This article first appeared in the JNA September/ October 2022 issue.

The jewellery industry has once again proven its resilient nature amid global health and economic challenges. These, alongside other trade developments, have influenced changes in consumer behaviours and buying patterns and preferences, signalling fresh growth opportunities for innovative jewellers, said Ioannis Alexandris, founder and CEO of Gemolithos.

Alexandris, a renowned antique and vintage jewellery specialist, sees bright prospects from the market’s growing interest in jewellery pieces from the Art Nouveau and Belle Époque eras. Prices of such jewellery pieces are on the rise, thanks to their scarcity, unique craftsmanship and unparalleled quality.

For instance, Art Nouveau jewellery from celebrated maisons like Lalique, Fouquet, Tiffany, Gaillard and Gautrait, to name a few, is becoming as rare as highly sought-after paintings.

“A Lalique ring, which cost around US$15,000 about 20 years ago, can now command a price as high as US$100,000 or more,” revealed Alexandris.

There is also renewed affinity for 1980s-inspired jewellery, which are revered for their bold and colourful designs and wearability. Despite its grandiose and dramatic appearance, jewellery from the 1980s retains its distinct sense of sophistication as demonstrated by pearls interspersed with yellow gold, which were the dominant designs of the decade, noted Alexandris.

Jewellery culture

With the rise of social media and other digital platforms, information has become easily and readily accessible to today’s consumers. This phenomenon is benefiting jewellery companies that wish to introduce a younger generation of buyers to the exquisite world of fine and antique jewellery. Alexandris explained, “We have immense access to data, pictures and other vital information nowadays. This is crucial to educating younger buyers and widening their view and appreciation of jewellery and gemstones in general as well as jewellery art, history and manufacturing.”

Sparkling future

Business remains strong in the major markets of the US, Europe and Asia but opportunities abound in emerging jewellery hubs such as Dubai, according to Alexandris. The company is planning to join jewellery trade exhibits in Dubai to familiarise itself with this market.

Gemolithos currently has a presence in London, Germany, Malaysia, Hong Kong and China and recently opened a sales office in Switzerland to serve its VIP customers. Also in the offing is a new, one-of-a-kind jewellery line, which alongside its expansive collection of antique and period jewellery, will further broaden its product offerings to its clients.

The company earlier expanded its product portfolio to offer natural fancy colour diamonds, gaining further acclaim in the fine jewellery space.

Amid continued macroeconomic and geopolitical headwinds, Alexandris is banking on the enduring allure of fine jewellery coupled with jewellers’ pliant nature to boost consumer demand. “We must be flexible and learn to adapt to market-moving changes and evolving buyer preferences,” he noted. “People buy jewellery because it makes them happy. Nowadays, jewellery has become more meaningful. We should capitalise on this and help wearers express themselves through jewellery.”