_The growing trend for natural and sustainable jewellery

Paspaley is Australia’s largest and oldest pearling company. How did it all begin? 

My family fled the Greek island of Kastellorizo as refugees during WWI. Our grandfather, Nicholas Paspaley Senior, was five years old at the time.

Upon arriving in Australia, the family settled at their ship’s first port of call, Cossack on the coast of Western Australia. Being a good young Greek boy, my grandfather went to sea to earn money for his family. It was there and then that his love for the ocean and passion for pearling began. By the age of 18, my grandfather was the captain of his own pearling lugger. In 1935, my grandfather moved the fleet to Darwin and founded the Paspaley Pearling company.

Due to their superior quality, Paspaley’s pearls have become a category of their own. How do they perform as a long-term investment?

Paspaley is one of the last remaining companies still diving for wild Pinctada maxima oysters. We have become known for the largest and most valuable pearls in the world, accounting for less than 0.1% of global pearl production by weight, but over 20% by value. Australia’s pearl production is regulated by a government-enforced quota system, which ensures our pearls will always maintain their rarity.

Our pearls have been increasing steadily in value for the last 12 years. Even during the disruptive year of 2020, pearl prices didn’t fall. In fact, we witnessed three pieces of Paspaley jewellery sell at auction in 2020 for more than their retail value.

For me, Paspaley jewellery is like art. Paspaley designs are modern yet timeless, and like art it is not only the raw materials which determine the value, but also the unique design.

With the significant rise in wealth across the Asia-Pacific region, how has this affected the types and style of jewellery that you create?

Our design philosophy has always been led by four guiding principles; innovative design, exceptional craftsmanship, playful versatility, and pearl led design.

These principles characterise our unique design DNA, which we have found resonates with clients from all over the world.

Tastes and fashion are always fluid, but are there any trends you are seeing now?

In recent years we have seen a strong desire for natural and sustainable products. We have such an authentic connection to nature at Paspaley, and sustainability is really at the heart of what we do. Our pearl and mother-of-pearl jewellery naturally align with this trend, and we also source sustainable materials for our designs including our range of renewable sandalwood pieces in our Kimberley Collection.

Leading in to 2020 we were seeing a trend towards very fine jewellery, but we have noted a shift towards bolder pieces in the past 12 months. Times have changed and we’re finding many customers are looking for an opportunity to make a statement with a bold jewellery design. Pearl jewellery for men is another exciting trend we have seen gaining momentum this year. It is becoming more prominent in men’s magazines and on male celebrities. We have also found our male customer base is growing, particularly since the launch of our Kimberley and Silk bracelet ranges.

A lot is made of the changing attitudes of younger generations, particularly with the transfer of generational wealth. Is this something you’ve experienced at Paspaley, and, if so, how has that been reflected in your jewellery?

It has long been our ambition to break down the traditional notions of pearls being for older generations. We try to appeal to women of all ages by creating versatile designs, with adaptable elements allowing the customer to create their own unique look. An example of this is our Pearls My Way earrings. Our customers can select their favourite pearls from an array of shapes, sizes and colours then choose from a range of hooks to create a one-of-a-kind design.

Ultra-high-net-worth individuals are increasingly interested in sustainability and philanthropy. Can you share how Paspaley is making a difference in this space?

When my grandfather arrived in Australia as a refugee with little but the shirt on his back, he was met with the kindness and support of the local community. We are now in a very fortunate position to be able to give back to our community and support charitable organisations close to our hearts. 

Each year Paspaley donates to more than 40 charitable organisations around Australia, with a particular focus on supporting children and cancer research. Paspaley’s most significant charitable endeavour is our ongoing partnership with the Garvan Institute of Medical Research.

Thanks to the support of our customers, we have been able to raise over $1.3 million in less than five years. This initiative has been incredibly inspiring and we are thrilled to be able to make real change in the lives of thousands of people. 

Environmental responsibility and sustainability have become fashionable concepts in recent years, but they truly are at the heart of what we do at Paspaley. The best quality pearls require pristine conditions to thrive, so it is essential for us to ensure our environment impact is minimal.

Paspaley’s sustainability credentials have been certified by the Marine Stewardship Council (MSC) – an independent, non-profit organisation that assesses the environmental sustainability of the wild marine industry.

Of all the beautiful pieces created by Paspaley, which is the one you admire most?

I don’t think I can select just one piece, it is like asking me which of my children I love the most! Each Paspaley design goes through a long journey from inspiration to launch.  What I admire most is how every Paspaley design has a story and how those stories inspire our customers.

My cousin and Paspaley Creative Director, Christine Salter would say we must push past hard to get to excellent. Christine and our design team are forever pushing boundaries to ensure every new Paspaley design is truly exceptional. 

Our customers often tell me how they fell in love with a Paspaley piece for their wedding or special occasion. I have also heard heartfelt stories of customers buying a Kimberley bracelet to celebrate the end of their journey with cancer. To be a part of these special memories is a privilege.