With Ultra Violet as the Pantone Color of the Year for 2018, designers are anticipating heightened interest in jewellery pieces adorned with gemstones in rich, violet hues while gem traders are preparing for increased requests for such stones. Demand, however, will also depend on seasonality, the emergence of a new type of consumers and ever-changing buyer preferences, according to industry players.
The colour violet has always been associated with royalty, respect and sophistication. In jewellery, these symbolisms become even more pronounced particularly for consumers who view jewellery as one of the highest forms of self-expression. With the announcement of Ultra Violet as the 2018 Color of the Year by the Pantone Color Institute, the jewellery and gemstone sector is expecting a surge in demand for products that fall under this colour category, according to Clement Sabbagh, president of the International Colored Gemstone Association (ICA).
"We expect steady demand for violet gemstones especially amethyst and tanzanite, which are both readily available in the market," Sabbagh told JNA. "The fashion industry will be showing a great deal of products following the Ultra Violet trend. We expect jewellery designers and manufacturers to do the same."
Amethysts, which come in a range of pale pinkish to deep rich violet and reddish purple, are perhaps the most accessible and affordable among violet gemstones while tanzanite, mined from a single source in Tanzania, Africa, may be harder to source particularly in special sizes.
Tanzanite however is primarily sought after for its vivid blue to violet colour, which commands higher prices. Demand for tanzanite in luscious purple hues are seen to push prices up, noted the ICA official.
Other gemstone options include iolite; purple garnets from Mozambique and most recently from Malawi; purple sapphires, which are easily available in melee, calibrated sizes; and purple spinels with a pinkish hue from Tajikistan.
The purple cuprian (copper-rich) tourmaline from Mozambique is quite visible in the market albeit in smaller quantities while other alternatives include ornamental gems such as charoite, sugilite and pietersite.
"The US was the first to actively buy purple garnets and demand continues to increase. Europe has likewise taken interest in these gems. We also anticipate the strong appetite for tanzanite in dominant purple hues in China and the US to continue. Europe will no doubt follow suit," remarked Sabbagh.
Fashion-forward
Violet gemstones are seen to inspire fresh jewellery collections, according to jewellery designers and manufacturers. Antonio Calvo Garcia, commercial director of Spanish fine jewellery manufacturer Magerit, said violet gemstones are woven into the very fabric of his company's design and production philosophy. In fact, purple is the company's corporate colour.
"Violet conveys energy, originality and creativity. It's the colour that defines us. Majority of our collections include violet and purple gemstone jewellery pieces because they are highly preferred by our target audiences across major markets," Garcia said in a separate interview. "We hope the Ultra Violet trend will further boost existing demand for these gems."
Magerit remains bullish about prospects for violet gemstone jewellery in 2018, adding that the jewellery sector will take cues from the fashion industry.
Bobby Budhrani, director of Hong Kong-based fine jeweller Magia, said the vivid blue-violet hue of Ultra Violet implies "change" as the industry strives to become more dynamic and forward-looking after surviving challenging times.
"Ultra Violet will create a wave of fashion trends in clothes and other products, and this is where jewellers come into the picture. Jewellery manufacturers are expected to produce pieces based on the 'it' colour," noted Budhrani. "We foresee increased demand for pieces with amethysts, purple or lilac sapphires and lavender moonstones."
The company is currently designing pieces following the Ultra Violet motif but "with a certain twist," using amalgamated violet and pink stones.
This trend is expected to last for a season until the next colour of the year is announced, he added.
Millennials
A younger generation of jewellery buyers is also expected to jump on the Ultra Violet bandwagon, jewellery designer Achillea Teng of Singapore-based Caratell said.
Millennials, who represent a more innovative, aesthetically adventurous and trend-savvy customer profile, are likely to follow what's hot in the retail scene, particularly in fashion and jewellery.
"Some customers may want to follow trends while others may opt to stick to their unique personal preferences," noted Teng. "Buyers will also likely consider the jewellery design itself and whether the gemstone's colour complements their skin tone."
She also noted a possible increase in sales of violet gemstones in the wholesale and retail front. This however may also result in a surge in prices if there is more demand than supply.
Teng described Ultra Violet – a rich combination of blue and red with a higher percentage of blue – as neither warm nor cool but still exuding a calming effect. The colour is also associated with spirituality and connection to the cosmos.
"We will continue to design jewellery pieces using violet gemstones as long as the stone is of high quality and not treated. We take inspiration from the gems," she stated.
"Ultra Violet will create a wave of fashion trends in clothes and other products, and this is where jewellers come into the picture. Jewellery manufacturers are expected to produce pieces based on the 'it' colour." – Bobby Budhrani, Magia
Classic allure
While violet gemstones are projected to attract more attention worldwide, this market development will most likely not be felt by high jewellery manufacturers, according to Gübelin Jewellery.
"We do not expect an impact on high jewellery sales as a result of short-term colour trends. Clients in the luxury business are well-informed about the products they want to buy," revealed Gübelin President Raphael Gübelin.
High-end consumers choose gemstones that are most pleasing to them regardless of colour trends, he added.
"For coloured gemstones, the choice is highly individual and goes deeper than trends. Generally speaking, high jewellery is less influenced by such factors as it has a longer lifespan than fashion or designer jewellery. High jewellery pieces are even handed down from one generation to the next," he noted.
Gübelin Jewellery however offers a variety of coloured gemstone pieces, including those adorned with amethyst, in its Sparks of Fire line. Top-quality violet sapphires are likewise featured in its other collections, added the company official.
"Violet sapphires are a niche and can be appealing to collectors. Therefore, we also offer them to connoisseurs. In general, we recognise that coloured gemstones are becoming more important over the last few years, especially rubies, sapphires and emeralds," the jeweller said.
