Jewellery Business celebrates a milestone

by charlene_voisin | August 1, 2015 9:00 am

By Jacquie De Almeida

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Look who’s 10! It was a decade ago our group publisher, Ellen Kral, founded Jewellery Business, but in that short time, the magazine has risen to become Canada’s premier jewellery trade publication and your source for timely, topical, and trusted content.

This could very quickly turn into a piece about all the things Jewellery Business has accomplished over the last 10 years—including picking up two major awards for editorial excellence—but at the heart of it all, our goal has been to provide readers with objective content that helps answer one basic question: how does this information help retailers sell more jewellery?

Along the way, we’ve reported on some of the biggest stories to hit the Canadian jewellery landscape, including the abolition of the excise tax. Jewellery Business was barely nine months old when in May 2006 the Harper government repealed the 88-year-old tax that was originally meant to help defray the cost of the First World War. A private member’s bill introduced by John Duncan, MP for Vancouver Island North, B.C., was the catalyst that helped rescind the tax, along with the efforts of former Canadian Jewellers Association (CJA) presidents Pierre Akkelian and Jonathan Birks.

The Canadian diamond industry has also figured prominently in Jewellery Business. From being crowned the third-largest producer of diamonds in the world by value to the discovery of potential new sources to the creation of the Diamond Bourse of Canada, the Canadian diamond industry has evolved greatly in the last 10 years and the next 10 look equally as brilliant, as new mines come online in northern Quebec and the Northwest Territories.

That’s not to say the Canadian jewellery industry hasn’t had its share of challenges. In 2007, the Great Recession rocked global markets and took its toll on the luxury sector. The cost of raw materials, particularly gold, skyrocketed, and consumers put luxury spending on the backburner. Most conversations among retailers and suppliers at the time centred on ‘price point,’ not to mention bead jewellery, which many heralded as the saviour of the jewellery industry with its do-it-yourself appeal and affordability.

In the meantime, low-cost jewellery centres overseas took some of the shine off Canada’s manufacturing sector. Competition from factories that could pump out product at a fraction of the cost of Canadian manufacturers drove companies to be smarter and more cost-effective in their production methods.”¨ It even forced some to shut down operations. Branding became more prominent, particularly when it came to Canadian diamonds, a product consumers were willing to pay a premium to ensure their symbol of enduring love was conflict-free.

The global jewellery industry has evolved greatly in the last 10 years, particularly where technology is concerned. Machines create gem-quality diamonds, a 3D printer can grow a highly detailed wax mould, and a smartwatch not only tells the time, but it will find the closest Tim Hortons. Wearables may not have grown out of the jewellery or watch industry, but they have certainly become a daily fixture in industry headlines of late.

And speaking of headlines, it seems not a day goes by that a new threat surfaces jeopardizing consumer confidence. Diamonds carrying over-graded reports and the discovery of undisclosed synthetics in the pipeline have shaken the industry, forcing public debate to find solutions and tighter controls to maintain public trust.

Indeed, there is never a dull moment in the jewellery industry, and that includes rubbing shoulders with celebrated figures and respected colleagues. We’ve spoken to countless experts to bring you content that matters to your bottom line. And we’re sure to do more of the same over the next 10 years and beyond.

Source URL: https://www.jewellerybusiness.com/features/jewellery-business-celebrates-a-milestone/

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