Rising popularity of gold and falling silver hallmarking figures have not negatively affected branded silver sales, according to experts in the industry.
Latest hallmarking figures this year show silver hallmarking to be down 9% from January 2015, and 6.9% down in February. But leading players in the industry remain bullish about the market.
Steve Bennett, chief executive of Gemporia, said the company has not experienced a negative effect from gold’s popularity.
“Silver jewellery has proven to be more popular year-on-year, with our sales showing quadruple the amount of silver pieces purchased compared to gold,” he told Professional Jeweller.
Thomas Sabo’s managing director for the UK and Ireland, Jon Crossic, also reported positive demand, saying the brand was pleased with the level of orders it is seeing: “We have seen an excellent year-on-year increase in sales of our sterling silver collections, in both our own retail stores and with wholesale partners as well.”
Creative director at Kit Heath, Katie Nickell, believes that branded silver will continue to hold its own. “Sterling silver continues to strive in the market, and although gold and rose gold plate have been prominent in past and present collections, sterling silver designs have risen to the forefront,” she commented.
Read our special report on the branded silver market in the forthcoming issue of Professional Jeweller.