PEARL REPORT 2022-2023

MARKET INTELLIGENCE PEARL REPORT | 40 | 2022-2023 JPEA will also tap into mature pearl markets such as the US and Europe moving forward by boosting online marketing and sales opportunities. Creating new demand Japan has a strong affinity with pearls. Traditionally, pearls are worn in ceremonies and given as gifts during special occasions like when a woman turns 20 years old or a couple’s 30th wedding anniversary. Domestic demand for pearls however has reached its peak, said Tetsuya Fujita, chairman of the Japan Pearl Promotion Society (JPPS). “The challenge for the industry is to invigorate the market and develop new demand,” he noted. “Considering the growth potential of the Japanese pearl industry, it is necessary to consider which fields will drive growth in the future as consumption trends change.” While ceremonies and special occasions will remain a crucial component of the pearl business, companies should look at other potential markets to tap, including a younger generation of buyers with new values. Fujita also underscored the role of JPPS in driving the industry to work on product development, with emphasis on the pearl as an important fine jewellery element. There is also a need to sustain high quality, which Japanese pearls are renowned for. Another important aspect of the pearl trade is continuity and motivating successors in the aquaculture industry. This can be achieved by stabilisingmanagement of farming businesses as well as knowledge and expertise sharing. “JPPS is supporting efforts to develop human resources – the next generation of Japanese pearlers – with financial support from the government,” shared Fujita. 2022 and onwards Japan’s pearl sector also benefits from government support. The Japanese Ministry of Agriculture, Forestry and Fisheries has identified 27 priority items, pearls included, tobeplacedunder anexpanded list of agriculture, forestry and fisheries products and processed products. A consortium formed by JPPS and the Pearl Industry Cooperation Strengthening Council is registered as an item group, which can propose export expansion initiatives and request financial support. “Our mission is to further enhance the Japanese pearl brand by building reliable business channels and ensuring stable supply of high-quality products,” remarked Fujita. In 2021, JPPS released the report, Pearl Standard 2020, which discusses the history and quality standards of Japanese Akoya pearl farms. Fujita said he is aiming to work with stakeholders in the international jewellery industry on the possibility of sharing information with Japanese pearl farmers on how to better promote their products globally. JPPS is also proposing to create and develop international pearl trading platforms for pearl businesses around the world. Design evolution Over the years, pearl jewellery designers have consistently challenged norms by creating trendy, ultraunique collections that showcase the pearl’s versatility. A recent example is the Pearl Pointe Shoe made entirely of Japanese Akoya pearls. Tokyo Pearl Co Ltd selected the pearls themselves and worked with Jewels Co Ltd to make the shoe. Tota Koyama, chairman and CEO of Tokyo Pearl Co Ltd, explained that his company has been doing research on items that can be combined with pearls. The original idea was to merge pearls with items using traditional manufacturing techniques. Koyama said, in the end, he was drawn to ballet. “Ballet is culture personified. Considering its history and resonance around the world, I became convinced that we need to incorporate ballet into this new and innovative project hence, the making of the Pearl Pointe Shoe,” revealed Koyama. The shoe commemorates the 100th anniversary of famous ballerina Anna Pavlova performing the masterpiece dance, The Dying Swan, for the first time in Japan. This pearl pointe shoe was created to fit the foot of world-famous ballerina Shoko Nakamura. As a symbolic item, the pearl shoe has become quite popular, with people regularly enquiring about the price. Koyama said he initially priced it for 10 million yen (around US$73,000) as reference. “I do not think it is expensive, considering the extremely delicate and difficult-to-make three-dimensional assembly of pearls, the quality of the pearls and the overall ingenious idea behind it,” noted Koyama. “Due to its peculiarity, the Pearl Pointe Shoe cannot be mass-produced, making it a one-of-a-kind creation. However, we are open to requests, but we will need a year to make the shoe.”

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