The final day in our series of panel talks for Positive Week focused on Luxury Jewellery and how innovations within the industry can meet the needs of the consumer whilst bettering their positive impact for the future. On the panel was Costantino Papadimitriou, Vice President of Strategy and Innovation for Forevermark at De Beers, Alan Frampton, Director at Cred Jewellery, and Tobias Kormind Co-Founder of 77 Diamonds. The panel was moderated by Stephen Armstrong of The Sunday Times.
Costantino Papadimitriou from Forever Mark opened the debate by explaining how Forever Mark is working similar to Positive Luxury in that it awards a mark to diamonds that meet a stringent criteria, and the diamonds are inscribed with the mark, and each Forever Mark diamond has full traceability. Alan Frampton of Cred Jewellery is trying to achieve a similar level of tracebility within the metal industry emphasising and Cred jewellery has pioneered a fully traceable supply chain something that he said needs to become the norm, ““Do you know where the gold in your wedding ring came from? Consumers are more aware and should be asking these questions.”
The Jewellery Industry is starting to show similar patterns to the food industry as more and more consumers demand to know where their Jewellery is mined and made. Costantino linked this idea with how luxury needs to lead within the industry but also how it is an essential trait of luxury, ““The consumer has expectations and are more conscious of making a positive impact. We as brands have to make the change and make sure that we provide assurance and integrity in what they are buying into.”
Tobias Kormind, Co-Founder of 77 Diamonds spoke about how the online community can educate the consumer and also how transactions online can build engagement and trust with the consumer, “Consumer habits have changed, almost everyone will do research online prior to making a purchase, we want to give power to the consumer to make an informed decision and to create the relationship of the local jewellers on a trusted online platform.”
The talk was incredibly informative and held a positive outlook for a more responsible jewellery industry going forward.