20 minutes in, 

I looked up, and there was this wave of people 

entering the room,” he said. 

“It was awesome to see and a fantastic fair. The 

sentiment among the members of my group who I 

spent time with was very positive, and I think with the 

holiday period out of the way, everyone is keen to get 

stuck into the year.” 

Sales and sunshine 

Another participant in the fair who was quick to 

report on the optimistic outlook of visitors was Ken 

“We opened more new accounts than we have in a 

long time, and among some of our existing accounts, 

we introduced them to new brands, so it was a very 

positive experience,” he said. 

“I would say that the vast majority of people that we 

spoke to — I would say 80 per cent of them - were 

very positive and good at adapting to the new world.” 

He added: “I like the location and the theme of it 

being a bit of a ‘holiday’ with business and pleasure 

combined. I think that’s a great draw card for 

business owners, and the success of this event is 

evidence of that.” 

Emphasising the social components of the event – 

which included a sun deck with chairs and banana 

lounges, as well as a putt-putt golf event sponsored 

by Gerrim – was also crucial to Fitz-Roy. 

“I think everyone enjoyed the extra activities; they 

added to the fun of the fair,” he said. 

“After the chaos of Christmas and the holiday period, 

retailers are looking for a relaxed environment. 

At this time of year, it’s important to unwind and 

recharge.” 

The industry's attention will now turn to the 

International Jewellery Fair in Sydney on August 

17-19 at the International Convention and Exhibition 

Centre in Darling Harbour. 

For further details and registration information, visit 

jewelleryfair.com.au. 

MORE BREAKING NEWS 

JEWELLERMAGAZINE.COM 


News 

Industry debate: Lab-created diamond popularity rises 

Nearly half of couples married in the past 

year selected a lab-created diamond for their 

engagement ring, according to a recent survey of 

consumers in the US. 

The research was conducted by The Knot, a 

technology company that offers wedding planning 

services. 

For its latest report on wedding and engagement 

trends, the company surveyed more than 9,000 

couples. 

The report found that 46 per cent of couples 

selected a lab-created diamond in 2023. That 

figure was just 12 per cent as recently as 2019. 

The average size of a lab-created engagement 

ring was 1.8 carats, while natural diamond rings 

were 1.5 carats on average. 

“Experts said the trend is being driven by 

couples wanting super-sized stones - made 

more accessible by the cheaper cost of the lab 

process,” writes Helena Kelly of The Daily Mail. 

“And it has been accelerated by celebrities such 

as Meghan Markle and Gigi Hadid, who have all 

been pictured in man-made diamonds.” 

This research supports similar findings in New 

Zealand, where jewellers detailed the increasing 

popularity of lab-created diamonds among young 

consumers. 

While little seems to be slowing the momentum 

of lab-created diamond jewellery, industry expert 

Martin Rapaport recently warned the trade about 

the category's future. 

“The diamond and jewellery trade’s promotion 

of synthetic diamonds as a replacement for 

natural diamonds is driven by greed. Synthetic 

diamond dealers and jewellers were able to make 

windfall profits by unfairly comparing the value 

of synthetic diamonds to natural diamonds,” 

Rapaport said. 

“Leading companies in the diamond trade, from 

De Beers to GIA to Signet Jewelers, supported 

synthetic diamonds as a replacement for natural 

diamonds even though they knew that the price of 

synthetics would crash due to unlimited supply.” 

He continued: “The sharp drop in synthetic 

diamond prices will disappoint consumers who 

purchased synthetic diamonds at high prices. 

They will not trust the diamond trade again. 

There will be a consumer backlash. The diamond 

and jewellery trade will suffer reputational 

damage.” 

Rapaport predicted a 30 per cent decline in shortto-medium-term 

natural diamond demand due 

to the negative impact of lab-created diamonds 

and warned that it would take years for this 

demand to recover. 

Swiss watchmaker opens new stores in Australia 

Swiss watchmaker Swatch has opened two new 

flagship stores in Australia. 

The new Melbourne store (Collins Street) will 

become the watchmaker's largest Australian 

store (315 square metres), while Perth (Murray 

Street Mall) has a modest 72 square metre 

footprint. 

Swatch currently operates stores in Pitt Street 

(NSW), Bondi Junction (NSW), Queen Street 

(QLD), Tullamarine (VIC), and South Wharf (VIC). 

The Melbourne store includes an 'open walkthrough 

space' with glass brick totem walls 

and product collection islands. The store also 

features large LED screens sharing the latest 

product collections, glass and metallic brick 

walls, and a new consumer bar concept. 

Both new stores will offer a similar product 

range, including collections such as the 

Bioceramic MoonSwatch. Grant Cohen, 

manager and owner of Melbourne’s Block 

Arcade on Collins Street, said the addition of 

Swatch was evidence of the area's importance 

in luxury retail. 

“If you want to buy a watch from $40 to $40,000, 

there is no point in going anywhere else [than 

this pocket of Collins Street],” he told The 

Australian Financial Review. 

“The opening of the new Swatch store has 

cemented this whole precinct as the horology 

centre of Australia." 


documented 75 brand-only watch stores in 

Australia. This marked a remarkable increase 

(251 per cent) since 2010. 

Swatch Group - which owns brands such 

as Omega, Longines, and Tissot – recently 

reported sales of CHF7.88 billion ($AU13.85 

billion), a 5.2 per cent increase on a year-onyear 

comparison. 


DIAMONDS ARE FOREVER, 

News 

BUT AUSTRALIA’S #1 JEWELLERY FAIR IS CHANGING... 

Showcase Jewellers commits to Sydney Fair 

International 

Jewellery Fair 

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and more. 

Showcase Jewellers will return to the International Jewellery Fair (IJF) in 

Sydney in August, marking a reunification of Australia’s three largest buying 

17 – 19 AUGUST, 2024 

groups under one roof. 

ICC SYDNEY, DARLING HARBOUR 

This year’s IJF will be at the International Convention and Exhibition Centre 

in Sydney’s Darling Harbour on 17-19 August. The event follows a productive 

JEWELLERYFAIR.COM.AU 

Australian Jewellery Fair, which concluded on the Gold Coast in March. 

roudly supported by 

Expertise Events managing director Gary Fitz-Roy praised the group for its 

collaborative efforts in making the partnership a reality. “With a renewed 

focus on unity and collective growth, IJF24 is poised to set new standards in 

the Australian jewellery industry,” he told Jeweller. 

“The return of Showcase unites the three major groups on the show floor. 

Along with Nationwide Jewellers and Independent Jewellers Collective, it 

underscores the fair’s status as the pre-eminent destination event for retail 

buyers and wholesalers alike.” 

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“We’ve had a good response among our members to that news over the 

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our members by having a strong presence, and I think the end result will 

be a win-win for the entire industry.” 

Enriquez added that industry unity should be paramount in times of economic 

adversity and uncertainty. 

“It’s been a tough economic time for the jewellery industry over the past six 

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“I think unity in the Australian jewellery industry is the way forward.” Industry 

unity was also a point emphasised by Fitz-Roy. He said that the decision to 

reintegrate Showcase Jewellers into the IJF reflected the event’s aim to offer 

a platform that addresses the unique demands of the broader industry. 

"We have remained committed to delivering industry unity and collaboration at 

a world-class event,” Fitz-Roy continued. 

“In today's rapidly evolving market landscape, it is crucial to create an 

environment that caters to the needs of both retailers and suppliers. 

Showcase has demonstrated its commitment to keeping the Australian and 

New Zealand jewellery industries focused on success through cooperation 

and unity.” 

As documented in Jeweller’s 2024 State of the Industry Report, Showcase 

Jewellers is the industry’s second-largest buying group, representing 153 

members and 183 stores across Australia, New Zealand, and Vanuatu. 

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News 

Surprising decline in revenue 

for Signet Jewelers 

Responsible Jewellery Council appoints new chairman 

grow and lead the global supply chain in setting 

standards for our industry,” he said. 

“Richline has been involved at the board and 

committee level since the beginning of the RJC, 

and as a global manufacturing company with 

retail customers around the world, we have 

helped promote the importance of the RJC as 

our singular voice for compliance standards 

since its inception.” 

He has previously served on the board of other 

industry associations, including Jewelers for 

Children Charities and the Manufacturers and 

Jewelers of America. 

The world’s largest diamond jewellery retailer, USbased 

Signet Jewelers, has reported a significant sales 

decline in the fourth quarter of the financial year. 

Revenue decreased by 6.1 per cent on a year-on-year 

comparison for the three months ending 3 February, 

achieving a total of $US2.49 billion ($AUD3.26 billion) 

in sales. 

Same-store sales at locations open for at least one 

year declined by 10 per cent. 

For the year, Signet reported a 8.6 per cent revenue 

decline, reaching $USD7.17 billion ($AUD10.87 billion) 

in sales. Same-store sales declined by 11.6 per cent, 

while net profit more than doubled to $USD810 million 

($AUD1.22 billion). 

With engagements and weddings expected to increase 

in the US over the coming years, CEO Virginia C. 

Drosos said the retailer remains well-positioned to 

succeed despite these results. 

"As we look to fiscal 2025, we are expecting sequential 

same-store sales improvement over the year as 

engagements gradually recover,” she said. 

“We believe we're positioned to win new customers 

through our marketing personalisation, growing 

consumer-inspired product newness, and aggressive 

expansion of our service business." 

On a conference call with analysts, Drosos said the 

company’s data platform now features information 

on 17 million consumers in romantic relationships. 

This will allow the company to personalise marketing 

strategies and document engagement trends. 

“Engagements reached a trough [last year],” she said. 

“We are seeing engagements recover, as we 

were expecting they would. We expect a gradual 

improvement in engagement trends over the next 

three years. It takes a bit to recover.” 

Signet owns more than 2,800 stores and oversees 

brands such as Kay Jewelers, Zales, Jared, Diamonds 

Direct, JamesAllen.com, Rocksbox, Ernest Jones, and 

Sterling Jewelers. 

The Responsible Jewellery Council (RJC) has 

appointed Dave Meleski as its new chairman. 

Maleski replaces David Bouffard of Signet 

Jewelers, who has been chair since 2018. 

Maleski is the president and CEO of the Richline 

Group, a US-based precious metals and jewellery 

manufacturer. He has served as president of the 

company since 2007. 

“It is a critical time for the RJC to continue to 

In December, the RJC confirmed that Bouffard 

would leave his position at the RJC and Signet 

Jewelers, where he has worked since 1981. 

Bouffard added: “Companies like Signet and 

Richline, along with the valued team members 

and boards of directors over the past 20 years, 

have taken the RJC from a 14-founding member 

organisation when launched in 2005 to one that 

is growing stronger each month with over 1800 

members to date.” 

RJC executive director Melanie Grant will report 

directly to Meleski. 

Leader changes course: Lightbox to experiment with 

reduced prices for lab-created diamonds 

Lab-created diamond brand Lightbox Jewelry 

will experiment with reduced prices in a bid to 

navigate challenging market conditions. 

Lightbox Jewelry is operated by the De Beers 

Group. In a report published on 22 February, 

parent company Anglo American said that 

decreased prices are expected to reinforce the 

difference between lab-created and natural 

diamonds among consumers. 

“The wholesale prices of lab-grown diamonds 

are falling sharply, leading to financial challenges 

at some leading lab-grown diamond producers,” 

the statement reads. 

“These price declines are expected to lead 

to further substantial reductions in retail 

prices, with De Beers’ Lightbox brand testing 

significantly lower prices for its products.” 

Lightbox's current model has a base price 

of $USD800 ($AUD1,226) per carat, while its 

high-end collection is priced at $USD1,500 

($AUD2,300) per carat. Lower-quality Lightbox 

Basics stones are sold for $USD600 ($AUD920) 

per carat. 

Under the test, standard products will retail at 

$USD600 ($AUD920) for loose stones, while the 

Finest line will be sold at $USD1,000 ($AUD1,533) 

per carat. 

“The test is focused on ensuring Lightbox 

reflects prevailing [lab-grown diamond] sector 

dynamics,” a spokesperson told Rapaport News. 

Lightbox was launched in 2018 and is based in 

Portland, Oregon, producing more than 200,000 

diamonds annually. 

The report referred to the ongoing ‘bifurcation’ of 

the market, as lab-created and natural diamonds 

are expected to become distinctly different 

products despite their shared characteristics. 

“It is still assumed that lab-grown diamonds will 

become clearly established as a product distinct 

from natural diamonds, as is increasingly clear in 

the market today given the significant and clear 

price and consumer-offering differential,” the 

statement reads. 

“The model forecasts an imminent bifurcation 

between lab-grown and natural-diamond product 

offerings, with only limited residual impact on the 

natural-diamond market in the medium to long 

term.” 

As recently as September, Lightbox stated that 

there would be no change to the pricing strategy. 

The brand also discontinued a range of labcreated 

diamond engagement rings, suggesting 

the model was ‘likely unsustainable.’ 


News 

New distribution partnership: 

Pierre Lannier coming to Aussie stores 

German Cuckoo Clock Nest (GCCN) has acquired exclusive distribution rights 

for Pierre Lannier watches in Australia. 

Based in Queensland, GCCN distributes a range of European clock brands to 

retail partners nationwide via its distribution network. These include Hermle, 

Engstler, Trenkle, Hekas, Comitti, Kieninger, and AMS. 

The company also has its own retail store in Tamborine Mountain and deals 

directly with consumers via an online store. 

This partnership with Pierre Lannier is a new approach for GCCN. While 

the company retails a variety of watch brands directly to consumers, this 

partnership is the first available for wholesale distribution to Australian 

retailers. 

Managing director Stefanie Wernekinck said that after a tour of the company’s 

factory, it was clear that the brand was an ideal fit. 

"We are thrilled to announce our partnership with Pierre Lannier," she told 

Jeweller. 

"Their dedication to craftsmanship and innovation mirrors our own values, 

making this collaboration a natural fit.” 

She added: “Securing the sole distributorship of Pierre Lannier watches in 

Australia reinforces our position as a premier destination for watch enthusiasts 

seeking both style and substance." 

Pierre Lannier was founded in France in 1977. The brand offers watches in a 

range of styles – including minimalist designs such as the Essential, Candide, 

and Ariane collections, as well as more extravagant pieces in the Automatic, 

Baron, and Eolia collections. 

GCCN will launch Pierre Lannier at the International Jewellery Fair (IJF) in 

Sydney later this year. 

Wernekinck said she was excited to offer visitors the chance to experience the 

artistry and precision of Pierre Lannier timepieces firsthand. 

"We look forward to unveiling the Pierre Lannier collection at the International 

Jewellery Fair," she said. 

"It presents an ideal platform to introduce these exceptional watches to the 

Australian market and establish enduring relationships with our customers." 

The IJF will take place at the International Convention Centre in Darling 

Harbour on 17-19 August. For more information about the Pierre Lannier 

collection, visit www.clocks.com.au.

10 Years Ago 

Time Machine: April 2014 

A snapshot of the industry events making headlines this time 10 years ago in Jeweller. 

Historic Headlines 

World’s largest blue diamond to be auctioned 

New trends increase colour diamond demand 

Internet only retailers start to slow 

Apple expands trademark to watches, jewellery 

Nationwide Jewellers takes time out in Tokyo 

Bevilles jewellers enters 

administration 

Jewellery retail chain Bevilles has 

entered voluntary administration, with a 

proposed business restructure being put 

forward to creditors. 

As previously reported by Jeweller, the 

80-year-old business announced a major 

rebranding late last year that included the roll 

out of “new look” stores focused on a smaller 

jewellery-only format. 

Under the model, all giftware would be 

phased out. 

Bevilles CEO Michelle Beville explained the 

new strategy – piloted in one store at Highpoint 

Shopping Centre, Victoria, and another in 

Sydney, New South Wales – was the right 

decision for the business going forward, as 

demonstrated by the two trial stores. 

Michael Hill enters new market 

Michael Hill International is branching into 

other markets with the official launch of a new 

jewellery brand and its first concept store. 

Emma & Roe specialises in a range of charms, 

bracelets, necklaces, earrings and stackable 

rings, and is a concept that has been trialled in 

five Queensland stores over the past 18 months 

under the Captured Moments brand. 

After receiving “encouraging results”, the 

company opened its first Emma & Roe concept 

store at Caneland Central Shopping Centre in 

Mackay, Queensland on 10 April. 

“Our customers are already seeing the 

fresh contemporary design of Emma & Roe 

as the next generation in charm jewellery,” 

Parsell said. 

“It’s new and exciting.” 

April 2014 

ON THE COVER BERING 

Editor’s Desk 

Create a new love affair with coloured 

diamonds 

“Jewellers often yearn for the good old 

days when business was easier and when 

everything wasn’t driven by price alone. 

They bemoan that quality takes a back 

seat to price all too often these days, 

and consumers are always looking 

for a bargain. To some extent, I agree; 

however, I am not sure if there was ever 

a time when consumers didn’t try to 

get the best price – it’s almost a natural 

human instinct.” 

Soapbox 

Spotlight on benchies 

"In the jewellery world, individuality 

relies all too often on the commodity 

value of the stones involved – 

a beautiful cabochon sapphire of 

x-carat, for example – and not on 

composition of the piece. 

If some ”extra design value” is added, 

it’s usually just a stone-setter placing 

hundreds of small diamonds in a given 

space to create the ”flower effect”. 

Seldom does the jeweller rise to the 

challenge of original creation. 

David Wheeler, The Artist Goldsmith 

STILL RELEVANT 10 YEARS ON 

Damage control isn’t difficult 

and is a critical part of social 

media. A complaint about a 

business isn’t immediately a bad 

thing but it can turn bad when 

that business responds too 

slowly or simply doesn’t respond 

at all. 

Kiwi jewellers receive royal 

treatment 

A jewellery store in New Zealand has 

been thrust into the limelight after 

supplying earrings and a necklace to the 

Duchess of Cambridge. 

The owners of Wellington-based Tory & Ko, 

Victoria Taylor and Kirstin O’Brien, contacted 

staff at Kensington Palace about providing 

jewellery for Kate Middleton to wear during the 

royal tour in New Zealand. 

O’Brien told Jeweller they were thrilled after 

receiving news that four of their jewellery 

pieces had been selected, but they had not 

been prepared for the level of media attention 

– both locally and internationally – the request 

had created. 

Synthetic diamonds detected in 

Australia 

READ ALL HEADLINES IN FULL ON 

JEWELLERMAGAZINE.COM 

In what might be the first case in Australia, a 

parcel of yellow diamonds has been identified 

as synthetic even though they were purchased 

as natural diamonds. 

Australia has been added to the list of countries 

that have reported incidents of undisclosed 

synthetic diamonds. Gem Studies Laboratory 

(GSL) detected five fancy yellow lab-created 

diamonds, sized from 20 points to 35 points, in a 

parcel that had been submitted for testing. 

According to GSL director Bill Sechos, the stones 

were sent for testing for colour treatments and 

the client had not considered that they might 

have been synthetic diamonds. 


BACK TO THE FUTURE! 

The 2024 International Jewellery Fair (IJF) will once again see the 

Australian jewellery industry united and amalgamated – all coming together under 

one roof; working for the betterment of retailers and wholesalers alike. 

Not only will the Sydney Fair feature the largest cross section of brands, suppliers, 

products and services all in ONE location, Australia’s retail buying groups – 

Independent Jewellers Collective, Nationwide and Showcase – will be present on 

the fair floor using the three-day event to connect, educate, buy and celebrate. 

UNITY! 

IJF remains the longest running annual celebration of the Australian jewellery industry 

and is an example of how everyone can collaborate, combine to improve and 

advance the industry… it’s BACK TO THE FUTURE! 

It is often said that where there is unity there is strength, and in this ever-changing 

digital world, there has never been more reasons to work together for success. 

IJF again unites those who put the success of the jewellery industry first and 

provides the best opportunity for collective success. It is where sellers and buyers 

gather under one roof at Australia’s premium purpose-built exhibition venue – 

the International Convention Centre (ICC) at Darling Harbour. 

Want to be part of this year’s celebration and festivity? Register today. 

International 






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Passionately educating the industry, gem enthusiasts 

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REVIEW 

Gems 

Gemmologists who changed the game: 

Geoffrey Arthur Tombs AM 

As Jeweller’s ‘Gemmologists who changed 

the game’ series returns its attention to 

individual accomplishments, it’s appropriate 

to reflect on the contribution of Geoffrey 

Arthur Tombs AM. 

A gifted individual who touched people’s lives 

in ways that helped them to succeed in their 

endeavours, it’s important to begin with a note 

about his father, Arthur Sandy Tombs. 

In 1943, Sandy Tombs became one of the first 

people in Australia to complete a course in 

gemmology. 

He was one of the three Gemmological 

Association of Australia (GAA) founders and 

its first chairman. Sandy’s legacy lived on 

when his son Geoff took up the gemmology 

baton and became a Fellow of the GAA. 

For more than five decades (1950s-1990s), 

Geoff Tombs served the field of gemmology in 

Australia. 

His reputation as a gemmologist with thorough 

knowledge of gemstones and their treatments 

was respected nationally and internationally. 

He shared his knowledge as a keynote speaker 

at many national and international gatherings 

and through numerous published papers. 

After many years of service as an editor of 

The Australian Gemmologist, Chairman of 

the Board of Studies, Federal President and 

President of the NSW Branch, among other 

roles, in 1988, he became the Federal Patron of 

the GAA. 

He continued to contribute to gemmology until 

he died in 2003. 

Investigative study 

His first paper in The Australian Gemmologist, 

published in 1958, documented synthetic 

diamonds observed through the microscope. 

Tombs went on to publish more than 30 articles 

in the GAA’s flagship journal. 

The two-part Geoff Tombs Memorial Issue 

(Volume 21 Nos 11-12 in 2003) began with 

a reprint of his 1975 publication ‘Notes on 

identification of Gilson synthetic opals’. 

The portrait of Geoffrey Arthur Tombs which appeared on 

the cover of The Australian Gemmologist in 2003. 

This article was significant because it was a 

practical way for gemmologists to identify a 

perceived challenge to the opal industry. 

In his paper on the heat treatment of Australian 

sapphire in this same issue, Terry Coldham 

pointed out that Tombs recognised something 

different about sapphire in 1974 and reported it 

in The Australian Gemmologist. 

Coldham believed it was heat-treated sapphire 

a few years before gemmologists knew about 

these treatments; however, Tombs recognised 

the difference and understood its importance. 

Tombs’ investigative work continued to guide 

jewellers and gemmologists. An example was in 

1971, with‘Fakes and Frauds – Caveat Emptor’, 

which meant let the buyer beware when 

soldering was completed on a jewellery piece 

containing yellow sapphires. 

The sapphire changed colour and became ‘as 

near to a cape colour diamond as may be’. 

Another example was his 1991 paper ‘Some 

comparisons between Kenyan, Australian 

and Sri Lankan Sapphires’, where he strongly 

advised against heating a sapphire in a setting. 

If the sapphire was from Kenya, it may turn 

green! 

Tombs founded the Valuers Association of 

Australia and designed a jewellery valuation 

form for retailers with his colleague 

Kenneth Mansergh. The duo advised that 

the purpose of the valuation had to be 

stipulated, whether for insurance purposes, 

retail replacement, or other purposes. 

These forms became standard practice in 

the industry and helped to reduce jewellery 

valuations being used as a marketing tool rather 

than the purpose for which they were intended. 

Legacy 

Tombs was always interested in encouraging 

people to study, furthering education, and 

conducting research in the field. 

In his honour, the Geoffrey Tombs Research 

Fund was established in 2004 with an initial 

grant from the GAA Federal Council and 

continuing contributions from the GAAendorsed 

Gem Studies Laboratory (GSL). 

Australian GAA members with a GAA Diploma 

in Gemmology or equivalent can apply for 

assistance in gemmological research. 

Geoff Tombs is rightly regarded as Australia's 

‘father of modern gemmology’. 

For his remarkable contributions to advancing 

the fields of gemmology and jewellery, Geoff was 

awarded the Member of the Order of Australia in 

the 1997 Australia Day Honours List. 

This well-deserved award went to a generous, 

humble person whose achievements should 

inspire all of us to be proud of our field and to 

work hard to make our own contributions to 

continue his legacy. 

Linda Ozmen is a Fellow of Engineers Australia and 

the Gemmological Association of Australia. 

For more information on gems and gemmology, 

visit www.gem.org.au 


ADDENDUM TO THE 

2024 STATE OF THE INDUSTRY REPORT 

Grey Areas: 

Jewellers operating without a store 

The retail landscape is constantly evolving and significant change occurred during the global 

pandemic. That was especially true for the jewellery industry, which saw some notable changes 

that required a comprehensive review of the sector. 

724 

Decline in independent 

jewellery stores in 

Australia between 

2010 and 2023. 

KEY FINDINGS: AT A GLANCE 

The change in definition 

for 'independent jewellery 

store' accounted for a 

significant amount of the 

decline documented in 

the 2024 SOIR. 

After innovative new 

business models proved 

successful during 

the pandemic, many 

jewellers opted to 

continue operating their 

business without a store. 

57.4% 

Percentage of jewellery 

stores in Australia that 

are independent. 

O ne of the most valuable components of the 

2024 State of The Industry Report (SOIR) is the 

introduction of clear distinctions for the industry’s 

many evolving sectors. 

When the first SOIR was published in 2010, it 

attempted to count the number of retail jewellery 

stores in Australia. To complete this task, definitions 

were required. 

In 2010, the definition of a jewellery retailer included 

businesses that were not ‘traditional’ stores. For 

example, the data included jewellers and designers 

who operated from what was defined as ‘upstairs 

premises’ or studios and workshops at the time. 

These businesses were colloquially referred to as 

‘upstairs jewellers’. While these businesses were 

open to the public, they typically did not carry stock. 

They are more service based, usually offering 

customers a bespoke design and manufacture of 

custom-made jewellery service. 

This term also encompassed jewellery and watch 

repair businesses. 

In the 13 years since that report, the industry has 

evolved significantly. This evolution can largely be 

attributed to two key events: the rise of social media 

and the COVID-19 pandemic. 

Understanding these various businesses and their 

differing characteristics and attributes is crucial 

when completing an industry study of this nature. 

The 2024 report refined various definitions to 

keep up with industry changes and record a more 

accurate reading of the current retail landscape. 

For that reason, the definition of a ‘jewellery store’ 

now better matches government descriptions and 

legislation and is as follows: 

A jewellery store is a physical retail premises. 

This does not include any area intended for use 

as a residence. These stores are usually located on 

a high street or shopping centre. Under the terms of 

the lease, they are used wholly or predominantly for 

the sale of jewellery and watches to consumers. 


The business must be readily available for the public 

to visit during business hours. No appointment is 

necessary. The business must carry stock readily 

available for purchase when a customer visits; that 

is, the item does not subsequently need to be made/ 

manufactured. 

As an unintended consequence, this change in 

definition contributed to the documented overall 

decline in independent jewellery stores between 

2010 and 2024. 

That is, many businesses considered independent 

jewellery retailers in the 2010 report were no longer 

regarded as ’stores’ in 2024, regardless of whether 

or not the business is still trading. 

These businesses – between 150-200 - have been 

redefined as ‘Retailer – No Storefront’ (see below). 

The latest report found that between 2010 and 2023, 

there was a decline of around 700 independent 

stores - about 25 per cent of the market; however, 

this includes the redefined businesses. 

Jeweller estimates that this change in definition 

contributed to the ‘loss’ of between 150 and 200 

businesses from the overall count. 

Retailer - No Storefront 

Retailers operating without a traditional storefront 

remain an important part of the Australian jewellery 

industry and, as mentioned, have been labelled 

‘Retailer – No Storefront’. 

They are defined as follows: 

A business that sells jewellery and/or watches 

to consumers and does not operate from a 

jewellery store. These include jewellery designers 

and manufacturing (bench) jewellers operating 

from professional workshops or studios. 

They are often located in CBD buildings, which can 

be visited by the public, typically by appointment. 

They may also operate out of residential premises. 

Normally, these businesses do not carry stock 

and often deal in niche markets and custommade 

products. 

It seems simple enough, right? Well, there’s an issue 

with this definition. It’s what’s known as a ‘negation’ 

or an ‘apophasis’—language that defines the object 

by what it is not rather than by what it is. 

So, what is a Retailer – No Storefront? For this 

report, Jeweller has divided the category into five 

different categories. 

Some of these categories have overlapping 

characteristics; however, the only thing that unites 

all five is that they are jewellery businesses that 

operate without a traditional store. 

• Studio/Workshop - Bench Jewellers and Designers 

These businesses sell jewellery and/or watches 

to consumers and operate from a (leased/rented) 

studio or workshop space. 

Typically, these businesses do not carry stock 

and often deal in niche markets and custommade 

products. 

In major metropolitan areas, these jewellers are 

often located in CBD buildings, which can be visited 

by the public; however, these visits may require an 

appointment in advance. 

Examples would be the many jewellers operating 

from the Century and Manchester buildings in 

Melbourne and the Dymocks and Trust buildings 

in Sydney. 

There are also studio and workshop jewellers 

that operate outside of the capital city CBD areas, 

particularly in Queensland. 

The key point to be understood is that these are 

commercial premises. 

Whether the space is considered a ‘workshop’ or 

a ‘studio’ depends entirely on how the jeweller 

views or markets their business. 

While a workshop implies a focus on practical and 

technical knowledge and work, a studio is usually 

associated with design and artistic exploration while 

creating original works. 

In practice, they mean the same thing. One person’s 

workshop is another’s studio!


JEWELLERS WITHOUT STOREFRONTS 

RETAILER 

STORE 

RETAILER 

NO STOREFRONT 

INDEPENDENTS 

CHAIN STORE 

BRAND-ONLY 

BENCH JEWELLER/ 

DESIGNER 

SHOWROOM 

SERVICES & REPAIRS 

ONLINE-ONLY 

Fine Jewellery 

Fine Jewellery 

Jewellery 

Studio / Workshop 

Jewellery 

Fashion Jewellery 

Fashion Jewellery 

Watches 

Home-based Business 

Watches 

Approximately 3,500 stores; 95 per cent of industry revenue 

Approximately 200 businesses; 5 per cent of industry revenue 

CHART A - REDEFINING THE CATEGORIES: Unlike the 2010 State of the Industry Report (SOIR), the 2024 report excluded a number of retail jewellery businesses from the 'store count'. This exacerbated the 

decline in store numbers to 24 per cent. While manufacturing (bench) jewellers and designers dealing with the public (consumers) - as well as watch and jewellery repair businesses - have always existed, this side 

of the industry has greatly evolved. This is in large part due to the COVID-19 pandemic, which called for a redefinition of a number of retail categories. Only the first three blue categories are now defined as 

retail jewellery stores for the purpose of the SOIR: A jewellery store is a physical retail premises usually located on a high street or in a shopping centre. It is worth noting that the three categories shown in blue 

include more than 3,500 stores and are estimated to account for around 95 per cent of all industry revenue. The remaining four orange categories account for between 150-200 businesses nationally, and while an 

integral part of the industry, revenue is comparatively less significant. 

• Home-Based Bench Jewellers and Designers 

These businesses sell jewellery and/or watches to 

consumers and operate from a residential property. 

The business owner may consider this workspace a 

‘studio’ or ‘workshop’; however, the critical distinction 

is that one jeweller is based on commercial premises 

and the other residential. 

Therefore, a consumer (member of the public) will 

have a different mindset when visiting a jeweller’s 

home than when visiting a jeweller’s workshop or 

studio in the city. 

With that said, this category of retail business shares 

many characteristics with the first, namely that they 

do not carry stock and tend to deal in niche markets 

and custom-made products. 

• Showroom Jewellers (By Appointment) 

Over the past decade, the term ‘showroom’ has gained 

prominence in the industry. 

Showrooms are usually located in CBD locations; 

however, they typically do not have an onsite studio or 

workshop or employ manufacturing bench jewellers. 

Showrooms specialise in sales and typically only 

employ sales staff. 

Any manufacturing work will be done off-site, often 

by ‘contracted’ bench jewellers. 

Traditionally, the term showroom has been used to 

describe a transaction in which a customer views 

products and orders the items to be delivered or 

collected later. 

It is also typically used in business-to-business 

transactions rather than consumer retailing. 

That is, a showroom does not typically entail a 

business carrying stock that a consumer purchases 

directly off the shelf. 

Showrooms can also operate virtually under a serviced 

office arrangement, without staff or stock. 

• Jewellery/Watch Repairs and Services 

These businesses offer services focused almost 

exclusively on repairs and remodelling. They operate 

from either residential or commercial premises. 

While many jewellers—both with and without stores— 

offer services such as repairs and remodelling as part 

of their overall business model, a select few focus 

exclusively on these offerings. 

That said, these jewellers have little, if any, new 

jewellery or watch products directly for sale to 

consumers — the business is predominantly focused 

on technical labour. 

• Online Retailers 

These businesses promote and sell jewellery and/ 

or watches to consumers via a website or third-party 

platforms such as Facebook, Instagram, Etsy, and 

other social media channels. 

Online retailers tend to trade exclusively in finished 

jewellery and typically do not employ a manufacturing 

bench jeweller. 

It could be argued that they have more in common 

with suppliers than independent jewellery retailers 

in that they are likely to operate from a warehouse 

or office. 

What’s changed? 

While no storefront jewellery business is not a 

new phenomenon, the COVID-19 pandemic 

motivated and hastened significant change. 

These changes are heavily reflected in the evolution 

of the Retailer – No Storefront category. 

During the pandemic, there was an increased 

commitment to digital marketing, with social 

media platforms utilised to reach customers 

locked in their homes. 

Embracing change was also particularly enticing 

for jewellery businesses that were only marginally 

profitable before the pandemic. 

Anecdotal evidence suggests that many high-street 

jewellers used the pandemic to exit unattractive 

leasing agreements. 

At the time, this ‘scaling down’ of the business 

was a necessity due to the trading conditions of 

the pandemic; however, for jewellers who achieved 

success under this new model, they soon had an 

important question to answer. Should they reopen 

their store? 

That is to say, if your business struggled before the 

pandemic and then discovered success with a new 

lower-cost model during lockdowns, would you bother 

to return to a bricks-and-mortar store, just because 

the pandemic is over? 

The answer is probably not! 

A new generation 

These same conditions also encouraged the birth 

of many new jewellery businesses that did not exist 

before the pandemic yet operate under the same 

Retailer – No Storefront model. 

In some cases, the pandemic allowed those 

passionate about jewellery - who otherwise worked 

in other fields full-time - to launch a new business 

for the first time. 

There are many examples of this; however, they 

usually follow a similar formula. Someone interested 

in jewellery manufacturing finds themselves out of 

work due to the pandemic. 

During that time, they focused on creating jewellery, 

launched social media accounts to market their 

creations, and then joined an e-commerce platform 

to finalise sales. 

As sales continued to roll on after the end of the 

pandemic, the jewellery business continued— 

sometimes with the inclusion of a physical store, 

but not often. If it ain’t broke, don’t fix it! 

There is also anecdotal evidence to suggest that 

many of these new businesses that opened in the 

past few years came about after manufacturing 

(bench) jewellers chose to ‘go it alone’. 

In some cases, this could also be attributed to the 

pandemic. These jewellers may have already been 

employed by a store that closed due to the pandemic. 

These jewellers then decided to continue earning a 

living using their designing and manufacturing skills 

— this time as sole traders rather than as employees. 

Younger tradespeople, more attuned to social media 

strategy and marketing, took their skills and started 

sole trader businesses, creating attractive websites to 

promote their skills and expertise. 

The decline in costs associated with the digital tools 

and services required to run a business, such as 

payment gateways and accounting programs, reduces 

the risks associated with running your own business. 

The same could be said for access to industry-specific 

technology, such as CAD/CAM. Decreased cost and 

increased availability mean less risk for sole traders. 

Given the trends towards custom-made and 

bespoke jewellery, this became an even more 

attractive prospect. 



JEWELLERS WITHOUT STOREFRONTS 

No longer is there a need to be located in high-traffic 

shopping centres or suburban high streets if you 

operate a destination business — one that customers 

will happily travel to. 

For those who performed well during the pandemic 

and remained successful after its conclusion, there 

was no need to return to a traditional retail store. 

Satellite showrooms 

While the market always determines how an 

industry evolves – as, they say, necessity is the 

mother of invention – it’s fair to say that not all 

change has been positive. 

Jeweller noticed an increasing trend during the 

six-month research phase of this report, which 

was labelled ‘satellite showrooms’. 

As detailed above, the showroom-style jewellery 

business existed before the pandemic, and there’s 

nothing ‘wrong’ with this approach to doing business. 

With that said, the pandemic also encouraged several 

questionable practices. Some of these jewellers are 

now advertising and promoting their businesses in a 

misleading or deceptive manner. 

For example, Jeweller has observed many examples 

of new businesses without storefronts marketed 

as having showrooms in all or many of Australia’s 

capital cities. 

The problem is that in many cases, these showrooms 

don’t exist; they are often ‘virtual offices’ with no staff, 

operated from a serviced office arrangement. 

The business often lists the phone number of its head 

office or may have a local phone number, which is 

redirected, unbeknownst to the customer, who thinks 

they are dealing with an employee in their city. 

These businesses will offer a virtual appointment 

with their ‘highly specialised jewellers’ based in the 

head office. In other words, the ‘interstate showroom’ 

is nothing but a digital facade! 

The trend is more evident post-COVID because 

technology has dramatically improved in the past 

few years, and consumers have become accustomed 

to not visiting stores. 

With CBD rents crashing during the pandemic, 

establishing the ‘appearance’ of a jewellery showroom 

in other capital cities has become less expensive. 

This facade is suitable for jewellery as it is a highmargin 

product. 

In other words, the additional cost of renting a small 

interstate office, either as a physical location or a 

serviced office, could be far outweighed by the sale 

of a single piece of fine jewellery. 

Closing remarks 

With lockdowns in place and jewellery stores across 

much of Australia closed for the better part of two 

years, many jewellers were forced to alter their 

business to make ends meet. 

The COVID-19 pandemic and the rise of social media 

as a viable avenue for business acted as a ‘onetwo 

punch’ for the jewellery trade, working handin-hand 

to change the nature of the industry’s 

peripheral figures. 

While the trading conditions of the pandemic forced 

change upon businesses with physical stores, and a 

IN A SNAPSHOT 

Redefining the Industry 

RETAIL STORE 

Independents 

A jewellery business that is not part of a chain. 

More often than not, these businesses operate 

from a single store. These stores are often 

‘family-owned’ businesses. 

RETAIL STORE 

Chains 

A group of five or more fine or fashion 

jewellery stores trading under a single (brand) 

name, with one ownership entity – either 

person or company - coordinating buying and 

marketing activities across the group. 

RETAIL STORE 

Brand-Only Stores 

(REFER TO CHART A) 

One or more fine or fashion jewellery stores 

that market and sell its own brand of jewellery 

and/or watches. Usually a vertical-market 

operation, these stores do not utilise local 

suppliers and do not distribute to third-party 

stockists on a large scale. 

RETAILER - NO STOREFRONT 

Studio/Workshop Bench Jewellers & Designers 


to consumers and operate from a (leased/ 

rented) studio or workshop space. Whether 

the space is considered a ‘workshop’ or a 

‘studio’ depends entirely on how the jeweller 

views or markets their business. 


Home-Based Bench Jewellers & Designers 


to consumers and operate from a residential 

property. Typically, these businesses do not 

carry stock and often deal in niche markets 

and custom-made products. 


Showroom 

A business that promotes itself as a 

‘showroom’ in CBD locations without 

an onsite workshop or studio. Usually, 

a showroom business will not employ 

manufacturing (bench) jewellers and may only 

have sales staff. 


Online Retailers 

These businesses promote and sell jewellery 

and/or watches to consumers via a website 

or third-party platforms such as Facebook, 

Instagram, Etsy, and other social media 

channels. 


Services, Repairs, & Remodelling 

These businesses offer services focused 

almost exclusively on repairs and remodelling. 

They operate from either residential or 

commercial premises. 

lack of employment opportunities encouraged others 

to take the leap into jewellery for the first time, the 

common denominator was always the internet. 

Research by IBM Data has suggested the pandemic 

accelerated this shift to e-commerce by around 

five years. This has forced retailers to rethink their 

operations quickly. 

The emergence of ‘click and collect’ services is one 

of many examples. Consumer demographics and 

shopping behaviour also changed significantly. 

Older consumers embraced online shopping 

during the pandemic, and these habits have 

continued despite its conclusion. 

These changes are not only reflected in the jewellery 

industry; many retailers have transformed the layouts 

of their stores to reflect new consumer expectations. 

When we think of a traditional map of the jewellery 

industry, we naturally focus on the relationship 

between suppliers/wholesalers and retailers, 

whether independent or chain stores. 

The landscape has changed significantly for retailers 

operating without a storefront in recent years. 

Following the pandemic, this model is more viable 

than ever, driven by increased consumer access via 

social media and the internet. 

The success of these Retailer – No Storefront 

businesses during and following the pandemic is also 

another timely reminder that the observation of store 

closures is not a ‘red flag’ for the wider industry. 

Just as trends come and go, so do jewellery 

businesses and stores. As long as consumer 

interest in jewellery and watch products remains 

high, there's little cause for concern - despite the 

decline in independent stores. 

Alternatively, if consumer sales do not decrease while 

a significant number of stores closed, it could be 

argued that it creates a healthier industry – the same 

revenue is divided by fewer (stronger) businesses. 

As has been said many times in the 2024 SOIR, 

everything is a matter of perspective. 

SOIR ADDENDUM EXPLAINED 

This article is an addendum to the State of the Industry 

Report 

published in December 2023. The purpose of the 

six-month study into the Australian jewellery industry is 

two-fold – it’s a historical document offering an in-depth 

examination of the trade from which a glimpse of the future 

may be obtained. 

As is often the case with studies of this nature, the research 

often uncovers unexpected insights. These include significant 

changes due to advances in technology, the evolution of 

consumer habits and expectations, and the unforeseen 

impact of an unprecedented global pandemic. 

In some cases, the space allocated to specific sections of the 

report was insufficient because of the additional detail and 

information obtained. This article is one such case where it 

was noted that a significant amount of jewellery businesses 

have begun operating without the use of a traditional store as 

a result of the pandemic and technological advances. 

There is a host of additional information uncovered during 

the SOIR research period, which was also unable to be 

included in the initial report due to space and time limitations. 

Jeweller 

will continue to publish addendums to the SOIR to 

analyse and clarify an ever-changing industry. 


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ADVERTISING FEATURE 

April Buying Guide 

Time for change? 

Looking for the next 'big thing' to stock in your 

jewellery store? You've come to the right place. 

Jeweller 

has compiled a Buying Guide packed with 

the latest releases and new collections from 

Australia's industry leading suppliers.

2024 | APRIL BUYING GUIDE 

Adidas 

DESIGNA ACCESORIES 

designaaccessories.com.au/brands/adidas 

Dive into the trendsetting fusion of style and 

sustainability with the Adidas Retro Wave Two 

watch, where retro aesthetics meet modern 

sustainable innovation. This timepiece features 

a 37mm white eco-ceramic case with a 

corresponding white dial and a stunning white 

bio-resin strap, providing a comfortable fit and 

sporty aesthetic. 

August Berg 


designaaccessories.com.au/brands/august-berg 

This new collection reflects the value of 

craftspersonship and beauty first espoused by 

William Morris. The double rose gold case in 

30mm, made of pure high-quality surgical grade 

stainless steel (316L) is paired with an Italian 

leather Woad Blue strap. The delicate crown 

features an engraved "AB-infinity logo, completing 

an elegant look. 

ADTC 

adtc.com.au 

BECKS 

becksgroup.au 

ADTC offers a range of tennis 

bracelets and necklaces 

set in beautifully crafted 

18-carat white and yellow gold 

mountings. 

Australian sapphires and 

diamonds – the perfect fusion 

between a love for Australian 

metals and fine craft. Proudly 

crafted in the BECKS South 

Australian studio, these sapphire 

and diamond rings embody the 

unique beauty of Australia’s 

natural treasures. 

ADTC presents a variety of stunning 

wedding bands featuring round 

brilliant and fancy-cut diamonds. 

The selection provides retailers 

with exquisite options and hasslefree 

service. With unmatched 

beauty and quality, ADTC offers 

retailers exceptional pieces to meet 

customer demands. 

The BECKS range of Tantalum 

rings are a modern and sleek 

take on the classics. These rings 

are hypoallergenic and highly 

resistant to tarnish and scratches 

– perfect for today’s busy lifestyle. 


APRIL BUYING GUIDE | 2024 

Blumoon 

blumoon.com.au 

Blumoon is dedicated to sourcing 

exquisite fancy-colour diamonds, 

each chosen for its brilliance and 

allure. The company's mission is to 

offer customers unparalleled access 

to these stunning diamonds at 

prices that make luxury attainable. 

Ellendale Diamonds 

ellendalediamonds.com.au 

Discover Ellendale Diamonds's new 

premium jewellery line, capturing 

Australia’s natural beauty. Crafted 

from the finest Australian gold, 

each piece features exquisite 

pink diamonds sourced from the 

prestigious Argyle mine in Western 

Australia. 

BluMoon Diamonds is thrilled to unveil its 

latest additions: an emerald tennis bracelet 

and oval eternity ring featuring calibrated 

diamonds boasting D to E colour and VVS 

clarity. These stunning pieces epitomize 

luxury and sophistication, perfect for those 

who appreciate unparalleled beauty and 

craftsmanship. 

Furla 


designaaccessories.com.au/brands/furla 

Calvin Klein 

MGDL 

mgdldistribution.com.au 

Luxurious timekeeping defines this new 

Furla silhouette with an elegant bracelet 

setting and deep forest green sunray 

35mm dial, subtly printed with the iconic 

Furla Arch logo in a discreet pattern. 

Bright white crystals set in gold-toned 

stations mark the hours, mirrored by the 

12-sided bezel in brushed gold-tone steel. 

This watch from Calvin Klein features 

a repeated modern coin-edge texture 

on the bezel for an elevated look. 

It continues down the centre of its 

softly sculpted bracelet, links with 

an elegant and minimalistic sunray 

dial. Superior craftsmanship meets 

effortless, timeless styling. Also 

available in gold-tone and two-tone. 

Gerrim 

gerrim.com 

Classique 

SAMS GROUP AUSTRALIA 

classiquewatches.com 

Elegant and enchanting, Gerrim 

International’s Exquisite Emerald 

Collection features natural 

emeralds adorned with diamonds. 

These rings exude sophistication 

and timeless beauty. They are 

available in nine-carat yellow or 

white Gold. 

This piece from Classique is adorned 

with sapphire crystal and powered by 

Swiss Quartz Movement. Personalise 

the look with a wide selection of dial 

designs that cater to unique tastes. 

With matching options for both men 

and women, the Carson Watch is a 

symbol of timeless sophistication for 

any occasion. 



Hugo Boss 

MGDL 


BOSS puts its iconic stamp on 

the classic pilot’s watch with 

the Skytraveller, a sporty and 

sophisticated chronograph with 

a date function. The modern 

timepiece boasts a host of 

exciting design details, including a 

prominent, diamond-cut reflector 

ring, CD-cut sub-eyes at 12 and 

6 o’clock, and elegant tapered 

indexes with chamfered edges. 

K & K 

K&K presents a diverse selection 

of natural champagne and 

cognac diamonds, featuring a 

variety of hues and exquisite 

fancy cuts. Every stone undergoes 

meticulous inspection to uphold 

stringent standards for quality 

and authenticity. With elegant 

champagne tones and rich 

cognac shades, K&K provides 

a stunning array to meet the 

discerning needs of customers. 

Ikecho 

Ikecho.com 

The Aurelia Earrings are a 

testament to the allure of natural 

Golden South Sea pearls. Crafted 

from nine-carat yellow gold, 

these earrings showcase the pure 

beauty of one of the largest and 

most valuable pearls. Sourced 

from the gold-lip variety of the 

Pinctada Maxima South Sea pearl 

and embellished with drop-shaped 

pearls, each boasting an AA grade, 

these earrings exude elegance. 

With an extensive range of 

Brazilian emeralds, K&K’s 

collection reflects a steadfast 

dedication to quality and 

sustainability. As a highlight of 

the collection, this breathtaking 

oval emerald boasts exceptional 

colour. 

The Eleanor Glasses Chain is a 

sophisticated accessory that merges 

elegance and practicality. Crafted 

with freshwater cultured pearls in a 

pristine white hue, each boasting a 

unique Keshi shape ranging from 5 

to 5.5mm in size, this AA-grade chain 

ensures your eyewear is always 

within reach with a length of 70cm. 

KL Diamonds 

kldiamonds.com.au 

KL Diamonds offers an impressive 

range of Argyle pink diamonds. 

This single 0.62-carat radiant-cut 

pink diamond is graded by the GIA 

as natural fancy intense pink with 

clarity included in class three. KL 

Diamonds is also a specialised 

jewellery manufacturer. 

Crafted from sterling silver and 

rhodium plated for enduring 

beauty, the Sybil Ring features 

a single band that gracefully 

wraps around a lustrous white 

freshwater button pearl. The 

pearl measures 10-11mm 

and is accented with sparkling 

cubic zirconia. 

Another sparkling gift from the 

outback of Australia — offered by 

KL Diamonds — is a 0.19-carat pink 

diamond from the Argyle, graded four 

purplish-pink with clarity graded as 

'included' class one. At KL Diamonds, 

you can select, design, and custommake 

your unique jewellery with the 

professional team based in Sydney, 

dedicated to helping every customer's 

dreams come true. 


Discover the beauty of La 

Couronne’s created opal collection, 

featuring stunning earrings, rings, 

and pendants set in luxurious 

nine-carat gold. Opal is known 

for its play-of-colour, revealing a 

kaleidoscope of hues that shimmer 

with every movement. These unique 

characteristics have earned it a 

place as one of the most enchanting 

gemstones in the world. 


La Couronne 

lacouronnejewellery.com.au 

La Couronne’s extensive nine-carat 

gold collection features yellow, 

white and rose gold designs. 

Order the best-selling nine-carat 

gold diamond heart pendants and 

explore a range of earrings, rings, 

necklaces, bracelets, pendants and 

more. 

Labanda 

labanda.com.au 

Servicing both the watch and 

jewellery industries, Labanda 

is an Australian supplier 

specialising in high-quality tools 

and equipment and takes pride in 

offering exceptional service. 

Orange River 

orangeriver.com.au 

Maxum 


designaaccessories.com.au/brands/maxum 

Outsource your jewellery 

manufacturing with Orange River. 

Orange River offers bespoke 

and mass manufacturing of 

fine jewellery for retailers at 

competitive rates. 

Reap the benefits of a carefully crafted 

timepiece that values functionality without 

sacrificing fashionability. This Maxum Tide 

Watch understands that timing is everything 

when it comes to the ocean. 



Oro Bello 

halosleepers.com 

Halo Sleepers offers an extensive 

range of Sleepers crafted from 

sterling silver, nine-carat gold, 

titanium, and surgical steel, 

available in various sizes, designs, 

and colours. Each Halo Sleeper 

is meticulously crafted using 

top-quality materials, ensuring a 

flawless finish. 

Pink Kimberley Diamonds 


pinkkimberley.com.au 

Blush Pink earrings radiate a timeless beauty 

that complements any occasion with grace and 

elegance. Adorned with a charming assembly 

of light pink Argyle diamonds, glistening white 

diamonds, and a mix of premium gold, each 

design is meticulously crafted to capture 

attention while retaining a delicate touch. 

Ringers Western 


ringerswestern.com 

Ringers Western bespoke jewellery 

includes the Tessa earrings in gold 

as a simple stud with the beloved 

Signature Bull. A perfect match with 

any Ringers Western wear, from 

jeans to dresses. 

Packamate Limited 

packamate.com / shop.packamate.com 

Discover Packamate's luxury jewellery 

boxes, storage solutions, and organisers, 

designed to protect and showcase your 

precious pieces with elegance. With 

customisable designs, each box is 

tailored to unique tastes. 

Rosefield 


designaaccessories.com.au/brands/rosefield 

Experience a completely new aesthetic with the 

Heirloom watch from Rosefield. The thicker 

gold-tone rectangular case and dual finishes 

on the white dial are sophisticated, and the 

mini links on the gold bracelet add a feminine 

touch and are easily adjustable with a sliding 

closure. 

Keep collections inside 

Packamate's stylish jewellery 

organisers featuring various 

compartments and holders. 

Experience convenience and 

sophistication with our exquisite 

jewellery storage solutions. 

Sapphire Dreams 


sapphiredreams.com.au 

A bold, striking pendant displaying 

a unique arrangement of blue 

sapphires and white diamonds, 

Harper from Sapphire Dreams is 

unforgettable. 



Stones & Silver 

stonesandsilver.com.au 

Classic and timeless, this beautiful 

.925 sterling silver functional locket 

from Stones & Silver features the 

sparkle of the cubic zirconia stone 

on a 40cm + 5cm extension chain. 

Also available in yellow gold plated 

over .925 sterling silver. 

TIMEX 


designaaccessories.com.au/brands/timex 

The Timex Marlin Chronograph Tachymeter 

is the first chronograph in the Marlin line 

and is powered by a quartz movement. This 

detailed rendition features a tachymeter 

index, a unique date window placement, 

and a perforated natural brown leather 

strap. It retains the classic Marlin features, 

including a sturdy stainless-steel case, 

domed acrylic crystal lens, and vintagecoloured 

dial. 

Set in .925 sterling silver with 

brass and copper accents, 

this beautiful spinner, anxiety, 

or meditation ring from 

Stones & Silver is the perfect 

addition to your collection. 

These rings can be very 

useful for stress and anxiety 

relief as the physical spinning 

of the rings can help to calm 

the body and mind. 

Tommy Hilfiger 

MGDL 


The latest trend in earrings 

these Stones & Silver .925 

sterling silver flower earrings 

have a soft brushed finish with 

a shepherd kook and a 30mm 

drop. These earrings are also 

available in yellow gold plated 

over .925 sterling silver. 

The TH85 is characterised by an 

elevated watch design featuring a 

40mm case on a solid three-link 

stainless steel bracelet. Durable 

and reliable, it is water resistant 

to 100 meters (10ATM). Thoughtful 

details are shown through the TH 

Monogram engraved on the crown 

and an exhibition case exposing 

the exceptional quality of Japanese 

automatic movement. 

Worth & Douglas 

wdrings.com 

Ted Baker 


designaaccessories.com.au/ted-baker 

Fresh new designs to the Worth 

& Douglas and ZiRO collections 

offer a sophisticated tri-tone 

look. Crafted in yellow, white, or 

rose gold with black zirconium, 

these rings feature unique 

patterns that cater to a variety 

of tastes. 

The Tessye collection is a sure way to add 

a chic touch to every outfit. A petite 17mm 

rose gold rectangle case with a rose gold 

dial and crystal detailing is linked to a 

rose gold stainless steel chain, adding a 

feminine touch to any wrist. 



FEATURE 

Pink Promises 

CELEBRATING THE BEST OF THE BEST 

Just as an artist works with the best available materials, 

jewellers enjoy creating jewellery with rare and elusive 

diamonds and gemstones. SAMUEL ORD speaks with 

jewellers about their passion for pink diamonds. 

Calleija

PINK BUTTERFLY BROOCH 

HARTMANN'S 

THE ETERNAL PINK 

DIACORE 

THE PINK LAKE RING 

LINNEY'S 

F 

rom buried deep within the 

Earth’s surface and into stores and 

private collections worldwide, pink 

diamonds have captured the hearts and 

minds of jewellery designers and consumers. 

Remarkably rare, startlingly valuable, and 

uniquely Australian, pink diamonds remain 

unrivalled symbols of luxury. 

When it comes to the desire for luxury jewellery, 

pink diamonds have been a ‘perfect recipe’ for 

success; however, as is the case with any recipe, 

it’s important to understand the value of each 

ingredient. 

In November 2020, the Argyle Diamond Mine 

in Western Australia was closed after 40 years 

of operation. Among the 20 million carats of 

diamond rough extracted each year from the 

mine, a fraction of a single per cent were pink. 

Despite the rarity of these stones, the Argyle 

mine still accounted for more than 90 per cent 

of the world’s pink diamonds. While larger pink 

diamonds tend to be sourced from outside 

Australia, most of the world’s highest-quality 

stones were extracted from the Argyle. 

Before the pandemic, demand for pink diamonds 

was already high, largely due to the associated 

marketing and promotional efforts of the Argyle 

Mine; however, after the mine's closure — and 

with the world’s leading source of pink diamonds 

closed — popularity soared. 

In recent years, pink diamonds and pink diamond 

jewellery have continued to make waves at 

high-profile auctions. In the past year alone, 

the following sales occurred: 

At Sotheby’s in New York, the Eternal Pink was 

sold for $USD34.8 million ($AUD53.35 million). 

The cushion mixed-cut fancy vivid purplish pink 

diamond weighs 10.57 carats and is set in a ring 

flanked by trapezoid-shaped diamonds. 

Remarkably rare, startlingly 

valuable, and uniquely 

Australian, pink diamonds 

remain unrivalled symbols 

of luxury. 

At Phillips in Geneva, a ring set with a cutcornered 

rectangular modified brilliant-cut fancy 

intense pink, VVS1 clarity pink diamond weighing 

20.19 carats, accented with baguette diamonds, 

was sold for $USD13.7 million ($AUD21 million). 

At Sotheby’s in Hong Kong, a ring set with a 

cut-cornered modified brilliant-cut fancy intense 

pink diamond weighing 21.94 carats was sold for 

$USD11.94 million ($AUD18.3 million). 

At Christie’s in Hong Kong, the Pink Supreme 

Diamond 

– a ring featuring an internally flawless 

fancy intense pink cushion-cut diamond of 15.48 

carats set in gold - was sold for $USD10.75 

million ($AUD16.48 million). 

The success of this pink diamond jewellery at 

international auctions further highlights the 

appeal these unique stones have not only among 

Australian consumers but also the wider world. 

Origin story 

Jewellery designers take great pride in the pieces 

they create. With the international spotlight still 

firmly on pink diamonds, it should be no surprise 

that these artisans ‘bring out the big guns’ when 

it comes to these stones. 

A select few have been appointed as Argyle Pink 

Diamonds Select Ateliers – a small circle of 

master jewellers entrusted with the legacy of 

pink diamonds. 

Fuelled by civic pride and the understanding that 

these pieces will be viewed alongside some of the 

world’s most valuable and extravagant jewellery, 

these designers are willing to spend exhaustive 

hours ensuring that each piece is perfect. 

The Australian origins of pink diamonds have 

long been important to Justin Linney, creative 

director of Linney’s in Western Australia. 

Linneys is a family-owned manufacturing 

jeweller established in 1972, with a design studio 

located in Subiaco. He says that as a jewellery 

manufacturer, the business always intends to 

source the finest materials from WA – and pink 

diamonds suit that philosophy. 

When asked if there were any pink diamond 

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jewellery pieces he was particularly proud of, 

Linney quickly pointed to the Pink Lake Ring. 

The piece features a 0.25-carat Argyle pink 

diamond with a medley of white diamonds, 

platinum, and white gold. 

“The Pink Lake Ring is one of my personal 

favourite pieces from our Artisan Collection for 

the contrast of colour and its Linneys signature 

freeform design,” he tells Jeweller. 

“It is one of 50 one-of-a-kind creations from 

our Artisan Series Collection, each adorned 

with an Argyle pink diamond and handcrafted 

at our Subiaco workshop by Alan Linney and 

our master jewellers.” 

It was a similar story for Kimberley Fine Diamonds, 

established in 1991 by Frauke Bolten-Boshammer 

and located close to the Argyle Mine. 

Kimberley Fine Diamonds proudly considers 

itself Australia’s ‘most remote diamond house’. 

The business crafts jewellery that reflects the 

colours and contrasts of the state’s outback 

wilderness. 

When asked about her favourite piece, Bolten- 

Boshammer provided an 18-carat white gold ring 

set with a 0.33-carat pink champagne baguette 

diamond. Two white baguette diamonds of 

0.33-carat combined weight complete the piece. 

She says she loves the sleek lines of the 

baguette diamonds and the soft tone of the 

pink champagne. The rarity and size of the pink 

diamond are, of course, an added bonus. 

History lesson 

Many Australian jewellers have had long and storied 

connections with pink diamonds – among them is 

Olivar Musson of Musson Jewellers in Sydney. 

The family behind the business recently 

celebrated its 50th anniversary, marking the 

moment with the release of the Diavik Midnight 

Sun - featuring a hero 18.08-carat fancy intense 

yellow oval diamond set into a ring featuring a 

bouquet of 4.09-carats of pink diamonds. 

Beginning with audacity 

is a great part of the art of 

painting, and describing 

many of these pieces as 

audacious may indeed be 

an understatement. 

Musson was eager to rewind the clock to 

2012 and discuss the Satine Angel, featuring a 

1.02-carat fancy intense purplish pink cushioncut 

diamond. This stone was Lot 2 of Argyle’s 

2012 International Diamond Tender. 

“Our creation – the Satine Angel - emerged 

as a testament to the fusion of exquisite 

craftsmanship and visionary design,” he explains. 

“Crafted more than a decade ago, this bespoke 

design features Satine set east-west across 

the finger, framed by claw-set clusters of 

pear-shaped white diamonds, evoking the 

ethereal beauty of angel wings. Its timeless 

elegance transcends eras, reflecting the evolving 

landscape of engagement ring trends and 

popular setting styles in 2024.” 

He continues: “Satine Angel remains a cherished 

masterpiece in our Argyle Pink Diamond archive, 

a reflection of our ability to create enduring 

works of art that will capture hearts and inspire 

awe for generations to come.” 

Also based in Sydney is House of Cerrone, 

operating Australia’s largest handmade jewellery 

workshop, elevating the next generation of 

artisans with apprenticeship programs. 

When contacted for this story, Dominique 

Cerrone drew attention to the Heart of 

Trastevere, a ring inspired by the tree 

branches in a town in Rome. 

The ring includes a 0.82-carat SI2 Argyle 

princess cut diamond, a 0.90-carat D VVS2 ovalshaped 

diamond and a 0.82-carat D VS1 heartshaped 

diamond in a claw setting. Each stone is 

set in 18-carat rose gold. 

Cerrone describes the ring as "a harmonious 

merger of nature and opulence, exuding an 

enduring sense of beauty and refinement." 

Another Australian retailer with a long connection 

with pink diamonds is Hardy Brothers, founded in 

Sydney in 1853 and based in Brisbane today. 

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Wallace Bishop purchased Hardy Brothers in 1997 and has five stores in 

Australia today. Chief operating officer Alexander Bishop says his favourite 

is a ring designed by CEO Stuart Bishop for the Vault Collection. 

A 0.50-carat fancy intense Argyle pink diamond from Lot 12 is set east-to-west 

and surrounded by a halo of pink diamonds in 18-carat rose gold. The centre 

stone sits atop white Asscher cut diamonds in an 18-carat white gold band. 

“Aside from the ring's breathtaking beauty, we love how the modern design 

and cut of the diamonds seamlessly complement the longstanding heritage 

and allure of the rare Argyle pink diamonds,” Bishop explains. 

Come one, come all 

THE AVALON RING 

NINA'S FINE DIAMOND JEWELLERY 

Nina's Fine Diamond Jewellery was among the first to purchase diamonds 

from the Argyle Diamond Mine, forging a partnership shortly after it opened 

in 1983. 

The business was started in 1966 in Kununurra, a small town in the remote 

East Kimberley region. Despite the closure of the mine, the passion for 

Argyle diamonds has continued at Nina’s, now located in Dunsborough. 

In January of his year, Nina’s launched Crescendo – an exhibition of ten 

pieces valued at $AUD1.7 million dollars. The exhibition features more 

than 400 Argyle pink diamonds in a collection that took more than 500 

hours to complete. 

Describing the exhibition as a ‘love letter’ to pink diamonds, general 

manager Shivangi Modi is eager to spread the word about these 

remarkably rare stones. 

“Our point of difference is that we actively encourage people to try our 

jewellery on – even pieces valued at close to $300,000. Crescendo, while 

grand, won’t be locked away in a vault,” she tells Jeweller. 

“We want people to touch, feel, and see the incredible craftsmanship and 

discover the hidden details in the extraordinary settings, some of which 

only the wearer can see.” 

When asked about a favourite piece, Modi could not decide between two. 

The first was the Adoration Pendant, a 0.34-carat fancy intense purplishpink 

pear-cut diamond. 

Set with 90 Argyle pink diamonds, each tier of this pendant is raised slightly 

higher than the last, ensuring that the feature stone is always prominently 

displayed. 

The second was a piece known as the Avalon Ring. Shoulder stones are 

accompanied by an inner halo of 0.08 carat of round-cut pink diamonds 

set in rose gold. 

A 0.24-carat oval-cut pink diamond is enthroned in rose gold claws, adding 

a final fancy cut to the centre of the geometric arrangement. The hidden 

pavé-set diamonds adorning the under-bezels in the basket of this ring are 

a ‘marriage of form and function’. 

“The pieces in Crescendo are representative of the care and quality taken 

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a multitude of tiny details that combine into one extraordinary whole, a 

creation of sublime beauty,” she explains. 

“Starting with a single or matched pair of hero Argyle pink diamonds, 

each piece is created to reflect a 360-degree thought process and made 

right here in our Dunsborough workshop by our master jewellers.” 

Word spreads fast 

As previously mentioned, pink diamonds have consistently made 

international headlines at fine jewellery auctions over the past year. 

The examples given earlier are just a few of the significant sales. A 

Bulgari ring featuring a fancy intense pink emerald-cut diamond of 6.99 

carats, with baguette-cut diamonds set in platinum, was also sold for 

$USD10.52 million ($AUD16.12 million) at Christie’s in Hong Kong. 

Another ring – this time set with a round-cornered rectangular modified 

brilliant-cut fancy vivid purplish pink diamond weighing 5.01 carats - 

was also sold in Hong Kong for $USD6.46 million ($AUD9.9 million). 

The pink diamond phenomenon has also spread as far as Denmark, 

where Hartmann’s operates in Copenhagen. 

Owner Ulrik Hartmann says that one particular piece is always 

prominent in his mind when discussing pink diamonds. 

“Hartmann's Pink Butterfly Brooch is not just a piece of jewellery; it's 

a masterpiece, a testament to unparalleled craftsmanship. Among the 

treasures in our Argyle Pink Collection, this brooch stands out as my 

absolute favourite,” he tells Jeweller. 

“Adorned with a stunning combination of 9.81 carats of Argyle pink and 

blue diamonds and 3.85 carats of white diamonds, this brooch celebrates 

elegance and sophistication. 

He added: “What sets it apart is the intricate design that allows the wings to 

move gracefully, mirroring the delicate flutter of a real butterfly.” 

It’s clear from these responses that the majesty of pink diamonds brings 

out the best in jewellery designers. 

The popularity and value of the stones encourage artisans to test their 

skills and to create timeless works of art. The result is some of the 

world's most eye-catching fine jewellery. 

As the old saying goes, beginning with audacity is a great part of the 

art of painting, and describing many of these pieces as audacious may 

indeed be an understatement. 

However, there’s little doubt that this willingness to push boundaries 

when creating pink diamond jewellery has contributed to the ongoing 

popularity of these rare and elusive stones long after the closure of the 

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BUSINESS 

Strategy 

If only: Don’t be afraid to make an 

exhibition of yourself 

Don’t be afraid to dream big. BARRY URQUHART discusses the importance of promoting your 

business in a post-pandemic retail landscape. 

Many people lost touch during and 

because of the COVID-19 pandemic. It is 

little wonder there is intense interest in 

and demand for conducting and engaging 

with exhibitions of products, services, and 

applications. 

Social isolation and quarantines damage 

people's psyches. Most long to reach out, 

connect, and engage with people who 

matter. That includes clients, customers, 

suppliers, associates, and staff. 

Astute business leaders are taking the 

opportunity to make an exhibition of their 

companies, brands, products, and people – 

sometimes extending to themselves. Being 

an exhibitionist seems timely. 

Reservations about contaminations, intent, 

and understanding are readily and rapidly 

overcome. In their many incarnations and 

sizes, exhibitions fill needs and stimulate 

interest in new and established products, 

services, and apps. 

Relationships are being rekindled, 

established, and extended. Increased 

business activities are natural 

consequences. Hosts are from a broad 

cross-section, including professional 

associations, buying groups, marketing 

networks, manufacturers, distributors, 

suppliers, and retailers. 

Creative concepts in invitation designs, 

displays, demonstrations and samplings 

generate interest in and demand for brands. 

The shadow of the pandemic and its 

evolving variants overhang the marketplace. 

Attendance totals tend to be down, as do 

multiple registrations and participants. 

Trials and tribulations associated with 

travel remain perceptual, if not an absolute, 

impediment and filters. This has been a 

catalyst for the programming and conduct 

of multiple smaller events. 

Among the by-products are increased 

engagements, interactions, and 

transactions. 

Swings and roundabouts 

One significant emerging trendcentres on 

contractions and terminating social media 

campaigns. 

Increasingly, funds and budgets are 

allocated to re-entering and profiling a 

strong physical presence among existing, 

past, and prospective clients, customers, 

and collaborators. 

Self-conducted exhibitions provide 

platforms with certain endearing and 

enduring features. These include exclusive 

access to time-specific events, stimulating 

interest and generating a sense of urgency. 

Promoting new products, the full 

complementary range, infrastructure 

support, service arrangements, and specific 

offers capture attention and often represent 

enhanced value. 

Everything old seems new again. In many 

instances, and covering numerous aspects, 

these events are relaunch and launch 

occasions. 

They should be considered new, with 

formats free from traditions and past 

practices. Interactions, communication, and 

networking remain the key, fundamental 

and practical lubricants for commerce. 

Social media and technology should be 

deployed to complement, not replace, 

Astute business 

leaders are 

taking the 

opportunity 

to make an 

exhibition 

of their 

companies, 

brands, 

products, 

and people 

– sometimes 

extending to 

themselves. 

the human quotient. When integrated, 

multi-channels are optimal for positioning 

companies, brands, people, and products. 

The programs and schedules should 

feature facilitating interactions, including 

peers. Smaller, targeted events are 

seemingly appealing to promoters, 

invitees, and participants. 

However, care must be taken to avoid 

overburdening targeted entities, 

executives, associates, clients and 

customers with messages, invitations, and 

opportunities. Saturation via social media 

has been a critical determinant in the 

declining use of those media. 

Objectivity 

In the prevailing time-poor, pandemicaffected 

marketplace, with attendant 

and consequential reluctance to be 

overexposed to viruses, infections, and 

medical and social contaminations, it is 

imperative to determine set and specific 

objectives for exhibitions and similar 

events. 

A good starting point is a clean 

slate. Traditions and past practices, 

including scheduling, should be at least 

marginalised, if not deleted. 

Attendee benefits, advantages and 

rewards must be conspicuous, alluring 

and compelling. Even in periods of 

recession, customers, clients, and 

purchasing managers find satisfaction and 

delight in purchases. 

That is reason enough to contemplate 

planning, promoting, and conducting 

exhibitions and similar events. 


New venues, presentations, and packages 

enhance appeal. 

Against the backdrop of several variants 

of COVID-19, it is important to remember 

that in commerce, few things are more 

infectious than excitement and enthusiasm. 

If only... 

In business, as in life, all or most things 

are possible … within limits. The limits, 

boundaries, and parameters are self- or 

human-imposed. Exciting prospects remain 

unrecognised and unfulfilled. 

It is sobering to realise that increased 

sales, enhanced market share, elevated 

competitiveness, and more repeat and loyal 

business are possible. 

Fundamental is the need to recognise and 

not prematurely apply value judgments and 

tolerance levels. These impact, influence, 

and determine the quantum of advantages, 

benefits, and rewards. Variances and 

variability are inevitable. 

Thus, the determination of right and wrong 

is arbitrary. The message is: don’t hold 

back. 

A strong focus on and commitment to 

desired goals and outcomes put into 

perspective the question - how? 

An unencumbered, free flow of detailing, 

prioritising, costing, and integrating means 

expedites the possibilities, propositions, 

proposals, and hypotheses that are devoid 

of reservations, apprehensions, and 

risk resilience should be documented, 

evaluated, refined, developed, and possibly 

extended. Only then can and should value 

judgments be applied. 

Permutations and computations generate 

a host of options. Significantly, the phrase 

‘if only’ is by nature value-free. It multiplies 

tempting alternatives to the traditional, the 

established and the ingrained. 

Product/service ranges, supply chains, 

communication channels, marketing 

content, systems, styles, structures, and 

shared values are and should be subjected 

to the challenging proposition—if only! 

Dare yourself 

Being bold, daring, and different seems 

logical in a crowded, suppressed, and 

contracting economy and marketplace, if 

not static. 

Recent success stories have, 

understandably, prompted the statement:If 

only we had done this before. Questionably 

applied constraints should be cast aside. 

Bunnings, the high-profile Australian 

hardware chain, is a case in point. It has 

recently significantly extended its product 

range twice. Pet food, toys, and care are 

now available in up to three aisles. The 

category of hardware has been remodelled 

to be home-based. 

Unconditional love from pets is being 

returned and rewarded in spades with 

absolute non-discretionary purchases and 

expressions of love and fun. 

Some 1,000 stock items of cleaning 

products, including dishwashing tablets, 

laundry liquid, and handwash, are now 

being added. Four aisles will feature the 

brand names OMO, Dettol, Sukin, and 

Sunbeam. 

For Bunnings and others, the challenge is 

to venture into the unknown. In the past, 

such innovations were inconceivable and 

unattainable. 

Compliance and conformity are 

constraining forces and characteristics 

of many public sector entities. They, too, 

would benefit from changes in attitudes, 

perspectives, and risk tolerance—if only. 

For ideas, concepts, innovations, and 

technologies that do not ‘fit’, reverse 

engineering is an alternative. That is, the 

business model and template. If only. 

KEY FACTORS 

TO CONSIDER 

WHEN 

PROMOTING 

YOUR 

BUSINESS 

Capitalise 

Make the most 

of emerging 

technology. 

Oversaturation 

Social media 

users are 

exhausted 

by relentless 

advertising, so 

spend your time 

and money wisely. 

Desire 

Consumers are 

searching for 

new and exciting 

products. 

Rekindle 

Rebuild 

relationships that 

were lost during 

the pandemic. 

Service stations were established in the late 

1980s on petrol pumps, driveway service, 

bulk oil, lubritoriums, and greasy concrete 

floors that were particularly uninviting to 

female consumers and commuters. 

The typical ethnic owner worked in the 

lubritorium in soiled overalls and transacted 

cash transactions. Modernity is refreshingly 

clean, bright, and inviting, with a strong 

emphasis on food-to-go and convenience. 

No place to hide 

Every aspect of business, society, family, 

and self could, and arguably should, be 

subjected to this concept of ‘if only’. 

Generative artificial intelligence allows 

some businesses to increase their 

resonance with existing and prospective 

customers. Images can be finessed, 

ensuring more significant impact and recall. 

For those business owners who choose 

to or insist on being the face, voice, and 

presence of the business, its products, 

services, and people, subtle ‘touch-ups’ with 

generative AI are possible. 

Aging voices, conversational phrasing and 

sub-optimal articulation can (and possibly 

should) be recalibrated. The essential 

characteristics can be ‘intelligently’ 

retained. We can all do with help, 

sometimes and in some ways. 

There is much to commend assertiveness, 

change, forthright counselling, and 

embracing the realisation of possibility and 

probability. 

A founding step forward could be a simple, 

endearing and potentially enduring phrase:If 

only. 

BARRY URQUHART is managing 

director of Marketing Focus. He has been 

a consultant to the retail industry since 

1980. Visit: marketingfocus.net.au 


BUSINESS 

Selling 

Measuring success in sales and thriving 

with high expectations 

Employees thrive when they are given clear expectations. 

DOUG FLEENER explains the importance of measuring sales performance. 

One of my favourite quotes, which I love 

to share, came from Jerry Kohl. He is the 

co-founder (along with his wife, Terri) of 

Brighton. 

“The only thing my bank takes is money.” 

I love it. You can’t deposit effort and highfives, 

training and practice, compliments, 

and likes; you can only deposit money. 

You either need your staff to do something 

better or different. That’s it! Everything falls 

into one of those two categories. 

Those are unique for each store and even 

each employee. That’s why a one-size-fitsall 

training program for a seasoned staff 

isn’t necessary.What isn’t unique is how you 

achieve those changes. 

Sales revenue is the number one measure 

of success.Of course, effort, motivation, 

training, practice, and customer 

appreciation are vital to your store/ 

business success. But those are the 

means to the result—sales revenue. 

Here are three ways to measure sales 

success. 

• Sales increases: The cost of doing 

business is not going down. Even with 

the recent lower inflationary pressure, it 

continues to increase. 

If you’re not increasing your sales, you’re 

not depositing enough money. That’s 

why my clients and programs all aim for 

double-digit expansion annually. 

• Vital KPIs: Measuring and tracking 

the right key performance indicators 

(KPIs) is essential to understanding and 

driving sales. KPIs serve as quantifiable 

measures that reflect your business' 

critical success factors. 

Focusing on the metrics that truly matter 

to your business can help you gain insights 

into performance trends, identify areas 

for improvement, and make informed 

decisions. 

My favourite sales KPIs in retail are 

average sales, conversion rate, and dollar 

per traffic. I know many people like UPTs 

(units per transaction), but I find that a 

secondary KPI whenunderstanding what’s 

happening with the average sale. 

• Individual staff sales performance: 

Tracking individual performance is vital. 

I’ve worked with stores that didn’t want to 

do this out of fear of impacting teamwork. 

The bank doesn’t take teamwork either. 

This is merely a data point – don’t 

overthink it. 

You can choose to give individual goals 

or not, and you can choose to share the 

individual sales numbers or not. With that 

said, you are missing sales if you don’t 

know who is selling how much. 

If you don’t ring in individual sales, you 

can always track the store’s performance 

for each employee working that day. 

Over time, that data can show you when 

employee X is working, the store does 

well, but when employee Y is working, it 

falls short. 

For your information, most stores that 

add this are shocked by what they learn. It 

is a good shock so they can take action to 

increase revenue. 

So, let me ask two questions: 

• What was the easiest sale you ever 

made? I once sold jewellery to a guy who 

left his wife during dinner to ‘take a call’ 

and rushed into the store to buy her a gift. 

• What was the worst excuse an employee 

ever gave for falling short in sales? I 

once had an employee tell me he missed 

his monthly sales goal because he had 

trouble with his girlfriend. There's nothing 

like blaming the girlfriend who had 

nothing to do with his work! 

Setting high expectations 

Ultimately, a leader’s impact is in the 

results they produce.For a retail leader 

and coach to make a high impact, the 

path is as follows: impact staff, impact 

customers, and impact revenue. 

You impact the staff to improve the 

customer’s experience and actions, which 

influences the store’s results and revenue. 

You don’t make a higher impact by having 

the staff do what they already do. You 

make changes and improvements.Most 

people overcomplicate how to achieve 

this. It is simple. 

What was the 

easiest sale you 

ever made? 

I once sold 

jewellery to a 

guy who left 

his wife during 

dinner to ‘take 

a call’ and 

rushed into the 

store to buy her 

a gift. 

It all starts with setting new and usually 

higher expectations of those better or 

different employee actions. 

Expectations are a manager's specific 

standards or objectives for an employee's 

performance (actions and behaviours), 

outcomes, and results. 

• Have a weekly expectation: Remember, you 

are expecting something better or different. 

This could be the same for everyone on staff, 

or everyone can have their own. 

Meet with employees at the start of their 

week to agree upon the week’s expectations 

and desired outcomes. You can also roll the 

same expectation over to the next week but 

always have a weekly expectation. 

• Set a daily expectation of specific actions 

and results: Say, for example, you want the 

staff to increase the email capture rate of 

buyers. 

Each employee should have a target for the 

day and specific actions they will take to 

achieve it. 

• Set tracking and reporting expectations: 

Many managers miss this one expectation. 

This is the only way to ensure that better or 

different actions occur. 

For example, we know that getting customers 

to engage with and try on products 

dramatically increases the likelihood of 

purchasing. The only way to know if that is 

happening is to have the employee track how 

many customers they do that with. 

Many owners or managers have told me 

that’s not realistic; however, it is. I know 

because the leaders who make it happen are 

the same ones who consistently increase 

their staff and sales. 

DOUG FLEENER is the author of a new 

book titled The Day Makes The Year 

(Makes The Life). 

Learn more: dougfleener.com 


BUSINESS 

Management 

Five lessons you can learn from 

a high-profile business leader 

What can we learn from one of the most talked about people on Earth? 

DAVID BROWN reflects on the practices of an influential businessman. 

Love him or hate him; there is no 

doubting the tremendous success 

and understanding that Elon Musk 

has achieved over the past 30 years in 

business. 

From his early beginnings as one of the 

founders of PayPal, through the creation 

of Space X and Tesla, to his more recent 

developments in The Boring Company, 

his early role in ChatGPT, and his recent 

takeover of Twitter (now X), Musk has shown 

an ability to achieve what many have 

thought impossible. 

I recently had the opportunity to read Walter 

Isaacson’s biography of the man, and what 

stands out is his uncompromising drive and 

obsession with whatever he is involved with. 

To achieve one successful start-up is a 

tremendous achievement; however, to 

create four and take over one of the world’s 

leading social media platforms. 

This occured while juggling a sizeable 

hands-on role in every company as a 

superhuman level of achievement. 

Musk’s ability to engender commitment 

while also alienating people draws many 

comparisons to Steve Jobs, illustrating that 

the life of a genius doesn’t come without 

frailties that can make it difficult to live with. 

The book provided many lessons that any 

business owner would do well to learn from. 

Although most of us are no Musk or Jobs, 

there are still key principles that we can use 

to drive our own businesses forward. 

One of the most valuable processes used 

by Musk is called ‘The Algorithm’, which he 

uses in every company he works in. It goes 

as follows: 

• Question every requirement: Musk 

insists that every process comes with the 

name of the person who required it. He 

won’t permit processes that, when asked, 

receive the answer, “The legal department 

requires we do it this way”. 

He insists on names so that people are 

accountable. As he states, requirements 

from smart people are often the most 

dangerous as they are never questioned. 

He even wants his own decisions 

questioned—although, as the book 

repeatedly shows, he does get a little 

upset when this happens! The purpose of 

questioning is to make the requirement 

“less dumb.” 

• Delete any part of a process you can: 

He would rather have a step removed and 

added back in than leave it there. 

He insists that if you don’t add back 10 per 

cent of the processes deleted, you haven’t 

removed enough of them. 

• Simplify and optimise: This works in 

tandem with the second and should, in 

fact, follow immediately from it. 

He believes all processes should undergo 

the scrutiny of elimination before they are 

improved. 

• Gain momentum: Speed up the process 

once you’ve completed the first three 

steps. 

A common theme throughout the 

book was how frequently Musk made 

unrealistic timeframes for completing 

projects only to have the team 

achieve them. 

• Automate: Once all other processes are 

complete, ensure the system becomes as 

automated as possible. 

The book's countless examples make it 

fascinating, especially regarding Space 

X, where Musk and his team were able 

to make constant timeframe and cost 

savings compared to the burdensome 

government beast that is NASA. 

Although most 

of us are no 

Musk or Jobs, 

there are still 

key principles 

that we can use 

to drive our 

own businesses 

forward. 

In addition to the five governing principles 

of The Algorithm, Musk also adopts several 

other key guidelines: 

• All technical managers must have handson 

experience. He expects his software 

coding managers to spend 20 per cent of 

their time coding, or “they become like 

cavalry officers who can’t ride a horse 

anymore”. 

He also insists that his design team is 

based near the production line so they can 

see the consequences of their decisions. 

• He dislikes camaraderie in the workplace 

as he believes it then becomes hard to 

challenge a colleague's work for fear of 

throwing them under the bus. 

• He believes it’s okay to be wrongas long 

as you’re not confident and wrong. 

• Don’t ask your staff to do what you won’t 

do yourself. Musk is highly hands-on – it’s 

not unusual to find him on the factory 

floor at Tesla ripping out equipment and 

changing processes himself. 

• Whenever there is an issue, don’t just 

meet with the manager. Go a level down to 

those who are dealing with it firsthand. 

• Hiring is about attitude. Skills can be 

taught; however, attitude requires a 

brain transplant. 

• Maniacal urgency is optimum. He is 

unrelenting with the pressure he creates 

for results. 

• The only laws are those dictated by 

physics. Musk is libertarian, resisting any 

authoritative directives or government 

legislation as much as he can legally do, 

seeing them only as recommendations 

where he can. 

You may not be running companies the 

size of Tesla or X; however, many of the 

principles applied by Musk would work 

equally well in your own business. 

Which of these principles do you currently 

apply? Which would you benefit most 

significantly from? 

DAVID BROWN is co-founder 

and business mentor with Retail 

Edge Consultants. Learn more: 

retailedgeconsultants.com 


BUSINESS 

Marketing & PR 

Addressing your digital marketing blind spots 

Are you struggling to generate results from your digital marketing efforts? 

THOMAS YOUNG discusses common mistakes. 

What we don’t know in business hurts 

our ability to close sales and increase 

market share. The good news is with 

awareness comes the opportunity for 

change and improvement. 

Do what you’ve always done and get the 

same results. This is often true in digital 

marketing because many businesses 

‘stick with what they know’ – they stay 

in their comfort zone, and many fail to 

implement key digital marketing tactics 

needed to improve. 

It’s essential to understand why this 

is happening and to identify yourblind 

spots.I’ll provide recommendations so 

you can improve and maximise your 

return from your website and digital 

marketing strategies. 

Digitalmarketing and website 

awareness 

Many marketers have seen digital 

marketing flourish in the past few 

years; however, they have yet to fully 

understand what is happening and how 

to take advantage of it. 

These business leaders rarely visit their 

company website and review digital 

marketing metrics and data.Although 

this group has dwindled in size over the 

years, they are still prevalent, and their 

lack of attention results means missed 

opportunities for improvement. 

Consider gaining access to Google 

Analytics 4 and having the data provided 

every month. To gauge your digital 

marketing effectiveness, consider your 

total monthly visitors, the pages they 

visit, and the website traffic sources. 

Focus on specific pages that provide 

conversion opportunities, optimising 

high-performing examples and refining 

others that may be lacking. 

Identify where website traffic originates 

– whether it be organic search or 

social media - to focus and fine-tune 

your efforts strategically. Make sure to 

track those who contact your business 

company and other online conversions. 

You must visit your business website at 

least once a week to see what the world 

is seeing. Question your staff about the 

data and strive for improvements. 

The ‘Know-It-All’blind spot 

A closed mind is a beautiful thing to 

lose! Success in digital marketing 

requires an open mind and the ability to 

test new approaches to learn. 

This blindside is increasing as younger 

demographics come into the workforce. 

These people were part of the ‘digital 

revolution’ and grew up with the 

Internet. 

That said, they need a comprehensive 

view of what works in digital marketing. 

They tend to focus on handling 

digital marketing themselves and, as 

mentioned, on persisting with what they 

are familiar with. 

Digital marketing requires variousskills, 

and knowing it all is nearly impossible. 

The result of this blind spot is trying 

something and then giving up when it 

does not work as expected. 

We often hear that a particular digital 

marketing tactic has ‘never worked’. 

Today, the game has changed, and 

we see a variety of marketing tactics 

working together in harmony as the key 

to driving the best results. 

Embrace a comprehensive digital 

marketing plan. Don’t rely on just one 

or two tactics to get results. Explore 

new digital channels and cover the 

essentials. 

You must visit 

your business 

website at least 

once a week to 

see what the 

world is seeing. 

Question your 

staff about 

the data and 

strive for 

improvements. 

You should have a quality website 

that meets users' needs, and your 

business should be optimised to be 

discovered in search engines. Regular 

social media posts and a ‘content 

calendar’ are great ways to remain 

active, while email marketing and 

monthly newsletters keep you in 

contact with your customers. 

New generation of digital marketers 

Marketing is a discipline and requires 

a team effort with a comprehensive 

approach, along with input from 

experts. 

A do-it-yourself (DIY) approach will 

dilute your ability to focus on what you 

do well. You most likely don’t do your 

own taxes or legal work! Marketing 

requires the same input and attention 

from experts. 

Build a digital marketing staff and 

leverage experts to get results and 

complement your in-house marketing 

employees.Talk to experts and get 

feedback. 

What’s needed is a new generation 

of digital marketers who focus on 

strategic intent and translating value 

with quality content. 

They understand that websites are 

the centrepiece of marketing for most 

businesses and that digital marketing 

is essential to attract new customers. 

I hope this new generation is strong 

with data and uses metrics to drive 

tactics and make informed decisions. 

It’s essential to be open to testing new 

ideas, leveraging AI tools to improve 

work, and embracing learning and 

constant change. 

Finally, you must be willing to 

capitalise on the experience and 

insight of experts. This removes blind 

spots and generates ideas to leverage 

digital marketing's potential. 

THOMAS YOUNG is CEO of Intuitive 

Websites. He has more than 25 years’ 

marketing and sales experience. Visit: 

intuitivewebsites.com 


BUSINESS 

Logged On 

Would you please leave a review? 

Consumers increasingly value online reviews. 

SHEP HYKEN explains why you should actively pursue reviews for your store. 

Getting customers to review their 

experience with you is powerful. 

Before they make a purchase, go to a 

restaurant, stay at a hotel, and more, 

many customers do online research, 

which leads them to reviews that 

help form their opinion of products or 

services they want to buy—or even the 

business they want to purchase it from. 

How do you get reviews? Well, the easy 

way is to ask for them! I was recently 

asked about how to get good reviews, 

and I noted that there are at least two 

requirements: 

• The customer must be willing to 

leave a review 

• Your employees must deliver the 

positive experience you want your 

customers to talk or write about 

Customers who leave reviews fall into 

two categories. The first is those prone 

to leave the review without being asked. 

The second is those who are willing to 

do so if you ask. 

Either way, if they are willing, you should 

make sure the review they write about 

you is good. The only way to make that 

happen is to give them what they need, 

which is a good experience. 

A few years back, I wrote about a hotel 

with a sign that read, “Please leave a 

review on Trip Advisor.” Then, I received 

terrible service. As I was checking out, I 

picked up the sign, showed it to the front 

desk clerk and asked, “Do you really 

want me to leave a review?” 

Here is the point. If you want your 

customers to leave a good review, 

everyone in your business must 

understand that they are all part of 

what will be graded. Everyone must 

do their job to ensure the customer 

has an experience you want them to 

write about. 

role, they take care of someone doing 

something that directly impacts the 

customer’s experience—even if they 

never see the customer. 

You want customers to want to come 

back. You want them to talk positively 

about you. And, you want a good review, 

whether they publish it or not. Make 

sure all your staff understand the 

goal, then empower them to go out and 

achieve it. 

If you won’t ask, who will? 

Not long ago, I wrote an article and 

created a video on ‘Doing More Than 

Expected’ – even when it’s not included 

in your job description. 

I used the example of the server at a 

restaurant who ran outside during a 

storm to move the outdoor furniture 

blowing across the patio to a safer, 

more secure spot. He returned to the 

restaurant, drenched from the rain, 

to applause from the guests. I jokingly 

asked him, “Was moving patio furniture 

included in your job description?” He 

said, “I just do what it takes.” 

You want 

customers to 

want to come 

back. You want 

them to talk 

positively about 

you. And, you 

want a good 

review, whether 

they publish it 

or not. 

fixed things around the office. If he saw 

something that wasn’t right, he made it 

right. 

For example, we changed a frame with 

a motivational quote every week. One 

week later, the quote and picture frame 

were crooked. I noticed it, and while it 

bothered me a bit, it wasn’t worth saying 

anything about it. By the end of the day, 

it was fixed. 

Stepping up 

I knew who did it, but I still asked loud 

enough for others to hear, “Who fixed the 

weekly quote?” Of course, the answer 

was the guy who fixed everything around 

the office. I thanked him and asked him 

why he handles things like this. He said, 

“If I don’t do it, who will?” 

I love those seven words. “If I don’t do it, 

who will?” is right up there with “I just do 

what it takes.” These are the mindsets of 

people who go the extra mile; by the way, 

it’s not an extra mile. Often, it’s just a 

tiny bit more effort, if any. It’s just doing 

it because, “If they don’t, who will?” 

When someone comes to work for you, 

whatever their role and responsibility, 

you hope they are good at it. 

If all they do is that role and don’t care 

to do anything else, such as fixing a 

crooked piece of art in a frame, you 

would still be happy with their work. But 

what if another employee did the same 

and, in addition, was willing to fix the 

symbolic piece of art in a frame, even 

without being asked? Who would you 

rather have working for you? 

Your answer is most likely the second 

option. That employee is the type of 

staff member who will do whatever 

they can to care for their internal and 

external customers. Why? Because they 

do what it takes and know, “If I don’t do 

it, who will?” 

Hold them accountable and responsible 

for ensuring the experience is worthy of 

a good review. 

Even employees who don’t work on the 

front line have a place in the customer 

experience they must understand. 

In a ‘behind-the-scenes’ supporting 

That’s a great attitude to have. First, 

you must be the kind of person who 

innately knows you should do something 

right, even if it isn’t expected. Second, 

you must be empowered to make and 

act on those choices. 

I’m reminded of an employee who 

SHEP HYKEN is a speaker and New 

York Times and Wall Street Journal 

best-selling author who works with 

companies to build loyal relationships 

with customers and employees. 

Visit: hyken.com 


My Bench 

Lani Williams 

Windfall Jewellery 

• AGE: 39 • YEARS IN TRADE 12 • TRAINING: Small courses in metalsmithing, jewellery making, wax-carving and gem-setting. • FIRST JOB: Windfall Jewellery 

OUR CLEO 

‘Our Cleo’ is a stand-out piece in our engagement 

ring collection. An oval-cut Australian sapphire with 

marquise white diamonds on the shoulders. We love to 

mix and embrace bold colours in our pieces, and this 

piece is feminine with an underlying edge. 

FAVOURITE GEMSTONE Champagne diamonds. 

FAVOURITE METAL 18-carat white gold. 

FAVOURITE TOOL The polishing machine. 

BEST NEW TOOL DISCOVERY Dedeco radial disks. 

BEST PART OF THE JOB When the gemstones or 

diamonds we’ve been sourcing finally arrive at the 

studio for unpacking. 

WORST PART OF THE JOB Staying on top of my 

email inbox. 

BEST TIP FROM A JEWELLER Stay in your lane. 

BEST TIP TO A JEWELLER Stay in your lane! 

BIGGEST HEALTH CONCERN ON THE BENCH: 

Breathing in dust, followed by the impact of poor 

posture. 

LOVE JEWELLERY BECAUSE I can see the beauty 

in everything. It gives me an opportunity to express 

that beauty in timeless pieces, which will act as a 

time capsule. When I’m long gone, my jewellery will 

continue to tell my story. 



OPINION 

Soapbox 

What takes years to build 

and seconds to destroy? 

Trust is the jewellery industry’s most decisive influence. KIM RIDLEY explains why 

building trust with customers and associates should be your biggest priority in 2024. 

We all know that trust is fundamental 

in the jewellery industry; however, it’s a 

silent influence in business – we often only 

turn our attention to trust when something 

has gone wrong. 

This phenomenon was recently brought to 

my attention as my son returned home to 

Australia after spending several years living 

and working in Jordan. 

As I’m sure you know, there’s a great deal 

of instability in the Middle East, and the 

decision was made for him to return home. 

As he finalised the details of his 

12,000-kilometre voyage from Jordan to 

Australia, I was reminded of how much 

trust we place in people we do not know. 

services these retailers offer are still based 

on trust. 

With that said, it should come as no 

surprise that success in this regard is based 

on our ability to follow through on promises, 

reinforcing the trust and respect customers 

have in our businesses over time. 

Salespeople who prefer to work on ‘shortterm’ 

transactions and partnerships rarely 

succeed in the jewellery industry because 

this trade is based on connection. 

I’ve worked in the jewellery industry for 

many years, beginning at Q Report with 

insurance and now with Retail Edge 

Consultants, working hand-in-hand with 

stores to improve their business. 

Delivering 

quality products 

and services, 

maintaining 

communication, 

and meeting 

deadlines 

reinforces and 

builds trust 

and fosters 

long-term 

relationships. 

» Consistency: Delivering quality products 

and services, maintaining communication, 

and meeting deadlines reinforces and builds 

trust and fosters long-term relationships. 

In my many years in the business, all 

of the most successful jewellers I have 

encountered have adhered to these five 

principles. 

These jewellers build trust with customers 

by keeping their word and delivering on 

promises, and as a result, their customers 

remain loyal. 

These principles are particularly important 

today because consumers increasingly 

approach business with a default feeling of 

‘mistrust’. 

Whether it be the taxi driver who takes us 

to the airport, the travel authorities at the 

airport, or even the airline staff – most 

importantly, the pilot – when we travel, we 

implicitly trust these strangers with the 

safety of our loved ones and precious cargo. 

These are not personal relationships; 

they are associations based on trust, 

previous experiences, and, in terms of 

business, past transactions. 

Travel is not the area of our lives where we 

place our trust in a stranger; however, the 

principles remain the same – have faith 

that individuals we do not know will carry 

out important responsibilities and provide 

valuable services. 

Many other examples exist – many people 

use dating apps, leading to personal 

encounters and interactions with strangers. 

Young people often live in shared homes 

with strangers they’ve never met before 

moving in. 

With online banking, we trust financial 

institutions with our hard-earned money 

without meeting or speaking with a staff 

member. 

The jewellery industry may break away from 

this practice in some regards. For example, 

salespeople sit in front of customers and 

look them in the eye when facilitating a 

purchase. 

Employees will discuss their families and 

personal lives with customers; however, 

when it comes to the jewellery business, the 

The importance of these connections 

remains the same. In the coming years, 

I’m looking forward to continuing the great 

partnerships I’ve formed with retailers and 

business owners over the years. 

In my new role, I’m also looking forward to 

forging new partnerships centred on mutual 

respect, trust, and a business goal as a 

measure of success. 

Building and maintaining a good reputation 

in business often boils down to delivering on 

promises and providing value to customers. 

Said another way, people have faith in you, 

and you, in return, trust them. 

In my experience, I’ve learned that there are 

five keys to building and maintaining great 

relationships in the jewellery industry. I live 

by these principles and know many of my 

customers do, too. 

» Trust: Trust is paramount in successful 

and productive business relationships. 

» Priorities: Recognising the importance of 

the customer and prioritising their needs is 

crucial. 

» Reputation: With the rise of online 

reviews in the ‘social media’ age, the 

reputation of a business can easily be 

shared, accessed, criticised and praised. 

Managing the perception of your business 

is vital. 

» Accountability: Taking responsibility for 

any shortcomings and addressing them 

promptly is the basis for accountability. 

If a consumer does not like you or your 

business, the chances of them shopping in 

your store are close to zero. 

If a consumer does not trust you or your 

business – whether it be because they 

feel that you don’t have your best interests 

in mind or they doubt that you’ll be able 

to deliver on your promises –that is a 

relationship that must be repaired. 

Word of mouth is extremely important in this 

industry. When a person trusts a jeweller, 

they’ll not only become repeat customers, 

they’ll also spread the good word about your 

business – whether verbally or online. 

The opposite is also true - and as we all 

know, negative reviews – whether online or 

in person – can be very destructive. 

In the year ahead, the opportunity I’m most 

excited about is the chance to continue 

building on my existing relationships and to 

forge new partnerships. 

I hope that you’ve set similar goals for your 

business. 

Remember: Trust may be earned drop-bydrop, 

but it’s lost by the bucket load. 

Prioritise trust and the rewards will follow. 

Name: Kim Ridley 

Business: Retail Edge Consultants 

Position: Business Development Manager 

Location: Queensland 

Years in the industry: 15 


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Jeweller - April 2024

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