The Jewelry District

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss the Dubai Horology Forum in New York, the Facets 2022 conference in Antwerp, and Victoria’s tour of Cartier’s watchmaking facilities.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Eric Ku, watch “super dealer,” cofounder of Loupe This, and founder of 10 Past Ten and Los Angeles Watchworks. Eric recounts the origin story of when he first started his collection of mechanical watches, the beginnings of watch-collecting on the internet, the evolving relationship between brands and the pre-owned market, and he names a few micro-brands that have yet to get their due.Show Notes02:20 – The hosts introduce Eric Ku04:20 – How Eric came to own his first watches08:10 – The early days of the internet and online watch collecting10:15 – Eric’s main business focuses15:00 – Brands’ relationships with the secondhand market20:45 – How Loupe This got started25:00 – Some great lesser-known watch brands27:30 – Eric’s first watch, “the one that got away”Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: loupethis.com, 10pastten.com, lawatchworks.com, @jckmagazine, JCKonlineShow RecapEric’s Watch Origin StoryEric talks about where his love of watches came from. He subscribed to National Geographic and always noticed the Rolex ad on the back cover. In particular, he has been interested in mechanical watches and the history behind them. While in college at the University of California, Berkeley, Eric didn’t find a lot of others who shared his interest, however.When Eric came into some money playing the stock market in college, it allowed him to buy some of his first nice watches. Soon after, he lost that same fortune the same way he had made it and had to sell them all. In a way, this quickly introduced him to both sides of the watch-selling business.Eric’s first watch? An Omega Speedmaster Automatic with a clear display back. Back when he had purchased it, it cost him $999. At the time, he thought that this price was the benchmark for a “nice” watch. His first vintage watch was a Rolex Red Submariner. He got it in Columbus, Ohio, at an NAWCC (National Association of Watch and Clock Collectors) show. From the beginning, Eric had been drawn to Rolex because of the brand’s tie to feats of human ingenuity dating back to the 1930s.The Watch Market Now and ThenDuring the early days of the internet and internet watch collecting, his friends used to fax pictures of watches to him! It was an active scene. He talked to other collectors online. He looked at other sites to learn about watches. The commercial part of it was at trade shows, not online yet. NAWCC would have a show in Pasadena, Calif., twice a year. He would attend these regional shows, walk around, meet people, and all the trading would happen there.Eric’s Collection of Watch BusinessesWhat are Eric’s main business focuses? He started 10 Past Ten in the early 2000s, which is a website that sells vintage Rolex sport watches. This is one of the segments that is most heavily collected. It started as a part-time job. After a “moment of clarity,” he gave notice at his day job, rented an office, and never looked back.Six years ago, Eric partnered with his friend Beau Goorey and started Los Angeles Watchworks, a repair and restoration business for fine Swiss watches based in Pasadena. They are known for their cosmetic work on watches, preserving the original look and feel while catering to the whims of watch collectors.How does he handle counterfeits? With these fine vintage watches, it’s all in the details. There are specific tiny details that are not always original. With vintage watches, you won’t see a counterfeit that is perfect. It’s harder to replicate watches that are handmade.Brands Embracing the Secondhand MarketThough they used to thumb their noses at it, brands are increasingly embracing the pre-owned market. Eric gives the example of Richemont, which bought Watchfinder (a secondhand watch business on the internet), and they slowly integrated it into their dealer network. They’ll look at trade-in watches and accept a customer’s trade-in as credit toward a new purchase. With new watches, there is a keystone. The margins are thinner for secondhand watches. Eric notes that the lack of availability of some new watches is an interesting factor. It benefits these brands to offer pre-owned watches, so that there is still some inventory.Primary and Secondary Market InterplayVictoria asks about the relationship between the primary and secondary markets. When there’s nothing available in the primary channel, people flood the secondary market with demand, and prices rise to extreme heights. Now that the prices for these hyped watches are going back down in the secondary market, what is Eric seeing in the primary? Does he see a link between the two? Eric has not seen interest in the primary market cooling just yet. Most authorized dealers would likely agree, they continue to have a waiting list for certain models of new watch. He notices that the retail prices of these watches are much lower than their market value.W

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss Signet's acquisition of Blue Nile, what it means for the brand and how they might evolve as a result. Victoria reports on her research into fall's biggest fashion trends, which include animal motifs and a resurgence of the power-dressing era of the 80s and 90s. Show Notes03:00 Signet is acquiring Blue Nile12:00 Victoria reports on the latest in fall fashion19:00 80s and 90s jewelry styles are on trendEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapSignet to Acquire Blue NileBig news in the dog days of August: Signet is acquiring Blue Nile. This is part of Signet's pattern: they keep acquiring the competition. One of the things current management is focused on is growing market shares. And this is the easiest way to accomplish that. However, there are high customer acquisition costs that have to be paid to Google and Facebook. Google, Facebook and other companies like them have gotten so large, it places a burden on other competition because of the high expensive to advertise online. Rob sees this as a troubling sign on a higher level.The deal will likely contribute to the long-term sustainability of Blue Nile's brand. But people worry how many businesses are all consolidated under one large umbrella. Victoria wonders how Blue Nile might evolve under Signet. It's not clear where the brand will fit among the other jewelry brands under Signet now.Victoria recalls the interesting things that Blue Nile has done in recent years: Their 10 by 10 collaboration with De Beers and designers of color, for example. They want to be a brand that speaks to people, not "the Amazon of jewelry."Themes in Fall FashionVictoria has been doing research into the latest fall fashion trends and reporting on them in the JCK Special Report newsletters. Here are a few themes she's been noticing, to help inform what jewelers may want to stock. A surprising but endearing trend gaining steam is animal-inspired jewelry. Though this has been going on for thousands of years, there are times when the motif gains steam. Victoria spoke to an expert on this category: Marion Fasel, jewelry historian and founder and editorial director of The Adventurine. She worked on the Beautiful Creatures exhibit at The American Museum of Natural History. The two animals that come up over and over again, according to Fasel? Snakes and butterflies.Snakes have a beautiful shape that lend themselves to jewelry, which can symbolize wisdom and eternal love. The butterfly has emerged in many jewelry collections this year. Symbolizing rebirth and transformation, it's particularly resonant to people right now as we begin to emerge from the pandemic. Victoria describes some collections she's seen that feature interesting creatures as pendants. In the vintage space, sales of animal-inspired pieces are soaring, as well. The zodiac trend also contributes to the popularity of the animal theme, since many of the symbols of the zodiac are animals as well.80s Jewelry Makes a ComebackThough it might be surprising, jewelry from as recent as the 90s can now technically be considered vintage. And, according to many estate jewelers, the 80s and 90s aesthetic of jewelry is coming back. Part of the reason is because these pieces are coming into the market. But, it's more than that. Victoria explains "the golden 40-year rule." A wave of nostalgia comes over the creators of pop culture and fashion of their childhood as they age. As a result, certain eras of fashion make a comeback after a certain amount of time has passed.Something about the 80s and 90s look is taking hold: Power-dressing, strong female characters, big glamorous bold jewels. That vibe is coming back. Though it might be out of step with the economy, the trend still exists within our current environment. How does it translate to jewelry? Big chains (think: Madonna's pile-on phase), large dramatic hoops, and other big, bold styles. The bold gold look. Even for generations who don't remember the 80s, they are part of our general pop culture, so Gen Z may be drawn to these looks as well. The thing about jewelry trends is they always come back.Other motifs and trends that are coming into their own are turquoise, evil eye, and other protective symbols. A single "wow" piece may start to take the place of dainty layers. When the economy starts to make things go up in price, mixed metals tend to gain more popularity, too. There's a fascinating mix of cool jewelry out there right now, and Victoria hopes people will take advantage of it.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Mark Smelzer, chief content executive of Jewelers Mutual and JCK’s former publisher.Show Notes01:33 The hosts welcome their guest, Mark Smelzer03:30 Mark talks about his background in the jewelry business07:00 Mark recalls his first impressions of the industry10:10 The role of print today13:15 The shift to content marketing19:30 Mark’s prediction on jewelry sales21:20 What can we do better?23:50 How the industry has changedEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jewelersmutual.com, @jckmagazine, jckonline.comShow RecapMark’s BeginningsMark started in magazine ad sales in Los Angeles. He became the publisher of a city magazine called Buzz. When it went under, he moved to Variety—the entertainment trade publication, which is what eventually drew Mark to New York City. After a corporate shake-up at Variety, he was informed that he was the publisher of JCK magazine. Hedda Schupak, JCK's editor-in-chief at the time, said, “Welcome to the jewelry business. It’s not unlike the Hotel California. You can check out any time, but you can never leave.” Eighteen years later, her words ring true.His First ImpressionsMark knew very little about jewelry in the beginning, not having much personal connection to it. He reflects on how much the industry has changed in 18 years. It used to be more male-dominated and traditional, but it's always been warm and welcoming. It was the first time he had to sell advertising directly to business owners.The Evolving Role Of PrintMark compares his time in publishing to selling horse-and-buggies right before the advent of the Model T. There are areas where print still resonates: city magazines, niche books, and catalogs. “Print is not dead, but, boy, did it morph and change," he says.The Shift To Content MarketingThere was a gradual shift from writing stories and articles to writing “content.” When the internet became usable by laypeople, the ability to publish content became more widely accessible to the masses. Victoria ties this shift to what Mark is doing at Jewelers Mutual with the Zing Report. His task was to raise awareness of the Zing marketplace—a hub for the variety of services that Jewelers Mutual offers. Content includes upbeat articles, interviews, and more.Jewelry Sales PredictionsMark hopes the pandemic sales spike will continue. He says that the pandemic reminded a lot of people of the emotional side of jewelry. Will the industry be in a better place than it was pre-pandemic? That remains to be seen.What Can The Industry Do Better?What do we need to overcome in the current economy? The jewelry industry could be more digitally savvy. Retailers should work toward making the in-store and digital experience more seamless. Mark remembers a “Got Milk”–style campaign he worked on with Jewelers of America. It raised awareness of jewelry using the slogan, “Another piece of your story." Then the pandemic came along, it was shelved, and jewelry had such a great two years that it was no longer needed.How The Industry Has ChangedIt has become a younger, broader industry with more diversity and inclusion. The jewelry business is richer when a greater variety of people is included. He ties how energizing that experience of connection can be to Jewelers Mutual’s upcoming retreat, Conversations in Park City, which will feature networking opportunities, meaningful conversations, big ideas, and fun activities.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk about secondhand watch prices, the cost of entering the jewelry business, and an early look at a diamond documentary.Show Notes00:30 Victoria talks about the secondhand watch industry and its fluctuating prices.13:24 Victoria questions the economic barriers to getting into the diamond industry.17:53 Rob reviews the new diamond documentary Nothing Lasts Forever.Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapSecondhand WatchesVictoria comments that it’s a little bit slow in the jewelry industry in July, but it’s a nice break from the busy earlier months. She then dives into the secondhand watch market and the online auction market. The companies she spoke to have seen great success, and there’s been growth in both sales and new buyers. People are flocking to online auctions because of the pandemic, and prices are fluctuating at the moment, so market value isn’t exactly clear. Auctions help determine that market value. Rob asks how the most well-known brands have reacted to this. Victoria said they were definitely watching and hugely discouraged it.The Cost of Entering the Jewelry BusinessVictoria says it’s very expensive to enter the jewelry industry unless you already have family ties or come from a great deal of wealth. To amass the materials and create a jewelry line is an incredible task, and an expensive one at that. There are PR, trade shows, photography, and more that all cost money to get your brand out there. This isn’t to take away from the quality of jewelers’ design capabilities, but it's important to note that all aspects of this business take tremendous amounts of capital. Emili Vesilind wrote about how to get your business started in this JCK Pro article. She posits that it takes a bare minimum of $37,000 to start a jewelry business, which doesn’t encourage diversity in the jewelry industry.Nothing Lasts ForeverRob wrote a review about the new documentary about lab-grown diamonds, Nothing Lasts Forever, airing this fall on Showtime. Rob says it was a beautifully shot film and describes it as an odd experience and hard for him to be objective about, as he knows so many people in the movie. He believes most people will be unhappy with this film, and that it was slanted against the natural diamond industry. Nothing Lasts Forever is scheduled to stream on Showtime in September.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Mithun Sacheti, CEO of CaratLane.Show Notes00:30 Victoria and Rob introduce their guest Mithun Sacheti, CEO of CaratLane.07:17 Mithun compares CaratLane to Blue Nile.10:15 Victoria asks about his early business.14:42 Mithun describes his most recent experience at the JCK show.16:09 Mithun talks about Tanishq purchasing majority share of CaratLane.21:00 Rob asks about CaratLane’s brick-and-mortar stores.Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazine, CaratLane.comShow RecapIntroducing Mithun SachetiMithun Sacheti is the CEO of CaratLane, which is often described as the Indian version of Blue Nile. He spoke to JCK from the southeastern coast of India. His mother and father were in the jewelry business, and Mithun describes it as a “generational business,” which is how he got into it himself. Mithun studied at GIA and worked briefly in San Diego. When he returned to India, he opened his own jewelry store.Blue Nile InspirationMithun compares the Indian jewelry business model to the business in the United States. Mithun says he learned from Blue Nile that you have to find the easiest place to enter the industry. In India, while diamonds are fine to sell, its real strong point is selling jewelry as opposed to loose diamonds and engagement rings. In the early days, Mithun describes a hostility similar to what Blue Nile faced in its early days.Building the BusinessVictoria asks how Mithun coaxed people to buy originally, and he said initially consumers were resistant. CaratLane built a try-at-home model in an attempt to get people to buy their diamonds, which ended up being successful. Mithun doesn’t think this model would necessarily work in America.The JCK ShowMithun was just at the most recent JCK show—the first one he attended was back in 1998. Victoria asks for his take on this year’s JCK show, and Mithun said it was all about making connections.TanishqIn 2016, Tanishq purchased a majority share in CaratLane. Tanishq is the largest jewelry company in India and has been around for 25 years now, with a market capitalization close to $1 billion. Mithun says Tanishq has been a great partner, and CaratLane has been able to grow on a much faster scale thanks to its involvement. Victoria asked what other kinds of things CaratLane has tried as a company, and Mithun describes a virtual try-on, different from augmented reality, that didn’t pan out. One thing that worked very well was building an omnichannel network.Brick-and-MortarRob asks why CaratLane believed it needed a brick-and-mortar store when it was successful online. Mithun believes there is a need for tactile jewelry shopping, even though consumers find jewelry online.(Photo courtesy of Mithun Sacheti)

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss former JCK editor-in-chief George Holmes’ legacy, LVMH's investment in Lusix, and Russian diamonds and Ukrainian jewelers.Show Notes00:30 Victoria and Rob remember former JCK editor-in-chief George Holmes13:51 Victoria reports on the state of the industry17:15 Rob reports on LVMH’s investment in Lusix20:03 Victoria and Rob talk about Russian diamonds and Ukrainian jewelersEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapRemembering George HolmesGeorge Holmes, JCK’s former editor-in-chief of 22 years, died last month. Victoria describes his as a legendary editor. Rob talks about his time working with him and says he was gracious and intelligent with unyielding editorial integrity. Victoria and Rob share an audio clip from an earlier podcast of Joe Thompson speaking about George Holmes.State of the IndustryVictoria discusses a Jewelers Board of Trade webinar with its president, Erich Jacobs. He showed graphs on consumer sentiment, confidence, unemployment rates, and more. Erich says unemployment is linked to consumer satisfaction—if unemployment is low, generally consumer confidence is high. Now, we’re seeing a break from this. We have record low unemployment and low consumer confidence. Victoria says retailers may feel a little pinch in their bottom line, as consumers aren’t using credit cards as much.LVMH and Lab-Grown DiamondsRob comments on the lab-grown space and LVMH Luxury Holdings' investment in Lusix, an Israeli lab-grown diamond company. LVMH is not being shy about its investment—but this investment raises questions. Rob believes LVMH wants Lusix to scale with more persistent production. Victoria asks if the luxury sector is finally ready to accept lab-grown diamonds, and Rob isn’t sure.Russian DiamondsVictoria asks what’s happening in the world of Russian diamonds, and Rob says there are rumors in the industry about banks in Europe not wanting to fund Russian diamond shipments. Rob says the big companies have figured out a way to get diamonds back on the market after a slow run for Russian diamonds. On the flip side, Victoria has spoken to many Ukrainian jewelers, and her takeaway was their commitment to improving the industry and getting attention for Ukrainian jewelers in the market.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates share their post–JCK show takeaways and the interviews they conducted live on the JCK show floor.Show Notes00:30 Rob and Victoria share their takeaways from the JCK show09:30 Victoria interviews Jewelers Mutual Group’s chief content executive, Mark Smelzer11:00 Victoria interviews Stuller CEO Matt Stuller13:40 Rob interviews Craig Underwood of Underwoods Fine Jewelers17:00 Rob interviews Feriel Zerouki of De Beers20:18 Rob interviews Steve Coe, CEO of Lightbox Jewelry25:40 Victoria interviews Yuliya Kusher, CEO of Meylor Global29:26 Victoria interviews Manos Phoundoulakis of EZEC31:23 Rob interviews Jeff Corey, former owner of Day’s Jewelers, now currently the vice president of marketingEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapJCK Show TakeawaysVictoria and Rob comment on how amazing the JCK show was this year. Rob says the mood and attendance were really strong and how the jewelry industry has been on a high the past two years. Some people even told Rob it was their best show ever. Others came to the show for the first time—a great reminder of why we have in-person shows. There was some awareness of inflation at the show. Victoria also mentions orange emerging as a hot color in jewelry.Mark SmelzerVictoria interviews Jewelers Mutual Group’s chief content executive, Mark Smelzer. Mark used to be the publisher of JCK, and Victoria asks what it's like to be on the other side of the JCK show experience. Mark comments on the overall energy at the show, and that it’s great to see sales happening at every booth.Matt StullerMatt Stuller, CEO of Stuller, is excited to be at the show. Victoria comments on how busy the Stuller booth is. Victoria asks about its innovations this year. Victoria loves its permanent bracelet stand. Victoria asks how business has been so far this year, and Matt says business has been very strong. Everyone is cautiously optimistic.Craig UnderwoodRob mentions how Craig Underwood of Underwoods Fine Jewelers has just won the Robert M. Shipley Award, and Craig says they’re still on the high from receiving that award. Rob asks what they’re seeing at the show so far, and Craig says he’s loving the energy. Rob asks if Craig thinks this is going to be a great holiday, and Craig says yes—he’s cautiously optimistic.Feriel ZeroukiFeriel Zerouki, who won the Diamonds Do Good Next Gen Award at the show, is the senior vice president of corporate affairs for De Beers. Rob asks about Feriel’s involvement with the Responsible Jewellery Council, and Feriel says despite some problems recently, there’s also been great progress. Rob asks about the JCK show, and Feriel says it’s going well.Steve CoeRob asks Steve Coe, the CEO of Lightbox Jewelry, how things have progressed with Lightbox, which created shock waves in the industry when it first released its lab-grown jewelry line. Steve says 25% of their buyers are repeat customers. Rob notes how Lightbox expects to be using 100% renewable energy by the end of 2022, and Steve says it is making great progress on that. Steve says Lightbox is looking to other carat sizes and other colored diamonds besides pink and blue.Yuliya KusherVictoria interviews Yuliya Kusher, CEO of Meylor Global, the Ukrainian diamond company making lab-grown diamonds. She shows Victoria the largest uncut lab-grown diamond in the world, 150 carats. Victoria asks how the war is impacting their business, but Yuliya says they can’t really predict what will happen day to day.Manos PhoundoulakisVictoria interviews her good friend Manos Phoundoulakis about his new company EZEC, which he started with Andrew DeMarco. EZEC stands for Easy Emergency Contact. They claim to be saving lives and streamlining health care through jewelry. Its technological advancements help first responders with an easier way for people to wear medical ID bracelets.Jeff CoreyJeff Corey, vice president of marketing at Day's Jewelers, has been to 30 JCK shows. He was at the original and has been to every show since. He says it’s exciting to be here and doing business. He’s shopping around, looking at technology, and trying to see what’s new and exciting in jewelry. Last year, Day's Jewelers became employee-owned, so they share the profits of the company. Rob ask how business has been this year, and Jeff says it’s been excellent.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss Steven Kaiser’s passing, the Oak collection watch event at London’s Design Museum, De Beers' blockchain platform, recycled gold, and the JCK Las Vegas show.Show Notes00:30 Victoria and Rob give their condolences to the family of Steven Kaiser.05:25 Victoria recounts her visit to London’s Design Museum to see the Oak collection.13:40 Rob explains De Beers' blockchain technology.16:22 Rob is concerned with recycled gold and what the term actually means.21:09 Victoria and Rob are excited for JCK Las Vegas!Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapSteven KaiserVictoria and Rob give their condolences to the family of Steven Kaiser. The industry titan passed away a week before recording this podcast. He was feted at 24 Karat Weekend in March. He was a "connecter" and, as Rob reports, very good at smoothing things over. The jewelry industry mourns his passing, and he will be deeply missed at JCK Las Vegas this week.The Oak CollectionVictoria was one of 65 journalists invited to London in late May to attend an event at the Design Museum. There, she saw the Oak (one-of-a-kind) collection. The Oak's owner, Patrick Getreide, has been collecting watches for 40 years. He has more than 600 of them (heavy on Patek Phillipe and Rolex), and 130 of them were on display for just one week. Victoria said the event felt like the gilded age of watches. Rob briefly mentions the Apple Watch and its effect on the watch industry.De Beers' BlockchainRob talks about De Beers and its blockchain technology. Basically, Rob says, it’s a way to track diamonds through the chain in a trade-facing, rather than consumer-facing, manner. De Beers says it can trace all of its diamonds of 1 carat and above and believes it can scale this technology. Rob says this technology has been a long time coming, and De Beers has the most ambitious technology out of everyone trying their hand at it.What Is Recycled Gold?Rob recently wrote a story on recycled gold, and Victoria asks what prompted him to write it. Rob says he was recently part of a webinar about recycled gold, and it made him consider what recycled gold really is. As it turns out, there are many definitions if recycled gold—including the one the Federal Trade Commission uses: something that would otherwise go in the trash. The problem is, gold isn’t thrown out. Rob talks about why labeling anything as recycled gold is a problem and why the industry should start being clearer on what recycled gold really is.JCK Las VegasVictoria and Rob’s schedules are packed for JCK Las Vegas. All of the events are back on, there’s tons of excitement, and Victoria is hoping for some good weather (not too hot!). From what Victoria understands, there is a great need to restock, which will make for a great show. JCK will be giving talks from the JCK stage and various educational classrooms. Victoria and Rob both look forward to meeting everyone there and give a little review of what to expect. Rob will also be signing copies of his novels!

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Sarin Bachmann, group vice president of RX Jewelry Group at Reed Exhibitions. They'll be discussing JCK Las Vegas 2022 and all that you can expect at the 30th anniversary of the show, which runs June 10–13.Show Notes00:30 Victoria and Rob welcome their guest Sarin Bachmann, group vice president of RX Group at Reed Exhibitions.5:33 Sarin explains the layout of this year's show.10:35 Rob asks about the education and entertainment lineup at the show.16:32 Rob asks Sarin what she does to get ready for the show.23:55 Sarin gives hot tips for your time at the show.Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapIntroducing Sarin BachmannVictoria and Rob welcome their guest Sarin Bachmann, group vice president of Reed Jewelry Group. She’s here to talk about the JCK show. The Luxury show opens June 8, and JCK Las Vegas kicks off on June 10. Sarin then tells how she got into the jewelry industry. She started off by working as a consultant, and one of her clients was Reed Exhibitions. She ended up leaving to work for Reed. She loves the jewelry industry, and knew she eventually wanted to run the jewelry shows. She particularly loves the passion in this industry.The JCK Show LayoutVictoria briefly asks about Yancy Weinrich, Sarin's predecessor as head of the Reed Jewelry Group. Yancy recently left RX, and now is a president of another trade show company. Sarin then pivots to talking about this year’s show. She says the layout is going to be similar to how things were in 2019 (i.e., having Luxury back on level 2). Sarin is excited for international visitors to be back at the show. New this year will be a pavilion called The Shops for gifts for retailers to fill out their stores. JCK swag will be available there as well.Education and EntertainmentRob asks about the education and entertainment lineup, and Sarin gives the full rundown, including sessions on sustainability, trends, digital marketing, NFTs, and much more. All programs will be back, including a visit from the cast of the musical Hamilton in a private performance with an after-party to follow. Victoria asks what Sarin is looking most forward to, and she says she’s looking forward to all the photo and video opportunities on the floor. She’s also looking forward to the show’s 30th-anniversary celebration happening on Saturday.Getting Ready for the ShowRob asks what Sarin does to get ready for the show—Sarin says packing! She’s out there for 10 or 11 nights, and the act of packing gets her excited for the show. Sarin says she’s not nervous, but there’s always some anxiety leading up to the show, especially for her own speech. She also says she never gets tired in Vegas, she’s always excited and ready to go to the show. Victoria plugs the newest issue of JCK, which includes a guide to new Vegas attractions. Victoria and Sarin both mention where they think you can get the best lunch in town.Hot TipsRob asks Sarin what her average JCK show day is like. Sarin says she saves checking out jewelry for the last day. Rob asks what she'd advise to those on the fence about coming to the JCK show, and Sarin says if you’re on the fence, you’re going to miss out. She also recommends preregistering for events. This year's show will be a celebration of JCK and of the industry coming together for 30 years.(Photo courtesy of Sarin Bachmann)

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk about Watches and Wonders Geneva, the AGS Conclave, and Russian diamonds.Show Notes00:30 Victoria recaps her experience as a guest of Breitling ahead of Watches and Wonders.11:00 Victoria fills us in on her experience at Watches and Wonders.17:09 Rob was at the AGS Conclave and tells us how that went.21:49 Victoria and Rob express excitement for JCK Las Vegas; Rob talks about Russian diamonds.Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapBreitling MarketingVictoria went to Watches and Wonders Geneva, where she was a guest of Breitling. Known for its aviation watches, the company invited journalists and watch experts to Zurich ahead of Watches and Wonders to celebrate the 70th anniversary of its Navitimer, introduced in 1952. George Kern, CEO of Breitling, came down to give a speech and boarded the same plane as Victoria, and everyone flew to Geneva. On the plane, all of the new watches were passed around.Watches and WondersVictoria says Watches and Wonders was a good show with a lot of excitement and optimism. She also noticed a lot of travel-themed watches. Rob asks if there was a lot of talk about smartwatches, and Victoria says no. She believes that smartwatches may have ignited a larger interest in watches in general even when they’re not present themselves. She also mentions a new mechanical watch she picked up at the show, and one brand, TAG Heuer, that’s using lab-grown diamonds in its watches.AGS ConclaveRob was just at the AGS Conclave in Oklahoma City. Victoria asks if lab-grown was a big theme there, and Rob says it was a theme, but not a major one. A lot of the discussion around lab-grown diamonds was about making sure you’re not accidentally buying a lab-grown when you believe you’re buying natural. A big topic at AGS was Russian diamonds and the reputational issues around buying and selling them. Rob says the mood at AGS was a good, and this event was one of its most highly attended Conclaves. There were sessions on sustainability and the verbiage around sustainability as well as origin and tracing.Russian DiamondsVictoria mentions anticipation for JCK Las Vegas. Rob and Victoria are both looking forward to the event and want to meet with people in person rather than virtually. To end the podcast, Victoria asks Rob about Russian diamonds. The U.S. sanctions have been a big hit to Alrosa, which is one- third owned by the Russian government. There aren’t many newly mined diamonds on the market. A lot of people are paying attention to traceability and sourcing.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Ziad Ahmed, CEO of JUV Consulting, a New York City–based firm that advises companies on how to market to Gen Z.Show Notes00:30 Victoria and Rob introduce their guest Ziad Ahmed, CEO of JUV Consulting06:02 Rob asks what characteristics define Gen Z14:30 Victoria asks about non-digital experiences and purpose-led brands, while Rob asks about how Gen Zers feel about marketing18:45 Rob asks how Gen Z views the luxury category21:27 Victoria asks how Gen Zers are now buying jewelryEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazine, JUV ConsultingShow RecapIntroducing Ziad AhmedVictoria and Rob introduce their guest Ziad Ahmed, CEO of JUV Consulting, a New York City–based firm that advises companies on how to market to Gen Z. Gen Z is defined as people who were born between 1997 and 2012. Ziad was born and raised in Princeton, N.J., in an American-Muslim household. In eighth grade, he started a nonprofit, a by-teens, for-teens organization that make community and schools more operative and inclusive. In high school, he started JUV Consulting, as he believed diverse young people should have a seat at the table.What Makes Gen-Z Rob asks what Ziad relies on for the information he’s tapped into on Gen Z, and Ziad reports that it’s a mix of survey data, in-depth research, and more. Victoria asks what kind of clients JUV works with, and Ziad says it ranges from Fortune 500s to startups to local campaigns to nonprofits. Ziad shares some of the clients that he’s been proud to work with. Rob asks the key characteristics that define Gen Z, and Ziad says Gen Z has grown up in the digital age, with social media as a language that they’re fluent in that allows them to find community. Victoria asks which platforms are essential, and Ziad thinks TikTok is the platform of the moment where celebrities are made overnight.Gen Z and Digital Experiences, Sustainability, and MarketingVictoria is interested in Ziad’s non-digital experiences, and Ziad explains how non-digital and digital experiences are blended. She then asks how Gen Z views the marketplace and how they want to shop, and if purpose-led brands are important to Gen Zers. Ziad says the American market has the capital to spend a little extra on purpose-led brands. Ziad believes we will continue to raise the bar on what sustainability looks like. Rob asks what turns Gen Zers off or what comes across as tone-deaf, and Ziad says that most marketing is cringe-inducing, and that’s why JUV consulting exists.How Gen Z Views LuxuryRob asks about luxury and how Ziad’s generation tends to look at luxury, and Ziad says luxury is in for a rude awakening as a lot of it is antithetical to Gen Z’s values. There are issues around inclusivity, income inequality, and gluttony and excess that are being scrutinized by this generation. Gen Z is concerned with what companies are paying their employees, how stable the supply chain is, and what kind of craftsmanship went into the making of the piece. Gen Z, Ziad says, is concerned with its image, and, like a brand, is trying to create who they are and show what they represent through their purchasing habits.How Gen Z Buys JewelryVictoria asks where Gen Z’s very deliberate purchasing habits leave them in terms of buying jewelry, and Ziad says Gen Z is very much interested in jewelry as a means of gender expression, but many are buying their jewelry secondhand from thrift stores. However, Ziad says there is still interest in new jewelry. Rob asks about traditional ceremonies that call for jewelry, such as weddings, and if Gen Z will still be buying jewelry for that purpose. Ziad says yes, but he explains how it might look different from generations past.(Photo courtesy of Ziad Ahmed)

In This EpisodeWe’ve collected the origin stories of some past guests—including that of host and news director Rob Bates—so you can hear the different ways in which people got their start in the industry. You'll hear from Alexander Lacik, Sean Kell, Alexis Padis, Gina Drosos, and Alan Revere.Show Notes00:30 Introducing this week’s podcast02:57 Alexander Lacik, CEO of Pandora06:14 Sean Kell, CEO of Blue Nile09:48 Alexis Padis, president of Padis Jewelry 13:50 Gina Drosos, CEO of Signet Jewelers17:44 Alan Revere, founder of the Revere Academy of Jewelry Arts22:40 Rob Bates, news director of JCKEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazine, Pandora Group, Blue Nile, Padis Jewelers, Signet Jewelers, Alan Revere, Rob Bates Author Show RecapAlexander LacikBefore becoming CEO of Pandora, Alexander worked with a range of brands including Pringles, Vicks, Always, Olay, Pantene, Lysol, Woolite, Head & Shoulders, and more. After moving back to Sweden with his kids, he ended up working with Britax for a while before Pandora knocked on his door. He was excited to work with Pandora because it was a big Scandinavian international brand. Rob asks what the commonalities are between these successful brands.Sean KellSean Kell, CEO of Blue Nile, came from a family who loved jewelry. He started as an engineer, then went into sales before going to business school to study marketing. He also worked at Starbucks, Expedia, and A Place for Mom before finally ending up in the jewelry industry. What attracted him to the industry in the first place: its size, and how it’s difficult for consumers to figure it out—he wants to change the industry to be a little more convenient for shoppers. Blue Nile originally operated solely on the web, but it has since opened brick-and-mortar stores to meet customers where they want to be met.Alexis PadisAlexis Padis is president of Padis Jewelry in San Francisco. She’s one of four kids, and she’s the only one who ended up joining the family business after spending time in an entirely different industry. She tells the story of how after selling an engagement ring to one couple she decided to make the industry here career. She also explains how her parents got into the industry. Her dad dropped out of medical school to become a jeweler, and met his Alexis’ mom in the industry.Gina DrososGina Drosos, CEO of Signet Jewelers, says she’s always wanted to work in an industry where she feels as though the product makes a difference in people’s lives. She also explains how she likes “transformation opportunities,” and what she means by that phrase. She then talks about her experiences working at other companies before she landed at Signet. One of those experiences she's particularly proud of is her time at Olay. Rob asks if Gina had an affinity for jewelry growing up, and she says she would always play in her mother’s jewelry box. While her mother didn’t have a large collection, all of her pieces were meaningful. On Gina’s 18th birthday, her parents bought her her very first piece of fine jewelry, a diamond cocktail ring from Friedman’s.Alan RevereAlan Revere—the past president of the American Jewelry Design Council, founder of the Contemporary Design Group, and founder of the Revere Academy of Jewelry Arts in San Francisco—tells us he dropped a potential career in law for the arts in the 1970s. He got a job as a bench jeweler in Oakland, Calif. It was there that he learned how to do repairs, resize rings, fulfill custom orders, and the like. At the California College of the Arts, Alan taught a small class—which eventually led to him teaching from his studio, and then his home. In 1979, he established the Revere Academy of Jewelry Arts.Rob BatesRob’s grandfather was a diamond dealer. When Rob got out of college and started looking for a writing job, he saw an ad for Martin Rapaport's diamond industry newsletter, which he originally wasn’t sure about taking—but did. He ended up working for National Jeweler. It’s now been 24 years that he's been working for JCK. He even met his wife in the jewelry industry. One thing Rob says he likes about the industry is that you’re always learning.(Photos courtesy of Alexander Lacik, Sean Kell, Alexis Padis, Gina Drosos, Alan Revere, and Rob Bates)

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Beth Gerstein, cofounder and CEO of Brilliant Earth.Show Notes00:30 Victoria and Rob introduce their guest Beth Gerstein, cofounder and CEO of Brilliant Earth08:30 Beth explains the importance of sustainability to the consumer14:11 Brilliant Earth offers both lab-grown and natural diamonds—Beth explains the difference19:10 Beth talks about Brilliant Earth’s Fairmined collection23:16 Rob and Victoria wrap up the podcast with discussion of international plans, marketing to Gen Z versus millennials, Russian diamonds, and brick-and-mortar stores and online salesEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: brilliantearth.com, jckonline.com, @jckmagazineShow RecapIntroducing Beth GersteinVictoria and Rob introduce their guest Beth Gerstein, cofounder and CEO of Brilliant Earth in San Francisco. Victoria mentions that Brilliant Earth is really leading the charge on sustainability and ethical sourcing. As always, the JCK editors dive into Beth’s background and how she got into the jewelry industry. Beth grew up in Maryland, and both of her parents worked in government. She studied biomedical engineering and did work launching satellites, but Beth eventually realized her heart was in business and switched industries entirely.The Importance of SustainabilityBeth explains how she developed Brilliant Earth on a set of values revolving around sustainability and ethical sourcing. With diamonds being such an emotional purchase, she believed people would want to know about the sourcing of their stones. She says Brilliant Earth's customers don’t want to compromise on quality, design, or experience—but transparency is extremely important. The company recently released its sustainability report, and she wants the industry to continue to do this difficult work. Beth also confirms that it’s been six months since Brilliant Earth went public. She says it helps them to set clear objectives and have financial discipline.Lab-Grown DiamondsVictoria and Rob have questions for Beth about lab-grown versus mined diamonds, and Beth says that there’s space for both—it opens the market more. Brilliant Earth started offering lab-grown 10 years ago and sees continued success with their sale. As a retailer, she says it's Brilliant Earth's responsibility to be open about its sources for both conflict-free and lab-grown diamonds. Beth says typically the younger shopper tends to gravitate more toward lab-grown diamonds. Victoria asks about a lack of transparency when it comes to lab-grown diamond sourcing.Brilliant Earth’s Fairmined CollectionVictoria asks Beth about Brilliant Earth's new Fairmined gold collection, and Beth says she developed the collection with its customers in mind. She’s happy to be able to support artisanal and small-scale miners who are getting a fair price for their gold. She believes Fairmined gold will only grow in popularity. Victoria also asks if Beth goes to shows like JCK—and Beth has met many great suppliers since the first show. Rob asks what the most important thing about building a brand is, and Beth says it’s building a connection to the customers.International Plans, Gen Z Versus Millennials, and Russian DiamondsRob asks Beth if Brilliant Earth plans to make a push internationally at some point, and she says yes. It's already shipping to more than 50 countries. Victoria asks about Gen Z and how they differ from millennials. Gen Z is social first, and Beth says it’s important to talk to customers where they are. She also says she values authenticity, inclusivity, and expects sustainability. Brilliant Earth has also recently removed Russian diamonds from their site.(Photo courtesy of Beth Gerstein)

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk about the industry-related effects of the Russian invasion of Ukraine and some news from the American Gem Trade Association.

Victoria Gomelsky and Rob Bates talk with Holly Wesche, owner of Wesche Jewelers.

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk about the Tucson gem shows, Kering's sale of two watch brands, small diamonds, and Rob’s new book.