MJSA Podcast

The global shutdown resulting from the COVID-19 crisis is unprecedented, and it's changing the jewelry industry on many levels. Companies of all sizes are facing serious economic disruptions, as business owners struggle to navigate through the uncertainty. In this episode of the MJSA podcast, Erich Jacobs, President of the Jeweler's Board of Trade (JBT), shares his analysis of how the crisis is impacting credit, supply chains, and e-commerce, and if the current data are beginning paint a clearer picture of a future recovery.

Despite recent efforts by the jewelry industry to address transparency and tracing issues across the global supply chain, the conditions under which colored gemstones are sourced remain highly opaque and lack reliable independent verification.

In this episode, Daniel Nyfeler, Managing Director of Gübelin Gem Lab, discusses his company's Provenance Proof initiative, aimed at developing new technologies to increase traceability and verify the origin and authenticity of colored gemstones. He also shares how these technologies have been received by various industry segments, as well as the challenges and opportunities presented by increased transparency.

Our guest on this episode is Dan Pharr, president of Pharr Valuation in Richmond, Virginia. With 30 years of jewelry industry experience, Dan specializes in business valuations of closely held and family owned businesses.

In this interview, Dan discusses the best practices for business owners who want to exit their companies profitably while ensuring their legacies endure. He also explains how to use business valuations to a boost a company's marketability and better prepare for the purchase or sale of a business.

Our guest on this episode, Sara Yood, senior counsel at the Jewelers Vigilance Committee (JVC), has made a career out of helping businesses wade through the myriad guidelines, regulations, and laws that apply to making and selling jewelry. It's not easy staying up to date—recent changes to the FTC guidelines, for instance, have changed how the industry can talk about karat gold, lab-grown gems, and metal coatings, while a recent Supreme Court decision changed the rules for taxing internet sales. Add in such continuing concerns as maintaining proper anti-money-laundering documentation and protecting intellectual property, and Yood and her team at the JVC have their hands full helping the industry to remain up to date and in compliance.

In this discussion, Yood talks about her background and education as well as what led her into jewelry law. She also provides insights, offers advice, and explains JVC's position on the newly announced line of 1k gold jewelry, the FTC's recent warning letters to lab-grown diamond marketers, and the federal government's pressure on the industry to improve its sourcing and chain of custody procedures.

Responsible sourcing and transparent supply chains are key topics in the jewelry trade and more important than ever to consumers.

Award-winning jewelry designer and founder of the Chicago Responsible Jewelry Conference (CRJC), Susan Wheeler, has emerged as a leading voice in the responsible jewelry movement. In this episode, Susan discusses her own journey toward responsible practices, the story behind the creation of the CRJC and its mission, initiatives to improve gemstone traceability, and the powerful roles that communication and collaboration play in facing the challenges of making jewelry "beautiful from beginning to end."

With the current generation of master craftspeople aging out of the jewelry industry, demand for professionally skilled workers is high. But a number of barriers stand in the way of developing an effective education-to-employment pipeline for prospective jewelers, including issues such as pay scale disparities, gender bias, a lack of on-the-job training, and misaligned expectations between the industry and educators.

Award-winning jewelry designer, goldsmith, author, and educator, Nanz Aalund has been spearheading a movement to raise awareness about these issues and to help develop the necessary training and apprenticeship programs to meet the industry's growing needs. In this episode, Aalund discusses her own path to becoming a jeweler and educator and identifies the existing obstacles and opportunities to ensure a steady flow of future qualified jewelers.

Jewelry artist and gallery owner Llyn Strong made her first piece of jewelry in 1972, igniting a passion that would develop into a now 40-year career. Recipient of an Honorable Mention in the Custom Design Distinction category of the 2019 MJSA Vision Awards competition, Llyn is recognized for her signature collections and her distinctive custom designs. In this episode, Llyn discusses how she got started making jewelry, the story behind the creation of her award-winning cuff bracelet, and how she approaches marketing and selling her custom design services.

Susan Crow—owner of East Fourth Street Jewelry in Northfield, Minnesota, and Responsible Practices Distinction winner in the 2019 MJSA Vision Awards—is dedicated to proper environmental, ethical, and sustainable practices. In this episode, she talks about the challenges and overall rewards of building a responsible supply chain and adopting green processes.

In this inaugural episode, host Travis Searle talks with Marty Hurwitz, CEO of MVI Marketing, about the current status of lab-grown diamonds. They discuss the impact of bigger industry players like Signet, De Beers, and Richline entering the space, the revenue potential for retailers who are embracing lab-grown options, the marketing techniques jewelers are using to promote them to millennial-age buyers, and what the future of holds.