Articles and News
INDUSTRY NEWS: PGI’S NEW AD CAMPAIGN; DIAMOND PRICES STEADY LAST MONTH; GOLD TO EDGE UP AGAIN, MORE September 05, 2012 (0 comments)
PGI-USA Launches New “Test of Time” Multimedia Campaign
NEW YORK, NY—Platinum Guild International (PGI-USA) has launched a successful new online multimedia media campaign called “Test of Time” to highlight platinum’s unfading and unchanging nature. The program consists of various elements, including an expandable banner ad that contains video with style tips and platinum information, a gallery of jewelry to browse, and an interactive ring for consumers to learn more about platinum. Banners are hosted on The Knot and Martha Stewart Weddings websites, and a static banner ad lives on retailer David’s Bridal website. The campaign is designed to provide further education on the benefits of platinum, particularly that it is a pure white metal that will never fade. All of the units lead the consumer to additional platinum education on www.preciousplatinum.com.
The campaign is one of the most effective for PGI to date. It is currently outperforming industry benchmarks with a click-through rate of 0.35%, versus a 0.13% average for jewelry ads; interaction rate of 3.08% versus 0.09% average; a 0:30 seconds average time spent on the banner versus 0:09 seconds average; and higher quality traffic to PGI’s website preciousplatinum.com, with up to 2:39 minutes spent on the site and 2.34 pages per visit versus the historical expectation of 1:55 and 1.89 respectively.
“Platinum is the best choice for engagement rings, wedding bands and other fine jewelry that symbolizes life’s most memorable moments,” says PGI-USA President Huw Daniel. “The ‘Test of Time’ creative schematic brings the qualities of platinum to life in a way that allows the consumer to make this connection and the overwhelming response has proven this.”
The PGI “Test of Time” expandable banner ad morphs through the four seasons, each with a different attribute of platinum. This is a reduced version; to see the full banner in action, click here.
Separately, the results are in for the Martha Stewart Weddings Fan Favorites contest. Fans of the newly re-launched Platinum Jewelry Facebook page were invited to vote for their favorite platinum pieces by “liking” their preferences from a gallery of over 80 designs. 40 designs were chosen and are currently housed on the Martha Stewart Weddings website with an icon designating them “Platinum Fan Favorites.” Some of the winning brands in the MSW jewelry gallery include: Danhov, Tacori, Uneek Fine Jewelry, Novell, JamesAllen.com, and Designs by Vatché. For the full list and photos, click here.
Rapaport: Certified Diamond Prices Relatively Stable in August
New York, NY—Certified polished diamond prices were relatively stable in August, easing the steep declines witnessed in previous months, says the RapNet Diamond Index (RAPI). In August, the index for 1 ct. certified diamonds fell less than 1%, at 0.8%. RAPI for 0.3 ct. stones rose 0.4% while RAPI for 0.5 ct. diamonds declined 0.7%. RAPI for 3 ct. diamonds was basically flat, or up 0.1 percent, during the month.
During the first eight months of 2012, RAPI for 1.0 ct. diamonds fell 9.5%, and is down 16.7% from one year ago.
According to the just released Rapaport Research Report, “Fragile Improvement,” sentiment improved toward the end of the month. There is steady demand for inexpensive, lower quality diamonds, while demand for better-quality stones remains weak.
Diamond miners have restricted production and withheld supply as sightholders rejected their high-priced De Beers and ALROSA rough in the May-to-July period. Sightholders welcomed the rough price reductions that took effect at the end of August as De Beers cut prices by about 10 percent. Cutters hope that cheaper rough will return profitablility to the manufacturing sector and stimulate rough trading on the secondary market in the coming weeks. Diamond cutters have restricted manufacturing due to low profits and tight liquidity and hope that the recent rough price declines will relieve those pressures.
The IIJS show in Mumbai in late August and subsequent rough price reductions helped lift market sentiment slightly last month, but expectations remain low for the Hong Kong show, beginning on September 19.
The report “Fragile Improvement” can be found at www.diamonds.net/reports or by emailing specialreports@diamonds.net.
Expect Gold To Edge Up Slightly, Says GFMS Report
London, United Kingdom—Continued uncertainty in global financial markets has been pushing gold gradually upward, and a new report released this week by Thomson Reuters GFMS bullishly forecasts continued increases, predicting the metal will top $1,800 the ounce by year’s end. The consultancy does not, however, anticipate gold hitting last year’s peak prices of over $1,900.
Philip Klapjiwk, global head of metals analytics at Thomson Reuters GFMS, said he’s confident the lows for the year are behind us, and the highs are yet to come. He also indicated it may be a bumpy, volatile ride, depending on what happens in the Eurozone and with the U.S. Fed.
Chief factors impacting the gold price are governments’ monetary and fiscal policies, economic slowdown in Europe and China, and an easing of jewelry demand in India and, to a lesser degree, China. The volume of scrap supply is not predicted to change significantly, while mine output increased only incrementally.
GIA Lab Opens in Israel
Ramat Gan, Israel—The new GIA (Gemological Institute of America) laboratory in Israel’s diamond center in Ramat Gan opened this week with a special inaugural ceremony hosted by Moti Ganz, chairman of the Israel Diamond Institute Group of Companies (IDI), and Avraham (Bumi) Traub, president of the Israel Diamond Manufacturers Association. The event featured key speakers Avigdor Liberman, Israel’s Foreign Minister and Deputy Prime Minister, and Donna Baker, GIA president and CEO. The event was attended by several hundred industry members.
The new facility, which will accept diamonds up to 2.99 carats for grading immediately, will provide on-site lab services, including GIA Diamond Grading Reports, Diamond Dossiers and related services.
DEF Relaunches Website, Hosts ‘Back-To-School’ Fundraising Drive
New York, NY—In the spirit of back-to-school season, the Diamond Empowerment Fund has launched its own online “back-to-school” promotion to benefit student scholars from its three beneficiaries, CIDA City Campus and African Leadership Academy, both based in South Africa, and the Botswana Top Achievers Program. Donations as small as $10 can help support student scholars through these institutions. Donations of $199 or more will receive a thank you DEF Green Malachite or Black Onyx Empowerment bracelet. Details can be found on DEF’s newly redesigned website.
Weinrich Promoted to Head JCK Events
Norwalk, CT--Yancy Weinrich, formerly industry vice president, is now group vice president of the JCK brand. Weinrich joined the JCK Events team in 2004 and has been in the jewelry industry for 17 years. In her new role, Weinrich will be responsible for the overall strategic direction and management of the entire JCK Events portfolio, including JCK Las Vegas, LUXURY, Swiss Watch at JCK, and the LUXURY Privé events.
MJSA Education Foundations Awards over $5,000 in Student Scholarships
Attleboro Falls, MA—To further the next generation of talented jewelry makers and designers, the MJSA Education Foundation recently awarded $5,400 in scholarships to six students enrolled in graduate or undergraduate degree programs across the United States. Each student received $900 toward jewelry education. They were: William Sammut of the College for Creative Studies in Detroit, MI; Sara Cochran of the Pratt Institute in New York City; Kristen Glanzman of Montclair State University in New Jersey; Alexander Walker of Kendall College of Art and Design in Grand Rapids, MI; Chelsey Hammersmith of Bowling Green State University in Ohio; and Jessica Armstrong of Edinboro University of Pennsylvania.
Since 1997, the MJSA Education Foundation has awarded nearly $165,000 in scholarships to students enrolled in jewelry-related degree programs at colleges, universities, and technical schools throughout the United States. Any student in a jewelry program who intends to pursue a career in the jewelry industry and who can demonstrate financial need is eligible to apply for a scholarship. To learn more, click here.
Economy No Deterrent for Top Quality Colored Gemstone Prices
Hong Kong—Some top colored gemstones, such as fine ruby and emerald, are still experiencing price hikes despite Europe’s debt crisis and the slow U.S. recovery, said Wilson Yuen, president of the International Colored Gemstone Association during the first Jewellery News Asia (JNA) Chinese Online Conference August 23.
“The colored gemstone market has witnessed larger demand. People value the rarity of gems that take thousands of years to form and decided to invest on them. The price of gems is heading to a positive direction. Among all those countries, China is a huge market with full potential”, said Yuen.
China’s colored gemstone market has been rocketing during the past few years. According to a research conducted by Gems & Jewelry Trade Association of China, the sales figure of jewelry and gem reached 300billion RMB (around 45 billion US dollars) in 2011, up 20% from 2010.
The online conference was hosted by JNA and sponsored by UBM. It was the first Chinese online forum featuring the latest development in China’s colored gemstones market.