CIBJO Congresses serve as the official gathering place for the World Jewellery Confederation’s Assembly of Delegates, and also are the venue for the annual meetings of CIBJO’s sectoral commissions, where amendments can be introduced to the organisation’s definitive directories of international industry standards for diamonds, coloured stones, pearls, gem labs, precious metals, coral and responsible sourcing, known as the Blue Books. Congresses are also where the programme of the World Jewellery Confederation Education Foundation (WJCEF) and CIBJO’s ongoing cooperation with the United Nations is reported upon, and in particular its commitment to the UN’s Sustainable Development Goals.
The 2024 CIBJO Congress held in November 2024 in Shanghai China served as a critical platform for industry leaders to collaborate and define strategies that keep pace with evolving consumer expectations while fostering sustainable growth and innovation.
Damien Cody, President of International Colored Gemstone Association (ICA) made this compelling speech in the Congress.
Where is the romance…..?
The jewelry industry has demonstrated remarkable resilience and endurance over a period which dates back to pre-history.
Evidence of jewellery beads made from seashells, bones, teeth and stones date back to the Palaeolithic period 75,000 years ago.
We draw great strength from the jewellery industry’s almost bullet proof feat of endurance. Unlike most industries, our industry has endured through disasters, wars, religious crusades, collapse of economies, cultural revolutions, changing social fashions, changing trends and technological advancements.
This resilience has been driven by many factors:
- Jewelry has been deeply woven into cultural practices such as gift giving, tokens of affection, celebrations of life-cycle moments.
- Jewelry is used for adornment, artistic expression or as a fashion accessory.
- Jewelry is often used as an amulet or a charm with spiritual meaning or astrological qualities.
- Jewelry has been treasured as an heirloom and this ensures that the tradition passes on through generations.
- Jewelry and gems have been used as a preferred store of wealth or a safe-haven asset.
- The market diversity and wide range of prices and qualities allows the industry to maintain demand across different economic segments and adjust to changing consumer trends.
- New and Emerging markets, where economic growth is creating new classes of consumers, is constantly expanding market segments and adding layers of demand.
- The adaptability of the industry to embrace new technologies like social media and e-commerce has helped attract new audiences.
So …… can we please make sure that we are not the generation that triggers the decline and fall of this mighty industry.
How could this failure happen you might ask? Here are the 5 biggest risks in my opinion:
Failure no 1. Erosion of consumer confidence – so let’s provide full and honest disclosure about our products, let’s use consistent terminology and gemmological reporting.
Failure no 2. Allowing others to set unreasonable goals for transparency of our colored gemstone supply chain – let’s drive the narrative to ensure we help the consumer understand the complexity of the supply chain and instead celebrate the role of artisanal miners and cutters.
Failure no 3. Greenwashing– let’s stamp out this practice which generally starts with a very negative premise and is followed by un-substantiated claims.
Failure no 4. Commoditisation – Let’s learn from the lessons surrounding the Lab-grown diamond issue. Let’s share the wonderful stories about the rarity, the beauty and the efforts of so many to bring these beautiful stones to market.
Failure no 5. Being un-sustainable – Let’s make every effort to reduce our foot-print and do no harm so that future generations can prosper.
And how about this for an idea……
Let’s focus less on the negativity and bring back the love, the romance, the spontaneity and the joy attached with the purchase of jewellery.
Article about the CIBJO Congress Shanghai China in November 2024:
Articles about CIBJO:
https://gem-spectrum.com/tag/cibjo
Articles about ICA:
https://gem-spectrum.com/tag/ica
