The final day in Positive Luxury’s series of panel talks for Positive Week focused on luxury jewellery and how innovations within the industry can meet the needs of the consumer while bettering their positive impact for the future. On the panel, moderated by Stephen Armstrong of The Sunday Times, were Costantino Papadimitriou, Vice President of Strategy & Innovation for Forevermark at De Beers, Cred Jewellery director Alan Frampton and Tobias Kormind, who co-founded 77 Diamonds.
Costantino Papadimitriou opened the debate with an explanation of how Forevermark awards a mark to diamonds that meet stringent criteria. Each diamond is inscribed with the mark and has full traceability. Cred Jewellery is also trying to achieve a similar level of tracebility within the metal industry, pioneering a fully traceable supply chain which needs to become the norm. “Do you know where the gold in your wedding ring came from?” Alan Frampton asked the audience. “Consumers are more aware and should be asking these questions.”
The jewellery industry is showing similar patterns to the food industry as 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 and quality. “The consumer has expectations and is 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,” he said.
Tobias Kormind spoke about how the online community can educate the consumer and also how online transactions can build engagement and trust with the consumer. He added: “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.”
Positive Week, which is organised by Positive Luxury and sponsored by Mishcon and The House of St Barnabas, is driven by a simple aim: to bring together luxury brands making efforts towards minimising their environmental footprint while maximising their social impact, and to facilitate a discussion to share their positive stories.