Darren Dubrovsky, president of Empress Jewellery, the Canadian subsidiary of Carizza, says yellow gold bridal rings have been popular in Europe for the past three years; however, white metal remains the colour of choice in most other markets for now.
“We believe yellow should be coming back,” he adds. “We’re still going through the rose gold or white with rose gold phase.”
To stand out in the ever-competitive bridal market, brands are turning to unique design touches. In Carizza’s case, the inside of each ring is set with an enhanced blue diamond. “It’s a little romantic and adds another story to the piece,” Dubrovsky explains.
In men’s bridal, Frank La Roux, Dora International’s U.S. president, says alternative metals have taken a significant chunk out of the market, but things might be changing, thanks to lower gold prices.
“We’ve seen a rise in sales of our gold rings,” La Roux says. “Precious metals are making a comeback, although it might take another 10 years before the equity in them comes back.”
On a more global level, strengthening ties with the United States, Canada, and South American markets topped the agenda of the Gem & Jewellery Export Promotion Council (GJEPC), which announced a multi-level campaign designed to reinvigorate, strengthen, and expand its business development efforts. Part of that will happen through the Indo-USA Business Development Conference to be held Sept. 5 to 8 in Chicago.
“Post the phenomenal success of the first two editions that were held in India, we hope that through this conference, we will be able to bring together leading manufacturers and retailers of the two countries to explore, collaborate, and forge relationships that would enable the two nations to emerge as leading global players of the gem and jewellery industry,” said GJEPC chair Vipul Shah at a press conference.
The council is also working to promote diamond consumption on a global level, teaming up with World Federation of Diamond Bourses (WFDB) and its World Diamond Mark to promote consumer desirability and confidence in diamonds.
“This program will mark the launch of the biggest-ever educational, accreditation, and generic marketing activities,” Shah adds. “It will be in the reach of all categories of retailers, big or small, to promote their diamond jewellery amongst consumers.”
With robust traffic in the aisles of both JCK Las Vegas and Couture, expectations are high for a busy Christmas shopping season. And with the economic landscape improving south of the border in what is one of the biggest jewellery and watch markets in the world, retailers may get their holiday wish for healthy sales.
