TURKEY BECOMES THE LEADER OF MOUNTING JEWELLERY CATEGORY
Mountings are one of the most important categories in the global jewellery industry. When precious stones are set into a mounting, it is that mounting’s design, diversity and quality of production that define its marketability. Turkey is one of the world’s most important actors in this categories and due to its design varieties, the ready availability of quantity stocks, and of course, its production and quality, Turkey has left most of its competitors in the mountings category behind.
To understand the magnitude of the mounting market, we need to gauge the size and volume of the global jewellery market. After all, the ‘marriage’ between gemstones - diamonds and coloured gemstones – is what makes a piece of jewellery attractive and saleable, each in its own category and price range.
There is no question that in recent years, the reforms introduced by the government have given the Turkish jewellery industry a boost and enabled it to compete more successfully in the global markets. As a result, the opportunities for mountings manufacturers have improved.
These are some of the reforms that have had a positive impact on Turkey’s jewellery industry.
The Istanbul Precious Stones Exchange
Turkey has long lacked a diamond and coloured gemstone exchange. With the establishment of the Istanbul Precious Stones Exchange, and its membership in the World Federation of Diamond Bourses, Turkish diamond, gem and jewellery companies gained access to the global trading network, on par with bourses in centres such as Antwerp, Dubai, New York and Ramat Gan, Israel. As a result, the volume of transactions and sales are increasing every day.
Private Consumption Tax Zeroed
Members of the Istanbul Precious Stones Exchange are exempt from the Private Consumption Tax.
Foundation of foreign companies is easier
With the changes instituted in the Turkish trade laws, it is now fairly easy for foreigners to establish a company in Turkey. In Kuyumcukent, one of world’s largest gold production complexes, the number of foreign companies has already exceeded 150.
Mustafa Kamar; We have enormous advantages on jewellery montings category.
Whether it is at international jewellery shows in Istanbul, Las Vegas, Vicenza, Dubai or in other countries, Turkish mounting companies are doing brisk business at each fair. Mustafa Kamar, President of the Turkish Jewellery Exporters’ Association (JTR) said that; “Turkey is in a leading position, comparable to that of South Korea, in the manufacturing and marketing of mountings. We are specifically leading the category due to our innovative and desirable designs. And as a result of the industry’s reforms of the past few years, we are well on our way to take the lead in this jewellery category. In addition to the high quality of our products, we also have an advantage when it comes to delivery times due to our very effective and well run management of our inventories and stocks!” Kamar stated.
We are constantly improving ourselves in the national and international markets.
Mustafa Akın, chairman of Sade İş Jewelry, one of the most important Turkish mounting explained the underlying reasons for Turkey’s success in the mountings category,
“There are two different aspects that have had a positive influence on the mounting category in Turkey. First, export reforms have impacted the category positively. At the same time Turkey is a large market with 80 million population which is mainly young. We participate in each show with thousands of pieces. It is not easy to find this kind of a selection in other countries.”
Ömer Faruk Çağlar- Somoro Mounting
Turkey can take full advantage
‘‘We are in a a position that makes us one of the most important gold producers in the world. With this, 30,000 retailers in our national market are also a proof of that. Turkey has become one of the most important countries in mountings. Currently, it’s impossible for you to find a larger ready stock in any other country in the world.”
Turkey has advanced in precious stones category recently
Great advancements are being observed in precious stones category in the Turkish jewelry industry. The structural reforms carried out in recent years and the launch of Istanbul Stock Exchange and Istanbul Gold Exchange by Borsa Istanbul have also contributed to the growth of the precious metals and stones market. Some of the important names of precious stones category in Turkey expressed their views on this subject as follows;
Emil Güzeliş- Zen Diamond
''Turkey makes much of its export by selling gold jewelry. However, especially in recent years, our export of diamond jewelry and mounting has also started to increase significantly. As Turkey's largest diamond jewelry exporter, Zen Diamond, we carry out our exports to countries around the World. The diamond jewelry category in Turkey will continue to evolve.''
Erol Akdemir- Lida Diamond
''Jewelry industry in Turkey continues to grow. We also observe this developments in the categories of precious metals and stones, diamond jewelry and mounting. As Lida Diamond, we are the leading company operating in the precious stone category for many years. The sector needs to be assessed from two angles. Firstly, its 80 million young population makes Turkey an important market. And secondly, due to the increase in women’s participation in business life, level of education, urban population, and advertisements, the demand for diamond jewelry will continue to increase every year. The domestic market has a significant potential. Furthermore, Turkish jewelry industry has a significant production capacity. It is in the leader position of mounting sector in the world. In no other country in the World, finding such a large ready mounting stock is possible. We also took an important path in the precious stone category. A buyer who comes to Istanbul can choose his precious stone from a very large stock, and then selects his mounting materials from the world's largest stock and complete all stages of his diamond jewelry production here. I believe that Turkey also will soon come to an important point in the world’s diamond jewelry category.”
Kerim Güzeliş - Ariş Diamond
''Our country has critical advantages. We were not able to use these because of few legal and tax problems. With the recent reforms done by the government we are now fully able to use our advantages. I believe that we will continue to see this development increase even further.''
Ediz Dereli- Ediz Dereli
''Turkey is now among the major centers in the jewelry industry of the world. We have advantages such as qualified workers, large production capacity, and closeness to markets. With the legal arrangements made in the past years, we are now able to make better use of these advantages. The establishment of Istanbul Stock Exchange and Istanbul Gold Exchange in Istanbul is another important improvement. Although Turkey is prominent with gold, it will become an important center in the area of diamond jewelry too. The development in both our company and our industry proves this situation.”
Atilla Keskin - Altınbaş
''The domestic diamond jewellery market is expanding each day. It keeps the demand high and this helps us to develop ourselves further. We are constantly improving ourselves in the national and international markets. Turkish jewellery industry have soo many critical advantages. Turkey is one of the best producer and exporter of gold jewelry category. I beleive that our industry will be one of the most important one of global jewelry industry on diamond jewelry category too.''
Atilla Anlı- Atilla Karat Jewelry
''Turkey is a region having at least 5000 years of jewelry culture. Throughout history, the most important jewelers of the world have grown in this geography. Our sector, which specializes in gold category, continues to develop in the diamond jewelry category. We are the world's leading country in the mounting category. We are also making progress in the category of precious stones with legal arrangements that we make.’’