GIE Perles de Tahiti Dissolved?

[jshepherd]

Nothing is really public yet and what I'm reporting is the murmurings through the industry, but it appears as though Martin Coereli may be out and GIE Perles de Tahiti dissolved.

The rumor is that Japan's Otsuki and Tasaki made a sort of power move and appropriated the funds going to GIE.

If this is true it could have a significant impact on the industry including auctions and export controls. Maybe the JP industry is attempting to take back the global control lost over the past 30 years.

[Pearlgully]

I feel sick. Does this mean the end of natural color?
What country will the JP industry try for next?

Gail

[GemGeek]

Does this mean Raitu is out of a job?

[jshepherd]

It would seem so. I guess we are going to have to wait for the official word.

[pbazar]

Martin Coereli has been removed from his job at Perles de Tahiti. The last I have heard he has been offered a job as minister of the environment. Martin has been a staunch supporter of the US market when it comes to the distribution of funds available for the promotion of Tahitian pearls.

The Japanese have argued that since they purchase the majority of pearls they should get their prorated share of the funds. Martin argued thet the promotional money should be used where the pearls are ultimately consumed ie the USA. Ultimately he lost this argument. It seem that money talks. The fact is that the Japanese are the ones that control since they are there spending their YEN.

Ratu as of last week is still there. I will meet with him in early August. The promotional dollars have been severely cut back for 2009 and you will see much less advertising of Tahitian pearls in 2009.

The CPAA acts as the US PR arm of Perles de Tahiti and its Board has protested the latest actions. I urge all of you involved in the US pearl industry to get involved with the Cultured Pearl Association of America. Without a strong unified voice these travesties will continue.


This is the letter thst was sent by the Board

http://www.cpaa.org

Dear Mr. Alfred Martin,

We the undersigned; Board members of the Cultured Pearl Association of America, Inc. are disturbed to learn of the closing of Perles de Tahiti’s promotional arm and the removal of Martin Coeroli as Director.

Mr. Coeroli single handedly created a market for the Tahitian Cultured pearl in the Unites States and he is equally recognized as the face of Perles de Tahiti in the U.S.

To eliminate this partnership will undermine the progress and market penetration that has taken years to build.

We believe the funding to the U.S. is disproportioned and unfair. The U.S. market is only allocated 10% of the total funding and is importing over 40% of the product.

We implore you to re-examine your U.S. strategy.

Sincerely,

The Board:

President: Mr. Sonny Sethi, Tara and Sons
Vice President: Mr. Francis Mastoloni, Mastoloni
Treasurer: Mr. Aziz Basalely, Eliko Pearl
Secretary: Mr. Peter Bazar, Imperial-Deltah

The Cultured Pearl Association of America, Inc. representing the largest importers of Tahitian Cultured Pearls to the United States

[pattye]

That is certainly sad and distressing. Are there any suggestions for us individual folk to make a protest that will be heard?

[Ashley]

That seems like a very intense move to make so suddenly- has this been brewing for a long time? What will the impact be on purchasing at auction?

[Drucilla]

I understand that this situation is upsetting to PG'ers, but is there anyone who would be wiling to give us Newbies a Reader's Digest version of what is happening, and what it all means??

Thanks,
D~

[Caitlin]

Hi pbazar. Thank you for your news, unhappy though it is. It sounds like a disaster!

[jerin]

I understand that this situation is upsetting to PG'ers, but is there anyone who would be wiling to give us Newbies a Reader's Digest version of what is happening, and what it all means??

Thanks,
D~

Hi Drucilla and welcome to the Forum,
I am by no means an expert on these questions but as I understand it, through Martin Coeroli and the Gie Perles there has been a certain standard set reg Tahitian Pearls and this company/foundation has served as a guarantee for buyers/customers as well as they have promoted Tahitian Pearls quite heavily through the years so thanks to them many of us customers have come into contact with the "black pearls". If Japan is taking over, no one knows whether this will mean other and more treatments to the pearls, perhaps even more expensive prices, less culturing times (as I understand it in this case it it ruled by the Tahitian government that no Tahitian pearls may be exported with a nacrethickness under 0,8 mm (totally 1,6 mm round the pearl, every pearl that does not have this nacrethickness is being destroyed and/or used in other areas = cosmetic pearl powder. So what this means for the future is difficult to know. I hope that Jeremy as well as others will tell us more on this.

[effisk]

Hi all,

I'm very suprized by this news. Nothing has filtered out from French Polynesia.

The GIE has been created by the government of French Polynesia, and many of its board members are members of the FP government. The number of ministers in the FPG is limited to fifteen and all the chairs have already been (recently) taken. The political situation is a little unstable and I don't think it would be wise for Gaston Tong Sang to rearrange his government at this time (there is no minister dedicated to environment right now). Because the GIE is the grouping of pearl cultivators in FP, I don't see it dissolved or taken over.

The FP pearl industry is however not at its best right now, and I am less suprized that it is cutting its marketing funding in the US. The luxury market is hit by the slump as any other...

I sent an email to Robert Wan and Martin Coeroli to learn more about all this.

[CLICLASP]

Martin Coereli .... has been a staunch supporter of the US market when it comes to the distribution of funds available for the promotion of Tahitian pearls.

The Japanese have argued that since they purchase the majority of pearls they should get their prorated share of the funds. Martin argued thet the promotional money should be used where the pearls are ultimately consumed ie the USA. Ultimately he lost this argument. It seem that money talks. The fact is that the Japanese are the ones that control since they are there spending their YEN. ..........

Who can explain where the funds for GIE come from
or go to?
French, US Japan, else ?

[pbazar]

The money to promote pearls and to run PDT comes from an export tax on pearls. The Japanese have not taken over Tahiti any more than that they have always tried to control the pearl industry in general. There has been no change at this time to the minimum export standard as to nacre thickness. The changes effect the promotion of Tahitian pearls.

The Japanese have always been able to treat pearls once imported into Japan as demonstrated buy chocolate Tahitian pearls.

The struggle over the allocation of funds has been ongoing with the CPAA trying to show that pearls exported to Japan and Hong Kong are ultimately sold un the US. But due to the secretive nature of pearl importers many are not forthcoming as to where and how much product they import.

Therefore the US was unable to convince PDT that promo dollars should be allocated to the US market.

As to the Auctions they account for a small portion of exports and US buyers are a small fraction of those buyers

The Asian buyers buy all the pearls coming from the harvest and then sell world wide US buyers tend to purchase only the type of product they want and let Asian sell lower product to India China or anywhere in the world that is interested in each quality.

[pearlescence]

What about the European market for Tahitians? is there much of one?

[Pearlgully]

"There has been no change at this time to the minimum export standard as to nacre thickness."
The key words being "at this time".

"The changes effect the promotion of Tahitian pearls."
I'm not exactly sure what you mean by this sentence. If you could explain a bit more, I would really appreciate it.


"The Japanese have always been able to treat pearls once imported into Japan as demonstrated buy chocolate Tahitian pearls."
I know this. My concern now is the likely hood of the pearls being treated prior to their exportation from French Polynesia. (I buy black pearls directly from FP, never from anyone or anywhere else.)


Gail