2024 CIBJO Congress opens with industry leaders declaring
determination to protect consumer confidence in jewellery
Liu Ping, Deputy Secretary General Secretary General of the Government of Shanghai, opening the 2024 CIBJO Congress.
NOVEMBER 2, 2024
The 2024 CIBJO Congress has opened in Shanghai with a host of industry leaders underlining the vital importance of building a framework to protect consumer confidence in the jewellery industry.
The Congress was opened by Liu Ping, Deputy Secretary General of the Government of Shanghai, China’s largest metropolitan region, and by Li Dong, President of Donghao Lansheng Group, a congress host. The other congress hosts are the China Gem and Jade Exchange and the Diamond and Gems Administration of China.
Consumer confidence, said Gaetano Cavalieri, President of CIBJO, is maintained by members of the industry complying with responsible business standards. And creating those standards, he added, are at the heart of the World Jewellery Confederation’s mission.
“We believe passionately in the potential of the products we manufacture and sell, in the timeless beauty of the gems and precious metals of which they are comprised, and in the genius and artistry of the men and women who create the final products,” Dr. Cavalieri said. “In our hearts we know that these are objects of great value. But we also understand that this value is maintained as a result of an unwritten contract between ourselves and our consumers. If we do not honour that contract, if we do not protect the trust they place in us, then the value of the jewellery – the prices, the revenues and profits – are all worth very little.
“In recent years, the diversification of global trade has become increasingly apparent, with the world economy facing increased multiple, complex, and uncertain challenges,” said Wang Baomin, Chairman of the National Gems & Jewelry Testing Group (NGTC), in his address the gathering. “As we navigate a critical transformation period in global consumer economics, the CIBJO Congress 2024, focusing on the themes of ‘Industry Standards, Sustainable Development, and Responsible Sourcing,’ is timely and relevant. The congress encourages the global jewelry community to engage in deep reflection during its expansion process, focusing on how to apply more scientific methods to strengthen industry regulation and how to establish a more robust branding system for achieving high-quality development.”
Mr Ye Zhibing, President, Gems and Jewelry Trade Association of China (GAC), spoke of the commitment of the Chinese jewellery industry to meet the highest standards in the trade. “We are committed to playing a constructive role in the major international agenda of fair competition, synergy and mutual benefit in the jewellery industry, and we are willing to contribute to the sustainable development of the global jewellery industry,” he said.
Senior industry leaders spoke of the need to strive to achieve the highest possible standards to defend consumer confidence in a period of geopolitical uncertainties.
“In this room, I see the leaders of the industry gathered at a difficult time, and I remind you that our greatest advancements have been delivered in challenging times,” Ms. Feriel Zerouki, President of the World Diamond Council and Senior Vice President of De Beers Group, said in an opening address.
“Leadership shows its true colors in times of resistance and uncertainty.,” she continued. “True leadership isn’t about making popular decisions or seeking applause. It’s about standing firm in our values and making responsible choices that will serve us all in the long run, even if they’re not always popular,” Ms. Zerouki stated.
“True leadership is tested by persistence in the face of doubt. It requires courage to choose the right path, not necessarily the easy one. Often, it means making decisions that benefit not just today’s stakeholders but future generations,” she added.
Edward Asscher, Vice Chair of the Responsible Jewellery Council (RJC), referred to the present uncertainty in the jewellery industry and the need to press forward to deliver the highest standards.
“Uncertainty does not help consumer confidence. And all we do, selling jewellery, diamonds, coloured stones or watches is about consumer confidence,” he said. “
‘When we are talking about consumer confidence we are talking about all aspects,” he stated. “The general economic situation in China, the USA and Europe as the most important consumer markets. But we also must look at other factors influencing the consumer. A responsible supply chain and the change in environmental demands, Mr. Asscher continued.
In terms of efforts to do good across the supply chain, Iris Van Der Veken, Executive Director of the Watch & Jewellery Initiative 2030, said: “We believe it is about people. No one can do this alone.”
She added, “If we look along the supply chain, each one of us is responsible. We are here to help accelerate and innovate.”
Damien Cody, President of the International Colored Gemstone Association, spoke of the need to combat risks of falling consumer confidence in the jewellery industry.
“Let’s provide full and honest disclosure about our products, let’s use consistent terminology and gemmological reporting,” Mr Cody said.
He also called for renewed efforts by the industry to achieve greater sustainability. “Let’s make every effort to reduce our foot-print and do no harm so that future generations can prosper,” he said.
