The sole importer of Fairtrade gold into the UK jewellery market, Cred, has reported strong year-on-year increases for sales and demand of the precious metal.
In total, UK Fairtrade gold sales jumped 332% in 2015 against 2014, confirming increasing demand from jewellery designers and retailers wishing to provide Fairtrade gold jewellery for their customers.
Reflecting this, Cred reports that full-year UK demand for Fairtrade gold increased to 50kg, climbing 35kgs against 2014’s figure of 15kg.
With the average gold wedding ring weighing 3 grams, the total of 50kg of Fairtrade gold could produce 16,600 wedding rings – promising figures for the UK market as consumers show increasing interest in their provenance of their fine and bridal jewellery.
Cred managing director Alan Frampton said of the figures: “There is growing awareness of Fairtrade gold across the world, with customers wanting to know where the gold in their wedding ring or jewellery has come from. Cred are developing Fairtrade gold markets in Europe and the USA, and we expect sales in 2016 to be strong. The availability of Fairtrade gold is climbing all the time, and this year global supply will exceed 1,000kgs for the first time.”
Cred supplies the UK jewellery industry with Fairtrade gold due to its expertise building relationships with miners in South America and Africa, to be cast or handcrafted into fine jewellery or wedding and engagement rings.
It is also manufactures its own bridal and fine jewellery collections in Fairtrade gold and silver under the name Cred Jewellery, with a London-based studio where clients can view its bridal collections in full or discuss bespoke creations in Fairtrade gold.