Features of the Book

The book uses a practical approach with clear photographs explaining each step of the process. It’s intended to help established jewellers, jewellery students, home crafters and advanced amateurs understand how to score and fold metal.

In addition to the techniques, the book includes a section with resources such as an analysis of score depth according to the gauge of the wire used, and information about where to source materials.

About the Authors

Anastasia Young is a London-based jewellery artist, author and lecturer with her work displayed in the permanent collections of the Science Museum, London and Central Saint Martins Museum. She currently teaches at Birmingham University.

Paul Wells, a London-based silversmith and jeweller, is known for his metalworking techniques. He has received two Gold Awards for Technological Innovation from the Goldsmiths’ Crafts and Design Council.

Praise for the Book

Charles Lewton-Brain, a master goldsmith and the author of the book “Foldforming,” said of the new book:

“This book is indeed a game changer. The authors took an important part of foldforming, scoring and bending, and explored and documented it thoroughly, a huge advance in foldforming information, an excellent job and a wonderful book!”

The book is available through Amazon and other retailers.

Sources indicate that the sale price approximately $530 million, although this is yet to be confirmed.

IGI’s Impact on the Jewellery Industry

IGI, founded in 1975 in Antwerp, holds the title of the world’s first gemological laboratory to hold ISO accreditation in both natural and lab-grown diamonds.

With a global presence of 29 laboratories and 18 schools of gemology across 10 countries, it has emerged as a leader in independent certification of diamonds, gemstones, and jewellery. Since 2005, IGI has led the certification of lab-grown diamonds, aiding the authentication and standardisation of a rapidly growing industry.

Roland Lorie, Chief Executive Officer of IGI, stated, “IGI has had a successful track record for close to 50 years since we founded the company, and we are pleased to entrust Blackstone to take IGI on to its next stage of development.” He also expressed his intent to “grow the business exponentially” under the patronage of Blackstone.

IGI on an upward trajectory

IGI’s net profit after tax rose 20% to $34.5 million in 2022, with total assets of approximately $83.2 million and net assets of $59 million.

Haide Hong, a Senior Managing Director in Blackstone Private Equity Group, said: “We have been hugely impressed by the development of IGI under the strong leadership of its management team and with the support of Fosun, and we are excited to partner with IGI to help accelerate its growth trajectory. With its strong brand and reputation of upholding the highest standards of quality and authenticity, IGI is well-positioned to benefit from the increasing popularity of gemology.”

Following the arrival of new Nivoda chief product officer James Morgan, who joined the company from Amazon Prime Europe in October 2022, Nivoda has outlined plans to expand its product range to include coloured gemstones. Additionally, the company will focus on introducing shorter delivery times and new payment and credit options to its platform.

Aiming To Make Global Trade Simple

Since launching in 2019, Nivoda’s marketplace has experienced substantial growth, now boasting over 1.6 million natural, laboratory-grown, and melee stones worth approximately USD $4.1 billion.

According to Nivoda’s co-founder and chief executive, David Sutton, the funding round was more than just an infusion of capital. “Within the first couple of calls with Taylor and Mathias from Headline, I could tell they shared our vision for Nivoda,” Sutton said. “They have already helped us unblock parts of our go-to-market and accelerate us in areas across the company. We are proud to have Headline as our lead investor in our Series A.”

Nivoda’s vision is clear: to build a trusted global marketplace for the jewellery industry by focusing on improving the customer experience and making global trade simple. This mission aligns closely with the needs of the UK jewellery industry, which continually strives for improved supply chain efficiency and better service for both retailers and customers.

Aiming To Improve the Diamond Supply Chain

One of the key points of interest for the UK jewellery industry is Nivoda’s potential to improve the diamond supply chain for more retailers – providing a marketplace that quickly sources, checks, and delivers diamonds in a matter of a few days.

Furthermore, Nivoda has demonstrated its commitment to assisting retailers in launching e-commerce presences through API feeds and e-commerce tools, including a Shopify plugin. This e-commerce support is invaluable in today’s digital-first retail environment, and UK jewellers can leverage these tools to enhance their online presence and sales.

The investment underscores the ongoing transformation of the diamond industry towards a more digital, efficient, and customer-focused model – something that both online and traditional bricks and mortar jewellers need to continue to monitor.

This move was announced at the recent G7 summit in Hiroshima, Japan, with the Prime Minister stating that he wants to ensure “Russia pays a price” for its actions in Ukraine.

Russia is the world’s largest diamond producer, with an output of 35,958kct for 2022, albeit an 8.08% decline from 2021. Russia’s diamond industry was worth approximately $4bn (£3.2bn) in exports in 2021.

The Size of The Impact in the UK

Russia is not directly a significant importer of diamonds in to the UK.

Britain imported $4.1 million worth of diamonds from Russia in 2022 compared with $188,794 in 2021.

Overall, Britain imported $1.628 billion worth of diamonds last year with 76% coming from Belgium, Israel, India and the United States.

There were no diamond imports from Russia in the three months to end-March 2023.

Russia, despite the sanctions, remains a major producer of diamonds. Kremlin spokesman Dmitry Peskov has stated that “the global market is fluid, rich in alternative destinations,” indicating that Russia may seek other markets for its diamonds than the G7.

Future Developments

It should be noted that the UK’s sanctions are set to become law later this year, implying that the ban is not immediate and that there may still be some room for manoeuvre in the short term. The UK government also plans to target sanctions against 86 more individuals and companies connected to Russian President Vladimir Putin, expanding on the existing sanctions that have targeted more than 1,500 individuals and companies and frozen more than $18bn worth of Russian-related assets.

Meanwhile, other countries including the US and Canada have imposed their own sanctions on Russia, with US President Joe Biden announcing last year that the US would ban imports of Russian diamonds, along with seafood and vodka. As global efforts to strangle Russia’s trade revenues tighten, the landscape of the diamond market continues to evolve.

The ban on Russian diamonds is a significant move, and its full implications will only become clear over time. As the situation unfolds, UK jewellers should stay informed about the developments and be prepared to adapt their sourcing strategies accordingly.

A story of fairness, sustainability, and respect for our planet. That’s the beauty of ethical jewellery.

As we become more conscious about our choices and their impact on the world, ethical jewellery represents a shift towards sustainable practices within the jewellery industry.

In this guide, we’ll explore what ethical jewellery is and why it’s more important now than ever before.

We’ll take you on a journey from the mines to the market, highlighting the process behind creating such pieces. You’ll learn about the positive impact of choosing ethical jewellery, both on the environment and on the lives of those involved in its creation.

We’ll also provide practical tips on how to make informed decisions when purchasing jewellery, ensuring that your choices align with your values.

What is Ethical Jewellery?

Ethical jewellery, also known as sustainable or conscious jewellery, is about more than just aesthetics. It’s about the impact our choices have on the world and the people who inhabit it.

At its core, ethical jewellery refers to pieces that are created with a commitment to social and environmental responsibility – pieces that look good and do good.

It’s about ensuring that every step of the jewellery creation process, from mining the raw materials to crafting the final product, is carried out in a way that respects the rights of workers, communities, and the environment.

Whether it’s a necklace made from recycled gold, earrings crafted by artisans receiving fair wages, or a diamond sourced from a conflict-free mine, ethical jewellery offers a way to enjoy the beauty of adornment while also making a positive impact on the world.

The Journey of Ethical Jewellery – From Mine to Market

The journey of an ethical jewellery piece is an intricate process, marked by careful decision-making at each step.

Let’s trace this journey, from the sourcing of raw materials to the crafting of the final product.

Step 1: Ethical Sourcing of Materials

The story of ethical jewellery begins with the sourcing of raw materials. This involves mining metals and gemstones in a way that respects the environment and the rights of workers. Ethical sourcing means prioritising mines that uphold strict labour and environmental standards.

Step 2: Fair Trade Practices and Artisanal Mining

Once the raw materials have been sourced, they are often processed by artisanal miners who extract the precious metals and gemstones by hand. Ethical jewellery brands ensure that these miners are paid fair wages and work in safe conditions.

Step 3: Eco-Friendly Processing

The raw materials are then processed in a manner that minimises environmental impact. This might involve using less harmful chemicals in the extraction process, recycling waste, and reducing water usage.

Step 4: Responsible Manufacturing

The processed materials are crafted into jewellery pieces by skilled artisans. Ethical jewellery brands ensure these artisans work in safe environments, receive fair wages, and are not subjected to exploitative conditions.

Step 5: Transparent Supply Chain

Finally, ethical jewellery brands maintain a transparent supply chain, providing clear information about where their materials come from and how their pieces are made. This allows consumers to make informed choices and supports accountability within the industry.

From the mine to the market, the journey of ethical jewellery is a testament to the possibility of combining beauty with sustainability and fairness. It’s a process that prioritises respect for the planet and its inhabitants, offering a shining example of what the jewellery industry can aspire to. In our next section, we’ll explore the impact of choosing ethical jewellery and how it contributes to positive change in the world.

How to Choose Ethical Jewellery

When it comes to choosing ethical jewellery, it’s not just about the final product. You also want to consider the journey your jewellery has taken, from the moment the materials were sourced to the moment it arrived in your hands.

Here are some tips to guide you in making informed choices:

1. Understand the materials: Ethical jewellery uses materials that are responsibly sourced, recycled, or lab-grown. Look for pieces made from recycled or fairtrade metals, lab-grown diamonds, and other sustainable materials.
2. Ask about the supply chain: A transparent supply chain is a key indicator of ethical jewellery. Brands should be able to provide information about where their materials come from and the conditions under which they were sourced and produced.
3. Look for certifications: Certifications like Fairtrade or B Corporation can provide reassurance that a company is committed to ethical and sustainable practices.

4. Consider the packaging: Packaging should be as sustainable as the product itself. Look for brands that use recycled or biodegradable packaging.

The Future of Ethical Jewellery

The future of ethical jewellery looks bright, as both consumers and industry players continue to move towards more sustainable, equitable, and transparent practices.

Conscious consumers, particularly younger generations such as Gen Z and Alpha, are prioritising sustainability and social impact in their buying choices, and appear willing to pay higher prices for ethical and sustainable jewellery.

This consumer trend is likely to shape the future of the industry, leading to the growth of ethical jewellery brands and increased accountability for established companies.

The Swan Lake Suite is a diamond and South Sea pearl necklace with matching earrings. It was made by Garrard, the British Crown Jeweller, for Princess Diana, and Diana reportedly had input into the design process.

She wore it at the British National Ballet’s Swan Lake performance on June 3, 1997. The necklace was a gift from Dodi Fayed, an Egyptian film producer and her partner at the time.

A pair of matching earrings were also being made for her, and after the event the necklace was given back to Garrad to make sure that the set matched. But they were not finished before Princess Diana died.

This event was one of Princess Diana’s last public appearances, before her tragic death in 1997. The suite was then sold with some of the money going to UNICEF, a charity that Diana supported.

Description of the Swan Lake Suite

The necklace, mounted in platinum, showcases a brilliant cut diamond and marquise diamond scroll motif centre, with a South Sea cultured pearl five stone and marquise diamond fringe drop.

The backchain features two rows of brilliant cut diamonds, tapering to a single row. The necklace contains 5 matching cultured pearls 12mm, 11 marquise diamonds 7.71 carats, 3 marquise diamonds 0.88 carats, and 164 diamonds totalling 42.35 carats.

The earrings are an elegant pair of brilliant cut diamond and marquise diamond fancy cluster top, South Sea cultured pearl drop earrings, mounted in platinum, claw set, to peg and clip fittings. The earrings contain 2 matching cultured pearls 12mm and 6 marquise diamonds.

The Auction

The Swan Lake Suite will be auctioned by Guernsey’s on June 27 at the Pierre Hotel in New York City. The set was first purchased at a Guernsey’s public auction in 1999 for under $1 million and was sold again in 2009 privately to its current owner, Mark Ginzburg, a Ukrainian real estate developer. The estimated value for this unique item is set between $5 million and $15 million, a broad range reflecting the challenge of appraising such a unique piece.

Auction house president Arlan Ettinger states, “It’s very difficult to try to anticipate what something like this will sell for. When items are appraised and estimated before an auction, they are based upon precedent…. This is unique and it is an impossible task.”

The Debut Amelia Scott Collection

The inaugural Amelia Scott collection is a celebration of vintage aesthetics, bold colour, and eye-catching sparkle. The range showcases an attractive colour palette of greens, pinks, purples, yellows, and oranges.

With pricing beginning at £69 for jewellery and extending up to £159 for more complex, ornate pieces, the collection offers affordability alongside luxury. Most of the pieces are crafted from 925 recycled sterling silver and adorned with colourful cubic zirconia.

Alongside the jewellery, the brand will also introduce a series of statement scrunchies which can be combined with the jewellery for a coordinated look. The scrunchies are designed in London, handmade in the UK, presented in a bespoke branded box and available from just £20.

The brand emphasises the versatility and collectability of the collection, with a guide provided to help customers coordinate their pieces.

The Designer Behind the Brand

Hebden previously held the position of Head of Creative for a well-known jewellery and watch brand. Her designs were included in the collections of notable department stores, such as Selfridges and Harvey Nichols. In 2020, she was recognised with a Retail Jewellers 30 Under 30 Rising Star Award and has received multiple Watch Pro Awards over her career.

With a decade of experience in the industry, Hebden has now turned her focus to creating a brand that is reflective of her personal style, emphasising colour and originality.

A Brand Built on Colour and Individuality

Reflecting on her motivation for launching the brand, Hebden shared, “I started to find my most ‘colourful self’ during and after lockdown – wearing colour really does improve my mood and I wanted to share the joy of colours with others.”

Amelia Scott’s mission is to encourage customers to celebrate their uniqueness and embrace colour. The official launch of the brand is scheduled for the end of June 2023.

As UK jewellers navigate the digital age, one AI tool stands out for its potential to revolutionise the industry: ChatGPT.

Developed by OpenAI, this AI language model presents a multitude of opportunities to enhance customer service, personalise marketing efforts, optimise supply chains, and more, all tailored specifically to the unique demands of the jewellery sector.

In this article, we’ll take a look at some practical applications of ChatGPT for UK jewellers and explore how this cutting-edge technology can be integrated seamlessly into existing workflows to maximise business efficiency and customer satisfaction.

Firstly, what is ChatGPT?

ChatGPT is a highly advanced artificial intelligence (AI) tool developed by OpenAI. It’s primarily a chatbot, which means it can converse with users in a way that feels very human-like. However, it’s also much more than that.

At its core, ChatGPT is based on a model called GPT (Generative Pretrained Transformer), which essentially means it was pre-trained on a vast amount of text data, including textbooks, websites, published papers, and various articles. This pre-training allows the AI to generate human-like text based on the input it receives.

One of the key features of ChatGPT is its natural language processing ability. This means it can “understand” or process human language inputs in a conversational manner. For example, if you ask it a question or give it a prompt, it can respond in a way that is both relevant and coherent. It can generate an essay on a given topic, write a business plan, answer questions, and much more.

ChatGPT by the numbers:

Since its public release in November 2022, ChatGPT has taken the world by storm, setting a record for the fastest user adoption for a software when it garnered 1 million users in 5 days and 100 million active users just two months post-launch.

While the uptake of the technology is impressive, businesses are still in the early stages of understanding how it can practically be integrated.

Business cases of Generative AI in retail

According to a new report by Insider Intelligence, the most viable and valuable use cases are believed to be chatbots, product descriptions, personalised product recommendations, content creation, automatic translation, data analysis, and product development.

But what could this actually look like for jewellers?

How can ChatGPT be used by jewellers?

1. Shopping assistants: E-commerce platform providers like Shopify and Instacart are currently working on incorporating ChatGPT into chatbots for shopping assistance. By integrating ChatGPT with customer data, a jewellery retailer could provide personalised recommendations to their customers e.g. if a customer has been browsing diamond engagement rings, the AI could send them an email or pop up a chat suggesting various options, answering questions about diamond clarity or offering advice on ring sizing.
2. Customer Service: ChatGPT could be programmed to answer common customer service inquiries, such as store hours, return policies, or information about specific pieces of jewellery. This could save human customer service representatives time and allow them to focus on more complex inquiries.
3. Content Creation: Writing product descriptions or social media posts can be time-consuming. ChatGPT could be used to generate engaging and detailed product descriptions or social media content, showcasing the jewellery in a compelling way, for example:

4. Language Translation: If the retailer sells to customers who speak different languages, ChatGPT could assist in translating product descriptions, customer communications, or even live chat conversations, helping to reach a broader customer base.
5. Fraud Detection: By analysing customer behaviour and transactions, ChatGPT could identify potential fraudulent activity, helping to protect both the retailer and the customers.
6. Training and Education: For larger retailers, ChatGPT could be used to create training materials or to provide ongoing education to staff about new products, trends in the jewellery industry, or company policies and procedures.
7. Voice Assistance Integration: With the growing trend of voice-enabled shopping experiences, ChatGPT could be integrated with voice assistants like Amazon Alexa and Google Assistant. This would allow customers to ask about product details, place orders, or track their deliveries using voice commands.

Limitations of ChatGPT

As a relatively new technology, ChatGPT does have some drawbacks, and it remains to be seen how easily it will be able to overcome these.

While ChatGPT can mimic human-like conversation, it doesn’t possess emotional intelligence. It may not fully comprehend the emotional tone of a customer’s message or respond with the same level of empathy and understanding as a human would, which can be crucial in customer service situations especially with an emotionally-charged purchase like an engagement ring.

Chat GPT can also get confused when answering complex enquiries. While it is great at handling common and straightforward customer queries, providing a recommendation on the best way to balance a diamond ring buyer’s budget and their desire for an impressive looking ring that doesn’t have any obvious inclusions is likely to be beyond it.

It’s important to remember that while AI tools like ChatGPT can be useful, they’re currently best suited as a complement to your staff, rather than as a complete replacement.

Intrigued? Here’s how to get started

If you’d like to dip your toe in and give ChatGPT a try, a good way to get a feel for how it works is to ask it to help you write some product descriptions.

First, sign up on the OpenAI website. ChatGPT is located under the ‘Product’ menu.

Start by giving ChatGPT a few product details and ask it to create descriptions.

For instance, your command could be, “Write a product description for a 14-carat gold necklace featuring a heart-shaped pendant adorned with diamonds.”

If the first output doesn’t quite hit the mark, don’t worry – you can refine it to make your instruction more precise. If you want the description to portray a romantic vibe, you could tweak your command to, “Create a romantic product description for a 14-carat gold necklace with a diamond-encrusted heart-shaped pendant, an ideal anniversary gift.”

It’s best at the moment to consider ChatGPT’s output as first draft and then edit it to match your needs. Even though the AI is quite sophisticated, it might not always grasp the distinctive voice of your brand or the specific nuances of your product.

Once you feel comfortable using ChatGPT for product descriptions, think about gradually broadening its responsibilities. This could include generating engaging social media content, addressing frequently asked customer questions, or even producing blog articles for your website.

But who are your customers, really?

As diverse as they are, most customers can be grouped into four basic types:

• Price Buyers
• Relationship Buyers
• Value Buyers
• Need-Based Buyers.

This categorisation can offer invaluable insights into their buying behaviour and help you tailor your sales approach.

This article delves into these customer types and provides tips for effectively selling to each.

The Price Buyer: Competitive Cost is Key

Price Buyers are customers driven primarily by cost. Their quest for the best deal often makes them less brand loyal; they’ll compare prices across different retailers to ensure they’re getting the most affordable option.

In the jewellery business, appealing to Price Buyers can be challenging due to the high value associated with jewellery items. However, this doesn’t mean they’re unreachable.

Offering competitively priced items, discounts, and deals can attract Price Buyers. Consider having a range of cost-effective pieces that don’t compromise on quality.

Additionally, clear communication about the real value and durability of your products can help Price Buyers justify their purchases.

The Relationship Buyer: Cultivating Trust and Loyalty

Relationship Buyers value the bond they form with a brand or a salesperson. They appreciate exceptional customer service and will become repeat customers if they feel their needs are met and they’re being treated well.

To cater to Relationship Buyers, strive to provide exceptional customer service. This includes understanding their preferences, guiding them through their purchasing journey, and providing after-sales service.

Consider implementing a loyalty programme, sending personalised messages on special occasions, or offering services like jewellery cleaning and maintenance.

Remember, the jewellery business isn’t just about selling a product; it’s about selling an experience.

The Value Buyer: Balancing Cost and Quality

Value Buyers seek the best balance between cost and quality. They’re willing to pay more if they perceive the product as having high value. They’re typically well-informed and do extensive research before making a purchase.

To attract Value Buyers, you need to demonstrate the value of your products convincingly. This could be done by educating customers about the materials used, the craftsmanship involved, and the longevity and timeless appeal of the pieces.

Offering a warranty or guarantee can also reassure these customers of the value they’re getting.

The Need-Based Buyer: Fulfilling Specific Needs

Need-Based Buyers have a clear, immediate need. They might be less concerned about price, relationship, or overall value if a product meets their immediate requirement. These customers might be looking for a specific piece of jewellery for an occasion or a specific design they’ve envisioned.

To cater to Need-Based Buyers, a wide variety of jewellery items and the ability to deliver on custom requests can be advantageous.

Quick response times and efficient service are also crucial for these customers who are often time-constrained.

Embrace the Diversity

Each customer type has distinct needs and preferences, and understanding these can significantly boost your sales and customer satisfaction levels.

Remember, however, that these categories are not rigid. A single customer may display characteristics of multiple types, depending on their situation.

In the end, the key to successful jewellery retailing is to embrace the diversity of your customers. By understanding the different customer types and adapting your approach accordingly, you can ensure every customer feels understood, valued, and satisfied with their purchase.

Whether they’re looking for the best deal, a trustworthy relationship, great value, or a specific piece, you’ll be equipped to cater to their needs and expectations.

This marks the twelfth consecutive increase in UK interest rates, driven by persistent inflation that has consistently surpassed the central bank’s expectations. Headline Consumer Price Index (CPI) inflation remained above 10% in March, significantly higher than in mainland Europe or the US.

Inflation Forecast Revised Upwards

The Monetary Policy Report (MPR) was published alongside the latest decision, detailing the BoE’s current assessment of inflation and the economic outlook.

Notably, the BoE has revised its growth and inflation forecasts upwards. The GDP forecast for Q2 2024 has been revised from -0.3% to +0.9%, marking the largest upward revision in the history of the independent central bank. CPI inflation for the same period has been revised up from 1% to 3.4%.

High Fixed-Rate Mortgages and Rising Inflation

The BoE highlighted the high proportion of households on fixed-rate mortgages as an important factor in the current interest rate cycle.

This factor has reduced the impact of rising interest rates on the household sector compared to historical levels of interest rates. Additionally, food inflation and higher than expected manufacturing and supply costs are key contributors to the inflation rise.

What Does this Mean for UK Jewellers?

Rising interest rates can have both positive and negative implications for the UK jewellery industry.

Impact on Consumer Spending

As interest rates increase, the cost of borrowing rises. This can lead to a reduction in discretionary spending as consumers may have less disposable income.

This could potentially result in decreased demand for luxury goods, including jewellery. Consequently, jewellers might need to consider innovative marketing strategies to maintain sales, such as promoting affordable luxury items or offering interest-free finance options.

Effect on Gold Prices

Interest rate rises often result in higher gold prices, as we have seen over the last 18 months.

Increased costs for can have an immediate and obvious impact profitability if we try as an industry to not pass these higher costson to the consumer. On the other hand, higher gold prices can also increase the perceived value of gold jewellery, potentially making such items more appealing to customers.

Currency Fluctuations

Higher interest rates can strengthen the value of the pound, making imports cheaper.

As many UK jewellers rely on imported gems and precious metals, this could potentially offset some of the increased costs associated with higher gold prices.

Planning for the Future

Given the BoE’s forecast, the jewellery industry should prepare for potentially more interest rate hikes. Monitoring inflation and labour market data will be key, as these factors will influence the BoE’s future decisions.

Customers often take time to consider their options, explore various designs, styles, and price points before making a decision. So, when a visitor comes to your website for the first time, it’s unlikely they will make a purchase straight away. This is where a digital sales funnel can come into play.

What is a sales funnel?

A sales funnel, in essence, represents the journey a potential customer takes from their first interaction with your brand to the final purchase.

It’s called a ‘funnel’ because, much like a real-world funnel, the number of people decreases as they move closer to the final stage—making a purchase. Here’s how it typically breaks down:

1. Awareness: This is the top of the funnel, where potential customers first become aware of your brand or products. This could be through a Google search, social media post, or even word of mouth.
2. Interest: After they know about you, they might show interest in your products. They may visit your website, follow you on social media, or sign up for your newsletter (via the email opt-in we discussed earlier).
3. Consideration: This is a critical stage where potential customers are comparing your offerings with competitors. They are considering their options, evaluating your products based on quality, price, reputation, etc. This is where your email marketing can play a key role, providing relevant information and gently nudging them towards your brand.
4. Decision: The prospect is now ready to make a purchase. They’ve chosen the product they want and are figuring out where to buy it from. This is the time to reel them in with a compelling offer or a strong call-to-action.
5. Action: The final stage of the funnel, where the prospect becomes a customer by making a purchase. But the journey doesn’t end here. Post-purchase services, follow-up emails, and requests for reviews can lead to repeat purchases and loyal customers.

The sales funnel is a continuous process, a cycle that repeats with every new prospect. Your email marketing strategy, coupled with the email opt-ins, plays a pivotal role in guiding potential customers through each stage of this funnel, ultimately leading them to choose your brand when they’re ready to make a purchase.

It’s a powerful way to nurture leads, build relationships, and turn prospects into loyal customers.

How an email opt-in forms can help move people through your sales funnel

Email opt-ins are essentially permission slips that allow you to send marketing emails to potential customers.

This is a powerful tool for nurturing leads and staying at the forefront of their minds during the consideration period. Here are some steps you can follow:

1. Create a Sign-up Form: Place a simple, user-friendly sign-up form on your website where it’s easily visible, like in the header, footer, or as a pop-up. The form should ask for at least the visitor’s email address, though you may also want to collect their name for personalised communication.\

2. Offer Value: To encourage visitors to share their email address, offer something valuable in return. This could be a discount on their first order, exclusive access to sales, or informative content like a guide to choosing the perfect diamond ring, for example.
3. Email Marketing Campaign: Once you have their email address, you can send them regular updates about your jewellery offerings, sales, events, and more. The key is to provide valuable content that resonates with them and gently nudges them towards making a purchase.
4. Personalised Follow-ups: With the data you collect, you can personalise your follow-up emails based on their browsing behaviour. If they viewed a particular item or category multiple times, you could send them more information or a special offer related to that product.
5. Engagement: Keep them engaged with interesting content about jewellery care, the latest trends, stories behind your pieces, or educational content about different gemstones. This will help establish a relationship and trust with potential customers.

Remember, the goal is not to push for an immediate sale but to stay in touch during their consideration period, build a relationship, and ultimately, be their chosen retailer when they’re ready to make the purchase.

This strategy can turn casual website visitors into loyal customers.

With shows like Pure, the Jewellery Show being one of the most highly anticipated events, standing out amidst a sea of competitors can be a challenging task.

Participating in these events can significantly enhance brand visibility, generate sales, and forge strong customer relationships.

However, to reap these benefits, it’s vital to set clear, realistic objectives. Whether it’s lead generation, enhancing brand awareness, or driving sales, defining your goals will guide your preparations and strategy.

Planning for a Trade Show

The key to a successful trade show lies in meticulous planning.

Start by setting a budget, considering all expenses such as the event space, travel, accommodation, and marketing. Additionally, take time to research your potential attendees and the retail stores you hope to attract.

Understand their needs and preferences to ensure a good fit between your collection and their interests. Remember, casting too wide a net may dilute your efforts; focusing on a targeted list of potential stores for better results.

Developing a Marketing Strategy

Your marketing strategy should be two-fold: pre-show and during the show.

Prior to the event, utilise email and social media campaigns to generate buzz about your participation.

However, avoid aggressive tactics like cold calling, as they are often ineffective and can deter potential clients.

Plan your marketing materials such as business cards, brochures, and press releases, ensuring they align with your brand’s identity and goals.

Assembling and Preparing Your Team

Your team is your brand’s ambassador at the trade show. Choose a team that can effectively represent your business and clearly define their roles.

Preparation is key; establish behavioural guidelines and expectations to ensure a successful performance. Conduct pre-show meetings to align everyone with the objectives and planned activities.

Designing Your Booth and Creating Experiences

Your booth is the first point of interaction with attendees, so it should reflect your brand’s identity and stand out from the crowd.

Get creative with your booth design, incorporating elements that are visually appealing and convey your brand message effectively. Additionally, consider unique in-booth experiences such as product demonstrations or even a champagne reception.

Attractive giveaways, like customised jewellery boxes, can also increase booth traffic. However, avoid pushy tactics, as these can discourage visitors.

Taking on a Speaking Role

If the opportunity presents itself, consider becoming a speaker at the trade show. This can provide a platform to share your expertise, establish credibility, and gain visibility in the industry. Remember, people tend to remember stories, so weave your brand narrative into your talk to make it more memorable.

During the show

Showcasing Your Products and Services

When deciding which products to showcase, consider your target audience and how you can differentiate your brand from competitors. Highlight your brand’s unique selling points and specialities.

For instance, if your brand focuses on ethically sourced gemstones, ensure that this narrative is clear.

Leveraging Social Media and Advertising During the Event

During the event, keep your audience engaged with live updates on social media.

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Use event-specific hashtags, share images of your booth, and announce any special offers. Additionally, consider collaborations with influencers or tagging event organisers to expand your reach.

Paid advertising can help overcome algorithm issues, ensuring your posts reach a wider audience.

Lead Capture and Follow-Up Strategies

Ensure that you have an effective method of capturing leads, such as badge scanners or lead capture apps. Scan every visitor to your booth to create a potential client database.

Following the event, promptly upload these leads to your CRM system and plan your follow-up actions. A quick response can increase the chances of conversion, so consider personalising your approach with handwritten notes or unique follow-up messages that remind them of their experience at your booth.

After the show

Post-Show Debriefing

The end of the trade show doesn’t mean the end of your efforts. Schedule a debrief call with your team to review performance, gather feedback, and identify areas of improvement. Understanding what worked and what didn’t is crucial for refining your strategy for future shows.

Trade shows are invaluable opportunities for businesses to connect, learn, and grow.

With careful planning, strategic execution, and consistent follow-up, your business can stand out at your next trade show, generating high-quality leads and opportunities for growth.

While this guide provides a comprehensive strategy for trade show success, remember that each event is unique. Keep refining your approach based on your experiences and feedback to ensure your brand continues to shine.

Remember, success at trade shows goes beyond the glitter and glamour.

It’s about making genuine connections, understanding your customer’s needs, and showcasing your brand in the best light. So, get ready to dazzle at your next trade show with a well-planned, focused, and customer-centric approach.

In addition to obtaining the domain, Queensmith has also employed a number of former Vashi staff members who were left redundant in the aftermath of the company’s collapse.

Vashi.com’s Domain Purchased by London Jeweller Queensmith

Vashi, previously known for its focus on bespoke jewellery and engagement rings, experienced a setback despite its impressive sales of £100 million in 2021 and a valuation of £250 million just a few months earlier.

The company failed to secure further investment from backers, leading to its closure in April 2023.

Although not part of the deal, Vashi had established physical stores in prestigious shopping areas, including London’s Bond Street and Covent Garden, with plans for future expansion in New York. However, the majority of Vashi’s business, approximately 80%, was conducted online, following significant investment in its website, brand, and digital presence during the pandemic.

Queensmith Welcomes Former Vashi Staff to its Team

Brand Director at Queensmith, Sam Nobes, commented on the acquisition, stating,

“Hearts of London Group is currently evaluating the strategic options for Vashi.com in the longer term, but a technical strategy is already in motion.

Vashi’s focus on bespoke jewellery and engagement rings, combined with its considerable investment in online and international expansion, made it a fortuitous strategic acquisition for the Group.”

Vashi’s Closure Despite Previous Success

This acquisition comes in the wake of Vashi’s recent downfall. Insolvency practitioners from Teneo

Restructuring were appointed following the filing of a winding-up petition by Canary Wharf Group, one of Vashi’s retail landlords. The appointment of liquidators implied that there was insufficient funding for Vashi to continue trading through a conventional administration.

Vashi, founded by Vashi Dominguez in 2016, operated four stores and employed approximately 200 people. Last year, the company embarked on a £75 million fundraising campaign to support its expansion into the United States. Despite its previous successes and notable investors, including JamJar Investments, Vashi faced challenges in raising significant sums of money and ultimately ceased operations.

Queensmith’s Strategic Acquisition and Future Plans

As Queensmith moves forward with its expansion plans, the acquisition of Vashi.com marks an important milestone in the company’s journey.

While Queensmith has acquired the domain, the company assumes no financial liabilities, responsibilities to historical customers, or obligations to fulfill any outstanding orders from Vashi.com.

Any inquiries from creditors, service providers, suppliers, or customers should be directed to Vashi’s joint liquidators, Teneo.

Queensmith, founded in 2016, is a multi-award-winning manufacturing jeweller and the largest retailer of lab-grown diamonds in the UK. Headquartered in London’s Hatton Garden, the business has experienced rapid growth since its inception and is known as a pioneer in direct-to-consumer and omnichannel fine jewellery retailing.

Part of the Watches of Switzerland Group, the brand is planning to double the size of its current store and introduce its new ‘Goldsmiths Luxury’ concept.

Goldsmiths Luxury

The Goldsmiths Luxury concept is the brand’s latest initiative to enhance the customer experience – the remodeled store will include a hospitality bar and lounge area, providing a relaxing environment for shoppers. The inclusion of VIP consultation rooms and trusted service and repair specialists aims to further underscore Goldsmiths’ commitment to customer service.

With an eye-catching wrap-around glass frontage and updated interior design, the new showroom is set to provide an attractive setting for a variety of high-end brands and quality jewellery offerings.

Liverpool ONE: A Growing Luxury Retail Hub

The updated store will sit alongside the existing Rolex outlet on Paradise Street – a popular spot for luxury retailers.

Rob Deacon, Senior Asset Manager at Grosvenor, has welcomed Goldsmiths’ expansion:

The considerable upsize, substantial investment and exciting introduction of Goldsmiths’ luxury concept at Liverpool ONE is a significant moment for both the brand and the destination.

Looking Ahead

The expansion news follows Liverpool ONE’s recent addition of luxury cosmetics retailer Space NK, further broadening the variety of premium brands on offer at the shopping centre.

The upcoming opening of the expanded Goldsmiths store, set for later this year, is expected to be a significant event for Liverpool ONE.

With a variety of luxury brands, a focus on customer experience, and the new Goldsmiths Luxury concept, the store aims to contribute to Liverpool ONE’s growing reputation as a key location for luxury retail.

Everledger, founded in 2015 by Leanne Kemp, has been an industry pioneer in utilising blockchain technology to ensure transparency in the supply chains of diamonds, art, high-end fashion, wine, and even luxury automobile manufacturing. Among its high-profile partnerships were luxury fashion brand Alexander McQueen and automaker Ford, with whom it collaborated to track electric vehicle (EV) batteries throughout their lifecycle.

Despite such promising collaborations and solid backing from investors, the company’s latest funding round with an unnamed investor fell through. In a statement, Kemp explained that the company found itself in a “difficult and unexpected position” when the second tranche of funding failed to appear.

Everledger was not short of prestigious backers, with the likes of Chinese internet giant Tencent, GMP Securities, Rakuten, and Fenbushi among its investors. Tencent, the owner of the popular social media platform WeChat, led Everledger’s Series A funding round with a $20 million investment and matched a further $3.5 million secured through the UK Government’s Future Fund in 2021.

Everledger’s collapse comes as a shock given its impressive fundraising history. Over the past eight years, the company raised over $51.7 million in external investment and secured $3 million from the Australian government’s blockchain pilot grant in 2021. Notwithstanding these substantial investments, the company was unable to continue operations and declared insolvency in April 2023.

Implications for the Jewellery Industry

Everledger’s administration is indeed a significant development in the jewellery industry. Its innovative use of blockchain technology offered a unique solution to the industry’s ongoing challenges of transparency and provenance, particularly in the diamond trade. Its fall might cause some disruptions in the short term, especially for those who have integrated Everledger’s solutions into their operations.

However, the void left by Everledger’s departure from the market also presents new opportunities. Other blockchain-based solutions providers may step in to fill the gap, possibly sparking innovations and improvements to the technology and its application in jewellery supply chain tracking.

Nevertheless, this development serves as a sobering reminder of the volatility and unpredictability of tech investments and the critical importance of sustained funding for the survival of start-ups. For jewellers and other industry stakeholders, this may prompt a more cautious approach when considering partnerships with tech-based solution providers.

The industry will undoubtedly be watching keenly to see how Everledger’s administration unfolds and the long-term impact this will have on the use of blockchain technology in the jewellery supply chain.

However, it wasn’t all gloomy news for retailers. Despite the overall downturn, some key shopping hotspots witnessed a surge in footfall, according to data from MRI Springboard. London’s Knightsbridge, for instance, bucked the trend with a hefty 57.7% increase in footfall between 10 am and 3 pm compared to the previous week.

This unexpected spike in certain locations is largely credited to public screens set up in towns and cities, allowing people to watch the Coronation. Notably, King Edward Street in Hull experienced a 3.9% rise in footfall, while New George Street in Plymouth saw a 7.8% uptick compared to the previous week. Sunderland’s Market Square, however, experienced a 20.5% dip in footfall during the event itself (from 10 am to 3 pm), but a noteworthy 11.9% rise over the 24-hour period.

The day after the Coronation, May 7, saw footfall data up to 12 pm suggesting a 6.4% decrease in footfall across all UK retail destinations compared to the Early May Bank Holiday weekend.

In conclusion, the Coronation of King Charles III brought about mixed outcomes for UK retailers, with the overall impact seemingly dependent on the local arrangements for public viewings of the historic event.

Queen Camilla

Queen Camilla, wore the iconic Coronation Necklace, featuring 25 graduated brilliant diamonds and the remarkable 22.48-carat Lahore Diamond, originally created for Queen Victoria in 1858, by the British Crown Jeweller Garrard. This is also the same necklace that Queen Elizabeth II, wore for her coronation in 1953.

Kate Middleton

Princess Kate, paying homage to her late mother-in-law, Princess Diana, wore her diamond and South Sea pearl earrings, adding a sentimental touch to her attire.

Princess Eugenie

Princesses Eugenie and Beatrice showcased their British heritage by selecting stunning pieces from the renowned royal London jeweller Garrard.

Princess Eugenie graced the ceremony with the ‘Albemarle’ white gold and diamond collar necklace, paired beautifully with white gold and diamond drop earrings.

Princess Beatrice

Princess Beatrice matched her bright pink outfit with the stunning ‘Blaze’ Hoop earrings from Garrard featuring Pink Sapphire, Rubellite, and Pink Opals.

The coronation jewellery worn by the royal family displayed a perfect blend of tradition, sophistication, and modernity, capturing the essence of a new era under King Charles’s reign.

The Gemological Institute of America (GIA) recently examined a lab-grown diamond that sets a new record. Its Hong Kong laboratory had the opportunity to study a 34.59-carat diamond, called the ‘Pride of India’ marking the largest faceted lab-grown diamond that the GIA has ever tested.

The diamond was produced by Ethereal Green Diamond, a company based in Mumbai that utilises the Chemical Vapor Deposition (CVD) process. The 34.59-carat diamond’s dimensions are 24.94 x 13.95 x 9.39mm.

The last record holder was a 30.18 carat diamond, also called the ‘Pride of India’, it was produced in 2022. The diamond was examined by the IGI and also made by Ethereal Green Diamond.

Characteristics and Quality of the Diamond

This emerald-cut lab-grown diamond has been graded as a G colour and VS2 clarity by the GIA. A notable characteristic is the presence of small black graphite inclusions, which are either within the diamond’s body or forming clusters between the diamond’s growth layers.

Additionally, the diamond features a weak “oily” or wavy graining on the table facet, which is often observed in gem-quality CVD diamonds. It also underwent a high-pressure, high-temperature (HPHT) annealing post-growth, a common practice used to enhance the diamond’s colour.

Observations from the Diamond Examination

The GIA’s examination of this diamond provides insight into the considerable progress in CVD diamond growth technology. The ability to increase the size of the diamond by 14% within a year is a clear indicator of the fast-paced advancements in this sector.

The GIA also noted the growth striations typically seen in CVD diamonds through fluorescence imaging. This suggests that the growth process remains consistent, even with the increase in diamond size.

Implications for the UK Jewellery Industry

The examination of this record-breaking lab-grown diamond has important implications for the UK jewellery industry. Primarily, it signals the rapid progression in lab-grown diamond technology. The capacity to produce larger, high-quality diamonds via the CVD process may pose a challenge to the traditional diamond market, positioning lab-grown diamonds as a more compelling alternative.

Moreover, the diamond’s quality and size could help shift perceptions about lab-grown diamonds. For consumers prioritising sustainability and ethical sourcing, these advancements can provide more options without sacrificing quality or aesthetics.

The UK jewellery industry may need to adapt to these changes, embracing the rise of lab-grown diamonds and integrating them into their product lines. This could lead to new avenues for growth and innovation.

Lastly, with India emerging as a key player in the production of large, lab-grown diamonds, the UK jewellery industry might see opportunities for diversified supply chains and new partnerships.

In summary, the 34.59-carat lab-grown diamond showcases the potential of CVD technology and is likely to influence the future direction of the jewellery industry.

New York, NY – In an effort to harness increasing consumer demand and sustain the prosperity of the natural diamond industry, the World Federation of Diamond Bourses (WFDB) has announced a new partnership with the Natural Diamond Council (NDC). This collaboration represents a proactive move in response to shifting market dynamics and a growing need for industry cohesion.

Alongside an initial financial investment, the partnership will focus on strategic initiatives to expand the reach and influence of natural diamond values. The WFDB, with its member bourses and individual members, aims to provide wider exposure for natural diamonds and leverage their unique appeal to consumers.

WFDB and NDC: Shared Vision for the Natural Diamond Industry

WFDB President Yoram Dvash commented on the partnership, expressing the WFDB’s appreciation for the NDC’s distinctive role in promoting natural diamonds. He said, “Today’s consumers have more choices than ever before and are heavily influenced by social media and digital platforms. It is crucial to present the natural diamond industry in a creative and authentic way. We believe that the NDC is successfully doing just that, and we want to support this very important work.”

The WFDB’s commitment to the promotion and support of the natural diamond industry is echoed by the NDC. David Kellie, CEO of the NDC, warmly welcomed the partnership and shared an optimistic outlook, stating, “We are very pleased to partner with the WFDB, which represents diamond traders all over the world. We believe that together we can find many ways to collaborate that will benefit the industry as a whole. Collectively we see considerable growth opportunities ahead, and we will redouble efforts to inspire and move consumers.”

The Impact on the UK Jewellery Industry

This newly formed alliance holds significant implications for the UK jewellery industry. The increased focus and investment in the natural diamond sector will likely stimulate the global diamond market, creating potential growth opportunities for UK jewellers.

The strategic partnership also offers the chance for the UK jewellery industry to amplify its voice on the global stage. As part of the WFDB, UK bourses may have the opportunity to actively contribute to shaping the future of the natural diamond industry.

Moshe Salem, WFDB Vice President, emphasised the need for a more unified industry approach. He said, “We believe that more stakeholders need to come together to invest strategically in the industry. This will help ensure the strength of the industry and will protect the millions of livelihoods that depend upon them, and especially the regions of the world for whom natural diamonds provide the resources for education, health and social infrastructure.”

Imagine you’re a jewellery store owner in Birmingham. When people in your vicinity type ‘jewellery store near me’ or ‘jewellery store in Birmingham’ into Google, you want your store to appear in the top results, preferably in the ‘Local Pack’ or ‘3-Pack’. This is the block of three business listings that appear below the map in Google search results:

This is where Local SEO comes into play.

Local SEO involves a set of specific actions and strategies designed to improve your visibility on Google and other search engines when people close to your physical location perform a search. It’s crucial for businesses like yours, where customers come to a physical location.

How Local SEO differs from ‘normal’ SEO

1. Geographical Component: Unlike traditional SEO, which focuses on ranking in search results across the country or even globally, local SEO prioritises appearing on SERPs in a specific location. This strategy relies on marketing your products, services, and brand to local leads and customers.
2. Google My Business: A crucial part of local SEO is the use of Google Business. By creating and optimising a Google Business listing, you can appear in local search results and Google Maps. This listing displays important information about your business, such as your address, hours of operation, and customer reviews. This isn’t something typically focused on in traditional SEO.
3. Reviews Matter More: Online reviews play a significant role in local SEO. The quantity and quality of reviews on your Google My Business page are one of the most important ranking factors for local search.
4. Local Link Building: In traditional SEO, any high-quality link would be beneficial. However, for local SEO, links from local businesses and organisations are particularly valuable.
5. Local Keywords: Local SEO focuses on local keywords, i.e., search terms that include location-specific phrases. For example, ‘jewellery store in London’ or ‘best jewellery shop in Manchester’.

In a nutshell, while traditional SEO and Local SEO share many similarities, the primary difference is the geographical component of Local SEO.

If you’re a jewellery store owner with a physical location where you want to attract customers, focusing on local SEO could be a game-changer for your business.

Maximising the effectiveness of your local SEO efforts

Here’s a step-by-step guide to getting started with local SEO for your jewellery store.

1. Google Business Profile: Your first step should be to claim and optimise your Google My Business listing. Fill out every detail, including your business name, address, and phone number (also known as NAP), your opening hours, and a link to your website. Make sure to choose the right category for your business, i.e., “jewellery store.” Add high-quality photos of your store and products, and encourage your customers to leave reviews. Remember, Google loves consistency, so ensure your NAP information is the same across all online platforms.

2. Local Keywords: Incorporate local keywords into your website content, meta tags, and URLs. These are keywords that include your location, like “jewellery store in London” or “best diamond rings in Manchester.” Google’s Keyword Planner can help you find relevant local keywords.
3. Website Optimisation: Make sure your website is user-friendly and mobile-friendly, as many customers will be searching for local businesses on their phones. Include your NAP information and your opening hours on your website, ideally in the footer so it appears on every page.
4. Local Business Directories: List your business on popular online directories like Yelp, Bing Places, and Thomson Local. Again, consistency is key – your NAP information should be identical across all listings.
5. Online Reviews: Encourage your customers to leave reviews on your Google My Business listing and on other review platforms. Positive reviews can significantly boost your local search rankings. Be sure to respond to all reviews, both positive and negative, in a professional and timely manner.
6. Local Links: Try to get links from other local businesses, community groups, or local news sites. This could involve sponsoring a local event or collaborating with a local fashion blogger. These local links signal to Google that you are a trusted business in your area.
7. Social Media: Use social media platforms to engage with your local community. This can help increase your local visibility and drive traffic to your website.
8. Schema Markup: This is a bit more technical, but adding local business schema markup to your website can help search engines better understand and display your business information.

Remember, local SEO is not a one-off task but an ongoing process. Regularly update your Google Business listing, continue creating local content, and keep engaging with your local community.

With time and effort, your local SEO strategies can help your jewellery store stand out in local search results, attracting more customers to your store.