Global Jewellers Network (GJN) has been making promising strides in the jewelry industry recently. This international platform was established to bring together retail jewelers and suppliers from around the world to collaborate and network. With a vision to provide members with access to exclusive products, deals, and education, the GJN has been gaining traction in the industry. In this blog post, we'll explore some of the exciting progress that GJN has made so far and take a closer look at what its future holds.
Introduction to the Global Jewellers Network
The Global Jewellers Network (GJN) is an international association of jewelry professionals dedicated to promoting and advancing the jewelry industry. As mentioned in our earlier sections, the GJN has made impressive strides toward its goals, including the recent successful meeting held in England. The network's core mission is to provide its members with a platform for networking, sharing knowledge, and accessing emerging advancements in the jewelry industry.
The group operates with the understanding that the market is continuously evolving, and they must remain adaptable and up-to-date to remain relevant in the global jewelry market. In the spirit of this commitment, the GJN is continually working to create new partnerships and expand its reach. As we move forward in this blog, we will learn more about the ambitious plans for the future of the GJN and the recent news about the three largest independent jewelry buying groups joining forces.
Successful meeting held in England
The recently formed Global Jewellers Network (GJN) has had a successful meeting in England, bringing together three of the world's largest and most prestigious independent jewellery buying groups. The meeting was a significant step forward for the network, with plans for future growth and collaboration discussed. The group reaffirmed its commitment to integrity in the global jewellery supply chain, as well as focusing on promoting innovative thinking and growth in the industry.
With the global jewellery market projected to continue its upward trajectory, the GJN looks set to play an increasingly vital role in shaping its future. The success of this meeting highlights the promising progress being made by the network, and the potential it has to become a dominant force in the industry.
Plans for the future of GJN
The Global Jewellers Network (GJN) has exciting plans for the future. Following their successful in-person meeting in England, the network is determined to further strengthen its position in the global jewelry market. GJN plans to expand its membership and provide more opportunities for independent jewelers to access new markets and resources.
The network is also focused on promoting integrity in the global jewelry supply chain and enhancing consumer confidence in the industry. By working together, GJN members hope to leverage their collective expertise to create a more sustainable and ethical jewelry industry. As the jewelry market continues to grow, GJN aims to be the driving force behind positive change for the industry.
Three largest independent jewellery buying groups join forces
The Global Jewellers Network is formed by three of the world's largest and most prestigious independent jewellery buying groups, the Independent Jewelers Organization, the Company of Master Jewellers, and Nationwide Jewellers. With a combined representation of more than 1,500 independent jewellery stores across nine countries, the collaboration is set to bolster the network's reach and influence in the global jewellery market.
The decision to join forces comes amid increasing demand for integrity in the global jewellery supply chain. The GJN is committed to promoting ethical and sustainable sourcing of gold and diamonds by jewellery and watch brands, which has been scrutinized by a recent report that examined 13 major brands generating over $30 billion in revenue. As the network continues to grow, it holds promise for shaping a more responsible and transparent future for the global jewellery industry.
Global jewelry market size and projected growth
As highlighted in previous sections, the global jewelry market is experiencing promising progress and significant growth. According to recent studies, the jewelry market size is projected to reach USD 518.90 billion by 2030, expanding at a CAGR of 8.5% from 2022. With an increasing demand for jewelry and watches, the future looks bright for the industry, and the Global Jewellers Network is well-positioned to capitalize on this trend.
However, such growth brings with it the need for greater integrity and transparency in the global jewelry supply chain. Fortunately, progress is being made towards this end, and the GJN is committed to ensuring ethical and sustainable practices across the industry. As the jewelry market continues to expand, the GJN and other stakeholders must remain vigilant in promoting responsible practices to ensure long-term success.
Need for integrity in the global jewelry supply chain and progress made
The Global Jewellers Network (GJN) recognizes that there is a pressing need for integrity in the global jewelry supply chain. The slow progress made by the industry in responsible supply chains is concerning for activists who advocate for better human rights and environmental standards. However, there has been some progress made since 2018, with individual companies and industry standard-setting showing improvements.
To preserve the value of jewelry, the supply chain needs to be transparent. GJN, guided by the Ten Principles of the United Nations Global Compact and the 17 SDGs, is committed to taking the lead in ensuring the integrity of the global jewelry supply chain. This involved the creation of the Signet Responsible initiative by Signet. With the three largest independent jewelry buying groups joining forces with GJN, there is promising progress towards achieving sustainability targets in the jewelry industry.
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