PEARL REPORT 2021

PEARL REPORT | 10 | 2021-2022 COVER STORY Beauty in rarity Branellec explained that while lower survival rates of oysters did not compromise 2020 and 2021 production, the impact will be felt during the 2022 and 2023 harvests. “It is reasonable to foresee that total production volume of pearls and the average size of each harvested pearl will be reduced in the coming years. Overall, the natural phenomenon of the golden South Sea pearl will only become rarer as the years go by,” he remarked. Taking into consideration changes and uncertainties brought about by Covid-19, he said the company made a conscious effort to collect and hold on to its highest-quality pearls to be sold only when demand recovers. Prices for exceptional pearls have since bounced back however, even surpassing pre-pandemic levels. Recovery in the wholesale business was likewise notable, revealed the company official. With steady demand, strong prices, and continued fascination for premium pearls, Jewelmer remains optimistic about the future. Sustainability and the new consumer Jewelmer sees golden opportunities in new consumer trends such as clients’ flourishing penchant for sustainable practices and environmental protection without compromising their aesthetic preferences. People are also becoming more mindful and reflective, with a newfound desire to understand brands’ origins, resulting in more meaningful and personal purchases. Known for jewellery collections that push the boundaries of design, the pearl expert also finds favour among a younger generation of buyers. “Pearls are attracting younger individuals due to the wearability and versatility of Jewelmer’s designs,” shared Branellec. “Buyers of a younger demographic are looking to find something that is sustainable and coincides with generational values.” Even style-conscious men have started donning pearl jewellery, he added. Jewelmer’s exceptional pieces are likewise performing well, thanks to traditional collectors. Over the last two years, the brand has seen increased demand for rare, luxury goods, particularly from China, where interest in Philippine South Sea pearls is on the rise. Going forward, China and the US are expected to be the main drivers of growth, with Jewelmer eyeing to increase its presence in China to truly engage with local consumers. Also at the heart of its operations are initiatives to benefit the Filipino community. Recently, Jewelmer donated a portion of its sales to the PGH (Philippine General Hospital) Foundation to help rebuild the institute’s Neonatal Intensive Care Unit and sterilising area. “The maison is committed to preserving the legacy of the brand with a strong Filipino heritage. Through bringing treasures of the Philippines to the international stage and by inspiring the younger generation about what is possible when man works together with nature, Jewelmer hopes to contribute to nation building,” noted Branellec. La Mer en Majesté earrings, Les Classiques strand necklace and Bollicine ring and bracelet embellished with golden South Sea pearls 鑲以金色南海珍珠的 La Mer en Majesté 耳環、 Les Classiques 項鏈、 Bollicine 戒指及手鏈