Cameron Gillies, executive vice-president of sales for Corona Jewellery Co., agrees bridal clients are more knowledgeable about diamonds, but adds it’s up to retailers to take the buying experience to another level. Millennials want a story when they make a purchase. This was one of the reasons why Corona partnered with Canadian jewellery designer, Shelly Purdy, on a Canadian diamond and gold bridal line.
“Everything right now in diamonds tends to be about the commodification of a diamond,” says Gillies. “People are looking online and going into a store with a price. In order for retailers to have an edge, they need to have a story. We are in the business of selling romance and I think people sometimes forget that.”
Outside the bridal category, the focus for some was on offering a fine jewellery look in a fashion jewellery line. Designer Elaine Jiang of Piara by Elaine J says retailers are looking for pieces that bridge the gap between trendy and fine, but at an affordable price point.
“You want jewellery that can go well with a casual outfit or something more formal,” Jiang says. “Gold plating makes colours bolder and stronger and coloured stones help to make jewellery more of a fashion accessory because you can match it to your outfits.”
Arch Kitsinian of Vanna K says doublets are popular because they are summery, colourful, and remind people of the beach. “But rose gold jewellery is our biggest fashion trend this year in terms of metal,” he adds. “It’s a colour that matches a lot of skin tones, so people really respond to it.”
Adam Graham, chief executive officer (CEO) of Erica Courtney, says gemstone jewellery continues to offer retailers better margins compared to diamond pieces. One tactic the company has embraced is the use of in-store roundtable events, where consumers are invited to view an array of gems. Not only do they learn more about the stones, but they have the option to design a piece using one.
“Roundtables help build confidence in buying colour,” Graham says. “Clients get to see the stones up close and the evening is likely an experience they’ll never have again, so it’s special that way. It really allows the person who has never bought colour before to equate some value and understanding to the difference between stones.”
Chris Iliopoulos of Montreal’s Sothil says sluggish jewellery sales has retailers scouring the shows looking for ‘the next big thing,’ although he believes that may not be the answer to the industry’s problem.
“The struggle is trying to get retailers to look for products they can sell, ones they can believe in and can do well with,” he says. “The idea is to concentrate on your business, which is not just about finding the next Pandora.”
