The Turkish jewellery industry has established its international reputation as a leading manufacturer of jewellery mountings. Every year, hundreds of thousands of Turkish-made pieces are turning into beautiful, finished jewellery in various ateliers and factories worldwide.
Mountings are one of the most important categories in the global jewellery industry. When diamonds and coloured gemstones 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 mounting category 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 mounting category behind.
Mountings: a huge market
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 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 Türkiye’s jewellery industry.
The Istanbul Precious Stones Exchange
Türkiye 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, Ramat Gan and etc. As a result, the volume of transactions and sales are increasing every day.
Foundation of foreign companies 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.
Dubai tax policy change
The change in tax policies in the United Arab Emirates, increased Türkiye’s chances to become a centre in the global precious metals, diamond and gemstone markets, making Türkiye an attractive hub for foreign companies. The proof in the pudding is the increase in foreign companies operating in Türkiye and the increase in trade with these companies’ home countries.
Burak Yakın: Türkiye is a market leader in mountings
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. Burak Yakın, Chairman of Turkish Jewellery Exporters’ Association said that; “Türkiye 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!”
We are constantly improving
At the same time Türkiye is a large market with 80 million population which is mainly young. 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. We participate in each show with many companies and thousands of pieces. It is not easy to find this kind of a selection in other countries.
When mountings are mentioned, Turkey is the first choice that comes to mind. And this is true all over the world today – Türkiye is now a market leader in mountings. This is especially accepted globally in the last few years. Currently, it’s impossible for you to find a larger ready stock in any other country in the world. Our country has critical advantages. I believe that we will continue to see this development increase even further.”