Tuesday, 15th November 2005 (3670 views)

Gold jewellery must be properly marketed to capitalise on recent high prices, suggest industry experts.

According to Reuters, speakers at the London Bullion Market Association's Johannesburg conference suggested that, despite growth in the gold jewellery market, jewellery needed to be marketed more proactively.

Rian Raghavjee, AngloGold Ashanti's projects manager, told delegates that more powerful jewellery brands must be created.

He also suggested that more must be done to attract younger buyers to gold jewellery.

Analyst Paul Walker from GFMS commented on the lack of marketing from gold producers.

He claimed that they spend less than one per cent of turnover on marketing, in comparison to the eight to ten per cent spent by the top three luxury goods companies.

One country that has achieved particular recent success in the gold jewellery market is Turkey, which now has the world's third largest gold fabrication demand.

Cetin Binatli, director of Goldas AS, attributed this to the rise of branded jewellery companies within Turkey.

According to GFMS, gold jewellery offtake rose by 24 per cent in terms of value in the first six months year-on-year.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.