JCK editor-in-chief Victoria Gomelsky and information director Rob Bates sit down with Dave Bindra, vice chairman of B&B Positive Gems, to learn how he acquired began within the coloured gemstone enterprise and to listen to how properly he thinks the jewellery trade is addressing present challenges comparable to the necessity for extra younger expertise, elevated variety, and higher transparency. Gearing up for JCK Tucson 2023? Dave shares skilled insights on what to anticipate on the present in addition to which stones and colours are trending this yr. (Trace: Suppose pink in lots of shades and anticipate to see gorgeous sapphires and spinels.)
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Sponsored by De Beers: institute.debeers.com
Present Notes
02:08 An sudden journey into a jewellery profession
10:57 Encouraging youth and variety within the trade
13:53 What’s forward for coloured gem stones
15:33 The traceability issue
17:13 What to see at JCK Tucson this yr
21:10 Underappreciated gems and private favorites (or garnets, spinels, and sneakers)
Episode Credit
Hosts: Rob Bates and Victoria Gomelsky
Producer and engineer: Natalie Chomet
Plugs: @jckmagazine; @gemfluencer; institute.debeers.com
Present Recap
An Surprising Profession Path
Victoria introduces visitor Dave Bindra, vice chairman of Los Angeles–based mostly B&B Positive Gems and Instagram persona @gemfluencer, and invitations him to share his backstory. Dave recounts his sudden journey into the world of coloured gem stones. Although his dad and mom began B&B after emigrating to america and he grew up on the fringes of the jewellery enterprise, he set his sights on legislation college after graduating from USC. When he realized his coronary heart wasn’t in finding out legislation, he determined to accompany his father to Bangkok on a shopping for journey and noticed the internal workings of the enterprise for the primary time. “I fell in love with it,” remembers Bindra, who was moved by the position belief performed in transactions. “A handshake was extra necessary than any piece of paper on this enterprise. It takes a lifetime to construct these relationships.”
When the pandemic hit in 2020, Dave discovered himself—and B&B—evolving in unanticipated methods. After being locked out of his workplace for a month, he began sneaking into the constructing ninja-style to retrieve stones and posting them on Instagram from his yard. Quickly he was taking Zoom conferences and promoting stones nearly to his retail and personal jewellery companions. By nimbly rising its digital presence, B&B completed the yr robust, streamlined operations, pared down stock, and gained market share in its abroad sourcing networks. All this positioned them for a fruitful 2021 and 2022.
Although Instagram served B&B properly throughout COVID, Dave now makes use of the platform for artistic expression somewhat than e-commerce, showcasing no matter evokes him, from structure to trend to paint schemes that echo sure stones. He additionally makes use of it to showcase his sneaker assortment, matching vividly coloured stones with colourful sneakers, and drawing on his years as a deejay throughout faculty to pair photos with music.
Enhancing Inclusivity and Range
Rob observes that Dave is without doubt one of the jewellery world’s youthful members and asks if he thinks there’s an issue attracting younger expertise to the trade. Dave says he was lucky to have household ties that gave him an entrée, however the barrier to coming into the jewellery enterprise is actual. Fortuitously, the trade is taking steps to handle the problem. Lack of variety is one other weak spot the trade is working to right, he provides. He believes feminine trade leaders and variety initiatives by teams just like the Black in Jewellery Coalition and the American Gem Society are paving the way in which to constructive change.
Rising the Concentrate on Coloured Stones
Rob wonders whether or not the coloured gemstone enterprise may gain advantage from a powerhouse like De Beers to advertise. Dave says it’s a catch-22: The romance of coloured stones lies in the truth that they’re off the overwhelmed path; mass commercialization may uninteresting that mystique. Nonetheless, he says coloured stones are already changing into extra mainstream, as evidenced by protection in upscale publications comparable to Robb Report, Architectural Digest, and Vogue and jewellery marketed by heavy hitters like Louis Vuitton, Cartier, and Tiffany. Dave believes this heralds extra organized promotion and schooling to come back within the subsequent 5 years.
Why Traceability Issues
As a result of the worth of coloured gem stones is extra subjective than that of diamonds, gold, and different valuable metals, they aren’t usually traded or offered for contraband or tied to criminality, Dave explains. This makes traceability much less of a priority from a client safety standpoint than it’s for diamonds and valuable metals. Nonetheless, Dave sees worth in tracing the journey of coloured stones to market as a result of it creates stunning tales. He provides an instance of a pair whose sapphire engagement ring got here from Madagascar, making an unique place on the opposite aspect of the world a part of their love story.
Victoria wonders whether or not clients are demanding traceability or whether or not the trade is the driving pressure behind it. Dave thinks everyone seems to be asking questions on transparency. The shift is being pushed by youthful shoppers, who wish to know the place the issues they purchase come from and to ensure moral practices are concerned.
Speaking Tucson
Victoria asks Dave his predictions for JCK Tucson. Inflation has hit the market, so individuals might really feel a bit sticker shock, he says. Nonetheless, he expects robust purchaser turnout, given the shortage of obtainable resort rooms. A decent provide chain is making changing merchandise a problem for Dave and his friends, particularly for uncommon, unique gem stones. An unprecedented quantity of liquidity out there prior to now two years additionally makes it extremely aggressive.
Anticipate to see the strongest collection of sapphires from B&B within the firm’s historical past on the present this yr, together with gorgeous spinels, that are additionally in excessive demand. Essentially the most sought-after spinels are sizzling pink stones from Tanzania. The “it” colours will not be Viva Magenta (Pantone’s shade of the yr), however orange-reddish pinks, peaches, and neon shades, which he predicts will keep robust for years to come back. One other B&B choice in immediately’s coveted shade vary is a collection of attention-grabbing tourmalines in shades from rose to peach.
Underappreciated Gems and Private Favorites
Victoria asks Dave what he considers an undervalued gem. Individuals dismiss garnets as darkish crimson stones they’d discover in a grandmother’s pendant, however garnets are literally versatile, sturdy, and obtainable in a dramatic vary of colours. As examples, he mentions inexperienced tsavorite garnets, rose-peach malaya garnets, purple Umbalite garnets, and vivid orange mandarin garnets. Due to designers like Lauren Harwell Godfrey, who use the stones of their work, public notion is beginning to change.
Rob asks if Dave has a favourite gemstone. He’s a fan of spinels, which he collects. Their worth has appreciated tremendously since he began within the enterprise in 2007. Again then, he noticed bins of multicolored stones for $20 or $30 a carat. Now they high $1,000 a carat. He notes that B&B was the primary firm to purchase a significant parcel of reduce Mahenge spinels from Tanzania. On the time, they assumed extra can be available, not realizing a freak deposit had produced the big amount. Since then, no main manufacturing has emerged. In consequence, stones that after traded for $700–$800 a carat command $15,000–$20,000 a carat immediately.
Rob inquires in regards to the sneaker assortment Dave showcases in his Instagram feed. Dave says the concept of matching sneakers to stones occurred by accident. He was complaining to his greatest good friend from highschool that the sunshine in his workplace was excellent, however his toes had been at all times in his pictures. The good friend identified that Dave, a longtime sneakerhead, had footwear in each shade. Why not pair it with colourful gem stones? The remaining is Instagram historical past.
Dave and Victoria focus on the truth that the sneaker market has cooled off, due partly to manufacturers comparable to Nike abandoning the restricted runs of the previous. Victoria says this underscores the worth of shortage, a theme that ties into JCK Tucson, the place B&B and different corporations will showcase uncommon gem stones.
Photograph courtesy of Dave Bindra
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