Sebastian Denton : “Jewellery is attractive for clients wanting to invest for the long term, while still being able to enjoy a luxury product for their everyday lifestyle”
What characteristics set your luxury jewellery pieces apart from others in the market?
In the Mauritius market, Adamas distinguishes itself by having the largest variety of models and stock on the island, as well as having in-house manufacturing capacity, inhouse developed collections, and introduction of new collections multiple times each year, allowing for the latest worldwide trends to be incorporated into our collections and stock of items in our boutiques. We are offering the full range of all fine jewellery categories, as well as luxury jewellery brands like Pomellato, FRED, Montblanc, and a full range of luxury Swiss watches and other watches, all under one roof. Relative to the global market, Adamas distinguishes itself from retailers in South Africa, France, UK, Germany, Italy, Europe in general, retailers in Dubai, and those in Asia and Australia also, by having in more completive price advantage, as we are sourcing at a global level, not only from a national or regional wholesaler/ distributor. So, we are able to find and secure the best quality and value items from the full global marketplace, and we are able to offer tourist visitors, and all local departure visitors, ether VAT refund or VAT free delivery at airport, which is open to Mauritians also.
We also offer a larger variety of styles and options and categories, under one roof, than usually any other typical jewellery boutique or retailer in the aforementioned international markets would offer, due to our wanting to satisfy the maximum variety of clients and different design tastes in one location, and to be able to provide items to tourists clients with immediate availability, as they stay only 8 – 12 days in Mauritius usually, so our local clients also benefit from the large stock available immediately.
How do you select the materials and gemstones for your luxury creations?
At Adamas, regardless of what category of jewellery we are working on in our sourcing, selection and manufacturing process, we always try to ensure the best quality possible combined with best value for the given quality grade or category. We make sure to offer a variety of different price ranges and quality aligned to each price, so that regardless of a client’s budget or idea when they come to visit Adamas for their jewellery needs, we will be sure to have a large variety of models and price ranges in any given category to hopefully satisfy their desires and find their dream and desired piece.
Our focus is really on variety and broad range of options, with many classic and eternal designs, as well as certain one-off / unique pieces, and the ability to make to measure and source any given stone type or size that the client might request, through our international network of associates.
What are the challenges and opportunities facing luxury jewellers today?
In a global economic environment that has been deteriorating the past year, where clients spending capacity and tolerance is very low for these price increases due to these raw materials cost changes, the sales potential and growth of many sectors of the jewellery industry is affected, with mid- and low-range fine jewellery suffering in large mature markets like the US and Europe, where the consumer base is much larger, and jewellery items are treated as much more discretionary spending, and non-essential vs other goods and services.
The opportunities for our sector are more related to our product category position being part of the so-called ‘hard-luxury’ goods, so greater store of value and maintenance of value over time, as well as long-term durability and quality maintenance, and so seen as more of an investment and durable than other product categories in the luxury sector like clothing, accessories, shoes, etc. This makes jewellery more attractive for clients who are wanting to invest in something for the long term, while still being able to enjoy a luxury product for today and their everyday lifestyle.
The other specific opportunity that has been doing well so far in 2023, regardless of the difficult global environment, has been the high-end range jewellery and haute joaillerie, where the customers of this price range of jewellery items seem to be more insulated from the global economic pressures, and are more able to tolerate the price increases due to raw materials increases, and are able to invest more funds in these top end items that are more rare, and so potentially have greater potential to keep their value overtime, as well as bestowing upon their owners a greater feeling of exclusivity and luxury by having something unique and rare.