Every year International Women’s Day is held on 8 March to commemorate the economic, political and social achievements of women worldwide. This year focuses on equal rights, equal opportunities: progress for all. In the by and large male-dominated gems and jewellery industry, where is the woman worker positioned? Diamond World interacts with some of the women who are successful leaders in their own right on their experiences in the precious industry…

Varda Shine

Managing Director, Diamond Trading Company Varda Shine took up a job with Diamdel while waiting for her medical studies at the Tel Aviv University to start. The rest is history. More than twenty years later she now heads the world’s largest rough diamond sales and distribution company – The Diamond Trading Company (DTC). Like her first day at Diamdel, she still gets excited by every diamond she comes across. Learning new lessons everyday during her career span, she feels that one of the key lessons is that the only thing constant is change and one has to understand the meaning of ‘The New Normal’. She believes that one’s success is heavily dependant on one’s ability to attract and retain the right people and lead them through an ever-changing environment. While being candid about not easily accepted as a woman in a male dominated industry always, she asserts there have been some male colleagues who have offered her great advice and assistance.

When not making crucial business decisions, she loves spending time with her friends and family, going to the Opera, walking and watching old movies. Inspired by her family and friends, she owes her success in no small part to them all. She is married and stays in London with her son.

Facing Challenges:
“I cannot pretend that it was always easy trying to be successful in the industry as a woman. I think that believing in my own capabilities, remaining true to who I am and refusing to give up has helped me overcome the hurdles that I have encountered along the way. It is worth remembering that ultimately 80 per cent of the consumers who buy and own diamond jewellery are women and as a woman, I have the insights to understand that consumer demand – even though it probably took the industry a while to accept this.”

Decisions influencing the industry:
“Among the major decisions in my career, which had the biggest influence on the industry were those around how to establish sustainable benefication activities in diamond producing countries. We needed a sharp focus on how to develop downstream activities and how to transfer a different set of skills to various producing countries and I am extremely proud of the success we and our partners had with this.”

“Regarding the toughest decisions I have had to make, among these would be when I have had to look at reducing the headcount in the company and let good people go because of the requirement of the business. It is always very difficult to see capable, good, loyal people leave after long periods of service and having contributed a lot to the company. But I have to look at the needs of the company and the realities of the market and unfortunately sometimes these decisions are necessary.”

“However, I am proud of what I have achieved and I believe I have made the right decisions for the right reasons, even if many of them were far from easy.”

Women in the industry:
“The diamond industry has moved from being a fairly ‘opaque’ business to a much more open and transparent one. We have all looked to create more of an open environment and this has allowed us to learn from other industries to see how we could improve the diamond business; this in turn created a lot more opportunities for women. As the industry has changed, we have seen more and more women entering the industry as diamond jewellery designers, marketing and finance professionals, polished diamond dealers and we are now even seeing more women working on the rough diamond side of the business. We still have some way to go as an industry in terms of providing opportunities for women. But there have certainly been some significant strides during my time.”

Plans for 2010 :
“While we plan to increase production over 2009 levels, we do not expect to approach our historic highs for the foreseeable future and like any producer, we are focused on profitable production that is in line with demand for our product from our clients. As we emerge from one of the most volatile trading periods in recent decades, we are working to ensure our clients have a sustainable level of supply in the light of their prevailing demand. One of the biggest areas in focus for us in 2010 will be about our partnerships – both upstream and downstream. The De Beers business has always been built on the foundations of partnership and we are excited about continuing to strengthen these in the months and years ahead.”

Achievements :
“I have participated in business and management courses at Templeton College, Oxford University; Cranfield University School of Management, UK; and INSEAD, France. On 23 November 2008, on the occasion of the 70th anniversary of the Israeli Diamond Exchange (IDE), I was awarded an Honorary Lifetime Membership of the exchange – the first women in their history to receive this prestigious title. I also serve on board of the Diamond Empowerment Fund (DEF) in my capacity as MD of DTC and representative of the De Beers Family of Companies. The fund’s mission is to raise money to support education initiatives that develop and empower economically disadvantaged people in African nations where diamonds are a natural resource. I also serve as the Chairperson of Diamond Trading Company Botswana (DTCB) and Namibia Diamond Trading Company (NDTC), both of which are joint ventures with the governments of the respective countries.”

President , CEO & General Counsel, Jewelers Vigilance Committee
During her college days, Cecilia Gardner was interested in a career in law. At that time, the gems industry was far from her mind. She entered the field in order to have the chance to run an association dedicated to legal compliance in an industry that was very interesting. Not knowing anything about the industry, she had to learn about topics that she would have to address soon as she entered the industry. Currently she is the President, CEO and General Counsel of the Jewelers Vigilance Committee (JVC), a not-for-profit trade association dedicated to compliance with laws pertaining to the jewellery industry.

Her hobbies include enjoying the theatre, opera, and looking at art. She attributes her interest in beautiful music and art to her involvement in the beautiful objects that are displayed in the industry. She has two children – a sophomore at the University of Southern California and a rising freshman at Colgate University. Her husband is an attorney working for the State of New York.

Overcoming Challenges:
“My first days in the industry were busy with accomplishing a very steep learning curve. I knew nothing and had a lot to learn! There were also very “hot” topics for me to address as soon as I entered the industry – the new HP/Ht treatment to diamonds (and whether or not the treatment must be disclosed) and conflict diamonds. These two issues were raised within the first year of my employment by the JVC.

“The main obstacle to my work at the outset was recovering the reputation of the JVC. Through hard work and reminding the industry of the value of the JVC – the goal has been achieved.”

Decisions influencing the industry:
“My work with the World Diamond Council on the Kimberley Process has been among my biggest challenges and the most rewarding, since establishing a system to ensure the supply chain of diamonds ensures that the millions who work to bring this product to market will continue to be employed. Diamonds do a lot of good in this world – and the continued health of the industry needs to be assured. Also – the JVC is a valuable and important association in the industry – through my work there I have been able to help numerous persons in the disputes and problems that are a daily challenge to small business.”

Women in the industry :
“The men who have been my mentors at the JVC have been supportive of me. That being said, there is still a need for women in the jewellery industry to assert their value to the industry and more women need to take leadership positions. I mean take those positions. They will not have the positions gifted to them.”

Achievements:
“I have won awards from Womens Jewelry Association, Consolidated Jewelers and AGS. I also hold position of General Counsel to the World Diamond Council, and a member of the Board of Directors of the Women’s Jewelry Association as well as the Jewelers Charity Fund for Children. I also serve as General Counsel and Director of the United States Kimberley Process Authority Institute.”

Managing Director, Gemological Institute of America, India & Mideast region
Having a fascination for the defence forces from a young age, Nirupa Bhatt joined the National Cadet Corps (NCC) in college and worked her way to become the Senior Under Officer. She represented 1 Maharashtra Girls Battallion at the Republic Day Parade in Delhi and has been awarded the “Best Shot” in the All India Rifle Shooting Competition. Her heart broke when she was told that women could not join armed forces. After a short stint as a teacher, she entered the world of sales and marketing. Her first job in the gems and jewellery industry was as Market Intelligence Officer for Argyle with the responsibility of understanding the value chain and establishing networks to help stakeholders recognize the value of Argyle rough. Currently, she is the Managing Director of GIA India and Middle East – a post she has been holding since 2008. She believes that it is important to know the art of entrepreneurship as well team work and role of leadership in a tough environment. But the most important lesson is to remain focused and not give up.

Her hobbies include music and movies. Her family comprising her husband and son are the pillars of her strength. She owes to her mother the courage and determination to establish her own identity. The early stages of her career were inspired by Author Ayn Rand whose books Atlas Shrugged and Fountainhead Nirupa Bhatt rate as her favourites.

Overcoming Challenges :
“Family run organisations are the norm in the global diamond industry. Knowledge of the industry is passed on by generations and being part of a family means there is an intrinsic trust. The industry is also a very close-knit group. My first step was to gain trust and respect. This proved to be a challenge. I was fortunate to receive guidance and direction from some senior industry members. They were generous in sharing their knowledge and for me it was an inside perspective. I owe my success to all of them.”

Decisions influencing the industry :
“I have been fortunate to be able to contribute to the industry in many ways. My approach was to partner with the industry in its growth, rather than facilitate its “sell” to customers. This was a major difference and I could practice this philosophy because the senior management at Argyle/Rio Tinto supported it. First in the initial stages, we organized technical training in factories in small towns and villages. This helped upgrade the industry and made a significant difference in the quality of the product that companies were able to offer. As we moved forward, I was able to work with the diamond jewellery manufacturers through the Indo-Argyle Diamond Council, to help individual companies tailor their marketing to suit U.S. markets. I was also involved in helping U.S. companies gain an insight into the Indian businesses. This bridge building, as it came from a third party, helped to shorten the pipe line between Indian diamantaires and U.S. buyers. Finally, the Business Excellence Model was a tool for growth and marketing in the U.S. market. The BEM made it possible for Indian manufacturers to demonstrate their effective use of systems and processes to manufacture and supply jewellery of consistent quality that was manufactured in an environment-friendly workplace.”

“Regarding my toughest decision, I think the question of either closing the Argyle mine or going deeper was the greatest challenge the Senior Management faced. On one hand, the organization had to decide what was good for the company, of which I was a part, and on the other, what was good for the industry, which I was also a part of. I understood the consequences of the decision either way, which gave me a very unique perspective.”

Women in the industry:
“The industry has become increasingly more competitive. Jewellery manufacturing and retailing are the new growth opportunities. I have met women in different areas of this industry including designing, marketing and finance, among other things. Families are encouraging their daughters and wives to give them the helping hand. I have also seen a rise in small businesses owned by women that manufacture custom-made jewellery. There is a significant potential to grow this segment of the market. I am in the process of establishing an Indian Chapter of the Women’s Jewellery Association (WJA) in India. WJA is a non-profit organization headquartered in the U.S. Its objective is to provide a networking platform to professionals and business owners in the industry. I hope to launch it in next few months.”

Plans for 2010 :
“We will reach out to more than 15 locations in India with GIA’s world class education. We are also studying needs of the market and developing classes to help them grow. Our “Skill Building Seminars,” introduced in 2009, are a great success. We will continue to add to the product portfolio, including short-term design classes, merchandising sessions and colored stone grading. We will also work with retailers to present seminars to their customers on how to buy diamond jewellery. We want to help retailers reach out to consumers to increase their confidence in diamonds and diamond jewellery.”

Achievements :
“I have won the “Doyenne of the Year” award from the U.S.-“based Indian Diamond and Colorstone Association (IDCA) in Las Vegas in 2002; “Eminent Personality of the Year” award from The Gem & Jewellery Export Promotion Council in 2003; “Award for Excellence” from the U.S. based Women’s Jewelry Association (WJA) under the category of Special Services & Education in 2005 in NYC in 2005; Recognized by the Gem & Jewellery Export Promotion Council (GJEPC) at the 34th annual awards ceremony for distinguished service to the gems and jewellery industry. I have contributed articles to trade magazines e.g. importance of education, marketing etc."

Manager- India, Platinum Guild International (PGI)
Vaishalli Banerjee started her career in advertising which began as an accounts executive in an accounts management and ad agency in Kolkata. From there she travelled to Delhi, Bangalore and finally to JWT, Mumbai. Through the journey, life improved and finally culminated in advertising as a client services director for a part of the Uni Lever business in India and the Middle East region. During her tenure at JWT, she met James Courage, the CEO of Platinum Guild International. The rest is history. Hired to set up the PGI Indian Operation, her first day was filled with a multitude of emotions … excitement, apprehensiveness, a bit bewilderment. She had to learn about the jewellery category, the consumer and the dynamics of this market,. She attributes that this learning helped her making all decisions through the years. Albeit the industry being male dominated, she says that her male peers have been supportive, helpful and quite professional then and now.

Her family includes her sister and mom. Her hobbies include reading, watching movies, theatre and music. She also loves holidays in offbeat places like Morocco. And last but not the least, if she was not in the jewellery industry today, she might have been a travel writer!

Overcoming challenges :
The task was to build a new category at the premium end in a very developed and mature jewellery market. There were numerous challenges that one had to overcome. And, it’s not over, because our journey is still in early stages, that makes this assignment more interesting and rewarding.

Decisions influencing the industry :
“There were many tough decisions. But, perhaps the toughest one was when we decided to focus the program to the southern markets for a while. Having launched initially with the intent of being a national category brand, this seemed quite a risk. It also meant managing expectations of all stakeholders. The challenge was really about having an unflinching belief that this decision would be right, it was just so easy to yoyo. One almost had to take a deep breath and take the plunge.”

Women in the industry :
“The industry has changed in many ways. The biggest change I see is that the industry has come together as one, much more than before. The industry is very large and highly fragmented and therefore this unity is a welcome change. Specifically in regard to women in the industry, while I see more women today than before, we need many more women to be an active part of this industry; especially engaging in decision-making. I believe they can bring in a lot of value.”

Plans for 2010 :
“We have launched a national marketing program in September/October 2009 to add momentum to the development of the platinum jewellery market here. We will continuously track progress, take learning on board and fine-tune our strategies of 2010 towards a robust and effective national program.”

Achievements:
“There have been many through school and college. In my working life, the awards that have won by me have been for the brands I have worked on.”

Swati Mehta

Elite Jewels, Antwerp
After graduating from college in Antwerp, Swati Mehta had a choice – either to be a homemaker or interacting with people with business in mind. She chose the latter. Her first inclination was towards haute couture branded clothes. However, with support and guidance from her husband and other family members she entered the jewellery sector. After 15 years today her company has grown from being a small goldsmith company to a company with an annual turnover of close to 10 million dollars. Her father is the living image of her beliefs.

Her hobbies include playing badminton, reading, travelling. However, she loves to spend most of her time in bonding with her two daughters.

Picking up the ropes:
“My husband always told me to go into a product line that reinforces his diamond business and to go where there is always an intrinsic value. So to get it going, I looked around for all the ingredients to make a jewellery business a successful one. I had to know the goldsmith’s job in and out so I decided to go to Italy, the Mecca of jewellery. I stayed in Florence for six months learning to design, cast and set. In the process, I mastered the Italian language and that resulted to become my strength and the backbone of my business. Going to Italy and speaking their language has helped me to get in touch with the smallest of artisan in the tiniest village and in consequence get the best value.”

Women in the industry:
“The jewellery industry is still a very male dominated industry. But there is a place for a woman if she can exude confidence. I think women have proved themselves beyond a shadow of doubt that they are as capable and as confident in delivering results. Women not only can make a point but they can also do the work, however, meticulous and hard it may be.”

Achievements:
“My whole philosophy is based on giving the clients as much value for their money as I possibly can. Based on this thinking, my company Elite Jewels has grown from being a small goldsmith company fifteen years ago to a company with an annual turnover of close to 10 million dollars now. We are now one of the only few wholesaler and distributor of jewellery that cater from Antwerp to Belgium, Luxembourg, France and Germany. Recently my company has also developed Indian clientele. We have started a flagship shop at the Oberoi in Mumbai and have successfully made inroads into two tier cities. Furthermore with the introduction of the traditional jewellery or jadau we are surprisingly getting good response wherever we go!”