Citing stable production and robust market demand, Paspaley Executive Director Peter Bracher remains optimistic about the future of Paspaley’s highly coveted Australian pearls.

Show Daily: How was business for Paspaley in 2024?

Peter Bracher: The increase in demand and prices in 2023 was unprecedented in my 25-year career. After such a strong run, we were not surprised that prices for some categories declined in the first quarter of 2024. However, demand for all categories remained strong and from March 2024 onwards, prices stabilised and then gradually increased over the course of the year. This stability continued through the first quarter of 2025 despite concerns about tariffs and talks of a trade war. Overall, business has been good from 2024 onward.

Show Daily: How about your wholesale business in the US?

Bracher: Paspaley has been distributing wholesale pearls in the US for around 40 years. In early 2024, we began distributing our Paspaley branded jewellery through wholesale retailers. Currently, we have four partners across five doors carrying some of our signature collections. Our Lavalier Collection has been particularly well received. It was always our plan to take things slowly in the US and be selective with our retail partners. We want to ensure that the relationship is a good fit for both parties and that we maintain the service and quality levels we are known for in Australia.

Show Daily: Given heightened uncertainties, what is your outlook for the year?

Bracher: Production is stable, and demand remains high. From all accounts, the auctions held in Hong Kong in March all performed better than expected, which is encouraging considering the uncertainty around international trade at that time. There are still concerns about the impacts the tariffs will have on the world economy but, at this stage, I remain hopeful that market stability will continue.

Show Daily: What can we expect from Paspaley moving forward?

Bracher: We will open our first flagship store in Adelaide and a new store in Melbourne during 2025. Our Perth flagship store is currently under construction and will open in the first half of 2026. We are also planning a complete refurbishment of our Sydney flagship store commencing in early 2026 with completion around mid-year.