The World Gold Council (WCG) is looking to commercialise its LoveGold online platform, which was launched in January 2013 with the aim of raising awareness and generating excitement about gold jewellery.
A WGC spokesperson explained to Jeweller, that the council had been investigating opportunities to help jewellery initiatives such as LoveGold “develop their own commercial lives and identities” by seeking partners or owners that could provide the investment necessary for long-term growth.
“LoveGold is now in the hands of a management team, led by Sally Morrison, who will be focused on identifying a new commercial future for the brand,” the spokesperson confirmed. “We are confident that Sally and her team will continue to add value to the gold jewellery sector by serving the loyal LoveGold audience.”
Morrison was appointed managing director of WGC jewellery operations in January 2014, although a report by industry publication JCK stated that she and a group of staff had since left the council to drive the commercialisation of LoveGold as a separate entity. It was said WGC retained a minority interest in the business.
LoveGold success
The WGC spokesperson said the council’s jewellery division had achieved significant success over the years.
“Today, jewellery is a highly sophisticated market around the world, however the level of investment required to bring about significant change to the market is high,” she stated.
“The WGC’s role is to stimulate and sustain the demand for gold, and one of the ways in which we do this is to act as a catalyst for ideas and initiatives, which brings gold to new audiences or develop greater access.”
The spokesperson said LoveGold was a good example of one of these initiatives, highlighting that in the last few years, the campaign’s social media community had expanded into a “loyal following” of more than 700,000 people.
The division’s marketing and online engagement acumen was recognised by Twitter in one of its business ‘success stories’. The case study detailed LoveGold’s 2014 Academy Award campaign, which resulted in 30,000 new followers and more than 2.1 million Twitter ‘impressions’.
LoveGold was also nominated for the GEM Award for communications in 2014, an accolade that recognises individuals and organisations that raise the visibility and status of fine jewellery and watches.
The WGC is a global market development organisation for the gold industry, assisting in the promotion of gold while also providing industry analysis on demand. Its membership comprises 18 gold mining companies that operate in more than 40 countries.
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