Caroline Zingg, managing director of the wholesale cultured pearl specialist Devino, explains how impeccable service and high quality products remain the benchmark for success in the industry.
As a leader in your business, what is the single most important value you want to pass to your customers?
We strive to have the best quality and value pearls for money. More importantly, we aim to provide our customers with quality service. This is supported by understanding the clients’ needs and being able to offer the right product for the clients personalised specifications.
Devino has adapted to the evolving industry landscape by focusing on individualised orders and offering high quality products.
What risks did you take this last year? Why? And did they work in your favour?
There have been a lot of changes in the pearl industry recently including less production, increased worldwide demand and a large price increase, particularly with better quality pearls. We decided to focus our product range with better quality, harder to find, unique pearls. One of our strengths is working with customers to create custom orders which has been very successful.
Caroline explains that the expectations at Devino run parallel with their mission and present as ongoing and continual business processes.
Has the mission and vision for your company changed at all in the last year?
Devino aims to provide the highest quality products by meeting customer expectations in value and service and we continue to work towards this. Providing product knowledge is another essential factor we believe will help customers sell pearls.
Into the new year, the uncertain economic conditions remain an understandable concern and Caroline expects the way forward in the industry is through awareness and managing expectations.
What do you anticipate the challenges of 2023 will be for the industry?
The changes in demand, production and prices in the pearl industry will create a challenge for 2023 which is why it is important for customers to be aware of this and how it will affect their business. It is now extremely difficult to obtain stock at old prices due to the extraordinary demand of the Chinese market on pearls in all qualities.
Following trends begun during the pandemic, Caroline is positive that the pivot to local businesses will continue. Devino are committed to providing their customers with unique and exclusive products.
What are you looking forward to in 2023?
Although consumers have been using the internet more in the last few years for purchases, better quality and more exclusive items are still sourced through local jewellers. People need to see and feel pearls. We look forward to assisting our customers in every way we can.
Fortunately, recent consumer tastes and trends have strengthened the pearl industry and Caroline has seen this in consumer demand.
How do you think the Australian consumer has changed over the last year?
Consumers have become more educated and are seeking to buy jewellery that is more sustainable and environmentally friendly. Pearls are the perfect gemstone to fit that request as they are one of the most sustainable gems in the world, requiring pristine clean waters in order for the oysters to survive.
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