PEARLS, FIT FOR A NEW GENERATION Jewelry using colored pearls or pearls with unique shapes or designs London is becoming increasingly popular with consumers today, who are looking for a new way to wear their pearls. New York--These days, pearls are no longer just for your grandmother’s strand. As designers and brands begin to incorporate the gemstones into new designs and focus on a higher quality, pearls are picking up steam with consumers of all ages who are finding their way back to the stones and discovering new ways to wear them. “The American market is really starting to wake up,” said Michael Hakimian, CEO of pearl jewelry brand Yoko London. “It’s rapidly becoming our best market.” Pearl dealers are also attributing part of the recent boom to the celebrity factor, with actress Sarah Jessica Parker and The Duchess of Cambridge Kate Middleton, plus singer Katy Perry and actress Angelina Jolie, seen wearing pearls recently. Middleton, who has a strong influence on the fashion world, especially is known for her ability to create classic and modern looks, giving consumers ideas on how to incorporate pearl jewelry into their outfits today. Jewelers say, “People are looking for ways to incorporate something elegant and classic into their wardrobe, so we do see it as a blossoming trend.” They note that the popularity of natural saltwater pearls especially has grown over the past three years, adding that the interest comes as a reflection of the economy. “People these days are investing in fine art, which could be a piece of fine jewelry even, including at the high end of pearls.” The battle of supply versus demand As the recent recession went into full swing, many pearl suppliers pulled back, decreasing production to accommodate the changing economic tide. At the same time, demand was starting its rise. Though prices for pearls have been relatively consistent over the past few years, they are slowly trending upward will continue to increase as demand picks up. Even as there are fewer low-quality goods entering the market, many note that there also is a smaller supply of higher-quality pearls due to those aforementioned smaller production numbers. Mikimoto America COO Meyer Hoffman said they’re seeing a shortage in high-quality pearls when it comes to Akoya and South Sea varieties, as well as a greater limit to available sizes. The traditional players of the pearling industry continue to supply the market, including China, Australia, Indonesia and Tahiti. Color, unique shapes pick up the pace As American consumers are finding their way back to pearl jewelry and younger crowds are trying to find new ways to wear pearls in their everyday lives, certain shapes and designs are leading the surge. “We’re in an age where people want something more individualistic looking,” Shor said, adding that though round shapes “remains king” in the pearl market, baroque pearls and even ribbed pearls are gaining in popularity. Colored pearls also gaining popularity among consumers, from mauve to black and peach as well as all the hues in between. They can be found in cocktail rings, as stud earrings, or in the ever-popular long strand necklaces but with a gradient color pattern, a modern twist. “American consumers are responding well to colored pearls,” pearl dealers say. “They’re not looking to buy the same thing as everyone else.” “The rarer and the more expensive it is, the easier it is to sell. That top 1 percent has a lot of discretionary income and is looking for something rare and unique to spend it on.” Building for the future Pearls are specially positioned in the industry in that they, unlike the majority of resources used to create jewelry, have the ability to be re-generated. Because of the cultured pearl industry’s ability to initiate new growth, sustainability has long been a part of the business. The environmental part is important not only for obvious reasons that involve caring for the earth and the resources used but also has a direct line to consumers. Today’s buyers, especially those who are members of the Millennial generation, increasingly are concerned with knowing the origin of the products they buy and the footprint of the companies from which they are buying. Making sustainability an important part of the industry would help consumers understand that when they buy pearl jewelry, they are supporting businesses that care for the planet’s long-term health rather than exploit its resources. That’s why it’s good that so many conversations and research and development projects are popping up to figure out the best way to care and treat the pearls. “In its simplest form, sustainability really means taking the best care of the environment,” Shor said. “And since pearling is directly related to the health of the environment around (the pearls), the ecosystem could collapse if they’re not taken care of.”
Posted on: Fri, 25 Jul 2014 21:17:09 +0000
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