Events & AwardsJun 07, 2022
5 Things to Know About JCK Las Vegas 2022TechnologyJun 13, 2022
JCK Keynote Guides Attendees Through the Metaverse
Speaker Swan Sit delved into several buzzworthy topics, like blockchain and NFTs.
For the JCK opening keynote, speaker Swan Sit opined on the metaverse.
Las Vegas—The metaverse is arguably the retail buzzword of the year.
JCK’s keynote Friday morning, titled “Web3 is Coming—Navigating the Past, Present, and Future of Retail,” was led by speaker Swan Sit.
Sit is the former global head of digital marketing at Nike, Estée Lauder, and Revlon.
She took a deep dive into hot topics like Web3, blockchain, and NFTs, but centered the conversation around using these tools to build a community and creating brand loyalty.
“Web1 was ‘go look at the dot-com site.’ Web2 was social, where you can look and comment back. But Web3 is a collaborative conversation we’re moving into,” she said.
Looking to explain a complex topic in a more accessible way, Sit shared several anecdotes throughout this session, but one about her work with beauty brand Elizabeth Arden was a standout.
Unlike on-trend beauty brands—think Glossier and Charlotte Tilbury—Elizabeth Arden was a brand one could find on their grandmother’s vanity.
Turning it cool and Insta-worthy was a tall order and Sit said she put her career on the line by taking some risks to make the brand more relevant.
As it turns out, Elizabeth Arden’s founder and namesake was ahead of her time in some respects. She was a women’s right activist and marched with the suffragettes. She created a “Victory Red” lipstick in the 1940s for women in the military. She was also the first woman to be featured on the cover of Time magazine.
Arden died in 1966 but Sit brought her back to life in a digital form, revamping the brand’s Instagram to show posts from Arden’s first-person perspective, as if she were alive today.
She recruited “friends” for Elizabeth Arden, like comedian Chelsea Handler and fashion icon Iris Apfel.
Sit’s risk paid off, with Elizabeth Arden posting growth for ten consecutive quarters following the campaign. The brand was later bought by Revlon.
Elizabeth Arden’s products were always present in the campaign’s photos and videos, but they were secondary to the conversations between “Liz” and her friends.
“If we’re lucky enough to build a community that grows, treating them like a community and not followers is a really massive difference,” said Sit. “It’s becoming a two-way street.”
The point of the campaign wasn’t to push product, but to connect to the audience using a digital medium. The opportunities to do that will likely only increase as metaverse technology continues to flourish.
Sit reminded the audience that while the term “metaverse” is new, the idea of a digital world a user can walk around in is as old as video games.
She recalled explaining the metaverse and what an avatar is to an older man at a social event. The conversation ended in embarrassment when he cut her off to say he knew exactly what an avatar was, because he was the creator of the popular game “Second Life,” which uses avatars to take players through a digital world.
Tech terms can throw non-tech-savvy people for a loop, however.
While the jewelry world may have a knack for marketing, said Sit, the tech industry isn’t as good at coming up with catchy terms to describe concepts like non-fungible tokens, or NFTs.
She explained NFTs as “a unique record on blockchain.”
Even those who understand what an NFT is can have trouble wrapping their heads around the value prospect, though. An example is the Bored Ape Yacht Club, an NFT collection built on the Ethereum blockchain. It features pictures of cartoon apes, and they sell for millions of dollars.
“How could a jpeg be worth millions of dollars?” she posed to the audience.
Then she asked those in attendance to open the camera roll on their phones and hold up a favorite photo.
Now, she said, imagine all of those photos, images of friends, family, pets, vacations, etc., just disappeared, and how upsetting that would be.
Non-tangible, digital-only images can hold enormous value, she concluded.
Sit also discussed the opportunities available to the jewelry industry through these tech innovations, especially blockchain.
Authenticating luxury goods and following antique and estate jewelry from owner to owner were two interesting possibilities mentioned.
JCK offered another metaverse-focused session later that afternoon.
Oliver Maroney, general manager of Web3 and NFTs at Cameo, led a session titled “Relevance—NFTs & Web3.”
More on Technology
The Latest
ColumnistsJan 21, 2025
Peter Smith: Sales Training’s Dirty Little SecretPeter Smith pulls back the curtain on the often misinterpreted, and sometimes maligned, world of sales training.
TrendsJan 21, 2025
Amanda’s Style File: Decadent Mocha MoussePantone’s 2025 Color of the Year takes the form of jewelry through gemstones and enamel that look just as delicious as mocha mousse.
Policies & IssuesJan 21, 2025
These Designers and Retailers Are Raising Money for LA Wildfire Relief From raffles to auctions to donations, the industry is working to aid charities in Los Angeles amid the raging wildfires.
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
SourcingJan 21, 2025
Diamonds Do Good Adds 2 Board MembersJulia Hackman Chafé and Monica Elias have joined the organization’s board of directors.
Weekly QuizJan 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsJan 17, 2025
Richemont’s Jewelry Sales Rise 14% in Holiday QuarterThe company, which owns Cartier and Van Cleef & Arpels, had a record Q3, with sales topping $6 billion.
CollectionsJan 17, 2025
Piece of the Week: Picchiotti’s Transformable ‘Classic Blue and Green’ NecklaceThe necklace features a sapphire drop weighing more than 9 carats that detaches to transform into a ring.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
MajorsJan 17, 2025
Tiffany & Co., CFDA Name First Winner of Jewelry Designer AwardJameel Mohammed, founder of Afrofuturist brand Khiry, will receive a cash prize and a one-year paid fellowship with Tiffany & Co.
IndependentsJan 16, 2025
Lux Bond & Green to Open Sixth LocationThe 127-year-old jeweler is planning to open a new store in Mystic, Connecticut.
WatchesJan 16, 2025
Timex Launches Collection of National Park WatchesThe watches’ dials feature artwork celebrating the vibrant energy and unique landscapes of six of America’s national parks.
AuctionsJan 16, 2025
Elizabeth Taylor’s Diamond Line Bracelet Going up for Auction Offered by U.K. auction house Woolley & Wallis, the yellow diamond bracelet was a gift from Taylor’s good friend Michael Jackson.
Events & AwardsJan 16, 2025
JCK Las Vegas 2025 Open for RegistrationThe jewelry trade show returns to The Venetian Expo and The Venetian Resort in Las Vegas from June 6 to 9.
EditorsJan 15, 2025
The Jewelry I’d Bid On in Christie’s Iris Apfel AuctionAssociate Editor Natalie Francisco highlights her favorite fashion jewelry pieces from the upcoming “Unapologetically Iris” auction.
MajorsJan 15, 2025
Macy’s to Close 66 Stores as Part of Turnaround StrategyThe closures are part of the retailer’s plan to close 150 locations over a three-year period.
Policies & IssuesJan 15, 2025
JVC Debuts Guide to Americans with Disabilities Act ComplianceThe online guide is available for free and written with the jewelry industry in mind.
Events & AwardsJan 15, 2025
Jose Hess Design Awards Open for SubmissionsThe awards honor the late Jose Hess, a founding member of AJDC and an award-winning jewelry designer.
GradingJan 14, 2025
GIA CEO, President Susan Jacques to Retire at the End of 2025The grading lab said the search for her successor is underway.
ColumnistsJan 14, 2025
Jules Kim: Building Bridges Between Creators and IndustryIn this special op-ed, designer Jules Kim calls on big brands to collaborate with independent creators instead of copying their designs.
GradingJan 14, 2025
Former SSEF Director Henry A. Hänni DiesA pioneering figure in gemology, he is remembered for his spirit of generosity, curiosity, and joy.
FinancialsJan 14, 2025
Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall ShortThe peak selling days leading up to Christmas did not meet the jewelry retailer’s expectations.
MajorsJan 14, 2025
Edouard Schneider Joins Messika as Chief Brand OfficerSchneider brings over 20 years of luxury and fashion industry experience to his role as a key member of the brand’s global leadership team.
SourcingJan 13, 2025
Zambia Reinstates 15% Export Duty on Precious Gemstones, Shocking GemfieldsGemfields said the Zambian government revoked the 2019 suspension of the tax with no warning.
Policies & IssuesJan 13, 2025
Brandee Dallow Elected President of Ethical MetalsmithsThe executive brings more than two decades of industry experience to the role.
IndependentsJan 13, 2025
The Seven Pops Up in Palm BeachThe New York City-based retailer is bringing its curation of jewels to a pop-up shop at Love Binetti in Palm Beach, Florida.
Policies & IssuesJan 10, 2025
Jewelers Relief Fund Reopened to Aid Victims of LA Fires Created by JA and DCA, the fund is collecting money for jewelry businesses damaged by the wildfires in Los Angeles County.
TrendsJan 10, 2025
Piece of the Week: Elsa Jin’s ‘Mozi’ BroochAdrien Brody received his first Golden Globe while wearing the “Mozi” brooch, which depicts a spill of traditional Chinese calligraphy ink.
