Coloured gemstone producer Gemfields appears poised to dominate the ruby market and its red ambition is not without merit. Ian Harebottle, CEO of Gemfields, sees a rosy future for the Mozambique ruby, saying that he expects this gemstone “to at least meet, if not exceed, the success we have thus far achieved with emeralds.”
“Emeralds will always be our foundation, but they provided us with a great deal of experience, which we are now able to apply to rubies, and hopefully, a number of other gems in the future,” Harebottle said.
“This has provided added impetus and momentum for the rubies, as well as the fact that rubies are so extremely rare and there is no other known ruby deposit in the world that is as significant as ours is right now; both in terms of the potential volume and quality of production. The wonder of this mine’s product is already seducing even the most sceptical of gemmologists, and gem and jewellery lovers.”
Gemfields is already laying down the groundwork for its Mozambique ruby campaign in Asia. China, where the colour red holds a special place, is potentially a lucrative market for this gemstone. Expect Gemfields to be highly visible at trade fairs in Hong Kong, Beijing and Bangkok this year, Harebottle said.
“We are working with a highly regarded PR company in China, Reuter PR, who is helping us manage and focus some of our core initiatives in this market. Some of these will include jewellery collaborations with high-end designers, various promotional events, ruby master-class training for retail sales staff and key media people, further supported by targeted consumer advertising,” Harebottle said.
“We are also working with various government departments on a number of key issues including import duties, skills development, distribution, improved technical competencies with regards to certification, expanded retail sales and consumer education. While much is still to be done, the positive response we have received from each of these sectors to date has been quite incredible. The potential for coloured gemstones in China is huge and will result in a step-change on a global basis as and when fully delivered.”