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Segmentation-

Largely female market, but smaller selection of male jewellery

Variety of ages

Geographically- targeted countries that jewellery is large market

Men buying jewellery for women

Women buying gifts for other women- friendship bracelets, partnership with Women for Women international

Targeting-

Demi-fine jewellery market- new market in jewellery industry- moderate prices but luxury branding for a smaller price

Postioning-

the brand is well known within its own community (ie. its the type of brand you either know and love or you don't know). Word of mouth is very beneficial for the brand and this suggests that it's postioning is successful as it is a brand that comes to customers minds when they think about jewellery companies. (see MV icons

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Monica Vinader Official (@monicavinader) * Instagram photos and videos

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217.6k Followers, 787 Following, 2,049 Posts - See Instagram photos and videos from Monica Vinader Official (@monicavinader)

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Positive Luxury is the award-winning company behind the interactive Butterfly Mark. We award the Butterfly Mark to sustainable luxury brands that demonstrate a positive social and environmental impact. Shop exclusive collections and unique experiences from top ethical brands.

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To mark the Monica Vinader 10 year anniversary, my sister Gaby and I wanted to celebrate by giving something back. Women for Women International is a charity that is close to our hearts; one which helps to empower and educate women in war-torn countries to give them a second chance in life.

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Join our affiliate program and promote us on your site or blog to earn commission on any sales.

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(The UK public voted to leave the European Union by 52% to 48% in a referendum on 23 June 2016)

Brexit is one of the hot media topics of the moment in the UK and elsewhere around the world. In this article we are going to examine the possible implications of Brexit on the gem and jewellery industry. Whilst Brexit remains a journey rather than a final destination there are of course unknowns at this stage but we are starting to shine a light on the future trajectory of the fine jewellery, gem and luxury markets. Interestingly views within the sector prior to the 23 June 2016 referendum were as divided as they were across the nation as a whole. One poll at an industry dinner indicated that 38% were preparing to vote leave, 42% remain and 19% were undecided. There are three main issues to which the jewellery sector is acutely vulnerable and we will look at each of these in turn below.
Uncertainty & volatility
It is a universal truth that no market likes uncertainty. When you are running a business it is a precious asset to know what your future costs are likely to be to enable you to budget accordingly. Luxury items, including jewellery, tend to be one of the first things consumers cut back on in times of volatility. Despite highly pessimistic warnings regarding retail spending last summer, it seems to have remained buoyant and indeed many retailers reported record Christmas sales in 2016, especially online. The one caveat to this optimism rests in the fact that the UK has not actually left the European Union yet and will not do so until at least 2019 so we need to be cautious when considering the medium to long term implications. That said, most forecasters believe that the UK economy will perform strongly in 2017 and 2018 so it is clear that the predicted worst case scenarios are unlikely to be realised.
Precious metal prices
One of the most significant Brexit risks to the gem and jewellery industry was a prolonged and substantial increase in the price of precious metals, especially gold. This is the sector's Achilles heel and something that often exacerbates the ill effects of reduced consumer spending, as gold is often used as a 'shelter' or 'safe haven' commodity for investors during an economic downturn, which has the effect of inflating its value. In the immediate aftermath of the vote to leave the EU the price of gold did spike significantly from around $1,250 per ounce to just over $1,370 in just two weeks. It has however cooled off since then and currently sits at $1,213 (25 Jan 2017). At the same time other 'defensive' assets, including Swiss Francs, sovereign bonds and some equities also spiked temporarily but these too have returned to similar pre-vote levels.
Currency fluctuation
Gems and precious jewellery are very international by their very nature and they are usually priced in US dollars, a currency that tends to remain fairly constant whilst others float up and down against it far more rapidly. The record fall of sterling against the US dollar in the aftermath of the Brexit vote and its stubborn refusal to rise significantly in the 7 months that have so far followed has certainly disadvantaged businesses that earn their revenues primarily in sterling. The same is also true in reverse in that firms that mainly trade in dollars have been handed a competitive advantage over those that rely on sterling receipts.

Given the above, the obvious question that follows is what can British jewellers do in order to mitigate the potential downsides? The most practical steps that any business can take when faced with uncertainty is to provide reassurance to their target market and encourage them to keep spending. Evidence suggests that marketing and advertising budgets have not appreciably changed in the past 7 months since the referendum result and crucially sales volumes have increased a little, posting circa 5% gains in the UK and USA in 2016 overall. A general restraint has also been shown by most retailers who have, by and large, resisted the urge to raise prices in line with the increasing costs they are facing with imported raw materials. Tiffany & Co, who achieve over 40% of their European sales in the UK (totalling more than $200 million per year), initially warned that the "weakening of foreign currencies against the US dollar would require the company to raise its retail prices in order to maintain its worldwide relative pricing structure." However, they later went on to actually cut some of their prices in the run up to the festive season in 2016 and enjoyed strong Christmas sales as a result.

One unforeseen consequence of the Brexit vote on the UK jewellery industry was that the slide of the pound made it considerably more competitive versus their Swiss counterparts, who have suffered significantly from the inflation of the Swiss Franc versus not just Sterling but also the USD and Euro. The knock on or 'trickle' down effects of the UK's decision to quit the EU may also have far reaching consequences even further beyond our shores. India exports more than $4 billion (US) in gems and jewellery to the UK each year, more than 10% of its total exports of these products, and that figure has been rising in recent years. A further consideration is the fact that a good many diamond companies, including Anglo American (the owners of De Beers), Rio Tinto (who operate the famous Argyle mine in Western Australia producing 90% of the world's pink diamonds) and Gemfields (the world's largest supplier of coloured gemstones) are listed on the London Stock Exchange (LSE). In a fascinating twist, the FTSE100 index of leading shares on the LSE has now broken through all of its previous records, at one point crossing 7,330, demonstrating that whatever the future holds for the gem and jewellery industry there are certainly still some surprises in store.

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What effect will Brexit have upon the gem & jewellery industry?

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(The UK public voted to leave the European Union by 52% to 48% in a referendum on 23 June 2016) Brexit is one of the hot media topics of the moment in the UK and elsewhere around the world. In this article we are going to examine the possible implications of Brexit on the gem and jewellery industry.

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The Responsible Jewellery Council is the trading name of the Council for Responsible Jewellery Practices Ltd. The Council for Responsible Jewellery Practices Ltd, 9 Whitehall, First Floor Front, London, SW1A 2DD, UK. The Council for Responsible Jewellery Practices Ltd is registered in England and Wales with company number 05449042.

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Each colour has a different meaning- personal meanings to jewellery

Largely popular and iconic for the brand.

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To make your friendship bracelet truly unique, use our complimentary engraving service to add a name, a date or a fun motif. What better to way to create a meaningful gift for a friend or loved one than with a bracelet tailored to them, through cord meaning and engraving.

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High quality products , but at a lower price- keeps them within a market of their own

Keeping on top of their competition

Individuality and Authenticity as a brand- not trying to copy other brands, creative designs

Focusing on consumer wants and needs alongside fashionable trends

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Turnover (2017)- 35,767,335, with sales overseas nearly matching the national sales

Current number of Employees(2017) - 184 - this has now expanded to 220

Number of Recorded Shareholders- 28

Number of subsidiaries- 1 (Monica Vinader Hong Kong Limited)

(Fame Database, 2017)

In just 7 months, she has sold "150,000 of her iconic friendship bracelets" and next year her turnover is "expected to climb to £50 million" (Bethan Holt, 2018, The Monica Vinader effect: how this woman reinvented your jewellery box).

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"Across all categories, luxury is more approachable and instant. People no longer think about keeping jewellery in the safe or saving it for a special occasion. They want something that fits with their everyday lives"
(Sarah Royce-Greensill, 2018, How Monica Vinader Conquered Demi-Fine Jewellery)

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LONDON, United Kingdom - Monica Vinader, founder of the namesake British jewellery brand, always said her goal was to become a £50 million ($64 million) business by 2019. As it turns out, she should have aimed a lot higher.

Her unaudited sales for the financial year ending July 2018 were £43.2 million - or about $55.1 million - representing year-on-year growth of 21 percent. With plans to add to her 15 standalone stores across the UK, America and Asia-Pacific, she's confident the business will surpass that next year. Having cornered the market for accessible fine jewellery and built a healthy, profitable supply chain, she now has her sights set on the next target: £200 million ($255 million).

"I don't know by when," she says from her office in London's Victoria, "but I'm confident we've built something that can become a really big brand. My desire was always to reach a lot of people."

It's an impressive trajectory for a business she and her sister Gabriela began from a converted forge at Monica's home in Norfolk in 2007. Their aim was to "plug the gap between fine and fashion jewellery," and that remains her raison d'etre.

So-called "demi-fine" jewellery is a growing category in the industry; so much so that Net-a-Porter launched a subsection devoted to it in October 2016. While many jewellers use 14- or 10-karat gold and pavé diamonds, Monica Vinader jewellery is forged in sterling silver coated with 18-karat gold vermeil, using primarily semi-precious stones. Prices start at £35 ($45) for a mini sterling-silver pendant, and most pieces are priced between £65 and £495 ($83 to $631): a sweet spot for both gifting and self-purchasing.

"We are the ultimate accessible luxury brand. It's the constant driver of everything we do," Vinader says. Expanding into fine, solid-gold jewellery and larger diamonds is not on the cards. "We've helped people understand what a quality product vermeil can be and that's what we want to focus on."

That said, her upper price point has gradually increased, to £3,495 ($4,458) for a pair of cocktail earrings with 966 pavé-set diamonds totalling 2.62 carats. The use of vermeil means it offers customers far more bling for their buck than other demi-fine brands, which at Net-a-Porter range from plain 14-karat gold pieces at £40 ($51), to a choker dotted with four tiny stones by New York-based brand Wwake at £3,815 ($4866).

"Demi-fine jewellery sales are performing incredibly well - we're constantly reordering as so many styles sell out," says Elizabeth von der Goltz, Net-a-Porter's global buying director. "We still see a lot of opportunity within our demi-fine business and we are growing our investment in this sector."

The popularity of accessibly priced jewellery is in part due to a loosening of formality in the industry, Vinader believes. "Across all categories, luxury is more approachable and instant. People no longer think about keeping jewellery in the safe or saving it for a special occasion. They want something that fits with their everyday life, and our lives nowadays are quite informal," she says.

Self-gifting has been a huge driver of growth; women now buy jewellery as an accessory, in the same way as shoes or bags. Vinader capitalises on what she calls this "millennial mindset" by regularly introducing new, fashion-forward designs and engaging with customers via social media. The brand's Instagram feed became shoppable this spring (it says sales driven through this channel are difficult to trace), and it works with influencers to raise brand awareness. Its customers also act as authentic advocates, tagging the brand in their own social-media posts.

Vinader isn't the only jeweller to target millennials. Under new creative director Reed Krakoff, Tiffany has directed its attention towards a younger audience by enlisting 20-year-old actress Elle Fanning to advertise its dainty new Paper Flowers collection (starting at £2,325, or $2,966), and De Beers has launched a range of "starter" diamonds, priced from £700 ($893) for a single 0.07 ct diamond on a white gold bracelet. New diamond brand Vashi, meanwhile, has positioned itself as the engagement ring supplier of choice for millennials, thanks to its casual-seeming stores (walls are covered with graffiti from happy couples who #saidyes) and focus on easy customisation: customers can select a diamond and design their own ring from a set menu of options.

Vinader clocked the potential in personalisation early on - firstly through the ability to stack and style her jewellery (at £85, or $108, for a colourful cord friendship bracelet, why not buy two, or three?), and then via engraving. The company developed an app that allows every member of staff, not just a specialist engraver, in every store and shop-in-shop to fulfil any order. The trend isn't going anywhere. "It's more popular every day," Vinader says, showing off a new charm bracelet that capitalises on this appetite for individuality.

"Monica Vinader continues to own the 'everyday luxury' trend of essential pieces that most women want to build into their jewellery wardrobe," says Ruby Chadwick, accessories and jewellery buyer at . "The brand has continued to be a significant part of our jewellery business, so much so that later this year we are expanding its space in the jewellery hall and maximising the personalisation service to meet consumer demand."

Having last received investment in 2016 (£14 million from Piper Private Equity, with £6 million from Winona Capital to fund the first US store), growth is now self-funded. Vinader's workforce stands at 220 worldwide, with 48 staff in London and 54 in Norfolk - where she has taken over 16,000 square foot of converted farm buildings on the Holkham Estate - and the rest split between offices in Hong Kong and New York, plus the global network of sales associates. Hiring, coaching and retaining the right people has been one of her biggest challenges, as has the transition from start-up to larger corporation. "If you can foster that entrepreneurial instinct in the teams then they retain some of that [start-up] ethos," she says.

It's an ethos she also encourages with her workshops in Jaipur, Mumbai and Bangkok. Bringing them closer to the planning and giving them visibility on volumes and growth has been essential in ensuring the scalability of her supply chain. "The most important part has been driving the psychological alignment: we see them as partners. We understand them, they understand us, and we're all going after the same goal."

Her team sources rough stones, which are cut in Jaipur to fit designs, helping to keep costs down and improve scalability. Stones, she says, are "a real time drain, but something we invest a lot of time and energy in because they're key to what we do." She's not interested in lab-grown diamonds, even though they would fit her accessible luxury ethos, priced from 30 percent to 80 percent below natural stones. "I'd never say never, but it's not in our DNA. We're obsessed with natural stones."

She doesn't rule out expanding beyond jewellery eventually, but for now, she's focusing on growing within the UK and worldwide. Having recently opened a fifth London store in Bicester Village, she's planning to expand outside of the capital in the near future, as well as adding more outlets in the US, UAE and Asia. The brand's US presence has been bolstered by a partnership with which comprises 55 fully branded shop-in-shops across the country. Increasing e-commerce, which currently accounts for 50 percent of sales, is a huge driver towards that £200 million goal. "Our online business is growing tremendously and there's still a lot we can do to capitalise on it. We've always been web first; that's how people shop nowadays."

Vinader's creativity is matched by her sister's Type A rigour. She talks a lot about the importance of data, analysis and planning. But the last decade is summed up best by the qualitative stories of the women who wear her jewellery.

"To celebrate the anniversary, we decided to use real customers in our digital marketing campaign. We did the casting over Instagram and had an overwhelming response from women telling us what the brand means to them. Sitting with my sister watching the videos was one of the most moving things I've ever done. We laughed, we cried - to hear that community advocate for us in such a generous, genuine, unscripted way has been truly humbling. I'm looking forward to seeing what the next 10 years holds."

Related Articles:
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How Monica Vinader Conquered Demi-Fine Jewellery

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LONDON, United Kingdom - Monica Vinader, founder of the namesake British jewellery brand, always said her goal was to become a £50 million ($64 million) business by 2019. As it turns out, she should have aimed a lot higher.

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Marilyn Monroe famously sang that diamonds are a girl's best friend, but if she were performing today, those words might go a little differently. Something like: ' Pavé diamonds set in gold-vermeil sterling silver are a girl's best friend.' Admittedly it doesn't have quite the same ring to it, but it does describe a modern attitude that has transformed our relationship with jewellery in recent years.

Monica Vinader, who celebrates a decade in business this autumn, has been at the forefront of this 'sweet spot' jewellery revolution. She has hit on a new formula that has taken her from making pieces as a hobby to being a name who hundreds of thousands of women around the world have in their newly transformed jewellery boxes.

Her brand appeals to everyone, from you and me to the Duchess of Cambridge, who has mixed her Cartier, Garrard and treasures borrowed from the Queen with Vinader's more relatable green-onyx Siren earrings or the Riva diamond cluster drop earrings for numerous royal engagements.

Kate Winslet, Naomi Watts, Bella Hadid, Eleanor Tomlinson and Rita Ora are just a few more of the celebrities who adore Monica's 'accessible luxury' designs. Even Gareth Southgate isn't immune to a little piece of Monica; he accessorised his now-iconic waistcoat with a Monica Vinader men's friendship bracelet during one of England's World Cup matches earlier this summer.

Credit: shuttershock

It's no surprise, then, that in the past three years, turnover at Monica Vinader has trebled to reach £35.8 million, with that figure expected to climb to £50 million next year. At her offices in Norfolk, London, New York and Hong Kong, Vinader now employs 220 people. Between January and July this year, 150,000 friendship bracelets, one of her signature designs, were sold - that's more than 5,000 a week.

F'I definitely think jewellery and diamonds have been demystified in the past 10 years,' says the designer from her studio on the Holkham Estate in Norfolk. 'When we started this, I don't think there were as many brands that catered to women's self-purchasing. The desire was always there but the product itself wasn't.'

Vinader's first inkling that luxurious need not mean astronomically expensive came growing up in San Sebastian in Spain with her antique dealer parents. 'My mother would always talk to me about this French technique called vermeil. Later, I started playing around with it and seeing how I could get it to do what I wanted it to,' she remembers of the process that has now helped to make her into a household name. Vermeil is the term used for silver, or sometimes bronze, that has been gilded in gold, so you get that precious effect, but at a more affordable price.

Nura necklace, £295, Monica Vinader
After studying fine and decorative art at the City & Guilds of London Art School and working for luxury jeweller Tateossian for three years, Monica moved to Patagonia and then Mexico with her husband Nick. While there she carried on experimenting with jewellery, making it as a hobby while they ran fishing and shooting lodges.

When she moved back to the UK and had her daughter Scarlett, now 11, Vinader persuaded her business-minded little sister Gabriela, who had been working for Amazon, to come on board. 'I realised there was a gap between fine and fashion jewellery. It had to be something that resonated with me, my friends and peers, and what we wanted to wear, but also with people older and younger than me.'

Though she had belief in her business model, they were starting out in the middle of the financial crisis. 'Everyone was talking about the end of the world, so no one was interested in investing, she says. 'We went to friends and family because we were looking for very small amounts of seed money, but 2008 was not a good year to do that. We mortgaged our family house to get through Christmas. It was risky, but also one of the best things we did - we needed to give it all we had.'

Clockwise from top left: Riva wave ring, £250; Siren wire earrings, £135; Riva diamond hoop earrings, £325; Siren cluster cocktail ring, £175
A decade and several rounds of investment later (including £20 million from private equity house Piper in 2016) and Vinader's designs, which are made in India, have become cult purchases.

Monica, who is so glamorous and gregarious that she immediately makes you feel like an old friend, cites stacking and personalisation as two concepts central to her success. At the time of writing, there were 127 stacking rings available on monicavinader.com, ranging in price from £55 for a slim, organically-formed silver and white topaz band to £650 for a 0.35-carat pavé-diamond disc.

Grown-up friendship bracelets, which combine elegant, engravable plates of metal with sleek, colourful plaited bands, are another key creation in the range - the Fiji was the original, introduced in 2009, but now there are 108 variations in the collection, including the Havana and the Nura.

Credit: shuttershock

'We have 18-year-olds and 70-year-olds wearing the same piece. Someone might buy a £200 bracelet as an aspirational thing, and someone else might buy 20 in a year and gift or stack them,' Vinader says.

Last year, fashion search platform Lyst found that 78 per cent of jewellery purchases are now made by women; Monica's success is testament to that. So when she was looking for charities to partner with, Women for Women International UK was a natural choice.

This year she has become an ambassador for the organisation, which works with women in countries affected by conflict. Fifty per cent of proceeds from the Nura friendship bracelet range will be donated to the charity - Princess Beatrice has already shown her support for the initiative by wearing hers.

This has been a summer of celebration for Vinader, who marked her 50th birthday with a big party at the Norfolk home she and Nick have lovingly renovated. 'I danced the night away, which was exactly how I wanted to celebrate,' she says.

'We believe we have the makings of a big company with a long way to go. The next 10 years are about us growing even more,' she enthuses. Clearly her sweet-spot jewellery mission has only just begun.

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The Monica Vinader effect: how this woman reinvented your jewellery box

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Marilyn Monroe famously sang that diamonds are a girl's best friend, but if she were performing today, those words might go a little differently. Something like: ' Pavé diamonds set in gold-vermeil sterling silver are a girl's best friend.'

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LONDON, United Kingdom - Accessible jewellery brand Monica Vinader has had a transformative eighteen months. Turnover for 2014 is projected to hit £14 million (about $22 million) - up 85 percent year-on-year - and the company, which operates from the rural English county of Norfolk, has opened several new points of sale as part of its plan to become a "global brand with a £50 million turnover by 2019."

In London, Monica Vinader has added two shiny new retail stores to its existing South Molton Street presence, including a two-storey, 2,500-square-foot flagship in the city's Chelsea district. Meanwhile, just one week ago, the company opened a boutique in Hong Kong's IFC mall. And, in the coming weeks, a space at Boutique1 in Dubai is set to debut. The brand is also available at Harrods, Selfridges and , as well as online at Net-a-Porter and via its own e-commerce site.

For Monica Vinader, who founded the eponymous company in 2007 with her sister Gabriela Vinader, their recent achievements represent not so much an inflection point, as a few more steps along a road they say they mapped out from the very inception of the brand.

"When I read our business plan from 2007, it really hasn't changed much. Gaby and I were quite focused and we've always known where we wanted to go," Monica Vinader explains. "From day one the plan was to build a brand and for it to be a global luxury brand; we knew that we wanted to be in the accessible luxury arena and that there was a gap between fine and costume jewellery that we would bridge."

Art school-educated, with three years experience working for UK-based jewellers Tateossian and a cosmopolitan lifestyle that has exposed her to inspiration from around the world, Vinader has always been the creative force behind the company. In 2002, while still working for a high-end, Buenos Aires-based travel company, Vinader started to "dabble," as she puts it, in the world of jewellery. Even as she describes that early "bespoke experiment," it is evident that this was no mere hobby and Vinader was already thinking about how she could build a successful commercial enterprise around what she saw as a gap in the market.

Specifically, Vinader was interested in what was then a relative hinterland between fine and fashion jewellery. Prior to working on her own designs, she had, herself, tried in vain to find pieces made with fine materials that were neither prohibitively expensive nor aesthetically bland. And when she began creating her own jewellery and selling directly to customers from her studio in Norfolk and, later, through London department store Liberty, Vinader was intrigued to discover the number of women who were eager to buy this kind of jewellery. "I understood very early on the power of involving the customer," she explains. "They became very engaged in the process."

Importantly, customisation is a key pillar of the Monica Vinader brand - the rings and pendants that the company sells are designed to be worn in combination, allowing customers to create individual portmanteau pieces. Every Monica Vinader store and concession offers in-house engraving for friendship bracelets and necklaces.

Gift purchases also make up a large part of the company's turnover and a surprisingly large proportion of this is made up of women buying gifts for other women. In fact, girlfriends often club together to purchases Monica Vinader items for friends.

Accessibility is built into the core of the brand. While the company's product and store designs communicate quality and luxury, the staff are friendly and the prices are unthreatening. While a few pieces creep into the thousands, such as the Ava Diamond Disc Cocktail Ring, which retails for £1,250 (about $2,000), much of the offering is much more affordable. Friendship bracelets, such as Monica Vinader's Havana and Bali models, start at £85 (about $140) and most pieces are priced between that and £300 (about $495).

"The look of gold was very popular, as well as the real stones. Customers really appreciated the quality of my materials," explains Vinader. But to keep prices down the company uses vermeil, sterling silver coated with gold. The designs also make judicious use of decorative stones - deep blue lapis, sharp toned turquoise, milky iridescent labradorite and moonstones, striated dendritic agate - as well as tiny diamonds and cloudy but finely-coloured gems such as emerald, ruby and sapphire.

For the Vinaders, rapid growth has always been part of the plan. At first, this meant finding gem cutters and manufacturers in India who believed in the company's vision, accepting small orders for the first few years in the belief that swift expansion would follow. "We've hired ahead of growth and set up our supply base ahead of growth," explains Monica. "We also spent quite a lot of time establishing our senior team."

Monica Vinader has been profitable since 2009 and consistently reinvests profits in the company's expansion. But external investment has also been key to driving the brand forward. In 2008, a loan allowed the nascent brand to get its product into stores for Christmas; in 2010, the company raised funding from London-based venture capital firm Beringea, allowing them to open their South Molton Street store; further investment, in 2013, from Beringea and the Clark Group, a private equity firm, helped to support brick-and-mortar retail expansion, as well as the development of the brand's e-commerce site, which currently drives a third of the company's turnover.

E-commerce has also been the brand's testing ground for evaluating the viability of expanding into new territories. The company's retail openings in Hong Kong and Dubai both followed strong online sales in these markets and Vinader expects the new physical stores will drive sales online, and vice versa.

Next up, Vinader has her sights on the US market: "We're getting some very good traction both through Net-a-Porter and our own website. That's going to be one of my focuses for next year, but we really need to have the team to be able to scale up to it."

While Monica Vinder may be the voice and the name of the brand, she frequently refers to her sister Gabriela - the company's chief operating officer, who worked at Amazon, the Boston Consulting Group and Merrill Lynch prior to joining the jewellery venture - as critical to the success of the business. "Our complimentary skills have been key to what we've done," says Vinader. "I couldn't have set up a business and afforded to hire her, and she couldn't have afforded to do the reverse."

Editor's Note: This article was revised on 17 November, 2014. Due to an editing error, a previous version of this article misstated that Monica Vinader's turnover for 2013 was £14 million. £14 million is, in fact, the company's projected turnover for 2014.

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Between Fine and Fashion Jewellery, Monica Vinader is Poised for Expansion

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LONDON, United Kingdom - Accessible jewellery brand Monica Vinader has had a transformative eighteen months. Turnover for 2014 is projected to hit £14 million (about $22 million) - up 85 percent year-on-year - and the company, which operates from the rural English county of Norfolk, has opened several new points of sale as part of its plan to become a "global brand with a £50 million turnover by 2019."

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The 'Siren Wire Green Onyx' earrings have been worn by the Duchess 4 times. Since then, the company has had to keep a constant stock of them, due to their popularity.

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There are a few major competitors that Monica Vinader has, these include:

Tiffany

Pandora

Missoma

Thomas Sabo

Links of London

Alex Monroe

Ippolita

Monica Vinader's new ALTA capture charm bracelet, allows them to compete with the well known Pandora charm bracelet. This could be in an attempt to reach a younger target market and to further the idea of individuality.

Tiffany also offers engraving services, monogramming and embossing. Similarly customers can also draw images which can then be transferred to engravable objects They're arguably Monica Vinader's main competitor due to its positioning in consumer's minds.

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POLITICAL/LEGAL

Elements in the Jewellery-

Lead, Nickel and Cadmium are often used in jewellery for reasons such as brightening the metal and stabilising the jewellery. However, these could all be harmful to people and there is law in the UK surrounding them; "products that come into direct and prolonged contact with the skin must not release nickel more quickly than an specific rate" (Business Companion, 2018)

Responsible Jewellery Council-

The RJC (Responsible Jewellery Council), consists of companies being audited for RJC code of practices. This addresses; "human rights, labour rights, environmental impact, mining practices, product disclosure"
and many other part of the jewellery supply chain. Companies can join in order to have a seal of approval that they are responsible in the production of their jewellery.

Prevention of using conflict diamonds-

There are ethical and legal reasons behind the prevention of using conflict diamonds. Companies have the option to source diamonds through suppliers that follow the regulations of the Kimberly Process and
the World Diamond Council's system of Warranties.

Hallmarking-

Many countries require jewellery such as children's jewellery to be tested to see if they contain toxic metals, and so they meet the safety and quality requirements for the country.

Effect of Brexit on Jewellery Industry-

Luxury items aren't a necessity so may be the product people will stop buying first, the price of precious metals may increase. Due to lack of sales, there may be in a increase in marketing and advertising in order to keep customers purchasing products.

ECONOMIC

Brexit-

Since Brexit talks have commenced the exchange rate has been very low and this makes it difficult for companies as materials will cost more, brands will either have to reduce costs (eg. find cheaper suppliers) or increase their sales price. Customers may be less likely to purchase products if the pricing goes up as jewellery is classed as a luxury item. Also, if for example the quality of the products is not up to previous standards due to new suppliers, they may not purchase products.

SOCIO-CULTURAL

Store placement-

Before opening stores, the placement is key for jewellery companies because some consider jewellery as a luxury item so may be less likely to make frequent purchases. Countries that have large luxury jewellery markets should be the focus in order to get frequent sales. These countries include: China, Dubai, US and the UK.

Promotion of products-

Around certain seasons, for example Christmas or Valentines Day, campaigns are more focused towards the season they are promoting, and the way the advertise may differ (eg. around Valentines Day they may aim more of the advertisement towards men). Many companies take advantage of jewellery's image as a 'luxury item' because there is generally an influx of sales around special holidays and seasonal holidays.

Trends-

As a competitive industry, there needs to be more unique qualities for jewellery to be successful. However, following the trends is a great way in order to have a constant flow of sales. For example, over the past few years rose gold has increased in popularity alongside silver and gold, and is now a standard metal for companies to sell.

TECHNOLOGICAL

Ease of communication with customers-

Communication is key for building rapport with consumers and to gain information about possible improvements for the business. Many companies are based online as well as having stores, so they have a range of ways in order for customer to brand communication as well as customer to customer communication. These include; help pages on their website, email to a customer care team and regular newsletters, Instagram page, Twitter page and a Facebook page.

Affiliates-

Many companies use affiliates in order to promote jewellery, and they tend to offer them a commission if people purchase products via their affiliate links. Also, affiliates can get access to their "product data feed" and have to promote latest collections and offerings to their audience.

Ad placements-

By placing specific advertisements on customers page, this allows companies to have a one to one relationship. This is a reflection of the strategic plans companies are putting in place. The individual evaluation of their customers will allow them to segment the market so they know who to target their advertising too, and what will make them buy their products over other brands.

ECOLOGICAL

Sourcing of their materials-

Companies who use a variety of gemstones and diamonds in their jewellery will have to make sure that they are ethically sourcing their materials. It would reflect badly on the business if they were sourced unethically and may lead to customers losing trust in the company. In the current state of the world's environment it should be something jewellery companies largely focus on perfecting due to the backlash they could face if

Commitment to sustainability-

They have been awarded the 'Butterfly Mark by Positive Luxury' for their outstanding commitment to sustainability.

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They have created pieces that consumers can instantly associate with the brand.
- This suggests the message they're sending to consumers and their positioning in the market is highly effective.

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Celebrity Friendship Bracelets, Necklaces & Rings | Jewellery by Monica Vinader

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STRENGTHS

'As seen on', promotes jewellery through celebrities wearing it. Some influential figures who have worn MV jewellery include:

- Duchess of Cambridge, Princess Beatrice of York, Gareth Southgate (at the World Cup), Kate Winslet, Sophie Turner,            Bella Hadid and Emma Watson.

It is classed as 'affordable luxury', in production they use silver and gild it into gold ('vermeil'). This reduces the cost overall and means they can offer great quality products but for a lower price than their competitors. This gives them a competitive advantage.

The personal touch- MV offers free engravings on a large majority of products. This transforms pieces into much more personal gifts.

Stackable feature- many of their products including rings and bracelet are designed with the intention of stacking. This creates loyal customers, as the items compliment each other perfectly. It is also keeping up with fashion trends, which keeps the jewellery relevant.

Well known within the luxury market

WEAKNESSES

Despite such growth in the company, many people in the 'mid-range' market aren't aware of

the brand.

OPPORTUNITIES

By expanding into less wealthy areas of the UK (and other countries), they will be able to reach the mid-range market.

Make some of their charitable work more public, this will not only positively impact the brand's reputation but expose the brand to a wider range of people

The brand started off as bespoke so, maybe they could offer a bespoke design service that allows people to create a truly unique piece of jewellery

More promotion for men's products as well as female, because women currently make up a large portion of the brand's turnover

THREATS

External- other companies may copy the style and authenticity of Monica Vinader due to its growth in popularity

Internal- if the popularity of the brand increases past the capabilities of production, they may not have the stock they need to keep up with the demand

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Their market is so broad that they "have 18 year olds and 70 year olds wearing the same pieces" (Bethan Holt, 2018, The Monica effect: how this woman reinvented your jewellery box)

In both the luxury, and mid range jewellery market

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Debuted in 2008

Founder and CEO Monica Vinader began creating bespoke pieces in Norfolk

Jewellery production takes place in India

Creates 'affordable luxury' jewellery pieces

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Monica Vinader is a British jewellery brand that celebrates individuality. Opening up a new category between fashion and fine jewellery; MV is for everyone.

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Monica Vinader's internal branding is very clear and is reflected in their products.

Individuality- #expressyourself campaign, and through the personalisation of products. They have taken it one step further with the release of their
new ALTA Capture charm bracelet (above). Customers can wear whatever combination of charms they choose.

Individual pieces of Jewellery- they offer normal engravings and a design feature which allows you to have handwritten or hand drawn pictures engraved onto your jewellery, making it even more unique.

Each stone is "cut and faceted by hand from rough using contemporary cuts, meaning your piece of Monica Vinader jewellery is entirely unique" (Monica Vinader, 2018)

In store- the employees help create the luxury feel the brand is trying to create. The one to one shopping experience allows employees to suggest complementary products that work with your current collection, into order to create unique combinations of jewellery.

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Monica Vinader has grown massively over the past few years, and now has stores internationally.

2010- First stand alone boutique in Mayfair opens
2014- Flagship boutiques open in Chelsea, London and Hong  Kong
2015- Dubai and Seoul boutiques open
2016- Singapore and New York boutiques open
2017- Nordstrom 'shop in shop' opens

They are also placed in high end stores such as Selfridges London, Liberty and Harrods and stocked online with Net-a-Porter.
They have targeted countries that have a large market for luxury jewellery- this has benefitted them massively.