What’s in a name?
Branding expert, Dave Lightle, principal at U.S.-based VMA Worldwide, spent several years in Colombia, involved in branding efforts of the country itself, where he and his team changed the dialogue about the nation in the eyes of the world. He said emeralds teeter on commodity status. “They are not reining in the kind of value they should, due mainly to the lack of strong brand players in the global market.” Speaking specifically about marketing Colombian emeralds, he said the collective effort of “the local ‘mother gem’ brand is a good start, although it remains to be seen how it will be marketed. Also to be seen is the contribution of Gemfields and Muzo on branding Colombian emeralds.
The symposium also gave attendees a chance to network. Here, jewellery designer Erica Courtney looks at samples of emeralds from local emerald dealer, Amparo Valencia.
Discussing the importance of social media in marketing and branding was celebrity jewellery designer, Erica Courtney. She spoke at length about trends in gemstones and jewellery, and ways designers can use social media to increase brand awareness, getting the message across to both retailers and consumers.
The panel discussions drilled down on topics of crucial interest to the emerald community. The subject drawing the most, and sometimes contentious, comments revolved around nomenclature labs use when listing the degree of treatments for inclusions (e.g. minor, moderate, significant, etc.). Since the ‘normal’ state for most emeralds is to have moderate inclusions and thus moderate oil/resin/wax treatment, the suggestion by some was to change the ‘moderate’ designation to ‘normal.’ This would—many postulated—help salability. As is the case with other gemstones, namely sapphires and rubies, the terms used for the type of colour also incited lively debate, with some proposing descriptions other than or in addition to ‘vivid green,’ ‘intense green’ and others. No consensus was reached on either topic and the dialogue will, no doubt, continue for some time.
On a different note, concerns were raised about theft in the mines. In response, Burgess declared, “It is no secret robbery and theft are common along the supply chain. I am not talking about poor miners, but well-organized criminals in large-scale operations.” He referred to two deadly attacks on tunnels in the Muzo mine complex by well-armed thiefs, requiring the help of the police and military to quell the situation. The latest attack happened in May, when anywhere from 1000 to 3000 people (depending on different estimates) stormed the mine until police finally gained control. Losses were in the millions, with estimates ranging from $12 million to $42 million U.S.
As Gemfields’ begins its move into Colombia, Gilbertson stated they are learning a lot about conditions in the country, which are different from their operations in Zambia. Referring to the Kagem mine, he was very open in declaring Gemfields loses 15 per cent to 20 per cent of turnover due to internal theft. “Outside elements either pay or pressure mine workers to steal for them,” he said. “The stolen gems are then sold on the black market for less than their real value.” In a pragmatic approach to this problem, Gemfields buys back the gems on the black market, although it separates the repurchased stones from its other material. Oscar Baquero, president of Fedesmeraldas, summarized the situation, saying, “This is a complex issue and we need to have all channels open to solve the problem.”
A 20-year veteran of the jewellery and watch industry, Cynthia Unninayar travels the world reporting on the latest trends, promising new designers, global brands, and market conditions. Her interviews with some of the industry’s top players offer insight into what’s new and what’s happening on the global jewellery stage.
