Birmingham’s historic jewellery industry could be set for a golden age – boosted by same-sex marriages – according to the city’s new Assay Master.
Industry veteran Stella Layton, who has become the first woman in the role’s 240-year history, said civil ceremonies and a new vogue for gold has presented a boost for a manufacturing sector hit heavily by competition from India and China.
However, she said the focus will continue to be on diversification at Birmingham Assay Office, which has moved into new markets over the past two decades amid falling jewellery-making.
Mrs Layton will oversee an historic move for the Assay Office founded by legendary industrialist Matthew Boulton. Work starts on its new Pope Street home in April.
She is a well-known face in the city’s precious metal industry after a 26-year career that saw her rise to the position of global divisional director at Cookson Precious Metals.
Mrs Layton said same-sex marriage legislation – which comes into force this month – represents an opportunity for city manufacturers.
She explained: “Because we have got gay couples getting married as well, it is generating more demand in the market – and bridal wear is more likely to be made in the 海角视频.
“An awful lot of men leave it to the last two weeks – by which time they can’t get it back from China in time.”
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She added: “Over the last 10 years there has been a paradigm shift – because of the high prices it has been about selling rather than buying gold.
“The prices are starting to drop now, which brings the price of jewellery lower for the common man, and means it is easier to sell.
“The fashion is also going more towards yellow gold.
“The biggest challenge for the jewellery industry is stopping people from wanting to spend their money on iPads and so on, rather than jewellery.”
Mrs Layton, who is also a non-executive director of Birmingham Women’s Hospital, headed up an international team of 1,100 people at Cookson.
She said the sector has seen tough times, but innovations like 3D printing offer new opportunities to manufacturers.
Speaking of her 26 years at Cookson, she said: “Over that time I had to change the shape of the business because jewellery manufacturing moved off shore. The volume of business changed, just like the Assay Office, so you have to look for other opportunities.”
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She added: “We still have a manufacturing operation that continues to make jewellery today. We have got the designers and the manufacturing industry, and some new technology like computer-aided design and 3D printing offers a major opportunity for the resurgence of manufacturing.”
The Assay Office has undergone radical changes in the last 15 years under the stewardship of outgoing Assay Master Michael Allchin, who is retiring.
The Newhall Street operation, which employs 100 people, has started to work with precious jewels, and work directly with the public to identify and value products.
Mrs Layton said that focus on diversification would continue under her watch.
She said: “It still lives and dies by that act of Parliament. We are a hallmarking and verifying business. Over the last 20 years the number of items hallmarked in the 海角视频 has reduced considerably so it is responsible to ensure that income streams continue to support that activity.
“It is all about diversification – using the competencies of the Assay Office to get into other business – so we focus on consumer protection and verifying things are what they say they are.”
She added: “Our other offer is laboratory services. People always need it verifying that gold is gold, and now we can do that for nickel and lead, and support all the legislative changes like toy directives.”
Meanwhile, the relocation to a newly-built Assay Office is moving apace, with work set to begin in April, and complete in autumn 2015.
Mrs Layton, who is originally from Dudley but now lives in Stourbridge, revealed it would mean a heavy fall in red tape for the operation. Currently if stock is moved from one floor to another it creates a paperwork headache as it has to be documented
“This is a beautiful building, but in terms of lean engineering it is impossible to do here,” she said.
“The move will take out a lot of inefficiencies. At the moment we have got to move from floor-to-floor, and document that move each time, and we will lose a lot of that.
“It will also be a lot more friendly for our customers to visit the centre and park.”
The Birmingham Assay Office is one of the four remaining assay offices in the United Kingdom.
Boulton pushed for its creation, bringing about an Act of Parliament in March 1773, giving it the right to assay silver.
Mrs Layton becomes only the 13th Assay Master.
She added: “I think it is sad that I am the first female in the role, and I felt the same when I became the first female chair of the British Jewellers’ Association. It is a shame that it has taken until now.
“But I have been running a manufacturing operation and I got used to being the only woman at industry events, but it shouldn’t be like that.
“The interesting thing in this trade is buyers are female-dominated.”